The Press Newspaper

Toledo, Ohio & Lake Erie

The Press Newspaper

The Press Newspaper


Eastwood school superintendent Brent Welker is cautioning district residents the most recent financial statements paint a rosy but unrealistic picture of the district’s actual condition.

As of Nov. 6, about a third of the way into the current fiscal year,  total revenues were about $7.1 million, about $655,067, or 10 percent more, than at the same time last year when the district had collected $6.5 million.

General property tax revenues this year are about $2 million, about $207,963 more than last year but the district has only collected a little more than $1 million in income taxes - a drop of $134,549 compared to last year.

The superintendent notes the district’s allocation of grants-in-aid includes $138,715 in stimulus money that can’t be used for basic general fund purposes.


“Unfortunately that skews the real revenue picture for the district,” he said.

In addition, even the receipt a few days earlier this year than last of $22,993 in tangible personal property revenue taints the district’s finances.

“We also received our tangible personal property reimbursement a couple of days early, so it made the month appear better because we were expecting it in November,” Welker said. “The fact remains that we will receive roughly $65,000 less in money from the state this year and $130,000 next year.”

He is more upbeat on the district’s efforts to keep expenditures under control.

Total expenses as of Nov. 6 were about $4.6 million, about $330,652 less than the same time last year.

Spending on supplies and material fell the most. The district spent $421,468 by this time last year but has only spent $201,709 so far this year,

Spending on personnel services, however, increased by slightly less than $11,000 so far this year – from $2. 78 million to $2.79 million.

“We are below projections and well below last year’s expenses at this point by 6.7 percent,” Welker said. “This could well be a timing issue and I look for our expenses to come back to roughly flat levels as compared to last year.”

Memorial Day

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