Mantua – At the last Board meeting, Crestwood School District Treasurer Sarah Palm shared the latest Revenue and Expenditure comparisons with the Board. She noted that the latest Revenue Comparison shows that District revenues are generally aligned with what was presented in the May 5th Year Forecast. She shared that in Fiscal Year (FY) 2021, revenues are currently $20,141,208. She noted that projected revenues in FY 2022 & FY2023 increase slightly but begin to decrease in FY2024 and FY 2025.
Palm noted in her Expenditure Comparison that expenditures are also tracking very closely to the May forecast. As expected, each FY shows a slight increase in expenditures, with projected expenditures in FY 2025 at $23,067,152. In a third slide, Palm highlighted the District’s projected cash balance for the next five years. “As depicted, you can see the ending cash balance for the district declining rapidly over the course of the next five years,” she noted. “Cash on hand will deplete completely by fiscal year 2025 if no new funds are procured or drastic reductions are made.” Palm noted that she’ll present the District’s updated Five-Year Forecast at the November Board meeting; it will take into account the results of the November 3rd levy outcome. Her presentation to the Board can be viewed at crestwoodschools.org.
In other news, in the Permanent Improvement & Safety Committee report, Board member Kristen Cavanaugh shared that the District moved from the Blackboard Connect notification system to a new system, “the expense was basically cut in half”. Board member Todd Monroe went on to add that the District utilized Coronavirus Aid, Relief, & Economic Security (CARES) Act funds to purchase 500 new chrome books and 1,600 chrome bookcases for student use. He noted that CARES funds were also used to create a wireless hotspot outside the High School to enable students and teachers to access it outdoors.
“Not only is this a nice tool for our students and teachers to have,” shared Superintendent David Toth, “providing 24/7 access to the Internet, it also enables wireless cameras systems to be used at the stadium.” Toth noted that in addition to desk shields and temperature scanners, the District has aimed to use CARES funds on items that can help the District in the post-COVID-19 future, as well. In addition, Toth noted that the District was awarded a separate grant that enabled the purchase of 137 wireless hot spots that will be provided to District families without Internet access.
The next regularly scheduled Crestwood School Board meeting will take place on Tuesday, November 10th at 7 pm in the Crestwood Primary School; to view the meeting online, visit crestwoodschools.org or contact the Superintendent’s Office at (330) 357-8206 extension 5005.
