From the Willoughby-Eastlake website we found their 5 year financial forecast…
Here are some interesting numbers from the report:
Category 2016 2023 Inc. / Dec
Revenues $97.3 Million $80.1Million -$17.2 Million -(17.6%)
Personnel Expenses $49.0 Million $67.2 Million +$18.2 Million (37.1%)
Retirement & Benefits $15.9 Million $21.3 Million +$ 5.4 Million (34.0%)
Total All Other Exp. $32.0 Million $29.0 Million -$ 3.0 Million -(9.3%)
(includes Debt pymts)
Total Expenditures $96.9 Million $117.5Million +$20.6Million (21.3%)
We reached out to one of our lobbyists that was a former Lake County School board member, and asked for an opinion on the W-E five year forecast. Here is the opinion given:
1. The property tax revenues greatly decrease in 2022 and 2023. My guess is that they passed a renewal levy (not a permanent levy) and the time period (usually 5 or 10 years ) is now up. They are looking for a new levy to replace that.
2. Payroll increases over 4% each year. I am sure they are telling the voters that increases are 2% or less but no one knows about the step increases that are included in these costs.
3. Purchased services account for over $19M each year. Not sure what that is but it is a very large expense that needs to be detailed.
4. Expenses are consistently increasing in the 4% range. Why are they not looking at controlling costs before they ask for more taxes? Become more efficient before asking me for more $$$. The easy way is to just keep spending and put on a new levy.
If you need more detailed statistics, here is the detailed FY 2018 Cupp Report for Wiloughby-Eastlake School District: