A message from Springfield Local Schools Treasurer Ryan Lockwood:

Where Does Your Dollar Go?
The day in the life of a dollar bill at Springfield Local Schools - 67¢ of every dollar coming into
the district is through the support of the local community. The State of Ohio contributes 32¢
towards every dollar of district revenues and one penny is generated from other sources.
Like most districts, 81¢ of every dollar is spent on the salaries and benefits of educational
professionals working to successfully operate an excellent district. 11¢ is expended on
purchase services such as utilities and special education services. The remaining 8¢ is split
between non-operating expenses, supplies, and equipment. Click here to review the graphic prepared to show how each dollar is spent.  For additional information,please contact Springfield Local Schools at 419.867.5600.

Previous Posting:
As a school treasurer, it is sometimes hard to not focus on anything except for the bottom line.  Although the bottom line should never be overlooked, many in the school administration sector are adding what is referred to as "true cash days" data to their packet of analytical information.  In simple terms, true cash days are simply the number of days the district could continue to operate should it no longer receive any revenue.   The Ohio Department of Education has been using this formula for a number of years to help determine the solvency of a school district in a time of financial crisis. 

The formula for true cash days is really a two part equation.  The first part of the formula involves calculating the district's daily expenditures by taking the district's yearly appropriations and dividing it by 365 days.  The second part of the formula involves dividing the month end cash balance by the number calculated as the district's daily expenditure rate.  At the end of December 2010, Springfield Local Schools had a true cash days value of 9 days.   The Ohio Association of School Business Officials recommends at least 60 to 90 true cash days or enough to meet the requirements for three months of expenditures.

Although the district has been on a downward trend in relation to its true cash days figure over the last couple years, a small upswing may be starting to appear with the passage of the November 2010 levy.  As part of an overall strategic plan, the district has been able to cut daily expenditures by over $5,000 (per day) between fiscal years 2010 and 2011.  Even with revenues that are flat or decreasing, the district is still able to maximize the overall liquidity of the district.      

To review current data, we have created links to important financial information, including:

Appropriation Summary Report by Fund

Revenue Summary Report by Fund

Summary Financial Report of Cash Balances by Fund

Annual Information Filing

Click here to view Treasurer Ryan Lockwood's Five Year Forecast
Click here to view Treasurer Ryan Lockwood's Assumptions/Forecast