As Treasurer of the Rootstown Local School District, I am the Chief Financial Officer of a public school system with an annual budget of approximately $13 million dollars. The fiscal year begins July 1 and ends June 30 of each year. I currently have a staff of two people.
The district utilizes Portage Community Bank, for accounts payable, payroll and investments. Star Ohio in Columbus is also used for investment purposes. All money received in the school is deposited daily through my office. Payment to vendors is made bi-monthly, or sooner if discounts are offered.
My office is responsible for the payroll and benefit administration of 149 employees. Our employees enjoy the opportunity to select many voluntary savings/retirement plans, along with additional life insurance, flexible spending accounts, credit union, United Way, etc. Currently the health benefits are through the Portage County Schools Consortium.
The day-to-day financial activity of the school system is done through the General Fund. However, the district currently has 81 other funds which I manage. These funds include all school activity funds, bond retirement fund, permanent improvement fund, and numerous grants. In addition to reporting fund activity to the Board of Education, I must also report results to the State Department of Education.
Rootstown is a member of the Stark-Portage Area Computer Consortium (SPARCC) for the use of state accounting software and reporting. The district is audited annually and has prepared financial statements that are in the form of general approved accounting practices (GAAP)
IMPORTANT INFORMATION ON EXPANDED FAMILY MEDICAL LEAVE DUE TO COVID19. TO READ THE US DEPT OF LABOR GUIDELINES CLICK HERE
ANNUAL NOTIFICATION REGARDING PARTICIPATION IN DISTRICT 403(b) PLAN: CLICK HERE
Five Year Forecast
- click the link for the current forecast posted on the Ohio Dept. of Education's website
Notes for Five Year Forecast