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PARKERSBURG -- The Wood County Board of Education met in a special meeting Saturday morning for a work session regarding their budget.
Assistant Director of Finance Kaylee Litman presented a PowerPoint to discuss the various points of interest regarding Wood County Schools budget.
Litman stated that there are eight funds included within the 2025 budget, including the General Current Expense Fund, Excess Levy Fund, Debt Service Fund, Bond Construction Fund, Permanent Improvement Fund, Special Project Fund, and the Federal Stimulus and Stabilization Fund. She explained that the Excess Levy Fund is for "remaining funds from the 2020-2024 expired levy that will be carried forward and expended based on that levy call."
The two corresponding Debt Service Funds are 2017 and 2023 Bond funds being accumulated for payment of principal and interest. Litman also stated that the Federal Stimulus and Stabilization Fund is for funds that will be fully expended by September 30, 2024.
"The Debt Service Fund is for funds coming in July for the new bond," Board President Justin Raber explained for the public.
The board then discussed the property tax revenue for the current expense of the General Fund and the Excess Levy. The property values, as determined by the county assessor, increased by $557,765,261 over the fiscal year of 2024 values of $4,631,662,325 to $4,073,897,064 and the current expense levy rate is set by the state of West Virginia and remains unchanged according to Litman.
Litman stated that the voters of Wood County approved a $20,906,497 excess levy on November 8, 2022 to support Wood County Schools from July 1, 2024 to June 30, 2029. Any additional money derived from the increase in levy funds will be used for maintenance, school safety and educational operational supplies, equipment, or services. The projected net tax collections from the excess levy call for approximately $23,660,552.
Litman presented that the Wood County Board of Education receives several state and federal grants based upon various criteria and that $150,730 will be set aside for adult basic education courses as the district hasn't been funded since 2020.
She stated that in order for the Wood County Board of Education to receive federal special education grants they have to "expend at least as much in local and state funds on Special Education as in the prior year in grand total or per student and/or expend at least as much on their students with special needs using local/state funding that they do on other students."
Litman also listed other major sources of revenue for the Board of Education such as Junior ROTC, public donations, Medicaid, and interest earnings in short term investments such as "excess cash deposited at the local bank or state treasury."
Raber stated that they also get a rebate back from keycard usage which he expresses is a "source of income and a good source of free money."
Litman explained that the Public School Support Program (PSSP) is a financial support program for public schools in West Virginia and that the state has a responsibility for allowances under seven steps less the aggregate amount of the school's local share.
The board also discussed personnel costs. Personnel costs make up 81.34% of the total proposed 2025 operational budget according to Litman and that the West Virginia Department of Education indicates these costs are typically 80-85% of a district's expenditures. She explained that at the end of each year of service, employees move up an incremental step and that the steps have been budgeted. The state provides an annual raise of $2,460 for professionals and $1,400 for service. Litman said that fringe benefits are budgeted based upon current elections but no changes are made to the budget because they are in open enrollment and worker's compensation costs are based upon the 2024 fiscal year rates as the 'E-mod' has yet to be determined for 2025 rates. Costs for substitutes have also been budgeted across the general fund.
Raber confirmed with Litman that personnel costs were "based upon a 200 day contract and anything that they pay over will be taken out of general revenue and is still a negative budget implication for them."
They briefly discussed retiree costs and stated that the dental plan for retirees was closed to new retirees in 2019 with increased monthly rates and that $126,300 has been budgeted toward the cost of providing that benefit. But retirees hired before July 1, 2001 can convert unused sick and annual leave toward retiree health insurance payments. Facility costs were also briefly mentioned such as the Caperton Center with the Wood County Schools share of the current budget for the maintenance and operations for 2025 being $490,393 and their share of all costs estimated at $620,000.
Transportation costs were budgeted at $1,200,000 for the purchase of new buses with the state providing $704,714 and the county allocating $495,286, which would take care of 7 to 8 buses. Food service costs have not been budgeted for state matched equipment allocation but will be provided in spring of 2025. Debt service, which is payment of principal and interest of bond and lease obligations, have been budgeted in accordance with amortization schedules according to Litman.
Three interfund transfers from the general fund have been budgeted for the 2025 fiscal year to the Special Revenue Fund, Special Revenue Fund for child nutrition, and the ACE Advantage Program – Fund 61. Additional costs are to be paid from the specific grant carryover funds according to Litman. She stated that some costs could not be budgeted in the initial budget process because specific grant funds are earmarked for specific costs and those costs will be budgeted during the budgeting carryover process and are required to be completed by October 31 of this year.
The next regular meeting of the Wood County Board of Education is scheduled for May 28 at 6 p.m. The meeting will be open to the public and streamed online.
Gretchen Dowler can be reached at gdowler@newsandsentinel.com