Penta keeps positive cash balance to FY26


By Marie Thomas-Baird - [email protected]



PERRYSBURG – Penta Career Center officials say they won’t be asking voters for money in the next five years.

At the board’s November meeting, Treasurer Carrie Herringshaw presented her five-year forecast. She said she doesn’t expect that the center, which serves 16 school district in five counties, will have to ask for any additional local funding for the life of the forecast.

The last operating levy approved by voters was in 1981.

The forecast shows a positive cash balance in fiscal year 2026, even though the district will start to deficit spend this year.

The ending cash balance for fiscal year 2022 is $16.03 million but that drops to $1.28 million in fiscal year 2026.

Herringshaw said the center will outspend revenues by $488,032 this year, $1.61 million next year and $5.86 million in fiscal year 2026.

While property tax revenue is up $700, 000 from last year, it is expected to drop by $600,000 from this year to next year. This year the district is expected to collect $12.08 million in fiscal year 2022 and $11.86 million in fiscal year 2026.

Tangible personal property taxes, which include pipeline revenue and tax proceeds from other public utilities, is expected to be $1.47 million this year and $1.37 million for each of the remaining four years of the forecast.

Income tax revenues are expected to rebound from a drop from fiscal year 2021 to fiscal year 2022 and be $12.81 million for the last four years of the forecast.

State aid is expected to increase $79,000 from this year to fiscal year 2023 and stay flat at $5.14 million for the following four years, pending action by the state legislature to continue to phase in the Fair School Funding Plan over the biennium beginning July 2024, Herringshaw said.

“Because there’s nothing past that, we’re holding our (state) revenues constant because we have no basis to increase them at this point,” Herringshaw said.

The Fair School Funding Plan starts with fiscal year 2022, said Judy Sanders, finance committee chairperson.

“We’ve been talking school funding forever,” she said.

The plan is only guaranteed for two years, Sanders said.

“We hope that we will get more but we can’t guarantee that,” she said.

Total revenues are expected to be $32.89 million this year and $33.01 million in fiscal year 2026.

Personnel services, including salaries and benefits, are expected to be $25.05 million this year and increase to $30.01 million in four years.

Negotiation with the teaching staff will be held this spring and with the support staff in spring 2023, Sanders said.

Purchased services, which were $1 million less in fiscal years 2020-21 due to the pandemic, went to $3.75 million this year and are expected to increase by $300,000 over the next four years.

“Fiscal years ‘20 and ‘21 were odd years because of the pandemic and the last quarter of the 2020 school year we were in hybrid and students weren’t participating in activities,” Herringshaw said. “We’re going to see a rebound in our expenditures this year as we recover from that.”

Supplies and materials are expected to increase $200,000 in the next four years to $2.74 million.

Capital outlays, which include new equipment for labs, classrooms and operations, will remain flat at $1.10 million for the life of the forecast.

Total expenditures this year are expected to be $35.54 million and increase to $39.06 million in fiscal year 2026.

By Marie Thomas-Baird

[email protected]