MINSTER LOCAL SCHOOLS TREASURER REPORT FEBRUARY 2016

1.

1095-C forms have been sent to employees with coverage. These are the IRS forms that will be sent to the IRS to show that employees had coverage through Minster Schools. Employees will need these forms if audited by the IRS.

2. The second state funding payment scheduled to be received on February 19 will be using the current year’s enrollment data. Dorothy Bruns (EMIS) updated the files to the state. We have 841 students attending Minster Schools (“butts in seats”). We track a total of 895 total students which includes students attending on open enrollment and those leaving on open enrollment or attending county units. We should be funded on 840.25 students. 3. We are accepting quotes for Speech, OT and PT therapy as our current contract with Rehabilitative Services, Inc. expires at the end of this school year. Based on their proposed contract amount and using our total hours of therapy for the 2014-15 school year, we will not see much of an increase in total costs. We are also seeking quotes from Auglaize County ESC and PT Services. We hope to have this information to make a recommendation to the board at the March meeting. 4.

INCOME TAX $2,000,000 $1,500,000

ESTIMATE D TAXES

$1,000,000 $500,000 $0

TAX RETURNS WITHHOLD ING

April tax is estimated based on how April 2015 taxes were collected compared to April 2014. In 2015 January and April withholding income tax increased 8% over that time period in 2014 as well as 8% in October 2015 and January 2016. With decreases occurring October and January of FY2016 in estimated payments, the total income tax collected in October and January quarters has been fairly constant compared to prior year. The July 2015 collection increased 6% over prior year.