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SEP-21-2004 TUE 01:07 PM MAYFIELD BD OF ED FAX N0, 4409957205 P. 04 <br />Page 3 <br />September 14, 2004 <br />If lhis revenue source had remained steady at the 2002-03 level, then our three yea.r income <br />would hava been $19,490,556. But becatYSe it Ys reduced by inventory tax credits and <br />lower values, our estimated three year incpme fs predicted to be $18,221.069 or a <br />difference of $1,269,487 less dQtlaxs. This legislative action is caLising a shift of the school <br />tax bu'rden in Mayfisld from cartunerciaUindustrial sources to residents. In 2002-03, <br />personal property taxes we.r.e 15.45% of total revenue. Last year (2003-04) this reveaue <br />sourcc dropped to 13.47% of total revenue. And, this year (2004-05), could drop to an <br />estimated 12% of total revenue. (R.efer to Tangible Business Revenue Chart) . <br />4. Tf recent State legislative action had not taken place along with a downturn in the <br />economy how long would the Operating Levy, passed in 2002, have lasted? <br />Based on our five year projections in 2002, the levy would have allovved us to go three years, <br />Lu1ti12005. State Iegislative action took place followinb the 2002 levy vvhich changed tax <br />Tevenue forecasts. The same affect is being felt in Solon, BeachWOOd and other districts with <br />high personal property revenue. ' <br />5. What are the specifics of the $5 uullYOn iin cuts that will have to be made if the $.5 mill <br />lcvy fails? . A. nistrict WYde Anticipated Budget Cuts - <br />• Eliminate Co.mmuxuty Eduaation prograrxis & etaff' <br />• Eliminate Adult Volunteer Service programs & staff <br />• Personnel Cuts <br />2- Central Of?'ice Classif ed Staff <br />1 - Central Office Administrator <br />1- Custodial Supervisor <br />2 - School Psychologists <br />2 - Computer Teehnicians <br />10 - Bus Drivers <br />1 - Bvs Mechartic 3 - Bus Aides <br />2- Buildings 8c Grounds Employees <br />• Mayfield/ParochiaUPrivate Bus Routes (Grades IK 12) <br />2- mile Bus Pick-Up (Grades K-8) . <br />Eliminate High School Busing (GradES 9-12) <br />• Reinstate full-day Kindergacten tuition ($1,900) <br />? Increase Fees <br />Double school fees for GrEides K-12 <br />Pay-to-Farticipate fees for Crrades K-12 increased to $200 per activity <br />• No purchase of 5 replaceme:nt school buses . • I1o replacement of outdated technology