The Boardman Local School District is projecting increases in the costs of personal services and employees’ retirement and insurance benefits to increase by nearly $3 million dollars, for the five year period, between fiscal year 2023 and fiscal year 2027, according to a five-year forecast presented to the Boardman Board of Education on Monday night.
      The forecast, prepared by Treasurer Arthur Ginnetti, shows that expenditures for personnal services in fiscal year 2023 is set at $26.924 million, and that is forecasted to increase to $28.385 million in fiscal year 2027.
      For fiscal year 2023, the forecast shows expenditures for retirement and insurance benefits are $10.62 million, and that will increase to $11.712 million in fiscal year 2027.
      “This five-year forecast is being filed during a two-year economic recovery following the COVID-19 Pandemic, which began in early 2020. The effects of the pandemic have lessened, but several supply chain concerns and high inflation continues to impact our state, country, and broader globalized economy.
      “Inflation in June 2022 hit a 40-year high of 9.1% before falling to 8.3% in August (2022). Costs in fiscal year 2022 were notably impacted in areas such as diesel fuel for buses, electric and natural gas, and building materials for facility maintenance and repair.
      “Increased inflation affecting district costs is expected to continue in fiscal year 2023. It remains to be seen if these costs are transitory or will last over the next few years, which could significantly impact our forecast and adversely affect state and local funding,” Ginnetti said.
      The treasurer noted that “An overall inflation of 3 per cent is being estimated for the category of expenses which are characterized by textbooks, educational supplies, testing supplies, copy paper, maintenance and custodial supplies, materials, and bus fuel. We will buy the technology updates for students from these federal stimulus dollars to help our general fund.”
      Ginnetti said “In fiscal year 2022 we have added staff for an operations manager, speech pathology position, school psychologist and an auditorium manager. In addition we have added costs for classroom and independent aides, bus driver and bus driver aides and added costs for existing staff for additional coverage.”
      He added “A five-year financial forecast has risks and uncertainty not only due to economic uncertainties, but also due to state legislative changes.”