Treasurer - Finance

Treasurer - Finance

Treasurer Newsletter

Click a date link below to view the Treasurer's Newsletter

Newsletter graphic April 2019

Employee 403B and 457 Plan Participation

Employee 403B and 457 Plan Participation

IRS INCREASES 403(B) LIMITS TO HELP YOU PREPARE FOR RETIREMENT OR COLLEGE

 

The IRS has increased the amount an employee is allowed to shelter under a 403(b) or 457 plan to $19,000 in 2019. Also, higher limits may apply if you meet certain catch-up requirements.


Also, all employees can contribute to a 403(b) or 457 retirement account pre-tax. If you have not yet done so and are interested, please contact the Treasurer’s Office for guidance.


Moody's Annual Issuer Comment Report

Moody's Logo
Moody's Investors Services, a leading global provider of credit ratings, recntly evaluated the credit rating for Vermilion Local School District.  In their report, Moody's state that the credit position for Vermilion Local Schools is good.  The Aa2 rating is slightly above the median rating of Aa3 for school districts nationwide. The notable credit factors include a robust financial position, a below-average wealth and income profile and a moderately sized tax base. It also reflects a mid-ranged debt burden and an elevated pension liability.
 

Five Year Forecast October 2018

WHAT DO THE NEXT FIVE YEARS LOOK LIKE?
 
The five-year forecast serves as a tool to assess the financial health of a school district. City, local, exempted village and joint vocational school districts are required to submit five-year forecasts twice annually to the Ohio Department of Education (see Ohio Revised Code 5705.391 and Ohio Administrative Code 3301-92-04).
 
Click the link below to view the Five Year Forecast with assumptions dated October 2018. 

Financial Statements

The unaudited financial statements of the Vermilion Local School District, for the period ending June 30, 2017, are available for review during normal business hours at the Administrative Offices, 1250 Sanford Street, Suite A, Vermilion, Ohio. 
 
A copy of the report can be downloaded HERE 
 
 

Contact Information

1250 Sanford Street, Suite A
Vermilion, OH 44089
 
Treasurer: Justin Klingshirn
Phone: 440-204-1700, ext. 198
 
Accounts Payable: Monica Stark
Phone: 440-204-1717
 
Payroll: Loretta Farnham
Phone: 440-204-1718
 

Important Documents

© 2019. Vermilion Local Schools. All Rights Reserved.