Vermilion Local Schools

Every adult helping every child succeed today, tomorrow, and beyond!

Treasurer - Finance

Five Year Forecast

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 full Forecast for fiscal year 2022.

FY 2022 Fiscal Forecast with Assumptions

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 Investors Services, a leading global provider of credit ratings, published its annual evaluation of the credit rating for Vermilion Local School District. The 2020 report rates Vermilion Local School District as Aa2, a rating slightly above the median rating of Aa3 for school districts nationwide. The notable credit factors include a robust financial position, a healthy wealth and income profile and a sound tax base. It also reflects a mid-ranged debt burden and a significant pension liability.

Moody's Annual Issuer Comment Report June 12, 2020