Treasurer/CFO, Andrew Geistfeld
Mr. Geistfeld joined the Upper Arlington City Schools as Treasurer/Chief Finance Officer in November 2005. Prior to joining Upper Arlington, he was the Treasurer of the Olentangy Local School District in Delaware County. Mr. Geistfeld has served in public school districts since 2001 in various capacities. Before working for public schools he worked in the private sector as a Senior Manager with the accounting firm, KPMG.
Throughout his time in education, Mr. Geistfeld has been committed to being a good steward of public funds. He is Past-President of the Ohio Association of School Business Officials and a member in the Government Finance Officers Association.
Mr. Geistfeld is a graduate of the Upper Arlington City Schools. He received a Master of Business Administration from Mount Vernon Nazarene University and a Bachelor of Science in Business Administration from The Ohio State University. He also is a certified public accountant.
Efficiency project commitment surpassed
In August 2013, the district committed to improving its bottom line by $4.5 million by the summer of 2017 without having a negative impact on the student experience. I’m pleased to report that we have now surpassed that goal, enacting more than $4.6 million in efficiency measures as of October 2016.
Two of the biggest changes were moving to a self-insured model for medical coverage and increasing employees’ share of their medical premiums. Other factors include the renegotiation of several contracts and a reduction in staff positions. For more details, including a full listing of the changes, visit www.uaschools.org/efficiency.
Although we met the Efficiency Project goal early, we remain committed to seeking additional efficiency measures through 2017 and beyond.
Five-year forecast and enrollment growth
Each October I prepare a five-year financial forecast for the district that includes three years of actual data and five years of anticipated revenues and expenditures. This legally required document is presented to the Upper Arlington Board of Education for approval and then filed with the state of Ohio. This tool helps us keep a clear view on our financial outlook and the impact of future needs.
One thing that is notable in this year’s forecast is the potential impact of enrollment growth on district finances. Many people are surprised to hear that our land-locked district is growing, but it’s true. With the hot real-estate market in our community, many homes are being purchased by young families with multiple children. In just the past year, we have grown by 57 students at the elementary level alone. Enrollment projections indicate that trend is likely to continue for the next several years, with growth topping 10 percent over the next 10 years. More students mean the need for more supplies, more staff and more space. We’ll continue to monitor enrollment growth and carefully plan for its financial effects.
To learn more about the five-year forecast or read our annual financial report, please visit www.uaschools.org/treasurer. As always, if you have any questions, please feel free to contact me at email@example.com or (614) 487-5000.
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