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.
AUDITOR OF STATE AWARD
Each year school districts across the state are audited by State Auditor’s Office. They set up shop in our office, dive into our financial records, review our practices and check the accuracy of our data. I’m proud to say that Upper Arlington, once again, has received a clean audit report and an Ohio Auditor of State Award for fiscal year 2013. I extend my thanks to the entire Upper Arlington staff for conscientiously following proper financial reporting procedures.
REDUCING INSURANCE COSTS
Upper Arlington City Schools became self-insured for medical insurance on January 1, 2014. After a lot of research, it became apparent that going self-insured would put us in a better financial position. We had forecast a 10 percent increase on medical premiums based upon market trends. But when we switched to being self-insured, we became exempt from one of the new fees associated with the Affordable Care Act. The elimination of this fee, along with the new self-insured status, allowed us to cap the premium increase at 6.2 percent. That difference in the forecast premium versus actual premium translates to a cost-avoidance of $265,000 for calendar year 2014 and more than $1.4 million during the five-year forecast period.
In a district with multiple facilities, energy costs can be a huge burden to the budget. For over a decade the district has been in a consortium through the Metropolitan Education Council to purchase natural gas. Several years ago many school districts came together to purchase electricity in hopes of receiving better rates. These formal and informal consortiums have served the district well by allowing us to secure lower rates than we would receive on our own. The estimated cost avoidance for natural gas in 2013 was more than $40,000. Due to the higher cost of electric, our estimated cost avoidance in that area was even higher – more than $350,000 in 2013 alone.
ONLINE FEE PAYMENTS
In August of 2013, Upper Arlington Schools began accepting fee payments online through a partnership with SPS EZpay. Through the first semester of this year, more than 20 percent of student fees were paid online. If you are parent who is interested in this new option, please look for more information on our website, uaschools.org. Our schools will continue to accept payments by check.
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