STREETSBORO CITY SCHOOL DISTRICT FIVE YEAR FORECAST
Tuesday, October 18, 2011
Forecast Forecasts are Beneficial Tools Key component of strategic planning Basis for determining ability to sign 412 certificate Sheds light on potential problem areas
Tuesday, October 18, 2011
State Aid & Reimbursement Revenue Loss – FY12 Public Utility Reimbursement Tangible Personal Property
$120,787 $387,759
State Fiscal Stabilization Funds* $310,767 ___________ (*actual collections in FY11) $819,313 Total Figure does not include loss of ARRA & Eds Job
Tuesday, October 18, 2011
Five Forecast
1.010 1.020 1.030 1.035 1.040 1.045 1.050 1.060
1.070
2.010 2.020 2.040 2.050 2.060 2.070
2.080
Revenues General Property Tax (Real Estate) Tangible Personal Property Tax Income Tax Unrestricted State Grants-in-Aid Restricted State Grants-in-Aid Restricted Federal Grants-in-Aid - SFSF Property Tax Allocation All Other Revenues Total Revenues
Fiscal Year Actual 2011
Fiscal Year
Fiscal Year
Fiscal Year
Fiscal Year
Fiscal Year
2012
2013
2014
2015
2016
$12,095,064
$12,837,802 $12,052,243 $11,266,684 $11,266,684
Tuesday, October 18, 2011
$9,725,028
5,762 3,655,574
3,640,122
3,640,122
3,640,122
3,640,122
3,640,122
18,784
2,335
2,335
2,335
2,335
2,335
429,665
57,657
4,387,748
3,720,886
1,155,127
801,350
21,747,724
Other Financing Sources Proceeds from Sale of Notes State Emergency Loans and Advancements (Approved) Operating Transfers-In Advances-In All Other Financing Sources Total Other Financing Sources Total Revenues and Other Financing Sources
FY 13, 14 & 16 Year reflect Revenueloss of levy revenue
10,423 5,814 16,237
21,763,961
3,130,743
Job 801,350
Loss of SFSF/Eds 2,680,140
2,292,381
1,781,289
801,350
801,350
801,350
21,060,152 19,626,793 18,390,631 18,002,872 15,950,124
Accelerated Phase OutTPP through 2018/ Public Utility 36,051 36,000 36,000 36,000 gone in 2012 6,000 6,000 6,000 6,000 42,051
42,000
42,000
42,000
36,000 6,000 42,000
21,102,203 19,668,793 18,432,631 18,044,872 15,992,124
Revenue 2009 – 2011 Actual 2012 – 2016 Projections
Tuesday, October 18, 2011
Five Year Forecast Expenditures
3.010 3.020 3.030 3.040 3.050 3.060 4.010 4.020 4.030 4.040 4.050 4.055 4.060 4.300
Expenditures Personal Services Employees' Retirement/Insurance Benefits Purchased Services Supplies and Materials Capital Outlay Intergovernmental Debt Service: Principal-All (Historical Only) Principal-Notes Principal-State Loans Principal-State Advancements Principal-HB 264 Loans Principal-Other Interest and Fiscal Charges Other Objects
4.500 Total Expenditures
5.010 5.020 5.030 5.040
Other Financing Uses Operating Transfers-Out Advances-Out All Other Financing Uses Total Other Financing Uses
5.050 Total Expenditures and Other Financing Uses
Tuesday, October 18, 2011
Fiscal Year Actual
Fiscal Year
Fiscal Year
Fiscal Year
Fiscal Year
Fiscal Year
2011
2012
2013
2014
2015
2016
12,380,618 4,622,467 2,165,656 429,842 24,457
12,559,805 4,625,558 2,238,543 617,805 33,943
12,689,359 4,746,686 2,319,926 633,125 35,131
13,085,477 4,834,049 2,415,572 649,675 36,361
13,327,909 5,151,237 2,516,763 667,571 37,633
13,539,744 5,483,596 2,627,221 686,936 38,950
452,253
456,953
485,317
514,247
545,266
578,535
20,075,293
20,532,607
20,909,544
21,535,381
22,246,379
22,954,983
50,898 36,051
50,000 36,000
50,000 36,000
50,000 36,000
50,000 36,000
50,000 36,000
86,949
86,000
86,000
86,000
86,000
86,000
20,162,242
20,618,607
20,995,544
21,621,381
22,332,379
23,040,983
Expenditures Personal Services Wages are in accordance with bargaining agreements Future years assume certified placement on schedule Future years assume classified base salary resumes
Tuesday, October 18, 2011
Expenditures Retirement/Insurance Benefits Health insurance premiums increased 16% FY12 Future years of forecast assume 11% increase Retirement, Medicare, Workers Compensation driven by salaries
Tuesday, October 18, 2011
Expenditures Purchased Services Somewhat uncontrollable costs Includes utilities, liability insurance, computer services, legal costs etc. Open enrollment and community school tuition costs continue to increase
Tuesday, October 18, 2011
Expenditures Supplies and Materials Includes educational supplies, office supplies, maintenance supplies, and fuel $170,000 is budgeted for a Math Program Beyond FY11, the forecast reflects an overall increase of 2.5% - 3%
Tuesday, October 18, 2011
Expenditures Capital Outlay ďƒ˜Minimal provisions; will utilize Permanent Improvement Funds when allowable
Other Objects ďƒ˜Includes Auditor/Treasurer fees, ESC fees, Auditing services and other misc. fees
Tuesday, October 18, 2011
Expenditures Operating Transfers Out ďƒ˜ Funds that may need to be transferred out of general fund to cover a deficit in another district fund. Transfers are not repaid to the general fund.
Operating Advances Out ďƒ˜ Funds that may need to be advanced from general fund to cover a deficit in another district fund. Advances are repaid to the general fund.
Tuesday, October 18, 2011
Revenue Over/Under Very Important Line Reflects district’s financial health When negative – expenditures are exceeding revenue Spending Carryover
Tuesday, October 18, 2011
Fiscal Year
Fiscal Year
Fiscal Year
Fiscal Year
Fiscal Year
Fiscal Year
2011
2012
2013
2014
2015
2016
6.010 Excess of Revenues and Other Financing Sources over (under) Expenditures and Other Financing Uses
1,601,719
483,596
1,326,751-
3,188,750-
4,287,507-
7,048,859-
7.010 Cash Balance July 1 - Excluding Proposed Renewal/ Replacement and New Levies
691,686
2,293,405
2,777,001
1,450,250
1,738,500-
6,026,007-
2,293,405
2,777,001
1,450,250
1,738,500-
6,026,007-
13,074,866-
111,242
120,000
120,000
120,000
120,000
120,000
6,146,007-
13,194,866-
7.020 Cash Balance June 30 8.010 Estimated Encumbrances June 30 9.010 9.020 9.030 9.040 9.045 9.050 9.060 9.070 9.080
Reservation of Fund Balance Textbooks and Instructional Materials Capital Improvements Budget Reserve DPIA Fiscal Stabilization Debt Service Property Tax Advances Bus Purchases Subtotal
Fund Balance June 30 for Certification of 10.010 Appropriations
Spending Carryover
2,182,163
2,657,001
1,858,500-
Assumes renewal of levies 1,571,118 1,571,118 3,112,774
Revenue from Replacement/Renewal Levies 11.010 Income Tax - Renewal 11.020 Property Tax - Renewal or Replacement
785,559
11.300 Cumulative Balance of Replacement/Renewal Levies 12.010 Fund Balance June 30 for Certification of Contracts, Salary Schedules and Other Obligations
1,330,250
785,559
2,356,677
3,927,795
7,040,569
2,182,163
2,657,001
2,115,809
498,177
2,218,212-
6,154,297-
2,182,163
2,657,001
2,115,809
498,177
2,218,212-
6,154,297-
Revenue from New Levies 13.010 Income Tax - New 13.020 Property Tax - New 13.030 Cumulative Balance of New Levies 14.010 Revenue from Future State Advancements 15.010 Unreserved Fund Balance June 30
Tuesday, October 18, 2011
Overview Significant revenue loss Reliance on local revenue Cost Saving Measures
Tuesday, October 18, 2011