five-year forecast update by treasurer cathy rouse

STREETSBORO CITY SCHOOL DISTRICT

FIVE YEAR FORECAST

Tuesday, October 18, 2011

ForecastForecasts are Beneficial Tools

Key component of strategic planning

Basis for determining ability to sign 412 certificate

Sheds light on potential problem areas


State Aid & Reimbursement Revenue Loss – FY12

Public Utility Reimbursement $120,787

Tangible Personal Property $387,759

State Fiscal Stabilization Funds* $310,767 ___________

(*actual collections in FY11) $819,313Total Figure does not include loss of ARRA & Eds Job


Fiscal Year Actual Fiscal Year Fiscal Year Fiscal Year Fiscal Year Fiscal Year2011 2012 2013 2014 2015 2016

$12,095,064 $12,837,802 $12,052,243 $11,266,684 $11,266,684 $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 3,130,743 2,680,140 2,292,381 1,781,289 1,155,127 801,350 801,350 801,350 801,350 801,350

21,747,724 21,060,152 19,626,793 18,390,631 18,002,872 15,950,124

10,423 36,051 36,000 36,000 36,000 36,000 5,814 6,000 6,000 6,000 6,000 6,000

16,237 42,051 42,000 42,000 42,000 42,000

21,763,961 21,102,203 19,668,793 18,432,631 18,044,872 15,992,124

RevenuesGeneral Property Tax (Real Estate)Tangible Personal Property TaxIncome TaxUnrestricted State Grants-in-AidRestricted State Grants-in-Aid

Restricted Federal Grants-in-Aid - SFSFProperty Tax AllocationAll Other RevenuesTotal Revenues

Other Financing SourcesProceeds from Sale of NotesState Emergency Loans and Advancements (Approved)Operating Transfers-InAdvances-InAll Other Financing SourcesTotal Other Financing SourcesTotal Revenues and Other Financing Sources

Five Year Forecast Revenue

FY 13, 14 & 16 reflect loss of levy revenue

Loss of SFSF/Eds Job

Accelerated Phase Out-TPP through 2018/ Public Utility gone in 2012

1.0101.0201.0301.0351.0401.0451.0501.060

1.070

2.010

2.020

2.040

2.050

2.060

2.070

2.080


Revenue 2009 – 2011 Actual2012 – 2016 Projections


Fiscal YearActual Fiscal Year Fiscal Year Fiscal Year Fiscal Year Fiscal Year

2011 2012 2013 2014 2015 2016

12,380,618 12,559,805 12,689,359 13,085,477 13,327,909 13,539,744 4,622,467 4,625,558 4,746,686 4,834,049 5,151,237 5,483,596 2,165,656 2,238,543 2,319,926 2,415,572 2,516,763 2,627,221

429,842 617,805 633,125 649,675 667,571 686,936 24,457 33,943 35,131 36,361 37,633 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 50,000 50,000 50,000 50,000 50,000 36,051 36,000 36,000 36,000 36,000 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

Expenditures3.010 Personal Services3.020 Employees' Retirement/Insurance Benefits3.030 Purchased Services3.040 Supplies and Materials3.050 Capital Outlay3.060 Intergovernmental

Debt Service:4.010 Principal-All (Historical Only)4.020 Principal-Notes4.030 Principal-State Loans4.040 Principal-State Advancements4.050 Principal-HB 264 Loans4.055 Principal-Other4.060 Interest and Fiscal Charges4.300 Other Objects4.500 Total Expenditures

Other Financing Uses5.010 Operating Transfers-Out5.020 Advances-Out5.030 All Other Financing Uses5.040 Total Other Financing Uses5.050 Total Expenditures and Other Financing Uses

Five Year Forecast Expenditures


ExpendituresPersonal Services

Wages are in accordance with bargaining agreements

Future years assume certified placement on schedule

Future years assume classified base salary resumes


ExpendituresRetirement/Insurance Benefits

Health insurance premiums increased 16% FY12

Future years of forecast assume 11% increase

Retirement, Medicare, Workers Compensation driven by salaries


ExpendituresPurchased Services

Somewhat uncontrollable costs

Includes utilities, liability insurance, computer services, legal costs etc.

Open enrollment and community school tuition costs continue to increase


ExpendituresSupplies 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%


Expenditures Capital Outlay

Minimal provisions; will utilize Permanent Improvement Funds when allowable

Other ObjectsIncludes Auditor/Treasurer fees, ESC fees,

Auditing services and other misc. fees


Expenditures Operating Transfers Out

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 OutFunds that may need to be advanced from

general fund to cover a deficit in another district fund. Advances are repaid to the general fund.


Revenue Over/Under Very Important Line

Reflects district’s financial health

When negative – expenditures are exceeding revenue

Spending Carryover


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-

7.020 Cash Balance June 30 2,293,405 2,777,001 1,450,250 1,738,500- 6,026,007- 13,074,866-

8.010 Estimated Encumbrances June 30 111,242 120,000 120,000 120,000 120,000 120,000

Reservation of Fund Balance 9.010 Textbooks and Instructional Materials 9.020 Capital Improvements 9.030 Budget Reserve 9.040 DPIA 9.045 Fiscal Stabilization 9.050 Debt Service 9.060 Property Tax Advances 9.070 Bus Purchases 9.080 Subtotal

10.010Fund Balance June 30 for Certification of Appropriations 2,182,163 2,657,001 1,330,250 1,858,500- 6,146,007- 13,194,866-

Revenue from Replacement/Renewal Levies

11.010 Income Tax - Renewal 11.020 Property Tax - Renewal or Replacement 785,559 1,571,118 1,571,118 3,112,774

11.300 Cumulative Balance of Replacement/Renewal Levies 785,559 2,356,677 3,927,795 7,040,569

12.010 Fund Balance June 30 for Certification of Contracts,

Salary Schedules and Other Obligations 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 2,182,163 2,657,001 2,115,809 498,177 2,218,212- 6,154,297-

Fiscal Year Fiscal Year Fiscal Year Fiscal Year Fiscal Year Fiscal Year2011 2012 2013 2014 2015 2016

Spending Carryover

Assumes renewal of levies


Overview

Significant revenue loss

Reliance on local revenue

Cost Saving Measures


five-year forecast update by treasurer cathy rouse

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