Five Year Forecast
Financial Report
Table of Contents
Page
Table of Contents
2
Forecast Summary
3
Revenue Sources and Forecast Year‐Over‐Year Projected Overview
4
1.010 ‐ General Property Tax (Real Estate)
5
1.020 ‐ Public Utility Personal Property
6
1.030 ‐ Income Tax
7
1.035 ‐ Unrestricted Grants‐in‐Aid
8
1.040 & 1.045 ‐ Restricted Grants‐in‐Aid
9
1.050 ‐ Property Tax Allocation
10
1.060 ‐ All Other Operating Revenues
11
2.070 ‐ Total Other Financing Sources
12
Expenditures Overview
13
3.010 ‐ Personnel Services
14
3.020 ‐ Employee Benefits
15
3.030 ‐ Purchased Services
16
3.040 ‐ Supplies and Materials
17
3.050 ‐ Capital Outlay
18
3.060 ‐ 4.060 ‐ Intergovernmental & Debt
19
4.300 ‐ Other Objects
20
5.040 ‐ Total Other Financing Uses
21
Five Year Forecast
22
1
Ohio Department of Education's purposes/objectives for the five‐year forecast are:
1.
2.
3.
To engage the local board of education and the community in the long range planning and discussions of financial issues facing the school district.
Forecast Methodology ‐ This forecast is prepared based upon historical trends and current factors. This information is then extrapolated into estimates for
subsequent years. The forecast variables can change multiple times throughout the fiscal year and while cash flow monitoring helps to identify unexpected
variances no process is guaranteed. The intent is to provide the district's financial trend over time and a roadmap for decisions aimed at encouraging
financial sustainability and stability.
Forecast Purpose/Objectives
To serve as a basis for determining the school district's ability to sign the certificate required by O.R.C. §5705.412, commonly known as the "412
certificate."
To provide a method for the Department of Education and Auditor of State to identify school districts with potential financial problems.
Note: Cash balance includes any existing levy modeled as renewed during the forecast. Cash balance is not reduced for encumbrances.
Financial Forecast
Fiscal Year
Fiscal Year
Fiscal Year
Fiscal Year
Fiscal Year
2021
2022
2023
2024
2025
Beginning Balance
31,531,298
25,056,003
15,082,027
3,581,415
(10,077,298)
+ Revenue
123,470,234
124,683,345
127,142,487
129,843,069
132,912,865
+ Proposed Renew/Replacement Levies
‐
‐
‐
‐
‐
+ Proposed New Levies
‐
‐
‐
‐
‐
‐ Expenditures
(129,945,529)
(134,657,320)
(138,643,100)
(143,501,782)
(148,559,715)
Ending Balance with renewal levies
25,056,003
15,082,027
3,581,415
(10,077,298)
(25,724,149)
Note: Not Reduced for Encumbrances
Analysis Without Renewal Levies Included:
Revenue Surplus or Deficit w/o Levies
(6,475,295)
(9,973,975)
(11,500,613)
(13,658,713)
(15,646,850)
Ending Balance w/o Levies
25,056,003
15,082,027
3,581,415
(10,077,298)
(25,724,149)
The district's cash balance is positive at year‐end in FY 2021 and is projected to worsen by FY 2025. A worsening cash balance can erode the district's financial
stability over time.
(11,500,613)
In FY 2021 a revenue shortfall is expected. This means that expenditures are expected to be greater than revenue by $6,475,295 in FY 2021. By the last year
of the forecast, FY 2025, the district is expected to have a revenue shortfall where expenditures are projected to be greater than revenue by $15,646,850
The district would need to cut its FY 2025 projected expenses by 10.53% in order to balance its budget without additional revenue.
(15,646,850)
= Revenue Surplus or Deficit
(6,475,295)
(9,973,975)
(13,658,713)
‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐(25,724,149)
-$40,000,000 -$20,000,000 $0 $20,000,000 $40,000,000 $60,000,000 $80,000,000 $100,000,000 $120,000,000 $140,000,000 $160,000,0002020 Actual 2021 Projected 2022 Projected 2023 Projected 2024 Projected 2025 Projected
Revenue Sources and Forecast Year‐Over‐Year Projected Overview
Projected RevenuRenewal Levy Revenue
2015
$02016
$110,135,8002017
$112,804,4382018
$118,289,5342019
$121,994,1322020
$122,679,8082021
$123,470,234 $02022
$124,683,345 $02023
$127,142,487 $02024
$129,843,069 $02025
$132,912,865 $03‐Year Historical Actual Average Annual Dollar Change
Compared to 5‐Year Projected
Historical
Projected
Projected
Average
Average
Compared to
Annual
Annual
Historical
$$ Change
$$ Change
Variance
Real Estate
$834,006
$933,111
$99,105
Public Utility
$163,272
$78,326
($84,946)
Income Tax
$942,410
$404,250
($538,159)
State Funding
$762,650
$576,513
($186,137)
Prop Tax Alloc
$66,464
$99,966
$33,501
All Othr Op Rev
$523,416
($42,370)
($565,785)
Other Sources
($427)
($3,185)
($2,758)
Total Average Annual Change
$3,291,790
$2,046,611
($1,245,179)
2.85%
1.62%
‐1.23%
$4,420,201
Total revenue increased 2.85% or $3,291,790 annually during the
past five years and is projected to increase 1.62% or $2,046,611
annually through FY2025. All Othr Op Rev has the most projected
average annual variance compared to the historical average at ‐
$565,785
Note: Expenditure average annual change is projected
to be >
On an annual average basis, expenditures are projected to grow faster than revenue.
Real Estate Real Estate State Funding State Funding 0.0% 10.0% 20.0% 30.0% 40.0% 50.0% 60.0% 70.0% 80.0% 90.0% 100.0% 2020 2025Sources of Revenue Over Time
Real Estate Public Utility Income Tax State Funding Prop Tax Alloc All Othr Op Rev Other Sources 2.42% 4.86% 3.13% 0.56% 0.64% 0.98% 1.97% 2.12% 2.36% 0.00% 1.00% 2.00% 3.00% 4.00% 5.00% 6.00% $0 $1,000,000 $2,000,000 $3,000,000 $4,000,000 $5,000,000 $6,000,000 2017 2018 2019 2020 2021 2022 2023 2024 2025Year‐Over‐Year Dollar & Percentage Change
Annual Dollar Change Annual Percentage Change$110,135,800
$112,804,438
$118,289,534
$121,994,132
$122,679,808
$123,470,234
$124,683,345
$127,142,487
$129,843,069
$132,912,865
$0
$0
$0
$0
$0
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
Renewal Levy Revenue
1.010 ‐ General Property Tax (Real Estate)
Projected RevenueRenewal Levy Revenue
2015
$02016
$34,345,5692017
$34,379,2632018
$35,516,8362019
$35,609,5162020
$36,881,2802021
$37,916,464 $02022
$38,499,769 $02023
$39,733,724 $02024
$40,805,518 $02025
$41,546,833 $0Values, Tax Rates and Gross Collections
Tax Yr
Valuation
Value Change
Class I Rate
Change
Class II Rate
Change
2019
1,493,605,880
247,800,440
27.70
‐
33.78
‐
2020
1,522,168,883
28,563,003
27.67
(0.03)
34.01
0.24
2021
1,549,424,600
27,255,717
27.64
(0.03)
34.25
0.24
2022
1,677,823,906
128,399,306
26.17
(1.47)
33.00
(1.26)
2023
1,710,463,099
32,639,193
26.10
(0.07)
33.13
0.13
2024
1,744,263,099
33,800,000
26.04
(0.07)
33.26
0.13
*Projected % trends include renewal levies
Real estate property tax revenue accounts for 30.06% of total revenue. Class I or residential/agricultural taxes make up approximately 82.77% of the real
estate property tax revenue. The Class I tax rate is 27.67 mills in tax year 2020. The projections reflect an average gross collection rate of 99.7% annually
through tax year 2024. The revenue changed at an average annual historical rate of 2.38% and is projected to change at an average annual rate of 2.41%
through FY 2025.
Gross Collection Rate
98.4%
100.2%
100.1%
100.2%
Revenue collected from taxes levied by a school district by the assessed valuation of real property using effective tax rates for class I (residential/agricultural)
and class II (business).
100.0%
Including Delinquencies
99.2%
$34,345,569
$34,379,263
$35,516,836
$35,609,516
$36,881,280
$37,916,464
$38,499,769
$39,733,724
$40,805,518
$41,546,833
$0
$0
$0
$0
$0
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
Renewal Levy Revenue
0.10% 3.31% 0.26% 3.57% 2.81% 1.54% 3.21% 2.70% 1.82% 0.00% 0.50% 1.00% 1.50% 2.00% 2.50% 3.00% 3.50% 4.00% $0 $200,000 $400,000 $600,000 $800,000 $1,000,000 $1,200,000 $1,400,000 2017 2018 2019 2020 2021 2022 2023 2024 2025Year‐Over‐Year Dollar & Percentage Change
Annual Dollar Change Annual Percentage Change 30.1% 31.3% 0.0% 10.0% 20.0% 30.0% 40.0% 50.0% 60.0% 70.0% 80.0% 90.0% 100.0% 2020 2025Real Estate as % of Total Revenue
1.020 ‐ Public Utility Personal Property
Projected RevenueRenewal Levy Revenue
2015
$02016
$1,484,704 $1,484,7042017
$1,552,066 $1,552,0662018
$1,693,297 $1,693,2972019
$1,813,977 $1,813,9772020
$2,041,883 $2,041,8832021
$2,216,914 $0 $2,216,9142022
$2,271,064 $0 $2,271,0642023
$2,325,214 $0 $2,325,2142024
$2,379,364 $0 $2,379,3642025
$2,433,515 $0 $2,433,515Values and Tax Rates
Tax Year
Valuation
Value Change
Full Voted Rate
Change
2019
30,273,440
3,883,760
72.20
0.00
2020
31,023,440
750,000
72.20
(0.00)
2021
31,773,440
750,000
72.20
‐
2022
32,523,440
750,000
72.20
‐
2023
33,273,440
750,000
72.20
‐
2024
34,023,440
750,000
72.20
‐
*Projected % trends include renewal levies
The public utility personal property tax revenue is generated from the personal property values, additions, and depreciation reported by the utility companies.
This category currently makes up 1.66% of total district revenue. The property is taxed at the full voted tax rate which in tax year 2020 is 72.2 mills. The forecast
is modeling an average gross collection rate of 100.00%. The revenue changed historically at an average annual dollar amount of $163,272 and is projected to
change at an average annual dollar amount of $78,326 through FY 2025.
100.0%
Gross Collection Rate
100.0%
100.0%
100.0%
Revenue generated from public utility personal property valuations multiplied by the district's full voted tax rate.
Including Delinquencies
100.0%
100.0%
$1,484,704
$1,552,066
$1,693,297
$1,813,977
$2,041,883
$2,216,914
$2,271,064
$2,325,214
$2,379,364
$2,433,515
$0
$0
$0
$0
$0
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
Renewal Levy Revenue
4.54% 9.10% 7.13% 12.56% 8.57% 2.44% 2.38% 2.33% 2.28% 0.00% 2.00% 4.00% 6.00% 8.00% 10.00% 12.00% 14.00% $0 $50,000 $100,000 $150,000 $200,000 $250,000 2017 2018 2019 2020 2021 2022 2023 2024 2025Year‐Over‐Year Dollar & Percentage Change
Annual Dollar Change Annual Percentage Change 1.7% 1.8% 0.0% 10.0% 20.0% 30.0% 40.0% 50.0% 60.0% 70.0% 80.0% 90.0% 100.0% 2020 2025PUPP as % of Total Revenue
1.030 ‐ Income Tax
Projected RevenueRenewal Levy Revenue
2015
‐
2016
16,242,763
2017
16,658,583
2018
17,628,765
2019
19,097,266
2020
19,485,812
2021
19,508,885
‐
2022
19,707,528
‐
2023
20,101,185
‐
2024
20,735,428
‐
2025
21,507,064
‐
*Projected % trends include renewal levies
The district maintained one income tax levy in FY 2020. The average annual dollar change in total income tax revenue is forecasted to be $404,250 through FY
2025. Income tax revenue is projected to account for 16.2% of total district revenue in FY 2025.
Revenue collected from income tax earmarked specifically to support schools with a voter approved tax by residents of the school district; separate from
federal, state and municipal income taxes.
$16,242,763
$16,658,583
$17,628,765
$19,097,266
$19,485,812
$19,508,885
$19,707,528
$20,101,185
$20,735,428
$21,507,064
‐
‐
‐
‐
‐
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
Renewal Levy Revenue
2.56% 5.82% 8.33% 2.03% 0.12% 1.02% 2.00% 3.16% 3.72% 0.00% 1.00% 2.00% 3.00% 4.00% 5.00% 6.00% 7.00% 8.00% 9.00% $0 $200,000 $400,000 $600,000 $800,000 $1,000,000 $1,200,000 $1,400,000 $1,600,000 2017 2018 2019 2020 2021 2022 2023 2024 2025Year‐Over‐Year Dollar & Percentage Change
Annual Dollar Change Annual Percentage Change 15.9% 16.2% 0.0% 10.0% 20.0% 30.0% 40.0% 50.0% 60.0% 70.0% 80.0% 90.0% 100.0% 2020 2025Income Tax as % of Total Revenue
1.035 ‐ Unrestricted Grants‐in‐Aid
Career Technical Educational Funding is calculated to be $579,528 for
FY21. Additionally, Economic Disadvantaged Aid totals $284,688 for
FY21. While these amounts are funded via the SFPR funding formula,
they are restricted aid items are are therefore netted from Unrestricted
Aid calculations and reported on line 1.040.
Funds received through the State Foundation Program with no restriction.
The FY 2019 per pupil and foundation revenue amount is the base aid amount used in FY 2021. In addition to its FY 2021 base funding amount of $54,063,311 the district calculated FY 2021 categorical funding such as spec. ed., preschool, casino of $1,569,701. Projected amounts less than the FY 2019 base indicate state budget cuts and other assumed change. For fiscal year 2022 ‐ 2025, the district is projecting an average annual increase of 1.37% Note: Wellness funding is not included in these calculations.$52,011,224
$52,959,968
$55,315,324
$56,594,300
$55,429,680
$55,241,190
$55,528,767
$56,110,625
$56,952,330
$58,322,938
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
45.2% 43.9% 0.0% 10.0% 20.0% 30.0% 40.0% 50.0% 60.0% 70.0% 80.0% 90.0% 100.0% 2020 2025Unrestricted as % of Total Revenue
1.82% 4.45% 2.31% ‐2.06% ‐0.34% 0.52% 1.05% 1.50% 2.41% ‐3.00% ‐2.00% ‐1.00% 0.00% 1.00% 2.00% 3.00% 4.00% 5.00% ($1,500,000) ($1,000,000) ($500,000) $0 $500,000 $1,000,000 $1,500,000 $2,000,000 $2,500,000 $3,000,000 2017 2018 2019 2020 2021 2022 2023 2024 2025Year‐Over‐Year Dollar & Percentage Change
Annual Dollar Change Annual Percentage Change9,675
9,729
9,822
10,033
10,201
10,268
10,086
10,198
10,391
10,583
10,745
FY 2015 FY 2016 FY 2017 FY 2018 FY 2019 FY 2020 FY 2021 FY 2022 FY 2023 FY 2024 FY 2025
District Educated ADM (Enrollment)
1.040 & 1.045 ‐ Restricted Grants‐in‐Aid
Restricted aid is the portion of state per pupil funding that must be classifed as restricted use. Historically the district's restricted state aid changed annually
on average by ‐$60,588 and is projected to change annually on average by ‐$2,138. Restricted funds represent 0.83% of total revenue.
Career Technical Educational Funding is calculated to be $579,528 for FY21. Additionally, Economic Disadvantaged Aid totals $284,688 for FY21. The other
piece of Restricted Aid is Catastrophic Aid from ODE, which pays a portion of catastrophic special education costs. For FY21, the Catastrophic Aid is
forecasted to be $135,000.
Funds received through the State Foundation Program or other allocations that are restricted for specific purposes.
$194,845
$1,196,671
$990,512
$986,692
$1,014,908
$999,216
$1,004,216
$1,004,216
$1,004,216
$1,004,216
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
0.8% 0.8% 0.0% 10.0% 20.0% 30.0% 40.0% 50.0% 60.0% 70.0% 80.0% 90.0% 100.0% 2020 2025Restricted as % of Total Revenue
514.17% ‐17.23% ‐0.39% 2.86% ‐1.55% 0.50% 0.00% 0.00% 0.00% ‐100.00% 0.00% 100.00% 200.00% 300.00% 400.00% 500.00% 600.00% ($400,000) ($200,000) $0 $200,000 $400,000 $600,000 $800,000 $1,000,000 $1,200,000 2017 2018 2019 2020 2021 2022 2023 2024 2025Year‐Over‐Year Dollar & Percentage Change
Annual Dollar Change Annual Percentage Change1.050 ‐ Property Tax Allocation
Projected RevenueRenewal Levy Revenue
2015
$02016
$4,458,1942017
$4,498,8842018
$4,547,2512019
$4,607,6952020
$4,698,2762021
$4,791,588 $02022
$4,877,355 $02023
$4,989,361 $02024
$5,104,138 $02025
$5,198,104 $0*Projected % trends include renewal levies
Property tax allocation primarily consists of reimbursements from the state of Ohio for local taxpayer credits or reductions. The state reduces the local
taxpayer's tax bill with a 10% rollback credit, and 2.5% owner‐occupied rollback credit, plus a homestead credit for qualifying taxpayers. In FY 2021,
approximately 12.1% local residential property taxes will be reimbursed by the state in the form of rollback credits and approximately 1.2% will be reimbursed
in the form of qualifying homestead exemption credits.
Includes funds received for Tangible Personal Property Tax Reimbursement, Electric Deregulation, Homestead and Rollback.
$4,458,194
$4,498,884
$4,547,251
$4,607,695
$4,698,276
$4,791,588
$4,877,355
$4,989,361
$5,104,138
$5,198,104
$0
$0
$0
$0
$0
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
Renewal Levy Revenue
3.8% 3.9% 0.0% 10.0% 20.0% 30.0% 40.0% 50.0% 60.0% 70.0% 80.0% 90.0% 100.0% 2020 2025Property Tax Allocation as % of Total
Revenue
0.91% 1.08% 1.33% 1.97% 1.99% 1.79% 2.30% 2.30% 1.84% 0.00% 0.50% 1.00% 1.50% 2.00% 2.50% $0 $20,000 $40,000 $60,000 $80,000 $100,000 $120,000 $140,000 2017 2018 2019 2020 2021 2022 2023 2024 2025Year‐Over‐Year Dollar & Percentage Change
Annual Dollar Change Annual Percentage Change1.060 ‐ All Other Operating Revenues
Other revenue includes tuition received by the district for non‐resident students educated by the district. It also includes interest income, payments in lieu of
taxes, and miscellaneous revenue. The historical average annual change was $523,416. The projected average annual change is ‐$42,370 through FY 2025.
As the District forges into the future and revenues continue to fall short of expenses, we will need to draw down cash from our investments, which will
negatiely impact our forecasted interest earnings. But the District has also actively pursued BOR cases, which has resulted in various PILOT (payment in lieu of
taxes) arrangements with various businesses.
Operating revenue sources not included in other lines; examples include tuition, fees, earnings on investments, rentals, and donations.
$1,378,335
$1,541,797
$2,597,545
$2,921,714
$3,112,043
$2,588,719
$2,794,646
$2,878,162
$2,862,075
$2,900,195
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
2.5% 2.2% 0.0% 10.0% 20.0% 30.0% 40.0% 50.0% 60.0% 70.0% 80.0% 90.0% 100.0% 2020 2025Other Revenue as % of Total Revenue
11.86% 68.48% 12.48% 6.51% ‐16.82% 7.95% 2.99% ‐0.56% 1.33% ‐30.00% ‐20.00% ‐10.00% 0.00% 10.00% 20.00% 30.00% 40.00% 50.00% 60.00% 70.00% 80.00% ($800,000) ($600,000) ($400,000) ($200,000) $0 $200,000 $400,000 $600,000 $800,000 $1,000,000 $1,200,000 2017 2018 2019 2020 2021 2022 2023 2024 2025Year‐Over‐Year Dollar & Percentage Change
Annual Dollar Change Annual Percentage Change2.070 ‐ Total Other Financing Sources
FORECASTED
2020
2021
2022
2023
2024
2025
Transfers In
12,441
‐
‐
‐
‐
‐
Advances In
‐
207,258
‐
‐
‐
‐
All Other Financing Sources
3,484
‐
‐
‐
‐
‐
Other sources includes revenue that is generally classified as non‐operating. It is typically in the form of advances‐in which are the repayment of temporary
loans made from the general fund to other district funds. In FY 2020 the district receipted $0 as advances‐in and is projecting advances of $207,258 in FY
2021. The district also receives other financing sources such as refund of prior year expenditures in this category. The district is projecting that all other
financing sources will be $0 in FY 2021 and average $0 annually through FY 2025.
Includes proceeds from sale of notes, state emergency loans and advancements, operating transfers‐in, and all other financing sources like sale and loss of
assets, and refund of prior year expenditures.
In FY 21, the actvity in Other Financing Sources includes a repayment of an STRS advance from FY20.
$20,165
$17,206
$4
$362,972
$15,925
$207,258
$0
$0
$0
$0
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
0.0% 0.0% 0.0% 10.0% 20.0% 30.0% 40.0% 50.0% 60.0% 70.0% 80.0% 90.0% 100.0% 2020 2025Other Sources as % of Total Revenue
‐14.67% ‐99.98% 8940103.94% ‐95.61% 1201.46% ‐100.00% 0.00% 0.00% 0.00% ‐1000000.00% 0.00% 1000000.00% 2000000.00% 3000000.00% 4000000.00% 5000000.00% 6000000.00% 7000000.00% 8000000.00% 9000000.00% 10000000.00% ($400,000) ($300,000) ($200,000) ($100,000) $0 $100,000 $200,000 $300,000 $400,000 2017 2018 2019 2020 2021 2022 2023 2024 2025Year‐Over‐Year Dollar & Percentage Change
Annual Dollar Change Annual Percentage ChangeExpenditure Categories and Forecast Year‐Over‐Year Projected Overview
3‐Year Historical Actual Average Annual Dollar Change
Compared to 5‐Year Projected
Historical
Projected
Projected
Average
Average
Compared to
Annual
Annual
Historical
$$ Change
$$ Change
Variance
Salaries
$2,629,940
$2,802,287
$172,348
Benefits
$1,740,774
$1,368,424
($372,350)
Purchased Services
$629,320
$448,260
($181,060)
Supplies & Materials
$85,658
$112,274
$26,617
Capital Outlay
($28,307)
$1,527
$29,834
Intergov & Debt
$0
$0
$0
Other Objects
($6,089)
$31,368
$37,457
Other Uses
$328,861
($343,940)
($672,800)
Total Average Annual Change
$5,380,156
$4,420,201
($959,955)
4.66%
3.50%
‐1.17%
$4,420,201
Total expenditures increased 4.66% or $5,380,156 annually during
the past five years and is projected to increase 3.50% or $4,420,201
annually through FY2025. Other Uses has the largest projected
average annual variance compared to the historical average at ‐
$672,800.
Note: Expenditure average annual change is projected
to be >
On an annual average basis, revenues are projected to grow slower than
expenditures.
Salaries Salaries Benefits Benefits 0.0% 10.0% 20.0% 30.0% 40.0% 50.0% 60.0% 70.0% 80.0% 90.0% 100.0% 2020 2025Expenditure Categories Over Time
Salaries Benefits Purchased Services Supplies & Materials Capital Outlay Intergov & Debt Other Objects Other Uses$103,877,905
$110,318,243
$116,836,251
$120,293,224
$126,458,711
$129,945,529
$134,657,320
$138,643,100
$143,501,782
$148,559,715
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
6.20% 5.91% 2.96% 5.13% 2.76% 3.63% 2.96% 3.50% 3.52% 0.00% 1.00% 2.00% 3.00% 4.00% 5.00% 6.00% 7.00% $0 $1,000,000 $2,000,000 $3,000,000 $4,000,000 $5,000,000 $6,000,000 $7,000,000 2017 2018 2019 2020 2021 2022 2023 2024 2025Year‐Over‐Year Dollar & Percentage Change
Annual Dollar Change Annual Percentage Change3.010 ‐ Personnel Services
Salaries represent 56.08% of total expenditures and increased at a historical average annual rate of 4.01% or $2,629,940. This category of
expenditure is projected to grow at an average annual rate of 3.67% or $2,802,287 through FY 2025. The projected average annual rate of change
is ‐0.34% less than the five year historical annual average.
In May of 2018, the PEA and the Board agreed to a collective bargaining agreement runs from July 1, 2018 to June 30, 2021. The PEA agreed to a
base wage increase of 2.50% for FY19; and 2.0% for both FY20 and FY21. Insurance splits did not change (80% Board‐20% employee). The PSSA
negotiated a new contract in July of 2020. The contract expires on June 30, 2023. While containing a 1.25% increase on the base for the 2020‐
2021 school year, the financial details for the last 2 years will be negotiated via a re‐opener in the Spring of 2021.
Employee salaries and wages, including extended time, severance pay, supplemental contracts, etc.
$57,843,454 $63,032,847 $65,584,807 $68,805,416 $70,922,666 $73,593,329 $76,264,179 $78,998,540 $81,896,310 $84,934,104 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 56.1% 57.2% 0.0% 10.0% 20.0% 30.0% 40.0% 50.0% 60.0% 70.0% 80.0% 90.0% 100.0% 2020 2025Salaries as % of Total Expenditures
8.97% 4.05% 4.91% 3.08% 3.77% 3.63% 3.59% 3.67% 3.71% 0.00% 1.00% 2.00% 3.00% 4.00% 5.00% 6.00% 7.00% 8.00% 9.00% 10.00% $0 $1,000,000 $2,000,000 $3,000,000 $4,000,000 $5,000,000 $6,000,000 2017 2018 2019 2020 2021 2022 2023 2024 2025Year‐Over‐Year Dollar & Percentage Change
Annual Dollar Change Annual Percentage Change3.020 ‐ Employees' Benefits
Benefits represent 21.66% of total expenditures and increased at a three year historical average annual rate of 7.33% This category of expenditure
is projected to grow at an annual average rate of 4.57% through FY 2025. The projected average annual rate of change is ‐2.75% less than the
three year historical annual average due to forecasted premium increases of about 6% to 7% per year (projected medical trend rates have
adjusted downwards).
Future enrollment trends for health insurance are forecasted as follows:
2020‐2021: 815 employees (increase of 4 employees over 2019‐2020)
2021‐2022: 816 employees (increase of 1 employee over 2020‐2021)
2022‐2023: 818 employees (increase of 2 employees over 2021‐2022)
2023‐2024: 819 employees (increase of 1 employee over 2022‐2023)
Retirement for all employees, Workers Compensation, early retirement incentives, Medicare, unemployment, pickup on pickup, and all health‐
related insurances.
$22,440,413 $22,170,096 $24,178,991 $25,209,159 $27,392,418 $27,744,981 $29,202,397 $30,814,217 $32,497,478 $34,234,538 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 21.7% 23.0% 0.0% 10.0% 20.0% 30.0% 40.0% 50.0% 60.0% 70.0% 80.0% 90.0% 100.0% 2020 2025Benefits as % of Total Expenditures
‐1.20% 9.06% 4.26% 8.66% 1.29% 5.25% 5.52% 5.46% 5.35% ‐2.00% 0.00% 2.00% 4.00% 6.00% 8.00% 10.00% ($500,000) $0 $500,000 $1,000,000 $1,500,000 $2,000,000 $2,500,000 2017 2018 2019 2020 2021 2022 2023 2024 2025Year‐Over‐Year Dollar & Percentage Change
Annual Dollar Change Percentage of Total Budget3.030 ‐ Purchased Services
Purchased Services represent 15.94% of total expenditures and increased at a historical average annual rate of 3.37%. This category of
expenditure is projected to grow at an annual average rate of 2.15% through FY 2025. The projected average annual rate of change is ‐1.21% less
than the five year historical annual average.
Expenses for purchased services include a wide variety of expenditures, including:
• utilities;
• student transportation;
• tuition paid to other Districts for students placed at PLSD by court order (SF‐14, SF‐14H, SF‐PD, etc.—deductions automatically taken from State
Funding)
• College Credit Plus Tuition
• Legal fees and other professional services;
• repairs and maintenance
• all District major leases, including the 1:1 technology device leases
• network connectivity for Internet and WAN (wide area network) connectivity
Amounts paid for personal services rendered by personnel who are not on the payroll of the school district, expenses for tuition paid to other
districts, utilities costs and other services which the school district may purchase.
$17,571,040 $18,273,743 $19,231,175 $19,156,595 $20,161,703 $21,425,102 $21,802,273 $22,001,575 $22,200,117 $22,403,001 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 15.9% 15.1% 0.0% 10.0% 20.0% 30.0% 40.0% 50.0% 60.0% 70.0% 80.0% 90.0% 100.0% 2020 2025Purchased Services as % of Total
Expenditures
4.00% 5.24% ‐0.39% 5.25% 6.27% 1.76% 0.91% 0.90% 0.91% ‐1.00% 0.00% 1.00% 2.00% 3.00% 4.00% 5.00% 6.00% 7.00% ($200,000) $0 $200,000 $400,000 $600,000 $800,000 $1,000,000 $1,200,000 $1,400,000 2017 2018 2019 2020 2021 2022 2023 2024 2025Year‐Over‐Year Dollar & Percentage Change
Annual Dollar Change Annual Percentage Change3.040 ‐ Supplies & Materials
Some major supply categories include:
• Fuel for vehicles and buses, and maintenance and custodial supplies/repair parts (historically approximately 30% to 35% of supply
purchases)—fluctuations in fuel prices may significantly impact the expenditures in this category.
• Instructional materials, general supplies, textbooks (including CCP texts), and electronic subscriptions (about 65%‐70% of supply purchases)
Supplies & Materials represent 2.81% of total expenditures and increased at a historical average annual rate of 3.01%. This category of
expenditure is projected to grow at an annual average rate of 3.06% through FY 2025. The projected average annual rate of change is 0.05% more
than the five year historical annual average.
Expenditures for general supplies, instructional materials including textbooks and media material, bus fuel and tires, and all other maintenance
supplies.
$2,601,629 $3,290,247 $3,856,902 $3,674,519 $3,547,220 $3,954,666 $3,996,177 $4,033,162 $4,070,825 $4,108,591 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2.8% 2.8% 0.0% 10.0% 20.0% 30.0% 40.0% 50.0% 60.0% 70.0% 80.0% 90.0% 100.0% 2020 2025Supplies & Materials as % of Total
Expenditures
26.47% 17.22% ‐4.73% ‐3.46% 11.49% 1.05% 0.93% 0.93% 0.93% ‐10.00% ‐5.00% 0.00% 5.00% 10.00% 15.00% 20.00% 25.00% 30.00% ($300,000) ($200,000) ($100,000) $0 $100,000 $200,000 $300,000 $400,000 $500,000 $600,000 $700,000 $800,000 2017 2018 2019 2020 2021 2022 2023 2024 2025Year‐Over‐Year Dollar & Percentage Change
Annual Dollar Change Annual Percentage Change3.050 ‐ Capital Outlay
This line includes expenditures for items having at least a five‐year life expectancy, such as land, buildings, improvements of grounds, equipment,
computers/technology, furnishings, and buses.
Capital Outlay represent 0.88% of total expenditures and decreased at a historical average annual amount of ‐$28,307. This category of
expenditure is projected to grow at an annual average amount of $1,527 through FY 2025. The projected average annual change is more than the
five year historical annual average.
Expenditures for capital outlay in future years includes significant additions for the purchase of technological equipment. This is designed to allow
the District to stay up to speed with the increasing need for robust technology infrastructure and equipment. Finally, because of the savings
appreciated via our transportation contracts by purchasing our own buses, the District is also budgeting to purchase 2—3 additional buses and
3—4 additional school vehicles per year through 2024.
$1,079,348 $1,191,679 $909,593 $1,104,137 $1,106,759 $1,057,711 $1,071,465 $1,085,494 $1,099,801 $1,114,394 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0.9% 0.8% 0.0% 10.0% 20.0% 30.0% 40.0% 50.0% 60.0% 70.0% 80.0% 90.0% 100.0% 2020 2025Capital Outlay
10.41% ‐23.67% 21.39% 0.24% ‐4.43% 1.30% 1.31% 1.32% 1.33% ‐30.00% ‐25.00% ‐20.00% ‐15.00% ‐10.00% ‐5.00% 0.00% 5.00% 10.00% 15.00% 20.00% 25.00% ($400,000) ($300,000) ($200,000) ($100,000) $0 $100,000 $200,000 $300,000 2017 2018 2019 2020 2021 2022 2023 2024 2025Year‐Over‐Year Dollar & Percentage Change
Annual Dollar Change Annual Percentage Change3.060‐4.060 ‐ Intergovernmental & Debt
These lines account for pass through payments, as well as monies received by a district on behalf of another governmental entity, plus principal
and interest payments for general fund borrowing.
The Intergovernmental/Debt expenditure category details general fund debt issued by the District.
$0 $0 $0 $0 $0 $0 $0 $0 $0 $0 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0.0% 0.0% 0.0% 10.0% 20.0% 30.0% 40.0% 50.0% 60.0% 70.0% 80.0% 90.0% 100.0% 2020 2025Debt as % of Total Expenditures
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 10.00% 20.00% 30.00% 40.00% 50.00% 60.00% 70.00% 80.00% 90.00% 100.00% $0 $0 $0 $0 $0 $1 $1 $1 $1 $1 $1 2017 2018 2019 2020 2021 2022 2023 2024 2025Year‐Over‐Year Dollar & Percentage Change
Annual Dollar Change Annual Percentage Change4.300 ‐ Other Objects
Primary components for this expenditure line are membership dues and fees, ESC contract deductions, County Auditor/Treasurer fees, audit
expenses, and election expenses.
Other Objects represent 1.26% of total expenditures and decreased at a historical average annual rate of ‐0.34%. This category of expenditure is
projected to grow at an annual average rate of 1.91% through FY 2025. The projected average annual rate of change is 2.24% more than the five
year historical annual average.
This line contains miscellaneous expenditure categories, and is primarily based on historical trends. The major expenditures in this line include
county auditor and treasurer fees, and State Foundation deductions for the Fairfield County Educational Service Center
$1,580,002 $1,606,514 $1,534,783 $1,573,397 $1,588,246 $1,649,740 $1,675,829 $1,690,113 $1,717,251 $1,745,087 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 1.3% 1.2% 0.0% 10.0% 20.0% 30.0% 40.0% 50.0% 60.0% 70.0% 80.0% 90.0% 100.0% 2020 2025Other Objects as % of Total
Expenditures
1.68% ‐4.46% 2.52% 0.94% 3.87% 1.58% 0.85% 1.61% 1.62% ‐5.00% ‐4.00% ‐3.00% ‐2.00% ‐1.00% 0.00% 1.00% 2.00% 3.00% 4.00% 5.00% ($80,000) ($60,000) ($40,000) ($20,000) $0 $20,000 $40,000 $60,000 $80,000 2017 2018 2019 2020 2021 2022 2023 2024 2025Year‐Over‐Year Dollar & Percentage Change
Annual Dollar Change Annual Percentage Change5.040 ‐ Total Other Financing Uses
FORECASTED 2020 2021 2022 2023 2024 2025Transfers Out
1,532,441
520,000
645,000
20,000
20,000
20,000
Advances Out
207,258
‐
‐
‐
‐
‐
Other Financing Uses
‐
‐
‐
‐
‐
‐
Other uses includes expenditures that are generally classified as non‐operating. It is typically in the form of advances‐out which are then repaid
into the general fund from the other district funds. In FY 2020 the district had advances‐out and has no advances‐out forecasted through FY 2025.
The district can also move general funds permanently to other funds and as the schedule above presents, the district has transfers forecasted
through FY 2025. The table above presents the district's planned advances and transfers. The district can also have other uses of funds which is
reflected in the table above.
Operating transfers‐out, advances out to other funds, and all other general fund financing uses.
The transfers out scheduled for FY21 and FY22 will be to our permanent improvement funds, an a small portion each year (about $20,000) to our
WISE Fund.
$762,019 $753,116 $1,540,000 $770,000 $1,739,698 $520,000 $645,000 $20,000 $20,000 $20,000 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 1.4% 0.0% 0.0% 10.0% 20.0% 30.0% 40.0% 50.0% 60.0% 70.0% 80.0% 90.0% 100.0% 2020 2025Other Objects as % of Total
Expenditures
‐1.17% 104.48% ‐50.00% 125.93% ‐70.11% 24.04% ‐96.90% 0.00% 0.00% ‐150.00% ‐100.00% ‐50.00% 0.00% 50.00% 100.00% 150.00% ($1,500,000) ($1,000,000) ($500,000) $0 $500,000 $1,000,000 $1,500,000 2017 2018 2019 2020 2021 2022 2023 2024 2025Year‐Over‐Year Dollar & Percentage Change
Annual Dollar Change Annual Percentage ChangeFive Year Forecast
Actual FORECASTED Fiscal Year: 2020 2021 2022 2023 2024 2025 Revenue: 1.010 ‐ General Property Tax (Real Estate) 36,881,280 37,916,464 38,499,769 39,733,724 40,805,518 41,546,833 1.020 ‐ Public Utility Personal Property 2,041,883 2,216,914 2,271,064 2,325,214 2,379,364 2,433,515 1.030 ‐ Income Tax 19,485,812 19,508,885 19,707,528 20,101,185 20,735,428 21,507,064 1.035 ‐ Unrestricted Grants‐in‐Aid 55,429,680 55,241,190 55,528,767 56,110,625 56,952,330 58,322,938 1.040 ‐ Restricted Grants‐in‐Aid 1,014,908 999,216 1,004,216 1,004,216 1,004,216 1,004,216 1.050 ‐ Property Tax Allocation 4,698,276 4,791,588 4,877,355 4,989,361 5,104,138 5,198,104 1.060 ‐ All Other Operating Revenues 3,112,043 2,588,719 2,794,646 2,878,162 2,862,075 2,900,195 1.070 ‐ Total Revenue 122,663,883 123,262,976 124,683,345 127,142,487 129,843,069 132,912,865 Other Financing Sources: 2.010 ‐ Proceeds from Sale of Notes ‐ ‐ ‐ ‐ ‐ ‐ 2.020 ‐ State Emergency Loans and Adv ‐ ‐ ‐ ‐ ‐ ‐ 2.040 ‐ Operating Transfers‐In 12,441 ‐ ‐ ‐ ‐ ‐ 2.050 ‐ Advances‐In ‐ 207,258 ‐ ‐ ‐ ‐ 2.060 ‐ All Other Financing Sources 3,484 ‐ ‐ ‐ ‐ ‐ 2.070 ‐ Total Other Financing Sources 15,925 207,258 ‐ ‐ ‐ ‐ 2.080 ‐ Total Rev & Other Sources 122,679,808 123,470,234 124,683,345 127,142,487 129,843,069 132,912,865 Expenditures: 3.010 ‐ Personnel Services 70,922,666 73,593,329 76,264,179 78,998,540 81,896,310 84,934,104 3.020 ‐ Employee Benefits 27,392,418 27,744,981 29,202,397 30,814,217 32,497,478 34,234,538 3.030 ‐ Purchased Services 20,161,703 21,425,102 21,802,273 22,001,575 22,200,117 22,403,001 3.040 ‐ Supplies and Materials 3,547,220 3,954,666 3,996,177 4,033,162 4,070,825 4,108,591 3.050 ‐ Capital Outlay 1,106,759 1,057,711 1,071,465 1,085,494 1,099,801 1,114,394 Intergovernmental & Debt Service ‐ ‐ ‐ ‐ ‐ ‐ 4.300 ‐ Other Objects 1,588,246 1,649,740 1,675,829 1,690,113 1,717,251 1,745,087 4.500 ‐ Total Expenditures 124,719,013 129,425,529 134,012,320 138,623,100 143,481,782 148,539,715 Other Financing Uses 5.010 ‐ Operating Transfers‐Out 1,532,441 520,000 645,000 20,000 20,000 20,000 5.020 ‐ Advances‐Out 207,258 ‐ ‐ ‐ ‐ ‐ 5.030 ‐ All Other Financing Uses ‐ ‐ ‐ ‐ ‐ ‐ 5.040 ‐ Total Other Financing Uses 1,739,698 520,000 645,000 20,000 20,000 20,000 5.050 ‐ Total Exp and Other Financing Uses 126,458,711 129,945,529 134,657,320 138,643,100 143,501,782 148,559,715 6.010 ‐ Excess of Rev Over/(Under) Exp (3,778,903) (6,475,295) (9,973,975) (11,500,613) (13,658,713) (15,646,850) 7.010 ‐ Cash Balance July 1 (No Levies) 35,310,201 31,531,298 25,056,003 15,082,027 3,581,415 (10,077,298) 7.020 ‐ Cash Balance June 30 (No Levies) 31,531,298 25,056,003 15,082,027 3,581,415 (10,077,298) (25,724,149)Reservations
8.010 ‐ Estimated Encumbrances June 30 ‐ ‐ ‐ ‐ ‐ ‐ 9.080 ‐ Reservations Subtotal ‐ ‐ ‐ ‐ ‐ ‐ 10.010 ‐ Fund Bal June 30 for Cert of App 31,531,298 25,056,003 15,082,027 3,581,415 (10,077,298) (25,724,149) Rev from Replacement/Renewal Levies 11.010 & 11.020 ‐ Renewal Levies ‐ ‐ ‐ ‐ ‐ 11.030 ‐ Cumulative Balance of Levies ‐ ‐ ‐ ‐ ‐ ‐ 12.010 ‐ Fund Bal June 30 for Cert of Obligations 31,531,298 25,056,003 15,082,027 3,581,415 (10,077,298) (25,724,149) Revenue from New Levies 13.010 & 13.020 ‐ New Levies ‐ ‐ ‐ ‐ ‐ 13.030 ‐ Cumulative Balance of New Levies ‐ ‐ ‐ ‐ ‐ ‐ 15.010 ‐ Unreserved Fund Balance June 30 31,531,298 25,056,003 15,082,027 3,581,415 (10,077,298) (25,724,149)$0 $20,000,000 $40,000,000 $60,000,000 $80,000,000 $100,000,000 $120,000,000 $140,000,000 $160,000,000 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Revenue Compared to Expenditures
Revenue ExpenditureAre revenues sufficient to support the cost
(expenditures) of current services? The
historical trend can indicate a financial
health trend. If expenditures are greater
then revenue over time then financial
health will suffer and services may not be
0.0% 1.0% 2.0% 3.0% 4.0% 5.0% 6.0% 7.0% 2017 2018 2019 2020 2021 2022 2023 2024 2025Revenue Compared to Expenditures
YOY % Change
Revenue ExpenditureAre expenditures growing faster than
revenue? If revenue growth is outpaced by
spending then financial health suffers.
$2,486,195 $1,453,283 $1,700,909 ($3,778,903) ($6,475,295) ($9,973,975) ($11,500,613) ($13,658,713) ($15,646,850) 2017 2018 2019 2020 2021 2022 2023 2024 2025
Annual Revenue Surplus/(Shortfall) by FY
Surplus/(Shortfall) 2 per. Mov. Avg. (Surplus/(Shortfall))Revenue shortfall can be an indication of
the amount of additional revenue and/or
budget cuts needed to balance the budget.
The revenue shortfall in one or two years is
often the directional trend indicator of
revenue and/or cuts needed.
Cash balance can only be used once to offset revenue
shortfalls that exist. If cash balance is used too many
years in a row to balance the budget then the amount of
additional revenue and/or cuts needed grows
exponentially. While cash balance can help soften the
urgency of budget stress it is not a long term solution.
($30,000,000) ($20,000,000) ($10,000,000) $0 $10,000,000 $20,000,000 $30,000,000 $40,000,000 2017 2018 2019 2020 2021 2022 2023 2024 2025Cash Balance
2014 2015 2016 2017 2018 2019 2020 Est. 2021 Est. 2022 Est. 2023 Est. 2024 Est. Agriculture Update YOY Change 1.0% ‐0.3% 13.5% 6.1% ‐3.0% 7.1% 0.5% 0.6% ‐0.8% 0.5% 0.5% Residential Update YOY Change 0.0% 0.1% 7.6% 0.4% 0.4% 20.8% 0.1% 0.1% 6.9% 0.3% 0.3% Combined Class I Update YOY Change 0.0% 0.1% 7.8% 0.5% 0.4% 20.6% 0.1% 0.1% 6.8% 0.3% 0.3% ‐5.0% 0.0% 5.0% 10.0% 15.0% 20.0% 25.0%
YOY Update Change in Class I Property by Sub‐Classification
Agriculture Update YOY Change Residential Update YOY Change Combined Class I Update YOY Change
2014 2015 2016 2017 2018 2019 2020 Est. 2021 Est. 2022 Est. 2023 Est. 2024 Est. Agriculture New YOY Change ‐1.0% 0.2% 0.0% ‐11.5% ‐0.5% ‐2.4% ‐1.3% ‐0.5% ‐0.5% ‐0.5% ‐0.5% Residential New YOY Change 1.3% 1.5% 1.4% 1.6% 1.8% 1.9% 1.8% 1.8% 1.8% 1.8% 1.8% Combined Class I New YOY Change 1.2% 1.5% 1.4% 1.4% 1.8% 1.8% 1.8% 1.8% 1.8% 1.8% 1.8% ‐14.0% ‐12.0% ‐10.0% ‐8.0% ‐6.0% ‐4.0% ‐2.0% 0.0% 2.0% 4.0%
YOY New Construction Change in Class I Property by Sub‐Classification
Agriculture New YOY Change Residential New YOY Change Combined Class I New YOY Change
2014 2015 2016 2017 2018 2019 2020 Est. 2021 Est. 2022 Est. 2023 Est. 2024 Est. Class II Business Update YOY Change ‐2.0% ‐0.9% 0.0% 1.4% ‐0.7% ‐3.1% ‐1.0% ‐1.0% 4.4% ‐0.5% ‐0.5% Class II Business New YOY Change ‐2.0% 6.1% ‐6.3% 4.0% 1.0% 9.2% 3.0% 2.0% 2.0% 1.5% 1.5% ‐8.0% ‐6.0% ‐4.0% ‐2.0% 0.0% 2.0% 4.0% 6.0% 8.0% 10.0%
YOY Change in Class II Property ‐ Update and New Construction
Class II Business Update YOY Change Class II Business New YOY ChangeProperty Values Tax Year ‐ 2020
Agriculture
Residential
Class II
PUPP
Total
2014
17,853,810
897,240,690
181,411,120
19,304,470
1,115,810,090
2015
17,849,630
912,120,310
190,934,860
21,084,440
1,141,989,240
2016
20,260,860
995,066,890
178,808,490
21,906,630
1,216,042,870
2017
19,162,990
1,015,299,740
188,373,010
23,973,550
1,246,809,290
2018
18,502,210
1,038,310,020
188,993,210
26,389,680
1,272,195,120
2019
19,373,960
1,273,816,820
200,415,100
30,273,440
1,523,879,320
2020
19,223,960
1,298,519,341
204,425,582
31,023,440
1,553,192,323
2021
19,232,960
1,323,690,126
206,501,514
31,773,440
1,581,198,040
2022
18,980,885
1,439,106,414
219,736,607
32,523,440
1,710,347,346
2023
18,980,885
1,469,449,558
222,032,656
33,273,440
1,743,736,539
2024
18,980,885
1,500,949,558
224,332,656
34,023,440
1,778,286,539
1% 84% 13% 2%Agriculture Residential Class II PUPP
Real Estate Property Values and Tax Rates
Tax Yr
Valuation
Value Change
Class I Rate
Change
Class II Rate
Change
2019
1,493,605,880
247,800,440
27.70
‐
33.78
‐
2020
1,522,168,883
28,563,003
27.67
(0.03)
34.01
0.24
2021
1,549,424,600
27,255,717
27.64
(0.03)
34.25
0.24
2022
1,677,823,906
128,399,306
26.17
(1.47)
33.00
(1.26)
2023
1,710,463,099
32,639,193
26.10
(0.07)
33.13
0.13
2024
1,744,263,099
33,800,000
26.04
(0.07)
33.26
0.13
Grade
IC Head Count
IC JVS
Part
Time**
IC JVS Full
Time~~
Special Ed
Head
Count
Open
Enroll
Community
School
KG
633
73
8
30
1
733
77
5
29
2
733
89
4
24
3
761
96
9
28
4
788
127
9
34
5
776
109
3
24
6
830
99
7
27
7
860
119
5
26
8
906
110
5
23
9
882
‐
‐
120
4
27
10
892
6
1
112
4
34
11
768
21
98
91
8
22
12
866
27
63
107
15
32
Subtotal
10,428
54
162
1,329
88
360
PS
109
‐
‐
109
1
‐
PS Itinerant
28
‐
‐
28
‐
Total
10,565
54
162
1,466
89
360
Total PLSD
Served w/FT
JVS and PS
10,727
**Included in PLSD IC Head Count
~~Not included in PLSD Head Count
This chart shows key enrollment data as of November 12, 2020.
This chart shows historical and projected head counts in the District.
10,191 10,305 10,446 10,530 10,428 10,360 10,536 10,753 10,915 11,077 11,212 11,3689,600
9,800
10,000
10,200
10,400
10,600
10,800
11,000
11,200
11,400
11,600
2017
2018
2019
2020 2021 IC
Pull
2021
EMIS
2022
2023
2024
2025
2026
2027
Enr
o
llmen
t
Fiscal or School Year
PLSD Historical and Projected Head Count Enrollment
(Projections Based on 2021 EMIS Count)
FY 2021 Current Revenue Forecast Compared to Prior $100 $0 2.xx Other Sources $207,258 1.06 Other Rev. ‐$141,523 1.05 Prop Tax Alloc. ‐$100,539 1.035, 1.04 State Funding $1,126,405 1.03 Income Tax ‐$12,154 1.02 Public Utility ‐$1,273 1.01 Real Estate $362,737 FY 2021 Current Expenditure Forecast Compared to Prior $0 Intergov + Debt + Other $0 4.3 Other Exp ‐$31,000 3.05 Capital ‐$77,188 3.04 Supplies ‐$61,318 3.03 Purchased Serv. $726,096 3.02 Benefits ‐$417,918 3.01 Salaries ‐$852,690 Note: Individual category variances between ‐$100 and +$100 are not reflected. Summary Analysis of Current Compared to Last Filed Forecast Previous Filed Forecast: 05/2020 FY 2021 Impact Net FY 2021 Revenue Variance $1,440,911 Net FY 2021 Exependiture Variance ‐$714,018 Net FY 2021 Impact on Ending Cash Balance $2,154,929 Favorable Percentage of Budget 1.66% The negative effects of COVID‐19 have not been as deep as previously forecasted for Real Estate, State Aid and Income Tax. But COVID‐19 has led to more than 100 additional students (compared to last year) deciding to attend community schools and to take scholarships (Jon Peterson, Autism, EdChoice), which has increased forecasted costs in Purchased Services. $0 $207,258 ‐$141,523 ‐$100,539 $1,126,405 ‐$12,154 ‐$1,273 $362,737 2.xx Other Sources 1.06 Other Rev. 1.05 Prop Tax Alloc. 1.035, 1.04 State Funding 1.03 Income Tax 1.02 Public Utility 1.01 Real Estate
FY 2021 Current Revenue Forecast Compared to Prior
$0 $0 ‐$31,000 ‐$77,188 ‐$61,318 $726,096 ‐$417,918 ‐$852,690 Intergov + Debt + Other 4.3 Other Exp 3.05 Capital 3.04 Supplies 3.03 Purchased Serv. 3.02 Benefits 3.01 SalariesFY 2021 Current Expenditure Forecast Compared to Prior
FY2020 FY2021 FY2022 FY2023 FY2024 FY2025 Revenue (44,888) 1,440,911 (259,571) 848,829 (115,304) 0 Expenditures (2,323,580) (714,018) (1,429,399) (1,611,207) (1,823,893) 0 Net Annual Change 2,278,692 2,154,929 1,169,828 2,460,036 1,708,589 0 As % of Budget 1.8% 1.7% 0.9% 1.8% 1.2% 0.0% 5‐Year Cumulative Change FY 2020 ‐ 2024 5 Yr Cumulative 5 Yr Cumulative Revenue Change Expenditure Change 1.01 Real Estate 1,548,690 3.01 Salaries (6,108,039) 1.02 Pub Utility 32,333 3.02 Benefits (2,057,095) 1.03 Income Tax 4,800,995 3.03 Purchased Serv. 1,730,574 1.035,1.040 State (5,842,708) 3.04 Supplies (720,715) 1.05 Prop Tax Alloc. (402,952) 3.05 Capital (628,676) 1.060 All Other 1,526,362 4.3 Other Exp (325,404) 2.xx Other Sources 207,258 Intergov + Debt + Other 207,257 Cumulative Revenue Change 1,869,978 Cumulative Expenditure Change (7,902,097) Net Cumulative Five‐Year Change $9,772,075 Favorable Net Cumulative Cash Change as % of Budget 1.45% Net Cumulative Change in Levy Reservation $0 Note: Net Cumulative Five‐Year Change W/Renewal Levy Reservation Variance $9,772,075 The negative effects of COVID‐19 have not been as deep as previously forecasted for Income Tax. But these gains are offset by a negative outlook on State Funding. On the expense side, our reductions in staffing and non‐personnel expenses provides a large portion of the reductions in overall expenses. But a moderate chunk of that is offset by the anticipated increases in community school and scholarship enrollment. 2,278,692 2,154,929 1,169,828 2,460,036 1,708,589 ‐ Current Net Annual Revenue & Expenditure Changes Compared to Last Filed Forecast
Actual FORECASTED 2020 2021 2022 2023 2024 2025 Revenue: 1.01 Real Estate 1 362,737 415,737 504,806 265,409 ‐ 1.02 Pub Utility ‐ (1,273) 10,931 11,202 11,473 ‐ 1.03 Income Tax ‐ (12,154) 1,388,088 1,693,817 1,731,244 ‐ 1.035,1.040 State (10,722) 1,126,405 (2,311,544) (1,878,680) (2,768,167) ‐ 1.05 Prop Tax Alloc. 11,673 (100,539) (102,326) (104,676) (107,084) ‐ 1.060 All Other (45,839) (141,523) 339,543 622,360 751,821 ‐ 1.070 ‐ Total Revenue (44,887) 1,233,653 (259,571) 848,829 (115,304) ‐ 2.xx Other Sources ‐ 207,258 ‐ ‐ ‐ ‐ 2.080 ‐ Total Rev & Other Sources (44,888) 1,440,911 (259,571) 848,829 (115,304) ‐ Actual FORECASTED 2020 2021 2022 2023 2024 2025 Expenditures: 3.01 Salaries (1,011,400) (852,690) (1,388,384) (1,409,626) (1,445,939) ‐ 3.02 Benefits 81,724 (417,918) (564,775) (563,593) (592,532) ‐ 3.03 Purchased Serv. (839,584) 726,096 728,040 613,991 502,031 ‐ 3.04 Supplies (430,375) (61,318) (69,252) (77,238) (82,532) ‐ 3.05 Capital (289,570) (77,188) (82,162) (87,223) (92,533) ‐ 4.3 Other Exp (41,633) (31,000) (52,866) (87,517) (112,388) ‐ 4.5 Total Expenditures (2,530,837) (714,018) (1,429,399) (1,611,207) (1,823,893) ‐ Intergov + Debt + Other 207,257 ‐ ‐ ‐ ‐ ‐ 5.05 Total Exp and Uses (2,323,580) (714,018) (1,429,399) (1,611,207) (1,823,893) ‐ 6.01 Surplus/(Shortfall) 2,278,692 2,154,929 1,169,828 2,460,036 1,708,589 ‐ 7.01 July 1 Cash Bal. ‐ 2,278,693 4,433,622 5,603,449 8,063,486 ‐ 7.02 June 30 Cash Bal 2,278,693 4,433,622 5,603,449 8,063,486 9,772,075 ‐
Current Trend Forecast Cash Balance Compared to 05/2020 Forecast
FY 2021 FY 2022 FY 2023 FY 2024 FY 2025
Ending Cash Balance at: Previous Forecast 20,622,381 9,478,578 (4,482,071) (19,849,373) (19,849,373) Updated Forecast 25,056,003 15,082,027 3,581,415 (10,077,298) (25,724,149) Change ‐ Favorable/(Unfavorable) 4,433,622 5,603,449 8,063,486 9,772,075 (5,874,776) % of Cumulative Annual Budget 3.4% 4.2% 5.8% 6.8% ‐4.0% Compared to the May 2020 Forecast, this Forecast does carry an increase in cumulative cash by FY24 of $9,772,075. But this needs to be tempered by the fact that the forecasted balance for FY24 is still ($10,077,298), and is ($25,124,749) by FY25. The District will not be able to end any fiscal year with negative cash, so key decisions must be made about operations by the end of 2022.