Five Year Forecast Financial Report · Revenue Overview 4 1.010 ‐ General Property Tax (Real...

1

October,2016

DeerParkCommunityCitySchools

FiveYearForecastFinancialReport

© Public Finance Resources, Inc. 2016


TableofContents

PAGE#

TableofContents 2

ExecutiveSummary 3

RevenueOverview 41.010‐GeneralPropertyTax(RealEstate) 51.020‐PublicUtilityPersonalProperty 61.030‐IncomeTax 71.035‐UnrestrictedGrants‐in‐Aid 81.040&1.045‐RestrictedGrants‐in‐Aid 91.050‐PropertyTaxAllocation 101.060‐AllOtherOperatingRevenues 112.070‐TotalOtherFinancingSources 12

ExpendituresOverview 133.010‐PersonnelServices 143.020‐EmployeeBenefits 153.030‐PurchasedServices 163.040‐SuppliesandMaterials 173.050‐CapitalOutlay 183.060‐4.060‐Intergovernmental&Debt 194.300‐OtherObjects 205.040‐TotalOtherFinancingUses 21

ForecastCompare 22

FiveYearForecast 23

OhioDepartmentofEducation'spurposes/objectivesforthefive‐yearforecastare:

1.

2.

3.

2

Toengagethelocalboardofeducationandthecommunityinthelongrangeplanninganddiscussionsoffinancialissuesfacingtheschooldistrict.Toserveasabasisfordeterminingtheschooldistrict'sabilitytosignthecertificaterequiredbyO.R.C.§5705.412,commonlyknownasthe"412certificate."ToprovideamethodfortheDepartmentofEducationandAuditorofStatetoidentifyschooldistrictswithpotentialfinancialproblems.

ForecastPurpose/Objectives


October,2016 ExecutiveSummary DeerParkCommunityCitySchools

FiveYearForecast‐SimplifiedStatement FiscalYear FiscalYear FiscalYear FiscalYear FiscalYear

2017 2018 2019 2020 2021

BeginningBalance 9,716,873 9,835,532 9,532,549 8,799,797 7,638,727

+Revenue 15,673,093 15,977,951 16,238,684 16,461,036 16,726,320+ProposedRenew/ReplacementLevies ‐ ‐ ‐ ‐ ‐+ProposedNewLevies ‐ ‐ ‐ ‐ ‐‐Expenditures (15,554,434) (16,280,933) (16,971,436) (17,622,105) (18,557,487)=RevenueSurplusorDeficit 118,659 (302,983) (732,752) (1,161,070) (1,831,167)

EndingBalance 9,835,532 9,532,549 8,799,797 7,638,727 5,807,560

RevenueSurplusorDeficitw/oLevies 118,659 (302,983) (732,752) (1,161,070) (1,831,167)EndingBalancew/oLevies 9,835,532 9,532,549 8,799,797 7,638,727 5,807,560

Summary:

3

Thefiveyearforecastuseshistoricaldatacombinedwithcurrenttrendstomakeprojections.AlthoughtheDistricttriestoaccountforasmuchinformationaspossible,therearestillmanyunknownsthatcouldhaveasignificantimpactonthisforecast.Thedatacontainedinthisreportisbasedontheinformationthatisavailabletoday,asdescribedinthenotesandassumptions.

Theexecutivesummaryissimplyacondensedversionofthefullforecast.Itshowsthefiveprojectedyearsofrevenue,expenditures,surplusordeficit,andendingcashbalance.TheDistrictusesarecommended60dayscashbalance,whichisabout$3million.Althoughtheprojectionsshowdeficitspendingbeginninginfiscalyear2018,theDistrictisprojectingtoexceedthatrecommendedcashbalancebyalmost$3millionattheendoffiscalyear2021.Whatthismeansforourtaxpayersisthatwedonotseetheneedforanoperatinglevythroughthelifeofthisforecast.

$15,673,093 $15,977,951 $16,238,684 $16,461,036 $16,726,320

$15,554,434 $16,280,933 $16,971,436 $17,622,105 $18,557,487

$0$2,000,000$4,000,000$6,000,000$8,000,000$10,000,000$12,000,000$14,000,000$16,000,000$18,000,000$20,000,000

2017 2018 2019 2020 2021

Revenuevs.Expenditures

Revenue Renew/ReplacementLevies NewLevies Expenditures



RevenueOverview

Prev.5‐Year PROJECTED 5‐Year

Avg.Annual FiscalYear FiscalYear FiscalYear FiscalYear FiscalYear Avg.Annual

Change 2017 2018 2019 2020 2021 Change

Revenue:1.010‐RealEstate 4.20% ‐3.10% 1.58% 0.36% 0.03% 0.32% ‐0.16%1.020‐PublicUtility 6.93% 4.79% 5.27% 5.21% 3.49% 4.01% 4.56%1.030‐IncomeTax n/a 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%1.035‐StateFunding 5.24% 0.78% 3.87% 4.80% 4.96% 4.78% 3.84%1.040‐RestrictedAid 247.17% 19.08% 2.95% 0.71% ‐0.47% 0.53% 4.56%1.045‐RestrFederalSFSF ‐87.59% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%1.050‐PropertyTaxAlloc ‐10.15% ‐0.53% 0.29% 0.19% ‐0.02% 0.23% 0.03%1.060‐AllOtherOperating ‐2.68% ‐1.85% ‐1.11% ‐1.07% ‐1.08% ‐1.10% ‐1.24%

1.070‐TotalRevenue 2.00% ‐1.34% 2.10% 1.63% 1.39% 1.61% 1.08%2.070‐TotalOtherSources 243.30% ‐72.99% ‐88.81% 0.00% ‐100.00% #DIV/0! 0.00%

2.080‐TotalRev&OtherSrcs 2.11% ‐1.78% 1.95% 1.63% 1.37% 1.61% 0.95%

2016 2021RealEstate 57.0% 53.9%PublicUtility 5.9% 7.1%IncomeTax 0.0% 0.0%StateFunding 23.2% 26.7%PropTaxAllo 7.2% 6.9%AllOthrOpRe 6.0% 5.4%OthrSources 0.6% 0.0%

4

Overtheforecastperiod,theDistrictisprojectingalmostnonewrevenue.LocaltaxesmakeupamajorityoftheDistrict'srevenueandthisareaisnotexpectedtogrowduetotheDistrictbeinglandlockedandfullydeveloped.TheDistricthasbenefitedfromthenewstatefundingformula,butbeyondthecurrentbienniumitisdifficulttoprojectthislineitem.Itisimportanttonotethatweprojectinga1.12%increaseintotalrevenuecomparedto2%historicalaverage.Thereasonforthisisbecauserealestatecollectionswereupinfiscalyear2016comparedtoprioryearsandthisisnotprojectedtocontinue.Thisisanareathathasthepotentialtochange,butbasedonhistoricalcollectionswewouldseeaslightdecreaseinfiscalyear2017.

RealEstate57.0%

PublicUtility5.9%

IncomeTax0.0%

StateFunding23.2%

PropTaxAlloc7.2%

AllOthrOpRev6.0%

OthrSources0.6%

2016

RealEstate53.9%

PublicUtility7.1%

IncomeTax0.0%

StateFunding26.7%

PropTaxAlloc6.9%

AllOthrOpRev5.4%

OthrSources0.0%

2021



1.010‐GeneralPropertyTax(RealEstate)

ProjectedRevRenewalLevyRevenue2012 $7,369,594 $1

FY2016‐Rea 2013 $7,418,546

0.57036073 2014 $8,310,769

2015 $8,949,349

2016 $9,101,584

2017 $8,818,993 $0

2018 $8,958,573 $0

2019 $8,991,219 $0

2020 $8,993,874 $0

2021 $9,022,333 $0

Year‐over‐Actual5‐YeProjected5‐YearAverage2012 ‐1.07% 4.20%2013 0.66% 4.20%2014 12.03% 4.20%2015 7.68% 4.20%2016 1.70% 4.20%2017 ‐3.10% ‐0.16%2018 1.58% ‐0.16%2019 0.36% ‐0.16%2020 0.03% ‐0.16%2021 0.32% ‐0.16%

*Projected%trendsincluderenewallevies5

Generalpropertytax(realestate)flowstothedistrictthroughtheCountyAuditor'sOffice.Theamountsforthecurrentfiscalyeararebasedonactualcollectionsfromadvancepayments,butatthistimetheDistricthasnotreceivedthefallsettlementpayment.Fiscalyear2015isthefirstyeartoincludethefullimpactofthelevypassedinNovember2013.TheAuditorcalculateshisestimatesbasedoncollectionsofapproximately96%oftheDistrict'spropertytaxduplicate.Inaddition,wehaveaccountedforanestimateofdelinquenciestobecollected.Futurefiscalyearsarebasedoncurrenthousingmarkettrends.Thetriennialupdatein2014resultedinasmallnetincreaseinvaluesfortaxescollectedincalendaryear2015.Itisbelievedthatvalueswilldecreaseslightlybetweentheyearsoffiscalyear2016andfiscalyear2017.Theincreasesforfiscalyear2018,2019,and2020arereflectiveofthereappraisalin2017.Duringtheupdatein2014,valuesroseby0.37%.Basedontheslowrecoveryofthehousingmarket,theDistrictispredictingsmalldecreasesfollowedbyslightincreasesinvaluationoverthelifeoftheforecast.

RevenuecollectedfromtaxesleviedbyaschooldistrictbytheassessedvaluationofrealpropertyusingeffectivetaxratesforclassI(residential/agricultural)andclassII(business).

57.0%

FY2016‐ RealEstateasa%ofTotalRevenue

$7,369,594

$7,418,546

$8,310,769

$8,949,349

$9,101,584

$8,818,993

$8,958,573

$8,991,219

$8,993,874

$9,022,333

$0

$0

$0

$0

$0

$0

$2,000,000

$4,000,000

$6,000,000

$8,000,000

$10,000,000

2012 2013 2014 2015 2016 2017 2018 2019 2020 2021

GeneralPropertyTax(RealEstate)ActualandProjected

ProjectedRevenue RenewalLevyRevenue

4.20%‐0.16%

‐4.0%

‐2.0%

0.0%

2.0%

4.0%

6.0%

8.0%

10.0%

12.0%

14.0%

2012 2013 2014 2015 2016 2017 2018 2019 2020 2021

Year‐over‐YearRevenueTrend

Year‐over‐YearRevenueVariance Actual5‐YearAverage Projected5‐YearAverage



1.020‐PublicUtilityPersonalProperty

ProjectedRevRenewalLevyRevenueFY2016‐Pub 2012 $600,492 $600,492

2013 $710,466 $710,466

2014 $811,375 $811,375

2015 $894,263 $894,263

2016 $948,193 $948,193

2017 $993,566 $0 $993,566

2018 $1,045,972 $0 $1,045,972

2019 $1,100,474 $0 $1,100,474

2020 $1,138,883 $0 $1,138,883

2021 $1,184,607 $0 $1,184,607

Year‐over‐Actual5‐YeProjected5‐YearAverage2012 ‐14.11% 6.93%2013 18.31% 6.93%2014 14.20% 6.93%2015 10.22% 6.93%2016 6.03% 6.93%2017 4.79% 4.56%2018 5.27% 4.56%2019 5.21% 4.56%2020 3.49% 4.56%2021 4.01% 4.56%


Overthepastfiveyears,publicutilitypersonalpropertyhasincreasedby6.93%.TheprojectionsforFY17‐FY21arebasedonthesehistoricalincreasescombinedwiththeexpectedincreasesfromreappraisalin2017.

TheDistrictnolongerreceivestangiblepersonalpropertytaxrevenuewhichwaspreviouslyrecordedonthislineitem.

Revenuegeneratedfrompublicutilitypersonalpropertyvaluationsmultipliedbythedistrict'sfullvotedtaxrate.

$600,492

$710,466

$811,375

$894,263

$948,193

$993,566

$1,045,972

$1,100,474

$1,138,883

$1,184,607

$0 $0 $0

$0 $0

$0

$200,000

$400,000

$600,000

$800,000

$1,000,000

$1,200,000

$1,400,000

2012 2013 2014 2015 2016 2017 2018 2019 2020 2021

TangiblePersonalPropertyTaxActualandProjected


6.93%4.56%

‐20.0%

‐15.0%

‐10.0%

‐5.0%

0.0%

5.0%

10.0%

15.0%

20.0%

2012 2013 2014 2015 2016 2017 2018 2019 2020 2021



5.9%

FY2016‐ PublicUtilityasa%ofTotalRevenue



1.030‐IncomeTax

ProjectedRevRenewalLevyRevenueFY2016‐Inco 0 2012 ‐

2013 ‐2014 ‐2015 ‐2016 ‐2017 ‐ ‐2018 ‐ ‐2019 ‐ ‐2020 ‐ ‐2021 ‐ ‐

Year‐over‐Actual5‐YeProjected5‐YearAverage2012 n/a #DIV/0!2013 n/a #DIV/0!2014 n/a #DIV/0!2015 n/a #DIV/0!2016 n/a #DIV/0!2017 0.00% 0.00%2018 0.00% 0.00%2019 0.00% 0.00%2020 0.00% 0.00%2021 0.00% 0.00%


Revenuecollectedfromincometaxearmarkedspecificallytosupportschoolswithavoterapprovedtaxbyresidentsoftheschooldistrict;separatefromfederal,stateandmunicipalincometaxes.

TheDistrictdoesnothaveanincometax.

0.0%

FY2016‐ IncomeTaxasa%ofTotalRevenue

0.00%

0.00%0.0%

10.0%

20.0%

30.0%

40.0%

50.0%

60.0%

70.0%

80.0%

90.0%

100.0%

2012 2013 2014 2015 2016 2017 2018 2019 2020 2021



$0 $0 $0 $0 $0 $0 $0 $0 $0 $0

$‐ $‐ $‐ $‐ $‐

$0

$0

$0

$1

$1

$1

2012 2013 2014 2015 2016 2017 2018 2019 2020 2021

IncomeTaxActualandProjected




1.035‐UnrestrictedGrants‐in‐Aid

FY2016‐Unr 0

8

FundsreceivedthroughtheStateFoundationProgramwithnorestriction.

Stateaidisprojectedtoincreaseslightlyinfiscalyear2017.ThecurrentfundingmodelapprovedbytheStateLegislatureprovidesmoreassistanceinthebasicaidforsmaller,lowwealthschooldistricts.TheDistrictiscurrentlyontheformula,butisprojectedtomovetothegrowthcapinFY18‐FY21.TheDistrictisestimatingslowgrowthinenrollment,whichcombinedwithslightincreasesinvaluationhaveresultedinanincreaseinthestateshareindexoverthelifeoftheforecast.ForFY17,theDistrictanticipatesthestateshareindextobe34.1%,whichequatesto$2048ofthetotal$6000corefundingperpupil.

22.5%

FY2016‐ UnresStateAidasa%ofTotalRevenue

$2,804,153

$2,970,992

$3,183,001

$3,442,494

$3,590,461

$3,618,292

$3,758,208

$3,938,617

$4,133,817

$4,331,614

$0

$500,000

$1,000,000

$1,500,000

$2,000,000

$2,500,000

$3,000,000

$3,500,000

$4,000,000

$4,500,000

$5,000,000

2012 2013 2014 2015 2016 2017 2018 2019 2020 2021

UnrestrictedGrants‐in‐AidActualandProjected

5.24% 3.84%

0.0%

1.0%

2.0%

3.0%

4.0%

5.0%

6.0%

7.0%

8.0%

9.0%

2012 2013 2014 2015 2016 2017 2018 2019 2020 2021





1.040&1.045‐RestrictedGrants‐in‐Aid

FY2016‐Res 0

9

FundsreceivedthroughtheStateFoundationProgramorotherallocationsthatarerestrictedforspecificpurposes.

Thislineitemincludesrevenuesuchasreimbursementforspecialeducationcatastrophiccost,aswellaseconomicallydisadvantaged,andcareertechfundsfromtheFoundation.DeerParkreceivedonly$5,833infiscalyear2013forfiscalyear2012forcatastrophicreimbursementsanddidnotreceivefundsinfiscalyear2014duetotheimplementationofanewsubmissionsystem.Startinginfiscalyear2014thestateincreasedtheavailablepoolforreimbursementandasaresult,DeerParkreceivedapproximately$32,000forfiscalyear2013.Bothfiscalyear2014and2015catastrophiccostswerereimbursedinfiscalyear2015,withoneyearatatimebeingreceivedfromfiscalyear2016goingforward.Fundingforeconomicallydisadvantagedstudentswasrequiredtobecodedtothislineitemstartinginfiscalyear2014.ItisimportanttokeepinmindthatthesearenotadditionalfundsgiventotheDistrictbytheState‐theyaresimplyfundsthatwerepreviouslyincludedinline1.035.Fiscalyears2017‐2021arebasedonthesamecriteriaastherestoftheFoundationpayments.

0.7%

FY2016‐ RestStateAidasa%ofTotalRevenue

$90,061

$11,626

$153,484

$193,781

$110,984

$132,159

$136,056

$137,021

$136,378

$137,101

$0

$50,000

$100,000

$150,000

$200,000

$250,000

2012 2013 2014 2015 2016 2017 2018 2019 2020 2021

RestrictedGrants‐in‐AidActualandProjected

208.93% 4.56%

‐200.0%

0.0%

200.0%

400.0%

600.0%

800.0%

1000.0%

1200.0%

1400.0%

2012 2013 2014 2015 2016 2017 2018 2019 2020 2021





1.050‐PropertyTaxAllocation

ProjectedRevRenewalLevyRevenueFY2016‐Pro 0 2012 $1,544,291

2013 $1,277,631

2014 $1,297,575

2015 $1,329,682

2016 $1,145,605

2017 $1,139,568 $0

2018 $1,142,928 $0

2019 $1,145,139 $0

2020 $1,144,870 $0

2021 $1,147,452 $0

Year‐over‐Actual5‐YeProjected5‐YearAverage2012 ‐23.69% ‐10.15%2013 ‐17.27% ‐10.15%2014 1.56% ‐10.15%2015 2.47% ‐10.15%2016 ‐13.84% ‐10.15%2017 ‐0.53% 0.03%2018 0.29% 0.03%2019 0.19% 0.03%2020 ‐0.02% 0.03%2021 0.23% 0.03%


OnleviespriortoNovember2013,statelawgrantedtaxreliefintheformofa10%reductioninrealpropertytaxbills.Inaddition,a2.5%rollbackwasgrantedonresidentialpropertytaxes.Additionaltaxreliefisgrantedtoqualifiedelderlyanddisabledhomeownersbasedontheirincome.TheStatereimbursestheDistrictforthelossofpropertytaxesasaresultofsuchprovisionsinthelawandwillcontinuetodosoforleviespassedpriortoNovember2013.

PleasenotethatestimatesinthiscategoryalsoreflectthedrasticcutssufferedbytheDistrictwiththeeliminationofapproximately$215,000yearlyelectricderegulationreimbursementfromthestateaswellasareductionofover$500,000fromfiscalyear2011‐2013instatereimbursementsduetothephaseoutoftangiblepersonalpropertytaxreplacement.

ExpansionofHomesteadExemption:Taxpayerswhoare65yearsofageorpermanentlydisablednowreceiveanexemptionof$25,000ofmarketvaluefromtheirhomesbeforetheyaretaxed.WiththepassageofHB59,theHomesteadExemptionrevertedbacktobeingmeanstested.Homeownerscurrentlyreceivingtheexemptionhavebeengrandfatheredintotheprogram.HomeownersapplyingafterHB59'seffectivedatewillhavetoadheretoanewsetofdeterminingfactors.However,thisisstillanothersignificantpropertytaxreductionforthoseeligibletaxpayersinourdistrict.

IncludesfundsreceivedforTangiblePersonalPropertyTaxReimbursement,ElectricDeregulation,HomesteadandRollback.

7.2%

FY2016‐ PropTaxAllocationasa%ofTotal

Revenue

‐10.15%

0.03%

‐30.0%

‐25.0%

‐20.0%

‐15.0%

‐10.0%

‐5.0%

0.0%

5.0%

2012 2013 2014 2015 2016 2017 2018 2019 2020 2021



$1,544,291

$1,277,631

$1,297,575

$1,329,682

$1,145,605

$1,139,568

$1,142,928

$1,145,139

$1,144,870

$1,147,452

$0 $0 $0$0

$0

$0

$500,000

$1,000,000

$1,500,000

$2,000,000

2012 2013 2014 2015 2016 2017 2018 2019 2020 2021

PropertyTaxAllocationActualandProjected




1.060‐AllOtherOperatingRevenues

FY2016‐Oth 0

11

Operatingrevenuesourcesnotincludedinotherlines;examplesincludetuition,fees,earningsoninvestments,rentals,anddonations.

Revenuefromallothersourcesisbasedonhistoricalpatternsandtrends.Actualrevenuesmaysignificantlyfluctuateinanygivenyeardependingoncircumstances.Oneareathathasalargeimpactonthislineistaxincrementfinancing(TIF)payments.TIFisaneconomicdevelopmentmechanismthatallowslocalgovernmentstofinancepublicinfrastructureimprovements.Infiscalyear2012,DeerParkexperiencedareductioninTIFmoneyfromSycamoreTownshipduetoadelinquentaccountfromoneofthefivetaxpayersbenefitingfromtheTIFprogram.Duringthe2013calendaryear,theDistrictstartedtoreceivepaymentsagainfromthatdelinquentaccount.Inthespringof2014,thedelinquencieswerepaidup,accountingforamuchlargerpaymentreceivedinfiscalyear2014.TheDistrictanticipatesthatallpayerswillcontinuetostaycurrentforfiscalyear2016andbeyond.

Otherdeclinesinthisareaincludeinterestincome(duetorelativelylowinterestrates)andtheeffectofdoubledupeRatereimbursements.eRatereimbursementsreceivedinfiscalyear2012werefortwoyears,whileeveryotheryearhasbeenforoneyear'sworthofreimbursement.eRatepaymentswereslatedtobelessenedbyUSACby20%eachyearforcertainservicesandcompletelyeliminatedforothers,thereforepaymentsinthisareaarereducedineachoftheforecastedyears.

6.0%

FY2016‐ OtherOperatingRevenueasa%ofTotal

Revenue

$784,659

$697,506

$915,539

$949,929

$961,522

$943,714

$933,214

$923,214

$913,214

$903,214

$0

$200,000

$400,000

$600,000

$800,000

$1,000,000

$1,200,000

2012 2013 2014 2015 2016 2017 2018 2019 2020 2021

AllOtherOperatingRevenueActualandProjected

‐2.68%

‐1.24%

‐50.0%

‐40.0%

‐30.0%

‐20.0%

‐10.0%

0.0%

10.0%

20.0%

30.0%

40.0%

2012 2013 2014 2015 2016 2017 2018 2019 2020 2021





2.070‐TotalOtherFinancingSources

FY2016‐Oth0.0%

12

Includesproceedsfromsaleofnotes,stateemergencyloansandadvancements,operatingtransfers‐in,andallotherfinancingsourceslikesaleandlossofassets,andrefundofprioryearexpenditures.

Infiscalyear2013,theHamiltonCountyAuditorreturned$116,302.58toDeerParkCommunityCitySchoolsfromtheAuditor'sRealEstateAssessmentFund.TheunspentbalanceinthisfundwasreturnedtolocalgovernmentsandschooldistrictsduetoincreasedefficienciesintheCountyAuditor'soffice.Infiscalyear2014,theDistrictreceivedarefundfromSERSduetoestimatesforcontributionsbeingslightlyhigherthanactualresults.Fiscalyear2015sawasmallerSERSrebate,rebatesfromBWC,andsomefundsstartedtocomeinfromsalesofpersonalproperty(obsoleteitemsthatgothroughtheHamiltonCountyAuctionwebsite).Asmallamountisincludedinfiscalyears2017‐2021foradditionalsales,butwedonotanticipateanyadditionalrebates.Advancesoutfromthepreviousfiscalyeararealsorecordedinthislineitemasadvancesin.Thisisusedforadvancingfundstothegrantaccountsinordertocloseoutthefiscalyear.

$10,528

$138,886

$217,371

$161,557

$99,243

$26,801

$3,000

$3,000

$0 $0

$0

$50,000

$100,000

$150,000

$200,000

$250,000

2012 2013 2014 2015 2016 2017 2018 2019 2020 2021

OtherOperatingFinancingSourcesActualandProjected

243.30% ‐65.45%

‐200.0%

0.0%

200.0%

400.0%

600.0%

800.0%

1000.0%

1200.0%

1400.0%

2012 2013 2014 2015 2016 2017 2018 2019 2020 2021


Year‐over‐YearExpenditureVariance Actual5‐YearAverage Projected5‐YearAverage

0.6%

FY2016‐ OtherFinancingSourcesasa%ofTotal

Revenue



ExpendituresOverview

Prev.5‐Year PROJECTED 5‐Year

Avg.Annual FiscalYear FiscalYear FiscalYear FiscalYear FiscalYear Avg.Annual

Change 2017 2018 2019 2020 2021 Change

Expenditures:3.010‐Salaries ‐2.04% 6.99% 4.37% 3.44% 3.73% 4.84% 4.67%3.020‐Benefits ‐0.39% 8.68% 6.86% 6.32% 6.54% 7.14% 7.11%3.030‐PurchasedServices 6.31% 3.83% 4.69% 5.79% 4.91% 5.61% 4.96%3.040‐Supplies&Materials 25.30% 6.51% ‐0.38% 0.98% ‐5.77% 7.16% 1.70%3.050‐CapitalOutlay 54.27% ‐25.42% 0.00% 0.00% 0.00% 0.00% ‐5.08%3.060‐Intergov n/a n/a n/a n/a n/a n/a n/a4.010‐4.060‐Debt n/a 0.24% 0.00% 0.00% 0.00% 0.00% 0.05%4.300‐OtherObjects ‐5.68% 62.86% 3.90% 7.96% 0.50% 4.34% 15.91%

4.500‐TotalExpenditures 0.28% 7.02% 4.60% 4.40% 3.96% 5.53% 5.10%5.040‐TotalOtherUses 50.50% 3.72% 5.68% 1.97% 1.97% 1.97% 3.06%

5.050‐TotalExp&OtherUses 1.10% 6.80% 4.67% 4.24% 3.83% 5.31% 4.97%

2016 2021Salaries 49.3% 48.6%Benefits 17.3% 19.2%PurchServ 19.6% 19.6%Supp&Mat 5.1% 4.4%CapitalOutlay 0.6% 0.3%Intergov&Deb 0.3% 0.3%OthrObjects 1.1% 1.6%OthrUses 6.6% 6.0%

13

Overthenextfiveyears,theDistrictisprojectinganincreaseintotalexpendituresby5.1%.Thisishigherthanhistoricaltrendsdueinlargeparttoprojectedincreasesinpurchasedservices.Pleaserefertopage16formoreinformation.

Salaries49.3% Benefits

17.3%

PurchServ19.6%

Supp&Mat5.1%

CapitalOutlay0.6%

Intergov&Debt0.3%

OthrObjects1.1%

OthrUses6.6%

2016

Salaries48.6% Benefits

19.2%

PurchServ19.6%

Supp&Mat4.4%

CapitalOutlay0.3%

Intergov&Debt0 3%

OthrObjects1.6%

OthrUses6.0%

2021



3.010‐PersonnelServices

FY2016‐Sala 0

14

Employeesalariesandwages,includingextendedtime,severancepay,supplementalcontracts,etc.

TheDistrictisinitsfinalyearofthenegotiatedagreeementwiththeDPEA.Fiscalyear2017projectionsarebasedoncurrentstaffinglevelsandapprovedsalaryschedules.Fiscalyears2018‐2021projectionsarebasedonincreasesthatareinlinewithrecenthistoricaltrendsinsurroundingdistricts.Salariesfortwoadditionalteachershavebeenaddedtothislineforfiscalyears2018‐2021toaccomodatealldaykindergarten.

Theincreaseinfiscalyear2016wasduetothemoveofthethirdgradeteachersfromHolmesElementarytoAmityElementary.Withthistransition,thethirdgradeteachers'salariescouldnolongerbepaidfromtheFederalSchool‐widePoolfundandwereaddedtogeneralfundsalaries.

49.3%

FY2016‐ Salariesasa%ofTotalExpenditures

$7,042,132

$6,588,786

$6,385,927

$6,600,731

$7,184,698

$7,686,935

$8,022,878

$8,298,878

$8,608,103

$9,024,907

$0

$1,000,000

$2,000,000

$3,000,000

$4,000,000

$5,000,000

$6,000,000

$7,000,000

$8,000,000

$9,000,000

$10,000,000

2012 2013 2014 2015 2016 2017 2018 2019 2020 2021

PersonnelServices ActualandProjected

‐2.04%

4.67%

‐15.0%

‐10.0%

‐5.0%

0.0%

5.0%

10.0%

2012 2013 2014 2015 2016 2017 2018 2019 2020 2021

Year‐over‐YearExpenditureTrend




3.020‐Employees'Benefits

FY2016‐Ben 0

15

Retirementforallemployees,WorkersCompensation,earlyretirementincentives,Medicare,unemployment,pickuponpickup,andallhealth‐relatedinsurances.

Asignificantportionofthislineitemispercentagebasedandthereforeautomaticallyincreaseswithsalaries.Retirement,medicare,worker'scompensation,andlifeinsurancearealltieddirectlytosalaries.Theremainderofthislineitemiscomprisedofmedicalanddentalinsurance.WiththeimplementationoftheAffordableCareAct,theDistricthasseenanincreaseinthenumberofemployeeselectingtoreceivethesebenefits.Throughvariousplanchanges,theGreaterCincinnatiInsuranceConsortium(GCIC)hasbeenabletoholdpremiumssteadysincefiscalyear2014.Itisunlikelythatpremiumswillremainattheircurrentlevelgoingforwardsofiscalyears2018‐2021includea10%increase(thisisthecapthatGCIChasagreednottoexceedinanyoneyear).

Thedeclinefromfiscalyear2012tofiscalyear2013wasaresultofbenefitspaidforFederalSchool‐widePoolBuildingProgramteachersatHolmesElementarymovingfromgeneralfundtoafederalfund.Pleasereadnote5.010"OperatingTransfers‐Out"foradditionalexplanationoftheprogram.

17.3%

FY2016‐ Benefitsasa%ofTotalExpenditures

$2,617,373

$2,313,153

$2,064,502

$2,289,255

$2,524,805

$2,744,060

$2,932,404

$3,117,696

$3,321,678

$3,559,002

$0

$500,000

$1,000,000

$1,500,000

$2,000,000

$2,500,000

$3,000,000

$3,500,000

$4,000,000

2012 2013 2014 2015 2016 2017 2018 2019 2020 2021

Employees'Benefits/InsuranceBenefitsActualandProjected

‐0.39%

7.11%

‐15.0%

‐10.0%

‐5.0%

0.0%

5.0%

10.0%

15.0%

2012 2013 2014 2015 2016 2017 2018 2019 2020 2021





3.030‐PurchasedServices

FY2016‐Pur 0

16

Amountspaidforpersonalservicesrenderedbypersonnelwhoarenotonthepayrolloftheschooldistrict,andotherserviceswhichtheschooldistrictmaypurchase.

Includedinthislineisa20%increaseinfleetandpropertyinsurancepremiums.Fiscalyear2014sawanincreaseof33%,whichwasuncharacteristicallyhighduetoafewhighdollarclaimstheDistricthashadoverthelastfewyears.Openenrollmentisanothercostprojectedtohaveadoubledigitincreasebasedonhistoricaldata.Preschoolserviceshaveincreasedsignificantlyduetoenrollmentnumbers.Lastly,itisimportanttonotethatspecialeducationcostsarealargepartofthislineitemandcanfluctuatedependingonastudent'shandicap,requiredservicecosts,andstudentmove‐ins.DeerParkworkshardtoserveeverystudentwithanappropriatelevelofservices.Unfortunately,costsvarywildlyfromstudenttostudent,whichmakesthispartofthecategoryparticularlydifficulttoforecast.Thiscategoryalsoincludes:maintenancecontracts,leasepurchasepaymentsforcopiers,district‐widetelephones,technologyoperations,professionaldevelopment,meeting/travelexpenses,legalservices,consultants,technicians,postage,printing,advertising,utilities.Expendituresinthislinearebasedonhistoricaltrends.

TheDistrictmovedbudgetallocationsforsubstituteteacherseffectiveinfiscalyear2013andsubstituteclassifiedemployeesinfiscalyear2015from3.010PersonnelServicestocategory3.030PurchasedServices,sincethesearenowservedthroughcontractedservices.Infiscalyear2018,budgetallocationshavebeenadjustedtoincludetwoadditionaleducationalaidesduetotheimplementationofalldaykindergarten.

19.6%

FY2016‐ PurchasedServicesasa%ofTotal

Expenditures

$2,297,699

$2,753,124

$2,847,471

$2,857,558

$2,858,221

$2,967,622

$3,106,689

$3,286,642

$3,447,870

$3,641,241

$0

$500,000

$1,000,000

$1,500,000

$2,000,000

$2,500,000

$3,000,000

$3,500,000

$4,000,000

2012 2013 2014 2015 2016 2017 2018 2019 2020 2021

PurchasedServicesActualandProjected

6.31%4.96%

0.0%

5.0%

10.0%

15.0%

20.0%

25.0%

2012 2013 2014 2015 2016 2017 2018 2019 2020 2021





3.040‐Supplies&Materials

FY2016‐Sup 0

17

Expendituresforgeneralsupplies,instructionalmaterialsincludingtextbooksandmediamaterial,busfuelandtires,andallothermaintenancesupplies.

Asignificantportionofthislineitemconsistsoftextbookadoptions.Thelanguageartsserieswasonlypartiallypaidinfiscalyear2015,whichreducedsuppliesandmaterialsinthatyear.Theremainderofthelanguageartsserieswaspurchasedinfiscalyear2016alongwiththenewscienceseries.TheDistrictprojects$220,000infiscalyear2017(socialstudies),$175,000infiscalyear2018(electives),$200,000infiscalyear2019(math),and$150,000infiscalyear2020(English),and$200,000infiscalyear2021(science)fortextbookadoptions.Forecastedfiguresfortheseexpendituresarebasedonhistoricaltrends.

5.1%

FY2016‐ Supplies&Materialsasa%ofTotal

Expenditures

$321,735

$310,109

$695,582

$464,754

$748,062

$796,738

$793,728

$801,536

$755,315

$809,375

$0

$100,000

$200,000

$300,000

$400,000

$500,000

$600,000

$700,000

$800,000

$900,000

2012 2013 2014 2015 2016 2017 2018 2019 2020 2021

Supplies&MaterialsActualandProjected

25.30%1.70%

‐60.0%

‐40.0%

‐20.0%

0.0%

20.0%

40.0%

60.0%

80.0%

100.0%

120.0%

140.0%

2012 2013 2014 2015 2016 2017 2018 2019 2020 2021





3.050‐CapitalOutlay

FY2016‐Cap 0

18

Thislineincludesexpendituresforitemshavingatleastafive‐yearlifeexpectancy,suchasland,buildings,improvementsofgrounds,equipment,computers/technology,furnishings,andbuses.

Amajorityofthislineitemisrelatedtotechnologyexpenses.TheDistricthas3.3millsofpermanentimprovementfundstousetowardscapitalimprovementprojectssothislineontheforecastisminimal.

0.6%

FY2016‐ CapitalOutlayasa%ofTotalExpenditures

$39,576

$15,154

$47,618

$70,209

$87,005

$64,891

$64,891

$64,891

$64,891

$64,891

$0

$10,000

$20,000

$30,000

$40,000

$50,000

$60,000

$70,000

$80,000

$90,000

$100,000

2012 2013 2014 2015 2016 2017 2018 2019 2020 2021

CapitalOutlayActualandProjected

54.27% ‐5.08%

‐100.0%

‐50.0%

0.0%

50.0%

100.0%

150.0%

200.0%

250.0%

2012 2013 2014 2015 2016 2017 2018 2019 2020 2021





3.060‐4.060‐Intergovernmental&Debt

FY2016‐Inte 0

19

Theselinesaccountforpassthroughpayments,aswellasmoniesreceivedbyadistrictonbehalfofanothergovernmentalentity,plusprincipalandinterestpaymentsforgeneralfundborrowing.

DeerParkCommunityCitySchools'loanpaymentsfortheHB264EnergyConservationprojectcomeoutofthislineitem.Thesepaymentsarescheduledfortwelveyearsstartinginfiscalyear2014.Rememberthattheseloanpaymentsareprojectedtobeoffsetbytheenergysavingsfromtheprojectitself.Aftertherepaymentperiodthesavingswillgodirectlytowardsoffsettingotherdistrictcosts.Thecostrelatedtointerestontheloansislistedinline4.060.

0.3%

FY2016‐ Intergov&Debtasa%ofTotalExpenditures

$0 $0 $49,889

$49,878

$49,881

$50,000

$50,000

$50,000

$50,000

$50,000

$0

$10,000

$20,000

$30,000

$40,000

$50,000

$60,000

2012 2013 2014 2015 2016 2017 2018 2019 2020 2021

Intergovernmental&DebtServiceActualandProjected

0.00%

0.05%

‐0.1%

0.0%

0.1%

0.1%

0.2%

0.2%

0.3%

0.3%

2012 2013 2014 2015 2016 2017 2018 2019 2020 2021





4.300‐OtherObjects

FY2016‐Oth 0

20

Primarycomponentsforthisexpenditurelinearemembershipduesandfees,ESCcontractdeductions,CountyAuditor/Treasurerfees,auditexpenses,andelectionexpenses.

EstimatesarebasedonhistoricaltrendsandincludeaslightincreaseinPropertyTaxCollectionFees.Thischangeisbasedontheincreasedcollectionsfromtherecentlypassedlevy.Infiscalyear2016,onlyhalfoftheyear'sfeeswerechargedtothisline.Theotherhalfarereflectedassimplyareductionontherealestatetaxlineoftheforecast.

1.1%

FY2016‐ OtherObjectsasa%ofTotalExpenditures

$221,902

$230,931

$215,477

$224,632

$154,680

$251,906

$261,743

$282,576

$283,982

$296,316

$0

$50,000

$100,000

$150,000

$200,000

$250,000

$300,000

$350,000

2012 2013 2014 2015 2016 2017 2018 2019 2020 2021

OtherObjectsActualandProjected

‐5.68%

15.91%

‐40.0%

‐20.0%

0.0%

20.0%

40.0%

60.0%

80.0%

2012 2013 2014 2015 2016 2017 2018 2019 2020 2021





5.040‐TotalOtherFinancingUses

FY2016‐Oth 0

21

Operatingtransfers‐out,advancesouttootherfunds,andallothergeneralfundfinancinguses.

Thiscategoryrepresentstransactionsthatwithdrawmoneyfromonefund(commonlygeneralfund)andpermanentlyplaceitintoanotherforfundingpurposes.ProjectionshereweretypicallythoseofanannualsubsidytotheDistrict'sathleticprogramoperationalbudget,butwasjoinedinfiscalyear2012bytheSchool‐widePooltransfer.

Effectiveinfiscalyear2012,theDistrictwasgrantedpermissiontoadministera"School‐widePoolBuildingFund."TheSchool‐widePoolBuildingProgramallowsforthepoolingoffederal,state,andlocalfundstobeusedtoupgradetheoverallinstructionalprogramofaschoolbuildingwhereatleast40%ofchildrenarefromlow‐incomefamilies.Consequently,salariesandrelatedbenefitsofalldesignatedteachersatHolmesElementaryhavetobepaidoutofthisfund.Toaccomplishthis,generalfundmoneyneededtosubsidizethesetwoprogramshasbeentransferredtothefederalspecialrevenuefund.Forfiscalyear2016andbeyond,transferintoSchool‐widePoolarebasedonestimatedpayrollandbenefitsoftheregularteachingstaffatHolmesElementary.Thereisadecreaseinthislineforfiscalyear2016duetothethirdgrademovefromHolmesElementarytoAmityElementary.Thethirdgradeteachers'salariesandbenefitsarenowreflectedinlines3.010and3.020.

AlsoincludedinthiscategoryarereimbursementsreceivedthroughtheOhioMedicaidSchoolProgram(OMSP).ItisnotuntilOMSPrequestsactualcostsfromtheDistrictthatactualcostratesarecomputedtoarriveatthefigurethatOMSPmayoweorrequireadistricttopayback.

6.6%

FY2016‐ OtherFinancingUsesasa%ofTotal

Expenditures

$1,055,824

$1,529,849

$1,107,135

$1,369,546

$956,721

$992,282

$1,048,600

$1,069,217

$1,090,266

$1,111,755

$0

$200,000

$400,000

$600,000

$800,000

$1,000,000

$1,200,000

$1,400,000

$1,600,000

$1,800,000

2012 2013 2014 2015 2016 2017 2018 2019 2020 2021

OtherFinancingUsesActualandProjected

50.50% 3.06%

‐50.0%

0.0%

50.0%

100.0%

150.0%

200.0%

250.0%

300.0%

2012 2013 2014 2015 2016 2017 2018 2019 2020 2021





ForecastCompareComparisonofPreviousForecastAmountstoCurrentForecastedNumbersF.Y.2017

Column A Column B Column C Column D

Previous Current Dollar PercentForecast Forecast Difference Difference

Amounts For Amounts For Between Between

F.Y. 2017 F.Y. 2017 Previous PreviousPrepared on: Prepared on: and and

Revenue: 05/20/2016 10/14/2016 Current Current

1 Real Estate & Property Allocation $10,046,163 $9,958,561 ‐$87,602 ‐0.9%2 Public Utility Personal Property $938,791 $993,566 $54,775 5.8%3 Income Tax $0 $0 $0 n/a4 State Foundation Restricted & Unrestricted $3,638,995 $3,750,451 $111,456 3.1%5 Other Revenue $945,031 $943,714 ‐$1,317 ‐0.1%6 Other Non Operating Revenue $3,000 $26,801 $23,801 793.4%7 Total Revenue $15,571,980 $15,673,093 $101,113 0.6%

Expenditures:

8 Salaries $7,554,305 $7,686,935 $132,630 1.8%

9 Fringe Benefits $2,680,809 $2,744,060 $63,251 2.4%

10 Purchased Services $3,351,093 $2,967,622 ‐$383,471 ‐11.4%

11 Supplies, Debt, Capital Outlay & Other $1,135,456 $1,163,535 $28,079 2.5%

12 Other Non Operating Expenditures $1,128,931 $992,282 ‐$136,649 ‐12.1%

13 Total Expenditures $15,850,594 $15,554,434 ‐$296,160 ‐1.9%

14 Revenue Over/(Under) Expenditures ‐$278,614 $118,659 $397,273 2.5%*

15 Ending Cash Balance $9,142,515 $9,835,532 $693,017 4.4%*

*Percentageexpressedintermsoftotalexpenditures

22

ComparedtotheforecastcompletedinMay,theDistrictisprojectinganincreaseinrevenueandadecreaseinexpenditures.ThiscombinationofincreasedrevenueanddecreasedexpendituresmeansthattheDistrictanticipatesagreatercashbalanceandthepushestheneedforthenextoperatinglevyoutfurtherintothefuture.



Actual FORECASTEDFiscalYear: 2016 2017 2018 2019 2020 2021

Revenue:1.010‐GeneralPropertyTax(RealEstate) 9,101,584 8,818,993 8,958,573 8,991,219 8,993,874 9,022,3331.020‐PublicUtilityPersonalProperty 948,193 993,566 1,045,972 1,100,474 1,138,883 1,184,6071.030‐IncomeTax ‐ ‐ ‐ ‐ ‐ ‐1.035‐UnrestrictedGrants‐in‐Aid 3,590,461 3,618,292 3,758,208 3,938,617 4,133,817 4,331,6141.040‐RestrictedGrants‐in‐Aid 110,984 132,159 136,056 137,021 136,378 137,1011.045‐RestrictedFederalGrants‐SFSF ‐ ‐ ‐ ‐ ‐ ‐1.050‐PropertyTaxAllocation 1,145,605 1,139,568 1,142,928 1,145,139 1,144,870 1,147,4521.060‐AllOtherOperatingRevenues 961,522 943,714 933,214 923,214 913,214 903,214

1.070‐TotalRevenue 15,858,350 15,646,293 15,974,951 16,235,684 16,461,036 16,726,320OtherFinancingSources:2.010‐ProceedsfromSaleofNotes ‐ ‐ ‐ ‐ ‐ ‐2.020‐StateEmergencyLoansandAdv ‐ ‐ ‐ ‐ ‐ ‐2.040‐OperatingTransfers‐In ‐ ‐ ‐ ‐ ‐ ‐2.050‐Advances‐In 81,346 ‐ ‐ ‐ ‐ ‐2.060‐AllOtherFinancingSources 17,897 26,801 3,000 3,000 ‐ ‐2.070‐TotalOtherFinancingSources 99,243 26,801 3,000 3,000 ‐ ‐

2.080‐TotalRev&OtherSources 15,957,593 15,673,093 15,977,951 16,238,684 16,461,036 16,726,320Expenditures:

3.010‐PersonnelServices 7,184,698 7,686,935 8,022,878 8,298,878 8,608,103 9,024,9073.020‐EmployeeBenefits 2,524,805 2,744,060 2,932,404 3,117,696 3,321,678 3,559,0023.030‐PurchasedServices 2,858,221 2,967,622 3,106,689 3,286,642 3,447,870 3,641,241

3.040‐SuppliesandMaterials 748,062 796,738 793,728 801,536 755,315 809,3753.050‐CapitalOutlay 87,005 64,891 64,891 64,891 64,891 64,891

3.060‐Intergovernmental ‐ ‐ ‐ ‐ ‐ ‐

DebtService:

4.010‐Principal‐AllYears 39,349 ‐ ‐ ‐ ‐ ‐

4.020‐Principal‐Notes ‐ ‐ ‐ ‐ ‐ ‐4.030‐Principal‐StateLoans ‐ ‐ ‐ ‐ ‐ ‐

4.040‐Principal‐StateAdvances ‐ ‐ ‐ ‐ ‐ ‐4.050‐Principal‐HB264Loan ‐ 40,400 41,400 42,400 43,400 44,4004.055‐Principal‐Other ‐ ‐ ‐ ‐ ‐ ‐4.060‐InterestandFiscalCharges 10,532 9,600 8,600 7,600 6,600 5,6004.300‐OtherObjects 154,680 251,906 261,743 282,576 283,982 296,316

4.500‐TotalExpenditures 13,607,352 14,562,152 15,232,333 15,902,218 16,531,840 17,445,733OtherFinancingUses5.010‐OperatingTransfers‐Out 944,024 978,406 998,600 1,019,217 1,040,266 1,061,7555.020‐Advances‐Out ‐ ‐ ‐ ‐ ‐ ‐5.030‐AllOtherFinancingUses 12,697 13,876 50,000 50,000 50,000 50,0005.040‐TotalOtherFinancingUses 956,721 992,282 1,048,600 1,069,217 1,090,266 1,111,755

5.050‐TotalExpandOtherFinancingUses 14,564,073 15,554,434 16,280,933 16,971,436 17,622,105 18,557,4876.010‐ExcessofRevOver/(Under)Exp 1,393,520 118,659 (302,983) (732,752) (1,161,070) (1,831,167)7.010‐CashBalanceJuly1(NoLevies) 8,323,353 9,716,873 9,835,532 9,532,549 8,799,797 7,638,7277.020‐CashBalanceJune30(NoLevies) 9,716,873 9,835,532 9,532,549 8,799,797 7,638,727 5,807,5608.010‐EstimatedEncumbrancesJune30 238,895 238,895 238,895 238,895 ‐ ‐9.080‐ReservationsSubtotal ‐ ‐ ‐ ‐ ‐ ‐

10.010‐FundBalJune30forCertofApp 9,477,978 9,596,637 9,293,654 8,560,902 7,638,727 5,807,560RevfromReplacement/RenewalLevies11.010&11.020‐Income&PropertyTax‐Renewal ‐ ‐ ‐ ‐ ‐11.030‐CumulativeBalanceofLevies ‐ ‐ ‐ ‐ ‐ ‐

12.010‐FundBalJune30forCertofObligations 9,477,978 9,596,637 9,293,654 8,560,902 7,638,727 5,807,560RevenuefromNewLevies

13.010&13.020‐Income&PropertyTax‐New ‐ ‐ ‐ ‐ ‐13.030‐CumulativeBalanceofNewLevies ‐ ‐ ‐ ‐ ‐ ‐

15.010‐UnreservedFundBalanceJune30 9,477,978 9,596,637 9,293,654 8,560,902 7,638,727 5,807,560

23


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