BEXLEY CITY SCHOOL DISTRICT

FINANCIAL PROJECTION

5705.391 O.R.C AS ENACTED BY SUB. H.B. 412

FOR FISCAL YEARS ENDING JUNE 30, 2014 THROUGH 2021

OCTOBER 2016 First Adoption

MAY 2017 Revised

Questions - see or call Kyle F. Smith, Treasurer/CFO614-231-7611 (5210)

To see any Ohio school district's five year plan go to the following web site: www.ode.state.oh.us/

go to top of page - "Topics" - choose "Finance"In the Topics section choose "Five Year Forecasts

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SECTION ONE

GENERAL GUIDELINES

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Bexley City School District

Financial Projection 5705.391 O.R.C. as enacted by Sub. H.B. 412

For the Fiscal Years Ending June 30, 2014 through 2021

Introduction The financial projections are required by section 5705.391, R.C. enacted in Sub. H.B. No. 412. The projections are intended to provide a method for the State Department of Education and the State Auditor’s Office to identify school districts that will have financial difficulty. The format of the projection has also been designed as a guide for determining the ability to certify obligations under the requirement of section 5705.412, R.C. The projection package consists of three spreadsheets (pages 6-7). The submission of spreadsheet A on page 6 to the Department of Education will satisfy the requirements of H.B. 412. Spreadsheet B (page 7) is intended to assist in the recognition of amounts that may require additional analysis and the identification of trends. Spreadsheet B presents the average percentage change in revenue and expenditure accounts over the three-year period covered by the actual data and calculates the percentage change in the projected amounts from year to year. The Auditor of State and the Department of Education have established the format of these spreadsheets. The five-year forecast is required to be completed twice a year (October & May) and submitted to Ohio Department of Education. Assumptions contained in this forecast are based on information that is deemed the best available as of the time of preparation. Actual amounts will differ and any significant difference will be explained in the next forecast. General Guidelines Time Period – Amounts are for a fiscal year of July 1 through June 30. The projection is to include three years of historical data and five years of projected data. The first year of projected data will be the year in which the projection is submitted. Funds Included - The projection is to include the following funds: general fund. Entering Amounts - All amounts are rounded to the nearest dollar. Debt Payments - Debt payments that were paid from money that otherwise would have gone to the general fund. This section does not affect Bexley at this time.

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Bexley City School District, Financial Projection, 5705.391 O.R.C. as enacted by H.B. 412 For the Fiscal Years Ending June 30, 2014 through 2021 Property Tax Allocation - Money received from the homestead, rollback provisions of State statute and for reimbursement of the $10,000 personal property tax exemption are to be presented separately from the real and personal property tax amounts. See line number 1.050 of spreadsheet A. New Levies - Money from a new levy may never be considered for determining the ability to certify an obligation under the requirements of section 5705.412, R.C. unless the electorate has already passed the levy. The Board made a pledge to the community with the passage of the 0.75% School District Income Tax in November 2004, that the District would not ask for additional funds for a five-year period and hopefully for a six-year period or longer. The Board did not ask for a levy until November 2010, which was six years. A 6.5 mill levy was approved in November 2010. The promise to the community was to stay off the ballot for 3 years. 2017 will be 7 years. Current projects show a positive balance for the five year forecast. Income Tax Levies - The Auditor of State will treat income tax levies in the same manner as property tax levies. The district’s 0.75% school income tax was required to be paid by residents of Bexley on all income beginning in January 2005. The district received the first payment in April 2005. The collections are received quarterly from the Ohio Department of Taxation. Assumptions - Written assumptions that explain the reasoning behind the projected amounts must be included in the projection for every major revenue and expenditure category. The assumptions that accompany the projections are related specifically to Bexley. 412 Certification of Contracts per Ohio Revised Code Section 5705.412 - Legislation making changes in the 412 certification requirements have passed through the Legislature and was signed by the Governor in early 2000. The language specifies, among other changes, which contracts will require certification, was amended into SB77 and was effective June 30, 2000. The changes include the following items: (1) The requirement for certification will apply to contracts and salary schedules that are the lesser of $500,000 or 1% of the general fund and (2) the certificate must cover the term of the contract or salary schedule. Certification of Adequate Revenues (Rule 3301-92-05) The Rules prescribe the events for which a district must certify availability of revenue pursuant to Revised Code Section 5705.412, which include, among others:

1. Negotiated agreements; 2. Appropriations;

3. Contracts for benefits; such as health insurance; 4. Increased salary or wage schedules; 5. Construction contracts. For purposes of certifying revenue relating to appropriation measures, the Rules provide that the renewal or replacement of existing property tax levies, any new property tax or income tax levies may not be considered.

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SECTION TWO

TWO SPREADSHEETS

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BEXLEY CITY SCHOOL DISTRICT, FRANKLIN COUNTY SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES Spreadsheet A FOR THE FISCAL YEARS ENDED JUNE 30, 2014, 2015 AND 2016 ACTUAL; FORECAST FOR FISCAL YEARS ENDING JUNE 30,2017 THROUGH 2021 May-17

Average Fiscal Year Fiscal Year Fiscal Year Fiscal Year Fiscal Year LINE Fiscal Year Fiscal Year Fiscal Year Annual 2017 2018 2019 2020 2021

NUMBER Revenues 2014 Actual 2015 Actual 2016 Actual Change Forecast Forecast Forecast Forecast Forecast

1.010 General Property Tax (Real Estate) $19,863,754 $22,832,993 $17,684,647 -3.80% $20,689,927 $20,675,000 $20,700,000 $20,710,000 $20,750,0001.020 Tangible Personal Property Taxes 5,328 176 0 -98.35% 0 0 0 0 01.030 School District Income Taxes 7,036,098 6,411,559 7,216,467 1.84% 8,123,073 7,200,000 7,200,000 7,250,000 7,300,0001.035 Unrestricted Grants-In -Aid (Foundation/Casino) 4,160,642 4,127,132 4,150,233 -0.12% 4,096,500 4,158,500 4,158,500 4,158,500 4,158,5001.040 Restricted Grants in Aid (Bus Reimb.) na 16,100 16,100 16,100 16,100 16,1001.045 Restricted Federal Grant SFSF 532 and 504 0 0 0 na 0 0 0 0 01.050 Property Tax Allocation (Rollback & Homestead) 2,788,592 2,809,528 2,811,744 0.41% 2,811,040 2,812,000 2,815,000 2,815,000 2,817,0001.060 All Other Income ( Interest/tuition other) 310,221 386,490 468,111 22.85% 515,000 450,000 450,000 420,000 420,0001.070 Total Revenues 34,164,635 36,567,878 32,331,202 -2.28% 36,251,640 35,311,600 35,339,600 35,369,600 35,461,600

2.010 Other Financing Sources2.040 Transfers-In 0 0 0 -- 0 0 0 0 02.050 Advances-In 38,456 58,000 31,000 2.13% 65,250 70,000 60,000 60,000 60,0002.060 Other 64,839 160,870 31,792 33.93% 25,400 25,000 25,000 25,000 25,0002.070 Total Other Financing Sources 103,295 218,870 62,792 20.29% 90,650 95,000 85,000 85,000 85,0002.080 Total Revenues $34,267,930 $36,786,748 $32,393,994 -2.30% $36,342,290 $35,406,600 $35,424,600 $35,454,600 $35,546,600

Expenditures3.010 Personnel Services 18,083,575 18,201,256 18,430,728 0.96% 18,399,000 19,450,000 19,995,000 20,815,000 21,650,0003.020 Employees' Retirement/Insurance Benefits 6,856,929 7,239,887 7,667,826 5.75% 8,030,000 8,400,000 8,875,000 9,500,000 9,900,0003.030 Purchased Services 4,423,474 4,893,505 5,018,271 6.59% 5,980,000 6,300,000 6,500,000 6,630,000 6,650,0003.040 Supplies and Materials 1,201,145 1,279,207 1,324,735 5.03% 1,440,000 1,500,000 1,545,000 1,580,000 1,620,0003.050 Capital Outlay 778,747 638,654 1,198,655 34.85% 715,000 1,240,000 1,220,000 800,000 860,0004.300 Other Objects 526,445 524,831 562,512 3.44% 581,000 590,000 617,000 630,000 640,0004.500 Total Expenditures 31,870,315 32,777,340 34,202,727 3.60% 35,145,000 37,480,000 38,752,000 39,955,000 41,320,000

Other Financing Uses5.010 Operating Transfers-Out 358,238 457,321 299,700 -3.40% 270,000 280,000 280,000 280,000 315,0005.020 Advances-Out 58,000 31,000 65,250 31.97% 60,000 60,000 60,000 60,000 70,0005.030 Other Financing Uses 0 0 0 na 0 0 0 0 05.040 Total Other Financing Uses 416,238 488,321 364,950 -3.97% 330,000 340,000 340,000 340,000 385,0005.050 Total Expendituresand Other Financing Uses $32,286,553 $33,265,661 $34,567,677 3.47% $35,475,000 $37,820,000 $39,092,000 $40,295,000 $41,705,000

6.010 Revenue vrs. Expenditures 1,981,377 3,521,087 -2,173,683 -42.01% 867,290 -2,413,400 -3,667,400 -4,840,400 -6,158,400

7.010 Beginning Cash Balance July 1 21,029,924 23,011,301 26,532,388 12.36% 24,358,704 25,225,994 22,812,594 19,145,194 14,304,794

7.020 Ending Cash Balance June 30 23,011,301 26,532,388 24,358,704 3.55% 25,225,994 22,812,594 19,145,194 14,304,794 8,146,394

8.010 Estimated Encumbrances June 30 989,839 1,284,476 1,101,015 7.74% 1,350,000 1,200,000 1,200,000 1,200,000 1,200,000

9.060 June Tax Advances- Reserved for next FY 1,694,230 4,451,500 1,700,000 50.47% 1,700,000 1,700,000 1,700,000 1,700,000 1,700,000

9.080 Total Reservations 1,694,230 4,451,500 1,700,000 1,700,000 1,700,000 1,700,000 1,700,000 1,700,00010.010 Fund Balance June 30 for Certification of Approp 20,327,232 20,796,412 21,557,689 22,175,994 19,912,594 16,245,194 11,404,794 5,246,39412.010 Fund Bal June 30 for Cert. of Contracts, Salary 20,327,232 20,796,412 21,557,689 22,175,994 19,912,594 16,245,194 11,404,794 5,246,394

Salary Schedule, Other Obligations15.010 End of Year Balance June 30 for Certification $20,327,232 $20,796,412 $21,557,689 2.98% $22,175,994 $19,912,594 $16,245,194 $11,404,794 $5,246,394

See accompanying summary of significant forecast assumptions and accounting policies 6

May-17 Average Fiscal Year Fiscal Year Forecast Fiscal Year Fiscal Year Fiscal Year Fiscal YearAnnual 2016 2017 % 2018 % 2019 % 2020 % 2021 % Change Actual Forecast Change Forecast Change Forecast Change Forecast Change Forecast Change

RevenuesReal Estate Property Taxes -3.80% 17,684,647 20,689,927 16.99% 20,675,000 -0.07% 20,700,000 0.12% 20,710,000 0.05% 20,750,000 0.19%

Tangible Personal Property TaxesSchool District Income Taxes 1.84% 7,216,467 8,123,073 12.56% 7,200,000 -11.36% 7,200,000 0.00% 7,250,000 0.69% 7,300,000 0.69%

State Foundation Program -0.12% 4,150,233 4,112,600 -0.91% 4,174,600 1.51% 4,174,600 0.00% 4,174,600 0.00% 4,174,600 0.00%Rollback and Homestead /public utility payments 0.41% 2,811,744 2,811,040 -0.03% 2,812,000 0.03% 2,815,000 0.11% 2,815,000 0.00% 2,817,000 0.07%

Interest Income, Other Local Revenue 22.85% 468,111 515,000 10.02% 450,000 -12.62% 450,000 0.00% 420,000 -6.67% 420,000 0.00%

Total Operating Revenues -2.28% 32,331,202 36,251,640 12.13% 35,311,600 -2.59% 35,339,600 0.08% 35,369,600 0.08% 35,461,600 0.26%

Other Financing SourcesOperating Transfers-In 0.00% 0 0 0.00% 0 0.00% 0 0.00% 0 0.00% 0 0.00%

Advances-In 2.13% 31,000 65,250 0.00% 70,000 0.00% 70,000 0.00% 60,000 0.00% 60,000 0.00%All Other Financing Sources 33.93% 31,792 25,400 -20.11% 25,000 -1.57% 25,000 0.00% 25,000 0.00% 25,000 0.00%

Total Other Financing Sources 20.29% 62,792 90,650 44.37% 95,000 4.80% 95,000 0.00% 85,000 -10.53% 85,000 0.00%Total Revenues and Other Financing Sources -2.30% 32,393,994 36,342,290 12.19% 35,406,600 -2.57% 35,434,600 0.08% 35,454,600 0.06% 35,546,600 0.26%

ExpendituresSalaries 0.96% 18,430,728 18,399,000 -0.17% 19,450,000 5.71% 19,995,000 2.80% 20,815,000 4.10% 21,650,000 4.01%

Retirement/Insurance Benefits 5.75% 7,667,826 8,030,000 4.72% 8,400,000 4.61% 8,875,000 5.65% 9,500,000 7.04% 9,900,000 4.21%Purchased Services 6.59% 5,018,271 5,980,000 19.16% 6,300,000 5.35% 6,500,000 3.17% 6,630,000 2.00% 6,650,000 0.30%

Supplies and Materials 5.03% 1,324,735 1,440,000 8.70% 1,500,000 4.17% 1,545,000 3.00% 1,580,000 2.27% 1,620,000 2.53%Capital Outlay 34.85% 1,198,655 715,000 -40.35% 1,240,000 73.43% 1,220,000 -1.61% 800,000 -34.43% 860,000 7.50%Other Objects 3.44% 562,512 581,000 3.29% 590,000 1.55% 617,000 4.58% 630,000 2.11% 640,000 1.59%

Total Expenditures 3.60% 34,202,727 35,145,000 2.75% 37,480,000 6.64% 38,752,000 3.39% 39,955,000 3.10% 41,320,000 3.42%

Other Financing UsesOperating Transfers-Out -3.40% 299,700 270,000 -9.91% 280,000 3.70% 280,000 0.00% 280,000 0.00% 315,000 12.50%

Advances-Out 31.97% 65,250 60,000 -8.05% 60,000 0.00% 60,000 0.00% 60,000 0.00% 70,000 16.67%All Other Financing Uses

Total Other Financing Uses -3.97% 364,950 330,000 -9.58% 340,000 3.03% 340,000 0.00% 340,000 0.00% 385,000 13.24%Total Expenditures and Other Financing Uses 3.47% 34,567,677 35,475,000 2.62% 37,820,000 6.61% 39,092,000 3.36% 40,295,000 3.08% 41,705,000 3.50%Excess of Revenues over/under Expenditures -42.01% -2,173,683 857,290 -139.44% -2,413,400 -381.52% -3,657,400 51.55% -4,840,400 32.35% -6,158,400 27.23%

Beginning Cash Balance July 1 12.36% 26,532,388 24,358,704 -8.19% 25,215,994 3.52% 22,802,594 -9.57% 19,145,194 -16.04% 14,304,794 -25.28%

Ending Cash Balance June 30 3.55% 24,358,704 25,215,994 3.52% 22,802,594 -9.57% 19,145,194 -16.04% 14,304,794 -25.28% 8,146,394 -43.05%

Estimated Encumbrances June 30 7.74% 1,101,015 1,350,000 22.61% 1,200,000 -11.11% 1,200,000 0.00% 1,200,000 0.00% 1,200,000 0.00%

June Tax Advances- Reserved for next FY 50.47% 1,700,000 1,700,000 0.00% 1,700,000 0.00% 1,700,000 0.00% 1,700,000 0.00% 1,700,000 0.00%

Unreserved Fund Balance June 30 2.98% 21,557,689 22,165,994 2.82% 19,902,594 -10.21% 16,245,194 -18.38% 11,404,794 -29.80% 5,246,394 -54.00%

Includes: general fund, emergency levy fund, DPIA fund, textbook fund and any portion of debt service fund related to general fund debt

Spreadsheet BBEXLEY CITY SCHOOL DISTRICT, FRANKLIN COUNTYSCHEDULE OF PERCENTAGE CHANGES

FOR THE FISCAL YEARS ENDED JUNE 30, 2016 ACTUAL; FORECAST FOR FISCAL YEARS ENDING JUNE 30, 2017 THROUGH 2021

See accompanying summary of significant forecast assumptions and accounting policies

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SECTION THREE

ASSUMPTIONS FOR PROJECTIONS

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Bexley City School District, Financial Projection, 5705.391 O.R.C. as enacted by H.B. 412 For the Fiscal Years Ending June 30, 2014 through 2021 Fund Balance: The five-year forecast (Spreadsheet A – page 6) has two different “End of the Year Balance Amounts”. Line 7.02, “Ending Cash Balance June 30” reflects the cash in the bank as of June 30 for the general fund. Line 15.010, “End of the Year Balance June 30 For Certification” reflects the available cash as of June 30. The difference in the two balance amounts come from two adjustments. First, the amount encumbered (a purchase order issued) in current fiscal year but not paid until the next fiscal year is removed from the actual cash balance. The other adjustment is the real estate tax advance received in late June of each year is being removed from the “Ending Cash Balance June 30”. State law states that the tax advance amounts received in June shall be reserved for the next year unless the Board approves spending the funds. Such a resolution would be a sign of fiscal difficulties. The term “Balance for Certification” reflects the state law that requires the board president, superintendent, and treasurer to sign a fiscal certificate that long-term contracts that extend over a fiscal year have funds available in all years covered by the contract to pay the contract (see page 4). The Balance for Certification is the available cash balance to meet the state law for available funds. An Ohio school district cannot end the fiscal year with a negative balance. During a normal levy cycle, the District builds a positive fund balance during the early years of the levy cycle and then spends the balance down during the later stages of the levy cycle (see Lines 6.01 and 15.010 of spreadsheet A). The district passed an income tax levy in 2004 that allowed the district to be off the ballot for six years instead of the normal three-year levy cycle. The District built a larger balance than normal because of the longer levy cycle. The district passed a 6.5 mill operating levy in November 2010. The district promised to remain off the ballot for three years. After the November 2010 levy several items have occurred that have allowed the District to remain off the ballot. The teachers and classified staff agreed to a pay increase that was lower than forecasted in 2010 and 2015. The State of Ohio proposed cuts to the “guarantee” for Bexley have not happened as of FY17. The final item is the school income tax recovered from $4.8 million to an average of $7.2 million over the past four years with the improved economy. Based on this forecast the district will be off the ballot for at least 9 years. The projected end of year balance will decrease during the next few years.

Revenue Assumptions

1.010 Real Estate Property Taxes - Property taxes are paid on a calendar year basis. The settlement period of February and August for real estate taxes does not allow for an even flow of tax collection for the school district's fiscal year of July to June. Normally the district receives 52-55% of the real estate taxes in the February settlement, and 45-48% in the August settlement. See spreadsheet on page 22 for a breakdown of estimated tax collections converted from the calendar year to a fiscal year. The revenue received as tax advances in June for the following August settlement (line 9.060 Spreadsheet A) have been about $1.7 million recently. The FY15 advance was $4.451,500. The large advance increased the FY15 tax revenue and decreased the FY16 settlement amount (1.010). The June advances by law are restricted for the next fiscal year unless the Board of Education authorizes the funds to be used in the fiscal year received. The spending of funds in the year received has not been authorized by the Bexley Board of Education and would be a sign of an unhealthy financial condition if changed. The forecast does not assume any change in collection of delinquent taxes. Historically, growth in real estate property valuation has been included in these projections. Calendar year 2015 collections are based on the triennial update for 2014 valuations. Residential valuations increased by 6.53%, commercial property increased by 0.31% and public utilities increased by 5.4%. The value of all TIFF property increased by 17.0%. Calendar year 2018 collection will be based on new property reappraisal. Residential values increased by 5% and commercial property by 0.3%. Because of HB920 the District only receives a small increase from the increase of property values. It does receive an increase from new construction. The revenue from One Gateway increased by $60,000 in CY15. The tax abatement on these properties is starting to be phased out starting with CY15 taxes. See the table below.

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Bexley City School District, Financial Projection, 5705.391 O.R.C. as enacted by H.B. 412 For the Fiscal Years Ending June 30, 2014 through 2021 Several adjustments have been made with the new tax increment financing (TIF) area on Main Street and how property taxes have been received by the District in FY11and FY12. The TIF adjustment seems to be caught up and starting in FY14. The August 2012 property settlement included a one-time payment of $293,780 from two properties on Main Street that the owners had appealed the valuation from 2009. This payment is a one-time increase and is the reason the FY13 real estate tax revenue is higher than the FY14 revenue. The 2014 calendar year real estate tax settlements had an error made by the County. A new state law changed the how real estate taxes are collected. The new law makes 100% of the tax owed to be paid by the property owner. The State of Ohio will not pay rollback and homestead. The Bexley Public Library had a new issue collected in 2014 for the first time. The calculation by the county did not take the new law into consideration. The bottom line is the school district received $101,294 in the two settlements that was tax money for the Bexley Library. The district refunded the money in September 2014. The FY14 taxes are $50,000 too high and the FY15 are lower by $50,000 due to these adjustments. The following table shows property value percentage increases used in these projections. The reduction in commercial valuations in 2010 to 2012 is from removing the TIF property’s valuation from the total (a small amount of residential valuation also moved to TIF values). The district still receives the TIF payments with the property tax settlement but the valuation has been removed from the district total taxable valuation. The far two columns on the right show the TIF values and increase. Note the increase in Residential TIF Values for 2015 reflects the tax abatement being phased out. Calendar % Increase % Increase % Increase Residential TIF Commercial TIF Year Real Estate Commercial Utilities Public Values (% Inc.) Values (% Inc.) 2007 0.30% 11.70% -8.36% na na 2008 0.70% 7.56% -26.7% na na 2009 0.47% 11.8% 7.02% na na 2010 0.45% -6.17% 6.65% na na 2011 0.16% 22.95% 10.3% $1.439 M (na) $2.870 M (na) 2012 2.71% -5.98% 13.76% $3,363 M (133%) $5.634 M (96.3%) 2013 -0.05% -0.4% 10.63% $2,775 M (-17.5%) $6,025M (6.9%) 2014 -0.30% -1.11% 13.0% $2,781 M (0.2%) $6,300M (4.5%) 2015 6.53% 0.31% 5.44% $3.774 M (35.7%) $6.500 M (3.17%) 2016 0.17% 6.50% 5.30% $4.045 M (0.01%) $6.253 M (1.08%) 2017 0.36% -1.15% 2.29% $3.794 M(-6.21%) $6.084 M (-2.70%) 1.020 Personal Property Tax Reduction. The 2011-13 state budget removed all of the state payment for personal property tax reimbursements starting July 1, 2011. Based on the new state budget, all revenue ($293,971 in FY11) from this source has been removed from the five-year forecast. FY14 and FY15 have a very small amount that was a payment of delinquent taxes from before July 1, 2011. 1.030 Income Taxes - The district passed a 0.75% school income tax in November 2004. The first year of collection was 2005. The payments are received in quarterly payments in January, April, July, and October from the Ohio Department of Taxation (ODT). The ODT estimated in the fall of 2004 that the income revenue from the 0.75% income tax would be $6,285,600. The estimate was based on 2002 data that showed the taxable income for Bexley residents at $832,438,925. The 2002 data was the latest available at that time. The data below shows the following recent history of taxable gross income for Bexley. Calendar year 2014 is the most recent year available from the Ohio Department of Taxation.

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Bexley City School District, Financial Projection, 5705.391 O.R.C. as enacted by H.B. 412 For the Fiscal Years Ending June 30, 2014 through 2021 Total Federal Adjusted Taxable Total Federal Adjusted Taxable Year Gross Income (from Ohio Dept. of Tax) Year Gross Income (from Ohio Dept. of Tax) 2005 $795,378,841 2010 $697,023,894 (11.2% decline) 2006 $974,916,862 2011 $743,396,122 (6.7% increase) 2007 $928,000,769 2012 $864,868,184 (16.34% increase)

2008 $731,676,861 (21.2% decline) 2013 $859,350,002 (0.64% decline) 2009 $626,678,561 (14.36% decline) 2014 $919,370,736 (6.98% increase)

Page 24 shows the income tax revenue broken down by calendar year and page 25 shows the income tax by fiscal year received. Starting with the April 2009 income tax payment, the District saw a sharp drop in income tax revenue from the expected annual amount of $6.2 million. Several factors caused the income tax losses. The factors include the losses in the stock market starting in October 2008, interest income and dividend losses, a very poor job market and several families relocating their income taxing residence to Florida. The State had estimated 20.9% of Bexley’s income tax comes from capital gains and dividend payments, which have experienced large losses with the stock market decline. The income tax received in FY10 and FY11 ($4,700,128) was a decrease of $1.5 million or 24.2% from the expected amount. The low point of the income tax revenue was FY10 and FY11 amounts. The increases by fiscal year have been 16.3% in FY12, 14.95% in FY13, 11.99% in FY14, a drop of 8.88% in FY15 and a 12.55% increase in FY16. FY17 will be a record high of $8,123,073 or a 12.56% increase. The state does not provide any detail income information that can be used for estimating income tax payments and the last gross income report available is from 2014. FY17 will be the highest fiscal year collection to date. The average of the FY14 to FY17 is $7.196 million dollars and is used for the estimates for FY18 and FY19. A small growth amount is estimated for FY20 and FY21. A substantial drop in the stock market would lower the income tax very quickly. 1.035 State Foundation/Casino – (Funding provided though School Finance Payment Report - SFPR) In FY02, the district received $4,658,797 in State Foundation aid. FY02 funding represented the highest amount of State Foundation aid for the district. In FY14 the district did receive a positive adjustment of $54,588 from FY13 state funding. In FY15 the district received an adjustment from FY14 in the amount of $25,478. In FY17 the district has received a decrease to FY16 in the amount of $70,689. The state did not provide a calculation for these adjustments. The State Foundation estimated for FY17 is based on the current SFPR worksheet, which is on ODE website. The State formula still has a transitional guarantee that provides the District with at least the amount of state aid received in the previous year. The current guarantee amount is $223,451 which is down from $352,654. In FY16 state funding did increase by $38,133 for preschool special education funding and special education transportation. Over the last decade the state has discussed removing the guarantee amount. Final budgets did not remove the guarantee. The forecast assumes flat funding for each fiscal year after 2017 because the state is in the midst of approving a new biennium budget. It is too early at the time of these assumptions to know the impact of the state budget, but by October 2017 the forecast will show these changes. Ohio has opened 4 new casinos. The state law sets 34% of the casino revenue to go to schools. The payments are received in August and January of each fiscal year and estimates included in the forecast are for $114,000 per year.

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Bexley City School District, Financial Projection, 5705.391 O.R.C. as enacted by H.B. 412 For the Fiscal Years Ending June 30, 2014 through 2021 1.050 Property Tax Allocation (Rollback and Homestead) - Rollback and Homestead are property tax payments made from the state in exchange for tax reduction on homeowners. The increase starting in FY11 in Rollback and Homestead is reflecting the 6.5 mill levy passed in November 2010. The state law changed this area starting in November 2013. Future tax levies will not have the state contributions to this area. Revenue will be received all from the tax payers in General Property Taxes (1.010) Also, eligibility for homestead payments from the state will now be restricted to low income homeowners. Revenue from this area will not grow in the future if new levies are approved. 1.060 All Other - Investment income, tuition from summer school and court placed students are the primary components of other revenue. Investment income is a function of available cash balances and market interest rates. Current interest rates have increased this year, but are still at historical low rates. Current rates are 0.89% for overnight accounts and longer-term investments are below 2.0%. Interest income for FY08 was $879,554. Interest income for FY14 was only $86,104. Interest was $172,636 in FY15 and $225,264 in FY16. The current yield of the portfolio is 1.43% and the projected interest income for FY17 is $282,000. The district has extended the maturity time of investments to pick up higher rates. Interest income will decrease as available cash balances decrease. Rental of buildings has several new groups renting facilities over the past two years. About $20,000 has been reduced due to a church potentially no longer renting one of the district’s facilities. The FY16 payment in lieu of taxes from the City of Bexley was $42,177 or 74.4% higher due to additional employees in the One Gateway Project. 2.06 Other - FY15 had a one-time refund from the county auditor in the amount of $98,518 for previous paid fees for collection of taxes and a refund of $43,802 from the FY13 Worker’s Compensation. These refunds are not expected in the future.

Expenditure Assumptions (see review of object - pages 16-21)

3.010 Salaries - The salaries included for the FY17 are from the appropriations adopted by the Board of Education in September 2016 and adjusted for actual projected expenditures. Current BEA contract sets the increase for salaries at 1% in July 2015, 1% in July 2016, and 1% in July 2017. OAPSE (Non-teaching staff) increases are 2.4% in July 2017, $0.53 increase in July of 2018 and $0.52 increase in 2019. Future salary increases are subject to negotiations with the BEA and OAPSE. For the purpose of this five-year projection, a 2.0% base increase and a 2.0% step increase are used for future years. (higher than in the past due to the large number of new teachers hired in the past two years that all will get a step increase.) The current cost of 1% salary increase for all salary areas is $185,000. Staffing changes in FY15 included adding the Special Ed. Director position to the salary accounts. Previous years it was included in the purchase service (400) object. In FY15 one elementary positon was added for enrollment and a reduction of one PE teacher in HS. FY15 has $300,000 of salary costs for substitute teachers removed from salary and placed in purchase services to reflect hiring sub teachers through the COG. FY16 includes adding one teacher at Montrose in the behavior unit. The cost historically was in purchase services. Other changes in FY16 include adding 0.2 FTE to each elementary gifted teacher and moving a music teacher salary to the COG as a teacher aide. FY17 included adding one elementary position based on class sizes. FY18 includes an additional 5.5 staff for moving 6th grade to the Middle school, special education and class sizes. A total of 18 teachers and 2 classified staff retired at the end of FY15. In FY16 a total of $669,313 was paid as severance pay. Replacement salaries for these teachers were lower by about this same amount in FY16. With the step and wage increases this will keep the personnel salaries line flat for FY17. Future years will not have this number of retiring staff members.

12

Bexley City School District, Financial Projection, 5705.391 O.R.C. as enacted by H.B. 412 For the Fiscal Years Ending June 30, 2014 through 2021 3.020 Benefits – The benefits area includes retirement and insurance benefits. Based on the 2016 actual expenditures, the breakdown in this area is as follows: Retirement (STRS, SERS, Medicare) 35.36% - Medical Insurance 54.13% - Dental Insurance 3.4% - All Other 7.11%. The estimates for FY17 are the appropriations as adopted by the Board of Education in September 2016 and adjusted to reflect actual projected expenditures. The cost for retirement usually will increase the same percentage as salary increases. Payments for State Teachers Retirement System are based on estimated payroll information submitted to STRS annually. The estimated amount for calendar year 2015 was made before the decision to move all substitute teachers to the ESC/COG. The amount being withheld for calendar year 2015 will be over by $120,000. STRS payments for FY16 and FY17 will be lowered to offset 2015 overage. The rates for medical insurance have increased by 9.0% in July 2014 and July 2015. The July 2015 increase was for 18 months. In October of 2017 the district entered into a two-year agreement with Medical Mutual for a 7.0% increase in January 2017. The forecast has an increase of 9% for future years. The affordable health care law has a Cadillac tax that could cost $800,000 which has been delayed until 2020 and the law is in uncertain political waters at this time. The District will have conversations with both employee groups to work on reducing the Cadillac tax if this tax remains in the federal law. The tax is not figured into this estimate. The additional staff have also been factored into the FY18 forecast and beyond for benefit purposes. Dental rates increased remained the same in July 2014. Effective July 2015 dental rates dropped by 3.5% until July 1, 2017. Future increases are at 5% per year. An extra $130,000 was added in FY16 and FY17 to cover the cost of staff tuition reimbursement increases for gifted certification.

3.030 Purchased Services - Purchased Services includes all utilities (17.53%), repairs (19.32%), tuition costs for outside placements for special education, vocational, charter schools and other tuition students (31.14%), contracted substitute teachers, teacher aides and OT services (15.47%), legal costs (2.93%) and all other purchased services total (13.61%) based on FY16 actual expenditures. The estimates for FY17 have been adjusted to reflect projected expenditures and current year trends. The following areas of note:

Utility increases are very hard to predict. Natural gas had a large increase in FY15, but a new purchasing agreement lowered the expected costs in FY16. The forecast keeps the cost of gas low. Electric costs increase will be held down by changing over to more economical lighting and other energy improvements. The estimates are to increase around 5-6%.

Tuition to other districts increased by 3.88% in FY16 and estimated 15.0% in FY17. Includes increase for the new College Credit Plus Program. Other tuition includes students placed or enrolled in other districts for special education reasons, Eastland Vocational School and charter schools. Future increases are about 9% with very little control over most expenditures. This area of expense is very hard to predict depending on the needs of students and agreements made for them to attend programs outside the district. The District is experiencing a large increase in FY17.

Starting in the 14/15 school year, all substitute teachers are now hired through the Educational Service Center of Central Ohio/Council of Government (COG). The cost for substitute teachers is posted to object 411. Previous cost had been posted to 100 for salaries and 200 for retirement costs. Total cost for FY15 was $299,980 and FY16 was $428,166, which includes the salary, retirement and business charge for substitute teachers. FY16 includes costs for several long term subs for extended teacher absences.

Several areas were moved from salary account to purchase services for FY16. This includes one music teacher converted to a music aide. The sound and music position was also moved from a Bexley employee to a COG employee. The increase in purchase services is offset by a reduction in salaries and benefits.

Teaching and Special Education aides continue to increase in numbers and cost with the a projected increase in FY17 around 30%. These positions have been contracted through the COG.

13

Bexley City School District, Financial Projection, 5705.391 O.R.C. as enacted by H.B. 412 For the Fiscal Years Ending June 30, 2014 through 2021

Repairs are constantly a concern for a district with older facilities and Bexley is not immune. For purposes of this forecast increases in the repair line items have been increased.  

In 2016 the community passed a permanent improvement levy of 1.38 mills that will generate an estimated $688,000. The revenue and expense of this does not flow through this forecast. However, expenses that are normally in the capital outlay and purchased services categories can be diverted to permanent improvement and would relieve the general fund of significant costs. This is an area that must have more discussion and planning.

3.040 Supplies - Supplies include teaching supplies, textbooks, paper, library books, and software (68.58%). Other areas include cleaning, maintenance, bus and gasoline supplies (17.44%) and all other remaining supplies (13.98%). The estimates for FY17 are the 2017 appropriations as adopted by the Board of Education in September 2016 and adjusted to reflect projected expenditures. FY15 and FY16 expenditures for textbooks were lower than normal due to adoption schedules. The textbook amount is back to the normal amount of $300,000 for FY17, however, timing of payments could push this expense into FY18. Estimated increases for future years are at 3.0%. 3.050 Capital Outlay – Capital outlay expenditures include purchases of equipment, furniture, technology, vehicles and building improvements/construction. Because many of these types of expenditures occur over the summer months there are fluctuations from one year to the next. Purchases of equipment or computers may be encumbered in April and may not be delivered or invoiced until July. This was the case with a new chiller in 2015 that was not fully completed until later in the summer. The district has a few outstanding purchases that assumedly will be paid out in July and into FY18. FY17 has funds to purchase a new van. FY18 and FY19 includes $95,000 for one new school bus each year. The note in purchased services regarding the permanent improvement fund applies to Capital Outlay as well. The district should divert any additional costs towards the permanent improvement fund and relieve financial pressures off the general fund. 4.300 Other Objects - The major items in this area are charges for the collection of property and income taxes that the county and state assess. The county charged a new fee starting in 2013 for the Franklin County Land Bank. The total fee for CY16 was $27,313. The charge will help buy and tear down blighted properties in Franklin County. 5.010 – 5.030 Other Financing Uses- Transfers in FY17 include the following amounts to the following funds: Athletic Fund $35,000, Theater Fund $25,000, Food Service Fund $180,000, Permanent Improvement Fund (field replacement fund) $25,000 and Middle School Camp Fund $10,000. FY17 Food Service transfer is $20,000 lower than FY16 and FY16 was $30,000 lower than previous years. The reduction is due to food service fund operating at a smaller deficit. The camp fund transfer reflects a new camp program that lowered Bexley’s general fund salary costs since staffing is now provided by the camp vendor. Advances are temporary loans from the General Fund to other funds that will be returned once they have received reimbursements. The majority of the time this is for federal grants. These are returned in the next fiscal year on line 2.050.

14

SECTION FOUR

BACKUP INFORMATION

15

May-17 OBJECT REVIEW OF 100 SALARY & WAGES

Percent Actual Percentof 2016 Increase 2017 Percentage 2017 Percentage 2018 Percentage 2019 Percentage 2020 Percentage 2021 Percentage

Total Expenditures Over FY15 Approp (a) Increase Proj Exp.(b) Increase Proj Exp. Increase Proj Exp Increase Proj Exp Increase Approp Increase

111 certified salary ( c) 74.38% 13,708,940 -1.46% 14,110,935 2.93% 14,009,000 2.19% 14,642,000 4.52% 15,256,964 4.20% 15,897,756 4.20% 16,517,769 3.90%141 classified staff ( c) 15.96% 2,940,686 3.71% 3,253,350 10.63% 3,168,500 7.75% 3,279,398 3.50% 3,394,176 3.50% 3,512,973 3.50% 3,635,927 3.50%112 certificate subs (d) 0.00% 0 (d) 0 0 0 0 0142 classified subs 0.73% 133,647 -19.44% 125,500 -6.10% 93,500 -30.04% 96,305 3.00% 99,194 3.00% 102,170 3.00% 105,235 3.00%144 classified overtime 0.79% 145,891 14.33% 152,300 4.39% 146,000 0.07% 150,380 3.00% 154,891 3.00% 161,087 4.00% 167,531 4.00%

0113/143 supplements all ( c) 3.96% 730,323 1.57% 806,150 10.38% 794,300 8.76% 830,044 4.50% 854,945 3.00% 880,593 3.00% 907,011 3.00%

119 summer school 0.30% 54,929 87.96% 42,000 -23.54% 41,100 -25.18% 42,333 3.00% 43,603 3.00% 44,911 3.00% 46,258 3.00%132/162 termination(e)(f) 3.63% 669,313 76.90% 115,825 -82.69% 87,084 -86.99% 315,000 261.72% 120,000 -61.90% 123,600 3.00% 127,308 3.00%

139/169/171 other 0.26% 47,000 53.70% 51,200 8.94% 57,395 22.12% 60,265 5.00% 63,278 5.00% 66,442 5.00% 69,764 5.00%

TOTAL 100.00% 18,430,728 1.26% 18,657,260 1.229% 18,396,879 -0.18% 19,415,724 5.54% 19,987,052 2.94% 20,789,532 4.02% 21,576,803 3.79%diff from original appropriation -260,381 -1.40%

(a) - FY 2017 amounts are the appropriations as adopted by the Board of Education - Sept. 2016 (b) - FY2017 projected expenditures are the estimated actual expenditures. This is the amount used for the 5 year projections. By state law actual expenditures must be equal to or less than appropriations. Estimates are based on past experience of actual expenditures lower than appropriations.

# BEA contract provides a base increase of 1% in FY16, FY17 and FY18. FY19 and beyond use a 2.0% increase. Actual salary will be negotiated in spring of 2018. Step increases are included at an overall cost of 2.1% per year (279,000 in FY18.

# OAPSE contract provided a base increase of 2.4% increase for 2017/18. A $0.53/$0.52per hour increase for FY19 and FY20 respectively. 2.0% increase is used for 2021 and beyond. Contract goes through June 30, 2020(c)- FY17 one aide moved from hired through the ESC to being hired by Bexley. Costs moved from purchased services (400) object to Salary (100) object. FY17 Athletic direct salary moved from certified (111) to classified (141). FY17 supplemental increased to reflect Lacrosse becoming a school sport. FY18 includes 2.5 FTE for 6th grade move. Staffing in the future years will be adjusted according to enrollment/program changes or other changes as approved. FY18 also includes 2.0 FTE additional staff for Intervention and 1 FTE for class sizes. (d) Substitute teachers are now hired through the Central Ohio Educational Service center as a purchase service starting with the 2014/15 year.(e) Termination benefits are offset by lower salaries of replacement staff. FY15 had 8 teachers in FY15 and FY16 had a record number of 18. FY18 will have a few large severances but should normalize by FY19(f) With large termination payment not made after FY16, the FY17 total are lower with the decrease in termination costs.

16

May-17 OBJECT REVIEW OF 200 - FRINGE BENEFITS

Percent Actual 2016 % Increase 2017Percentage 2017Percentage 2018 Percentage 2019 Percentage 2020 Percentage 2021 Percentageof Total Expend over FY15 Approp (a) Increase Proj Exp (b) Increase Proj Exp Increase Proj Exp (b) Increase Proj Exp (b) Increase Proj Exp (b) Increase

210 STRS (c) 2,141,211 -1.13% 2,176,620 1.65% 2,142,000 0.04% 2,238,787 4.52% 2,332,816 4.20% 2,430,794 4.20% 2,525,595 3.90%

220 SERS (c) 569,830 2.71% 620,640 8.92% 605,000 6.17% 626,175 3.50% 648,091 3.50% 670,774 3.50% 694,251 3.50%35.36% 2,711,042 -0.34% 2,797,260 3.18% 2,747,000 1.33% 2,864,962 4.29% 2,980,907 4.05% 3,101,568 4.05% 3,219,846 3.81%

213 Cert. Medicare (d) 194,517 3.55% 205,640 200,000 209,037 4.52% 217,189 3.90% 225,660 3.90% 234,461 3.90%223 Class. Medicare (d) 44,373 2.81% 51,225 50,000 51,750 3.50% 53,768 3.90% 55,865 3.90% 58,044 3.90%

3.12% 238,890 3.41% 256,865 7.52% 250,000 4.65% 260,787 4.31% 270,958 3.90% 281,525 3.90% 292,505 3.90%

239 Prof Dues 0.26% 19,911 2.64% 26,450 32.84% 20,000 0.45% 21,000 5.00% 22,050 5.00% 23,153 5.00% 24,310 5.00%

231/3/4 award\tuition (h) 1.82% 139,261 105.19% 181,000 29.97% 150,000 7.71% 175,000 4.00% 120,000 -31.43% 120,000 5.00% 120,000 5.00%does not include Cadillac does not include Cadillac

medical (e) 54.13% 4,150,481 8.97% 4,511,971 8.71% 4,450,000 7.22% 4,639,125 4.25% 4,847,886 4.50% 5,284,195 9.00% 5,759,773 9.00%

Group Life (f) 0.32% 24,397 -0.55% 26,186 7.33% 25,000 2.47% 26,130 4.52% 27,044 3.50% 27,991 3.50% 28,970 3.50%

dental (g) 3.40% 261,073 -1.72% 276,790 6.02% 269,000 3.04% 277,070 3.00% 290,924 5.00% 305,470 5.00% 320,743 5.00%

worker's comp. 1.51% 115,938 22.05% 125,770 8.48% 110,586 -4.62% 115,009 4.00% 119,610 4.00% 124,394 4.00% 129,370 4.00%

unemployment 0.09% 6,833 -5.93% 10,000 46.34% 7,800 14.15% 8,034 3.00% 8,275 3.00% 8,523 3.00% 8,779 3.00%TOTAL 100.00% 7,667,826 5.91% 8,212,292 7.10% 8,029,386 4.72% 8,387,117 4.46% 8,687,653 3.58% 9,276,819 6.78% 9,904,297 6.76%

-182,906 -2.23%

(a) - FY 2017 amounts are the appropriations as adopted by the Board of Education - Sept. 2016 (b) - FY2017 projected expenditures are the estimated actual expenditures. This is the amount used for the 5 year projections. By state law actual expenditures must be equal to or less than appropriations. Estimates are based on past experience of actual expenditures lower than appropriations.(c) - Increases in retirement tied directly to salary increases plus SERS surcharge at 2.0% of payroll for Bexley. STRS is deducted based on an annual estimate of salary. August 2014 the district moved all certificated subs to the COG. The 14/15 estimate was made in January 14 before subs moved to the COG. Will cause a one time decrease in STRS payments in the 2015/16 of $90,000 and $45,000 in 2016/17.(d) - Increases in Medicare is tied to salary increases for all new staff hired since 1986.(e) - Medical insurance increased 9% in FY15. The increase was for 18 months. January 2017 rates increased 7.5% and are for two years. Future increases are estimated at 9%. The affordable health care law delayed the Cadillac tax until 2020. Current estimated cost is $800,000 +. This tax is NOT INCLUDED. Costs for FY18 and beyond are based on current enrollment.(f) - Life insurance is $0.095 per $1000 of salary. Increase will follow salary increases.(g) - Dental insurance future years are at an 5% increase. (h) - Extra $130,000 added in FY16 and FY17 to cover tuition for staff to gain a gifted endorsement certification.

diff from original appropriations

17

May-17 OBJECT REVIEW OF 400 PURCHASE SERVICESPercent Actual 2016 % Increase 2017 Percentage 2017 Percentage 2018 Percentage 2019 Percentageof Total Expenditures over FY15 Approp (a) Increase Proj. Exp. (b) Increase Proj Exp Increase Proj Exp Increase

Duel Enroll/Sub Teachers(f) 8.48% 425,636 38.13% 451,000 5.96% 463,000 8.78% 481,520 4.00% 500,781 4.00%consultants / spec ed/otand staff development 3.07% 154,071 0.54% 183,920 19.37% 150,000 -2.64% 154,500 3.00% 159,135 3.00%Health Services (trainer) (d) 0.81% 40,400 0.00% 43,000 6.44% 68,700 70.05% 70,761 3.00% 72,884 3.00%Manage Services ESC 0.17% 8,570 -53.79% 20,000 0.00% 38,000 343.40% 39,520 4.00% 41,101 4.00%legal 2.93% 147,222 8.64% 140,000 -4.91% 121,000 -17.81% 145,200 20.00% 152,460 5.00%data processing/consultant (h) 0.91% 45,541 -2.54% 100,000 119.58% 79,000 73.47% 81,370 3.00% 83,811 3.00%Other services ( c) 12.40% 622,202 34.91% 723,300 16.25% 813,000 30.66% 845,520 4.00% 879,341 4.00% (contracted teacher aides)garbage 0.29% 14,569 -27.52% 20,000 37.27% 16,500 13.25% 16,995 3.00% 17,505 3.00%telephone 1.94% 97,105 17.15% 109,000 12.25% 105,000 8.13% 108,150 3.00% 111,395 3.00%electric 11.03% 553,447 0.79% 593,100 7.16% 550,000 -0.62% 583,000 6.00% 617,980 6.00%water 1.81% 91,005 -4.73% 113,500 24.72% 93,000 2.19% 100,440 8.00% 108,475 8.00%nature gas(g) 2.46% 123,461 -43.84% 225,000 82.24% 123,000 -0.37% 132,840 8.00% 143,467 8.00%

total utilities 17.53% 879,588 -9.09% 1,060,600 20.58% 887,500 0.90% 941,425 6.08% 998,822 6.10%

repairs ( e) & (j) 13.23% 663,966 -19.32% 824,500 24.18% 1,015,000 52.87% 972,000 -4.24% 1,020,600 5.00%insurance 1.13% 56,504 -7.69% 65,000 15.04% 59,500 5.30% 61,285 3.00% 63,124 3.00%rentals 0.49% 24,817 40.28% 33,500 34.99% 28,000 12.83% 28,840 3.00% 29,705 3.00%

other 2.00% 100,149 24.22% 92,000 -8.14% 77,000 -23.11% 88,550 15.00% 91,207 3.00%staff mileage /meetings 2.47% 123,995 16.84% 154,887 24.91% 124,000 0.00% 136,400 10.00% 150,040 10.00%postage 0.51% 25,748 -36.16% 36,500 41.76% 25,000 -2.90% 26,000 4.00% 27,040 4.00%advertising 0.08% 3,889 15.75% 5,200 33.71% 3,100 -20.29% 3,162 2.00% 3,225 2.00%

printing 0.84% 42,322 -17.25% 69,200 63.51% 48,000 13.42% 48,960 2.00% 49,939 2.00%student tuition for 31.14% 1,562,520 3.88% 1,643,500 5.18% 1,815,000 16.16% 1,978,350 9.00% 2,156,402 9.00%Eastland/post secondary/charter schools/ect.transportation 0.03% 1,359 -81.10% 16,000 13,500 13,905 3.00% 14,322 3.00%other (i) 1.79% 89,772 33.05% 176,125 96.19% 145,000 61.52% 94,250 -35.00% 96,135 2.00%

TOTAL (e) 100.00% 5,018,271 2.55% 5,838,232 16.34% 5,973,300 19.03% 6,211,518 3.99% 6,590,072 6.09%diff from original appropriations 135,068 2.31%

(a) - FY 2017 amounts are the appropriations as adopted by the Board of Education - Sept. 2016 (b) - FY2017 projected expenditures are the estimated actual expenditures. This is the amount used for the 5 year projections. By state law actual expenditures must be equal to or less than appropriations. Estimates are based on past experience of actual expenditures lower than appropriations.(c)' Teacher aides for classroom support in large classes and special education. Contracted through the ESC of Central Ohio (COG). Staffing has been increasing. (d) FY17 added Children's Hospital Weight Room Trainer(e) FY17 has $97,572 higher po's carrying over to FY17 than from FY15 to FY16. Projected exp. 2017 increase to reflect the higher carryover po's.(f) Starting in FY15 all substitute teachers are employed through the COG. Salary and retirement objects reduced by $400,000.(g) Contract negotiations with gas company lowered the costs in FY2016.(h) architect services and increase in META services(i) consultant costs for superintendent and treasurer search and other costs in FY17 only.(j) repair costs are scheduled to increase significantly for existing facilities.

18

May-17 OBJECT REVIEW OF 500 SUPPLIES

Percent Actual 2016 % Increase 2017 Percentage 2017 Percentage 2018 Percentage 2019 Percentageof Total Expenditures over FY15 Approp (a) Increase proj exp (b) Increase Proj Exp (b) Increase Proj Exp (b) Increase

510 General (d) 15.71% 208,076 -3.33% 235,250 13.06% 212,000 1.89% 243,800 15.00% 251,114 3.00%511 Instructional supplies 11.52% 152,622 12.10% 186,428 22.15% 135,000 -11.55% 140,400 4.00% 144,612 3.00%514 Health 0.45% 5,965 38.81% 5,800 -2.76% 5,900 -1.08% 6,077 3.00% 6,259 3.00%516 Software 21.02% 278,427 18.45% 252,036 -9.48% 280,000 0.56% 288,400 3.00% 297,052 3.00%519 Other Instructional 2.97% 39,315 -22.44% 42,965 9.28% 51,000 29.72% 52,530 3.00% 54,106 3.00%

520/523/524 Text \ Workbooks (c ) 14.16% 187,620 -0.35% 340,410 81.44% 300,000 59.90% 309,000 3.00% 318,270 3.00%530/539 Library Books/ Software 1.65% 21,909 -12.74% 21,925 0.07% 19,500 -11.00% 19,890 2.00% 20,288 2.00%

540 Periodicals 1.10% 14,583 13.30% 21,322 46.21% 13,000 -10.85% 13,260 2.00% 13,525 2.00%Total Instructional 68.58% 908,517 4.70% 1,106,136 21.75% 1,016,400 11.87% 1,073,357 5.60% 1,105,226 2.97%

570+571+572 Maintenance /Custodial 9.54% 126,397 -21.20% 152,500 20.65% 162,000 28.17% 166,860 3.00% 171,866 3.00%573 copy/maint supplies 17.44% 230,985 23.94% 199,900 -13.46% 188,000 -18.61% 193,640 3.00% 199,449 3.00%512 Office 0.85% 11,202 71.61% 13,600 21.40% 11,000 -1.81% 11,330 3.00% 11,670 3.00%

582/581 Gasoline/Transportation 3.60% 47,633 -18.18% 73,500 54.30% 54,000 13.37% 55,620 3.00% 57,289 3.00%Grand Total 100.00% 1,324,735 3.56% 1,545,636 16.68% 1,431,400 8.05% 1,500,807 4.85% 1,545,500 2.98%

(d) diff from original appropriations -114,236 -7.39%

(a) - FY 2017 amounts are the appropriations as adopted by the Board of Education - Sept. 2016 (b) - FY2017 projected expenditures are the estimated actual expenditures. This is the amount used for the 5 year projections. By state law actual expenditures must be equal to or less than appropriations. Estimates are based on past experience of actual expenditures lower than appropriations.

(c) FY15 and FY16 textbooks are lower than normal. FY17 amounts estimated at the historical amount. If textbooks were only increased by 5%in FY17 the total supplies for FY17 would be a 2.33% increase

(d) FY18 increase for phase in of 6th grade move. Elem 75% of 6th grade per pupil remains in budget and is phased down.

19

May-17 OBJECT REVIEW OF 600 CAPITAL OUTLAY

Percent Actual 2016 % Increase 2017 Percentage 2017 Percentage 2018 Percentage 2019 Percentageof Total Expenditures over FY15 Approp (a) Increase Proj exp (b) Increase Proj Exp Increase Proj Exp Increase

620 Structural Alterations/Repairs 14.91% 178,743 18.34% 218,000 21.96% 137,160 -23.26% 135,000 -1.57% 145,000 7.41%630 Landscaping and Playgrounds 5.92% 70,985 370.85% 800 -98.87% 750 -98.94% 75,000 9900.00% 75,000 0.00%

640 Equipment - Instructional, Tech (c.) (e.) 78.60% 942,174 111.43% 732,534 -22.25% 520,000 -44.81% 890,000 71.15% 950,000 6.74%650 Vehicles - Replacement 0.01% 163 -98.30% 2,500 1433.74% 700 329.45% 2,500 257.14% 2,500 0.00%

660 Vehicles - Buses Vans (d) 0.00% 0 0.00% 33,750 #DIV/0! 31,730 #DIV/0! 95,000 199.40% 95,000 0.00%690 Classroom Furniture 0.55% 6,590 -61.90% 12,364 87.62% 20,913 217.34% 45,000 263.96% 20,000 -4.37%

TOTAL 79.17% 1,198,655 0.00% 999,948 -16.58% 711,253 -40.66% 1,242,500 74.69% 1,287,500 3.62%diff from original appropriations -288,695 -28.87%

(a) - FY 2017 amounts are the appropriations as adopted by the Board of Education - Sept. 2016 (b) - FY2017 projected expenditures are the estimated actual expenditures. This is the amount used for the 5 year projections. By state law actual expenditures must be equal to or less than appropriations. Estimates are based on past experience of actual expenditures lower than appropriations.

(c) Copiers replaced in 2016 . Plans were to replace in FY17.(d) A van replacement is included in FY17 and a bus replacement in FY18 and FY19.

(e) Some FY17 equipment is expected to be paid out in FY18. Timing of payments could cause expenditures to cross over between fiscal years.

20

May-17 OBJECT REVIEW OF 800 OTHERPercent Actual 2016 % Increase 2017 Percentage 2017 Percentage 2018 Percentage 2019 Percentageof Total Expenditures over FY15 Approp (a) Increase Proj exp (b) Increase Proj Exp (b) Increase Proj Exp (b) Increase

841 Memberships ( e) 8.84% 49,747 90.63% 50,530 1.57% 50,000 0.51% 51,000 2.00% 52,000 1.96%843 Audit Costs 4.64% 26,097 80.60% 27,500 5.38% 27,860 6.76% 29,000 4.09% 29,000 0.00%844 City County Agreement (c) 2.57% 14,450 #DIV/0! 6,000 -58.48% 14,875 2.94% 15,000 0.84% 16,000 6.67%

845 Cost for Collection of849 Property / Income Taxes (d) 78.80% 443,254 15305.52% 472,300 6.55% 463,000 4.45% 490,000 5.83% 495,000 1.02%846 Election Expenses 0.51% 2,877 #DIV/0! 5,100 77.25% 2,900 0.79% 3,000 3.45% 3,000 0.00%

851 Liability Insurance 4.64% 26,088 #DIV/0! 28,000 7.33% 21,688 -16.87% 27,500 26.80% 29,000 5.45%Other 0.00% 0 0 0 na 2,000 #DIV/0! 2,000 0.00%TOTAL 100.00% 562,512 #DIV/0! 589,430 4.79% 580,323 3.17% 617,500 6.41% 626,000 1.38%

diff from original appropriation -9,107 -1.55%

(a) - FY 2017 amounts are the appropriations as adopted by the Board of Education - Sept. 2016 (b) - FY2017 projected expenditures are the estimated actual expenditures. This is the amount used for the 5 year projections. By state law actual expenditures must be equal to or less than appropriations. Estimates are based on past experience of actual expenditures lower than appropriations.

(c) New posting of object for City County Agreement codes starting in FY14 move to purchase services object 400

(d) Increase starting in FY14 due to new charge by County Treasurer for County Land Bank. CY16 amount was $27,313. Fees for income collections are charged as a percentage. Higher collections increase the fees.(e) Previous years had memberships for IB posted to curriculum purchase services. FY16 moves the expense to 841 object.

OBJECT REVIEW OF 900 TRANSFERSPercent Actual 2016 % Increase 2017 Percentage 2017 Percentage 2018 Percentage 2019 Percentageof Total Expenditures over FY15 Approp (a) Increase Proj exp Increase Approp Increase Approp Increase

Transfers To Athletic Fund 11.68% 35,000 0.00% 35,000 0.00% 30,000 -14.29% 35,000 16.67% 35,000 0.00% To Drama Fund 8.34% 25,000 0.00% 25,000 0.00% 25,000 0.00% 25,000 0.00% 25,000 0.00% To Camp Fund (b) 4.90% 14,700 0.00% 14,700 0.00% 10,000 0.00% 15,000 50.00% 15,000 0.00%

To Food Service Fund (a) 66.73% 200,000 0.00% 180,000 -10.00% 180,000 -10.00% 180,000 0.00% 180,000 0.00%

To P. I. Fund (field replace) 8.34% 25,000 0.00% 25,000 0.00% 25,000 0.00% 25,000 0.00% 25,000 0.00%TO: Contingent 0.00% 0 #DIV/0! 20,300 #DIV/0! 0 70,000 100,000Refund of Prior Year Rec. 0.00% 0 #DIV/0! 1,500 0 0 0

TOTAL 100.00% 299,700 0.00% 301,500 0.60% 270,000 -9.91% 350,000 29.63% 380,000 8.57%-31,500 -10.45%

(a) Transfer to food service reduced in FY16 and FY17. Revenue up in fund 006 - food service(b) Transfer if $14700 to MS Camp Fund offset salaries This does not include Advances

diff from original appropriations

21

Italic #'S are est.TAX SETTLEMENTS 2012 (A) 2013 2014 (B) 2015 2016 2017 est 2018 est 2019 est

Real Estate 1st half % 10,600,000.00 10,630,000.00 10,650,000.00 10,940,000.00 10,995,000.00 11,165,000.00 11,015,000.00 11,015,000.00

February 10,077,735 10,647,592 10,578,262 10,569,105 10,819,008 10,932,099 10,880,000 10,890,000February TIF 676,702 283,489 327,971 365,414 354,517 377,007 365,000 365,000Total February 10,754,437 10,931,081 10,906,233 10,934,519 11,173,525 11,309,106 11,245,000 11,255,000% of total 47.1% 48.2% 47.7% 47.5% 47.8% 48.1% 47.9% 47.9%

August Advance 1,693,280 1,694,230 1,694,230 4,451,500 1,700,000 1,700,000 1,700,000 1,700,000August - Balance (B) 7,043,691 6,966,241 7,169,151 4,529,807 7,411,966 7,400,000 7,450,000 7,460,000Escheated 0 0 0 0 0 0 0 0August TIF 583,138 297,051 277,824 281,315 279,525 280,000 290,000 290,000Total August - Bal 7,626,830 7,263,291 7,446,975 4,811,122 7,691,491 7,680,000 7,740,000 7,750,000Total August 9,320,110 8,957,521 9,141,205 9,262,622 9,391,491 9,380,000 9,440,000 9,450,000

Total Real Estate 20,074,547 19,888,602 20,047,438 20,197,141 20,565,016 20,689,106 20,685,000 20,705,000

Rollback 2,740,000 2,740,000 2,760,000 2,805,000 2,805,000 2,805,000 2,805,000 2,805,000February 1,362,610 1,377,376 1,395,743 1,407,718 1,402,371 1,402,563 1,405,000 1,405,000August 1,398,957 1,392,849 1,401,810 1,409,374 1,408,476 1,405,000 1,410,000 1,410,000

Total Rollback 2,761,567 2,770,225 2,797,553 2,817,092 2,810,847 2,807,563 2,815,000 2,815,000Percentage of Total 12.1% 12.2% 12.2% 12.2% 12.0% 11.9% 12.0% 12.0%

Total Real & Rollback (A)February 12,117,047 12,308,457 12,301,976 12,342,237 12,575,896 12,711,669 12,650,000 12,660,000August 10,719,067 10,350,371 10,543,015 10,671,995 10,799,967 10,785,000 10,850,000 10,860,000

Total Real and Rollback 22,836,114 22,658,827 22,844,991 23,014,232 23,375,863 23,496,669 23,500,000 23,520,000

original estimates 22,400,000 22,750,000 22,850,000 23,000,000 23,050,000 23,350,000 23,500,000 23,520,000

Total Personal Property 3,796 0 0 0 0 0 0 0

Total Calendar Year 22,839,910 22,658,827 22,844,991 23,014,232 23,375,863 23,496,669 23,500,000 23,520,000

Total Local 20,078,343 19,888,602 20,047,438 20,197,141 20,565,016 20,689,106 20,685,000 20,705,000Total State 2,761,567 2,770,225 2,797,553 2,817,092 2,810,847 2,807,563 2,815,000 2,815,000

Fiscal Year Revenue 2011/12 2012/13 2013/14 2014/15 2015/16 2016/17 2017/18 2018/19Real Estate 16,231,003 20,252,141 19,863,754 22,832,994 17,684,647 20,700,597 20,625,000 20,695,000State Utility Payment 0 na na na na na na naRollback 2,735,069 2,776,333 2,788,592 2,809,528 2,811,745 2,811,039 2,810,000 2,815,000Personal Property 3,796 0 0 176 0 0 0 0PP State JV25 0 0 0 0 0 0 0 0PP State 0 0 0 0 0 0 0 0

Total Fiscal Year Rev. 18,969,869 23,028,473 22,652,347 25,642,698 20,496,391 23,511,636 23,435,000 23,510,000

MINUS June Adv. this -1,693,280 -1,694,230 -1,694,230 -4,451,500 -1,700,000 -1,700,000 -1,700,000 -1,700,000PLUS June Adv. last 5,257,200 1,693,280 1,694,230 1,694,230 4,451,500 1,700,000 1,700,000 1,700,000Adjusted Fiscal Yr. Tax 22,533,789 23,027,523 22,652,347 22,885,428 23,247,891 23,511,636 23,435,000 23,510,000

(A)(A) Second half 2012 settlement included $293,780 from CVS and Bexley Pizza Plus form previous 3 years of back taxes(B) County Auditor overpaid 2014 settlements. Reason was new law for new taxes. Library new tax caused the issue. 1st half = $50,580 - 2nd half $50,714 Amount listed above for 2nd half received has the total paid back to County.

General Fund TAX REVENUE WORKSHEET - CALENDAR YEAR - COLLECTION YEAR

22

CALENDAR Residential 5.0% Commercial 0.31%YEAR 2018 GENERAL FUNDPROPERTY PROPERTY TAX TOTAL TAXES

CLASS VALUE RATE DUE

RESIDENTIAL 498,011,021 42.2324 21,032,191COMMERCIAL/INDUSTRIAL (a) 19,265,087 69.0147 1,329,575 2017 2018 DIFF.

PUBLIC UTILITY 5,110,395 107.9000 551,412 RESIDENTIAL 474,296,210 498,011,021 5.00%OUTSIDE EFFECTIV 38.3590 36.5324 -4.76%

TOTAL REAL 522,386,503 22,913,177 $'S RAISED 18,193,528 18,193,528 0.00%

Residential TIFF 3,984,251 45.4824 181,213Commercial TIFF 6,102,548 72.2647 440,999TIFF PAYMENT 10,086,799 622,212 COMMERCIAL 19,205,550 19,265,087 0.31%

millage rate includes bond and GF OUTSIDE EFFECTIV 63.5110 63.3147 -0.31%$'S RAISED 1,219,764 1,219,764 0.00%

TOTAL REAL 532,473,302 23,535,39099% collection 23,300,036Actual

BOND RETIRE BOND RETIREMENTTOTAL VALUE 522,386,503 3.2500 1,697,756

PERMANENT IMRPOVEMENTTOTAL VALUE 522,386,503 1.3189 688,976

ROLLBACK GF = ABOUT 11.83%

CALENDAR Residential 0.2% Commercial 0.1%YEAR 2017 GENERAL FUNDPROPERTY PROPERTY TAX TOTAL TAXES

CLASS VALUE RATE DUE

RESIDENTIAL 474,296,210 44.0590 20,897,017 0.36%COMMERCIAL/INDUSTRIAL (a) 19,205,550 69.2110 1,329,235 -1.15%

PUBLIC UTILITY 5,084,970 107.9000 548,668 2.29%

TOTAL REAL 498,586,730 22,774,920 0.32%

Residential TIFF 3,794,525 47.3090 179,515 -6.19%Commercial TIFF 6,084,295 73.8410 449,270 -2.70%TIFF PAYMENT 9,878,820 628,786 -4.07%

millage rate includes bond and GFTOTAL REAL 508,465,550 23,403,706 0.23%

99% collection 23,169,669Actual na

BOND RETIREMENTTOTAL VALUE 498,586,730 3.2500 1,620,407

PERMANENT IMRPOVEMENTTOTAL VALUE 498,586,730 1.3800 688,050

ROLLBACK GF = ABOUT 11.83%

CALENDAR Residential 0.2% Commercial 0.1%YEAR 2016 GENERAL FUND

PROPERTY PROPERTY TAX TOTAL TAXESCLASS VALUE RATE DUE

RESIDENTIAL 472,604,460 44.0560 20,821,062 0.17%COMMERCIAL/INDUSTRIAL (a) 19,428,570 68.6512 1,333,796 6.51%

PUBLIC UTILITY 4,971,250 107.9000 536,398 5.25%

TOTAL REAL 497,004,280 22,691,256 0.45%

Residential TIFF 4,044,950 49.1060 198,631 7.17%Commercial TIFF 6,253,030 73.7012 460,856 -3.81%TIFF PAYMENT 10,297,980 659,487 0.22%

millage rate includes bond and GFTOTAL REAL 507,302,260 23,350,743 0.45%

99% collection 23,117,236Actual 23,375,863BOND RETIREMENT

TOTAL VALUE 497,004,280 5.0500 2,509,872ROLLBACK GF = ABOUT 11.83%

CALENDAR Residential 6.5% Commercial 0.31%YEAR 2015 GENERAL FUND

PROPERTY PROPERTY TAX TOTAL TAXESCLASS VALUE RATE DUE

RESIDENTIAL 471,797,690 44.0355 20,775,866COMMERCIAL/INDUSTRIAL (a) 18,240,890 68.8908 1,256,629 2014 2015 DIFF.

PUBLIC UTILITY 4,723,260 107.9000 509,640 RESIDENTIAL 442,868,830 471,797,690 6.53%OUTSIDE EFFECTIV 40.7275 38.2303 -6.13%

TOTAL REAL 494,761,840 22,542,134 $'S RAISED 18,036,944 18,036,944 0.00%

Residential TIFF 3,774,470 49.5355 186,970Commercial TIFF 6,500,410 74.3908 483,570TIFF PAYMENT 10,274,880 670,541 COMMERCIAL 18,185,290 18,240,890 0.31%

millage rate includes bond and GF OUTSIDE EFFECTIV 62.0316 61.8426 -0.30%$'S RAISED 1,128,063 1,128,063 0.00%

TOTAL REAL 505,036,720 23,212,67599% collection 22,980,548Actual 23,014,232BOND RETIREMENT

TOTAL VALUE 494,761,840 5.5000 2,721,190ROLLBACK GF = ABOUT 11.83%

TAX CALULATIONS

TAX CALULATIONS - Actual values and rates

TAX CALULATIONS

TAX CALULATIONS

23

Settlement Ind. SD-100 Ind. SD-100ES W/H SD 101 W/H SD 141 Refund Total % Change StateDate Individual tax return ind. quarterly pmt. employer payments employers recon. pmt. (a) Received Previous Yr Estimate (b)

Jan 2012 167,047 151,192 569,469 4,030 -89,817 = 801,921 -10.08% 1,307,405April 2012 235,278 389,091 683,822 1,141 -70,242 = 1,239,091 15.03% 1,759,968July 2012 1,564,199 591,811 730,594 31 -80,225 = 2,806,410 16.78% 1,797,682

October 2012 93,873 436,382 664,271 1,168 -43,562 = 1,152,132 12.82% 1,420,546Total 2012 2,060,398 1,568,476 2,648,157 6,369 -283,846 = 5,999,554 11.24% 6,285,601

Jan 2013 175,893 132,285 599,022 481 -180,457 = 727,224 -9.31% 1,307,405April 2013 163,174 724,766 751,580 3,674 -46,278 = 1,596,916 28.88% 1,759,968July 2013 1,896,466 747,995 752,423 2,999 -107,105 = 3,292,778 17.33% 1,797,682

October 2013 136,743 586,753 597,949 435 -65,737 = 1,256,141 9.03% 1,420,546Total 2013 2,372,275 2,191,799 2,700,974 7,589 -399,578 = 6,873,059 14.56% 6,285,601

Percent of Total 34.52% 31.89% 39.30% 0.11% -5.81%

Jan 2014 257,634 274,375 638,251 216 -139,870 = 1,030,606 41.72% 1,307,405April 2014 199,528 544,008 760,161 3,469 -50,594 = 1,456,572 -8.79% 1,759,968July 2014 1,406,894 636,170 755,221 -4,723 -103,078 = 2,690,484 -18.29% 1,797,682

October 2014 146,744 426,961 684,492 273 -52,000 = 1,206,470 -3.95% 1,420,546Total 2014 2,010,800 1,881,514 2,838,125 -764 -345,542 = 6,384,132 -7.11% 6,285,601

Percent of Total 31.50% 29.47% 44.46% -0.01% -5.41%

Jan. 2015 317,238 138,879 654,598 1,058 34,683 = 1,146,457 11.24% 1,307,405Apr 2015 169,388 509,182 759,571 1,830 -71,823 = 1,368,148 -6.07% 1,759,968July 2015 1,571,517 698,310 770,140 399 -12,783 = 3,027,583 12.53% 1,797,682Oct. 2015 110,862 546,948 706,537 271 -145,049 = 1,219,569 1.09% 1,420,546Total 2015 2,169,005 1,893,319 2,890,847 3,558 -194,972 = 6,761,757 5.92% 6,285,601

Percent of Total 32.08% 28.00% 42.75% 0.05% -2.88%

Jan. 2016 263,898 416,836 697,340 931 -91,498 = 1,287,507 12.30% 1,307,405Apr 2016 208,447 756,202 786,136 809 -69,787 = 1,681,807 22.93% 1,759,968July 2016 2,056,923 750,205 824,501 1,352 -91,940 = 3,541,041 16.96% 1,797,682Oct. 2016 140,379 666,802 731,993 3,760 -49,470 = 1,493,464 22.46% 1,420,546

Total 2016 2,669,646 2,590,046 3,039,971 6,851 -302,695 = 8,003,819 18.37% 6,285,601Percent of Total 33.35% 32.36% 37.98% 0.09% -3.78%

Jan. 2017 261,483 354,033 753,568 2,512 -70,070 = 1,301,525 1.09% 1,307,405Apr. 2017 172,395 781,465 926,106 2,237 -95,161 1,787,043 6.26% 1,759,968

July 2017 est. 1,700,000 687,000 770,000 400 -85,000 3,072,400 -13.23% 1,797,682Oct. 2017 est 133,000 590,000 700,000 500 -70,000 1,353,500 -9.37% 1,420,546

Total 2017 2,266,877 2,412,498 3,149,674 5,649 -320,231 = 7,514,468 -6.11% 6,285,601

Grand Total 24,137,101 22,113,194 27,639,371 39,837 -3,685,534 = 70,243,969 72,416,407Percent of Total 34.4% 31.5% 39.3% 0.1% -5.2% 100.0%

* see October 2008 settlement sheet...info from Department of Taxation....Oct 2007 settlement did not receive large payment made by State on October 1 until Janauray 2008.

(a) Dollar refunded to tax payers. Post as negative receipt.

Bexley Income Tax Payment (First payment April 2005)

DATE RECEIVED - BY CALENDAR YEAR

24

Settlement Ind. SD-100 Ind. SD-100ES W/H SD 101 W/H SD 141 Refund Total % Change State

Date Individual tax return ind. quarterly pmt. employer payments employers recon. pmt. (a) Received Previous Yr Estimate (b)

July 2009 1,218,801 553,710 503,747 -448 -144,748 = 2,131,062 -33.17% 1,797,682October 2009 107,777 256,235 488,598 -86 -64,746 = 787,779 -26.62% 1,420,546January 2010 206,018 271,661 495,744 186 -228,936 = 744,674 1.02% 1,307,405

April 2010 169,186 296,193 653,116 1,643 -82,740 = 1,037,398 -8.11% 1,759,968Total FY10 1,701,782 1,377,799 2,141,206 1,295 -521,169 4,700,912 -23.29% 6,285,601

July 2010 963,685 499,669 563,749 334 -126,004 = 1,901,433 -10.78% 1,797,682October 2010 98,319 269,763 527,773 -137 -66,022 = 829,696 5.32% 1,420,546

Jan-11 230,716 216,258 544,038 370 -99,554 = 891,828 19.76% 1,307,405April 2011 152,622 337,863 675,572 3,908 -92,794 = 1,077,171 3.83% 1,759,968

Total FY11 1,445,342 1,323,553 2,311,132 4,475 -384,374 4,700,128 -0.02% 6,285,601

July 2011 1,307,182 603,853 640,179 371 -148,396 = 2,403,188 26.39% 1,797,682October 2011 115,863 393,313 573,802 3,776 -65,558 = 1,021,196 23.08% 1,420,546

Jan 2012 167,047 151,192 569,469 4,030 -89,817 = 801,921 -10.08% 1,307,405Apr-12 235,278 389,091 683,822 1,141 -70,242 = 1,239,090 15.03% 1,759,968

Total FY12 1,825,370 1,537,449 2,467,272 9,317 -374,014 5,465,395 16.28% 6,285,60116.28% Increase

July 2012 1,564,199 591,811 730,594 31 -80,225 = 2,806,410 16.78% 1,797,682Oct. 2012 93,873 436,382 664,271 1,168 -43,562 = 1,152,131 12.82% 1,420,546Jan. 2013 175,893 132,285 599,022 481 -180,457 = 727,224 -9.31% 1,307,405Apr 2013 163,174 724,766 751,580 3,674 -46,278 = 1,596,916 28.88% 1,759,968

Total FY13 1,997,139 1,885,244 2,745,466 5,354 -350,522 6,282,681 14.95% 6,285,601Percent of Total 31.79% 30.01% 43.70% 0.09% -5.58% 14.95% Increase

July 2013 1,896,466 747,995 752,423 2,999 -107,105 = 3,292,778 17.33% 1,797,682Oct. 2013 136,743 586,753 597,949 435 -65,737 = 1,256,141 9.03% 1,420,546Jan. 2014 257,634 274,375 638,251 216 -139,870 = 1,030,606 41.72% 1,307,405Apr 2014 199,528 544,008 760,161 3,469 -50,594 = 1,456,572 -8.79% 1,759,968

Total FY14 2,490,370 2,153,131 2,748,783 7,119 -363,306 7,036,098 11.99% 6,285,601Percent of Total 35.39% 30.60% 39.07% 0.10% -5.16% 11.99% Increase

July 2014 1,406,894 636,170 755,221 -4,723 -103,078 = 2,690,484 -18.29% 1,797,682Oct. 2014 146,744 426,961 684,492 273 -52,000 = 1,206,470 -3.95% 1,420,546Jan. 2015 317,238 138,879 654,598 1,058 34,683 = 1,146,457 11.24% 1,307,405Apr 2015 169,388 509,182 759,571 1,830 -71,823 = 1,368,148 -6.07% 1,759,968

Total FY15 2,040,265 1,711,192 2,853,882 -1,562 -192,218 6,411,559 -8.88% 6,285,601Percent of Total 31.82% 26.69% 44.51% -0.02% -3.00% -8.88% Decrease

July 2015 1,571,517 698,310 770,140 399 -12,783 = 3,027,583 12.53% 1,797,682Oct. 2015 110,862 546,948 706,537 271 -145,049 = 1,219,569 1.09% 1,420,546Jan. 2016 263,898 416,836 697,340 931 -91,498 = 1,287,507 12.30% 1,307,405Apr. 2016 208,447 756,202 786,136 809 -69,787 = 1,681,807 22.93% 1,759,968

Total FY16 2,154,724 2,418,296 2,960,154 2,410 -319,117 7,216,467 12.55% 6,285,601Percent of Total 29.86% 33.51% 41.02% 0.03% -4.42% 12.55% Increase

July 2016 2,056,923 750,205 824,501 1,352 -91,940 = 3,541,041 16.96% 1,797,682Oct. 2016 140,379 666,802 731,993 3,760 -49,470 = 1,493,464 22.46% 1,420,546Jan. 2017 261,483 354,033 753,568 2,512 -70,070 = 1,301,525 1.09% 1,307,405Apr. 2017 172,395 781,465 926,106 2,237 -95,161 = 1,787,043 6.26% 1,759,968

Total FY17 2,631,179 2,552,506 3,236,169 9,861 -306,641 8,123,073 12.56% 6,285,601Percent of Total 32.39% 31.42% 39.84% 0.12% -3.77% 12.56% Increase

Grand Total 24,570,978 23,248,692 29,319,044 44,586 -3,850,766 = 73,332,535 75,483,780Percent of Total 33.51% 31.70% 39.98% 0.06% -5.25% 100.0%

* see October 2008 settlement sheet...info from Department of Taxation....Oct 2007 settlement did not receive large payment made by State on October 1 until Janauray 2008.

(a) Dollar refunded to tax payers. Post as negative receipt.

(b) State estimates based on all districts with income tax. Bexley has more taxes paid with quarterly payments and annual filings.

Bexley Income Tax Payment (First payment received April 2005)DATE RECEIVED - BY FISCAL YEAR

25