Five Year Forecast Financial Report · Supplement 4 ‐ FSFP School Funding Proposal Potential Impact 26 Ohio Department of Education's purposes/objectives for the five‐year forecast

1

May,2019

TEAYSVALLEYLOCALSCHOOLDISTRICT‐‐PICKAWAYCOUNTY

StacyOverly,CFO

FiveYearForecastFinancialReport

PFR ReportWriter Software 2018 ©


TableofContents

Page

TableofContents 2

ForecastSummary 3

RevenueSourcesandForecastYear‐Over‐YearProjectedOverview 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

FiveYearForecast 22

Supplement1‐ForecastComparetoLastFiledForecast 23

Supplement2‐CashReserveIndicators 24

Supplement3‐Enrollment 25

Supplement4‐FSFPSchoolFundingProposalPotentialImpact 26

OhioDepartmentofEducation'spurposes/objectivesforthefive‐yearforecastare:

1.

2.

3.

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

ForecastPurpose/Objectives

ForecastMethodology‐Thisforecastispreparedbaseduponhistoricaltrendsandcurrentfactors.Thisinformationisthenextrapolatedintoestimatesforsubsequentyears.Theforecastvariablescanchangemultipletimesthroughoutthefiscalyearandwhilecashflowmonitoringhelpstoidentifyunexpectedvariancesnoprocessisguaranteed.Theintentistoprovidethedistrict'sfinancialtrendovertimeandaroadmapfordecisionsaimedatencouragingfinancialsustainabilityandstability.


May,2019 ForecastSummary TEAYSVALLEYLOCALSCHOOLDISTRICT‐‐PICKAWAYCOUNTY


FinancialForecast FiscalYear FiscalYear FiscalYear FiscalYear FiscalYear2019 2020 2021 2022 2023

BeginningBalance 21,958,423 22,977,658 21,909,747 21,953,499 20,535,676

+Revenue 43,239,069 43,039,486 45,751,940 46,149,169 46,425,051+ProposedRenew/ReplacementLevies ‐ ‐ ‐ ‐ ‐+ProposedNewLevies ‐ ‐ ‐ ‐ ‐‐Expenditures (42,219,834) (44,107,397) (45,708,188) (47,566,992) (48,930,887)

EndingBalancewithrenewallevies 22,977,658 21,909,747 21,953,499 20,535,676 18,029,840Note:NotReducedforEncumbrances

AnalysisWithoutRenewalLeviesIncluded:RevenueSurplusorDeficitw/oLevies 1,019,235 (1,067,911) 43,752 (1,417,823) (2,505,836)EndingBalancew/oLevies 22,977,658 21,909,747 21,953,499 20,535,676 18,029,840

3

TheupdatedforecastcallsforanoperationalsurplusforFY2019(insteadofadeficit)thankstoaddedtaxrevenuerelatedtoanewcompressorstationlocatedwithintheDistrict.TheimprovedPUPPvaluesareestimatedtogeneratemorethan$11millionofadditionaltaxrevenueoverthenext5year.Nevertheless,spendingisstillexpectedtoexceedrevenuebeginninginFY2020.Thisresultisinlargepartduetothefactstatefundingisexpectedtosufferasaresultofthenewvalue.Attheendoftheday,thenetbenefittotheDistrictafteraddingmorethan$11millionintaxrevenueisonlyanticipatedtobe$2to$4millionbytheendofFY2023oncestatefundingisadjusteddown.

Althoughoperationaldeficitsarestillprojected,theyremainmanageableespeciallyinlightoftheDistrict’shealthycashreserves.Itisimportanttokeepinmind,theDistrict’scapitalspendingplancanbescaledbackiffinancesdeterioratebetweennowandthestartofagivencapitalproject.Therefore,theDistrictstillforecastssustainable inancialconditionsthroughtheendoftheforecastperiod.

**Finally,animportantdisclosuretothisforecastrelatestothefactthestateiscurrentlydeliberatinganewbiennialbudgetaswellasanewstatefundingmodel.TheCupp/PattersonFairSchoolFundingPlan(FSFP)hasreceivedsignificantpublicityandgarnereddiscussion.IncludedinExhibit4ofthisreportisthepotentialimpactofthisplan(asitexistsatthispoint)ontheDistrict’sannualoperationaltrendsandcashbalances.Whiletheplandoesproduceresultsthatarebetterthanthecurrentschoolfundingformula,effortstoremainsustainablemustcontinuetobethefocus.

=RevenueSurplusorDeficit 1,019,235 (1,067,911) 43,752 (1,417,823) (2,505,836)

$17,529,840

$0

$10,000,000

$20,000,000

$30,000,000

$40,000,000

$50,000,000

$60,000,000

2018Actual 2019Proj. 2020Proj. 2021Proj. 2022Proj. 2023Proj.

Financial Forecast - Revenue, Expenditures, Levies, and Cash Balance

Total Revenue Replace/Renew Levies New Levies Total Expenditures Cash Balance



RevenueSourcesandForecastYear‐Over‐YearProjectedOverview

2018 2023RealEstate 21.1% 19.8%PublicUtility 2.7% 7.0%IncomeTax 17.6% 17.8%StateFunding 50.7% 48.3%PropTaxAlloc 2.8% 2.7%AllOthrOpRev 4.9% 4.4%OthrSources 0.2% 0.0%

Prev.5‐Year PROJECTED 5‐YearAvg.Annual FiscalYear FiscalYear FiscalYear FiscalYear FiscalYear Avg.AnnualChange 2019 2020 2021 2022 2023 Change

Revenue:1.010‐RealEstate 3.94% ‐0.78% 0.50% 3.16% 2.32% 1.11% 1.26%1.020‐PublicUtility ‐3.22% 110.60% 50.73% ‐1.54% ‐2.01% ‐2.05% 31.15%1.030‐IncomeTax 19.31% 4.18% 2.45% 2.42% 2.38% 2.34% 2.75%1.035‐StateFunding 4.99% 4.81% ‐6.83% 11.30% 0.00% 0.00% 1.85%1.040‐RestrictedAid 14.79% 5.33% ‐3.36% 0.78% 0.55% 0.62% 0.78%1.045‐RestrFederalSFSF n/a 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%1.050‐PropertyTaxAlloc 3.15% 2.77% 1.70% 2.90% 2.83% 1.29% 2.30%1.060‐AllOtherOperating 11.09% ‐1.66% ‐2.82% 1.85% 1.85% 1.85% 0.21%

1.070‐TotalRevenue 6.31% 5.96% ‐0.26% 6.30% 0.87% 0.60% 2.70%

2.070‐TotalOtherSources 203.64% 18.69% ‐82.90% 0.00% 0.00% 0.00% ‐12.84%2.080‐Totalw/OtherSrcs 6.36% 5.99% ‐0.46% 6.30% 0.87% 0.60% 2.66%

4

Obviously,PublicUtilitytaxrevenueisexpectedtobenefitfromthenewcompressorstationaddedtotheREXpipeline.Otherrevenuecategoriesanticipatemoremodestgrowthrates.Aspreviouslymentioned,statefundingisexpectedtosufferbecauseoftheaddedtaxvalue.ThissituationiswhystatefundingisexpectedtosupplylessoftheDistrict’soverallfundingbytheendofFY2023(seepiechartabove).Overall,revenueisexpectedtoaveragea2.66%annualgrowthrate.

RealEstate21.1%

PublicUtility2.7% IncomeTax

17.6%

StateFunding50.7%

PropTaxAlloc2.8%AllOthrOp

Rev4 9%

OthrSources0.2%

2018

RealEstate19.8%

PublicUtility7.0% IncomeTax

17.8%

StateFunding48.3%

PropTaxAlloc2.7%

AllOthrOpRev4.4%

OthrSources0.0%

2023



1.010‐GeneralPropertyTax(RealEstate)

ProjectedRevenuRenewalLevyRevenue2014 $7,457,265 $12015 $7,754,060

2016 $7,883,638

2017 $8,100,905

2018 $8,617,845

2019 $8,550,502 $0

2020 $8,593,653 $0

2021 $8,865,144 $0

2022 $9,070,686 $0

2023 $9,171,272 $0

FORECASTED2018 2019 2020 2021 2022 2023

TotalWithRenewalLevies 8,617,845 8,550,502 8,593,653 8,865,144 9,070,686 9,171,272YOY$Change 516,940 (67,343) 43,151 271,491 205,542 100,586YOY%Change 6.4% ‐0.8% 0.5% 3.2% 2.3% 1.1%

PercentageofTotalRevenue 21.1% 19.8% 20.0% 19.4% 19.7% 19.8%

Values,TaxRatesandGrossCollectionsTaxYr Valuation ValueChange ClassIRate Change ClassIIRate Change2017 481,350,530 22,760,440 20.00 (0.00) 20.70 (0.07)2018 487,421,710 6,071,180 20.00 ‐ 20.47 (0.23)2019 492,380,766 4,959,056 20.04 0.04 20.47 ‐2020 514,002,574 21,621,808 20.00 (0.04) 20.10 (0.37)2021 520,002,574 6,000,000 20.00 ‐ 20.10 ‐2022 525,752,574 5,750,000 20.01 0.01 20.10 ‐

*Projected%trendsincluderenewallevies

5

Realestaterevenuesuppliesapproximately20%oftheDistrict’soverallrevenue.Propertyvaluesareexpectedtocontinuetogrowasaresultofbothnewconstructionaswellasthetri‐annualreappraisal/updateofexistingproperty.SincetheDistrict’sassessedmillageisaslowasispermitted(20effectivemills),collectionsareforecastedtogrowinconjunctionwithallfuturepropertyvaluationgrowthwhetherthatgrowthisrelatedtonewconstructionorinflationaryincreasesofexistingproperty.ThisexplainstheupwardtrajectoryofthebarchartsaboveafterFY2019.

Itisworthnoting,Fiscal2019dipsslightlyfromFY2018levelsduetoslightlybetterfirsthalfcollectionsplitduringthespring2018collection,whichboostedFY2018revenue.Additionally,FY2018sawimprovedcollectionsofpastdelinquencieswhichalsocontributedtoabetterFY2018overallcollection.Sincebothofthesesituationsrepresentedone‐timeoccurrencesinFY2018,FY2019collectionsreflectadip,butasmentionedsubsequentestimatesindicateslowbutsteadygrowth.

RevenuecollectedfromtaxesleviedbyaschooldistrictbytheassessedvaluationofrealpropertyusingeffectivetaxratesforclassI(residential/agricultural)andclassII(business).

GrossCollectionRate

103.5%

99.7%99.7%

IncludingDelinquencies

100.0%99.9%99.8%

$7,457,265

$7,754,060

$7,883,638

$8,100,905

$8,617,845

$8,550,502

$8,593,653

$8,865,144

$9,070,686

$9,171,272

$0

$0

$0

$0

$0

$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

2014 2015 2016 2017 2018 2019 2020 2021 2022 2023

Actual Projected

ProjectedRevenue RenewalLevyRevenue



1.020‐PublicUtilityPersonalProperty

ProjectedRevenuRenewalLevyRevenue2014 $1,144,164 $1,144,164

2015 $1,122,446 $1,122,446

2016 $1,077,695 $1,077,695

2017 $1,066,845 $1,066,845

2018 $1,085,921 $1,085,921

2019 $2,287,003 $0 $2,287,003

2020 $3,447,274 $0 $3,447,274

2021 $3,394,249 $0 $3,394,249

2022 $3,326,149 $0 $3,326,149

2023 $3,258,049 $0 $3,258,049

FORECASTED2018 2019 2020 2021 2022 2023

TotalWithRenewalLevies 1,085,921 2,287,003 3,447,274 3,394,249 3,326,149 3,258,049YOY$Change 19,076 1,201,082 1,160,271 (53,025) (68,100) (68,100)YOY%Change 1.8% 110.6% 50.7% ‐1.5% ‐2.0% ‐2.0%


ValuesandTaxRatesTaxYear Valuation ValueChange FullVotedRate Change2017 47,500,050 (386,770) 22.70 ‐2018 154,026,370 106,526,320 22.70 ‐2019 151,026,370 (3,000,000) 22.70 ‐2020 148,026,370 (3,000,000) 22.70 ‐2021 145,026,370 (3,000,000) 22.70 ‐2022 142,026,370 (3,000,000) 22.70 ‐


6

PublicUtilitytaxrevenueisexpectedtogrowsignificantlybeginningin2019.ThisrecentdevelopmentisrelatedtoanewcompressorstationaddedtotheREXpipelinein2018.Thenewstationaddedover$100millioninPUPPtaxablevalue.WhiletheDistrict’slocalGeneralFundtaxcollectionswillimprovebyapproximately$2.4millionannually,statefundingisexpectedtosuffer.Beginningin2021,theforecastassumesPUPPvalueswillgraduallydeclineduetodepreciation,whichexplainsthedeclineinassociatedrevenue.Obviously,wewillcontinuetomonitoractivityherebecauseinvestmentstoimproveexistingassetscouldoffsetadropinoverallvalue.

Animportantsidenotethatremainsrelevantisthefactasecondpipeline(theATEXpipeline)followsnearlythesamepathastheREXline.However,thatlinehasproducednotaxrevenuefortheDistrict.ThisisduetothefactthematerialtransportedthroughtheATEXlineisexemptfromtaxes.Ourlocallegislators,aswellasotherlegislatorsfromaroundthestatehaveaheightenedawarenessofthepipelinetaxationissueandareworkingtointroducelegislationtoaddressinconsistenciesintaxpolicyrelatedtothematerialspassedthroughpublicutilitypipelines.TeaysValleywillremainanactiveparticipantinanypolicychangediscussions.

Revenuegeneratedfrompublicutilitypersonalpropertyvaluationsmultipliedbythedistrict'sfullvotedtaxrate.

GrossCollectionRateIncludingDelinquencies

100.0%100.0%100.0%100.0%100.0%100.0%

$1,144,164

$1,122,446

$1,077,695

$1,066,845

$1,085,921

$2,287,003

$3,447,274

$3,394,249

$3,326,149

$3,258,049

$0

$0

$0

$0

$0

$0

$500,000

$1,000,000

$1,500,000

$2,000,000

$2,500,000

$3,000,000

$3,500,000

$4,000,000

2014 2015 2016 2017 2018 2019 2020 2021 2022 2023

Actual Projected




1.030‐IncomeTax

ProjectedRevenuRenewalLevyRevenue2014 5,631,0762015 6,348,2662016 6,345,8302017 6,706,9592018 7,197,0632019 7,497,983 ‐2020 7,681,498 ‐2021 7,867,335 ‐2022 8,054,865 ‐2023 8,243,332 ‐

FORECASTED2018 2019 2020 2021 2022 2023

Total 7,197,063 7,497,983 7,681,498 7,867,335 8,054,865 8,243,332YOY$Change 490,104 300,920 183,515 185,837 187,530 188,467YOY%Change 7.3% 4.2% 2.4% 2.4% 2.4% 2.3%



7

FY2015representsfullcollectionofthenew1.5%tax.Theissuereplacedacontinuing0.75%traditionalincometaxlevy.Since2012,collectionshavemorethandoubleddespitethefactthetaxnowonlyappliesto"earned"incomereflectingbothpopulationgrowthcombinedwithincomegrowth.FY2019collectionsareexpectedtoincreasebymorethan4%overFY2018continuingthestronggrowthpatterns.TheforecastforFY2020throughtheremainderoftheforecastcallsforcontinuedgrowth,butatslightlylowerlevelsofbetween2%and3%peryear.

Revenuecollectedfromincometaxearmarkedspecificallytosupportschoolswithavoterapprovedtaxbyresidentsoftheschooldistrict;separatefromfederal,stateandmunicipalincometaxes.

$5,631,076

$6,348,266

$6,345,830

$6,706,959

$7,197,063

$7,497,983

$7,681,498

$7,867,335

$8,054,865

$8,243,332

‐ ‐ ‐ ‐ ‐

$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

2014 2015 2016 2017 2018 2019 2020 2021 2022 2023

Actual Projected




1.035‐UnrestrictedGrants‐in‐Aid

FORECASTED2018 2019 2020 2021 2022 2023

Total 20,255,115 21,228,645 19,779,737 22,014,630 22,013,909 22,013,329YOY$Change 1,104,397 973,530 (1,448,908) 2,234,893 (721) (580)YOY%Change 5.8% 4.8% ‐6.8% 11.3% 0.0% 0.0%


CoreFundingPerPupil 6,010 6,020 6,100 6,200 6,300 6,400StateShareIndex(SSI) 51.5% 51.5% 52.6% 52.6% 49.0% 49.0%StateCoreFundingPerPupil 3,094 3,099 3,209 3,261 3,084 3,133

FormulaADM(FundedStudentCount) 3,927 4,078 4,068 4,130 4,161 4,200

FundingStatus Capped Formula Formula Formula Guarantee Guarantee

8

FundsreceivedthroughtheStateFoundationProgramwithnorestriction.

ThestateretainedthebasicframeworkoftheschoolfundingformulaforitscurrentbudgetcoveringFY2018&FY2019.However,per‐pupilfundingincreaseswerelimitedtoonly$10per‐pupil(or0.167%)eachyearofthebiennial.Theselevelsweresignificantlylowerthanincreasesincludedinthepriortwobudgets.Thestateiscurrentlydeliberatingtheupcomingbiennialandconsideringreplacingthecurrentfundingsystemwithanewframework.

Assumingpropertyvaluescontinuetoplayasignificantroleinanyfuturefundingformula,thetaxvalueaddedbythenewREXcompressorstationwillhavedownwardpressureonTeaysValley’scalculatedaid.Simplystated,thehigherthedistrict’staxvalues(localcapacity),thelowerthestateaid.

Infact,baseduponcurrentlaw,thestateisexpectedmakeaone‐timefundingadjustmentnextfiscalyear(FY2020)duetothefactourvaluesincreasedbymorethan10%in2018.Thatadjustmentisforecastedtoclawback$1.75millioninStateAidinFY2020.TheDistricthasbeenworkingwithlegislatorstominimizethisnegativeprovisionincurrentlaw.BeginninginFY2021(irrespectiveastowhetherwehaveanewformulaoracontinuationoftheexistingformula),theforecastassumesthehigher2018taxablevalueswillbeginnegativelyimpactingtheDistrict’scalculatedstateaid.Itisassumedsomuchso,theDistrict’scalculatedstatefundingwilldropbelowamountsreceivedinprioryears.Therefore,theforecastassumestheDistrictwillbeguaranteefundedbaseduponfundingamountsitreceivedinprioryears.

$16,509,406

$17,790,935

$18,533,192

$19,150,718

$20,255,115

$21,228,645

$19,779,737

$22,014,630

$22,013,909

$22,013,329

$0

$5,000,000

$10,000,000

$15,000,000

$20,000,000

$25,000,000

2014 2015 2016 2017 2018 2019 2020 2021 2022 2023

Actual Projected



1.040&1.045‐RestrictedGrants‐in‐Aid

FORECASTED2018 2019 2020 2021 2022 2023

Total 408,791 430,573 416,091 419,342 421,638 424,254YOY$Change 75,436 21,782 (14,482) 3,251 2,296 2,616YOY%Change 22.6% 5.3% ‐3.4% 0.8% 0.5% 0.6%


EconomicDisadvantagedFunding 123,715 99,517 128,091 131,342 133,638 136,254PercentageofDisadvantagedStudents 30.1% 27.4% 30.0% 30.0% 30.0% 30.0%

9

Projectedfundinginthiscategoryiscomprisedofcareertechfunding,catastrophicaidreimbursement(associatedwithhighcostspecialneedsstudents)andeconomicdisadvantagedfunding.Sourcesreceiptedherearerestrictedinusetoonlytheirintendedpurpose.Combinedtheserevenuesourcesareprojectedtosupplyapproximately$400,000to$425,000ofrevenueannually.

FundsreceivedthroughtheStateFoundationProgramorotherallocationsthatarerestrictedforspecificpurposes.

$443,740

$402,876

$398,203

$333,355

$408,791

$430,573

$416,091

$419,342

$421,638

$424,254

$0

$50,000

$100,000

$150,000

$200,000

$250,000

$300,000

$350,000

$400,000

$450,000

$500,000

2014 2015 2016 2017 2018 2019 2020 2021 2022 2023

Actual Projected



1.050‐PropertyTaxAllocation

ProjectedRevenuRenewalLevyRevenue2014 $992,967

2015 $1,044,048

2016 $1,089,437

2017 $1,100,601

2018 $1,135,331

2019 $1,166,803 $0

2020 $1,186,611 $0

2021 $1,221,072 $0

2022 $1,255,613 $0

2023 $1,271,759 $0

FORECASTED2018 2019 2020 2021 2022 2023

TotalWithRenewalLevies 1,135,331 1,166,803 1,186,611 1,221,072 1,255,613 1,271,759YOY$Change 34,730 31,472 19,808 34,461 34,541 16,146YOY%Change 3.2% 2.8% 1.7% 2.9% 2.8% 1.3%


%ofResidentalRealEstate10%Rollback 9.99% 9.99% 9.99% 9.99% 9.99% 9.99%%ofResidentalRealEstate2.5%Rollback 1.58% 1.58% 1.58% 1.58% 1.58% 1.58%%ofResidentalRealEstateHomestead 1.90% 1.90% 1.90% 1.90% 1.90% 1.90%


10

ThestateprovidespropertytaxreimbursementstoqualifyingClassI(residentialandagricultural)propertyowners.AllClassItaxpayersinTeaysValleyareprovideda10%rollbackontheirtaxeswhichispickedupbytheState.Anadditional2.5%taxincentiveor“rollback”isprovidedtoowneroccupieddwellingsandcertainothertaxpayersqualifyforanadditionalHomesteadcreditfromtheState.Sincepropertyvaluationsareexpectedtosteadilyrisethroughtheforecastedperiod,statepaidpropertytaxreimbursementsarealsoexpectedtotrendupward.

Itisnoteworthy,agriculturalpropertyvaluationincreasesfueledoverallcollectiongrowthinthiscategoryinthepast.However,beginningwiththe2017reappraisal,agriculturalpropertyvaluesareexpectedtodecline.Therefore,futuregrowthisprimarilyattributabletoresidentialpropertyincreasesandassociatedrollbackswhichareexpectedtomorethanoffsetthedecliningagriculturalcomponent.

IncludesfundsreceivedforTangiblePersonalPropertyTaxReimbursement,ElectricDeregulation,HomesteadandRollback.

$992,967

$1,044,048

$1,089,437

$1,100,601

$1,135,331

$1,166,803

$1,186,611

$1,221,072

$1,255,613

$1,271,759

$0

$0

$0 $0

$0

$0

$200,000

$400,000

$600,000

$800,000

$1,000,000

$1,200,000

$1,400,000

2014 2015 2016 2017 2018 2019 2020 2021 2022 2023

Actual Projected




1.060‐AllOtherOperatingRevenues

FORECASTED2018 2019 2020 2021 2022 2023

Total 2,005,645 1,972,272 1,916,622 1,952,168 1,988,309 2,025,056YOY$Change 389,269 (33,373) (55,650) 35,546 36,141 36,747YOY%Change 24.1% ‐1.7% ‐2.8% 1.9% 1.9% 1.8%


11

HistorictotalsbetweenFY2014–FY2018havebeenimpactedbytheinconsistenttimingofMedicaidreimbursements.Additionally,FY2018wasimpactedbythedoublingofspecialeducationtuitionpaymentscarriedoverfromFY2017.SincerevenuewasinflatedinFY2018bytheadditionalpayments,FY2019indicatesareturntotypicallevels.

AbsentanyfurthertimingissuesrelatedtoMedicaidreimbursementsandspecialedtuitionreceipts,thiscategoryisexpectedtomaintainaslowbutsteadygrowthpattern.BasecollectionsinFY2109andbeyondanticipatea2%in lationaryincreaseandapick‐upininterestearnings.

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

$1,175,353

$1,413,391

$1,735,369

$1,616,376

$2,005,645

$1,972,272

$1,916,622

$1,952,168

$1,988,309

$2,025,056

$0

$500,000

$1,000,000

$1,500,000

$2,000,000

$2,500,000

2014 2015 2016 2017 2018 2019 2020 2021 2022 2023

Actual Projected



2.070‐TotalOtherFinancingSources

FORECASTED2018 2019 2020 2021 2022 2023

Total 88,712 105,288 18,000 18,000 18,000 18,000YOY$Change 65,933 16,576 (87,288) ‐ ‐ ‐YOY%Change 289.4% 18.7% ‐82.9% 0.0% 0.0% 0.0%


TransfersIn ‐ ‐ ‐ ‐ ‐ ‐AdvancesIn ‐ ‐ ‐ ‐ ‐ ‐

12

BothFY2014andFY2015wereimpactedbytwoconsecutiverefundsreceivedfromtheBureauofWorkers'Compensation.Eachrefundtotaledslightlymorethan$80,000.FY2016includes$32,681ofadvancereturns.FY2018&FY2019includetwomoreWorkersCompensationrefundstotaling$71,294and$75,000respectively.Futureyearsanticipateanominalamountofactivityrelatedtonon‐operatingissues.

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

$90,066

$106,676

$57,158

$22,779

$88,712

$105,288

$18,000

$18,000

$18,000

$18,000

$0

$20,000

$40,000

$60,000

$80,000

$100,000

$120,000

2014 2015 2016 2017 2018 2019 2020 2021 2022 2023

ActualProjected



ExpenditureCategoriesandForecastYear‐Over‐YearProjectedOverview

2018 2023Salaries 60.3% 57.8%Benefits 20.2% 24.3%PurchServ 13.3% 12.8%Supp&Mat 3.5% 3.2%CapitalOutlay 1.5% 0.2%Intergov&Debt 0.0% 0.0%OthrObjects 1.1% 1.0%OthrUses 0.0% 0.7%

Prev.5‐Year PROJECTED 5‐YearAvg.Annual FiscalYear FiscalYear FiscalYear FiscalYear FiscalYear Avg.AnnualChange 2019 2020 2021 2022 2023 Change

Expenditures:3.010‐Salaries 4.77% 5.78% 6.14% 4.50% 3.79% 3.84% 4.81%3.020‐Benefits 2.99% 18.94% 8.05% 7.40% 7.10% 7.27% 9.75%3.030‐PurchasedServices 9.37% 7.69% 4.82% 3.74% 3.74% 3.74% 4.74%3.040‐Supplies&Materials 6.40% 4.15% 15.29% ‐6.23% 3.00% 3.00% 3.84%3.050‐CapitalOutlay 30.97% ‐81.71% 0.00% 0.00% 0.00% 0.00% ‐16.34%3.060‐Intergov n/a n/a n/a n/a n/a n/a n/a4.010‐4.060‐Debt n/a n/a n/a n/a n/a n/a n/a4.300‐OtherObjects ‐9.00% ‐2.74% 16.68% ‐5.07% 6.98% 2.46% 3.66%4.500‐TotalExpenditures 4.69% 7.25% 6.80% 4.55% 4.55% 4.60% 5.55%

5.040‐TotalOtherUses 1414.79% 28433.94% ‐33.72% ‐20.60% ‐12.86% ‐69.36% 5659.48%5.050‐Totalw/OtherUses 4.56% 13.76% 4.47% 3.63% 4.07% 2.87% 5.76%

13

Overallexpendituresareprojectedtoincrease,onaverage,atarateof5.56%peryear.SalaryandBenefitspendingisanticipatedtoincreaseinconjunctionwithadditionalstaffaimedatimprovinginstructionalservicesandaccommodateagrowingenrollmentbase.Eachexpenditurenotegoesintofurtherdetailabouttheyear‐over‐yearchange.

SpendingalsoreflectsthegoalsandobjectivesapprovedintheDistrict'slatestcapitalspendingplan.AnyfundingshortfallsnecessarytofulfilltheapprovedcapitalspendingplanarecoveredbyGeneralFunddollars(theDistrict’sPermanentImprovementFundorMaintenanceSet‐AsideFundareusedfirst).Previously,supplementalcontributionsrequiredoftheGeneralFundwerereflectedasexpendituresfromtheCapitalOutlaycategory.BeginninginFY2019,anysupplementstobridgeshortfall’sincapitalspendingwillberecordedastransfersandreflectedonLine5.040‐TotalOtherUseslineitemoftheforecastinsteadofdirectexpensesreflectedinLine3.050–CapitalOutlay.Regardlessoftheaccountingchange,itisimportanttokeepinmindtransfersplannedtosupportthecapitalspendingplancanbescaledbackiffinancesdeterioratebetweennowandthestartofagivencapitalproject.

Salaries60.3%

Benefits20.2%

PurchServ13.3%

Supp&Mat3.5%

CapitalOutlay1.5%

Intergov&Debt0 0%

OthrObjects1.1%

OthrUses0.0%

2018

Salaries57.8%

Benefits24.3%

PurchServ12.8%

Supp&Mat3.2%

CapitalOutlay0.2%

Intergov&Debt0.0%

OthrObjects1.0%

OthrUses0.7%

2023



3.010‐PersonnelServices

FORECASTED2018 2019 2020 2021 2022 2023

Total 22,383,334 23,676,636 25,130,804 26,261,305 27,256,273 28,302,990YOY$Change 1,587,521 1,293,302 1,454,168 1,130,501 994,968 1,046,717YOY%Change 7.6% 5.8% 6.1% 4.5% 3.8% 3.8%

PercentageofTotalBudget 60.3% 56.1% 57.0% 57.5% 57.3% 57.8%

14

Employeesalariesandwages,includingextendedtime,severancepay,supplementalcontracts,etc.

FY2019markstheendofathree‐yearbargainingagreementbetweentheBoardandtheTVEA.Thatagreementincludedbasewageincreasesof2.5%inFY2017followedby2%increasesinbothFY2018andFY2019.Duringthespringof2019,theDistrictconcludedworkonasuccessorbargainingagreementtocoverFY2020–FY2022.ThenewcollaborativeagreementisexpectedtohelpcontinuetheDistrict’sfinancialstability.ElementsoftheagreementincludedacontinuationoftheDistrict’scurrenthealthinsuranceprogramwhichenabledaffordablebasewageincreasesforemployees(3%,2.5%and2%respectivelyforeachyearcoveredbythenewagreement).

SinceFY2014,theDistricthasstrategicallyaddedadditionalteachingstaffandsupportpersonneltoaccommodategrowingenrollment,toreplacepositionslostduringtheeconomiccrisis(2009–2013),andtosimplyimprovetheinstructionandoveralleducationalprogramofferedstudents.Mostrecently,inFY2019theDistrictaddednineadditionalteachingpositions,aguidancecounselorandabusdriver.FY2020includestheadditionoffourmoreteachingstaff,twoadministrativepositions(asstprincipalatSciotoandacurriculumcoach)andoneadditionalsecretarialpositiontosupporttheEMISandTransportationdepartments.Futureyearsassumetwoadditionalteachingstaffperyeartomaintainappropriatestudenttoteacherratios.

$17,885,556

$18,712,511

$19,523,134

$20,795,813

$22,383,334

$23,676,636

$25,130,804

$26,261,305

$27,256,273

$28,302,990

$0

$5,000,000

$10,000,000

$15,000,000

$20,000,000

$25,000,000

$30,000,000

2014 2015 2016 2017 2018 2019 2020 2021 2022 2023

ActualProjected



3.020‐Employees'Benefits

FORECASTED2018 2019 2020 2021 2022 2023

Total 7,503,283 8,924,100 9,642,688 10,356,606 11,092,332 11,898,388YOY$Change 673,654 1,420,817 718,588 713,918 735,726 806,056YOY%Change 9.9% 18.9% 8.1% 7.4% 7.1% 7.3%


15

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

EffectiveJanuary1,2014,theDistrictimplementedahighdeductiblehealthinsuranceprogramcombinedwithahealthsavingsaccount(HSA)foremployees.ChangestothehealthinsuranceplanhavehadatremendouslypositiveimpactontheDistrict’soverallbudget.Sinceimplementingtheplan,theDistricthasenjoyedstableinsurancepremiumsandmaintainedhealthyreserves.BeginninginFY2018though,premiumsincreasesbegantoreturntomoretypicalindustry‐trendlevels,althoughtheincreaseswereappliedtogreatlyreducedratesachievedfromtheinitial2014planchange.Theforecastassumesfuturepremiumswillcontinuetoincreaseatindustry‐widetrends,buttheDistrict’sinsuranceconsortiumcontinuestolookfornewopportunitiestopromotehealthandwellnessandprovideincentivestohelpmitigatethosetrendincreases.

BeginninginJanuary2017andendingJune2018(impactinghalfofFY17andfullyearofFY18),theforecastreflectsBoardshareHSAcontributionstobefundedoutoftheaccumulatedDistrictreserves.TheforecastreflectsthereturnoftheBoardshareHSAcontributionstotheGeneralFundinFY2019.

$6,399,874

$6,574,024

$6,891,140

$6,829,629

$7,503,283

$8,924,100

$9,642,688

$10,356,606

$11,092,332

$11,898,388

$0

$2,000,000

$4,000,000

$6,000,000

$8,000,000

$10,000,000

$12,000,000

$14,000,000

2014 2015 2016 2017 2018 2019 2020 2021 2022 2023

ActualProjected



3.030‐PurchasedServices

FORECASTED2018 2019 2020 2021 2022 2023

Total 4,952,105 5,332,847 5,589,775 5,798,578 6,015,302 6,240,262YOY$Change 38,264 380,742 256,928 208,803 216,724 224,960YOY%Change 0.8% 7.7% 4.8% 3.7% 3.7% 3.7%


16

Amountspaidforpersonalservicesrenderedbypersonnelwhoarenotonthepayrolloftheschooldistrict,andotherserviceswhichtheschooldistrictmaypurchase.

Thiscategoryaccountsforavarietyofotherexpensesincluding:specialeducationtuition,utilities,transportationcharges,rentals,aswellasoutgoingstudentenrollmentcharges.Typicalinflationarytrendsdrivecostsforthesekindsofexpensesandtheforecastassumesthiswillcontinuetobethecase.However,theDistrictcontinuestosearchforwaystobendthetrendfortheseitemsbyprioritizingenergysavingsmeasurers,insuringfacilitiesandequipmentareingoodrepairandfunctioningproperly,aswellasprovidingoptions“in‐house”toaccommodatethevariouslearningandeducationaldeliverymethodsavailabletostudents.

$4,697,234

$4,860,104

$4,804,312

$4,913,841

$4,952,105

$5,332,847

$5,589,775

$5,798,578

$6,015,302

$6,240,262

$0

$1,000,000

$2,000,000

$3,000,000

$4,000,000

$5,000,000

$6,000,000

$7,000,000

2014 2015 2016 2017 2018 2019 2020 2021 2022 2023

ActualProjected



3.040‐Supplies&Materials

FORECASTED2018 2019 2020 2021 2022 2023

Total 1,302,011 1,356,036 1,563,378 1,465,979 1,509,958 1,555,257YOY$Change 23,704 54,025 207,342 (97,399) 43,979 45,299YOY%Change 1.9% 4.1% 15.3% ‐6.2% 3.0% 3.0%


17

Expendituresforgeneralsupplies,instructionalmaterialsincludingtextbooksandmediamaterial,busfuelandtires,andallothermaintenancesupplies.

FY2017andFY2018includestheimpactofprovidingadditionalresourcestobuildinganddepartmentalbudgetallocations.SpendinginFY2019isexpectedtoendconsistenttotheprevioustwoyears.FY2020assumesasignificanttextbookadoptioninFY2020combinedwitha3%in lationarytrend.FY2021–FY2023re lectareturntotypicaltextpurchasesand3%in lationarytrendincreases.

$967,548

$1,020,600

$1,111,495

$1,278,307

$1,302,011

$1,356,036

$1,563,378

$1,465,979

$1,509,958

$1,555,257

$0

$200,000

$400,000

$600,000

$800,000

$1,000,000

$1,200,000

$1,400,000

$1,600,000

$1,800,000

2014 2015 2016 2017 2018 2019 2020 2021 2022 2023

ActualProjected



3.050‐CapitalOutlay

FORECASTED2018 2019 2020 2021 2022 2023

Total 546,654 100,000 100,000 100,000 100,000 100,000YOY$Change 234,429 (446,654) ‐ ‐ ‐ ‐YOY%Change 75.1% ‐81.7% 0.0% 0.0% 0.0% 0.0%


18

TheBoardapprovedaresolutioninAugustof2007toallocateaportionoftheDistrict’sinsidemillstoPermanentImprovementsbeginninginCalendaryear2008.InDecember2014,theBoardapprovedaCapitalSpendingplan,whichwasmuchmorecomprehensivethananythingpreviouslyinplace.Theplanisrevisitedannuallyandaddressesnotonlybusandfacilityneeds,butalsoeducational,safetyandtechnologypurchaseswithintheDistrict.

SincetheplanrequiresmorefundsthanthePermanentImprovementFundsuppliesonanannualbasis,aportionofcapitalspendingwasreturnedtotheGeneralFundbeginninginFY2015andthatcontinuedthroughFY2018.BeginninginFY2019,supplementsrequiredtofulfillthecapitalplanareplannedtobetransferredfromtheGeneralFundinsteadofspentfromthiscategory.The$100,000ofestimatedspendreflectedinthiscategoryafterFY2018isforpurchasesrequiredtomeetcareertechspendingobligations.

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

$0 $265,820

$260,925

$312,225

$546,654

$100,000

$100,000

$100,000

$100,000

$100,000

$0

$100,000

$200,000

$300,000

$400,000

$500,000

$600,000

2014 2015 2016 2017 2018 2019 2020 2021 2022 2023

ActualProjected



3.060‐4.060‐Intergovernmental&Debt

FORECASTED2018 2019 2020 2021 2022 2023

Total ‐ ‐ ‐ ‐ ‐ ‐YOY$Change ‐ ‐ ‐ ‐ ‐ ‐YOY%Change 0.0% 0.0% 0.0% 0.0% 0.0% 0.0%


19

Theselinesaccountforpassthroughpayments,aswellasmoniesreceivedbyadistrictonbehalfofanothergovernmentalentity,plusprincipalandinterestpaymentsforgeneralfundborrowing.

N/A

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

$0

$0

$0

$0

$0

$1

$1

$1

$1$1

$1

2014 2015 2016 2017 2018 2019 2020 2021 2022 2023

ActualProjected



4.300‐OtherObjects

FORECASTED2018 2019 2020 2021 2022 2023

Total 417,849 406,397 474,200 450,168 481,575 493,438YOY$Change (3,949) (11,452) 67,803 (24,032) 31,407 11,863YOY%Change ‐0.9% ‐2.7% 16.7% ‐5.1% 7.0% 2.5%


20

Mostthiscategory’sexpensesarerelatedtofeespassedalongbyothergovernmentalagenciesforthecollectionanddistributionoftaxrelatedrevenue.Estimatesfortheseexpensesareimpactedbythetimingandpaymentsrequiredatthecountylevelleadinguptopropertyreappraisals.

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

$391,741

$286,625

$364,286

$421,798

$417,849

$406,397

$474,200

$450,168

$481,575

$493,438

$0

$100,000

$200,000

$300,000

$400,000

$500,000

$600,000

2014 2015 2016 2017 2018 2019 2020 2021 2022 2023

ActualProjected



5.040‐TotalOtherFinancingUses

FORECASTED

2018 2019 2020 2021 2022 2023

Total 8,495 2,423,818 1,606,552 1,275,552 1,111,552 340,552YOY$Change 8,495 2,415,323 (817,266) (331,000) (164,000) (771,000)YOY%Change 0.0% 28433.9% ‐33.7% ‐20.6% ‐12.9% ‐69.4%


TransfersOut ‐ 2,408,818 1,591,552 1,260,552 1,096,552 325,552AdvancesOut 8,495 15,000 15,000 15,000 15,000 15,000

21

Operatingtransfers‐out,advancesouttootherfunds,andallothergeneralfundfinancinguses.

Theuptickinexpensesreflectedin2016isrelatedtoatransferof$400,000totheDistrict'sPIfundtosupplementa$1,993,206energyconservationproject.TheremainderoftheprojectwasfundedwithsavingsgeneratedfromrefinancingtheDistrict'soutstanding2005bonds.Theenergysavingsachievedfromtheprojectsinceitscompletionareon‐tracktoberepaytheinitialcapitaloutlayin8years.

BeginninginFY2019,thiscategoryalsoreflectstheGeneralFund’scommitmenttobridgeanyfundingshortfallnecessarytoaccomplishtheadoptedCapitalSpendingplan(theDistrict’sPermanentImprovementFundorMaintenanceSet‐AsideFundareusedfirst).However,thisspendingplancanbescaledbackiffinancesdeterioratebetweennowandthestartofagivencapitalproject.

Outsideoftheselimitedpurposes,advancesandtransfersareusedsparinglyandonlywhenotherspendingcategoriesdonotappropriatelycapturetheessenceofatransaction.Nominalotheractivityisexpected.

$32,681

$6,642

$400,000

$0 $8,495

$2,423,818

$1,606,552

$1,275,552

$1,111,552

$340,552

$0

$500,000

$1,000,000

$1,500,000

$2,000,000

$2,500,000

$3,000,000

2014 2015 2016 2017 2018 2019 2020 2021 2022 2023

ActualProjected


TEAYSVALLEYLOCALSCHOOLDISTRICT‐‐PICKAWAYCOUNTYFiveYearForecast

Actual FORECASTEDFiscalYear: 2018 2019 2020 2021 2022 2023

Revenue:1.010‐GeneralPropertyTax(RealEstate) 8,617,845 8,550,502 8,593,653 8,865,144 9,070,686 9,171,2721.020‐PublicUtilityPersonalProperty 1,085,921 2,287,003 3,447,274 3,394,249 3,326,149 3,258,0491.030‐IncomeTax 7,197,063 7,497,983 7,681,498 7,867,335 8,054,865 8,243,3321.035‐UnrestrictedGrants‐in‐Aid 20,255,115 21,228,645 19,779,737 22,014,630 22,013,909 22,013,3291.040‐RestrictedGrants‐in‐Aid 408,791 430,573 416,091 419,342 421,638 424,2541.050‐PropertyTaxAllocation 1,135,331 1,166,803 1,186,611 1,221,072 1,255,613 1,271,7591.060‐AllOtherOperatingRevenues 2,005,645 1,972,272 1,916,622 1,952,168 1,988,309 2,025,056

1.070‐TotalRevenue 40,705,712 43,133,781 43,021,486 45,733,940 46,131,169 46,407,051OtherFinancingSources:2.010‐ProceedsfromSaleofNotes ‐ ‐ ‐ ‐ ‐ ‐2.020‐StateEmergencyLoansandAdv ‐ ‐ ‐ ‐ ‐ ‐2.040‐OperatingTransfers‐In ‐ ‐ ‐ ‐ ‐ ‐2.050‐Advances‐In ‐ ‐ ‐ ‐ ‐ ‐2.060‐AllOtherFinancingSources 88,712 105,288 18,000 18,000 18,000 18,0002.070‐TotalOtherFinancingSources 88,712 105,288 18,000 18,000 18,000 18,000

2.080‐TotalRev&OtherSources 40,794,424 43,239,069 43,039,486 45,751,940 46,149,169 46,425,051Expenditures:3.010‐PersonnelServices 22,383,334 23,676,636 25,130,804 26,261,305 27,256,273 28,302,9903.020‐EmployeeBenefits 7,503,283 8,924,100 9,642,688 10,356,606 11,092,332 11,898,388

3.030‐PurchasedServices 4,952,105 5,332,847 5,589,775 5,798,578 6,015,302 6,240,262

3.040‐SuppliesandMaterials 1,302,011 1,356,036 1,563,378 1,465,979 1,509,958 1,555,257

3.050‐CapitalOutlay 546,654 100,000 100,000 100,000 100,000 100,000

Intergovernmental&DebtService ‐ ‐ ‐ ‐ ‐ ‐

4.300‐OtherObjects 417,849 406,397 474,200 450,168 481,575 493,438

4.500‐TotalExpenditures 37,105,237 39,796,016 42,500,845 44,432,636 46,455,440 48,590,335OtherFinancingUses5.010‐OperatingTransfers‐Out ‐ 2,408,818 1,591,552 1,260,552 1,096,552 325,5525.020‐Advances‐Out 8,495 15,000 15,000 15,000 15,000 15,0005.030‐AllOtherFinancingUses ‐ ‐ ‐ ‐ ‐ ‐5.040‐TotalOtherFinancingUses 8,495 2,423,818 1,606,552 1,275,552 1,111,552 340,552

5.050‐TotalExpandOtherFinancingUses 37,113,731 42,219,834 44,107,397 45,708,188 47,566,992 48,930,887

6.010‐ExcessofRevOver/(Under)Exp 3,680,692 1,019,235 (1,067,911) 43,752 (1,417,823) (2,505,836)

7.010‐CashBalanceJuly1(NoLevies) 18,277,731 21,958,423 22,977,658 21,909,747 21,953,499 20,535,6767.020‐CashBalanceJune30(NoLevies) 21,958,423 22,977,658 21,909,747 21,953,499 20,535,676 18,029,840

Reservations8.010‐EstimatedEncumbrancesJune30 1,073,519 500,000 500,000 500,000 500,000 500,0009.080‐ReservationsSubtotal ‐ ‐ ‐ ‐ ‐ ‐

10.010‐FundBalJune30forCertofApp 20,884,905 22,477,658 21,409,747 21,453,499 20,035,676 17,529,840RevfromReplacement/RenewalLevies11.010&11.020‐RenewalLevies ‐ ‐ ‐ ‐ ‐11.030‐CumulativeBalanceofLevies ‐ ‐ ‐ ‐ ‐ ‐

12.010‐FundBalJune30forCertofObligations 20,884,905 22,477,658 21,409,747 21,453,499 20,035,676 17,529,840RevenuefromNewLevies13.010&13.020‐NewLevies ‐ ‐ ‐ ‐ ‐13.030‐CumulativeBalanceofNewLevies ‐ ‐ ‐ ‐ ‐ ‐

15.010‐UnreservedFundBalanceJune30 20,884,905 22,477,658 21,409,747 21,453,499 20,035,676 17,529,840

22


Supplement1‐ForecastCompare TEAYSVALLEYLOCALSCHOOLDISTRICT‐‐PICKAWAYCOUNTY

23

Obviously,annualchangesmadetoforecastcanhaveanimpactthatcarriesforwardintofutureyearsora“cumulative”impact.**Sincelastfiling,afewofthemorenotableadjustmentstotheforecastinclude:

Revenue:Line1.03PubUtility‐Reflectstheimpactof2018PUPPvaluationincrease.Localcollectionsareanticipatedtoincreasebymorethan$2.5millionannually,butthebenefitisexpectedtobepartiallyoffsetbyalossofstateaid.

Line1.03IncomeTax:ThecumulativeimpactofthehigherthananticipatedfirstthreequarterlyschoolincometaxdistributionsreceivedFY2019.

Line1.035State–Alossinfuturestateaidduetothehigher2018PUPPvalues.Higherlocalvalueswilldrivedownfuturestatesharepercentagesassumingacontinuationofthecurrentfundingformula.

Expenditures:Line3.01Salariesand3.02Fringes–Includestheimpactofnew3‐yearbargainingagreementbetweenBoardandTVEAcoveringFY2020‐FY2022.

Line3.03PurchasedService:OutgoingopenenrollmentandESCchargesareslightlyhigherthanoriginalestimates.

CurrentFiveYearForecastChangetoNetOperatingRevenue(Line6.01)ComparedtoLastFiledForecastLastFiledForecastDate:10/01/2018

FY2018 FY2019 FY2020 FY2021 FY2022 FY2023

Revenue 0 1,728,487 418,631 1,885,695 1,196,209 425,755

Expenditures 0 188,261 730,781 755,365 781,093 807,976

Net Annual Change 0 1,540,226 (312,150) 1,130,330 415,116 (382,221)

As % of Budget 0.0% 3.6% ‐0.7% 2.5% 0.9% ‐0.8%

5‐YearCumulativeChangeFY2019‐2023

5YrCumulative 5YrCumulative

Revenue Change Expenditure Change

1.01 Real Estate 58,038 3.01 Salaries 739,818

1.02 Pub Utility 10,469,969 3.02 Benefits 239,057

1.03 Income Tax 935,406 3.03 Purchased Serv. 1,865,286

1.035,1.040 State (5,620,699) 3.04 Supplies 397,557

1.05 Prop Tax Alloc. 47,220 3.05 Capital ‐

1.060 All Other (247,445) 4.3 Other Exp 21,758

2.xx Other Sources 12,288 Intergov + Debt + Other ‐

Cumulative Revenue Change 5,654,777 Cumulative Expenditure Change 3,263,476

NetCumulativeFive‐YearChange $2,391,301 FavorableNetCumulativeCashChangeas%ofBudget 1.05%

NetCumulativeChangeinLevyReservation $0

Note:NetCumulativeFive‐YearChangeW/RenewalLevyReservationVariance $2,391,301

‐

1,540,226

(312,150)

1,130,330

415,116

(382,221)

Current Net Annual Revenue & Expenditure Changes Compared to Last Filed Forecast


Supplement2‐CashReserveIndicators TEAYSVALLEYLOCALSCHOOLDISTRICT‐‐PICKAWAYCOUNTY

24

DespitetheminimalrevenuesurplusprojectedforFY2021,theDistrict’scashreservesareanticipatedtoremaincomfortablyabovestandardbenchmarkmeasures.ThebreakevenresultprojectedforFY2021signalsacontinuedneedtoproperlyplantoavoidalesssustainabledownwardtrend.Fortunately,TeaysValleyhastheabilitytomodifyspendingdedicatedtocapitalprojectsiftheneedbecomespressingpriortoconsideringmoredrasticoperationalcuts.


Supplement3‐Enrollment TEAYSVALLEYLOCALSCHOOLDISTRICT‐‐PICKAWAYCOUNTY

25

HeadCountSummary/Analysis TEAYSVALLEYLOCALSCHOOLDISTRICT‐‐PICKAWAYCOUNTY

2019 2020 2021 2022 2023

PriorYearActual/EstimatedEnrollment(OctoberCount) 4,006 4,093 4,088 4,150 4,180

ProjectedChangestoPriorYearEnrollmentNetAll‐GradeLevelMobilityFactor(Change)toPriorYear 50 51 51 51 48

NewKindergartnersIn 310 259 286 265 275LossofSeniorsfromPriorYear ‐274 ‐314 ‐275 ‐286 ‐284

NetChangeinOutgoingandIncomingPupils 36 ‐55 11 ‐21 ‐9

CurrentYearEstimatedEnrollment(SimulatedOctoberCount) 4,093 4,088 4,150 4,180 4,219DistrictHeadCount Grade

K 310 259 286 265 2751 324 335 280 309 2862 273 329 340 284 3143 339 280 336 348 2914 339 347 286 344 3565 318 345 353 291 3506 340 332 360 368 3047 335 346 338 367 3758 283 338 349 340 3709 319 295 352 363 35410 304 303 280 334 34511 295 306 304 281 33612 314 275 286 284 263

TotalCanDifferbyRounding 4,093 4,088 4,150 4,180 4,219Year‐Over‐YearPercentageChange 2.16% ‐0.11% 1.51% 0.73% 0.94%

20073,490

2008 2009 2010 2011 2012 2013 2014 2015 20163,580 3,600 3,659 3,684 3,733 3,757 3,786 3,872 3,9832017 2018 2019P 2020P 2021P 2022P 2023P3,935 4,006 4,093 4,088 4,150 4,180 4,219

HistoricChange 0.8% 2.3% 2.9% ‐1.2% 1.8%

ProjectedChange 2.16% ‐0.11% 1.51% 0.73% 0.94%

3,490

4,0064,219

0

500

1,000

1,500

2,000

2,500

3,000

3,500

4,000

4,500

2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019P 2020P 2021P 2022P 2023P

Historicvs.ProjectedEnrollment


Supplement4‐PotentialFSFPStateFundingImpact TEAYSVALLEYLOCALSCHOOLDISTRICT‐‐PICKAWAYCOUNTY

26

ThetwographsabovedemonstratetheimpactoftheadditioalPUPPvalues.

1.TheBlueLine=CurrentForecast‐Spring2019Filing

2.TheGreenLine=CURRENTForecastIncludingPotentialImpactofCupp/PattersonFSFP

ImpactofCupp/PattersonFairSchoolFundingPlan

Fiscal 2019 Fiscal 2020 Fiscal 2021 Fiscal 2022 Fiscal 2023

Current 1,019,235 (1,067,911) 43,752 (1,417,823) (2,505,836)

Cupp/Patterson FSFP 1,019,235 219,893 1,716,541 255,687 (831,746)

‐$3,000,000

‐$2,500,000

‐$2,000,000

‐$1,500,000

‐$1,000,000

‐$500,000

$0

$500,000

$1,000,000

$1,500,000

$2,000,000

General Fund Revenue Over/Under Expenditures

Fiscal 2019 Fiscal 2020 Fiscal 2021 Fiscal 2022 Fiscal 2023

Current 22,977,658 21,909,747 21,953,499 20,535,676 18,029,840

Cupp/Patterson FSFP 22,977,658 23,197,551 24,914,092 25,169,779 24,338,033

$0

$5,000,000

$10,000,000

$15,000,000

$20,000,000

$25,000,000

$30,000,000

General Fund Cash Balance Projection


Documents

Five Year Forecast Financial Report · Supplement 4 ‐ FSFP School Funding Proposal Potential Impact 26 Ohio Department of Education's purposes/objectives for the five‐year forecast