State law requires all public schools to file a  Five-Year Financial Forecast  with the Ohio Department of Education twice a year in November and May.
We have updated this information in June to reflect the reduction of the district’s State Foundation funding due to COVID-19 by approximately $400,000 this fiscal year, emphasizing the need for an upcoming levy.
The forecast requires districts to evaluate their General Fund for potential long-term outcomes when making current decisions about new initiatives and funding existing programs and services over multiple years. The multi-year budgeting process lends itself to meeting both short and long-term goals while maintaining financial solvency.
The General Fund is the largest district fund. The General Fund is primarily unrestricted and used for the day-to-day operation of the school district.
The primary purpose of the forecast:
  • It is a planning tool for the district’s Board of Education and administration to use to identify and prepare for future funding issues of the district in support of its mission and vision.
  • It is a key tool in meeting the district’s priority to respect the investment of taxpayers by providing responsible management of resources as we continue our commitment to student success.
  • To serve as a basis for determining the Treasurer’s ability to certify that funds are available when entering into contracts.
  • To provide a method for the Ohio Department of Education and the Auditor of State to identify districts headed toward financial difficulties.
  • To identify future years’ deficits to allow districts to engage in planning for those conditions prior to their arrival and eliminating a projected shortfall.
Due to the uncertainties and changing nature of school finance and economic factors, this forecast is fluid and subject to change.