Cleveland Municipal School District 1 F I V E Y E A R F I N A N - PowerPoint PPT Presentation

Cleveland Municipal School District 1 F I V E Y E A R F I N A N CI A L F O R E CA ST O C T O B E R 2 0 12 O C T O B E R 2 0 12 The primary goal of the Cleveland Municipal School District is to become a premier school district in the United States of America.

Five Year Forecast - Contents 2 � Major Assumptions � � General Fund Revenues � General Fund Revenues � General Fund Expenditures � � Five Year Forecast Summary �

Cleveland Municipal School District 3 � Major Assumptions � Major Assumptions

Major Assumptions 4 Revenue: � Forecast assumes no new levy revenue. � � Forecast assumes that the property tax current collection rate will remain at � 78.87%. Current economic conditions continue to have a significant impact on tax collection rates. � In 2012 Cuyahoga County will complete the six year reappraisal of all property. � The impact on the District should be minimal. The impact on the District should be minimal. � Projections are based on the bridge formula to determine state funding in all � years. � Forecast assumes the Average Daily Membership for K-12 to be: � FY13 – 38,182 FY14 – 36,615 FY 15 – 35,117 FY16 – 34,095 FY 17 – 33,233 � Forecast assumes that Charter School ADM will increase by 70% of CMSD � decrease.

Major Assumptions continued 5 Expenditures : � Forecast assumes a total of 2,591 classroom teachers in FY13 (2,300 are � budgeted within the General Fund). � Forecast assumes 50 less employees each year in FY14-17 due to attrition. � � Forecast shifted $4.3 million of personnel costs to the General Fund in FY13 � due to a decline in Title I funding. due to a decline in Title I funding. � Forecast shifts $2.0 million of personnel cost to the General Fund in FY14 due � to a decline in federal funding. � Healthcare rates are forecasted to increase 7.7% in FY13 and 9.7% in FY14-16. � � Forecast assumes all union agreements as currently defined including step � increases. � Forecast assumes a $3.2 textbook budget for all fiscal years. � � $13.1 million of adjustments are necessary to balance the budget for the 2012 – � 2013 school year.

Cleveland Municipal School District 6 � General Fund Revenues � General Fund Revenues

Cleveland Municipal School District FY 2012-2013 7 W here the M oney Comes From State, 67.7% State of Ohio Reimbursemen ts, 4.3% Other, 4.3% Local Taxes, 23.7%

General Fund Revenue Decline 8 675.0 668.2 662.7 655.0 654.2 $51.5 635.0 million 615.0 611.2 595.0 575.0 575.0 564.4 562.2 555.0 537.2 535.0 $83.6 515.0 million 495.0 480.8 475.0 2010 2011 2012 2013* Total Revenue Total Revenue Excluding Charter *Projected

Cleveland Municipal School District Local Taxes – Property Tax Revenue 9 175.0 150.0 4.3 1.0 0.3 1.0 125.0 I n M illions) 100.0 Revenue (I n M i 75.0 148.1 147.1 144.1 144.0 144.0 144.0 144.0 144.0 50.0 25.0 0.0 2010 2011 2012 2013 2014 2015 2016 2017 Fiscal Year Real Estate Personal Tangible

Cleveland Municipal School District Property Taxes – Current Collection Rate 10 99.0 98.6 98.0 97.0 96.0 95.0 94.0 93.0 ection Rate 92.0 91.0 90.0 89.0 88.0 Current Collec 87.0 87.0 86.0 85.0 84.0 83.0 80.9 82.0 81.0 78.9 80.0 79.0 78.0 77.0 76.0 75.0 1991 2001 2011 1987 1997 2007 1989 1992 1993 1994 1995 1996 1999 2002 2003 2004 2005 2006 2009 1988 1990 1998 2000 2008 2010 Year

Cleveland Municipal School District Property Taxes – Total Collection Rate 11 107.00 105.00 103.00 101.00 1.3 99.00 ection Rate 97.00 95.00 93.00 91.00 91.00 Current Collec 89.00 98.6 87.00 85.00 83.00 6.5 81.00 79.00 78.9 77.00 75.00 1991 2001 2011 1987 2007 1989 1992 1993 1994 1995 1996 1997 1999 2002 2003 2004 2005 2006 2009 1988 1990 1998 2000 2008 2010 Current Collection Rate Delinquencies Year

Cleveland Municipal School District State Foundation Revenue 12 $440 $435 I n M illions) $430 27.3 $425 34.1 34.1 Revenue (I n $420 $415 421.4 $410 413.9 411.3 411.2 408.0 $405 405.8 404.5 403.9 $400 2010 2011 2012 2013 2014 2015 2016 2017 Fiscal Year State Foundation Fiscal Stabilization Fund

Cleveland Municipal School District State Foundation Revenue – Excluding Charter School Portion 13 $340 27.3 $330 I n M illions) 34.1 $320 $310 $300 Revenue (I n $290 313.0 $280 304.4 298.5 $270 283.4 271.6 $260 260.9 253.6 $250 247.4 $240 2010 2011 2012 2013 2014 2015 2016 2017 Fiscal Year State Foundation Fiscal Stabilization Fund

Cleveland Municipal School District Education Jobs 14 $20 I n M illions) $15 Revenue (I n M i $10 17.7 $5 $0 2010 2011 2012 2013 2014 2015 2016 2017 Fiscal Year Education Jobs

Cleveland Municipal School District Property Tax Allocation – State Hold Harmless Reimbursements 15 $60 I n M illions) $50 $40 39.8 38.6 $30 $30 Revenue (I n 26.9 26.9 13.9 13.9 13.9 13.9 13.9 $20 4.5 4.4 $10 12.4 12.4 12.3 12.2 12.2 12.2 12.2 12.2 $0 2010 2011 2012 2013 2014 2015 2016 2017 Fiscal Year Property Tax Reimbursements Utility Tax Reimbursements HB 66 CAT Reimbursements

Cleveland Municipal School District Other Revenue 16 3.5 $30 1.8 1.4 0.6 I n M illions) 4.0 4.0 4.0 4.0 $25 6.2 1.7 0.4 1.0 1.0 1.2 1.9 1.1 0.4 0.4 2.1 1.3 0.4 $20 0.4 2.5 Revenue (I n 1.7 1.7 $15 $15 24.4 2.4 20.7 20.7 20.6 20.3 18.3 18.2 $10 10.6 $5 $0 2010 2011 2012 2013 2014 2015 2016 2017 Fiscal Year Other Interest Catastrophic Aid Medicaid Advance In

Cleveland Municipal School District Total Revenue – Excluding Charter School Portion 17 $600 17.2 23.9 31.7 55.5 56.6 39.2 I n M illions) $500 26.2 17.7 25.9 26.1 26.1 26.1 26.1 26.1 26.1 26.1 26.1 $400 340.3 340.3 332.6 332.6 Revenue (I n 304.4 304.4 283.4 271.6 $300 260.9 253.6 247.4 $200 $100 151.4 149.1 144.4 145.0 144.1 144.1 144.1 144.1 $0 2010 2011 2012 2013 2014 2015 2016 2017 Fiscal Year Property Tax State Foundation Ed Jobs State Reimbursement Other

Cleveland Municipal School District 18 � General Fund Expenditures � General Fund Expenditures

Cleveland Municipal School District Where the Money Goes 19 FY 2012-2013 All Other $118,262,885 18.4% Charter School Salaries & Pass-Through Benefits, $393, $130,500,000 133,569, 61.3% 20.3%

Cleveland Municipal School District Salaries 20 $370 s (I n M illions) $350 $330 Expenditures ( $310 $310 359.3 $290 312.7 309.3 289.0 288.5 287.8 286.8 $270 276.3 $250 2010 2011 2012 2013 2014 2015 2016 2017 Fiscal Year Salaries

Cleveland Municipal School District Fringe Benefits 21 $140 3.9 4.4 4.5 s (I n M illions) 3.9 3.5 4.4 6.2 3.9 6.6 7.3 4.4 7.8 8.4 $120 4.4 3.9 11.2 4.4 5.2 4.5 3.9 3.9 4.0 4.4 3.7 $100 80.9 60.7 74.1 67.8 54.9 54.9 $80 $80 57.7 57.7 62.0 62.0 Expenditures ( 56.5 56.5 $60 $40 50.2 47.9 44.7 42.6 42.8 42.7 42.6 41.0 $20 $0 2010 2011 2012 2013 2014 2015 2016 2017 Fiscal Year STRS/ SERS Employee Insurance Benefits Medicare Workers Compensation Other

Cleveland Municipal School District Purchased Services 22 $300 s (I n M illions) $250 $200 156.5 152.2 147.1 139.6 130.5 Expenditures ( $150 $150 117.0 117.0 98.3 98.3 106.0 $100 71.7 70.0 70.8 69.0 69.3 63.4 57.7 56.5 $50 9.3 11.4 7.8 10.8 11.0 11.2 11.4 10.3 15.1 14.2 13.4 13.6 12.0 12.8 13.0 13.2 $0 2010 2011 2012 2013 2014 2015 2016 2017 Fiscal Year Utilities Student Transportation (Contract) Other Purchased Services Charter School Pass-Through

Cleveland Municipal School District Supplies, Textbooks, Equipment, and Other Expenditures 23 30.0 res (I n M illions) 7.7 25.0 11.5 7.0 7.0 7.0 7.0 7.0 4.2 20.0 7.8 7.8 7.7 7.7 7.8 7.4 7.4 7.5 7.5 7.3 7.3 6.5 6.5 Expenditure 8.3 8.3 15.0 15.0 1.3 1.3 0.7 0.7 0.7 0.7 0.7 1.0 0.8 10.0 12.6 10.6 10.6 10.6 10.6 10.6 10.0 9.0 5.0 0.0 2010 2011 2012 2013 2014 2015 2016 2017 Fiscal Year Supplies and Textbooks Equipment Other Expense Transfers/ Advances

Cleveland Municipal School District Total Expenditures– Excluding Charter School Portion 24 15.5 12.6 600.0 19.8 14.3 res (I n M illions) 14.8 10.7 14.5 14.7 14.4 87.8 10.6 10.6 9.0 10.0 10.6 10.6 10.6 500.0 78.4 96.7 80.0 95.6 94.4 93.3 92.6 125.3 400.0 119.8 119.3 135.7 125.1 129.6 120.2 116.8 Expenditure 300.0 300.0 359.3 200.0 312.7 309.3 289.0 288.5 287.8 286.8 276.3 100.0 0.0 2010 2011 2012 2013 2014 2015 2016 2017 Fiscal Year Wages Benefits Purchased Services Supplies and Materials Capital Outlay Other

Cleveland Municipal School District 25 � Five-Year Forecast Summary � Five-Year Forecast Summary