MAY FIVE-YEAR FORECAST MAY 20, 2019 Fiscal Year Fiscal Year - PowerPoint PPT Presentation

MAY FIVE-YEAR FORECAST MAY 20, 2019

Fiscal Year Fiscal Year Fiscal Year Fiscal Year Fiscal Year MAY 2019 2020 2021 2022 2023 Beginning Balance 4,124,459 3,776,442 5,511,308 7,660,432 8,717,728 + Revenue 28,621,771 32,219,343 33,945,811 34,404,742 35,072,121 + Proposed Renew/Replacement Levies - - - - - + Proposed New Levies - - - - - - Expenditures (28,969,788) (30,484,477) (31,796,687) (33,347,446) (34,991,465) = Revenue Surplus or Deficit (348,017) 1,734,866 2,149,124 1,057,296 80,656 Ending Balance 3,776,442 5,511,308 7,660,432 8,717,728 8,798,384 Fiscal Year Fiscal Year Fiscal Year Fiscal Year Fiscal Year OCTOBER 2019 2020 2021 2022 2023 Beginning Balance 4,124,459 3,586,066 3,160,482 1,723,393 (604,491) Surplus status and + Revenue 28,693,328 29,526,521 29,886,672 30,400,537 30,864,534 positive ending cash + Proposed Renew/Replacement Levies - - - - - balance through FY2023 + Proposed New Levies - - - - - due to the passage of the - Expenditures (29,231,721) (29,952,105) (31,323,761) (32,728,421) (34,217,679) income tax = Revenue Surplus or Deficit (538,393) (425,584) (1,437,089) (2,327,884) (3,353,145) Ending Balance 3,586,066 3,160,482 1,723,393 (604,491) (3,957,636) GRANVILLE EXEMPTED VILLAGE SCHOOLS

Inside millage swap, property tax refund, late commercial payment GRANVILLE EXEMPTED VILLAGE SCHOOLS

Monthly Cash Flow Projected Monthly Cash Flow Cash Balance Benchmark $ 2,858,141 $12,000,000 Cash balance is expected to $10,000,000 be above the cash balance benchmark through all of $8,000,000 FY2020 $6,000,000 $4,000,000 $2,000,000 $0 7.020 - Ending Cash Balance Cash Balance Benchmark 2019 2020 GRANVILLE EXEMPTED VILLAGE SCHOOLS

Granville Exempted Village Schools 5

Expenditures Granville Exempted Village Schools 6

Expenditures Prev. 5-Year PROJECTED 5-Year Avg. Annual Fiscal Year Fiscal Year Fiscal Year Fiscal Year Fiscal Year Avg. Annual Change 2019 2020 2021 2022 2023 Change Expenditures: 3.010-Salaries 3.93% -0.02% 4.56% 3.10% 3.75% 3.50% 2.98% 3.020-Benefits 7.60% -6.21% 7.12% 6.30% 7.76% 8.06% 4.61% 3.030-Purchased Services 6.79% 4.48% 6.36% 5.46% 4.94% 5.45% 5.34% 3.040-Supplies & Materials 3.24% 0.24% 2.06% 2.90% 2.92% 2.94% 2.21% 3.050-Capital Outlay -18.91% 39.63% 149.99% 0.00% 0.00% 0.00% 37.92% 3.060-Intergov n/a n/a n/a n/a n/a n/a n/a 4.010-4.060-Debt 12.18% -63.01% -2.27% -2.48% -1.62% -2.47% -14.37% 4.300-Other Objects -1.66% -16.02% 17.91% 8.80% 1.65% 1.57% 2.78% 4.500-Total Expenditures 5.09% -1.96% 5.57% 4.31% 4.88% 4.93% 3.54% 5.040-Total Other Uses 766.38% -60.19% -90.30% 0.00% 0.00% 0.00% -30.10% 5.050-Total w/Other Uses 5.27% -2.47% 5.23% 4.30% 4.88% 4.93% 3.37% Impact of the RIF and other personnel actions and the restructuring of health insurance. The biggest cost pressures in 2020-2022 are from benefits (health insurance) and purchased services (mandatory spending to meet student needs). Granville Exempted Village Schools 7

Expenditures • For 2019/20 personnel changes: • Add two aides back into the GIS and GMS libraries and study long-term uses • Adding two teachers to address enrollment growth • Reconfigured GHS Art to bring fully into the district to generate additional state revenue • One front office aide to address HB 410 and student safety • No reinstatement of district communications position, GES/GIS Assistant Principal, or librarians for the 2019/20 school year 8

Revenue Granville Exempted Village Schools 9

Local Revenue • No major changes in the property tax base assumptions • Impact of moving 2.75 inside mills from operating to PI is now reflected in the budget • The new income tax is now included the forecast • The forecast assumes that pay-to-participate is eliminated for the 2019/20 school year and the GHS activity fee is increased from $75 to $100 10

State Aid • State aid at this point of the budget process is in flux • The House passed version of the budget adds some money to Granville but there is no actual formula so if we continue to add students we would get no additional revenue • The Cupp-Patterson work is ongoing and will likely end up in a separate stand-alone bill, although there is a small possibility it could work its way into the Senate or Conference Committee versions of the budget • We do not have a clear indication at this point of what the Senate may do • The forecast assumes a continuation of the current formula 11