| Columbus Grove Five Year Forecast for Fiscal Year 2010 | |||||||||
|---|---|---|---|---|---|---|---|---|---|
| District Type: Local | |||||||||
| IRN: 049312 | |||||||||
| County: Putnam | |||||||||
| Date Submitted: 12/10/2009 Date Processed: 12/11/2009 | |||||||||
| Actual | Forecasted | ||||||||
| Line | 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | |
| 1.010 General Property (Real Estate) | 1,306,759 | 1,314,809 | 1,353,792 | 1,365,000 | 1,365,000 | 1,400,000 | 1,400,000 | 1,400,000 | |
| 1.020 Tangible Personal Property Tax | 146,156 | 126,635 | 108,955 | 80,000 | |||||
| 1.030 Income Tax | 659,745 | 720,310 | 734,638 | 677,000 | 833,000 | 833,000 | 833,000 | 833,000 | |
| 1.035 Unrestricted Grants-in-Aid | 4,106,708 | 4,410,107 | 4,522,422 | 4,210,000 | 4,210,000 | 4,500,000 | 4,500,000 | 4,500,000 | |
| 1.040 Restricted Grants-in-Aid | 46,007 | 30,967 | 29,543 | 40,000 | 42,000 | 44,000 | 46,000 | 46,000 | |
| 1.045 Restricted Federal Grants-in-Aid - SFSF | 290,000 | 290,000 | |||||||
| 1.050 Property Tax Allocation | 246,166 | 272,382 | 311,518 | 283,000 | 283,000 | 300,000 | 300,000 | 300,000 | |
| 1.060 All Other Operating Revenue | 514,809 | 516,074 | 360,613 | 525,000 | 525,000 | 530,000 | 530,000 | 530,000 | |
| 1.070 Total Revenue | 7,026,350 | 7,391,284 | 7,421,481 | 7,470,000 | 7,548,000 | 7,607,000 | 7,609,000 | 7,609,000 | |
| 2.050 Advances-In | 23,000 | 40,000 | 24,250 | ||||||
| 2.060 All Other Financial Sources | 185 | 320 | |||||||
| 2.070 Total Other Financing Sources | 23,185 | 40,000 | 24,570 | ||||||
| 2.080 Total Revenues and Other Financing Sources | 7,049,535 | 7,431,284 | 7,446,051 | 7,470,000 | 7,548,000 | 7,607,000 | 7,609,000 | 7,609,000 | |
| 3.010 Personnel Services | 3,713,983 | 3,916,721 | 4,036,991 | 4,320,000 | 4,493,000 | 4,673,000 | 4,860,000 | 5,054,000 | |
| 3.020 Employees' Retirement/Insurance Benefits | 1,275,270 | 1,367,668 | 1,439,181 | 1,479,000 | 1,538,000 | 1,600,000 | 1,664,000 | 1,730,000 | |
| 3.030 Purchased Services | 893,739 | 1,092,372 | 1,066,118 | 969,000 | 988,000 | 1,008,000 | 1,028,000 | 1,050,000 | |
| 3.040 Supplies and Materials | 360,614 | 312,326 | 277,506 | 325,000 | 332,000 | 339,000 | 346,000 | 352,000 | |
| 3.050 Capital Outlay | 136,352 | 289,118 | 803,182 | 150,000 | 150,000 | 150,000 | 150,000 | 150,000 | |
| 4.300 Other Objects | 57,512 | 109,537 | 79,462 | 72,000 | 74,000 | 76,000 | 78,000 | 80,000 | |
| 4.500 Total Expenditures | 6,437,470 | 7,087,742 | 7,702,440 | 7,315,000 | 7,575,000 | 7,846,000 | 8,126,000 | 8,416,000 | |
| 5.010 Operational Transfers - Out | 52,000 | 208,000 | 208,000 | 208,000 | 208,000 | ||||
| 5.020 Advances - Out | 23,000 | 40,000 | 24,250 | ||||||
| 5.030 All Other Financing Uses | 982 | ||||||||
| 5.040 Total Other Financing Uses | 23,000 | 40,000 | 25,232 | 52,000 | 208,000 | 208,000 | 208,000 | 208,000 | |
| 5.050 Total Expenditure and Other Financing Uses | 6,460,470 | 7,127,742 | 7,727,672 | 7,367,000 | 7,783,000 | 8,054,000 | 8,334,000 | 8,624,000 | |
| 6.010 Excess Rev & Oth Financing Sources over(under) Exp & Oth Financing | 589,065 | 303,542 | (281,621) | 103,000 | (235,000) | (447,000) | (725,000) | (1,015,000) | |
| 7.010 Beginning Cash Balance | 3,213,721 | 3,802,786 | 4,106,328 | 3,824,707 | 3,927,707 | 3,692,707 | 3,245,707 | 2,520,707 | |
| 7.020 Ending Cash Balance | 3,802,786 | 4,106,328 | 3,824,707 | 3,927,707 | 3,692,707 | 3,245,707 | 2,520,707 | 1,505,707 | |
| 8.010 Outstanding Encumbrances | 178,675 | 53,541 | 153,798 | ||||||
| 10.010 Fund Balance June 30 for Certification of Appropriations | 3,624,111 | 4,052,787 | 3,670,909 | 3,927,707 | 3,692,707 | 3,245,707 | 2,520,707 | 1,505,707 | |
| 12.010 Fund Bal June 30 for Cert of Contracts,Salary Sched,Oth Obligations | 3,624,111 | 4,052,787 | 3,670,909 | 3,927,707 | 3,692,707 | 3,245,707 | 2,520,707 | 1,505,707 | |
| 15.010 Unreserved Fund Balance June 30 | 3,624,111 | 4,052,787 | 3,670,909 | 3,927,707 | 3,692,707 | 3,245,707 | 2,520,707 | 1,505,707 | |
| Notes to the Five Year Forecast | |||||||||
| REAL ESTATE TAXES: | |||||||||
| --------------------------- | |||||||||
| PROPERTY VALUES ARE ESTABLISHED EACH YEAR BY THE COUNTY AUDITOR BASED | |||||||||
| ON NEW CONSTRUCTION AND COMPLETE OR UPDATED APPRAISAL VALUES IF | |||||||||
| APPLICABLE. | |||||||||
| PUTNAM COUNTY INFO: 2005 RE-EVALUATION, 2008 TRIENIAL UPDATE, | |||||||||
| 2011 RE-EVALUATION, 2014 TRIENIAL UPDATE. | |||||||||
| ALLEN COUNTY INFO: 2006 TRIENIAL UPDATE, 2009 RE-EVALUATION, 2012 | |||||||||
| TRIENIAL UPDATE, 2015 RE-EVALUATION. | |||||||||
| ASSESSED DISTRICT VALUATION (PUTNAM & ALLEN COMBINED) IS $83,596,130. | |||||||||
| GENERAL FUND MILLAGE IS 28 MILLS. | |||||||||
| MILLAGE IS ADJUSTED TO PRODUCE EFFECTIVE RATES THAT GENERALLY PRODUCE | |||||||||
| THE SAME LEVEL OF INCOME. INCREASES OR DECREASES IN INCOME WILL | |||||||||
| OCCUR BASED ON TRIENIAL UPDATES AND RE-EVALUATIONS. | |||||||||
| REVENUES ARE EXPECTED TO BE STABLE THROUGH 2014 BASED ON LIMITED | |||||||||
| RESIDENTIAL PROPERTY GROWTH IN THE AREA AND THE HIGHLY RURAL FARM | |||||||||
| ECOMONY WHEREBY LIMITED FARM LAND IS BEING CONVERTED TO OTHER USE. | |||||||||
| PROPERTY TAX REVENUE ESTIMATES ARE BASED ON HISTORICAL GROWTH PATTERNS, | |||||||||
| INCLUDING SCHEDULED UPDATES AND REAPPRIASALS, AND ARE SUBSTANTIATED BY | |||||||||
| INFORMATION PROVIDED FOR IN THE UPCOMMING FISCAL YEAR FROM THE COUNTY | |||||||||
| AUDITOR. | |||||||||
| PROPERTY TAX FIGURES ARE BASED ON HISTORICAL COLLECTION LEVELS. THE | |||||||||
| AMOUNTS DO NOT ANTICIPATE AUTOMATIC PASSAGE OF A REPLACEMENT OR RENEWAL | |||||||||
| LEVY. | |||||||||
| THAT MEANS THAT WHEN A LEVY IS SCHEDULED TO EXPIRE, THE ESIMATED PROPERTY | |||||||||
| TAX REVENUE HAS A CORRESPONDING DECLINE. | |||||||||
| ALTHOUGH NEW LEVIES MAY BE PROPOSED DURING THIS TIME PERIOD, NO NEW | |||||||||
| PROPERTY TAX LEVIES ARE INCLUDED IN THESE AMOUNTS. | |||||||||
| PERSONAL PROPERTY TAXES: | |||||||||
| ------------------------------------- | |||||||||
| ONLY SMALL TO LIGHT INDUSTRY EXISTS IN THE AREA. REVENUE IS DECLINING | |||||||||
| DUE TO THE PHASE OUT OF TANGIBLE PERSONAL PROPERTY TAX DUE TO THE STATE | |||||||||
| OF OHIO PHASE OUT AND ULTIMATE ELIMINATION OF SUCH TAX. ASSESSED | |||||||||
| DISTRICT VALUATION (PUTNAM & ALLEN COMBINED) IS $3,310,360. | |||||||||
| INCOME TAXES: | |||||||||
| --------------------- | |||||||||
| A FIVE YEAR, ¾% RENEWAL INCOME TAX LEVY WAS PASSED BY DISTRICT VOTERS | |||||||||
| EFFECTIVE JANUARY 1, 2011 AND EXPIRES DECEMBER 31, 2015. THE | |||||||||
| INCOME TAX LEVY IS CERTIFIED TO COLLECT APPROX. $600,000 ANNUALLY. | |||||||||
| A TWENTY THREE YEAR ¼% INCOME TAX LEVY WAS PASSED BY DISTRICT VOTERS | |||||||||
| EFFECTIVE JANUARY 1, 2010 AND EXPIRES DECEMBER 31, 2033. THE INCOME | |||||||||
| TAX LEVY IS CERTIFIED TO COLLECT APPROX. $200,000 ANNUALLY EACH YEAR. | |||||||||
| THE DISTRICT INTENDS TO ANNUALLY UTILIZE THESE PROCEEDS TO PAY 2009 | |||||||||
| BOND DEBT AND THEREBY REDUCE MILLAGE RELATED TO THIS DEBT. | |||||||||
| A FIVE YEAR, 3/4% RENEWAL INCOME TAX LEVY WAS PASSED BY DISTRICT VOTERS | |||||||||
| EFFECTIVE JANUARY 1, 2006 AND EXPIRES DECEMBER 31, 2010. THE INCOME | |||||||||
| TAX LEVY WAS CERTIFIED TO COLLECT APPROX. $600,000 ANNUALLY. | |||||||||
| A FIVE YEAR, 3/4% INCOME TAX LEVY WAS PASSED BY DISTRICT VOTERS EFFECTIVE | |||||||||
| JANUARY 1, 2001 AND EXPIRED DECEMBER 31, 2005. THE INCOME TAX LEVY WAS | |||||||||
| CERTIFIED TO COLLECT APPROX. $600,000 ANNUALLY. | |||||||||
| INCOME TAX REVENUES ARE EXPECTED TO FOLLOW ECONOMIC CONDITIONS REFLECTIVE | |||||||||
| OF THE AREA ECONOMY. THE LOCAL ECONOMY IS CURRENTLY EXPERIENCING | |||||||||
| RECESSIONARY PRESSURES WHICH INCLUDE LAYOFFS AND REDUCED WORK HOURS FOR | |||||||||
| MANY AREA WORKERS. | |||||||||
| SCHOOL FOUNDATION BASIC ALLOWANCE: | |||||||||
| --------------------------------------------------------- | |||||||||
| REVENUES FROM STATE FOUNDATION PAYMENTS ARE SUBJECT TO A NEW FUNDING FORMULA | |||||||||
| IMPLEMENTED IN FY10 VIA HB1. HB1 INTRODUCES THE CONCEPT OF AN EVIDENCED | |||||||||
| BASED FUNDING FORMULA WITH MANY COMPLEX FORMULAS. FUNDING FROM FOUNDATION | |||||||||
| STATE AID AT BEST IS EXPECTED TO BE FLAT. THE STATE IS ALSO EXPERIENCING | |||||||||
| HEAVY RECESSIONARY PRESSUES, AND WILL LIKELY HAVE TROUBLE PROVIDING | |||||||||
| ADEQUATE EDUCATION FUNDING TO SCHOOLS FOR FY10 AND BEYOND. | |||||||||
| FOR FY10 AND FY11 THE STATE OF OHIO HAS SUPPLANTED APPROXIMATELY 6.38% | |||||||||
| OF ITS FOUNDATION AID WITH ARRA FEDERAL FOUNDATION AID. IT IS YET TO | |||||||||
| BE DETERMINED IF THE STATE WILL BE ABLE TO FULL RESTORE FUNDING FOR FY12 | |||||||||
| AND BEYOND WHEN FEDERAL ARRA AID IS NO LONGER AVAILABLE. | |||||||||
| THE STATE OF OHIO SUPREME COURT HAS INDICATED THE STATE OF OHIO'S SCHOOL | |||||||||
| FUNDING FORMULA TO BE UNCONSTITUTIONAL. HB1 IS AN ATTEMPT TO ADDRESS THIS | |||||||||
| PROBLEM, HOWEVER IT IS YET TO BE SEEN IF THE PROBLEM WILL BE CONSIDERED | |||||||||
| CORRECTED. | |||||||||
| FOUNDATION ALLOWANCES FOR FY09 AND PRIOR YEARS WERE BASED ON ADM. FOUNDATION | |||||||||
| ALLOWANCES FOR FY10 AND BEYOND ARE BASED ON THE OHIO EVIDENCE BASED MODEL. | |||||||||
| RESTRICTED GRANTS IN AID: | |||||||||
| -------------------------------------- | |||||||||
| INCLUDES REVENUES FROM MISCELLANEOUS LOCAL, STATE, AND FEDERAL SOURCES | |||||||||
| INTENDED FOR SPECIFIC PROGRAM INTENTION OR GRANT OUTCOME. | |||||||||
| THESE REVENUE SOURCES DO NOT AFFECT THE SB345 SET ASIDE MONIES, AND | |||||||||
| THEREFORE MINIMAL ANALYSIS AND REVIEW IS SUBMITTED. | |||||||||
| PROPERTY TAX ALLOCATION: | |||||||||
| --------------------------------------- | |||||||||
| THE PROPERTY TAX ALLOCATION IS CALCULATED AS A FIXED PERCENTAGE OF PROPERTY | |||||||||
| TAX RECEIPTS. THE PERCENTAGE IS CALCULATED AS AN AVERAGE OF THE | |||||||||
| PERCENTAGE FROM THE PRIOR THREE YEARS. | |||||||||
| THE GROWTH IN THIS REVENUE MATCHES THE ANTICIPATED GROWTH IN PROPERTY TAXES. | |||||||||
| THESE REVENUE SOURCES GENERALLY ACCOUNT FOR A SMALL AMOUNT OF THE | |||||||||
| DISTRICTS ANNUAL REVENUE FOR THE FUNDS INDICATED ON THE FORECAST TITLE PAGE. | |||||||||
| THESE REVENUE SOURCES DO NOT AFFECT THE SB345 SET ASIDE MONIES, AND | |||||||||
| THERFORE MINIMAL ANALYSIS AND REVIEW IS THUS SUBMITTED. | |||||||||
| ALL OTHER REVENUE: | |||||||||
| ---------------------------- | |||||||||
| REVENUE FOR ALL OTHER SOURCES IS BASED ON HISTORICAL PATTERNS. | |||||||||
| REVENUES IN THIS AREA INCLUDE SUCH REVENUE AS OPEN ENROLLMENT TUITION, | |||||||||
| INTEREST INCOME, CLASS MATERIALS/FEES, PROPERTY RENTAL, DONATIONS, | |||||||||
| AND SEVERAL OTHER VERY MINOR REVENUE SOURCES. | |||||||||
| THESE REVENUE SOURCES GENERALLY ACCOUNT FOR IN TOTAL OF AROUND 5% OF | |||||||||
| THE DISTRICTS ANNUAL REVENUE FOR THE FUNDS INDICATED ON THE FORCAST | |||||||||
| TITLE PAGE. | |||||||||
| THESE REVENUE SOURCES DO NOT AFFECT THE SB345 SET ASIDE MONIES, AND | |||||||||
| THEREFORE MINIMAL ANALYSIS AND REVIEW IS THUS SUBMITTED. | |||||||||
| PERSONAL SERVICES AND BENEFITS: | |||||||||
| ------------------------------------------------ | |||||||||
| THE AMOUNTS FOR SALARIES AND BENEFITS ARE BASED ON EXISTING NEGOTIATED | |||||||||
| AGREEMENTS. FOR PERIODS BEYOND THE CURRENT AGREEMENTS, HISTORICAL | |||||||||
| PATTERNS REGARDING SALARY AND BENEFIT INCREASES HAVE BEEN USED BUT ARE | |||||||||
| SUBJECT TO NEGOTIATION. | |||||||||
| SUMMARY OF TEACHER UNION AGREEMENT RAISES ARE AS FOLLOW: FY07 3.25%, | |||||||||
| FY08 3.00%, FY09 3.00%, FY10 3.00%. | |||||||||
| STAFF RAISE’S (IF ANY) FOR FY11, FY12, FY13 AND FY14 HAVE NOT BEEN | |||||||||
| DETERMINED AS NEGOTIATIONS ARE PENDING. | |||||||||
| THE FORECAST FOR PERSONAL SERVICE INCREASES DO NOT REPRESENT INCREASES | |||||||||
| THAT WILL BE GRANTED, BUT RATHER COST INCREASES BASED ON HISTORIC TRENDS | |||||||||
| FROM PRIOR YEARS. CURRENT ECONOMIC RECESSIONARY PRESSURES WILL LIKELY | |||||||||
| CAUSE BUDGET RESTRICTIONS TO STAFF COSTS FOR ALL PERIODS OCCURING AFTER | |||||||||
| THE SUBMISSION OF THIS FORECAST. | |||||||||
| RETIREMENT CONTRIBUTION COSTS GENERALLY FOLLOW PAY RAISE INCREASES BY A | |||||||||
| LIKE PERCENTAGE INCREASE. | |||||||||
| TEACHER STEPS AND MOVEMENT FROM ONE DEGREE LEVEL TO ANOTHER HAVE A | |||||||||
| TENDENCY TO INCREASE SALRIES FROM 1% TO 3% ANNUALLY. | |||||||||
| LONGEVITY OF PERSONEL IN THE SYSTEM PROVIDE FOR STABILITY BUT CREATE A | |||||||||
| TREND TOWARD LARGER SALARY FIGURES AND INCREASES. | |||||||||
| INSURANCE COSTS BEYOND FY10 ARE EXPECTED TO BE NOMINAL, HOWEVER THE NATURE | |||||||||
| OF OUR SELF INSURED HEALTH PLAN COULD RESULT IN UNEXPECTED AND LARGE | |||||||||
| INCREASES SHOULD OUR RELATIVELY SMALL HEALTH INSURANCE CONSORTIUM INCUR | |||||||||
| CLAIMS ABOVE AND BEYOND THE NORM. | |||||||||
| ALL FULL-TIME EMPLOYEES HAVE A $2,000 INSURANCE OPT-OUT. THIS CAN RESULT | |||||||||
| IN COST SAVINGS TO THE DISTRICT IN LIEU OF OPTING TO SIGN UP FOR HEALTH | |||||||||
| INSURANCE. HOWEVER, THIS OPTION IS DECLINING AS NON-SCHOOL EMPLOYERS ARE | |||||||||
| FORCING THE SCHOOL EMPLOYED SPOUSE TO TAKE OUT A HEALTH PLAN THROUGH THE | |||||||||
| SCHOOL. FURTHER JOB LOSSES IN THE AREA ARE FORCING MORE EMPLOYEES TO TAKE | |||||||||
| OUT INSURANCE WHERE PREVIOUSLY THEY WERE COVERED OUTSIDE THE SCHOOL. | |||||||||
| PURCHASED SERVICES/MATERIALS AND SUPPLIES: | |||||||||
| ------------------------------------------------------------------- | |||||||||
| ANTICIPATED EXPENDITURES IN THESE AREAS ARE BASED ON HISTORICAL PATTERNS. | |||||||||
| THE DISTRICT IS IN COMPLIANCE WITH THE PERCENTAGE EXPENDITURE | |||||||||
| REQUIREMENTS ESTABLISHED BY SB345/HB 412. | |||||||||
| NATURAL GAS, ELECTRIC, AND DIESEL FUEL PRICES ARE SOMEWHAT FLUCUATING | |||||||||
| AND ARE CAUSE FOR CONCERN FOR FY10 AND BEYOND. | |||||||||
| CAPITAL OUTLAY: | |||||||||
| ----------------------- | |||||||||
| CAPITAL OUTLAY EXPENDITURES ARE BASED ON HISTORICAL PATTERNS. | |||||||||
| THE GENERAL FUND ALSO TAKES CARE OF CAPITAL IMPROVEMENTS OUTSIDE | |||||||||
| OF THAT OF THE PERMANENT IMPROVEMENT FUND, HOWEVER THE PERMANENT | |||||||||
| IMPROVEMENT FUND EXPIRED DECEMBER 31, 2009 AND WAS NOT RENEWED BECAUSE | |||||||||
| A 1/2 MILL OSFC BUILDING MAINTENANCE LEVY WAS PASSED AS A REQUIRED | |||||||||
| PART OF THE OSFC NEW/RENOVATED BUILDING MASTER PLAN. | |||||||||
| IMPROVEMENTS ARE BASED ON NEED AND AVAILABLE FUNDS. | |||||||||
| BUILDINGS ARE RAPIDLY AGING AND OCCASSIONALLY NEED EXTENSIVE | |||||||||
| MAINTENANCE AND REPAIR. | |||||||||
| COSTS PROJECTIONS IN THE FORECAST REFLECT ONLY BASIC MAINTENANCE. | |||||||||
| CORRECTION OF EXTENSIVE BUILDING PROBLEMS WOULD REQUIRE THE PASSAGE | |||||||||
| OF A BUILDING P.I. LEVY. HOWEVER PASSAGE OF SUCH A LEVY IS NOT | |||||||||
| CONSIDERED NECESSARY AS THE DISTRICT PASSED A LEVY FOR A NEW/RENOVATED | |||||||||
| SCHOOL IN FEBRUARY 2009 AS PART OF A CFAP PROJECT WITH THE OSFC. | |||||||||
| OTHER, ADVANCES, TRANSFERS: | |||||||||
| ------------------------------------------- | |||||||||
| OTHER EXPENSES ACCOUNTING FOR LESS THAN 1% OF THE BUDGET ARE ACCOUNTED | |||||||||
| FOR IN THESE LINE ITEMS, BUT ARE NOT ANALYZED BEYOUND THE HISTORICAL | |||||||||
| LEVEL. | |||||||||
| DEBT SERVICE: | |||||||||
| ------------------- | |||||||||
| ALL DEBT SERVICE REQUIREMENTS WILL BE PAID TIMELY. | |||||||||
| $9,300,000 IN BONDS WERE SOLD IN 2009 RELATED TO OSFC BUILDING | |||||||||
| PROJECT CONSTRUCTION. | |||||||||
| A SEPARATE DEBT SERVICE FUND ACCOUNTS FOR THE PROCEEDS AND EXPENDITURES | |||||||||
| OF THE BOND DEBT THE SCHOOL IS SUBJECT TO. | |||||||||
| NO NOTES ARE CURRENTLY BEING RENEWED EACH YEAR OR ANTICIPATED. | |||||||||
| NOTES ON FORECASTING: | |||||||||
| ----------------------------------- | |||||||||
| FORECASTING REQUIRES A BASE KNOWLEDGE OF PRIOR TRENDS COMBINED WITH | |||||||||
| CURRENT EVENTS AS WELL AS POSSIBLE FUTURE EVENTS. | |||||||||
| THIS PRESENTATION IS SUBJECT TO CHANGE AS EVENTS AT THE NATIONAL, | |||||||||
| STATE, AND LOCAL SCEEN CHANGE. | |||||||||