WOODRIDGE LOCAL SCHOOLS FIVE YEAR FORECAST MAY 2017

The Five Year Forecast is used to predict the financial health of a school district It must be submitted to ODE in October with an update each May It looks at the revenues and expenditures of the General Fund of the School District

REVENUES

LINE 1.01 PROPERTY TAX 2017 2018 2019 2020 2021 Property Tax $16,483,552 $16,708,780 $16,749,870 $16,840,276 $16,485,003 Woodridge currently has a Residential tax rate of 22.516 mills, which by law cannot fall below 20 mills We also have Emergency/Fixed Rate millage of 19.66 mills (of which 2.18 mills is set to expire in 2019) The district also has Debt Service & Capital millage of 8.05 mills (which is not included in the forecast) It should be noted that 3.32 mills in Debt Service will end in 2018

LINE 1.03 UNRESTRICTED GRANTS IN AID 2017 2018 2019 2020 2021 Unrestricted Grants in Aid $1,626,673 $1,678,102 $1,740,836 $1,822,397 $1,901,736 This is our basic State Foundation State Foundation budget is created every 2 years with current one ending 06/30/17 Current proposals have Woodridge receiving a small increase This forecast currently projects Woodridge to receive 3-4% increases

LINE 1.05 PROPERTY TAX ALLOCATION 2017 2018 2019 2020 2021 Property Tax Allocation $3,375,453 $2,790,197 $2,636,804 $2,545,006 $1,901,736 This line item include items such as Homestead and Rollback taxes It also includes non-utility Tangible Personal Property (TPP) taxes TPP is scheduled to phase out over time, therefore this line decreases as time goes on

LINE 1.06 ALL OTHER REVENUE 2017 2018 2019 2020 2021 Other Revenue $2,107,328 $2,094,938 $2,126,362 $2,158,2528 $2,190,631 This line includes, but is not limited to items such as Open Enrollment Tuition Reimbursement School Fees Payment in Lieu of Taxes

LINE 2.08 TOTAL REVENUE 2017 2018 2019 2020 2021 Total Revenues $24,505,206 $24,177,774 $23,743,497 $23,861,154 $23,858,671 Revenue will decline through the forecasted years from 1-2%

TYPES OF REVENUES

EXPENDITURES

LINE 3.01 PERSONNEL SERVICES 2017 2018 2019 2020 2021 Personnel Services $14,305,643 $14,879,894 $15,415,156 $15,969,792 $16,544,385 Personnel Services are the salaries of the district employees This Forecast takes into effect the laws and rules as set forth by the Ohio Revised Code and the current WEA/OAPSE negotiated agreements

LINE 3.02 BENEFITS 2017 2018 2019 2020 2021 Benefits $5,558,093 $6,361,781 $6,735,288 $7,190,173 $7,684,840 This line items includes Retirement (14%), Medicare (1.45%) and Workers Comp (.62%) It also include Health Insurance of which we are receiving a 14.7 increase in FY18 I have projected 10% increases after FY18

LINES 3.03 PURCHASED SERVICES & 3.04 SUPPLIES 2017 2018 2019 2020 2021 Purchased Services $4,291,914 $4,377,753 $4,465,308 $4,554,614 $4,645,706 Supplies $818,702 $826,889 $835,158 $843,509 $851,944 Each of these line items are carrying a 2% increase in future years LINE 4.30 OTHER OBJECTS 2017 2018 2019 2020 2021 Other Objects $354,867 $362,851 $371,015 $379,363 $387,899 This line item includes, but is not limited to County Auditor Fees Property & Liability Insurance Audit Fees

LINE 5.05 TOTAL EXPENDITURES 2017 2018 2019 2020 2021 Total Expenditures $25,992,468 $27,387,507 $28,445,174 $29,560,700 $30,738,023 Expenditures will be increasing throughout the forecast from 3-5.3% each year

EXPENDITURES

REVENUES VS. EXPENDITURES

CASH BALANCE 2017 2018 2019 2020 2021 Cash Balance $5,431,900 $2,222,167 ($2,059,510) ($7,339,056) ($14,198,408)

This Forecast will be updated when the new budget is finalized We will have to keep the Ohio Department of Education and the Auditor of State informed of how we plan on getting out of our deficit balance