1. WOODRIDGE LOCAL SCHOOLS
FIVE YEAR FORECAST
MAY 2017

2. 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

3. REVENUES

4. 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 mills, which by law cannot fall below 20 mills
We also have Emergency/Fixed Rate millage of mills (of which 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

5. 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

6. 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

7. 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

8. 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%

9. TYPES OF REVENUES

10. EXPENDITURES

11. 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

12. 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 increase in FY18
I have projected 10% increases after FY18

13. 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

14. 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

15. EXPENDITURES

16. REVENUES VS. EXPENDITURES

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

18. 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