View
1
Download
0
Category
Preview:
Citation preview
1
October,2016
DeerParkCommunityCitySchools
FiveYearForecastFinancialReport
© Public Finance Resources, Inc. 2016
DeerParkCommunityCitySchools
TableofContents
PAGE#
TableofContents 2
ExecutiveSummary 3
RevenueOverview 41.010‐GeneralPropertyTax(RealEstate) 51.020‐PublicUtilityPersonalProperty 61.030‐IncomeTax 71.035‐UnrestrictedGrants‐in‐Aid 81.040&1.045‐RestrictedGrants‐in‐Aid 91.050‐PropertyTaxAllocation 101.060‐AllOtherOperatingRevenues 112.070‐TotalOtherFinancingSources 12
ExpendituresOverview 133.010‐PersonnelServices 143.020‐EmployeeBenefits 153.030‐PurchasedServices 163.040‐SuppliesandMaterials 173.050‐CapitalOutlay 183.060‐4.060‐Intergovernmental&Debt 194.300‐OtherObjects 205.040‐TotalOtherFinancingUses 21
ForecastCompare 22
FiveYearForecast 23
OhioDepartmentofEducation'spurposes/objectivesforthefive‐yearforecastare:
1.
2.
3.
2
Toengagethelocalboardofeducationandthecommunityinthelongrangeplanninganddiscussionsoffinancialissuesfacingtheschooldistrict.Toserveasabasisfordeterminingtheschooldistrict'sabilitytosignthecertificaterequiredbyO.R.C.§5705.412,commonlyknownasthe"412certificate."ToprovideamethodfortheDepartmentofEducationandAuditorofStatetoidentifyschooldistrictswithpotentialfinancialproblems.
ForecastPurpose/Objectives
© Public Finance Resources, Inc. 2016
October,2016 ExecutiveSummary DeerParkCommunityCitySchools
FiveYearForecast‐SimplifiedStatement FiscalYear FiscalYear FiscalYear FiscalYear FiscalYear
2017 2018 2019 2020 2021
BeginningBalance 9,716,873 9,835,532 9,532,549 8,799,797 7,638,727
+Revenue 15,673,093 15,977,951 16,238,684 16,461,036 16,726,320+ProposedRenew/ReplacementLevies ‐ ‐ ‐ ‐ ‐+ProposedNewLevies ‐ ‐ ‐ ‐ ‐‐Expenditures (15,554,434) (16,280,933) (16,971,436) (17,622,105) (18,557,487)=RevenueSurplusorDeficit 118,659 (302,983) (732,752) (1,161,070) (1,831,167)
EndingBalance 9,835,532 9,532,549 8,799,797 7,638,727 5,807,560
RevenueSurplusorDeficitw/oLevies 118,659 (302,983) (732,752) (1,161,070) (1,831,167)EndingBalancew/oLevies 9,835,532 9,532,549 8,799,797 7,638,727 5,807,560
Summary:
3
Thefiveyearforecastuseshistoricaldatacombinedwithcurrenttrendstomakeprojections.AlthoughtheDistricttriestoaccountforasmuchinformationaspossible,therearestillmanyunknownsthatcouldhaveasignificantimpactonthisforecast.Thedatacontainedinthisreportisbasedontheinformationthatisavailabletoday,asdescribedinthenotesandassumptions.
Theexecutivesummaryissimplyacondensedversionofthefullforecast.Itshowsthefiveprojectedyearsofrevenue,expenditures,surplusordeficit,andendingcashbalance.TheDistrictusesarecommended60dayscashbalance,whichisabout$3million.Althoughtheprojectionsshowdeficitspendingbeginninginfiscalyear2018,theDistrictisprojectingtoexceedthatrecommendedcashbalancebyalmost$3millionattheendoffiscalyear2021.Whatthismeansforourtaxpayersisthatwedonotseetheneedforanoperatinglevythroughthelifeofthisforecast.
$15,673,093 $15,977,951 $16,238,684 $16,461,036 $16,726,320
$15,554,434 $16,280,933 $16,971,436 $17,622,105 $18,557,487
$0$2,000,000$4,000,000$6,000,000$8,000,000$10,000,000$12,000,000$14,000,000$16,000,000$18,000,000$20,000,000
2017 2018 2019 2020 2021
Revenuevs.Expenditures
Revenue Renew/ReplacementLevies NewLevies Expenditures
© Public Finance Resources, Inc. 2016
DeerParkCommunityCitySchools
RevenueOverview
Prev.5‐Year PROJECTED 5‐Year
Avg.Annual FiscalYear FiscalYear FiscalYear FiscalYear FiscalYear Avg.Annual
Change 2017 2018 2019 2020 2021 Change
Revenue:1.010‐RealEstate 4.20% ‐3.10% 1.58% 0.36% 0.03% 0.32% ‐0.16%1.020‐PublicUtility 6.93% 4.79% 5.27% 5.21% 3.49% 4.01% 4.56%1.030‐IncomeTax n/a 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%1.035‐StateFunding 5.24% 0.78% 3.87% 4.80% 4.96% 4.78% 3.84%1.040‐RestrictedAid 247.17% 19.08% 2.95% 0.71% ‐0.47% 0.53% 4.56%1.045‐RestrFederalSFSF ‐87.59% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%1.050‐PropertyTaxAlloc ‐10.15% ‐0.53% 0.29% 0.19% ‐0.02% 0.23% 0.03%1.060‐AllOtherOperating ‐2.68% ‐1.85% ‐1.11% ‐1.07% ‐1.08% ‐1.10% ‐1.24%
1.070‐TotalRevenue 2.00% ‐1.34% 2.10% 1.63% 1.39% 1.61% 1.08%2.070‐TotalOtherSources 243.30% ‐72.99% ‐88.81% 0.00% ‐100.00% #DIV/0! 0.00%
2.080‐TotalRev&OtherSrcs 2.11% ‐1.78% 1.95% 1.63% 1.37% 1.61% 0.95%
2016 2021RealEstate 57.0% 53.9%PublicUtility 5.9% 7.1%IncomeTax 0.0% 0.0%StateFunding 23.2% 26.7%PropTaxAllo 7.2% 6.9%AllOthrOpRe 6.0% 5.4%OthrSources 0.6% 0.0%
4
Overtheforecastperiod,theDistrictisprojectingalmostnonewrevenue.LocaltaxesmakeupamajorityoftheDistrict'srevenueandthisareaisnotexpectedtogrowduetotheDistrictbeinglandlockedandfullydeveloped.TheDistricthasbenefitedfromthenewstatefundingformula,butbeyondthecurrentbienniumitisdifficulttoprojectthislineitem.Itisimportanttonotethatweprojectinga1.12%increaseintotalrevenuecomparedto2%historicalaverage.Thereasonforthisisbecauserealestatecollectionswereupinfiscalyear2016comparedtoprioryearsandthisisnotprojectedtocontinue.Thisisanareathathasthepotentialtochange,butbasedonhistoricalcollectionswewouldseeaslightdecreaseinfiscalyear2017.
RealEstate57.0%
PublicUtility5.9%
IncomeTax0.0%
StateFunding23.2%
PropTaxAlloc7.2%
AllOthrOpRev6.0%
OthrSources0.6%
2016
RealEstate53.9%
PublicUtility7.1%
IncomeTax0.0%
StateFunding26.7%
PropTaxAlloc6.9%
AllOthrOpRev5.4%
OthrSources0.0%
2021
© Public Finance Resources, Inc. 2016
DeerParkCommunityCitySchools
1.010‐GeneralPropertyTax(RealEstate)
ProjectedRevRenewalLevyRevenue2012 $7,369,594 $1
FY2016‐Rea 2013 $7,418,546
0.57036073 2014 $8,310,769
2015 $8,949,349
2016 $9,101,584
2017 $8,818,993 $0
2018 $8,958,573 $0
2019 $8,991,219 $0
2020 $8,993,874 $0
2021 $9,022,333 $0
Year‐over‐Actual5‐YeProjected5‐YearAverage2012 ‐1.07% 4.20%2013 0.66% 4.20%2014 12.03% 4.20%2015 7.68% 4.20%2016 1.70% 4.20%2017 ‐3.10% ‐0.16%2018 1.58% ‐0.16%2019 0.36% ‐0.16%2020 0.03% ‐0.16%2021 0.32% ‐0.16%
*Projected%trendsincluderenewallevies5
Generalpropertytax(realestate)flowstothedistrictthroughtheCountyAuditor'sOffice.Theamountsforthecurrentfiscalyeararebasedonactualcollectionsfromadvancepayments,butatthistimetheDistricthasnotreceivedthefallsettlementpayment.Fiscalyear2015isthefirstyeartoincludethefullimpactofthelevypassedinNovember2013.TheAuditorcalculateshisestimatesbasedoncollectionsofapproximately96%oftheDistrict'spropertytaxduplicate.Inaddition,wehaveaccountedforanestimateofdelinquenciestobecollected.Futurefiscalyearsarebasedoncurrenthousingmarkettrends.Thetriennialupdatein2014resultedinasmallnetincreaseinvaluesfortaxescollectedincalendaryear2015.Itisbelievedthatvalueswilldecreaseslightlybetweentheyearsoffiscalyear2016andfiscalyear2017.Theincreasesforfiscalyear2018,2019,and2020arereflectiveofthereappraisalin2017.Duringtheupdatein2014,valuesroseby0.37%.Basedontheslowrecoveryofthehousingmarket,theDistrictispredictingsmalldecreasesfollowedbyslightincreasesinvaluationoverthelifeoftheforecast.
RevenuecollectedfromtaxesleviedbyaschooldistrictbytheassessedvaluationofrealpropertyusingeffectivetaxratesforclassI(residential/agricultural)andclassII(business).
57.0%
FY2016‐ RealEstateasa%ofTotalRevenue
$7,369,594
$7,418,546
$8,310,769
$8,949,349
$9,101,584
$8,818,993
$8,958,573
$8,991,219
$8,993,874
$9,022,333
$0
$0
$0
$0
$0
$0
$2,000,000
$4,000,000
$6,000,000
$8,000,000
$10,000,000
2012 2013 2014 2015 2016 2017 2018 2019 2020 2021
GeneralPropertyTax(RealEstate)ActualandProjected
ProjectedRevenue RenewalLevyRevenue
4.20%‐0.16%
‐4.0%
‐2.0%
0.0%
2.0%
4.0%
6.0%
8.0%
10.0%
12.0%
14.0%
2012 2013 2014 2015 2016 2017 2018 2019 2020 2021
Year‐over‐YearRevenueTrend
Year‐over‐YearRevenueVariance Actual5‐YearAverage Projected5‐YearAverage
© Public Finance Resources, Inc. 2016
DeerParkCommunityCitySchools
1.020‐PublicUtilityPersonalProperty
ProjectedRevRenewalLevyRevenueFY2016‐Pub 2012 $600,492 $600,492
2013 $710,466 $710,466
2014 $811,375 $811,375
2015 $894,263 $894,263
2016 $948,193 $948,193
2017 $993,566 $0 $993,566
2018 $1,045,972 $0 $1,045,972
2019 $1,100,474 $0 $1,100,474
2020 $1,138,883 $0 $1,138,883
2021 $1,184,607 $0 $1,184,607
Year‐over‐Actual5‐YeProjected5‐YearAverage2012 ‐14.11% 6.93%2013 18.31% 6.93%2014 14.20% 6.93%2015 10.22% 6.93%2016 6.03% 6.93%2017 4.79% 4.56%2018 5.27% 4.56%2019 5.21% 4.56%2020 3.49% 4.56%2021 4.01% 4.56%
*Projected%trendsincluderenewallevies6
Overthepastfiveyears,publicutilitypersonalpropertyhasincreasedby6.93%.TheprojectionsforFY17‐FY21arebasedonthesehistoricalincreasescombinedwiththeexpectedincreasesfromreappraisalin2017.
TheDistrictnolongerreceivestangiblepersonalpropertytaxrevenuewhichwaspreviouslyrecordedonthislineitem.
Revenuegeneratedfrompublicutilitypersonalpropertyvaluationsmultipliedbythedistrict'sfullvotedtaxrate.
$600,492
$710,466
$811,375
$894,263
$948,193
$993,566
$1,045,972
$1,100,474
$1,138,883
$1,184,607
$0 $0 $0
$0 $0
$0
$200,000
$400,000
$600,000
$800,000
$1,000,000
$1,200,000
$1,400,000
2012 2013 2014 2015 2016 2017 2018 2019 2020 2021
TangiblePersonalPropertyTaxActualandProjected
ProjectedRevenue RenewalLevyRevenue
6.93%4.56%
‐20.0%
‐15.0%
‐10.0%
‐5.0%
0.0%
5.0%
10.0%
15.0%
20.0%
2012 2013 2014 2015 2016 2017 2018 2019 2020 2021
Year‐over‐YearRevenueTrend
Year‐over‐YearRevenueVariance Actual5‐YearAverage Projected5‐YearAverage
5.9%
FY2016‐ PublicUtilityasa%ofTotalRevenue
© Public Finance Resources, Inc. 2016
DeerParkCommunityCitySchools
1.030‐IncomeTax
ProjectedRevRenewalLevyRevenueFY2016‐Inco 0 2012 ‐
2013 ‐2014 ‐2015 ‐2016 ‐2017 ‐ ‐2018 ‐ ‐2019 ‐ ‐2020 ‐ ‐2021 ‐ ‐
Year‐over‐Actual5‐YeProjected5‐YearAverage2012 n/a #DIV/0!2013 n/a #DIV/0!2014 n/a #DIV/0!2015 n/a #DIV/0!2016 n/a #DIV/0!2017 0.00% 0.00%2018 0.00% 0.00%2019 0.00% 0.00%2020 0.00% 0.00%2021 0.00% 0.00%
*Projected%trendsincluderenewallevies7
Revenuecollectedfromincometaxearmarkedspecificallytosupportschoolswithavoterapprovedtaxbyresidentsoftheschooldistrict;separatefromfederal,stateandmunicipalincometaxes.
TheDistrictdoesnothaveanincometax.
0.0%
FY2016‐ IncomeTaxasa%ofTotalRevenue
0.00%
0.00%0.0%
10.0%
20.0%
30.0%
40.0%
50.0%
60.0%
70.0%
80.0%
90.0%
100.0%
2012 2013 2014 2015 2016 2017 2018 2019 2020 2021
Year‐over‐YearRevenueTrend
Year‐over‐YearRevenueVariance Actual5‐YearAverage Projected5‐YearAverage
$0 $0 $0 $0 $0 $0 $0 $0 $0 $0
$‐ $‐ $‐ $‐ $‐
$0
$0
$0
$1
$1
$1
2012 2013 2014 2015 2016 2017 2018 2019 2020 2021
IncomeTaxActualandProjected
ProjectedRevenue RenewalLevyRevenue
© Public Finance Resources, Inc. 2016
DeerParkCommunityCitySchools
1.035‐UnrestrictedGrants‐in‐Aid
FY2016‐Unr 0
8
FundsreceivedthroughtheStateFoundationProgramwithnorestriction.
Stateaidisprojectedtoincreaseslightlyinfiscalyear2017.ThecurrentfundingmodelapprovedbytheStateLegislatureprovidesmoreassistanceinthebasicaidforsmaller,lowwealthschooldistricts.TheDistrictiscurrentlyontheformula,butisprojectedtomovetothegrowthcapinFY18‐FY21.TheDistrictisestimatingslowgrowthinenrollment,whichcombinedwithslightincreasesinvaluationhaveresultedinanincreaseinthestateshareindexoverthelifeoftheforecast.ForFY17,theDistrictanticipatesthestateshareindextobe34.1%,whichequatesto$2048ofthetotal$6000corefundingperpupil.
22.5%
FY2016‐ UnresStateAidasa%ofTotalRevenue
$2,804,153
$2,970,992
$3,183,001
$3,442,494
$3,590,461
$3,618,292
$3,758,208
$3,938,617
$4,133,817
$4,331,614
$0
$500,000
$1,000,000
$1,500,000
$2,000,000
$2,500,000
$3,000,000
$3,500,000
$4,000,000
$4,500,000
$5,000,000
2012 2013 2014 2015 2016 2017 2018 2019 2020 2021
UnrestrictedGrants‐in‐AidActualandProjected
5.24% 3.84%
0.0%
1.0%
2.0%
3.0%
4.0%
5.0%
6.0%
7.0%
8.0%
9.0%
2012 2013 2014 2015 2016 2017 2018 2019 2020 2021
Year‐over‐YearRevenueTrend
Year‐over‐YearRevenueVariance Actual5‐YearAverage Projected5‐YearAverage
© Public Finance Resources, Inc. 2016
DeerParkCommunityCitySchools
1.040&1.045‐RestrictedGrants‐in‐Aid
FY2016‐Res 0
9
FundsreceivedthroughtheStateFoundationProgramorotherallocationsthatarerestrictedforspecificpurposes.
Thislineitemincludesrevenuesuchasreimbursementforspecialeducationcatastrophiccost,aswellaseconomicallydisadvantaged,andcareertechfundsfromtheFoundation.DeerParkreceivedonly$5,833infiscalyear2013forfiscalyear2012forcatastrophicreimbursementsanddidnotreceivefundsinfiscalyear2014duetotheimplementationofanewsubmissionsystem.Startinginfiscalyear2014thestateincreasedtheavailablepoolforreimbursementandasaresult,DeerParkreceivedapproximately$32,000forfiscalyear2013.Bothfiscalyear2014and2015catastrophiccostswerereimbursedinfiscalyear2015,withoneyearatatimebeingreceivedfromfiscalyear2016goingforward.Fundingforeconomicallydisadvantagedstudentswasrequiredtobecodedtothislineitemstartinginfiscalyear2014.ItisimportanttokeepinmindthatthesearenotadditionalfundsgiventotheDistrictbytheState‐theyaresimplyfundsthatwerepreviouslyincludedinline1.035.Fiscalyears2017‐2021arebasedonthesamecriteriaastherestoftheFoundationpayments.
0.7%
FY2016‐ RestStateAidasa%ofTotalRevenue
$90,061
$11,626
$153,484
$193,781
$110,984
$132,159
$136,056
$137,021
$136,378
$137,101
$0
$50,000
$100,000
$150,000
$200,000
$250,000
2012 2013 2014 2015 2016 2017 2018 2019 2020 2021
RestrictedGrants‐in‐AidActualandProjected
208.93% 4.56%
‐200.0%
0.0%
200.0%
400.0%
600.0%
800.0%
1000.0%
1200.0%
1400.0%
2012 2013 2014 2015 2016 2017 2018 2019 2020 2021
Year‐over‐YearRevenueTrend
Year‐over‐YearRevenueVariance Actual5‐YearAverage Projected5‐YearAverage
© Public Finance Resources, Inc. 2016
DeerParkCommunityCitySchools
1.050‐PropertyTaxAllocation
ProjectedRevRenewalLevyRevenueFY2016‐Pro 0 2012 $1,544,291
2013 $1,277,631
2014 $1,297,575
2015 $1,329,682
2016 $1,145,605
2017 $1,139,568 $0
2018 $1,142,928 $0
2019 $1,145,139 $0
2020 $1,144,870 $0
2021 $1,147,452 $0
Year‐over‐Actual5‐YeProjected5‐YearAverage2012 ‐23.69% ‐10.15%2013 ‐17.27% ‐10.15%2014 1.56% ‐10.15%2015 2.47% ‐10.15%2016 ‐13.84% ‐10.15%2017 ‐0.53% 0.03%2018 0.29% 0.03%2019 0.19% 0.03%2020 ‐0.02% 0.03%2021 0.23% 0.03%
*Projected%trendsincluderenewallevies10
OnleviespriortoNovember2013,statelawgrantedtaxreliefintheformofa10%reductioninrealpropertytaxbills.Inaddition,a2.5%rollbackwasgrantedonresidentialpropertytaxes.Additionaltaxreliefisgrantedtoqualifiedelderlyanddisabledhomeownersbasedontheirincome.TheStatereimbursestheDistrictforthelossofpropertytaxesasaresultofsuchprovisionsinthelawandwillcontinuetodosoforleviespassedpriortoNovember2013.
PleasenotethatestimatesinthiscategoryalsoreflectthedrasticcutssufferedbytheDistrictwiththeeliminationofapproximately$215,000yearlyelectricderegulationreimbursementfromthestateaswellasareductionofover$500,000fromfiscalyear2011‐2013instatereimbursementsduetothephaseoutoftangiblepersonalpropertytaxreplacement.
ExpansionofHomesteadExemption:Taxpayerswhoare65yearsofageorpermanentlydisablednowreceiveanexemptionof$25,000ofmarketvaluefromtheirhomesbeforetheyaretaxed.WiththepassageofHB59,theHomesteadExemptionrevertedbacktobeingmeanstested.Homeownerscurrentlyreceivingtheexemptionhavebeengrandfatheredintotheprogram.HomeownersapplyingafterHB59'seffectivedatewillhavetoadheretoanewsetofdeterminingfactors.However,thisisstillanothersignificantpropertytaxreductionforthoseeligibletaxpayersinourdistrict.
IncludesfundsreceivedforTangiblePersonalPropertyTaxReimbursement,ElectricDeregulation,HomesteadandRollback.
7.2%
FY2016‐ PropTaxAllocationasa%ofTotal
Revenue
‐10.15%
0.03%
‐30.0%
‐25.0%
‐20.0%
‐15.0%
‐10.0%
‐5.0%
0.0%
5.0%
2012 2013 2014 2015 2016 2017 2018 2019 2020 2021
Year‐over‐YearRevenueTrend
Year‐over‐YearRevenueVariance Actual5‐YearAverage Projected5‐YearAverage
$1,544,291
$1,277,631
$1,297,575
$1,329,682
$1,145,605
$1,139,568
$1,142,928
$1,145,139
$1,144,870
$1,147,452
$0 $0 $0$0
$0
$0
$500,000
$1,000,000
$1,500,000
$2,000,000
2012 2013 2014 2015 2016 2017 2018 2019 2020 2021
PropertyTaxAllocationActualandProjected
ProjectedRevenue RenewalLevyRevenue
© Public Finance Resources, Inc. 2016
DeerParkCommunityCitySchools
1.060‐AllOtherOperatingRevenues
FY2016‐Oth 0
11
Operatingrevenuesourcesnotincludedinotherlines;examplesincludetuition,fees,earningsoninvestments,rentals,anddonations.
Revenuefromallothersourcesisbasedonhistoricalpatternsandtrends.Actualrevenuesmaysignificantlyfluctuateinanygivenyeardependingoncircumstances.Oneareathathasalargeimpactonthislineistaxincrementfinancing(TIF)payments.TIFisaneconomicdevelopmentmechanismthatallowslocalgovernmentstofinancepublicinfrastructureimprovements.Infiscalyear2012,DeerParkexperiencedareductioninTIFmoneyfromSycamoreTownshipduetoadelinquentaccountfromoneofthefivetaxpayersbenefitingfromtheTIFprogram.Duringthe2013calendaryear,theDistrictstartedtoreceivepaymentsagainfromthatdelinquentaccount.Inthespringof2014,thedelinquencieswerepaidup,accountingforamuchlargerpaymentreceivedinfiscalyear2014.TheDistrictanticipatesthatallpayerswillcontinuetostaycurrentforfiscalyear2016andbeyond.
Otherdeclinesinthisareaincludeinterestincome(duetorelativelylowinterestrates)andtheeffectofdoubledupeRatereimbursements.eRatereimbursementsreceivedinfiscalyear2012werefortwoyears,whileeveryotheryearhasbeenforoneyear'sworthofreimbursement.eRatepaymentswereslatedtobelessenedbyUSACby20%eachyearforcertainservicesandcompletelyeliminatedforothers,thereforepaymentsinthisareaarereducedineachoftheforecastedyears.
6.0%
FY2016‐ OtherOperatingRevenueasa%ofTotal
Revenue
$784,659
$697,506
$915,539
$949,929
$961,522
$943,714
$933,214
$923,214
$913,214
$903,214
$0
$200,000
$400,000
$600,000
$800,000
$1,000,000
$1,200,000
2012 2013 2014 2015 2016 2017 2018 2019 2020 2021
AllOtherOperatingRevenueActualandProjected
‐2.68%
‐1.24%
‐50.0%
‐40.0%
‐30.0%
‐20.0%
‐10.0%
0.0%
10.0%
20.0%
30.0%
40.0%
2012 2013 2014 2015 2016 2017 2018 2019 2020 2021
Year‐over‐YearRevenueTrend
Year‐over‐YearRevenueVariance Actual5‐YearAverage Projected5‐YearAverage
© Public Finance Resources, Inc. 2016
DeerParkCommunityCitySchools
2.070‐TotalOtherFinancingSources
FY2016‐Oth0.0%
12
Includesproceedsfromsaleofnotes,stateemergencyloansandadvancements,operatingtransfers‐in,andallotherfinancingsourceslikesaleandlossofassets,andrefundofprioryearexpenditures.
Infiscalyear2013,theHamiltonCountyAuditorreturned$116,302.58toDeerParkCommunityCitySchoolsfromtheAuditor'sRealEstateAssessmentFund.TheunspentbalanceinthisfundwasreturnedtolocalgovernmentsandschooldistrictsduetoincreasedefficienciesintheCountyAuditor'soffice.Infiscalyear2014,theDistrictreceivedarefundfromSERSduetoestimatesforcontributionsbeingslightlyhigherthanactualresults.Fiscalyear2015sawasmallerSERSrebate,rebatesfromBWC,andsomefundsstartedtocomeinfromsalesofpersonalproperty(obsoleteitemsthatgothroughtheHamiltonCountyAuctionwebsite).Asmallamountisincludedinfiscalyears2017‐2021foradditionalsales,butwedonotanticipateanyadditionalrebates.Advancesoutfromthepreviousfiscalyeararealsorecordedinthislineitemasadvancesin.Thisisusedforadvancingfundstothegrantaccountsinordertocloseoutthefiscalyear.
$10,528
$138,886
$217,371
$161,557
$99,243
$26,801
$3,000
$3,000
$0 $0
$0
$50,000
$100,000
$150,000
$200,000
$250,000
2012 2013 2014 2015 2016 2017 2018 2019 2020 2021
OtherOperatingFinancingSourcesActualandProjected
243.30% ‐65.45%
‐200.0%
0.0%
200.0%
400.0%
600.0%
800.0%
1000.0%
1200.0%
1400.0%
2012 2013 2014 2015 2016 2017 2018 2019 2020 2021
Year‐over‐YearRevenueTrend
Year‐over‐YearExpenditureVariance Actual5‐YearAverage Projected5‐YearAverage
0.6%
FY2016‐ OtherFinancingSourcesasa%ofTotal
Revenue
© Public Finance Resources, Inc. 2016
DeerParkCommunityCitySchools
ExpendituresOverview
Prev.5‐Year PROJECTED 5‐Year
Avg.Annual FiscalYear FiscalYear FiscalYear FiscalYear FiscalYear Avg.Annual
Change 2017 2018 2019 2020 2021 Change
Expenditures:3.010‐Salaries ‐2.04% 6.99% 4.37% 3.44% 3.73% 4.84% 4.67%3.020‐Benefits ‐0.39% 8.68% 6.86% 6.32% 6.54% 7.14% 7.11%3.030‐PurchasedServices 6.31% 3.83% 4.69% 5.79% 4.91% 5.61% 4.96%3.040‐Supplies&Materials 25.30% 6.51% ‐0.38% 0.98% ‐5.77% 7.16% 1.70%3.050‐CapitalOutlay 54.27% ‐25.42% 0.00% 0.00% 0.00% 0.00% ‐5.08%3.060‐Intergov n/a n/a n/a n/a n/a n/a n/a4.010‐4.060‐Debt n/a 0.24% 0.00% 0.00% 0.00% 0.00% 0.05%4.300‐OtherObjects ‐5.68% 62.86% 3.90% 7.96% 0.50% 4.34% 15.91%
4.500‐TotalExpenditures 0.28% 7.02% 4.60% 4.40% 3.96% 5.53% 5.10%5.040‐TotalOtherUses 50.50% 3.72% 5.68% 1.97% 1.97% 1.97% 3.06%
5.050‐TotalExp&OtherUses 1.10% 6.80% 4.67% 4.24% 3.83% 5.31% 4.97%
2016 2021Salaries 49.3% 48.6%Benefits 17.3% 19.2%PurchServ 19.6% 19.6%Supp&Mat 5.1% 4.4%CapitalOutlay 0.6% 0.3%Intergov&Deb 0.3% 0.3%OthrObjects 1.1% 1.6%OthrUses 6.6% 6.0%
13
Overthenextfiveyears,theDistrictisprojectinganincreaseintotalexpendituresby5.1%.Thisishigherthanhistoricaltrendsdueinlargeparttoprojectedincreasesinpurchasedservices.Pleaserefertopage16formoreinformation.
Salaries49.3% Benefits
17.3%
PurchServ19.6%
Supp&Mat5.1%
CapitalOutlay0.6%
Intergov&Debt0.3%
OthrObjects1.1%
OthrUses6.6%
2016
Salaries48.6% Benefits
19.2%
PurchServ19.6%
Supp&Mat4.4%
CapitalOutlay0.3%
Intergov&Debt0 3%
OthrObjects1.6%
OthrUses6.0%
2021
© Public Finance Resources, Inc. 2016
DeerParkCommunityCitySchools
3.010‐PersonnelServices
FY2016‐Sala 0
14
Employeesalariesandwages,includingextendedtime,severancepay,supplementalcontracts,etc.
TheDistrictisinitsfinalyearofthenegotiatedagreeementwiththeDPEA.Fiscalyear2017projectionsarebasedoncurrentstaffinglevelsandapprovedsalaryschedules.Fiscalyears2018‐2021projectionsarebasedonincreasesthatareinlinewithrecenthistoricaltrendsinsurroundingdistricts.Salariesfortwoadditionalteachershavebeenaddedtothislineforfiscalyears2018‐2021toaccomodatealldaykindergarten.
Theincreaseinfiscalyear2016wasduetothemoveofthethirdgradeteachersfromHolmesElementarytoAmityElementary.Withthistransition,thethirdgradeteachers'salariescouldnolongerbepaidfromtheFederalSchool‐widePoolfundandwereaddedtogeneralfundsalaries.
49.3%
FY2016‐ Salariesasa%ofTotalExpenditures
$7,042,132
$6,588,786
$6,385,927
$6,600,731
$7,184,698
$7,686,935
$8,022,878
$8,298,878
$8,608,103
$9,024,907
$0
$1,000,000
$2,000,000
$3,000,000
$4,000,000
$5,000,000
$6,000,000
$7,000,000
$8,000,000
$9,000,000
$10,000,000
2012 2013 2014 2015 2016 2017 2018 2019 2020 2021
PersonnelServices ActualandProjected
‐2.04%
4.67%
‐15.0%
‐10.0%
‐5.0%
0.0%
5.0%
10.0%
2012 2013 2014 2015 2016 2017 2018 2019 2020 2021
Year‐over‐YearExpenditureTrend
Year‐over‐YearExpenditureVariance Actual5‐YearAverage Projected5‐YearAverage
© Public Finance Resources, Inc. 2016
DeerParkCommunityCitySchools
3.020‐Employees'Benefits
FY2016‐Ben 0
15
Retirementforallemployees,WorkersCompensation,earlyretirementincentives,Medicare,unemployment,pickuponpickup,andallhealth‐relatedinsurances.
Asignificantportionofthislineitemispercentagebasedandthereforeautomaticallyincreaseswithsalaries.Retirement,medicare,worker'scompensation,andlifeinsurancearealltieddirectlytosalaries.Theremainderofthislineitemiscomprisedofmedicalanddentalinsurance.WiththeimplementationoftheAffordableCareAct,theDistricthasseenanincreaseinthenumberofemployeeselectingtoreceivethesebenefits.Throughvariousplanchanges,theGreaterCincinnatiInsuranceConsortium(GCIC)hasbeenabletoholdpremiumssteadysincefiscalyear2014.Itisunlikelythatpremiumswillremainattheircurrentlevelgoingforwardsofiscalyears2018‐2021includea10%increase(thisisthecapthatGCIChasagreednottoexceedinanyoneyear).
Thedeclinefromfiscalyear2012tofiscalyear2013wasaresultofbenefitspaidforFederalSchool‐widePoolBuildingProgramteachersatHolmesElementarymovingfromgeneralfundtoafederalfund.Pleasereadnote5.010"OperatingTransfers‐Out"foradditionalexplanationoftheprogram.
17.3%
FY2016‐ Benefitsasa%ofTotalExpenditures
$2,617,373
$2,313,153
$2,064,502
$2,289,255
$2,524,805
$2,744,060
$2,932,404
$3,117,696
$3,321,678
$3,559,002
$0
$500,000
$1,000,000
$1,500,000
$2,000,000
$2,500,000
$3,000,000
$3,500,000
$4,000,000
2012 2013 2014 2015 2016 2017 2018 2019 2020 2021
Employees'Benefits/InsuranceBenefitsActualandProjected
‐0.39%
7.11%
‐15.0%
‐10.0%
‐5.0%
0.0%
5.0%
10.0%
15.0%
2012 2013 2014 2015 2016 2017 2018 2019 2020 2021
Year‐over‐YearExpenditureTrend
Year‐over‐YearExpenditureVariance Actual5‐YearAverage Projected5‐YearAverage
© Public Finance Resources, Inc. 2016
DeerParkCommunityCitySchools
3.030‐PurchasedServices
FY2016‐Pur 0
16
Amountspaidforpersonalservicesrenderedbypersonnelwhoarenotonthepayrolloftheschooldistrict,andotherserviceswhichtheschooldistrictmaypurchase.
Includedinthislineisa20%increaseinfleetandpropertyinsurancepremiums.Fiscalyear2014sawanincreaseof33%,whichwasuncharacteristicallyhighduetoafewhighdollarclaimstheDistricthashadoverthelastfewyears.Openenrollmentisanothercostprojectedtohaveadoubledigitincreasebasedonhistoricaldata.Preschoolserviceshaveincreasedsignificantlyduetoenrollmentnumbers.Lastly,itisimportanttonotethatspecialeducationcostsarealargepartofthislineitemandcanfluctuatedependingonastudent'shandicap,requiredservicecosts,andstudentmove‐ins.DeerParkworkshardtoserveeverystudentwithanappropriatelevelofservices.Unfortunately,costsvarywildlyfromstudenttostudent,whichmakesthispartofthecategoryparticularlydifficulttoforecast.Thiscategoryalsoincludes:maintenancecontracts,leasepurchasepaymentsforcopiers,district‐widetelephones,technologyoperations,professionaldevelopment,meeting/travelexpenses,legalservices,consultants,technicians,postage,printing,advertising,utilities.Expendituresinthislinearebasedonhistoricaltrends.
TheDistrictmovedbudgetallocationsforsubstituteteacherseffectiveinfiscalyear2013andsubstituteclassifiedemployeesinfiscalyear2015from3.010PersonnelServicestocategory3.030PurchasedServices,sincethesearenowservedthroughcontractedservices.Infiscalyear2018,budgetallocationshavebeenadjustedtoincludetwoadditionaleducationalaidesduetotheimplementationofalldaykindergarten.
19.6%
FY2016‐ PurchasedServicesasa%ofTotal
Expenditures
$2,297,699
$2,753,124
$2,847,471
$2,857,558
$2,858,221
$2,967,622
$3,106,689
$3,286,642
$3,447,870
$3,641,241
$0
$500,000
$1,000,000
$1,500,000
$2,000,000
$2,500,000
$3,000,000
$3,500,000
$4,000,000
2012 2013 2014 2015 2016 2017 2018 2019 2020 2021
PurchasedServicesActualandProjected
6.31%4.96%
0.0%
5.0%
10.0%
15.0%
20.0%
25.0%
2012 2013 2014 2015 2016 2017 2018 2019 2020 2021
Year‐over‐YearExpenditureTrend
Year‐over‐YearExpenditureVariance Actual5‐YearAverage Projected5‐YearAverage
© Public Finance Resources, Inc. 2016
DeerParkCommunityCitySchools
3.040‐Supplies&Materials
FY2016‐Sup 0
17
Expendituresforgeneralsupplies,instructionalmaterialsincludingtextbooksandmediamaterial,busfuelandtires,andallothermaintenancesupplies.
Asignificantportionofthislineitemconsistsoftextbookadoptions.Thelanguageartsserieswasonlypartiallypaidinfiscalyear2015,whichreducedsuppliesandmaterialsinthatyear.Theremainderofthelanguageartsserieswaspurchasedinfiscalyear2016alongwiththenewscienceseries.TheDistrictprojects$220,000infiscalyear2017(socialstudies),$175,000infiscalyear2018(electives),$200,000infiscalyear2019(math),and$150,000infiscalyear2020(English),and$200,000infiscalyear2021(science)fortextbookadoptions.Forecastedfiguresfortheseexpendituresarebasedonhistoricaltrends.
5.1%
FY2016‐ Supplies&Materialsasa%ofTotal
Expenditures
$321,735
$310,109
$695,582
$464,754
$748,062
$796,738
$793,728
$801,536
$755,315
$809,375
$0
$100,000
$200,000
$300,000
$400,000
$500,000
$600,000
$700,000
$800,000
$900,000
2012 2013 2014 2015 2016 2017 2018 2019 2020 2021
Supplies&MaterialsActualandProjected
25.30%1.70%
‐60.0%
‐40.0%
‐20.0%
0.0%
20.0%
40.0%
60.0%
80.0%
100.0%
120.0%
140.0%
2012 2013 2014 2015 2016 2017 2018 2019 2020 2021
Year‐over‐YearExpenditureTrend
Year‐over‐YearExpenditureVariance Actual5‐YearAverage Projected5‐YearAverage
© Public Finance Resources, Inc. 2016
DeerParkCommunityCitySchools
3.050‐CapitalOutlay
FY2016‐Cap 0
18
Thislineincludesexpendituresforitemshavingatleastafive‐yearlifeexpectancy,suchasland,buildings,improvementsofgrounds,equipment,computers/technology,furnishings,andbuses.
Amajorityofthislineitemisrelatedtotechnologyexpenses.TheDistricthas3.3millsofpermanentimprovementfundstousetowardscapitalimprovementprojectssothislineontheforecastisminimal.
0.6%
FY2016‐ CapitalOutlayasa%ofTotalExpenditures
$39,576
$15,154
$47,618
$70,209
$87,005
$64,891
$64,891
$64,891
$64,891
$64,891
$0
$10,000
$20,000
$30,000
$40,000
$50,000
$60,000
$70,000
$80,000
$90,000
$100,000
2012 2013 2014 2015 2016 2017 2018 2019 2020 2021
CapitalOutlayActualandProjected
54.27% ‐5.08%
‐100.0%
‐50.0%
0.0%
50.0%
100.0%
150.0%
200.0%
250.0%
2012 2013 2014 2015 2016 2017 2018 2019 2020 2021
Year‐over‐YearExpenditureTrend
Year‐over‐YearExpenditureVariance Actual5‐YearAverage Projected5‐YearAverage
© Public Finance Resources, Inc. 2016
DeerParkCommunityCitySchools
3.060‐4.060‐Intergovernmental&Debt
FY2016‐Inte 0
19
Theselinesaccountforpassthroughpayments,aswellasmoniesreceivedbyadistrictonbehalfofanothergovernmentalentity,plusprincipalandinterestpaymentsforgeneralfundborrowing.
DeerParkCommunityCitySchools'loanpaymentsfortheHB264EnergyConservationprojectcomeoutofthislineitem.Thesepaymentsarescheduledfortwelveyearsstartinginfiscalyear2014.Rememberthattheseloanpaymentsareprojectedtobeoffsetbytheenergysavingsfromtheprojectitself.Aftertherepaymentperiodthesavingswillgodirectlytowardsoffsettingotherdistrictcosts.Thecostrelatedtointerestontheloansislistedinline4.060.
0.3%
FY2016‐ Intergov&Debtasa%ofTotalExpenditures
$0 $0 $49,889
$49,878
$49,881
$50,000
$50,000
$50,000
$50,000
$50,000
$0
$10,000
$20,000
$30,000
$40,000
$50,000
$60,000
2012 2013 2014 2015 2016 2017 2018 2019 2020 2021
Intergovernmental&DebtServiceActualandProjected
0.00%
0.05%
‐0.1%
0.0%
0.1%
0.1%
0.2%
0.2%
0.3%
0.3%
2012 2013 2014 2015 2016 2017 2018 2019 2020 2021
Year‐over‐YearExpenditureTrend
Year‐over‐YearExpenditureVariance Actual5‐YearAverage Projected5‐YearAverage
© Public Finance Resources, Inc. 2016
DeerParkCommunityCitySchools
4.300‐OtherObjects
FY2016‐Oth 0
20
Primarycomponentsforthisexpenditurelinearemembershipduesandfees,ESCcontractdeductions,CountyAuditor/Treasurerfees,auditexpenses,andelectionexpenses.
EstimatesarebasedonhistoricaltrendsandincludeaslightincreaseinPropertyTaxCollectionFees.Thischangeisbasedontheincreasedcollectionsfromtherecentlypassedlevy.Infiscalyear2016,onlyhalfoftheyear'sfeeswerechargedtothisline.Theotherhalfarereflectedassimplyareductionontherealestatetaxlineoftheforecast.
1.1%
FY2016‐ OtherObjectsasa%ofTotalExpenditures
$221,902
$230,931
$215,477
$224,632
$154,680
$251,906
$261,743
$282,576
$283,982
$296,316
$0
$50,000
$100,000
$150,000
$200,000
$250,000
$300,000
$350,000
2012 2013 2014 2015 2016 2017 2018 2019 2020 2021
OtherObjectsActualandProjected
‐5.68%
15.91%
‐40.0%
‐20.0%
0.0%
20.0%
40.0%
60.0%
80.0%
2012 2013 2014 2015 2016 2017 2018 2019 2020 2021
Year‐over‐YearExpenditureTrend
Year‐over‐YearExpenditureVariance Actual5‐YearAverage Projected5‐YearAverage
© Public Finance Resources, Inc. 2016
DeerParkCommunityCitySchools
5.040‐TotalOtherFinancingUses
FY2016‐Oth 0
21
Operatingtransfers‐out,advancesouttootherfunds,andallothergeneralfundfinancinguses.
Thiscategoryrepresentstransactionsthatwithdrawmoneyfromonefund(commonlygeneralfund)andpermanentlyplaceitintoanotherforfundingpurposes.ProjectionshereweretypicallythoseofanannualsubsidytotheDistrict'sathleticprogramoperationalbudget,butwasjoinedinfiscalyear2012bytheSchool‐widePooltransfer.
Effectiveinfiscalyear2012,theDistrictwasgrantedpermissiontoadministera"School‐widePoolBuildingFund."TheSchool‐widePoolBuildingProgramallowsforthepoolingoffederal,state,andlocalfundstobeusedtoupgradetheoverallinstructionalprogramofaschoolbuildingwhereatleast40%ofchildrenarefromlow‐incomefamilies.Consequently,salariesandrelatedbenefitsofalldesignatedteachersatHolmesElementaryhavetobepaidoutofthisfund.Toaccomplishthis,generalfundmoneyneededtosubsidizethesetwoprogramshasbeentransferredtothefederalspecialrevenuefund.Forfiscalyear2016andbeyond,transferintoSchool‐widePoolarebasedonestimatedpayrollandbenefitsoftheregularteachingstaffatHolmesElementary.Thereisadecreaseinthislineforfiscalyear2016duetothethirdgrademovefromHolmesElementarytoAmityElementary.Thethirdgradeteachers'salariesandbenefitsarenowreflectedinlines3.010and3.020.
AlsoincludedinthiscategoryarereimbursementsreceivedthroughtheOhioMedicaidSchoolProgram(OMSP).ItisnotuntilOMSPrequestsactualcostsfromtheDistrictthatactualcostratesarecomputedtoarriveatthefigurethatOMSPmayoweorrequireadistricttopayback.
6.6%
FY2016‐ OtherFinancingUsesasa%ofTotal
Expenditures
$1,055,824
$1,529,849
$1,107,135
$1,369,546
$956,721
$992,282
$1,048,600
$1,069,217
$1,090,266
$1,111,755
$0
$200,000
$400,000
$600,000
$800,000
$1,000,000
$1,200,000
$1,400,000
$1,600,000
$1,800,000
2012 2013 2014 2015 2016 2017 2018 2019 2020 2021
OtherFinancingUsesActualandProjected
50.50% 3.06%
‐50.0%
0.0%
50.0%
100.0%
150.0%
200.0%
250.0%
300.0%
2012 2013 2014 2015 2016 2017 2018 2019 2020 2021
Year‐over‐YearExpenditureTrend
Year‐over‐YearExpenditureVariance Actual5‐YearAverage Projected5‐YearAverage
© Public Finance Resources, Inc. 2016
DeerParkCommunityCitySchools
ForecastCompareComparisonofPreviousForecastAmountstoCurrentForecastedNumbersF.Y.2017
Column A Column B Column C Column D
Previous Current Dollar PercentForecast Forecast Difference Difference
Amounts For Amounts For Between Between
F.Y. 2017 F.Y. 2017 Previous PreviousPrepared on: Prepared on: and and
Revenue: 05/20/2016 10/14/2016 Current Current
1 Real Estate & Property Allocation $10,046,163 $9,958,561 ‐$87,602 ‐0.9%2 Public Utility Personal Property $938,791 $993,566 $54,775 5.8%3 Income Tax $0 $0 $0 n/a4 State Foundation Restricted & Unrestricted $3,638,995 $3,750,451 $111,456 3.1%5 Other Revenue $945,031 $943,714 ‐$1,317 ‐0.1%6 Other Non Operating Revenue $3,000 $26,801 $23,801 793.4%7 Total Revenue $15,571,980 $15,673,093 $101,113 0.6%
Expenditures:
8 Salaries $7,554,305 $7,686,935 $132,630 1.8%
9 Fringe Benefits $2,680,809 $2,744,060 $63,251 2.4%
10 Purchased Services $3,351,093 $2,967,622 ‐$383,471 ‐11.4%
11 Supplies, Debt, Capital Outlay & Other $1,135,456 $1,163,535 $28,079 2.5%
12 Other Non Operating Expenditures $1,128,931 $992,282 ‐$136,649 ‐12.1%
13 Total Expenditures $15,850,594 $15,554,434 ‐$296,160 ‐1.9%
14 Revenue Over/(Under) Expenditures ‐$278,614 $118,659 $397,273 2.5%*
15 Ending Cash Balance $9,142,515 $9,835,532 $693,017 4.4%*
*Percentageexpressedintermsoftotalexpenditures
22
ComparedtotheforecastcompletedinMay,theDistrictisprojectinganincreaseinrevenueandadecreaseinexpenditures.ThiscombinationofincreasedrevenueanddecreasedexpendituresmeansthattheDistrictanticipatesagreatercashbalanceandthepushestheneedforthenextoperatinglevyoutfurtherintothefuture.
© Public Finance Resources, Inc. 2016
DeerParkCommunityCitySchools
Actual FORECASTEDFiscalYear: 2016 2017 2018 2019 2020 2021
Revenue:1.010‐GeneralPropertyTax(RealEstate) 9,101,584 8,818,993 8,958,573 8,991,219 8,993,874 9,022,3331.020‐PublicUtilityPersonalProperty 948,193 993,566 1,045,972 1,100,474 1,138,883 1,184,6071.030‐IncomeTax ‐ ‐ ‐ ‐ ‐ ‐1.035‐UnrestrictedGrants‐in‐Aid 3,590,461 3,618,292 3,758,208 3,938,617 4,133,817 4,331,6141.040‐RestrictedGrants‐in‐Aid 110,984 132,159 136,056 137,021 136,378 137,1011.045‐RestrictedFederalGrants‐SFSF ‐ ‐ ‐ ‐ ‐ ‐1.050‐PropertyTaxAllocation 1,145,605 1,139,568 1,142,928 1,145,139 1,144,870 1,147,4521.060‐AllOtherOperatingRevenues 961,522 943,714 933,214 923,214 913,214 903,214
1.070‐TotalRevenue 15,858,350 15,646,293 15,974,951 16,235,684 16,461,036 16,726,320OtherFinancingSources:2.010‐ProceedsfromSaleofNotes ‐ ‐ ‐ ‐ ‐ ‐2.020‐StateEmergencyLoansandAdv ‐ ‐ ‐ ‐ ‐ ‐2.040‐OperatingTransfers‐In ‐ ‐ ‐ ‐ ‐ ‐2.050‐Advances‐In 81,346 ‐ ‐ ‐ ‐ ‐2.060‐AllOtherFinancingSources 17,897 26,801 3,000 3,000 ‐ ‐2.070‐TotalOtherFinancingSources 99,243 26,801 3,000 3,000 ‐ ‐
2.080‐TotalRev&OtherSources 15,957,593 15,673,093 15,977,951 16,238,684 16,461,036 16,726,320Expenditures:
3.010‐PersonnelServices 7,184,698 7,686,935 8,022,878 8,298,878 8,608,103 9,024,9073.020‐EmployeeBenefits 2,524,805 2,744,060 2,932,404 3,117,696 3,321,678 3,559,0023.030‐PurchasedServices 2,858,221 2,967,622 3,106,689 3,286,642 3,447,870 3,641,241
3.040‐SuppliesandMaterials 748,062 796,738 793,728 801,536 755,315 809,3753.050‐CapitalOutlay 87,005 64,891 64,891 64,891 64,891 64,891
3.060‐Intergovernmental ‐ ‐ ‐ ‐ ‐ ‐
DebtService:
4.010‐Principal‐AllYears 39,349 ‐ ‐ ‐ ‐ ‐
4.020‐Principal‐Notes ‐ ‐ ‐ ‐ ‐ ‐4.030‐Principal‐StateLoans ‐ ‐ ‐ ‐ ‐ ‐
4.040‐Principal‐StateAdvances ‐ ‐ ‐ ‐ ‐ ‐4.050‐Principal‐HB264Loan ‐ 40,400 41,400 42,400 43,400 44,4004.055‐Principal‐Other ‐ ‐ ‐ ‐ ‐ ‐4.060‐InterestandFiscalCharges 10,532 9,600 8,600 7,600 6,600 5,6004.300‐OtherObjects 154,680 251,906 261,743 282,576 283,982 296,316
4.500‐TotalExpenditures 13,607,352 14,562,152 15,232,333 15,902,218 16,531,840 17,445,733OtherFinancingUses5.010‐OperatingTransfers‐Out 944,024 978,406 998,600 1,019,217 1,040,266 1,061,7555.020‐Advances‐Out ‐ ‐ ‐ ‐ ‐ ‐5.030‐AllOtherFinancingUses 12,697 13,876 50,000 50,000 50,000 50,0005.040‐TotalOtherFinancingUses 956,721 992,282 1,048,600 1,069,217 1,090,266 1,111,755
5.050‐TotalExpandOtherFinancingUses 14,564,073 15,554,434 16,280,933 16,971,436 17,622,105 18,557,4876.010‐ExcessofRevOver/(Under)Exp 1,393,520 118,659 (302,983) (732,752) (1,161,070) (1,831,167)7.010‐CashBalanceJuly1(NoLevies) 8,323,353 9,716,873 9,835,532 9,532,549 8,799,797 7,638,7277.020‐CashBalanceJune30(NoLevies) 9,716,873 9,835,532 9,532,549 8,799,797 7,638,727 5,807,5608.010‐EstimatedEncumbrancesJune30 238,895 238,895 238,895 238,895 ‐ ‐9.080‐ReservationsSubtotal ‐ ‐ ‐ ‐ ‐ ‐
10.010‐FundBalJune30forCertofApp 9,477,978 9,596,637 9,293,654 8,560,902 7,638,727 5,807,560RevfromReplacement/RenewalLevies11.010&11.020‐Income&PropertyTax‐Renewal ‐ ‐ ‐ ‐ ‐11.030‐CumulativeBalanceofLevies ‐ ‐ ‐ ‐ ‐ ‐
12.010‐FundBalJune30forCertofObligations 9,477,978 9,596,637 9,293,654 8,560,902 7,638,727 5,807,560RevenuefromNewLevies
13.010&13.020‐Income&PropertyTax‐New ‐ ‐ ‐ ‐ ‐13.030‐CumulativeBalanceofNewLevies ‐ ‐ ‐ ‐ ‐ ‐
15.010‐UnreservedFundBalanceJune30 9,477,978 9,596,637 9,293,654 8,560,902 7,638,727 5,807,560
23
© Public Finance Resources, Inc. 2016
Recommended