How did we end FY17? Fiscal Year (FY) 17 ended June 30, 2017

General Fund

Beginning Balance - $202,073

Revenue - $20,072,743

Expenditures - $20,020,787

Excess - $51,956

Ending Balance - $254,029

Healthy Ending Balance would be 60 days of operating = $3,300,000

Why are we struggling financially?

1. Medical Insurance

Insurance companies look at claims to premium ratio when renewing policies. Gallipolis City Schools’ policy renews in

January. The ideal ratio for 0 increase is 82%. With this being the first year with Anthem, they call this an “immature”

year since they only have 9 months of data to compute the renewal. Trend data is used to make a renewal projection.

Claims Premiums

Feb $77,094 $491,723

March $528,879 $245,337

April $220,970 $245,389

May $222,920 $244,732

June $151,542 $231,347

July $472,943 $227,917

August $155,428 $235,381

September ?????

Totals $1,829,776 $1,921,826

95%

FY18 QUARTER 1 (July 1-October 31, 2017)

In August using only data through July, Anthem projected our

renewal at 30% insurance increase which would cost

approximately an additional $725,000 per calendar year.

Seriously, what can I do to help contain insurance costs?

Utilize anthem.com website to manage insurance

Do your research on procedures and prescriptions (price compare)

Practice preventive and self-care

Maintain healthy living (Exercise/Reduce stress)

Be happy! A review of more than 200 studies found that positive

psychological well-being is linked with a lower risk of heart disease, lower

blood pressure and stronger immune system.

Funding Enrollment

Please bear with us during this difficult time as decisions are made to become financially stable.

FISCAL FLASH

2. Enrollment

Enrollment continues to be a major concern. The State funding formula is based on student enrollment. Currently, we

are down 34 students from last May which equals approximately $110,500.

We are not alone…

Other Ohio Districts are finding their expenditures are meeting or exceeding their revenue. The difference between us

and other districts are that other districts had a larger carryover and have not depleted their carryover funds yet.

Gallipolis City School District has functioned with a modest carryover from year to year to provide the best education

possible to our students.

Us Gallia Local Jackson City Oak Hill Meigs Wellson

FY17 Revenue 20,072,743 26,991,135 22,736,300 13,918,391 21,536,789 17,237,548

FY17 Expenditures 20,020,787 28,014,518 22,719,786 13,801,307 20,817,032 17,115,861

Excess 51,956 (1,023,383) 16,514 117,084 719,757 121,687

$9,367,785Carryover from

Previous Year$202,067 $6,445,374 $10,476,328 $7,842,870 $3,580,639

With the rise of virtual schools,

we must compete for our

students’ enrollment. Families

have more options than ever

before as to where or how to

gain an education. In order to

survive, we must attract our

students to stay in our district.

Most Ohio districts have seen a decline in

enrollment over the past 5 years.

1950

2000

2050

2100

2150

2200

2250

Gallipolis City Schools' Enrollment

Important Update: Last spring we were released from Fiscal Caution by the Ohio Department of Education.

After receiving our year end financials, Ohio Department of Education contacted the district on September 28,

2017. The district has provided an update on our current financial status. The department will be checking on the

district at the end of October once insurance renewals are provided and the October 5-Year Forecast is submitted.

Data for other districts taken

from May 2017 Projected

5-Year Forecast

which can be found at:

http://fyf.oecn.k12.oh.us