CRESTWOOD LOCAL SCHOOL DISTRICT FIVE YEAR FORECAST May 2018

CRESTWOOD LOCAL SCHOOLS FIVE YEAR FORECAST The five-year forecast was created by the 122nd General Assembly in 1997-98 via Am. Sub. H.B. 412. It serves three primary purposes: To provide a standardized tool for long range planning at the local level. To serve as a basis for determining a district’s ability to sign the “412” certificate. To provide a method for the Ohio Department of Education and the Auditor of State to identify districts headed toward financial difficulties. Statutorily, we are required to update this model bi-annually. The first filing shall be on or before October 31st and the second filing shall be between April 1st and May 31st of each fiscal year.

2017 Actual 2018 Forecasted 2019 2020 2021 2022 20,764,219 20,366,430 20,036,789 19,950,000

2017 Actual 2018 Forecasted 2019 2020 2021 2022 20,764,219 20,366,430 20,036,789 19,950,000 19,250,000 18,550,000

Taxes – Lines 1.010, 1.020, 1.050 2017 Actual 2018 2019 Forecasted 2020 2021 2022 Real Estate Taxes (1.010) 6,383,434 6,393,408 6,451,789 6,400,000 5,700,000 5,000,000 Public Utility Taxes (1.020) 653,790 687,447 630,000 620,000 H&R Taxes (1.050) 1,009,896 1,012,722 1,010,000 1,000,000 Totals 8,047,120 8,093,577 8,091,789 8,020,000 7,320,000 6,620,000

Money Received From the State of Ohio – Lines 1.035, 1.040 2017 Actual 2018 Forecasted 2019 2020 2021 2022 Regular Money (1.035) 10,580,671 10,348,790 10,371,000 Restricted Money (1.040) 162,287 175,000 149,000 Totals 10,742,958 10,523,790 10,520,000

Historical: Caps and Guarantees   FY14 FY15 FY16 FY17 FY18 Total Funding $6.60 billion $7.03 $7.47 $7.77 $7.93 # of Districts Capped 341 236 188 151 191 # of Districts Guaranteed 199 174 131 332

TOTAL REVENUE – FY 2018

2017 Actual 2018 Forecasted 2019 2020 2021 2022 20,089,882 20,372,455 19,692,195 20,208,328 20,885,788 21,612,799

Payroll & Benefits – Lines 3.010, 3.020 2017 Actual 2018 Forecasted 2019 2020 2021 2022 Payroll (3.010) 11,141,762 11,181,314 10,744,911 10,835,516 10,922,696 11,147,615 Retirement, Health Ins, Work Comp, Medicare (3.020) 4,714,187 4,866,344 4,898,974 5,207,037 5,606,073 6,065,499 Totals 15,855,949 16,047,658 15,643,885 16,042,553 16,598,769 17,213,114

Other Expenses – Lines 3.030, 3.040, 3.050, 4.050, 4.060, 4.300 2017 Actual 2018 Forecasted 2019 2020 2021 2022 Purchased Services 2,774,423 2,921,840 2,917,785 3,016,990 3,119,567 3,213,154 Supplies 676,312 706,700 688,050 694,931 701,880 708,899 Other 693,115 636,257 442,475 453,855 465,572 477,623 Totals 4,143,850 4,264,797 4,048,310 4,165,775 4,287,019 4,399,685

TOTAL EXPENSES – FY 2018

Line 6.010 – Current Year Spending Actual Forecasted (with emergency levy) 2015 2016 2017 2018 2019 2020 2021 2022 655,949 611,128 674,337 (6,026) 344,594 (258,328) (935,788) (1,622,799)

Line 12.010 – Cash Balance (Savings Account) Actual Forecasted (with emergency levy) 2015 2016 2017 2018 2019 2020 2021 2022 2,896,608 3,459,807 4,208,960 4,256,594 4,601,188 4,342,860 3,407,072 1,744,273

SUMMARY Fiscal Year 2022 – Cash Balance (Savings Account) $1.7 Million This represents 29 days of operating expenses Deficit spending is still occurring Biennial Budget Uncertainties Enrollment Losses Action Items Further Cuts Increase Revenue (Levy) Consolidation of Buildings Board / Administrator/ Teachers/ Community – Plan for the Future