1. CRESTWOOD LOCAL SCHOOL DISTRICT FIVE YEAR FORECAST
October 2017

2. CRESTWOOD LOCAL SCHOOLS FIVE YEAR FORECAST
The five-year forecast was created by the 122nd General Assembly in
via Am. Sub. H.B 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.

3. CRESTWOOD LOCAL SCHOOLS FIVE YEAR FORECAST
The Budget for Crestwood Local Schools is approximately $23.5 Million – All Funds
The General Fund Budget is approximately $20 Million
The total number of employees in the district = 238 (Fiscal Year 2018)
127 Certified Staff Members
90 Classified Staff Members
7 Exempt Staff Members
14 Administrators

4. 2017
Actual
2018
Forecasted
2019
2020
2021
2022
$20,764,219
$20,292,104
$19,950,000
$19,250,000
$18,550,000

5. Property Tax Line 1.010
- Collections are certified to the District by the County Auditor annually.
- The Decrease in 2021 and 2022 can be attributed to the Emergency Levy Renewal. The property tax line will be reduced by ½ of the Emergency Levy ($700,000) in and the full amount ($1,400,000) in 2022 if this levy is not renewed. This amount is reflected as being renewed in line
2017
Actual
2018
Forecasted
2019
2020
2021
2022
$6,383,434
$6,419,496
$6,400,000
$5,700,000
$5,000,000

6. Property Tax Line 1.010
- The last collections on the Emergency Levy – Renewal will be calendar year 2020.
- This levy can be renewed during May or November 2019 or any election in 2020.
2017
Actual
2018
Forecasted
2019
2020
2021
2022
$6,383,434
$6,419,496
$6,400,000
$5,700,000
$5,000,000

7. Tangible Personal Property Tax
Line 1.020
- This line represents Public Utility Property Tax the District receives.
- Also included in this line is delinquencies received for inventory tax payments. The Inventory Tax was eliminated in Fiscal Year 2012.
- There are delinquencies outstanding in Real Estate Collections and Inventory Tax Collections, and the County Treasurer and Prosecutor are involved in collecting these delinquencies.
2017
Actual
2018
Forecasted
2019
2020
2021
2022
$653,790
$600,000
$620,000

8. Unrestricted State Grants-in-Aid
Line 1.035
- This line represents the money received from the State of Ohio and Casino Revenue.
- HB 49 – Current Budget Bill
- Losses due to enrollment decline and guaranteed funding.
- HB 49 as approved June 30, 2017 has losses of nearly ($273,000) per year.
2017
Actual
2018
Forecasted
2019
2020
2021
2022
$10,580,671
$10,348,790
$10,345,000

9. Unrestricted State Grants-in-Aid Line 1.035
Total State Aid Approximately $10.3 Million
Guarantee Funds Approximately $4.2 Million
42% of State Aide is guaranteed funds
Guaranteed Money reflects money that was added to the formula amount to give the District what it received in FY 2015 less a formula amount decrease for enrollment losses.
Guaranteed Money is money the District should not be receiving if it was truly on the formula.
The guarantee has been fluctuating between 40% to 42% with each payment.

11. Property Tax Allocation
Line 1.050
This line represents Homestead and Rollback discounts received through the State.
Every residential and agricultural property owner receives a 10% rollback (discount) off of their tax bill.
Owner-occupied property owners receive a 2.5% rollback (discount) off of their tax bill.
The District will only see this reimbursement from the State for levies passed prior to November 2013.
Senior citizens can apply and receive a Homestead Exemption (reduction in real estate taxes)
2017
Actual
2018
Forecasted
2019
2020
2021
2022
$1,009,896
$1,000,000

12. All Other Revenue
Line 1.060
- This line represents revenue from open enrollment students - in, pay to participate revenue, interest, Medicaid revenue, and excess cost revenue.
- The increase in FY 2017 can be attributed to the District receiving 2 payments for excess costs (FY 2015 and FY 2016). Excess costs are costs incurred by the District for non-resident kids, in special education, that are costly.
2017
Actual
2018
Forecasted
2019
2020
2021
2022
$1,896,329
$1,695,000
$1,410,000

13. 2017
Actual
2018
Forecasted
2019
2020
2021
2022
$20,089,882
$20,302,455
$21,115,156
$21,761,268
$22,437,433
$23,159,496

14. Personal Services Line 3.010
- Payroll – Includes a 2% base increase for FY 2017, FY 2018, and Step increases are included for all years of the forecast.
- The District analyzes staffing levels each year due to the enrollment losses.
- FY 2013 Certified FTE = / FY 2018 Certified FTE = 127
2017
Actual
2018
Forecasted
2019
2020
2021
2022
$11,141,762
$11,181,314
$11,576,379
$11,780,347
$11,950,484
$12,126,582

15. Employees’ Retirement/Insurance Benefits - Line 3.020
- This line represents retirement, insurance, unemployment, workers compensation, and Medicare expenses
- Retirement, Medicare and workers compensation are 15.85% of the personal services costs
- Insurance increases were 15% for FY 2017, 9.2% for FY 2018 and forecasted at 12% for FY
2017
Actual
2018
Forecasted
2019
2020
2021
2022
$4,714,187
$4,866,344
$5,299,007
$5,696,253
$6,156,472
$6,655,971

16. Loans – Principal & Interest
Line & Line 4.060
- This line represent debt payments (lease purchase agreement) for upgrades at the Middle School and High School.
- New boilers, new univents, lighting upgrades, elevator upgrade.
- Equipment will be repurposed if a bond issue for a new facility passes.
- School Districts are not allowed to take out debt. A lease purchase option – the equipment was put up for collateral – was the only way to take out debt. The State of Ohio placed a moratorium on lease purchase agreements to review the program. Lease purchases are currently allowed again but District’s have been advised by legal council to not consider this as a viable option as they will likely be rejected by the State upon final approval.
2017
Actual
2018
Forecasted
2019
2020
2021
2022
$253,928
$235,928
$253,982
$254,024
$254,003
$254,016

17. Line 6.010 – Current Year Spending
Actual
Forecasted (without emergency levy)
2015
2016
2017
2018
2019
2020
2021
2022
655,949
611,128
674,337
(10,351)
(1,165,156)
(1,811,268)
(3,187,433)
(4,609,496)
Forecasted (with emergency levy)
(2,487,433)
(3,209,496)

18. Forecasted (with emergency levy)
Line – Cash Balance
Actual
Forecasted (with emergency levy)
2015
2016
2017
2018
2019
2020
2021
2022
2,896,608
3,459,807
4,208,960
4,252,269
3,087,113
1,275,844
(1,211,589)
(4,421,085)

19. Portage County Schools - Outlook
*6.010 Excess Rev & Oth Financing Sources over(under) Exp & Oth Financing
PORTAGE COUNTY SCHOOL DISTRICT
2017
2018
2019
2020
2021
CRESTWOOD
674,337
(10,351)
(1,165,156)
(1,811,268)
(3,187,433)
AURORA
84,435
341,468
1,360,988
636,409
(1,888,703)
FIELD
(222,293)
(1,759,386)
(2,699,770)
(5,121,173)
(7,407,643)
JAMES A. GARFIELD
(614,922)
(1,188,993)
(1,387,240)
(2,330,373)
(2,887,223)
KENT CITY
2,499,580
85,915
(1,405,965)
(3,572,012)
(6,010,113)
MAPLEWOOD CAREER CENTER
(1,175,813)
(286,602)
(54,599)
(524,820)
(1,030,487)
RAVENNA CITY
2,103,091
100,018
(2,031,299)
(3,576,881)
(4,875,755)
ROOTSTOWN
170,058
(810,452)
(1,792,761)
(2,613,530)
(3,898,265)
SOUTHEAST
(1,307,248)
(3,852,885)
(3,915,119)
(5,160,133)
(5,334,633)
STREETSBORO
(144,261)
(1,172,764)
(1,701,880)
(2,413,966)
(4,985,694)
WATERLOO
368,308
(383,249)
(1,271,060)
(2,224,356)
(2,680,016)
WINDHAM
(332,742)
(350,557)
(1,031,286)
(1,446,201)
(2,118,264)
* 5-year forecasts are public record and available on the Ohio Department of Education website
Direct Link to Portage County forecasts -
Notes to 5-year forecasts
ftp://ftp.ode.state.oh.us/geodoc/5-yrForecast

20. Crestwood Local School District
Questions -