Five Year Forecast (General Fund)

1. Milford EVSD Five Year Forecast(General Fund) Fiscal Years 2015 through 2019

2. Projected Five Year Forecast(thousands)

3. Milford EVSD Estimated Revenues 2015 - 2019

4. Milford EVSD

5. Milford EVSD Real Estate Taxes • Current total tax base is $875,940,530 • Current voted millage is 74.5 mills and the effective millage is 39.09 mills for residential and 49.23 mills for commercial • Collections of $39.41 million for both real estate taxes and homestead and rollback

6. State Formula Milford State Share Index • GUARANTEE • FUNDING FORMULA • CAP Foundation Funding Components

7. Milford EVSD Unrestricted Grants in AidState Funding 20152nd year of Biennium Budget Total State Funding Formula w/o Cap $ 21,544,430 Total State Funding Formula w/ Cap $ 18,931,000 Transportation Special Education 380,000 Preschool Special Education 223,000 Total State Funding 2015 $19,534,000

8. Milford EVSD Property Tax Allocation • Homestead and Rollback $4,300,000 • Current State TPP Reimbursed $ 443,800

9. Milford EVSD Restricted Grants in Aid • Catastrophic Aide 1,000,000

10. Milford EVSD Other State Receipts • E-Rate 95,000 • Medicare Reimbursement 200,000 • Casino 300,000

11. Milford EVSD Other Local Receipts • Revenue In-lieu-of Taxes $2,275,000 • Athletic & Activities Fees 135,000 • Tuition 323,000 • Open Enrollment 550,000 • Rental of Facilities 85,000 • Administration of Auxiliary Program 15,000 • Other 375,000

12. Milford EVSD

13. Milford EVSD Estimated Expenditures 2015-2019

14. Milford EVSD Total Appropriations 2015by Object • Salaries $32,103,900 • Benefits 12,148,900 • Purchased Services 13,619,632 • Supplies and Materials 3,009,704 • Capital Outlay 447,925 • Other Expenditures 971,650

15. Milford EVSD Salaries and Benefits Increases: • Fiscal Year 2015 – 2% Raise • Fiscal Year 2016 – 1.75% Raise • Fiscal Year 2017 – 1.75% Raise • Fiscal Years 15-19 (2%) Steps • Class sizes were used to estimate staffing needs 2015- 2019 • Health Insurance increase 7% as of 1/1/15. • Annual insurance increases 7% through 2019

16. Milford EVSD Purchased Services$13,619,700 Major Areas of Expenditures 2015: • Contracted Bus Services 4,900,000 • Tuition – Private, Special Education, Community Open Enrollment 4,644,988 Post Secondary • Utilities: Telephone141,000 Electric1,019,500 Water and Sewage108,300 Gas 171,300 • Sub Teachers500,000 • Professional and Technical Services245,400 • Data Processing Services304,500 • 2016 – 2019 4% increase annually

17. Milford EVSD Supplies & Materials$3,009,700 Major Areas of Expenditures: • Textbooks $1,274,000 • Fuel 481,000 • Instructional 279,481 • Building Maintenance 386,000 • Instructional Software & computer supplies 335,453 • 2016-2019 3% increase annually

18. Milford EVSD Capital Outlay$447,900 Areas of Expenditures Equipment $ 142,900 Technical Equipment $ 305,000

19. Milford EVSD Other Expenditures$971,600 Major Areas of Expenditures County Board of Education $130,000 Property Tax Collection Fees $ 530,000

20. Milford EVSD

21. Projected Five Year Forecast(thousands)

22. Milford EVSD Questions