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Middletown City Schools 2014 Five-Year Financial Forecast Presentation by Treasurer Kelley Thorpe

On May 5, 2014, Kelley Thorpe, Treasurer of the Middletown City School District, presented the updated Five-Year Forecast. This presentation highlights current financial projections amidst pending negotiations and programmatic changes. Key pieces of essential information are still needed to complete the financial picture, emphasizing the importance of collaboration and transparency in planning for the district's future.

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Middletown City Schools 2014 Five-Year Financial Forecast Presentation by Treasurer Kelley Thorpe

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  1. Middletown City School District

    Five-Year Forecast Presentation Kelley Thorpe, Treasurer Presented May 5, 2014
  2. May 2014 Five-Year Forecast UPDATE Still missing some critical and necessary information Pieces of the puzzle – Negotiations and programmatic changes Forecast is designed to be a fluid document that can be modified with changes in the economic environment Does not represent the entire financial picture – only considers the General Fund
  3. Forecast Assumptions Revenues: This forecast assumes small operating revenue increase for FY15; but not beyond Increase from ODE is planned Decrease in property values and real estate taxes
  4. Forecast Assumptions Expenditures: This forecast assumes a slight decrease in expenses All budget managers given a 2% reduction for FY15 Increase in severance due to retirements (STRS Changes) Have Included a 12% increase for health insurance for FY15 and 15% increase for outlying years
  5. Revenue Details
  6. Revenue Details
  7. Expenditure Details
  8. Expenditure Details
  9. Comparison to October
  10. Bottom Line Important Puzzle Pieces: 1. In negotiations with MTA; no increases to base salary included in this forecast 2. Tomorrow’s election; if fail – will need to increase expenses for maintenance/repairs 3. Programmatic changes – know we need to do something different with alternative education due to Union Day closing – but decisions have not yet been finalized
  11. Questions
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