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USASFF Five year forecast spreadsheets

USASFF Five year forecast spreadsheets. Presented by ACCESS Oct. 7, 2011. O.R.C. and O.A.C Requirements. Five Year Forecast required of all city, local, exempted village school districts, and joint vocational O.R.C 5705.391 and O.A.C. 3301-92-04

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USASFF Five year forecast spreadsheets

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  1. USASFF Five year forecast spreadsheets Presented by ACCESS Oct. 7, 2011

  2. O.R.C. and O.A.C Requirements • Five Year Forecast required of all city, local, exempted village school districts, and joint vocational • O.R.C 5705.391 and O.A.C. 3301-92-04 • require a BOE to submit a five year projection of operational revenues and expenditures along with assumptions to ODE prior to October 31 of each fiscal year and to update this forecast between April 1 and May 31 of each fiscal year ODE "How to Read a Five Year Forecast"

  3. Five Year Forecast • Five Year Forecast consists of three years of historical data, projections for the current year and four ensuing years, the ADM forecast and a summary of key assumptions • Required Funds to be included • General funds (001) • Emergency Levy funds (016) • Any debt service that would otherwise have gone to general fund (002) • Poverty Based Assistance funds (494) • Education Jobs (504) • State Fiscal Stabilization fund (532) ODE "How to Read a Five Year Forecast"

  4. Purpose/objective of Five year Forecast • Engage the local BOE and community in long range planning and discussions of financial issues facing the school district • Serve as a basis for determining the school district’s ability to sign the certificate required by O.R.C. 5705.412, commonly known as “412 certificate” • Provide a method for the Department of Education and Auditor or State to identify school districts with potential financial problems ODE "How to Read a Five Year Forecast"

  5. Key Lines • Five year forecast is divided into two sections • Revenues • Expenditures • Expenditures are mainly • Salary and wages • Benefits • Purchase services • Revenue is made up of two main sources • Local • State ODE "How to Read a Five Year Forecast"

  6. Line-by-line explanationGeneral REvenue • 1.010 General Property Taxes • Taxes levied by a school district by the assessed valuation of real property located within the school district • Receipt codes: 1110 through 1119 ODE "How to Read a Five Year Forecast"

  7. Line-by-line explanationGeneral revenue • 1.020 Tangible Personal Property Tax • Businesses pay the ‘tangible personal property tax’ on equipment or supplies/materials of which they own. • Receipt Codes: 1120, 1121, 1122 ODE "How to Read a Five Year Forecast"

  8. Line-by-line explanationgeneral revenue • 1.030 Income Tax • In the past, income tax for schools was paid by individuals residing in the school district, estates of school district residents, and unincorporated businesses located in the school district that file Ohio individual income tax returns. With the passage of HB66, however, school districts are not permitted to levy a school district income tax against an alternative tax base that includes only earned income and self-employment income • Receipt codes: 1130 ODE "How to Read a Five Year Forecast"

  9. Line-by-line explanationgeneral revenue • 1.035 Unrestricted Grants-in-Aid • Funds received through the State Foundation Program with no restriction. The foundation formula is the primary vehicle which the Ohio legislature uses to determine how much state aid each school district is to receive. • Receipt Codes: All 3100’s except 3130 ODE "How to Read a Five Year Forecast"

  10. Line-by-line explanationgeneral revenue • 1.040 Restricted Grants-in-Aid • Funds received through the State Foundation Program or other allocations that are restricted for specific purposes. Examples include bus purchase allocation, career-technical funds, and all poverty based assistance funds. • Receipt Codes: all 3200’s ODE "How to Read a Five Year Forecast"

  11. Line-by-line explanationgeneral revenue • 1.045 Restricted Federal Grants-in-Aid-SFSF • Funds received through the State Foundation Program which are State Fiscal Stabilization Funds and Education Jobs that are restricted for specific purposes. • All receipts to funds 532 and 504 ODE "How to Read a Five Year Forecast"

  12. Line-by-line explanationgeneral revenue • 1.050 Property Tax Allocation • This line includes funds received for Tangible Personal Property Tax Reimbursement, Electric Deregulation, Homestead and Rollback, and the “ten thousand dollar exemption” where businesses are exempt from paying the first $10,000 of property tax and the district is reimbursed through state funding. • Receipt codes: 3130 ODE "How to Read a Five Year Forecast"

  13. Line-by-line explanationgeneral revenue • 1.060 All Other Operating Revenue • Operating revenue sources not included above. Examples include but are not limited to tuition, fees, earnings on investments, rentals, and donations. • Receipt codes: All other receipt codes EXCEPT • 1931 • 1933 • 1940 • 1950 • 5100 • 5200 ODE "How to Read a Five Year Forecast"

  14. Line-by-line explanationgeneral revenue • 1.070 Total Revenue • The sum of General Revenue lines 1.010 through 1.060 ODE "How to Read a Five Year Forecast"

  15. Line-by-line explanationother financing sources • 2.010 Proceeds From Sale of Notes • Receipt Codes: 1940 • 2.020 State Emergency Loans & Advancements (Approved) • Receipt Codes: 1950 ODE "How to Read a Five Year Forecast"

  16. Line-by-line explanationother financing sources • 2.040 Operating Transfers-in • Permanent movement of monies between funds • Receipt Codes: 5100 • 2.050 Advances-in • Temporary movement of monies between funds • Receipt codes: 5200 ODE "How to Read a Five Year Forecast"

  17. Line-by-line explanationother financing sources • 2.060 All other Financing Sources • Sale and Loss of Assets • Refund of Prior Year expenditures • Receipt Codes: 1931, 1933, & all 5000’s EXCEPT 5100 and 5200 ODE "How to Read a Five Year Forecast"

  18. Line-by-line explanationother financing sources • 2.070 Total Other Financing Sources • The sum of lines 2.010 and 2.060 • 2.080 Total Revenue and Other Financing Sources • The sum of lines 1.070 (Total General Revenue) and 2.070 (Total Other Financing Sources) ODE "How to Read a Five Year Forecast"

  19. Line-by-line explanationExpenditures • 3.010 Personal Services • Employee salaries and wages, including extended time, severance pay, supplemental contracts, etc. • Object Codes: 100 through 199 ODE "How to Read a Five Year Forecast"

  20. Line-by-line explanationExpenditures • 3.020 Employees’ Retirement and Insurance Benefits • Retirement for all employees, Workers Comp., early retirement incentives, Medicare, unemployment, pickup on pickup, and all health-related insurances • Object Codes: 200 through 299 ODE "How to Read a Five Year Forecast"

  21. Line-by-line explanationExpenditures • 3.030 Purchased Services • Amounts paid for personal services rendered by personnel who are not on the payroll of the school district, and other services which they school district may purchase. Examples include but are not limited to legal fees, maintenance agreements, utilities, and tuition paid for students attending other school districts, including open enrollment and community schools • Object Codes: 400 through 499 ODE "How to Read a Five Year Forecast"

  22. Line-by-line explanationExpenditures • 3.040 Supplies and Materials • Examples include but are not limited to general supplies, instructional materials including textbooks and media materials, bus fuel and tires, and all other maintenance supplies • Object Codes: 500 through 599 ODE "How to Read a Five Year Forecast"

  23. Line-by-line explanationExpenditures • 3.050 Capital Outlay • This line includes expenditures for items having at least a five-year life expectancy, such as land, buildings, improvements of grounds, equipment, computers/technology, furnishings, buses, and vehicles • Object Codes: 600 through 799 ODE "How to Read a Five Year Forecast"

  24. Line-by-line explanationExpenditures • 3.060 Intergovernmental • While very rarely used in forecasts, this line accounts for pass through payments, as well as monies received by a school district that will be spent by the school district on behalf of another government. This does not include purchased services from other government agencies such as ESCs. • Object Codes: Any Object with function 7600 or 7700 ODE "How to Read a Five Year Forecast"

  25. Line-by-line explanationPrincipal and Interest • 4.010 All Principal (Historical) – Object: 810 through 819 • 4.020 Principal – Notes Object: 812 and 813 • 4.030 Principal – State Loans Object: 815 • 4.040 Principal – State Advances Object: 816 • 4.050 Principal – HB 264 Loans Object: 814 • 4.055 Principal - Other Object: 819 • 4.060 Interest and Fiscal charges • Object: 820 through 829 ODE "How to Read a Five Year Forecast"

  26. Line-by-line explanationPrincipal and Interest • 4.300 Other Objects • The primary components listed here consists of membership dues and fees, ESC contract deductions, County Auditor/Treasurer fees, audit expenses, election expenses, etc. • Object: 840 through 899 • 4.500 Total Expenditures • Total Lines 3.010 through 3.060 & 4.010 through 4.300 ODE "How to Read a Five Year Forecast"

  27. Line-by-line explanationOther Financing uses • 5.010 Operating Transfers-out • Object: 910 - 919 • 5.020 Advances-out • Object: 920 - 929 • 5.030 All other Financing Uses • Object: 930, 940, 941, & 942 • 5.040 Total Other Financing Uses • Total of Lines 5.010 through 5.030 • 5.050 Total Expenditures and Other Financing Uses • Total of Line 4.5 (total expenditures) & 5.040 (total other financing uses) ODE "How to Read a Five Year Forecast"

  28. Line-by-line explanation • 6.010 Excess of Revenues and Other financing Sources over (under) Expenditures and Other Financing Uses • Positive number indicates that a school district spent within its revenue for that fiscal year • Negative number indicates that a school district’s expenditures exceeded the revenue generated for that fiscal year resulting in a reduction to any surplus the district may hold • Line 2.080 (Total Revenue and Other Financing Sources) minus 5.050 (Total Expenditures and Other Financing Uses) ODE "How to Read a Five Year Forecast"

  29. Line-by-line explanationCash Balance July 1 • 7.010 Cash Balance July 1 – Excluding Proposed Renewal/Replacement and New Levies • Prior Year Line 7.010 • 7.020 Cash Balance June 30 • Line 6.010 plus line 7.010 • 8.010 Estimated Encumbrances June 30 ODE "How to Read a Five Year Forecast"

  30. Line-by-line explanation • 8.010 Estimated Encumbrances June 30 • The amount of money already requested through a purchase order. The funds have been obligated, but a check has not yet been written. ODE "How to Read a Five Year Forecast"

  31. Line-by-line explanationreservation of fund balance • 9.010 Textbook & Instructional Materials • O.R.C 3315.17 requires 3% of general funds to be set aside for the purchase or textbooks and instructional materials. School districts may spend more or less and carry the surplus or deficit forward • 9.020 Capital Improvements • Similar to above, O.R.C 3315.18 requires 3% set aside each fiscal year for maintenance and capital improvements ODE "How to Read a Five Year Forecast"

  32. Line-by-line explanationreservation of fund balance • 9.030 Budget Reserve • No longer required, but some school districts use this line as a “rainy day fund” • 9.040 Poverty Based Assistance • PBA has replaced the DPIA funding. The amount of funds a school district receives is based on the overall poverty levels within the school district. PBA funds are restricted funds. ODE "How to Read a Five Year Forecast"

  33. Line-by-line explanationreservation of fund balance • 9.050 Debt Service • This includes any loans or other debt for which repayment by the district is essential during the fiscal year • 9.060 Property Tax Advances • County Auditors may advance property tax payments (if money is available to the County Auditor through pre-payment of taxes) to school districts at the conclusion of a fiscal year to be spent at the beginning of the next fiscal year. This practice allows a school district to start the fiscal year with money for operations ODE "How to Read a Five Year Forecast"

  34. Line-by-line explanationreservation of fund balance • 9.070 Bus Purchases • 9.080 Subtotal • Total of lines 9.010 through 9.070 ODE "How to Read a Five Year Forecast"

  35. Line-by-line explanationfund balance june 30 for certification of appropriations • 10.010 Fund Balances June 30 For Certification of Appropriations • Line 7.020 minus Line 8.010 minus Line 9.080. All reserved funds are “backed out” and therefore not available for the school district to use in school operations ODE "How to Read a Five Year Forecast"

  36. Line-by-line explanationrevenue from replacement/renewal Levies • 11.010 Income Tax – Renewal • 11.020 Property Tax – Renewal or Replacement • 11.300 Cumulative Balance of Replacement • Previous year line 11.300 plus Current Year Line 11.010 plus 11.020 ODE "How to Read a Five Year Forecast"

  37. Line-by-line explanation • 12.010 Fund Balance June 30 For Certification of contracts, Salary Schedules, and Other Obligations • Line 10.010 plus 11.300 ODE "How to Read a Five Year Forecast"

  38. Line-by-line explanation • 13.010 Income Tax - New • 13.020 property Tax - New • 13.030 Cumulate Balance of New Levies • Previous Year line 13.030 plus Current Year Line 13.010 plus line 13.020 • 14.010 Revenue from Future State Advances • 15.010 Unreserved Fund Balance June 30 • Line 12.010 plus Line 13.030 plus Line 14.010 ODE "How to Read a Five Year Forecast"

  39. Line-by-line explanationAdm forecasts • 20.010 Kindergarten - October • October Count Week • 20.015 Grades 1-12 – October • October Count Week

  40. Line-by-line explanationRequired Disclosure Items • 21.010 Personal Services SFSF • 21.020 Employees Retirement/Insurance Benefits SFSF • 21.030 Purchased Services SFSF • 21.040 Supplies and Materials SFSF • 21.050 Capital Outlay SFSF • 21.060 Total Expenditures - SFSF

  41. USASFF • Produces a report containing the forecast line numbers and totals • The report will contain three prior year's actual values. It also includes the current FYTD expendable/receivable values as the first year estimate

  42. USASFF • USASFF can produce either a summary or detailed report. • The detail report includes budget/revenue accounts which are included in each line. • The summary report includes only forecast line numbers. • USASFF will produce a CSV file containing the summary values for each forecast line number. The CSV file can be downloaded and used in a spreadsheet.

  43. USASFF

  44. USASFF • The output report is the name of the report text file. It also determines the name of the output CSV file. Defaults to USASFF.TXT and the CSV file defaults to USASFF.CSV. • The program offers a summary or detail report option. • S – Summary or D - Detail • The source for projected amounts option allows the user to select where the first year estimates will be pulled from. • (A) USAS Accounts (S)SM1 (B) Blank

  45. USASFF - Detail

  46. USASFF - Summary

  47. SSDT spreadsheets • Spreadsheets developed by the SSDT to assist school districts in preparing the Five Year Forecast • The Spreadsheets may be used alone (hand entering the values) or in conjunction with USASFF • Spreadsheets are actually workbooks which contain multiple worksheets. You will switch between various sheets while preparing the forecast.

  48. SSDT spreadsheets • 3 spreadsheets available on SSDT Website • Basic • Standard • Standard with Locks SSDT Homepage – Projects – USAS – Spreadsheets http://ssdt.oecn.k12.oh.us/content/five-year-forecast-spreadsheets

  49. spreadsheets • Basic • The basic sheet contains just what you need to import data from USAS and complete the forecast as required by SF and EMIS, without the extra fluff.  We recommend this sheet if you have a slower PC/Mac without much memory, or if you just don't want to deal with anything "extra".

  50. spreadsheets • Standard • Includes several optional sheets including "Percentage" and "Summary" presentations of the Forecast similar to ones provided by AOS.  Also included is a "Charts" sheet which contains several sample Excel charts showing graphical presentations of the forecast data.  These additional views and charts work without any additional effort and update automatically when as the Forecast data is updated.

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