Bluffton Schools Submit 5-Year Financial Forecast
The Bluffton Exempted Village School District submitted a five-year financial forecast to the Ohio Department of Education, as approved by the Board of Education in November 2021 (full report to the Ohio Board of Education).
The report includes both data and notes providing the assumptions used for the financial projections, including income, expenditure and changes in fund balances for 2019-2026.
The assumptions section of the report includes the following:
Allen County experienced a reassessment in the 2015 calendar year to be collected in the 2016 calendar year. reassessment (5.8%) and the new emergency levy (4.2%). The next reassessment will take place in calendar year 2021 and will be collected in calendar year 2022. On May 6, 2014, the emergency tax levy was renewed with an increase from the original 4.9 vintages from 1999. This levy will collect $ 714,392 from calendar year 2015 and will be collected until the first half of fiscal 2025.
Personal property tax
The tangible personal property tax on business inventory, manufacturing machinery and equipment, and furniture and fixtures is no longer collected and collected. All amounts shown here are overdue personal property tax collections.
Unlimited aid grants
The unrestricted grants are the state foundation’s estimate for the exempt village school district of Bluffton and the amount received from casino taxes. The current state budget (HB110) is for fiscal year 2023. HB110 is also known as the Fair School Funding Plan and will not be released until December 2021, which is after the deadline for filing this. five-year forecast. Fiscal year 2022 is based on the most recent information available from the Ohio Department of Education. With the uncertainty that accompanies state funding, state aid has been projected flat until 2026.
Allocation of property tax
This number includes income from land and dismantling as well as fixed tax refunds on tangible movable property (TPP). The lump sum reimbursements of the TPP will be phased out by the end of fiscal year 2022.
This area includes interest, open enrollment, course fees, tuition, and the Medicaid to Schools program. The dollar amount remains constant for the duration of the forecast. Open enrollment students are in elementary and middle schools and are expected to stay in the district.
All other sources of funding
This includes all miscellaneous income that would be collected.
Personal services through fiscal 2024 are based on negotiated agreements. Fiscal years 2025 and 2026 are budgeted with an increase of 2% with one step.
Employee pension / insurance benefits
The amounts of retirement and insurance indemnities are established on the basis of negotiated agreements. The District has two insurance plans (MDHP and HDHP). These plans can be adjusted with input from the Plan Advisory Committee (PAC) to help offset premium increases. Calendar year 2022 reflects a 2% increase in insurance premiums. Each calendar year thereafter reflects a 10% premium increase. This area will need to be watched closely as insurance continues to be a wildcard at this point.
This area covers all utilities, building materials and building repairs. The duration of this forecast reflects growth of 3%.
Supplies and materials
The district projected this position flat over the duration of the forecast.
The district only purchases items that are absolutely necessary in the area of capital expenditure. The district has renewed a permanent income tax improvement tax of ½% over three years to calendar year 2022 to help with building maintenance.
This area includes board liability insurance, auditor and treasurer fees, county council deductions, and audit fees. The duration of this forecast reflects growth of 3%.
This domain includes Activity Fund Transfers, Dining Hall Transfer, 009 (US $) Fund Transfers, and HB264 Loan Repayment. The last HB264 loan payment is in July 2021.
Note: This five-year forecast has been prepared on the basis of information known at this stage.