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Five-Year Forecast

Posted June 2024:

The Five Year Forecast is required for each school district in the State of Ohio twice a year,  once in November and then again in May.  The forecast shows 3 years of history, the current fiscal year and then four years of projections.  This only represents the general fund.

The first part of the forecast is the revenues.  As you can see the district was impacted by the real estate reappraisal that occurred in 2023.  The district is currently at the 20 mill floor as enacted by HB920 in 1976.  Due to this the district will realize the inflationary rates.  The income tax remains stable over previous years.  The additional .75% traditional income tax is due to expire at the end of 2024 and the effect of this can be seen in the year 2025.  Unrestricted Grant In Aid is the funds that are received from the state.  Due to the reappraisals our state funding will decrease next year by approximately $300,000.  All other revenue is expected to remain stable.

The second part of the forecast is the expenses.  The first line item, personal services is the salaries/payroll.  The district employs approximately 150 full time and part time people.  This makes the district one of the largest employers in Mt. Gilead.  The salaries are based on the Union Agreement with the Teachers Union, we are currently in a three-year contract. The next line item represents the retirement and benefits, these too are based upon the union agreement and the retirement systems, State Teachers Retirement System of Ohio and School Employees Retirement System of Ohio.  The third line item is purchased services.  This represents contracts related to “services” to the district.  Supplies and materials are everything from pencils and paper to paper towels and toilet paper and everything in between.  Capital Outlay is equipment.  Another way to view these items, supplies are anything that is disposable and capital is anything that is not with a value greater than $5,000.  As you can see the transfer out of the general fund has been substantial over the past few years.  These funds have been transferred to the Capital Projects fund.  This fund is where we have been making all of the major improvements that you will notice around the district.  This includes such things as:

HVAC - District
Gym Cherry Street
All Weather Track
Security Cameras
Football Field
Sound System HS
Maintenance Truck
Flag Pole Stadium
Sound System Stadium
2 Vehicles Transportation
Stadium LED Lights
Roof Repairs – District
Restroom/Stadium Fieldhouse
Digital Sign/Digital Display Boards
One to One Chromebooks
Gym Floor Park Avenue
LED Light Project Park Avenue
Playground Equipment
Baseball and Softball Fields

The district will end this fiscal year with approximately $6.5 million dollars in the general fund.  The Board of Education, Superintendent and Administrators have been good stewards of your tax dollars and will continue to be as the forecast indicates.  If you have any questions, please feel free to contact me.  Thank you for allowing me to be your school district treasurer.

View the Schedule of Revenues, Expenditures and Changes in Fund Balances for the Fiscal Years Ended June 30, 2021, 2022 and 2023 Actual; Forecasted Fiscal Years Ending June 30, 2024 through 2028

Tina Gabler
419-946-1646 ext. 5011