Three Rivers Local School District Five Year

Transcript:Three Rivers Local School District Five Year:
Three Rivers Local School District Five Year Financial Forecast Key Indicators & Analysis Teri Riesenberg, Treasurer May 28, 2024 CURRENT FISCAL YEAR Financial Forecast Key Indicators & Analysis Three Rivers Local SD Current Fiscal Year Projected Financial Analysis @2023 Frontline Education CURRENT FISCAL YEAR Financial Forecast Key Indicators & Analysis Three Rivers Local SD Current Fiscal Year Projected Expenditure Analysis @2023 Frontline Education Total Revenue by Source Over Time General Property Tax remains fairly flat despite the 2023 Property Re-Appraisal. Total revenue increase to the district is only generated on the 3.4 inside mils and new construction. Total increase for fiscal year 2024 was a total of $43,158. There are no new levies being discussed or included in the forecast at this time. YTD interest from our investments totals $577,924 as of this presentation, which is an increase of $300,000 and will grow as we close the fiscal year. Due to the partial shut down of the Miami Fort Power Plant production during the previous year, PUPP revenues are down approximately $800,000. We do not anticipate that to occur again this year but will continue to closely monitor production and are aware that as the power plant nears permanent closure in FY2027, it is more likely than not that further shutdowns and reductions in revenue may occur. State Funding The Fair School Funding Plan was adopted in FY2022 and is driven by a base cost methodology which is then broken down by local capacity/state share per pupil. The formula is a 6 year phase in funding students where they attend school eliminating open enrollment payments. The large increases in FY2024 and FY2028 are estimated relief payments from the State of Ohio to offset the PUPP revenue loss due to the decrease in production and plant closure based on current law. State Funding Cont’d For Three Rivers Local School District, the calculated Base Cost total for FY2024 is $16,019,960 based on the average enrollment of 1,992* students. The current biennial budget (FY24-25) includes years 3(50%) and 4(66.67%). The forecast assumes the final biennial phase in will continue in year 5(83.33%) and year 6(100%). Base costs were also updated to FY22 data which will continue thru fiscal year 2025. $16,019,960 / 1992* students = Base Cost per Pupil of $8,043.00 The local/state share breakdown is reflected in the lower left chart. *Enrollment used for base cost calculation is the higher of the