Cleveland Municipal School District 1 F I V E Y E A R F I N A N - - PowerPoint PPT Presentation
Cleveland Municipal School District 1 F I V E Y E A R F I N A N CI A L F O R E CA ST O C T O B E R 2 0 12 O C T O B E R 2 0 12 The primary goal of the Cleveland Municipal School District is to become a premier school district in the
F I V E Y E A R F I N A N CI A L F O R E CA ST
O C T O B E R 2 0 12
1 O C T O B E R 2 0 12
The primary goal of the Cleveland Municipal School District is to become a premier school district in the United States of America.
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Revenue:
Forecast assumes no new levy revenue. Forecast assumes that the property tax current collection rate will remain at
78.87%. Current economic conditions continue to have a significant impact on tax collection rates.
In 2012 Cuyahoga County will complete the six year reappraisal of all property.
The impact on the District should be minimal.
Projections are based on the bridge formula to determine state funding in all
years.
Forecast assumes the Average Daily Membership for K-12 to be:
FY13 – 38,182 FY14 – 36,615 FY 15 – 35,117 FY16 – 34,095 FY 17 – 33,233
Forecast assumes that Charter School ADM will increase by 70% of CMSD
decrease.
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Expenditures:
Forecast assumes a total of 2,591 classroom teachers in FY13 (2,300 are
budgeted within the General Fund).
Forecast assumes 50 less employees each year in FY14-17 due to attrition. Forecast shifted $4.3 million of personnel costs to the General Fund in FY13
due to a decline in Title I funding.
Forecast shifts $2.0 million of personnel cost to the General Fund in FY14 due
to a decline in federal funding.
Healthcare rates are forecasted to increase 7.7% in FY13 and 9.7% in FY14-16. Forecast assumes all union agreements as currently defined including step
increases.
Forecast assumes a $3.2 textbook budget for all fiscal years. $13.1 million of adjustments are necessary to balance the budget for the 2012 –
2013 school year.
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FY 2012-2013 State, 67.7%
W here the M oney Comes From
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Local Taxes, 23.7% State of Ohio Reimbursemen ts, 4.3% Other, 4.3%
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662.7 668.2 654.2 611.2 575.0 595.0 615.0 635.0 655.0 675.0 $51.5 million 564.4 562.2 537.2 480.8 475.0 495.0 515.0 535.0 555.0 575.0 2010 2011 2012 2013* Total Revenue Total Revenue Excluding Charter $83.6 million
*Projected
Local Taxes – Property Tax Revenue 100.0 125.0 150.0 175.0
4.3 1.0 0.3 1.0 I n M illions)
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0.0 25.0 50.0 75.0 2010 2011 2012 2013 2014 2015 2016 2017
147.1 148.1 144.1 144.0 144.0 144.0 144.0 144.0
Real Estate Personal Tangible Fiscal Year
Revenue (I n M i
Property Taxes – Current Collection Rate
87.0 88.0 89.0 90.0 91.0 92.0 93.0 94.0 95.0 96.0 97.0 98.0 99.0 98.6 ection Rate
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75.0 76.0 77.0 78.0 79.0 80.0 81.0 82.0 83.0 84.0 85.0 86.0 87.0
1987 1988 1989 1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011
80.9 78.9
Current Collec
Year
Property Taxes – Total Collection Rate
91.00 93.00 95.00 97.00 99.00 101.00 103.00 105.00 107.00
1.3
ection Rate
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75.00 77.00 79.00 81.00 83.00 85.00 87.00 89.00 91.00
1987 1988 1989 1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011
98.6 78.9 6.5
Current Collection Rate Delinquencies
Current Collec
Year
State Foundation Revenue
$425 $430 $435 $440
27.3 34.1
I n M illions)
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$400 $405 $410 $415 $420
2010 2011 2012 2013 2014 2015 2016 2017
411.3 404.5 421.4 413.9 411.2 408.0 405.8 403.9 34.1
State Foundation Fiscal Stabilization Fund Revenue (I n Fiscal Year
State Foundation Revenue – Excluding Charter School Portion
$300 $310 $320 $330 $340
27.3 34.1
I n M illions)
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$240 $250 $260 $270 $280 $290
2010 2011 2012 2013 2014 2015 2016 2017
313.0 298.5 304.4 283.4 271.6 260.9 253.6 247.4
State Foundation Fiscal Stabilization Fund Revenue (I n Fiscal Year
Education Jobs $15 $20
I n M illions)
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$0 $5 $10 2010 2011 2012 2013 2014 2015 2016 2017 17.7
Education Jobs
Revenue (I n M i
Fiscal Year
Property Tax Allocation – State Hold Harmless Reimbursements
$30 $40 $50 $60 38.6 39.8 26.9 I n M illions)
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$0 $10 $20 $30 2010 2011 2012 2013 2014 2015 2016 2017 12.4 12.4 12.3 12.2 12.2 12.2 12.2 12.2 4.5 4.4 26.9 13.9 13.9 13.9 13.9 13.9
Property Tax Reimbursements Utility Tax Reimbursements HB 66 CAT Reimbursements
Revenue (I n
Fiscal Year
Other Revenue
$15 $20 $25 $30 2.1 0.6 0.4 0.4 0.4 0.4 0.4 1.4 1.3 1.2 1.1 1.0 1.0 1.7 1.9 1.8 6.2 4.0 4.0 4.0 4.0 2.5 1.7 3.5 I n M illions)
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$0 $5 $10 $15 2010 2011 2012 2013 2014 2015 2016 2017 10.6 18.2 24.4 18.3 20.3 20.6 20.7 20.7 2.4 1.7
Other Interest Catastrophic Aid Medicaid Advance In
Fiscal Year
Revenue (I n
Total Revenue – Excluding Charter School Portion
$400 $500 $600
340.3 332.6 304.4 17.7 55.5 56.6 39.2 26.1 26.1 26.1 26.1 26.1 17.2 23.9 31.7 26.2 25.9 26.1 26.1 26.1 I n M illions)
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$0 $100 $200 $300
2010 2011 2012 2013 2014 2015 2016 2017 151.4 149.1 144.4 145.0 144.1 144.1 144.1 144.1 340.3 332.6 304.4 283.4 271.6 260.9 253.6 247.4 Property Tax State Foundation Ed Jobs State Reimbursement Other Revenue (I n Fiscal Year
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Where the Money Goes All Other $118,262,885 18.4%
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Salaries & Benefits, $393, 133,569, 61.3% Charter School Pass-Through $130,500,000 20.3%
Salaries
$310 $330 $350 $370 s (I n M illions)
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$250 $270 $290 $310 2010 2011 2012 2013 2014 2015 2016 2017
359.3 312.7 309.3 276.3 289.0 288.5 287.8 286.8 Salaries
Fiscal Year
Expenditures (
Fringe Benefits
$80 $100 $120 $140
60.7 54.9 57.7 56.5 62.0 67.8 74.1 80.9 4.4 3.9 4.0 3.7 3.9 3.9 3.9 3.9 6.6 5.2 4.5 4.4 4.4 4.4 4.4 4.4 3.5 7.8 8.4 11.2 7.3 6.2 4.5 3.9
s (I n M illions)
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$0 $20 $40 $60 $80 2010 2011 2012 2013 2014 2015 2016 2017
50.2 47.9 44.7 41.0 42.6 42.8 42.7 42.6 54.9 57.7 56.5 62.0 STRS/ SERS Employee Insurance Benefits Medicare Workers Compensation Other
Fiscal Year
Expenditures (
Purchased Services
$150 $200 $250 $300
98.3 117.0 130.5 139.6 147.1 152.2 156.5
s (I n M illions)
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$0 $50 $100 $150 2010 2011 2012 2013 2014 2015 2016 2017
15.1 14.2 12.0 12.8 13.0 13.2 13.4 13.6 9.3 7.8 10.3 10.8 11.0 11.2 11.4 11.4 63.4 56.5 57.7 69.0 69.3 70.0 70.8 71.7 98.3 106.0 117.0 Utilities Student Transportation (Contract) Other Purchased Services Charter School Pass-Through
Fiscal Year
Expenditures (
Supplies, Textbooks, Equipment, and Other Expenditures
15.0 20.0 25.0 30.0 1.3 7.8 8.3 6.5 7.4 7.5 7.7 7.8 7.3 7.7 11.5 4.2 7.0 7.0 7.0 7.0 7.0 res (I n M illions)
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0.0 5.0 10.0 15.0 2010 2011 2012 2013 2014 2015 2016 2017 12.6 9.0 10.0 10.6 10.6 10.6 10.6 10.6 1.3 0.8 1.0 0.7 0.7 0.7 0.7 0.7 8.3 6.5 7.4 7.5 7.7 7.8 7.3
Supplies and Textbooks Equipment Other Expense Transfers/ Advances
Expenditure
Fiscal Year
Total Expenditures– Excluding Charter School Portion
300.0 400.0 500.0 600.0 125.3 119.8 119.3 116.8 120.2 125.1 129.6 135.7 87.8 78.4 80.0 92.6 93.3 94.4 95.6 96.7 12.6 9.0 10.0 10.6 10.6 10.6 10.6 10.6
15.5 19.8 10.7 14.4 14.5 14.7 14.8 14.3
res (I n M illions)
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0.0 100.0 200.0 300.0 2010 2011 2012 2013 2014 2015 2016 2017 359.3 312.7 309.3 276.3 289.0 288.5 287.8 286.8
Wages Benefits Purchased Services Supplies and Materials Capital Outlay Other
Expenditure
Fiscal Year
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October 2012 Five-Year Forecast
(in millions of dollars)
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B e g in n in g C a s h B a la n c e $ 5 .4 $ 1 3 .0 $ 3 4 .8 $ 4 1 .8 $ 1 1 .1 ($ 4 9 .8 ) ($ 1 2 6 .8 ) ($ 2 1 6 .2 ) T
l R e v e n u e s 6 6 2 .7 6 6 8 .2 6 5 4 .3 6 1 1 .2 6 7 .2 6 4 .2 6 2 .0 6 .1 T
l E x p e n s e s 7 .1 6 4 6 .4 6 4 7 .3 6 5 5 .0 6 6 8 .1 6 8 1 .2 6 9 1 .4 7 1 .3 (1 3 .1 ) F Y 2 1 7 F Y 2 1 6 F Y 2 1 4 F Y 2 1 5 F Y 2 1 F Y 2 1 1 F Y 2 1 2 F Y 2 1 3 (1 3 .1 ) R e v e n u e
e r E x p e n s e s (3 7 .4 ) 2 1 .8 7 .0 (3 .7 ) (6 .9 ) (7 7 .0 ) (8 9 .4 ) (1 1 .2 ) E n d in g C a s h B a la n c e 1 3 .0 3 4 .8 4 1 .8 1 1 .1 (4 9 .8 ) (1 2 6 .8 ) (2 1 6 .2 ) (3 1 7 .4 ) E n c u m b ra n c e s / R e s e rv e s 6 .5 8 .2 1 1 .1 1 1 .1 7 .0 7 .0 7 .0 7 .0 U n e n c u m b e re d B a la n c e $ 6 .5 $ 2 6 .6 $ 3 .7 $ .0 ($ 5 6 .8 ) ($ 1 3 3 .8 ) ($ 2 2 3 .2 ) ($ 3 2 4 .4 )
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Fiscal Caution Fiscal W atch Fiscal Emergency
Q U E ST I O N S
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Q U E ST I O N S
T H E P R I M A R Y G O A L O F T H E C L E V E L A N D M U N I C I P A L S C H O O L D I S T R I C T I S T O B E C O M E A P R E M I E R S C H O O L D I S T R I C T I N T H E U N I T E D S T A T E S O F A M E R I C A .