So uth E uc lid L yndhurst City Sc ho o ls d F ina nc ia l Upda - - PowerPoint PPT Presentation
So uth E uc lid L yndhurst City Sc ho o ls d F ina nc ia l Upda te Oc to b e r 13, 2018 Purpo se o f this Pre se nta tio n (Whe re we ve Be e n / Whe re we Are / Whe re we re Go ing ) F ina nc ia l History F Y13 F
Oc to b e r 13, 2018
(Whe re we ’ ve Be e n / Whe re we Are / Whe re we ’ re Go ing )
ina nc ia l History F Y13 – F Y18 (Post L e vy)
ina nc ia l Situa tion – F Y19
ina nc ia l Outlook – F Y20 & Be yond
e vy Options
Re a l E sta te T a xe s, $41,918,595 , 69% Inc ome T a x - L yndhurst, $36,363 , 0% T uition, $2,235,243 , 4% Inve stme nt E a rning s, $431,025 , 1% Pa y to Pa rtic ipa te , $74,160 , 0% Cla ss F e e s, $44,236 , 0% Misc e lla ne ous, $100,391 , 0% Sta te F
14% Home ste a d & Rollba c k, $5,941,253 , 10% Ca sino T a x, $174,422 , 0% Othe r Sta te , $870,475 , 1% F e de ra l - Me dic a id, $170,050 , 0% Non- Ope ra tiona l, $588,475 , 1%
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Re al E state T axe s, $41,918,595 , 94% Inc ome T ax - L yndhur st, $36,363 , 0% T uition, $2,235,243 , 5% Inve stme nt E ar nings, $431,025 , 1% Pay to Par tic ipate , $74,160 , 0% Class F e e s, $44,236 , 0% Misc e llane ous, $100,391 , 0%
L
a xe s – F Y18
T he Distric t re c e ive d $30,934,662 o r 74% fro m Re side ntia l Re a l E
sta te
ta xe s in F Y18.
Re sid e ntia l, 29,653,843, 71% Re sid e ntia l De liq ue nt, 1,280,819, 3% Busine ss, 9,098,001, 22% Busine ss De liq ue nt, 195,347, 0% Pub lic Utility, 1,689,494, 4%
T he Distric t re c e ive d $9,293,348 o r 22% fro m Busine ss/ Comme rc ia l
Re a l E sta te ta xe s in F
Y18. T he Distric t re c e ive d $1,689,494 o r 4% fro m Public Utilitie s ta xe s in F Y18.
L
axe s
T a x Co lle c tio n Ra te s: 94.96%
c o nsiste nt o ve r the ye a rs
2,500,000 5,000,000 7,500,000 10,000,000 12,500,000 15,000,000 17,500,000 20,000,000 22,500,000 25,000,000 27,500,000 30,000,000 32,500,000 F Y16 F Y17 F Y18 F Y19 F Y20 F Y21 Re side ntia l 30,752,443 30,823,314 30,934,663 30,460,465 30,460,465 30,460,465 Busine ss 9,963,537 9,141,549 9,293,348 8,354,731 8,354,731 8,354,731 Pub lic Utility 1,531,016 1,589,716 1,689,494 1,751,264 1,751,264 1,751,264
Re side ntia l Busine ss Pub lic Utility
Busine ss T a x No te : F Y16 -> F Y17 De c re a se due to the re duc tio n in va lua tio n o f the Ric hmo nd Ma ll F Y18->F Y19 de c re a se due to re duc tio n in va lua tio n o f Hillto p Pla za a nd the sub se q ue nt re fund
Sta te F
re ve nue so urc e .
a ppro xima te ly $9,000,000
re ve nue fo r F Y18
e nro llme nt da ta sub mitte d thro ug h E MI S
By Ob je c t
Salar y, $32,508,536 , 53% Be ne fits, $12,683,340 , 21% Contr ac te d Se r vic e s, $10,851,072 , 18% Supplie s, $1,862,713 , 3% E quipme nt, $248,148 , 0% Othe r , $1,102,954 , 2% T r ansfe r s/ Advanc e s, $1,785,500 , 3%
By F unc tio n
Instruc tiona l, $35,243,708 , 58% Pupil & Instruc tiona l Support, $5,937,405 , 10% Administra tion, $3,898,918 , 6% Boa rd of E d / F isc a l / Busine ss, $2,499,063 , 4% Ope ra tions & Ma inte na nc e , $6,463,673 , 10% T ra nsporta tion, $2,850,149 , 5% Support Se rvic e s - Ce ntra l, $1,347,341 , 2% Non- instruc tiona l Ope ra tions, $18,338 , 0% Athle tic s & E xtra c urric ula r, $1,026,311 , 2% T ra nsfe rs / Adva nc e s, $1,785,500 , 3%
F Y14 F Y15 F Y16 F Y17 F Y18 F Y19 F Y20 Sa la rie s $32,265,638 $32,236,301 $32,471,445 $32,414,703 $32,508,536 $33,724,000 $35,073,000 Be ne fits $13,026,700 $13,337,874 $12,367,203 $12,382,200 $12,683,340 $13,768,000 $15,145,000
$- $5,000,000 $10,000,000 $15,000,000 $20,000,000 $25,000,000 $30,000,000 $35,000,000 $40,000,000
Axis T itle
Be ne fits – F Y14 to F Y19
$0 $1,500,000 $3,000,000 $4,500,000 $6,000,000 $7,500,000 $9,000,000 $10,500,000 $12,000,000 $13,500,000 F Y14 F Y15 F Y16 F Y17 F Y18 F Y19
Be ne fits – F Y18
Re tire me nts, 5,319,515, 42%
Re imbur se me nts , 272,459, 2%He a lth/ Rx, 6,141,096, 48% De nta l , 349,707, 3% Vision , 92,204, 1% L ife , 38,161, 0% Me dic a re , 459,346, 4%
Une mployme nt, 10,813, 0% Contra c te d Se rvic e s – F Y14- F Y19
$0 $1,500,000 $3,000,000 $4,500,000 $6,000,000 $7,500,000 $9,000,000 $10,500,000 F Y14 F Y15 F Y16 F Y17 F Y18 F Y19
Contr ac te d Se r vic e s – F Y18
Pr Supplie s / E q uipme nt / Due s & F e e / No n-Ope ra tio na l
F Y14 F Y15 F Y16 F Y17 F Y18 F Y19 Supplie s $1,583,295 $1,570,811 $2,051,649 $2,269,507 $1,862,713 $1,821,000 E q uipme nt $265,878 $390,724 $725,539 $379,716 $248,148 $19,500 Due s & Fe e s $1,490,399 $1,050,566 $1,079,243 $1,070,304 $1,102,954 $1,117,500 No n-Ope ra tio na l $863,827 $830,020 $1,374,000 $1,425,000 $1,785,500 $1,435,000
$- $250,000 $500,000 $750,000 $1,000,000 $1,250,000 $1,500,000 $1,750,000 $2,000,000 $2,250,000 $2,500,000
F Y13 F Y14 F Y15 F Y16 F Y17 F Y18 F Y19 F Y20 F Y21 Re ve nue $60,010,539 $58,425,903 $59,781,546 $60,623,818 $59,291,953 $60,811,180 $58,400,000 $58,250,000 $57,965,000 E xpe nditure s $54,777,169 $57,849,019 $58,461,086 $58,747,178 $59,128,458 $61,042,263 $63,347,000 $66,038,000 $68,254,000 $50,000,000 $52,000,000 $54,000,000 $56,000,000 $58,000,000 $60,000,000 $62,000,000 $64,000,000 $66,000,000 $68,000,000 $70,000,000 Re ve nue E xpe nditure s
with E nding Ca sh Ba la nc e
F Y13 F Y14 F Y15 F Y16 F Y17 F Y18 F Y19 F Y20 F Y21 Re ve nue 60,010,539 58,425,903 59,781,546 60,623,818 59,291,953 60,811,180 58,400,000 58,250,000 57,965,000 E xpe nditure s 54,777,169 57,849,019 58,461,086 58,747,178 59,128,458 61,042,263 63,347,000 66,038,000 68,254,000 Surplus/ (De fic it) 5,233,370 576,884 1,320,460 1,876,640 163,495 (231,083) (4,947,000) (7,788,000) (10,289,000) E nd ing Ba la nc e 12,425,643 13,002,614 14,323,136 16,199,477 16,363,006 16,131,977 11,185,003 3,396,000 (6,892,000) (10,000,000) 10,000,000 20,000,000 30,000,000 40,000,000 50,000,000 60,000,000 70,000,000 Re ve nue E xpe nditure s Surplus/ (De fic it) E nd ing Ba la nc e
Date: 8/31/2018 Taxes 0.00% Salaries 4.00% Other Local 0.00% Valuation 775 Benefits 10.00% Interest 0.00% Millage Contracted Services 0.00% State Foundation 0.00% Supplies/Materials 0.00% Other State 0.00%
$0 Capital Outlay 0.00% Other Federal 0.00% Dues & Fees 0.00%
FY 16 FY 17 FY 18
FY 19 FY 20 FY 21 FY 22 FY 23
Cat ateg egories es
Actual Actual Actual
Estimate Estimate Estimate Estimate Estimate
Rev Reven enue e Sources ces:
Taxes Real Estate $42,247 $41,555 $41,918
$40,566 $40,566 $40,566 $40,566 $40,566
Homestead Reimb. 1,647 1,600 1,577
1,510 1,450 1,400 1,400 1,400
Rollback Reimb. 4,398 4,383 4,364
4,374 4,350 4,345 4,345 4,345
Income Tax - Lyndhurst 9 103 36
26 26 26 26 26
Othe her Loc Local S Sour
Tuition Fees 1,394 1,094 2,235
1,664 1,664 1,664 1,664 1,664
Figur ures E Expressed i in T n Tho hous usand nds
SOUTH E EUCLID-LYNDHURST C CITY S SCHOOL D DISTRICT
ZERO P POIN INT A ANALYSIS SIS -
GENERAL F FUND ( (MA MAIN IN)
Revenue Projection Factors New Levy Calculator Expenditure Projection Factors
Wha t is a Pro pe rty T a x L e vy?
A pro pe rty tax le vy is the c o lle c tio n o f taxe s c harg e d o n the value o f pro pe rty.
Wha t is HB920?
Was passe d in 1976 to re duc e the taxe s c harg e d b y a vo te d le vy due to the inc re asing value o f pro pe rty. I t pre ve nts any le vy fro m c o lle c ting mo re taxe s than what was o rig inally vo te d.
Whe n a re ta xe s c o lle c te d?
T axe s are paid in January and July o f the c ale ndar ye ar fo llo wing the tax ye ar(T Y) (e x:
T axe s fo r 2017 ar e c o lle c te d by the c o unty tr e asur e r in Jan 2018 & July 2018).
Sinc e sc ho o l distric ts run o n a fisc al ye ar (F Y) (July 1-June 30) taxe s re c e ive d during that fisc al ye ar will b e fro m two diffe re nt c ale ndar ye ars. (e x: A le vy passe d in No v 2018
me ans the sc ho o l will be gin to r e c e ive funds in the 2nd half o f F Y19 and in the 1st half o f F Y20)
Additio nal I nfo rmatio n re g arding sc ho o l le vie s c an b e fo und he re OSBA Unde rstanding L e vie s F ac t She e t
A mill is a unit o f value fo r e xpre ssing the rate o f pro pe rty taxe s in Ohio . A mill is de fine d as o ne -te nth o f a pe rc e nt o r .001
E xample
Appra ise d Va lue
$100,000 x 35%
Asse sse d Va lue
$ 35,000
One Mill
x .001
T a xe s L e vie d
$ 35 Ave ra g e Ho me Va lue So uth E uc lid $ 94,100 L yndhurst $ 136,000
Wha t is a mill? Appra ise d vs Asse sse d Va lue ?
Appraise d value is the value that the c o unty audito r de te rmine s fo r a partic ular pro pe rty Asse sse d value is the c alc ulate d value o f a pie c e o f pro pe rty that is use d to de te rmine the amo unt
t is fig ure d b y taking the appraise d value and multiplying it b y 35%.
Ge ne ra l (Ope ra ting )L e vy
ime o r L imite d Up to 5 ye a rs
Impro ve me nts Only (PI L e vy)
E me rg e nc y L e vy
Dua l-Purpo se L e vy
imite d Pe rio d o f T ime
e vy
I nc re me nta l (Pha se d-I n) L e vy
sc he dule thro ug ho ut the le vy pe rio d.
Gro wth L e vy
I nc re a sing ye a rly
Bo nd I ssue
imite d pe rio d o f time – Usua lly 20-30 ye a rs
0.0% 10.0% 20.0% 30.0% 40.0% 50.0% 60.0%
42.4% 50.8% 50.5% 48.0% 45.5% 58.4% 45.3% 55.0% 53.9%
Passage Rate
E xte rna l
uc lid – .5% Inc o me T a x - No v 2018
uc lid – No v 2019
yndhurst – No v 2019
RS – 35 ye a rs vs 30 ye a rs
RS – 57 ye a rs o f a g e vs 30 ye a rs
le c tio n Ye a r - 2020
I nte rna l
nding Ca sh Ba la nc e
L T A se ttle d thro ug h 6/ 30/ 20
110 & 207 se ttle d thro ug h 6/ 30/ 21
(wa g e o nly re o pe ne r in fina l ye a r)
nro llme nt
duc a tio n
duc a tio n
le c tio ns
wo up fo r re e le c tio n in No v 2019
Initia l Bo a rd Ac tio n
(e stima te )
Co unty Audito r Ce rtific a tio n F ina l Bo a rd Ac tio n
(e stima te )
Bo a rd o f E le c tio n F iling De a dline
E le c tio n
E le c tio n Da y
I nitia l Bo a rd Ac tio n
(e stima te )
Co unty Audito r Ce rtific a tio n F ina l Bo a rd Ac tio n
(e stima te )
Bo a rd o f E le c tio n F iling De a dline
E le c tio n
(e stima te )
E le c tio n Da y
(e stima te )
I nitia l Bo a rd Ac tio n
(e stima te )
Co unty Audito r Ce rtific a tio n F ina l Bo a rd Ac tio n
(e stima te )
Bo a rd o f E le c tio n F iling De a dline
E le c tio n
e b 4, 2020 (e stima te )
E le c tio n Da y
(e stima te )
Ohio Sc ho o l Bo a rds Asso c ia tio n