In September, Mrs. Gina Helmick, treasurer of the Huber Heights City Schools, presented the five-year forecast to the Board of Education. The Five-Year Forecast is a financial planning tool that each school district is required to file with the Ohio Department of Education prior to October 31 of each fiscal year. Districts are also required to update this forecast between April 1 and May 31 of each fiscal year. The five-year forecast is divided into two sections: revenue and expenditures. A district’s revenue is made up of two main sources, local and state funding. Expenditures for a school district are primarily salary and wages, benefits, purchased services, and supplies.
To some extent, the five-year forecast is like a picture of the future based upon what is currently happening in the district. However, that picture must be adjusted as circumstances within the district change. A variety of events that may impact the five-year forecast include state budgets (adopted every two years), tax levies (new, renewal, replacement), salary increases, or businesses moving in or out of the district. Like a household budget, the five-year forecast is viewed as an important financial management tool for a school district and must be periodically revised in order to help district management be proactive in meeting any financial challenges.
Based on the information presented by Mrs. Helmick, the five-year forecast projected that our school district will not need to dip into cash reserves until the year 2019. Mrs. Helmick based her forecast primarily on predictions for state funding. It is important to note that this forecast takes into account two state budgets that will not be put into place until 2017 and 2019. These state budgets will potentially impact our five-year forecast and adjustments to our forecast will need to be made as soon as information becomes available.
The positive five-year forecast for the Huber Heights City Schools is reflective of sound financial management and responsible decision making. As always, if you have questions about our schools, please contact me at the Administrative Offices (237-6300) or through e-mail at Susan.Gunnell@huberheightscityschools.org.
Reach Supt. Susan Gunnell at 237-6300 or through e-mail at Susan.Gunnell@huberheightscityschools.org.