Tax Budget

Fiscal Year 2023

Presented for Approval: January 11, 2022

HAMILTON COUNTY, OHIO

Office of the Board of Education Indian Hill EVSD	January 11 ,	2022

To the County Auditor:

The Board of Education of said School District, hereby submits its' annual budget for the year commencing July 1, 2022	for consideration of the County Budget Commission.

President of the Board

Indian Hill Exempted Village School District

Five Year Forecast Financial Report

November, 2021

Prepared by Mick Davis, Treasurer

1

Forecast5 Analytics ReportWriter Software 2019 ©

Indian Hill Exempted Village School District

Table of Contents

Page

Table of Contents	2

Forecast Summary	3

Revenue Sources and Forecast Year‐Over‐Year Projected Overview	4 1.010 ‐ General Property Tax (Real Estate)	5 1.020 ‐ Public Utility Personal Property	6 1.030 ‐ Income Tax	7 1.035 ‐ Unrestricted Grants‐in‐Aid	8 1.040 & 1.045 ‐ Restricted Grants‐in‐Aid	9 1.050 ‐ Property Tax Allocation                                                                                                                                                                               10 1.060 ‐ All Other Operating Revenues                                                                                                                                                                    11 2.070 ‐ Total Other Financing Sources                                                                                                                                                                   12

Expenditures Overview	13 3.010 ‐ Personnel Services	14 3.020 ‐ Employee Benefits	15 3.030 ‐ Purchased Services	16 3.040 ‐ Supplies and Materials	17 3.050 ‐ Capital Outlay	18 3.060 ‐ 4.060 ‐ Intergovernmental & Debt	19 4.300 ‐ Other Objects	20 5.040 ‐ Total Other Financing Uses	21

Five Year Forecast	22

1

Forecast Purpose/Objectives

Ohio Department of Education's purposes/objectives for the five‐year forecast are:

1.     To engage the local board of education and the community in the long range planning and discussions of financial issues facing the school district.

2.     To serve as a basis for determining the school district's ability to sign the certificate required by O.R.C. §5705.412, commonly known as the "412 certificate."
3.     To provide a method for the Department of Education and Auditor of State to identify school districts with potential financial problems.

Forecast Methodology ‐ This forecast is prepared based upon historical trends and current factors. This information is then extrapolated into estimates for subsequent years. The forecast variables can change multiple times throughout the fiscal year and while cash flow monitoring helps to identify unexpected variances no process is guaranteed. The intent is to provide the district's financial trend over time and a roadmap for decisions aimed at encouraging financial sustainability and stability.

Forecast5 Analytics ReportWriter Software 2019 ©

November, 2021	Forecast Summary	Indian Hill Exempted Village School District

$50,000,000

$45,000,000

$40,000,000 $35,000,000	‐

$30,000,000

$25,000,000

$20,000,000

$15,000,000

$10,000,000

$5,000,000

‐	‐	‐	‐ ‐

23,100,183

$0		‐	‐ 2021 Actual

‐	‐ 2022 Projected

‐	‐ 2023 Projected

‐	‐ 2024 Projected

‐	‐ 2025 Projected

‐	‐ 2026 Projected

Total Revenue	Replace/Renew Levies	New Levies	Total Expenditures	15.01 Cash Balance

Note: Cash balance (Line 7.020) plus any existing levy modeled as renewed or new during the forecast.

Financial Forecast
	Fiscal Year                 Fiscal Year                 Fiscal Year 2022                           2023                           2024
	Fiscal Year                 Fiscal Year 2025                           2026

Beginning Balance (Line 7.010) Plus Renewal/New Levies Modeled
	
15,796,325	17,439,469	19,641,272
	
21,258,209	22,383,534
	
+ Revenue
+ Proposed Renew/Replacement Levies + Proposed New Levies
‐ Expenditures
	39,613,524	41,943,852	42,224,564 ‐                                  ‐                                  ‐
‐	‐	‐ (37,970,380)             (39,742,050)             (40,607,627)
	42,698,815	43,140,580 ‐                                  ‐
‐	‐ (41,573,490)             (42,423,931)
	
= Revenue Surplus or Deficit
	1,643,144	2,201,802	1,616,937
	1,125,325	716,649
	
Line 7.020 Ending Balance with renewal/new levies
	17,439,469	19,641,272	21,258,209
	22,383,534	23,100,183

Analysis Without Renewal Levies Included:
Revenue Surplus or Deficit w/o Levies Ending Balance w/o Levies
	1,643,144                  2,201,802                  1,616,937 17,439,469               19,641,272               21,258,209
	1,125,325                     716,649 22,383,534               23,100,183

In FY 2022 a revenue surplus is expected. This means that expenditures are expected to be less than revenue by ‐$1,643,144 in FY 2022. By the last year of the forecast, FY 2026, the district is expected to have a revenue surplus where expenditures are projected to be less than revenue by ‐$716,649 The district would need to cut its FY 2026 projected expenses by ‐1.69% in order to balance its budget without additional revenue.

The district's cash balance is positive at year‐end in FY 2022 and is projected to improve by FY 2026. A worsening cash balance can erode the district's financial stability over time.

This forecast includes the Fair School Funding Plan (FSFP) adopted by Ohio starting in FY 2022. The district expects a combined impact of $138,491 in FY 2022. This forecast includes a CFO adjusted trend calculation of the FSFP impact using current information. As information changes the estimates will be updated. The district is considered a guarantee district in FY 2022. A detailed state funding supplement to this forecast has been prepared and should be reviewed and considered part of the forecast assumptions.

guarantee district in FY 2022.

3

Forecast5 Analytics ReportWriter Software 2019 ©

$33,170,693
$37,766,035
$32,975,315
$37,621,355
$36,900,503
$39,613,524
$41,943,852
$42,224,564
$42,698,815
$43,140,580
Indian Hill Exempted Village School District

Revenue Sources and Forecast Year‐Over‐Year Projected Overview

Sources of Revenue Over Time

100.0%

90.0%

80.0%
State
70.0%	        Funding	

60.0%

50.0%

40.0%                       Real 30.0%                     Estate

20.0%

10.0%

0.0%
2021

$0
$0
$0
$0
$0
State Funding

Real Estate

2026	2017	2018	2019	2020	2021	2022	2023	2024	2025	2026

Real Estate Income Tax Prop Tax Alloc Other Sources

$6,000,000

Public Utility State Funding All Othr Op Rev

Renewal Levy Revenue

Year‐Over‐Year Dollar & Percentage Change

20.00%

$4,000,000

$2,000,000

$0

($2,000,000)

($4,000,000)

($6,000,000)

13.85%	14.09%

7.35%	5.88%

0.67% ‐1.92%

‐12.69%

2018	2019	2020	2021	2022	2023	2024

1.12%	1.03%

2025	2026

15.00%

10.00%

5.00%

0.00%

‐5.00%

‐10.00%

‐15.00%

Annual Dollar Change	Annual Percentage Change

3‐Year Historical Actual Average Annual Dollar Change Compared to 5‐Year Projected
	Historical Average Annual
$$ Change
	Projected Average Annual
$$ Change
	Projected Compared to Historical Variance
	Total revenue decreased ‐0.81% or ‐$288,511 annually during the past five years and is projected to increase 2.98% or $1,248,015 annually through FY2026. Real Estate has the most projected average annual variance compared to the historical average at $1,527,898
	
Real Estate	($672,265)	$855,633	$1,527,898 Public Utility                                                           ($7,664)               $38,791                    $46,455 Income Tax                                                                      $0                           $0                              $0 State Funding                                                      ($50,926)	$108,625                  $159,551 Prop Tax Alloc                                                       $34,862                $31,341                    ($3,521) All Othr Op Rev                                                  $400,035	$213,248               ($186,787) Other Sources                                                         $7,447                      $377                    ($7,070)

Total Average Annual Change                           ($288,511)         $1,248,015               $1,536,526 ‐0.81%                    2.98%                      3.78%

Note: Expenditure average annual change is projected

to be >	$1,307,977 On an annual average basis, expenditures are projected to grow faster than revenue.

4

Forecast5 Analytics ReportWriter Software 2019 ©

Indian Hill Exempted Village School District

1.010 ‐ General Property Tax (Real Estate)

Revenue collected from taxes levied by a school district by the assessed valuation of real property using effective tax rates for class I (residential/agricultural) and class II (business).

$0
$0
Real Estate as % of Total Revenue

100.0% 90.0%
80.0%
70.0%	68.6%

60.0% 50.0% 40.0% 30.0% 20.0% 10.0%
0.0%
2021

$0
$0
$0
68.6%

$23,706,171
$27,343,946
$21,710,369
$24,634,247
$25,327,151
$27,355,669
$29,000,116
$29,254,159
$29,467,988
$29,605,314
2026
2017	2018	2019	2020	2021	2022	2023	2024	2025	2026

Renewal Levy Revenue

Year‐Over‐Year Dollar & Percentage Change

$6,000,000

$4,000,000

$2,000,000

$0

($2,000,000)

($4,000,000)

($6,000,000)

($8,000,000)

15.35%	13.47%

8.01%	6.01% 2.81%

‐20.60%

2018	2019	2020	2021	2022	2023

0.88%	0.73%

2024	2025

20.00% 15.00% 10.00% 5.00%
0.47%      0.00% ‐5.00% ‐10.00% ‐15.00% ‐20.00%
‐25.00% 2026

Annual Dollar Change	Annual Percentage Change

Values, Tax Rates and Gross Collections
Tax Yr	Valuation	Value Change 2020               1,352,653,950           104,375,780 2021               1,358,878,200               6,224,250 2022               1,367,358,200               8,480,000 2023               1,395,758,200             28,400,000 2024               1,399,981,440               4,223,240 2025               1,405,176,440               5,195,000

Class I Rate 21.50 23.99 24.01 23.77 23.81 23.83

Change	Class II Rate	Change
‐	20.00	‐ 2.49	22.48                         2.48 0.02	22.50                         0.02
(0.24)                      22.20                        (0.30) 0.05                       22.22                         0.02 0.02                       22.25                         0.02

Gross Collection Rate Including Delinquencies 99.3% 99.0% 99.0% 99.0% 99.0% 99.0%

Real estate property tax revenue accounts for 68.64% of total revenue. Class I or residential/agricultural taxes make up approximately 89.77% of the real estate property tax revenue. The Class I tax rate is 23.99 mills in tax year 2021. The projections reflect an average gross collection rate of 99.0% annually through tax year 2025. The revenue changed at an average annual historical rate of ‐2.81% and is projected to change at an average annual rate of 2.96% through FY 2026.

*Projected % trends include renewal levies

5

Forecast5 Analytics ReportWriter Software 2019 ©

$449,652
$590,537
$538,700
$602,605
$567,545
$717,789
$743,349
$750,723
$758,097
$761,501
Indian Hill Exempted Village School District

1.020 ‐ Public Utility Personal Property

Revenue generated from public utility personal property valuations multiplied by the district's full voted tax rate.

$0
$0
$0
$0
$0
PUPP as % of Total Revenue

100.0% 90.0% 80.0% 70.0% 60.0% 50.0% 40.0% 30.0% 20.0%
10.0%	1.5% 0.0%
2021

1.8%

2026	2017	2018	2019	2020	2021	2022	2023	2024	2025	2026

Renewal Levy Revenue

Year‐Over‐Year Dollar & Percentage Change

$200,000

$150,000

$100,000

$50,000

$0

($50,000)

($100,000)

31.33%

‐8.78%

2018	2019

11.86%

‐5.82%

2020	2021

26.47%

3.56%	0.99%	0.98%

2022	2023	2024	2025

35.00% 30.00% 25.00% 20.00% 15.00% 10.00% 5.00%
0.45%      0.00% ‐5.00% ‐10.00%
‐15.00% 2026

Annual Dollar Change	Annual Percentage Change

Values and Tax Rates
Tax Year	Valuation 2020                   16,168,030 2021                   16,343,030 2022                   16,418,030 2023                   16,668,030 2024                   16,743,030 2025                   16,818,030

Value Change 1,118,430
175,000 75,000 250,000 75,000 75,000

Full Voted Rate	Change 42.92                           ‐ 45.38                         2.46 45.38                           ‐ 45.38                           ‐ 45.38                           ‐ 45.38                           ‐

Gross Collection Rate Including Delinquencies 100.0% 100.0% 100.0% 100.0% 100.0% 100.0%

The public utility personal property tax revenue is generated from the personal property values, additions, and depreciation reported by the utility companies. This category currently makes up 1.54% of total district revenue. The property is taxed at the full voted tax rate which in tax year 2021 is 45.38 mills. The forecast is modeling an average gross collection rate of 100.00%. The revenue changed historically at an average annual dollar amount of ‐$7,664 and is projected to change at an average annual dollar amount of $38,791 through FY 2026.

*Projected % trends include renewal levies

6

Forecast5 Analytics ReportWriter Software 2019 ©

Indian Hill Exempted Village School District

1.030 ‐ No Income Tax

Revenue collected from income tax earmarked specifically to support schools with a voter approved tax by residents of the school district; separate from federal, state and municipal income taxes.

Income Tax as % of Total Revenue 100.0%
90.0% 80.0% 70.0% 60.0% 50.0% 40.0% 30.0% 20.0%
$0
$0
$0
$0
$0
‐ $0
‐ $0
‐ $0
‐ $0
‐ $0
10.0%	0.0%	0.0% 0.0%

2021	2026	2017	2018	2019	2020	2021	2022	2023	2024	2025	2026

Renewal Levy Revenue

Year‐Over‐Year Dollar & Percentage Change

$1 $1 $1 $1 $1 $1 $0 $0 $0 $0
$0		0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00% 2018                          2019                          2020                          2021                          2022                          2023                          2024                          2025

100.00% 90.00% 80.00% 70.00% 60.00% 50.00% 40.00% 30.00% 20.00% 10.00%
0.00%       0.00% 2026

Annual Dollar Change	Annual Percentage Change

The district does not have an income tax levy.

*Projected % trends include renewal levies

7

Forecast5 Analytics ReportWriter Software 2019 ©

Indian Hill Exempted Village School District

1.035 ‐ Unrestricted Grants‐in‐Aid

Funds received through the State Foundation Program with no restriction.

Unrestricted as % of Total Revenue 100.0%
$1,406,651
$1,505,969
$1,451,035
$1,399,482
$1,381,519
$1,215,280
$1,348,740
$1,503,855
$1,657,705
$1,857,840
90.0% 80.0% 70.0% 60.0% 50.0% 40.0% 30.0% 20.0%
10.0%     	3.7%	4.3%	

0.0%		2017	2018	2019	2020	2021	2022	2023	2024	2025	2026 2021                                      2026

Year‐Over‐Year Dollar & Percentage Change

$250,000 $200,000 $150,000 $100,000 $50,000 $0 ($50,000) ($100,000)
($150,000)

7.06%

‐1.28% ‐3.65%	‐3.55%

10.98%	11.50%

‐12.03%

15.00%

12.07%
10.23%	10.00%

5.00%

0.00%

‐5.00%

‐10.00%

($200,000)
2018	2019	2020	2021	2022	2023	2024	2025

‐15.00% 2026

Annual Dollar Change

Distric Educated Enrollment

Annual Percentage Change

Beginning in FY 2022 Ohio adopted the Fair School Funding Plan (FSFP). Funding is driven by a base cost methodology that incorporates the four

3,000

2,500

2,000	1,941      1,985      2,013      2,102      2,068

1,500

components identified as necessary to the education process. The Base

Cost is currently calculated for two years using a statwide average from 2,210      2,264      2,318      2,371      2,425	historical actual data.

For Indian Hill Exempted Village School District the calculated Base Cost total is $14,765,922 in FY 2022.
The state's share of the calculated Base Cost total is $789,068 or $357 per pupil.

1,000

500

0
FY 2017 FY 2018 FY 2019 FY 2020 FY 2021 FY 2022 FY 2023 FY 2024 FY 2025 FY 2026

The FSFP change to district educated enrollment will reduce funded enrollment but also potentially reduce tuition cost. In FY 2021, the district had approximately $319,763 in possible tuition cost reductions. These reductions will be reflected in the purchased services expenditure note.

Kindergarten	Grades 1 ‐ 3	Grades 4 ‐ 8	Grades 9 ‐ 12	Total

8

Forecast5 Analytics ReportWriter Software 2019 ©

Indian Hill Exempted Village School District

1.040 & 1.045 ‐ Restricted Grants‐in‐Aid

Funds received through the State Foundation Program or other allocations that are restricted for specific purposes.

Restricted as % of Total Revenue 100.0%
$156,623
$172,886
$127,274
$134,553
$144,557
$224,795
$220,022
$216,294
$212,442
$211,362
90.0% 80.0% 70.0% 60.0% 50.0% 40.0% 30.0% 20.0%
10.0%	0.4%	0.5%
0.0%	2017	2018	2019	2020	2021	2022	2023	2024	2025	2026
2021	2026

Year‐Over‐Year Dollar & Percentage Change

$100,000

$80,000

$60,000

$40,000

$20,000

$0

($20,000)

($40,000)

10.38%	5.72%

‐26.38%

55.51%

7.44%

‐2.12%	‐1.69%

60.00% 50.00% 40.00% 30.00% 20.00% 10.00%
‐1.78%	‐0.51%     0.00% ‐10.00%

‐20.00%

‐30.00%

($60,000)
2018	2019	2020	2021	2022	2023	2024	2025

‐40.00% 2026

Annual Dollar Change	Annual Percentage Change

Restricted aid is the portion of state per pupil funding that must be classifed as restricted use. Historically the district's restricted state aid changed annually on average by ‐$9,443 and is projected to change annually on average by $13,361. Restricted funds represent 0.39% of total revenue. Starting in FY 2022 the district's Success & Wellness funding is considered restricted, the state's share of this funding is recorded as restricted is $29,375. This funding has implications on general fund expenditures in that certain spending now occuring in a fund external to the general fund could shift to the general fund. The expenditures in this forecast are adjusted to reflect this change.

9

Forecast5 Analytics ReportWriter Software 2019 ©

$3,009,086
$3,043,043
$3,069,316
$3,062,553
$3,147,629
$3,206,055
$3,234,741
$3,263,326
$3,288,453
$3,304,336
Indian Hill Exempted Village School District

1.050 ‐ Property Tax Allocation

Includes funds received for Tangible Personal Property Tax Reimbursement, Electric Deregulation, Homestead and Rollback.

$0
$0
$0
$0
$0
Property Tax Allocation as % of Total Revenue

100.0% 90.0% 80.0% 70.0% 60.0% 50.0% 40.0% 30.0% 20.0% 10.0%
0.0%

8.5%	7.7%

2021	2026	2017	2018	2019	2020	2021	2022	2023	2024	2025	2026

Renewal Levy Revenue

Year‐Over‐Year Dollar & Percentage Change

$100,000

$80,000

$60,000

$40,000

$20,000

$0

($20,000)

1.13%
0.86%

2018	2019

2.78%

1.86%

0.89%

‐0.22%

2020	2021	2022	2023

0.88%	0.77%

2024	2025

3.00%

2.50%

2.00%

1.50%

1.00%

0.48%      0.50%

0.00%

‐0.50% 2026

Annual Dollar Change	Annual Percentage Change

Property tax allocation primarily consists of reimbursements from the state of Ohio for local taxpayer credits or reductions. The state reduces the local taxpayer's tax bill with a 10% rollback credit, and 2.5% owner‐occupied rollback credit, plus a homestead credit for qualifying taxpayers. In FY 2022, approximately 10.5% local residential property taxes will be reimbursed by the state in the form of rollback credits and approximately 0.4% will be reimbursed in the form of qualifying homestead exemption credits.

*Projected % trends include renewal levies

10

Forecast5 Analytics ReportWriter Software 2019 ©

Indian Hill Exempted Village School District

1.060 ‐ All Other Operating Revenues

Operating revenue sources not included in other lines; examples include tuition, fees, earnings on investments, rentals, and donations.

Other Revenue as % of Total Revenue 100.0%
90.0% 80.0% 70.0% 60.0% 50.0% 40.0%
$4,442,488
$5,088,881
$5,759,634
$7,692,335
$6,288,987
$6,848,937
$7,351,884
$7,191,208
$7,269,131
$7,355,227
30.0%

20.0%     	17.0%	17.0%	

10.0%

0.0%

2021	2026	2017	2018	2019	2020	2021	2022	2023	2024	2025	2026

Year‐Over‐Year Dollar & Percentage Change

$2,500,000 $2,000,000 $1,500,000 $1,000,000 $500,000 $0 ($500,000)
($1,000,000) ($1,500,000)
($2,000,000)

33.56%

14.55%	13.18%

2018	2019	2020

8.90%	7.34%

‐18.24%

2021	2022	2023

‐2.19%	1.08%

2024	2025

40.00%

30.00%

20.00%

10.00%

1.18%      0.00%

‐10.00%

‐20.00%

‐30.00% 2026

Annual Dollar Change	Annual Percentage Change

Other revenue includes tuition received by the district for non‐resident students educated by the district. It also includes interest income, payments in lieu of taxes, and miscellaneous revenue. The historical average annual change was $400,035. The projected average annual change is $213,248 through FY 2026. The FSFP includes per pupil funding for any open enrollment in students the district is educating. This revenue, if any, was recorded in 'other revenue' prior to FY 2022. Fiscal year 2022 and beyond will not include any open enrollment in revenue.The district did not post any revenue code 1227 open enrollment in revenue in FY 2021.

11

Forecast5 Analytics ReportWriter Software 2019 ©

Indian Hill Exempted Village School District

2.070 ‐ Total Other Financing Sources

Includes proceeds from sale of notes, state emergency loans and advancements, operating transfers‐in, and all other financing sources like sale and loss of assets, and refund of prior year expenditures.

Other Sources as % of Total Revenue

100.0% 90.0% 80.0% 70.0% 60.0% 50.0% 40.0% 30.0% 20.0%
10.0%	0.1% 0.0%

2021

$21
$20,773
$318,985
$95,581
$43,114
$45,000
$45,000
$45,000
$45,000
$45,000
0.1%	2017	2018	2019	2020	2021	2022	2023	2024	2025	2026 2026

Year‐Over‐Year Dollar & Percentage Change

$400,000

$300,000

$200,000

$100,000

$0

($100,000)

($200,000)

96608.57%

1435.58%	‐70.04%	‐54.89%	4.37%	0.00%	0.00%

120000.00%

100000.00%

80000.00%

60000.00%

40000.00%

20000.00%

0.00%	0.00%      0.00%

($300,000)
2018	2019	2020	2021	2022	2023	2024	2025

‐20000.00% 2026

Annual Dollar Change	Annual Percentage Change

	FORECASTED
	
	2021
	2022
	2023
	2024
	2025
	2026
	
Transfers In
	‐
	‐
	‐
	‐
	‐
	‐
	
Advances In
	19,549
	30,000
	30,000
	30,000
	30,000
	30,000
	
All Other Financing Sources
	23,566
	15,000
	15,000
	15,000
	15,000
	15,000

Other sources includes revenue that is generally classified as non‐operating. Return advances‐in are the most common revenue source. In FY 2021 the district receipted $19,549 as advances‐in and is projecting advances of $30,000 in FY 2022. The district also receives other financing sources such as refund of prior year expenditures in this category. The district is projecting that all other financing sources will be $15,000 in FY 2022 and average $15,000 annually through FY 2026.

12

Forecast5 Analytics ReportWriter Software 2019 ©

$34,614,248
$35,499,554
$36,274,028
$41,413,227
$35,884,047
$37,970,380
$39,742,050
$40,607,627
$41,573,490
$42,423,931
Indian Hill Exempted Village School District

Expenditure Categories and Forecast Year‐Over‐Year Projected Overview Expenditure Categories Over Time

100.0%

90.0%

80.0%

70.0%	Benefits

60.0%

50.0%

40.0%

30.0%	Salaries

20.0%

10.0%

0.0%

2021

Salaries
Purchased Services Capital Outlay Other Objects

Benefits

Salaries

2026	2017	2018	2019	2020	2021	2022	2023	2024	2025	2026 Benefits
Supplies & Materials Intergov & Debt Other Uses

Year‐Over‐Year Dollar & Percentage Change

$6,000,000

$4,000,000

$2,000,000

$0

($2,000,000)

($4,000,000)

($6,000,000)

($8,000,000)

2.56%	2.18%

2018	2019

14.17%

5.81%	4.67%
2.18%	2.38%

‐13.35%

2020	2021	2022	2023	2024	2025

20.00%

15.00%

10.00%

5.00% 2.05%      0.00%

‐5.00%

‐10.00%

‐15.00% 2026

Annual Dollar Change	Annual Percentage Change

3‐Year Historical Actual Average Annual Dollar Change Compared to 5‐Year Projected
	Historical Average Annual
$$ Change
	Projected Average Annual
$$ Change
	Projected Compared to Historical Variance
	Total expenditures increased 0.34% or $128,164 annually during the past five years and is projected to increase 3.65% or $1,307,977 annually through FY2026. Capital Outlay has the largest projected average annual variance compared to the historical average at $740,865.
	
Salaries	$652,195	$590,424	($61,772) Benefits                                                                  ($21,080)	$500,151                 $521,230 Purchased Services	$191,838                $85,661              ($106,176) Supplies & Materials                                              $25,417                   $8,141	($17,276) Capital Outlay                                                      ($696,515)               $44,350                 $740,865 Intergov & Debt                                                        $9,725                $62,133                   $52,408 Other Objects                                                        ($28,784)               $14,838                   $43,622 Other Uses                                                               ($4,632)                 $2,279                      $6,910
		
Total Average Annual Change                               $128,164           $1,307,977              $1,179,812 0.34%                    3.65%                     3.31%

Note: Expenditure average annual change is projected
to be > $1,307,977

On an annual average basis, revenues are projected to grow slower than expenditures.

13

Forecast5 Analytics ReportWriter Software 2019 ©

2.00%
Indian Hill Exempted Village School District

3.010 ‐ Personnel Services

Employee salaries and wages, including extended time, severance pay, supplemental contracts, etc.

Salaries as % of Total Expenditures

100.0% 90.0% 80.0%
70.0%	60.1% 60.0%

50.0% 40.0% 30.0% 20.0% 10.0%
0.0%
2021

57.8%

$19,939,079
$19,609,110
$20,847,735
$21,667,178
$21,565,695
$22,094,837
$23,309,721
$23,689,221
$24,150,330
$24,517,813
2026	2017	2018	2019	2020	2021	2022	2023	2024	2025	2026

Year‐Over‐Year Dollar & Percentage Change

$1,400,000 $1,200,000 $1,000,000 $800,000 $600,000 $400,000
$200,000

6.32%

5.50%

3.93%

2.45%
1.63%

7.00% 6.00% 5.00% 4.00% 3.00%
1.95%	1.52%     1.00%

0.00%
$0
($200,000)                                                                                                                    ‐0.47%                                                                                                                                                             ‐1.00% ($400,000)                         ‐1.65%                                                                                                                                                                                                                                                          ‐2.00%

($600,000)		‐3.00% 2018                      2019                      2020                      2021                      2022                      2023                      2024                      2025                      2026

Annual Dollar Change	Annual Percentage Change

Salaries represent 60.10% of total expenditures and increased at a historical average annual rate of 3.05% or $652,195. This category of expenditure is projected to grow at an annual average rate of 2.51% or $590,424 through FY 2026. The projected average annual rate of change is ‐0.55% less than the five year historical annual average.

14

Forecast5 Analytics ReportWriter Software 2019 ©

$6,834,754
$6,882,952
$7,394,948
$7,453,139
$6,819,714
$7,671,779
$8,119,831
$8,490,969
$8,900,854
$9,320,467
Indian Hill Exempted Village School District

3.020 ‐ Employees' Benefits

Retirement for all employees, Workers Compensation, early retirement incentives, Medicare, unemployment, pickup on pickup, and all health‐ related insurances.

Benefits as % of Total Expenditures

100.0% 90.0% 80.0% 70.0% 60.0% 50.0% 40.0% 30.0% 20.0% 10.0%
0.0%

19.0%	22.0%

2017	2018	2019	2020	2021	2022	2023	2024	2025	2026

2021	2026

Year‐Over‐Year Dollar & Percentage Change

$1,000,000 $800,000 $600,000 $400,000 $200,000 $0 ($200,000)
($400,000)

7.44%

0.71%	0.79%

12.49%

5.84%	4.57%

15.00%

10.00%

4.83%	4.71%     5.00%

0.00%

‐5.00%

($600,000)

($800,000)
2018	2019	2020

‐8.50%

2021	2022	2023	2024	2025

‐10.00% 2026

Annual Dollar Change	Percentage of Total Budget

Benefits represent 19.00% of total expenditures and decreased at a historical average annual rate of ‐0.29% This category of expenditure is projected to grow at an annual average rate of 5.88% through FY 2026. The projected average annual rate of change is 6.18% more than the five year historical annual average.

15

Forecast5 Analytics ReportWriter Software 2019 ©

Indian Hill Exempted Village School District

3.030 ‐ Purchased Services

Amounts paid for personal services rendered by personnel who are not on the payroll of the school district, expenses for tuition paid to other districts, utilities costs and other services which the school district may purchase.

Purchased Services as % of Total Expenditures

$4,832,467
$4,302,742
$4,781,196
$4,398,282
$4,878,255
$4,994,411
$5,086,085
$5,183,651
$5,261,128
$5,306,561
100.0% 90.0% 80.0% 70.0% 60.0% 50.0% 40.0% 30.0%
20.0%	13.6%	12.5%

10.0%
0.0%	2017	2018	2019	2020	2021	2022	2023	2024	2025	2026

2021	2026

Year‐Over‐Year Dollar & Percentage Change

$600,000

$400,000

$200,000

$0

($200,000)

($400,000)

11.12%	10.91%

2.38%	1.84%	1.92%

‐8.01%

‐10.96%

15.00%

10.00%

5.00%

1.49%	0.86%     0.00%

‐5.00%

‐10.00%

($600,000)
2018	2019	2020	2021	2022	2023	2024

‐15.00% 2025	2026

Annual Dollar Change	Annual Percentage Change

Total Formula ADM Compared to District Educated

2,167

2,080
		2,139
	
		2,102

2,068

		

2,013

										

Purchased Services represent 13.59% of total expenditures and increased at a historical average annual rate of 4.09%. This category of expenditure is projected to grow at an annual average rate of 1.66% through FY 2026 The FSFP funds only district educated enrollment thereby reducing tuition cost for open enrollment out, community schools, STEM, and scholarships starting in FY 2022. In FY 2021 these costs totaled $319,763. The graph to the left reflects the difference between past formula enrolled compared to actual district educated.

FY 2019

Total ADM

FY 2020	FY 2021

District Educated Enrollment

16

Forecast5 Analytics ReportWriter Software 2019 ©

Indian Hill Exempted Village School District

3.040 ‐ Supplies & Materials

Expenditures for general supplies, instructional materials including textbooks and media material, bus fuel and tires, and all other maintenance supplies.

Supplies & Materials as % of Total Expenditures

$1,273,039
$1,381,586
$1,323,215
$1,286,874
$1,457,837
$1,449,467
$1,461,268
$1,473,484
$1,485,669
$1,498,542
100.0% 90.0% 80.0% 70.0% 60.0% 50.0% 40.0% 30.0% 20.0%
10.0%     	4.1%	3.5%	

0.0%
2021	2026

2017	2018	2019	2020	2021	2022	2023	2024	2025	2026

Year‐Over‐Year Dollar & Percentage Change

$200,000

$150,000

$100,000

$50,000

$0

($50,000)

($100,000)

8.53%

‐2.75% ‐4.22%

2018	2019	2020

13.29%

0.81%	0.84%	0.83% ‐0.57%

2021	2022	2023	2024	2025

16.00% 14.00% 12.00% 10.00% 8.00% 6.00% 4.00%

2.00%
0.87%     0.00% ‐2.00% ‐4.00% ‐6.00%
2026

Annual Dollar Change	Annual Percentage Change

Supplies & Materials represent 4.06% of total expenditures and increased at a historical average annual rate of 1.87%. This category of expenditure is projected to grow at an annual average rate of 0.55% through FY 2026. The projected average annual rate of change is ‐1.32% less than the five year historical annual average.

17

Forecast5 Analytics ReportWriter Software 2019 ©

Indian Hill Exempted Village School District

3.050 ‐ Capital Outlay

This line includes expenditures for items having at least a five‐year life expectancy, such as land, buildings, improvements of grounds, equipment, computers/technology, furnishings, and buses.

Capital Outlay 100.0%
90.0% 80.0% 70.0% 60.0% 50.0% 40.0% 30.0% 20.0%
10.0%	1.9%	2.1% 0.0%
2021	2026

$1,208,804
$2,767,792
$1,424,434
$6,107,228
$678,248
$900,000
$900,000
$900,000
$900,000
$900,000
2017	2018	2019	2020	2021	2022	2023	2024	2025	2026

Year‐Over‐Year Dollar & Percentage Change

$6,000,000

$4,000,000

$2,000,000

$0

($2,000,000)

($4,000,000)

128.97%

‐48.54%

328.75%

32.69%
0.00%	0.00%	0.00%

‐88.89%

350.00% 300.00% 250.00% 200.00% 150.00% 100.00% 50.00%
0.00% 0.00% ‐50.00%
‐100.00%

($6,000,000)
2018	2019	2020	2021

‐150.00% 2022	2023	2024	2025	2026

Annual Dollar Change	Annual Percentage Change

Capital Outlay represent 1.89% of total expenditures and decreased at a historical average annual amount of ‐$696,515. This category of expenditure is projected to grow at an annual average rate of $44,350 through FY 2026. The projected average annual change is more than the five year historical annual average.

18

Forecast5 Analytics ReportWriter Software 2019 ©

Indian Hill Exempted Village School District

3.060‐4.060 ‐ Intergovernmental & Debt

These lines account for pass through payments, as well as monies received by a district on behalf of another governmental entity, plus principal and interest payments for general fund borrowing.

Debt as % of Total Expenditures 100.0%
$29,175
$339,050
$339,400
$339,600
$339,800
$339,840
90.0% 80.0% 70.0% 60.0% 50.0% 40.0% 30.0% 20.0%
$0
$0
$0
$0
10.0%	0.1%	0.8% 0.0%
2021	2026	2017	2018	2019	2020	2021	2022	2023	2024	2025	2026

$350,000

$300,000

$250,000

$200,000

$150,000

$100,000

$50,000

Year‐Over‐Year Dollar & Percentage Change

1062.15%

1200.00%

1000.00%

800.00%

600.00%

400.00%

200.00%

$0		0.00% 2018

0.00%	0.00%	0.00%
2019	2020	2021	2022

0.10%	0.06%	0.06% 2023                      2024                      2025

0.01%     0.00% 2026

Annual Dollar Change	Annual Percentage Change

The Intergovernmental/Debt expenditure category details general fund debt issued by the District.

19

Forecast5 Analytics ReportWriter Software 2019 ©

Indian Hill Exempted Village School District

4.300 ‐ Other Objects

Primary components for this expenditure line are membership dues and fees, ESC contract deductions, County Auditor/Treasurer fees, audit expenses, and election expenses.

Other Objects as % of Total Expenditures

100.0% 90.0% 80.0% 70.0% 60.0% 50.0% 40.0% 30.0% 20.0%
10.0%	1.2% 0.0%
2021

$523,278
$522,872
$420,091
$480,976
$436,519
$490,836
$495,744
$500,702
$505,709
$510,709
1.2%

2026	2017	2018	2019	2020	2021	2022	2023	2024	2025	2026

Year‐Over‐Year Dollar & Percentage Change

$80,000 $60,000 $40,000 $20,000 $0 ($20,000) ($40,000) ($60,000) ($80,000)
($100,000)

14.49%	12.44%

‐0.08%	1.00%	1.00%	1.00%

‐9.24%

‐19.66%

20.00% 15.00% 10.00%
5.00% 0.99%     0.00%

‐5.00% ‐10.00% ‐15.00%
‐20.00%

($120,000)
2018	2019	2020	2021	2022	2023	2024	2025

‐25.00% 2026

Annual Dollar Change	Annual Percentage Change

Other Objects represent 1.22% of total expenditures and decreased at a historical average annual rate of ‐6.46%. This category of expenditure is projected to grow at an annual average rate of 2.96% through FY 2026. The projected average annual rate of change is 9.42% more than the five year historical annual average.

20

Forecast5 Analytics ReportWriter Software 2019 ©

$2,826
$32,500
$82,409
$19,549
$18,605
$30,000
$30,000
$30,000
$30,000
$30,000
Indian Hill Exempted Village School District

5.040 ‐ Total Other Financing Uses

Operating transfers‐out, advances out to other funds, and all other general fund financing uses.

Other Objects as % of Total Expenditures

100.0% 90.0% 80.0% 70.0% 60.0% 50.0% 40.0% 30.0% 20.0%
10.0%	0.1% 0.0%

2021

0.1%

2026	2017	2018	2019	2020	2021	2022	2023	2024	2025	2026

Year‐Over‐Year Dollar & Percentage Change $60,000
$40,000	1050.04%

$20,000

$0

($20,000)

1200.00%

1000.00%

800.00%

600.00%

400.00%

($40,000)

($60,000)

($80,000)
2018

153.56%

2019

‐76.28%	‐4.83%

2020	2021

61.24%	0.00%	0.00%	0.00%

2022	2023	2024	2025

200.00%

0.00%     0.00%

‐200.00% 2026

Annual Dollar Change	Annual Percentage Change

	FORECASTED
	
	2021
	2022
	2023
	2024
	2025
	2026
	
Transfers Out
	‐
	‐
	‐
	‐
	‐
	‐
	
Advances Out
	18,605
	30,000
	30,000
	30,000
	30,000
	30,000
	
Other Financing Uses
	‐
	‐
	‐
	‐
	‐
	‐

Other uses includes expenditures that are generally classified as non‐operating. It is typically in the form of advances‐out which are then repaid into the general fund from the other district funds. In FY 2021 the district had advances‐out and has advances‐out forecasted through FY 2026. The district can also move general funds permanently to other funds and as the schedule above presents, the district has no transfers forecasted through FY 2026. The table above presents the district's planned advances and transfers. The district can also have other uses of funds which is reflected in the table above.

21

Forecast5 Analytics ReportWriter Software 2019 ©

Indian Hill Exempted Village School District Five Year Forecast

Fiscal Year:
	Actual
	FORECASTED
	
	2021
	2022	2023	2024	2025	2026
	
Revenue:
1.010 ‐ General Property Tax (Real Estate) 1.020 ‐ Public Utility Personal Property 1.030 ‐ Income Tax
1.035 ‐ Unrestricted Grants‐in‐Aid 1.040 ‐ Restricted Grants‐in‐Aid 1.050 ‐ Property Tax Allocation
1.060 ‐ All Other Operating Revenues
	
25,327,151 567,545
‐ 1,381,519
144,557 3,147,629 6,288,987
	
27,355,669                29,000,116                29,254,159                29,467,988                29,605,314 717,789                      743,349                      750,723                      758,097                      761,501
‐	‐	‐	‐	‐ 1,215,280                   1,348,740                   1,503,855                   1,657,705                   1,857,840
224,795	220,022	216,294	212,442	211,362 3,206,055                   3,234,741                   3,263,326                   3,288,453                   3,304,336 6,848,937                   7,351,884                   7,191,208                   7,269,131                   7,355,227
	
1.070 ‐ Total Revenue
	36,857,389
	39,568,525	41,898,852	42,179,565	42,653,816	43,095,580
	
Other Financing Sources:
2.010 ‐ Proceeds from Sale of Notes 2.020 ‐ State Emergency Loans and Adv 2.040 ‐ Operating Transfers‐In
2.050 ‐ Advances‐In
2.060 ‐ All Other Financing Sources 2.070 ‐ Total Other Financing Sources
	
‐ ‐ ‐
19,549 23,566
	
‐	‐	‐	‐	‐ ‐	‐	‐	‐	‐ ‐	‐	‐	‐	‐
30,000                        30,000                        30,000                        30,000                        30,000 15,000                        15,000                        15,000                        15,000                        15,000
	
	43,114
	45,000	45,000	45,000	45,000	45,000
	
2.080 ‐ Total Rev & Other Sources
	36,900,503
	39,613,524	41,943,852	42,224,564	42,698,815	43,140,580
	
Expenditures:
3.010 ‐ Personnel Services 3.020 ‐ Employee Benefits 3.030 ‐ Purchased Services 3.040 ‐ Supplies and Materials 3.050 ‐ Capital Outlay
Intergovernmental & Debt Service
4.300 ‐ Other Objects
	
21,565,695 6,819,714 4,878,255 1,457,837 678,248 29,175
436,519
	
22,094,837                23,309,721                23,689,221                24,150,330                24,517,813 7,671,779                   8,119,831                   8,490,969                   8,900,854                   9,320,467 4,994,411                   5,086,085                   5,183,651                   5,261,128                   5,306,561 1,449,467                   1,461,268                   1,473,484                   1,485,669                   1,498,542 900,000                      900,000                      900,000                      900,000                      900,000 339,050                      339,400                      339,600                      339,800                      339,840
490,836	495,744	500,702	505,709	510,709
	
4.500 ‐ Total Expenditures
	35,865,442
	37,940,380	39,712,050	40,577,627	41,543,490	42,393,931
	
Other Financing Uses
5.010 ‐ Operating Transfers‐Out 5.020 ‐ Advances‐Out
5.030 ‐ All Other Financing Uses 5.040 ‐ Total Other Financing Uses
	
‐ 18,605
‐
	
‐	‐	‐	‐	‐ 30,000                        30,000                        30,000                        30,000                        30,000
‐	‐	‐	‐	‐
	
	18,605
	30,000	30,000	30,000	30,000	30,000
	
5.050 ‐ Total Exp and Other Financing Uses
	35,884,047
	37,970,380	39,742,050	40,607,627	41,573,490	42,423,931

6.010 ‐ Excess of Rev Over/(Under) Exp
	1,016,456
	1,643,144	2,201,802	1,616,937	1,125,325	716,649

7.010 ‐ Cash Balance July 1 (No Levies)
	14,779,869
	15,796,325	17,439,469	19,641,272	21,258,209	22,383,534
	
7.020 ‐ Cash Balance June 30 (No Levies)
	15,796,325
	17,439,469	19,641,272	21,258,209	22,383,534	23,100,183

	Reservations
		
8.010 ‐ Estimated Encumbrances June 30 9.080 ‐ Reservations Subtotal
	‐ ‐
	‐                                    ‐                                    ‐                                    ‐                                    ‐ ‐                                    ‐                                    ‐                                    ‐                                    ‐
	
10.010 ‐ Fund Bal June 30 for Cert of App
	15,796,325
	17,439,469	19,641,272	21,258,209	22,383,534	23,100,183
	
Rev from Replacement/Renewal Levies 11.010 & 11.020 ‐ Renewal Levies 11.030 ‐ Cumulative Balance of Levies

‐
	
‐                                    ‐                                    ‐                                    ‐                                    ‐ ‐                                    ‐                                    ‐                                    ‐                                    ‐
	
12.010 ‐ Fund Bal June 30 for Cert of Obligations
	15,796,325
	17,439,469	19,641,272	21,258,209	22,383,534	23,100,183
	
Revenue from New Levies 13.010 & 13.020 ‐ New Levies
13.030 ‐ Cumulative Balance of New Levies

‐
	
‐                                    ‐                                    ‐                                    ‐                                    ‐ ‐                                    ‐                                    ‐                                    ‐                                    ‐
	
15.010 ‐ Unreserved Fund Balance June 30
	15,796,325
	17,439,469	19,641,272	21,258,209	22,383,534	23,100,183

22

Forecast5 Analytics ReportWriter Software 2019 ©

Indian Hill EVSD
									
2022
	2023
	TAX BUDGET

											
				2022
	Calendar Year
	TOTAL
	2023
	Calendar Year
	TOTAL
	TOTAL
	
General Fund Revenue Summary
	1/1/2022
	7/1/2022
	CALENDAR YEAR 2022
	1/1/2023
	7/1/2023
	CALENDAR YEAR 2023
	FISCAL YEAR 2022/2023
	
				6/30/2022
	12/31/2022
		6/30/2023
	12/31/2023
			
				(2)
	(3)
		(4)
	(5)
			
1100 Receipts from Property Taxes
								
	1110 General Property Tax
	15,735,773.00
	13,137,205.00
	28,872,978.00
	15,862,911.00
	13,243,348.00
	29,106,259.00
	29,000,116.00
	
	1122 Public Utility Personal Property Tax
	370,823.00
	371,675.00
	742,498.00
	371,674.00
	375,362.00
	747,036.00
	743,349.00
	
Total Taxes
			16,106,596.00
	13,508,880.00
	29,615,476.00
	16,234,585.00
	13,618,710.00
	29,853,295.00
	29,743,465.00
	
	3131-3133 Property Tax Allocation - RE
	1,612,769.00
	1,612,769.00
	3,225,538.00
	1,621,972.00
	1,621,972.00
	3,243,944.00
	3,234,741.00
	
	3135 State Tangible PP Reimbursement
	0.00
	0.00
	0.00
	0.00
	0.00
	0.00
	0.00
	
Total Tax Reimbursement from State Sources
	1,612,769.00
	1,612,769.00
	3,225,538.00
	1,621,972.00
	1,621,972.00
	3,243,944.00
	3,234,741.00

Receipts from Income Taxes & T.I.F.
								
	Income Tax
		0.00
	0.00
	0.00
	0.00
	0.00
	0.00
	0.00
	
	Tax Increment Financing Receipts
	2,350,000.00
	3,040,000.00
	5,390,000.00
	3,040,000.00
	3,050,000.00
	6,090,000.00
	6,080,000.00
	
Total Income Taxes & T.I.F. Revenue
	2,350,000.00
	3,040,000.00
	5,390,000.00
	3,040,000.00
	3,050,000.00
	6,090,000.00
	6,080,000.00

3000 Receipts from State Sources
								
	3190 Unrestricted Grants-In-Aid
	616,220.00
	674,370.00
	1,290,590.00
	674,370.00
	751,927.50
	1,426,297.50
	1,348,740.00
	
	3134 State Electric Dereg Reimbursement
	0.00
	0.00
	0.00
	0.00
	0.00
	0.00
	0.00
	
	Restricted Grants-In-Aid
	224,795.00
	0.00
	224,795.00
	220,022.00
	0.00
	220,022.00
	220,022.00
	
	Other State Sources
	0.00
	0.00
	0.00
	0.00
	0.00
	0.00
	0.00
	
Total State Resources
		841,015.00
	674,370.00
	1,515,385.00
	894,392.00
	751,927.50
	1,646,319.50
	1,568,762.00

Receipts from Local Sources
								
	All Other Revenue
		535,000.00
	613,442.00
	1,148,442.00
	613,442.00
	600,000.00
	1,213,442.00
	1,226,884.00

Receipts from Other Financing Sources
								
	Other Financing Sources
	22,500.00
	22,500.00
	45,000.00
	22,500.00
	22,500.00
	45,000.00
	45,000.00

Total Revenue and Other Funding Sources
	21,467,880.00
	19,471,961.00
	40,939,841.00
	22,426,891.00
	19,665,109.50
	42,092,000.50
	41,898,852.00

						Should balance to the total revenue/receipts from the five-year forecast.
	41,898,852.00

12/21/2021

Indian Hill EVSD
								
SCHEDULE OF PROJECTED REVENUE AND EXPENDITURES - For Debt Activity Funded by Taxes
						
BOND RETIREMENT FUND

								
	2022
	Calendar Year
	TOTAL
	2023
	Calendar Year
	TOTAL
	TOTAL
	
	1/1/2022
	7/1/2022
	CALENDAR YEAR 2022
	1/1/2023
	7/1/2023
	CALENDAR YEAR 2023
	FISCAL YEAR 2022/2023
	
BOND RETIREMENT REVENUE (1)
	6/30/2022
	12/31/2022
		6/30/2023
	12/31/2023
			
(1)
	(2)
	(3)
		(4)
	(5)
			
REVENUES
								
1000 Receipts from Local Sources
								
1100 Taxes
								
1110 General Property Tax & PUPP
	3,043,386.18
	2,755,028.63
	5,798,414.81
	3,073,820.05
	2,782,578.92
	5,856,398.96
	5,828,848.68
	
Total Taxes
	3,043,386.18
	2,755,028.63
	5,798,414.81
	3,073,820.05
	2,782,578.92
	5,856,398.96
	5,828,848.68

3131-3133 Property Tax Allocation
	104,158.26
	104,158.26
	208,316.53
	105,199.85
	105,199.85
	210,399.69
	209,358.11
	
3135 State Tangible Reimbursement
			0.00
			0.00
	0.00
	
Total Tax Reimbursement from State Sources
	104,158.26
	104,158.26
	208,316.53
	105,199.85
	105,199.85
	210,399.69
	209,358.11

1130 Income Tax
	0.00
	0.00
	0.00
	0.00
	0.00
	0.00
	0.00
	
1190 Other Receipts (Local Taxes)
	0.00
	0.00
	0.00
	0.00
	0.00
	0.00
	0.00
	
Total Income and Local Taxes
	0.00
	0.00
	0.00
	0.00
	0.00
	0.00
	0.00

Total Taxes
	3,147,544.45
	2,859,186.90
	6,006,731.34
	3,179,019.89
	2,887,778.76
	6,066,798.66
	6,038,206.79

1200-1800 Other Receipts-Local Sources
	0.00
	0.00
	0.00
	0.00
	0.00
	0.00
	0.00
	
1880 Tax Increment Financing
	0.00
	0.00
	0.00
	0.00
	0.00
	0.00
	0.00
	
1910 Prem. & Acc. Int. on Bonds & Notes
	0.00
	0.00
	0.00
	0.00
	0.00
	0.00
	0.00
	
1920 Sale of Bonds- Refunding
	0.00
	0.00
	0.00
	0.00
	0.00
	0.00
	0.00
	
1940 Proceeds from Sale of Notes
	0.00
	0.00
	0.00
	0.00
	0.00
	0.00
	0.00
	
Total of Other Revenue Sources
	0.00
	0.00
	0.00
	0.00
	0.00
	0.00
	0.00

Total Receipts from Local Sources
	3,147,544.45
	2,859,186.90
	6,006,731.34
	3,179,019.89
	2,887,778.76
	6,066,798.66
	6,038,206.79

2000 Receipts from Intermediate Sources
	0.00
	0.00
	0.00
	0.00
	0.00
	0.00
	0.00
	
3000 Receipts from State Sources
	0.00
	0.00
	0.00
	0.00
	0.00
	0.00
	0.00
	
3190 Other Unrestricted
	0.00
	0.00
	0.00
	0.00
	0.00
	0.00
	0.00
	
Total Revenue from State Sources
	0.00
	0.00
	0.00
	0.00
	0.00
	0.00
	0.00

4000 Revenue from Federal Sources
	0.00
	0.00
	0.00
	0.00
	0.00
	0.00
	0.00

5000 Other Revenue Sources
	0.00
	0.00
	0.00
	0.00
	0.00
	0.00
	0.00

Total Revenue
	3,147,544.45
	2,859,186.90
	6,006,731.34
	3,179,019.89
	2,887,778.76
	6,066,798.66
	6,038,206.79

12/21/2021

SCHEDULE OF PROJECTED REVENUE AND EXPENDITURES
								
BOND RETIREMENT FUND

	2022
	Calendar Year
	TOTAL
	2023
	Calendar Year
	TOTAL
	TOTAL
	
	1/1/2022
	7/1/2022
	CALENDAR YEAR 2022
	1/1/2023
	7/1/2023
	CALENDAR YEAR 2023
	FISCAL YEAR 2022/2023
	
BOND RETIREMENT EXPENDITURES (1)
	6/30/2022
	12/31/2022
		6/30/2023
	12/31/2023
			
(1)
	(2)
	(3)
		(4)
	(5)
			
EXPENDITURES

2000 Supporting Services - Fees
	15,000.00
	15,000.00
	30,000.00
	15,000.00
	15,000.00
	30,000.00
	30,000.00

6000 Repayment of Debt Service
								
6100 Repayment of Debt Principal
	0.00
	3,090,000.00
	3,090,000.00
		3,180,000.00
	3,180,000.00
	3,090,000.00
	
6100 Repayment of Debt Interest
	1,295,534.38
	1,295,534.38
	2,591,068.76
	1,251,609.38
	1,251,609.38
	2,503,218.76
	2,547,143.76
	
6100 Debt Issuance Costs
			0.00
			0.00
	0.00
	
Total Repayment of Debt Service
	1,295,534.38
	4,385,534.38
	5,681,068.76
	1,251,609.38
	4,431,609.38
	5,683,218.76
	5,637,143.76

7000 Other Debt Service
								
Other Debt Service
			0.00
			0.00
	0.00
	
			0.00
			0.00
	0.00
	
			0.00
			0.00
	0.00
	
Total Other Debt Service
	0.00
	0.00
	0.00
	0.00
	0.00
	0.00
	0.00

								
								
Total Expenditures
	1,310,534.38
	4,400,534.38
	5,711,068.76
	1,266,609.38
	4,446,609.38
	5,713,218.76
	5,667,143.76

								
Beginning Unencumbered Fund Balance
	2,601,438.73
	4,438,448.80
	2,601,438.73
	2,897,101.31
	4,809,511.83
	2,897,101.31
	4,438,448.80
	
Ending Cash Balance
	4,438,448.80
	2,897,101.31
	2,897,101.31
	4,809,511.83
	3,250,681.21
	3,250,681.21
	4,809,511.83

12/21/2021

Indian Hill EVSD

Schedule of Bond Payments

PURPOSE OF
BONDS AND NOTES
	
Authority
for Levy
Outside 10 Mill Limit*

Date
of Issue

Date Due

Serial
or Term

Rate
of Interest
	Principal and Interest Requirements
	Principal and Interest Requirements
	
						Fiscal Year
	Calendar Year
	
						Bonds and Notes Outstanding 7/1/2022
	Principal & Interest Due 7/1/2022
6/30/2023
	Amount Available from Other Sources 7/1/2022
6/30/2023
	Bonds and Notes Outstanding 1/1/2023
	Principal & Interest Due 1/1/2023
12/31/2023
	Amount Available from Other Sources 1/1/2023
12/31/2023

0

0
	
TOTAL INSIDE
						$0
	$0
	$0
	$0
	$0
	$0

2016 2021

6/1, 12/1 6/1, 12/1

9,720,000 71,450,000

1,728,813 3,908,331

8,290,000 69,790,000

1,743,088 3,940,131
		
OUTSIDE 10 MILL LIMIT

School Construction School Construction
	
By Vote November 2000 May 2021
											
TOTAL OUTSIDE
						$81,170,000
	$5,637,144
	$0
	$78,080,000
	$5,683,219
	$0

*If the levy is outside the 10 mill limit by vote, enter the words "by vote" and date of election. If outside the 10 mill limit without a vote, enter the reference to the statute under which the

levy is exempt from the 10 mill limit.

Principal & Interest from Bond Detail
	5,683,219