Tax Budget

Fiscal Year 2026

Presented for Approval: January 14, 2025

HAMILTON COUNTY, OHIO

Office of the Board of Education	Indian Hill Exempted Village School District - - Hamilton County	January 14 ,	2025

To the County Auditor:

The Board of Education of said School District, hereby submits its' annual budget for the year commencing July 1, 2025	for consideration of the County Budget Commission.

President of the Board

NOTE: Tax Budget Prepared Using Estimated 2024 Tax Rates and Preliminary Valuations, revenue estimates could change.

Indian Hill Exempted Village School District - - Hamilton County
							
2025
	2026
	TAX BUDGET
								
				FY2025
	1st Half FY2026
		2nd Half FY2026
	1st Half FY2027
		FY2026

				2025
	Calendar Year
	TOTAL
	2026
	Calendar Year
	TOTAL
	TOTAL
	
General Fund Revenue Summary
	1/1/2025
	7/1/2025
	CALENDAR YEAR 2025
	1/1/2026
	7/1/2026
	CALENDAR YEAR 2026
	FISCAL YEAR 2025/2026
	
	Does NOT Include Renewal Levy Proceeds
	6/30/2025
	12/31/2025
		6/30/2026
	12/31/2026
			
				(2)
	(3)
		(4)
	(5)
			
1100 Receipts from Property Taxes
								
	1110
	General Property Tax
	17,436,952
	14,862,815
	32,299,767
	17,397,714
	14,965,323
	32,363,037
	32,260,529
	
	1120
	Public Utility Personal Property Tax
	518,685
	347,952
	866,637
	513,814
	352,054
	865,868
	861,766
	
Total Taxes
			17,955,637
	15,210,767
	33,166,404
	17,911,528
	15,317,376
	33,228,905
	33,122,295
	
	3130
	3131-3133 Property Tax Allocation - R
	1,799,465
	1,799,152
	3,598,616
	1,815,052
	1,815,053
	3,630,105
	3,614,204
	
	3135
	State Tangible PP Reimbursement
	0
	0
	0
	0
	0
	0
	0
	
Total Tax Reimbursement from State Sources
	1,799,465
	1,799,152
	3,598,616
	1,815,052
	1,815,053
	3,630,105
	3,614,204

Receipts from Income Taxes & T.I.F.
								
	1130
	Income Tax
	0
	0
	0
	0
	0
	0
	0
	
	1880
	Tax Increment Financing Receipts
	0
	0
	0
	0
	0
	0
	0
	
Total Income Taxes & T.I.F. Revenue
	0
	0
	0
	0
	0
	0
	0

3000 Receipts from State Sources
								
	3110
	Unrestricted Grants-In-Aid
	1,071,557
	1,254,792
	2,326,349
	1,254,792
	1,422,202
	2,676,993
	2,509,583
	
	3134
	State Electric Dereg Reimbursement
	0
	0
	0
	0
	0
	0
	0
	
	3200
	Restricted Grants-In-Aid
	354,660
	360,004
	714,664
	360,004
	364,411
	724,415
	720,008
	
	3190
	Other State Sources
	94,694
	110,886
	205,580
	110,886
	125,680
	236,567
	221,773
	
Total State Resources
		1,520,911
	1,725,682
	3,246,593
	1,725,682
	1,912,293
	3,637,975
	3,451,364

Receipts from Local Sources
								
	Other
	All Other Revenue
	3,649,385
	3,666,221
	7,315,606
	3,666,221
	3,634,246
	7,300,467
	7,332,441

Receipts from Other Financing Sources
								
	Non-Op
	Other Financing Sources
	218,000
	17,500
	235,500
	17,500
	17,500
	35,000
	35,000

Total Revenue and Other Funding Sources
	25,143,397
	22,419,321
	47,562,718
	25,135,983
	22,696,468
	47,832,451
	47,555,304

						Should balance to the total revenue/receipts from the five-year forecast.
	47,555,304

12/23/2024

Indian Hill Exempted Village School District

02
2Fiscal Year 5 November

Five Year Forecast Report

Prepared By: Mick Davis CFO/Treasurer
Indian Hill Exempted Village School District

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Indian Hill Exempted Village School District

Table of Contents

Forecast Summary	3

Forecast Analysis	4

Revenue Overview	5 1.010 ‐ General Property Tax (Real Estate)	6 1.020 ‐ Public Utility Personal Property	7 1.030 ‐ Income Tax	8 1.035 ‐ Unrestricted Grants‐in‐Aid	9 1.040 & 1.045 ‐ Restricted Grants‐in‐Aid                                                                                                                            10 1.050 ‐ State Share‐Local Property Taxes                                                                                                                           11 1.060 ‐ All Other Operating Revenues                                                                                                                                 12 2.070 ‐ Total Other Financing Sources                                                                                                                                13

Expenditures Overview	14 3.010 ‐ Personnel Services	15 3.020 ‐ Employee Benefits	16 3.030 ‐ Purchased Services	17 3.040 ‐ Supplies and Materials	18 3.050 ‐ Capital Outlay	19 3.060 ‐ 4.060 ‐ Intergovernmental & Debt	20 4.300 ‐ Other Objects	21 5.040 ‐ Total Other Financing Uses	22

Five Year Forecast	23

Appendix
Financial Health Indicators                                                                                                                                                     24 Current to Prior Forecast Compare                                                                                                                                      25

Forecast Purpose/Objectives

Ohio Department of Education and Workforce'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

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0

$60,000,000

Forecast Summary	Indian Hill Exempted Village School District

Projected Revenue, Expenditures, and Cash Balance

$50,000,000

$40,000,000

$30,000,000

$20,000,000

$10,000,000	$7,538,792

$0

2024	2025	2026	2027	2028	2029

Revenue	Expenditures	Cash Balance

Financial Forecast Summary

Financial Forecast Summary

	Fiscal Year                 Fiscal Year                 Fiscal Year 2025                          2026                          2027
	Fiscal Year                 Fiscal Year 2028                          2029

Beginning Balance (Line 7.010)
+ Renewal/New Levies Modeled
	
14,841,835	14,926,517	13,710,858
	
12,380,636	10,289,366
	
+ Revenue
‐ Expenditures
	47,562,980               47,555,304               48,662,063 (47,478,298)            (48,770,963)            (49,992,285)
	49,381,105               49,637,813 (51,472,374)            (52,388,388)

= Revenue Surplus or Deficit
	
84,682	(1,215,659)	(1,330,222)
	
(2,091,269)	(2,750,575)
	
Line 7.020 Ending Balance with Renewal/New Levies
	14,926,517	13,710,858	12,380,636
	10,289,366	7,538,792

Financial Summary Notes
Financial Summary Notes

Expenditure growth is projected to outpace revenue change. By the end of 2029, the cash balance is projected to decline by a total of $7,303,043 compared to 2024. For fiscal year 2029, expenditures are currently projected to exceed revenue, resulting in a revenue shortfall the final year of the forecast period.

For revenue, projected change is expected to be less than the historical average. Over the past five years, revenue increased by 6.59% ($2,413,258 annually). However, it is projected to increase by 1.98% ($919,242 annually) through fiscal year 2029. Notably, Real Estate, is expected to be $1,295,567 less per year compared to history, and is the biggest driver of trend change on the revenue side.

For expenditures, projected change is expected to be at a slower pace than the historical trend. Expenditures increased by 5.49% ($1,998,136 annually) during the past 5‐year period, and are projected to increase by 2.65% ($1,224,736 annually) through 2029. The forecast line with the most change on the expense side, Purchased Services, is anticpated to be $581,806 less per year in the projected period compared to historical averages.

It is assumed the District would not renew the current levy based on reaching the 20‐mill floor for type I valuation. Type II would not reach the 20‐mill floor based on the current estimates but would not yield enough revenue to require a renewal of the current levy.

Disclosure Items:
	2025	2026	2027	2028	2029
	
Modeled Renewal Levies ‐ Annual Amount Modeled New Levies ‐ Annual Amount
Encumbrances (not subtracted from Cash Balance)
	‐	‐	70,389	146,990	155,680 ‐	‐                                      ‐                                      ‐                                      ‐
500,000	500,000	500,000	500,000	500,000
	
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projected to change by 1.98%
are projected to cha	52%
Su
Revenue
Revenue
Forecast Analysis	Indian Hill Exempted Village School District Revenue Compared to Expenditures

$54

$52

$50

Millions $$$
$48

$46

$44

$42

$40
2024	2025

2026

Total Revenue W/Renewals

2027	2028	2029

Total Expenditures

70%
From 2025 to 2029, total revenues are 16%	projected to change by 1.98%
14%

Expenditure change is expected to outpace nge by 2.From 2025 to 2029, total expenses are revenue change.	projected to change by 2.52%

Revenue Surplus/(Shortfall) as a Percentage of Revenue

> 10% Revenue Surplus/(Shortfall) as a Percentage of Revenue	Surplus

Current Forecast              2022                 2023 Surplus/(Shortfall)                 1.%                   ‐.3%

2024                  2025 ‐2.7%                   .2%

2026	2027 ‐2.6%                  ‐2.7%

2028	2029 ‐4.2%                 ‐5.5%

Shortfall > 2% ofrplus

Shortfall > 8% of Revenue
Reve
Shortfall > 2% of Shortfall >15% ofnue

Shortfall > 8% of Revenue

Shortfall >15% of Revenue

The district is trending toward revenue shortfall with the expenditures growing faster than revenue.

A revenue increase of 5.54% is needed to balance the budget in fiscal year 2029, or a $2,750,575 reduction in expenditures. ‐ The largest contributor to the projected revenue trend is the change in Real Estate.
‐ The expenditure most impacting the changing trend is Purchased Services.

Days Cash on Hand at Fiscal Year‐end	Days Cash on Hand at Fiscal Year‐end

117	115

2024	2025

103
90

2026	2027

73

53

2028	2029

*based on 365 days

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Revenue Overview	Indian Hill Exempted Village School District

16%

Revenue Sources

Local Taxes
Real Estate Tax	67.98% Public Utility Tax                                  1.83% Income Tax                                           0.00%

14%

70%

State Sources
State Funding	4.90% Restricted Aid	1.49% State Share of Local Tax	7.53%

All Other Revenue
Other Revenue                                  15.35% Other Sources                                      0.92%

Annual Revenue Actual + Projected

$70,389	$146,990	$155,680

$37,621,355
$36,900,503
$40,055,717
$43,970,253
$45,041,603
$47,562,980
$47,555,304
$48,591,674
$49,234,115
$49,482,133
2020	2021	2022	2023	2024	2025	2026	2027	2028	2029

Renewal Levy Revenue

Historic Revenue Change versus Projected Revenue Change

	Historical Average Annual
$$ Change
	Projected Average Annual
$$ Change
	Projected Compared to Historical Variance
	Over the past five years, revenue increased by 6.59% ($2,413,258 annually). However, it is projected to increase by 1.98% ($919,242 annually) through fiscal year 2029. Notably, Real Estate, is expected to be $1,295,567 less per year compared to history, and is the biggest driver of trend change on the revenue side.
	
Real Estate	$1,849,463	$553,896	($1,295,567) Public Utility                                                         $67,317                $16,386                 ($50,931) Income Tax                                                                     $0                          $0                              $0 State Funding                                                    $201,293	$290,685                    $89,392 State Share of Property Tax                               $68,025                $75,833                      $7,808 All Othr Op Rev                                                 $271,943                 ($5,544)              ($277,487) Other Sources                                                    ($44,783)              ($12,014)                  $32,768
		
Total Average Annual Change                        $2,413,258              $919,242            ($1,494,016) 6.59%                    1.98%                     ‐4.61%

For Comparison: Expenditure average annual change is projected to be >

$1,224,736 On an annual average basis, expenditures are projected to grow faster than revenue.

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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).

Real estate property tax revenue accounts for 67.98% of total district general fund revenue.

67.98%

$45,728	$96,217	$102,668

$24,634,247
$25,327,151
$27,509,471
$29,547,488
$30,957,686
$32,333,288
$32,260,529
$32,900,267
$33,441,411
$33,624,500
2020	2021	2022	2023	2024	2025	2026	2027	2028	2029

Renewal Levy Revenue

Key Assumptions & Notes

Values, Tax Rates and Gross Collections
Tax Yr	Valuation	Value Change 2023              1,789,816,140           410,970,630 2024              1,797,044,380               7,228,240 2025              1,810,869,380             13,825,000 2026              1,879,219,380             68,350,000 2027              1,886,094,380               6,875,000 2028              1,894,844,380               8,750,000

Class I Rate 20.00 20.05 20.07 20.00 20.05 20.06

Change	Class 2 Rate	Change
‐	20.94	‐ 0.05	21.11                         0.18 0.01	21.13                         0.02
(0.07)                      20.64                        (0.49) 0.05                       20.69                         0.05 0.01                       20.71                         0.02

Gross Collection Rate Including Delinquencies 100.7% 98.5% 98.5% 98.5% 98.5% 98.5%

Class I, or residential/agricultural taxes make up approximately 89.96% of the real estate property tax revenue. The Class I tax rate is 20.05 mills in tax year 2024. The district is modeling the renewal of real estate property taxes levies through 2024. The projections reflect an average gross collection rate of 98.5% annually through tax year 2028. The revenue changed at an average annual historical rate of 7.42% and is projected to change at an average annual rate of 1.74% through fiscal year 2029.

If the current 20‐mill floor remains in place through the District's next revauluation, the District's Type I real estate would increase in relation to the valuation increase. The current assumption is an increase of approximately 3%. This figure is a much lower projection than the last revaluation when the District received a 30% increase. However, it is more in line with historical values.

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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.

1.83%	Public Utility Personal Property tax revenue accounts for 1.83% of total district general fund revenue.

$24,662	$50,246	$51,783

$602,605
$567,545
$796,949
$802,537
$875,284
$869,935
$861,766
$871,140
$879,591
$905,432
2020	2021	2022	2023	2024	2025	2026	2027	2028	2029

Renewal Levy Revenue

Key Assumptions & Notes

Values and Tax Rates
Tax Year	Valuation 2023                   20,050,000 2024                   18,550,000 2025                   19,300,000 2026                   20,050,000 2027                   20,800,000 2028                   21,300,000

Value Change	Full Voted Rate	Change 2,269,660                       45.38                           ‐
(1,500,000)	45.38	‐ 750,000	45.38	‐ 750,000	45.38	‐ 750,000	45.38	‐ 500,000	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. The property is taxed at the full voted tax rate which in tax year 2024 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 $67,317 and is projected to change at an average annual dollar amount of $16,386 through fiscal year 2029.

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Indian Hill Exempted Village School District

1.030 ‐ School District 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.

0.00%

The district does not have a School District Income Tax levy.

$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
2020	2021	2022	2023	2024	2025	2026	2027	2028	2029

Renewal Levy Revenue

Key Assumptions & Notes

The district does not have an income tax levy.

Estimates project that a 0.25% alternative base or earned income tax would yield approximately $4.1 million annually.

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Indian Hill Exempted Village School District

1.035 ‐ Unrestricted Grants‐in‐Aid

Funds received through the State Foundation Program with no restriction.

4.90%	 Unrestricted State Aid revenue accounts for 4.90% of total district general fund revenue.

$1,399,482
$1,381,519
$1,266,932
$1,334,754
$2,016,991
$2,332,502
$2,731,356
$3,095,764
$3,224,890
$3,302,883
2020	2021	2022	2023	2024	2025	2026	2027	2028	2029

Key Assumptions & Notes

2,102
2,067
2,031
2,100
2,127
2,125
2,137
2,146
2,154
2,177

District Educated Enrollment 2,500

2,000
	Beginning in fiscal year 2022, Ohio adopted the Fair School Funding Plan (FSFP). Funding is driven by a base cost methodology that incorporates the four components identified as necessary to the education process. The Base Cost is currently calculated for two years using a statewide average from historical actual data.

For Indian Hill Exempted Village School District, the calculated Base Cost total is $17,117,037 in 2025.
The State's Share of the calculated Base Cost total is $1,710,114, or $805 per pupil.
The FSFP also started funding students where they attended school. Therefore district educated enrollment is now used for per pupil funding. At the same time, the FSFP eliminated tuition transfer payments from school districts, which impacts the expense side of the forecast.

District enrollment is projected to grow over the next five years. The forecast calls for a modest annual increase.

1,500

1,000

500
		
0
2020       2021       2022       2023       2024       2025       2026       2027       2028       2029

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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.

1.49%	 Restricted State Aid revenue accounts for 1.49% of total district general fund revenue.

$134,553
$144,557
$279,267
$359,546
$567,783
$709,320
$720,008
$728,822
$733,323
$735,315
2020	2021	2022	2023	2024	2025	2026	2027	2028	2029

Key Assumptions & Notes

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 $141,075 and is projected to change annually on average by $33,506. Restricted funds represent 1.49% of the district's total revenue. Starting in fiscal year 2022, the district's Success & Wellness funding became restricted; the state's share of this funding recorded as restricted is $63,224. 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.

This is a key growth area of the forecast. The threshold (formerly known as catastropic) cost program for use by traditional school districts, community schools and JVSD’s to receive reimbursement for costs exceeding the state‐determined threshold to educate preK‐12 students, including any student in Grade 23 (students who have deferred their diploma), with disabilities in Categories 2‐6. This reimbursement is available to the financially responsible district or school for any child in disability categories 2,3,4, or 5 whose educational and related expenses exceeded $27,375, and any child in category 6 whose expenses exceeded $32,850 in the prior fiscal year. The increase for Indian Hill EVSD is twofold. First, there has been an increase to the amount of funds put into the program by the State. Second, the number of students at Indian Hill meeting the criteria has increased.

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Indian Hill Exempted Village School District

1.050 ‐ State Share of Local Property Taxes

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

7.53%	 State Share of Local Property tax revenue accounts for 7.53% of total district general fund revenue.

$528	$1,228

$3,062,553
$3,147,629
$3,210,180
$3,239,088
$3,409,441
$3,583,165
$3,614,204
$3,692,189
$3,765,617
$3,787,378
2020	2021	2022	2023	2024	2025	2026	2027	2028	2029

Renewal Levy Revenue

Key Assumptions & Notes

State Share of Local Property Taxes primarily consists of reimbursements from the state of Ohio for local taxpayer credits or reductions to their tax bill. 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 fiscal year 2025, approximately 10.6% local residential property taxes will be reimbursed by the state in the form of rollback credits and approximately 0.3% will be reimbursed in the form of qualifying homestead exemption credits.

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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.

15.35%	 All Other Revenue accounts for 15.35% of total district general fund revenue.

$7,692,335
$6,288,987
$6,970,868
$7,471,247
$7,119,347
$7,298,770
$7,332,441
$7,268,492
$7,154,283
$7,091,625
2020	2021	2022	2023	2024	2025	2026	2027	2028	2029

Key Assumptions & Notes

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 $271,943. The projected average annual change is ‐$5,544 through fiscal year 2029.

The key component of this category is the District's collection of a Tax Increment Financing (TIF) program for several properties in the Kenwood area. This program is monitored by Sycamore Township and the agreement holds the school districts involved harmless. Payments of the taxes that would be generated through traditional tax levying are collected by Sycamore Township and paid directly to the District. This is a bi‐annual payment coinciding with payments of traditional property taxes.

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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.

0.92%	 Other Sources of revenue accounts for 0.92% of total district general fund revenue.

$95,581
$43,114
$22,050
$1,215,595
$95,071
$436,000
$35,000
$35,000
$35,000
$35,000
2020	2021	2022	2023	2024	2025	2026	2027	2028	2029

Key Assumptions & Notes

	FORECASTED
	
	2024
	2025
	2026
	2027
	2028
	2029
	
Transfers In
	‐
	‐
	‐
	‐
	‐
	‐
	
Advances In
	51,817
	30,000
	30,000
	30,000
	30,000
	30,000
	
All Other Financing Sources
	43,254
	406,000
	5,000
	5,000
	5,000
	5,000

Other sources includes revenue that is generally classified as non‐operating. Return advances‐in are the most common revenue source. In 2024 the district receipted $51,817 as advances‐in and is projecting advances of $30,000 in fiscal year 2025. 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 $406,000 in 2025 and average $5,000 annually through 2029.

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Expenditure Overview	Indian Hill Exempted Village School District

Expenditure Categories

10%

15%

75%

Personnel Costs
Salaries                                                                           55.64% Benefits                                                                          19.18%

Purchased Services	14.99%

All Other Expenditures
Supplies, Capital, Debt, Other Obj                              9.47% Other Uses                                                                       0.72%

Annual Expenditures Actual + Projected

$41,413,227
$35,884,047
$39,666,086
$44,091,269
$46,264,709
$47,478,298
$48,770,963
$49,992,285
$51,472,374
$52,388,388
2020	2021	2022	2023	2024	2025	2026	2027	2028	2029

Historic Expenditures Change versus Projected Expenditures Change

	Historical Average Annual
$$ Change
	Projected Average Annual
$$ Change
	Projected Compared to Historical Variance
	Expenditures increased by 5.49% ($1,998,136 annually) during the past 5‐year period, and are projected to increase by 2.65% ($1,224,736 annually) through 2029. The forecast line with the most change on the expense side, Purchased Services, is anticpated to be $581,806 less per year in the projected period compared to historical averages.
	
Salaries	$845,329	$854,526	$9,198 Benefits	$233,477	$469,642                 $236,165 Purchased Services	$551,767               ($30,040)             ($581,806) Supplies & Materials	$133,542                $16,311              ($117,231) Capital Outlay                                                       ($48,881)           ($103,318)               ($54,438) Intergov & Debt	$203,765                  $6,897              ($196,867) Other Objects                                                        $26,630                $11,707                ($14,923) Other Uses                                                             $52,508                    ($990)               ($53,498)
		
Total Average Annual Change                           $1,998,136           $1,224,736              ($773,400) 5.49%                    2.52%                    ‐2.97%

For Comparison: Revenue average annual change is projected to be >

$919,242 On an annual average basis, revenues are projected to grow slower than expenditures.

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Indian Hill Exempted Village School District

3.010 ‐ Personnel Services

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

55.64%             Salaries account for 55.64% of the district's total general fund spending.

$21,667,178
$21,565,695
$22,135,319
$24,386,913
$25,074,379
$26,418,730
$26,975,510
$28,043,891
$28,964,403
$29,347,011
2020	2021	2022	2023	2024	2025	2026	2027	2028	2029

Key Assumptions & Notes

Salaries represent 55.64% of total expenditures and increased at a historical average annual rate of 3.82% (or $845,329). This category of expenditure is projected to grow at an annual average rate of 3.21% (or $854,526) through fiscal year 2029. The projected average annual rate of change is 0.61% less than the five year historical annual average.

The Indian Hill Educators Professional Organization and the District negotiated a three year extension to the Collective Bargaining Agreement that will last through June of 2028. The agreement includes an annual increase of the base salary. This increase gives Indian Hill the ability to be professionally competive within the education industry, allowing the District to recruit and retain the top educators. With the completed CBA, it removes many of the assumptions of this expense category for the next four years.
Noted Assumptions: Two teacher retirements per year replaced with a Master Column Step Four; No new positions;

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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.

19.18%	 Benefits account for 19.18% of the district's total general fund spending.

$7,453,139
$6,819,714
$7,599,775
$8,026,066
$8,562,333
$9,108,533
$9,617,624
$10,064,708
$10,528,440
$10,910,542
2020	2021	2022	2023	2024	2025	2026	2027	2028	2029

Key Assumptions & Notes

Benefits represent 19.18% of total expenditures and increased at a historical average annual rate of 3.20%. This category of expenditure is projected to grow at an annual average rate of 4.97% through fiscal year 2029. The projected average annual rate of change is 1.77% more than the five year historical annual average.

In addition to the effects that the Collective Bargaining Agreement had on the Personnel expenditure, the CBA affected the Benefits expenditure category. Retirement contributions compose a significant percentage of this category and those expenses rose with the increase to base salaries. The District committed to increase Health Savings Account contributions for the first time since High Deductible Health Plans were instituted uniformly to all employees. Medical Insurance continues to the highest expense in this category. Renewals have historically been below market average. The assumption for this forecast that the renewals will be between 7‐8% annually.

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Indian Hill Exempted Village School District

3.030 ‐ Purchased Services

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

14.99%	 Purchased Services account for 14.99% of the district's total general fund spending.

$4,398,282
$4,878,255
$5,591,673
$6,726,430
$7,540,029
$7,116,608
$7,196,376
$7,300,759
$7,316,663
$7,389,830
2020	2021	2022	2023	2024	2025	2026	2027	2028	2029

Key Assumptions & Notes

Purchased Services represent 14.99% of total expenditures and increased at a historical average annual rate of 9.98%. This category of expenditure is projected to decrease at an annual average rate of 0.37% through fiscal year 2029. Starting in 2022, the Fair School Funding Plan (State Funding) only accounted for district educated enrollment, thereby reducing district tuition costs for open enrollment 'out,' community schools, STEM, and scholarship students. This change resulted in lower district costs, but also less per pupil state revenue since per pupil funding is now paid directly by the state to the district students attend.

This expenditure category is very broad in the type of expenses that it represents. Included within this category is student services, outside tuition, professional development, legal fees, communication, consulting fees, substitutes, guest speakers, architectural fees, custodial services, and utilities. Many of these expenses have risen significantly over the last three years from inflation and increased utilization. In 2025, the category should see a decrease in expenditure because there should be no need for architectural services as the District should not need any planning for facilites. There should also be a decrease in legal fees because the District's large construction project has concluded.

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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.

4.21%
Supplies and Materials account for 4.21%

of the district's total general fund spending.

$1,286,874
$1,457,837
$1,459,815
$1,834,178
$1,990,925
$2,001,043
$2,020,201
$2,031,645
$2,051,962
$2,072,482
2020	2021	2022	2023	2024	2025	2026	2027	2028	2029

Key Assumptions & Notes

Supplies & Materials represent 4.21% of total expenditures and increased at a historical average annual rate of 8.97%. This category of expenditure is projected to grow at an annual average rate of 0.81% through fiscal year 2029. The projected average annual rate of change is 8.17% less than the five year historical annual average.

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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.

1.81%
Capital Outlay account for 1.81% of the

district's total general fund spending.

$6,107,228
$678,248
$788,150
$1,436,637
$1,180,031
$860,000
$981,395
$563,439
$613,439
$663,439
2020	2021	2022	2023	2024	2025	2026	2027	2028	2029

Key Assumptions & Notes

Capital Outlay represent 1.81% of total expenditures and decreased at a historical average annual amount of $48,881. This category of expenditure is projected to decrease at an annual average rate of $103,318 through 2029. The projected average annual change is less than the five year historical annual average.

This category includes the purchase of two buses per year, small facilities projects, as well as an estimated $600,000 for a roof replacement split between fiscal year 2025 and 2026.

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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.

2.23%	 Intergovernmental and Debt account for 2.23% of the district's total general fund spending.

$0
$29,175
$339,096
$563,365
$1,018,822
$1,056,404
$1,052,777
$1,053,600
$1,053,776
$1,053,308
2020	2021	2022	2023	2024	2025	2026	2027	2028	2029

Key Assumptions & Notes

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

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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.

1.22%
Other Objects account for 1.22% of the

district's total general fund spending.

$480,976
$436,519
$538,213
$512,611
$553,242
$576,980
$587,080
$594,242
$603,691
$611,777
2020	2021	2022	2023	2024	2025	2026	2027	2028	2029

Key Assumptions & Notes

Other Objects represent 1.22% of total expenditures and increased at a historical average annual rate of 6.34%. This category of expenditure is projected to grow at an annual average rate of 2.04% through fiscal year 2029. The projected average annual rate of change is 4.31% less than the five year historical annual average.

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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.

0.72%

Other Uses account for 0.72% of the district's total general fund spending.

$19,549
$18,605
$1,214,045
$605,070
$344,949
$340,000
$340,000
$340,000
$340,000
$340,000
2020	2021	2022	2023	2024	2025	2026	2027	2028	2029

Key Assumptions & Notes

	FORECASTED
	
	2024
	2025
	2026
	2027
	2028
	2029
	
Transfers Out
	310,000
	310,000
	310,000
	310,000
	310,000
	310,000
	
Advances Out
	34,949
	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 2024 the district had advances‐out and has advances‐out forecasted through fiscal year 2029. The district can also move general funds permanently to other funds, and as the schedule above presents, the district has transfers forecasted through fiscal year 2029. 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.

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Indian Hill Exempted Village School District Five Year Forecast November Fiscal Year

Fiscal Year:
	Actual
	FORECASTED
	
	2024
	2025	2026	2027	2028	2029
	
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 ‐ State Share‐Local Property Taxes 1.060 ‐ All Other Operating Revenues
	
30,957,686 875,284
‐ 2,016,991
567,783 3,409,441 7,119,347
	
32,333,288                32,260,529                32,900,267                33,441,411                33,624,500 869,935                     861,766                     871,140                     879,591                     905,432
‐	‐	‐	‐	‐ 2,332,502                  2,731,356                  3,095,764                  3,224,890                  3,302,883
709,320	720,008	728,822	733,323	735,315 3,583,165                  3,614,204                  3,692,189                  3,765,617                  3,787,378 7,298,770                  7,332,441                  7,268,492                  7,154,283                  7,091,625
	
1.070 ‐ Total Revenue
	44,946,532
	47,126,980	47,520,304	48,556,674	49,199,115	49,447,133
	
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
	
‐ ‐ ‐
51,817 43,254
	
‐	‐	‐	‐	‐ ‐	‐	‐	‐	‐ ‐	‐	‐	‐	‐
30,000                        30,000                        30,000                        30,000                        30,000 406,000                          5,000                          5,000                          5,000                          5,000
	
	95,071
	436,000	35,000	35,000	35,000	35,000
	
2.080 ‐ Total Rev & Other Sources
	45,041,603
	47,562,980	47,555,304	48,591,674	49,234,115	49,482,133
	
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
	
25,074,379 8,562,333 7,540,029 1,990,925 1,180,031 1,018,822
553,242
	
26,418,730                26,975,510                28,043,891                28,964,403                29,347,011 9,108,533                  9,617,624                10,064,708                10,528,440                10,910,542 7,116,608                  7,196,376                  7,300,759                  7,316,663                  7,389,830 2,001,043                  2,020,201                  2,031,645                  2,051,962                  2,072,482 860,000                     981,395                     563,439                     613,439                     663,439 1,056,404                  1,052,777                  1,053,600                  1,053,776                  1,053,308
576,980	587,080	594,242	603,691	611,777
	
4.500 ‐ Total Expenditures
	45,919,760
	47,138,298	48,430,963	49,652,285	51,132,374	52,048,388
	
Other Financing Uses
5.010 ‐ Operating Transfers‐Out 5.020 ‐ Advances‐Out
5.030 ‐ All Other Financing Uses 5.040 ‐ Total Other Financing Uses
	
310,000 34,949
‐
	
310,000                     310,000                     310,000                     310,000                     310,000 30,000                        30,000                        30,000                        30,000                        30,000
‐	‐	‐	‐	‐
	
	344,949
	340,000	340,000	340,000	340,000	340,000
	
5.050 ‐ Total Exp and Other Financing Uses
	46,264,709
	47,478,298	48,770,963	49,992,285	51,472,374	52,388,388

6.010 ‐ Excess of Rev Over/(Under) Exp
	(1,223,106)
	84,682	(1,215,659)	(1,400,611)	(2,238,259)	(2,906,255)

7.010 ‐ Cash Balance July 1 (No Levies)
	16,064,941
	14,841,835	14,926,517	13,710,858	12,310,247	10,071,987
	
7.020 ‐ Cash Balance June 30 (No Levies)
	14,841,835
	14,926,517	13,710,858	12,310,247	10,071,987	7,165,733

	Reservations
		
8.010 ‐ Estimated Encumbrances June 30 9.080 ‐ Reservations Subtotal
	500,000 ‐
	500,000	500,000	500,000	500,000	500,000 ‐                                   ‐                                   ‐                                   ‐                                   ‐
	
10.010 ‐ Fund Bal June 30 for Cert of App
	14,341,835
	14,426,517	13,210,858	11,810,247	9,571,987	6,665,733
	
Rev from Replacement/Renewal Levies 11.010 & 11.020 ‐ Renewal Levies 11.030 ‐ Cumulative Balance of Levies

‐
	
‐                                   ‐                            70,389                     146,990                     155,680 ‐                                   ‐                            70,389                     217,379                     373,059
	
12.010 ‐ Fund Bal June 30 for Cert of Obligations
	14,341,835
	14,426,517	13,210,858	11,880,636	9,789,366	7,038,792
	
Revenue from New Levies 13.010 & 13.020 ‐ New Levies
13.030 ‐ Cumulative Balance of New Levies

‐
	
‐                                   ‐                                   ‐                                   ‐                                   ‐ ‐                                   ‐                                   ‐                                   ‐                                   ‐
	
15.010 ‐ Unreserved Fund Balance June 30
	14,341,835
	14,426,517	13,210,858	11,880,636	9,789,366	7,038,792

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Su
Revenue
Financial Health Indicators	Indian Hill Exempted Village School District

Revenue Surplus/(Shortfall) ‐ Current Forecast

Revenue Surplus/(Shortfall) as a % of Revenue

Revenue Surplus/(Shortfall)

Revenue Surplus/(Shortfall) ‐ Current Forecast

> 10% Surplus

Shortfall >2% of rplus

Shortfall >8% of
venue
Re Shortfall > 2% of Revenue

Shortfal >
Shortfall >15%lof8% of Revenue

Current Forecast             2022                 2023 Surplus/(Shortfall)               1.%                   ‐.3%

2024                  2025 ‐2.7%                   .2%

2026	2027 ‐2.6%                  ‐2.7%

2028	2029 ‐4.2%                 ‐5.5%

The district is trending toward revenue shortfall with the expenditures growing faster than revenue.

A revenue increase of 5.54% is needed to balance the budget in fiscal year 2029, or a $2,750,575 reduction in expenditures. ‐ The largest contributor to the projected revenue trend is the change in Real Estate.
‐ The expenditure most impacting the changing trend is Purchased Services.

Days Cash on Hand ‐ Current Forecast

117	115
103
90

73

Days Cash on Hand ‐ Current Forecast	53

Days cash on hand is projected to decline and is less than 60 days by 2029.

2024	2025	2026	2027	2028	2029	*based on 365 days

5‐Year Average Annual Change ‐ Inflation, Revenue and Expenditures

Historical Annual Change
	Projected Annual Change

		

		
		
5.67%	6.59%	5.49%
	2.30%	1.98%	2.52%

Average projected annual expenditure change is greater than inflation, and more than revenue.

Inflation	Revenue	Expenditures

CPI (Inflation) Source: Federal Reserve Bank of St. Louis (September 23, 2024) https://alfred.stlouisfed.org
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130
135
115
Current to Prior Forecast Comparison	Indian Hill Exempted Village School District

s/(Shortfall) ‐ Current Compared to Prior Forecast
Revenue SurpluRevenue Surplus/(Shortfall) ‐ Current Compared to Prior Forecast

Surplus

The district's current forecast is trending toward revenue shortfall.

Shortfall >2% of Revenue

Shortfall >8% of Revenue

Shortfall >15% of

2022 Prior Forecast	1.0%
Current Forecast	1.0%

2023                   2024 ‐0.3%                  ‐1.6%
‐0.3%	‐2.7%

2025                   2026                   2027                   2028 0.6%                    1.8%                    1.9%                    1.2%
0.2%	‐2.6%	‐2.7%	‐4.2%

Note: 2029 not included in prior forecast

Days Cash on Hand ‐ Current Compared to Prior Forecast

122	117	124

Days Cash on Hand ‐ Current Compared to Prior Forecast

103	90

137

73

Days cash on hand is forecasted to decrease, which is a variance in trend compared to the prior forecast.

2024	2025	2026	2027	2028

Days Cash on Hand Prior Forecast	Days Cash on Hand Current Forecast	*based on 365 days

Revenue and Expenditure Variances ‐ Current Compared to Prior Forecast

Cumulative Favorable Revenue Variance

1.01 Real Estate 1.035,1.040 State
1.060 All Other 2.xx Other Sources All Other Revenue Categories

Revenue Variance
1.54%	$3,614,977 Largest Revenue Variances
0.91%	$2,123,384 0.53%	$1,232,230 0.11%                            $262,503 0.00%                               ($3,140)

The current revenue forecast is up by 1.54% compared to the prior forecast.

NET cumulative forecast impact for the forecast period 2024 ‐ 2028 of Revenue and Expense variances is ‐3.30% (or ‐$7,644,298).

The current forecast for expenditures is up by 4.84% compared to the prior forecast.

Expenditure Variance
4.84%	$11,259,274 Cumulative Unfavorable Expenditure Variance Largest Expenditure Variances

2.00%	$4,665,407 3.01 Salaries
1.70%	$3,956,134 3.03 Purchased Serv. 0.46%	$1,062,147 3.02 Benefits
0.68%	$1,575,586 All Other Expenditure Categories

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Indian Hill Exempted Village School District - - Hamilton County
							
SCHEDULE OF PROJECTED REVENUE AND EXPENDITURES - For Debt Activity Funded by Taxes
						
BOND RETIREMENT FUND - COMBINED ALL BONDS
								
2025
	2026
	TAX BUDGET

			2025
	Calendar Year
	TOTAL
	2026
	Calendar Year
	TOTAL
	TOTAL
	
Fund
	002
		1/1/2025
	7/1/2025
	CALENDAR YEAR 2025
	1/1/2026
	7/1/2026
	CALENDAR YEAR 2026
	FISCAL YEAR 2025/2026
	
BOND RETIREMENT REVENUE (1)
	6/30/2025
	12/31/2025
		6/30/2026
	12/31/2026
			
(1)
			(2)
	(3)
		(4)
	(5)
			
REVENUES
									
1000 Receipts from Local Sources
								
1100 Taxes
								
	1110
	General Property Tax & PUPP
	3,105,617
	2,675,131
	5,780,748 62,143
	3,129,469
	2,695,677
	5,825,146 64,655
	5,804,600 63,616
	
	1120
	Public Utility Personal Property Tax
	36,456
	25,686
		37,930
	26,725
			
Total Taxes
		3,142,073
	2,700,817
	5,842,890
	3,167,400
	2,722,401
	5,889,801
	5,868,217

	3130
	3131-3133 Property Tax Allocation
	76,786
	76,786
	153,573
	77,415
	77,415
	154,830
	154,201
	
	3135
	State Tangible Reimbursement
	0
	0
	0
	0
	0
	0
	0
	
Total Tax Reimbursement from State Sources
	76,786
	76,786
	153,573
	77,415
	77,415
	154,830
	154,201

	1130
	Income Tax
	0
	0
	0
	0
	0
	0
	0
	
	1190
	Other Receipts (Local Taxes)
	0
	0
	0
	0
	0
	0
	0
	
Total Income and Local Taxes
	0
	0
	0
	0
	0
	0
	0

Total Taxes
	3,218,860
	2,777,603
	5,996,463
	3,244,814
	2,799,816
	6,044,631
	6,022,418

	Other
	1200-1800 Other Receipts-Local Sources
	0
	0
	0
	0
	0
	0
	0
	
	1880
	Tax Increment Financing
	0
	0
	0
	0
	0
	0
	0
	
	1910
	Prem. & Acc. Int. on Bonds & Notes
	0
	0
	0
	0
	0
	0
	0
	
	1920
	Sale of Bonds- Refunding
	0
	0
	0
	0
	0
	0
	0
	
	1940
	Proceeds from Sale of Notes
	0
	0
	0
	0
	0
	0
	0
	
Total of Other Revenue Sources
	0
	0
	0
	0
	0
	0
	0

Total Receipts from Local Sources
	3,218,860
	2,777,603
	5,996,463
	3,244,814
	2,799,816
	6,044,631
	6,022,418

	2000
	Receipts from Intermediate Sources
	0
	0
	0
	0
	0
	0
	0
	
	3000
	Receipts from State Sources
	0
	0
	0
	0
	0
	0
	0
	
Total Revenue from State Sources
	0
	0
	0
	0
	0
	0
	0

	4000
	Revenue from Federal Sources
	0
	0
	0
	0
	0
	0
	0

	5000
	Other Revenue Sources
	0
	0
	0
	0
	0
	0
	0

Total Revenue
	3,218,860
	2,777,603
	5,996,463
	3,244,814
	2,799,816
	6,044,631
	6,022,418

12/23/2024

SCHEDULE OF PROJECTED REVENUE AND EXPENDITURES
							
BOND RETIREMENT FUND

			2025
	Calendar Year
	TOTAL
	2026
	Calendar Year
	TOTAL
	TOTAL
	
Fund
	002
		1/1/2025
	7/1/2025
	CALENDAR YEAR 2025
	1/1/2026
	7/1/2026
	CALENDAR YEAR 2026
	FISCAL YEAR 2025/2026
	
BOND RETIREMENT EXPENDITURES (1)
	6/30/2025
	12/31/2025
		6/30/2026
	12/31/2026
			
(1)
			(2)
	(3)
		(4)
	(5)
			
EXPENDITURES

	2000
	Supporting Services - Fees
	50,000
	33,100
	83,100
	50,000
	33,100
	83,100
	21,208

6000 Repayment of Debt Service
								
	810
	6100 Repayment of Debt Principal
	0 1,102,659
	3,665,000 1,102,659
	3,665,000
	0 1,041,959
	3,790,000 1,041,959
	3,790,000
	3,665,000
	
	820
	6100 Repayment of Debt Interest
			2,205,319
			2,083,919
	2,144,619
	
	830
	6100 Debt Issuance Costs
			0
			0
	0
	
Total Repayment of Debt Service
	1,102,659
	4,767,659
	5,870,319
	1,041,959
	4,831,959
	5,873,919
	5,809,619

7000 Other Debt Service
								
	Other
	Debt Service
	0
	0
	0
	0
	0
	0
	0

										
Total Other Debt Service
	0
	0
	0
	0
	0
	0
	0

										
										
Total Expenditures
	1,152,659
	4,800,759
	5,953,419
	1,091,959
	4,865,059
	5,957,019
	5,830,827

										
Beginning Unencumbered Fund Balance
	3,004,030
	5,070,231
	3,004,030
	3,047,075
	5,199,930
	3,047,075
	5,070,231
	
Ending Cash Balance
	5,070,231
	3,047,075
	3,047,075
	5,199,930
	3,134,687
	3,134,687
	5,261,822

12/23/2024

Indian Hill Exempted Village School District - - Hamilton County
							
SCHEDULE OF PROJECTED REVENUE AND EXPENDITURES - For Debt Activity Funded by Taxes
						
BOND RETIREMENT FUND - 2000 BOND ONLY
								
2025
	2026
	TAX BUDGET

			2025
	Calendar Year
	TOTAL
	2026
	Calendar Year
	TOTAL
	TOTAL
	
Fund
	002
		1/1/2025
	7/1/2025
	CALENDAR YEAR 2025
	1/1/2026
	7/1/2026
	CALENDAR YEAR 2026
	FISCAL YEAR 2025/2026
	
BOND RETIREMENT REVENUE (1)
	6/30/2025
	12/31/2025
		6/30/2026
	12/31/2026
			
(1)
			(2)
	(3)
		(4)
	(5)
			
REVENUES
									
1000 Receipts from Local Sources
								
1100 Taxes
								
	1110
	General Property Tax & PUPP
	927,050
	798,547
	1,725,596 18,550
	934,170
	804,680
	1,738,850 19,300
	1,732,716 18,990
	
	1120
	Public Utility Personal Property Tax
	10,882
	7,668
		11,322
	7,978
			
Total Taxes
		937,932
	806,214
	1,744,146
	945,492
	812,657
	1,758,150
	1,751,706

	3130
	3131-3133 Property Tax Allocation
	22,921
	22,921
	45,843
	23,109
	23,109
	46,218
	46,030
	
	3135
	State Tangible Reimbursement
	0
	0
	0
	0
	0
	0
	0
	
Total Tax Reimbursement from State Sources
	22,921
	22,921
	45,843
	23,109
	23,109
	46,218
	46,030

	1130
	Income Tax
	0
	0
	0
	0
	0
	0
	0
	
	1190
	Other Receipts (Local Taxes)
	0
	0
	0
	0
	0
	0
	0
	
Total Income and Local Taxes
	0
	0
	0
	0
	0
	0
	0

Total Taxes
	960,854
	829,135
	1,789,989
	968,601
	835,766
	1,804,367
	1,797,737

	Other
	1200-1800 Other Receipts-Local Sources
	0
	0
	0
	0
	0
	0
	0
	
	1880
	Tax Increment Financing
	0
	0
	0
	0
	0
	0
	0
	
	1910
	Prem. & Acc. Int. on Bonds & Notes
	0
	0
	0
	0
	0
	0
	0
	
	1920
	Sale of Bonds- Refunding
	0
	0
	0
	0
	0
	0
	0
	
	1940
	Proceeds from Sale of Notes
	0
	0
	0
	0
	0
	0
	0
	
Total of Other Revenue Sources
	0
	0
	0
	0
	0
	0
	0

Total Receipts from Local Sources
	960,854
	829,135
	1,789,989
	968,601
	835,766
	1,804,367
	1,797,737

	2000
	Receipts from Intermediate Sources
	0
	0
	0
	0
	0
	0
	0
	
	3000
	Receipts from State Sources
	0
	0
	0
	0
	0
	0
	0
	
Total Revenue from State Sources
	0
	0
	0
	0
	0
	0
	0

	4000
	Revenue from Federal Sources
	0
	0
	0
	0
	0
	0
	0

	5000
	Other Revenue Sources
	0
	0
	0
	0
	0
	0
	0

Total Revenue
	960,854
	829,135
	1,789,989
	968,601
	835,766
	1,804,367
	1,797,737

12/23/2024

SCHEDULE OF PROJECTED REVENUE AND EXPENDITURES
							
BOND RETIREMENT FUND

			2025
	Calendar Year
	TOTAL
	2026
	Calendar Year
	TOTAL
	TOTAL
	
Fund
	002
		1/1/2025
	7/1/2025
	CALENDAR YEAR 2025
	1/1/2026
	7/1/2026
	CALENDAR YEAR 2026
	FISCAL YEAR 2025/2026
	
BOND RETIREMENT EXPENDITURES (1)
	6/30/2025
	12/31/2025
		6/30/2026
	12/31/2026
			
(1)
			(2)
	(3)
		(4)
	(5)
			
EXPENDITURES

	2000
	Supporting Services - Fees
	9,400
	8,100
	17,500
	9,400
	8,100
	17,500
	21,208

6000 Repayment of Debt Service
								
	810
	6100 Repayment of Debt Principal
	
67,794
	1,680,000
	1,680,000
		1,725,000
	1,725,000
	1,680,000
	
	820
	6100 Repayment of Debt Interest
		67,794
	135,588
	46,794
	46,794
	93,588
	114,588
	
	830
	6100 Debt Issuance Costs
			0
			0
	0
	
Total Repayment of Debt Service
	67,794
	1,747,794
	1,815,588
	46,794
	1,771,794
	1,818,588
	1,794,588

7000 Other Debt Service
								
	Other
	Debt Service
	0
	0
	0
	0
	0
	0
	0

										
Total Other Debt Service
	0
	0
	0
	0
	0
	0
	0

										
										
Total Expenditures
	77,194
	1,755,894
	1,833,088
	56,194
	1,779,894
	1,836,088
	1,815,795

										
Beginning Unencumbered Fund Balance
	590,114
	1,473,774
	590,114
	547,016
	1,459,424
	547,016
	1,473,774
	
Ending Cash Balance
	1,473,774
	547,016
	547,016
	1,459,424
	515,296
	515,296
	1,455,716

12/23/2024

Indian Hill Exempted Village School District - - Hamilton County
							
SCHEDULE OF PROJECTED REVENUE AND EXPENDITURES - For Debt Activity Funded by Taxes
						
BOND RETIREMENT FUND - 2021 BOND ONLY
								
2025
	2026
	TAX BUDGET

			2025
	Calendar Year
	TOTAL
	2026
	Calendar Year
	TOTAL
	TOTAL
	
Fund
	002
		1/1/2025
	7/1/2025
	CALENDAR YEAR 2025
	1/1/2026
	7/1/2026
	CALENDAR YEAR 2026
	FISCAL YEAR 2025/2026
	
BOND RETIREMENT REVENUE (1)
	6/30/2025
	12/31/2025
		6/30/2026
	12/31/2026
			
(1)
			(2)
	(3)
		(4)
	(5)
			
REVENUES
									
1000 Receipts from Local Sources
								
1100 Taxes
								
	1110
	General Property Tax & PUPP
	2,178,567
	1,876,584
	4,055,152 43,593
	2,195,299
	1,890,997
	4,086,297 45,355
	4,071,884 44,626
	
	1120
	Public Utility Personal Property Tax
	25,574
	18,019
		26,608
	18,747
			
Total Taxes
		2,204,141
	1,894,603
	4,098,744
	2,221,907
	1,909,744
	4,131,652
	4,116,510

	3130
	3131-3133 Property Tax Allocation
	53,865
	53,865
	107,730
	54,306
	54,306
	108,612
	108,171
	
	3135
	State Tangible Reimbursement
	0
	0
	0
	0
	0
	0
	0
	
Total Tax Reimbursement from State Sources
	53,865
	53,865
	107,730
	54,306
	54,306
	108,612
	108,171

	1130
	Income Tax
	0
	0
	0
	0
	0
	0
	0
	
	1190
	Other Receipts (Local Taxes)
	0
	0
	0
	0
	0
	0
	0
	
Total Income and Local Taxes
	0
	0
	0
	0
	0
	0
	0

Total Taxes
	2,258,006
	1,948,468
	4,206,474
	2,276,213
	1,964,050
	4,240,263
	4,224,681

	Other
	1200-1800 Other Receipts-Local Sources
	0
	0
	0
	0
	0
	0
	0
	
	1880
	Tax Increment Financing
	0
	0
	0
	0
	0
	0
	0
	
	1910
	Prem. & Acc. Int. on Bonds & Notes
	0
	0
	0
	0
	0
	0
	0
	
	1920
	Sale of Bonds- Refunding
	0
	0
	0
	0
	0
	0
	0
	
	1940
	Proceeds from Sale of Notes
	0
	0
	0
	0
	0
	0
	0
	
Total of Other Revenue Sources
	0
	0
	0
	0
	0
	0
	0

Total Receipts from Local Sources
	2,258,006
	1,948,468
	4,206,474
	2,276,213
	1,964,050
	4,240,263
	4,224,681

	2000
	Receipts from Intermediate Sources
	0
	0
	0
	0
	0
	0
	0
	
	3000
	Receipts from State Sources
	0
	0
	0
	0
	0
	0
	0
	
Total Revenue from State Sources
	0
	0
	0
	0
	0
	0
	0

	4000
	Revenue from Federal Sources
	0
	0
	0
	0
	0
	0
	0

	5000
	Other Revenue Sources
	0
	0
	0
	0
	0
	0
	0

Total Revenue
	2,258,006
	1,948,468
	4,206,474
	2,276,213
	1,964,050
	4,240,263
	4,224,681

12/23/2024

SCHEDULE OF PROJECTED REVENUE AND EXPENDITURES
							
BOND RETIREMENT FUND

			2025
	Calendar Year
	TOTAL
	2026
	Calendar Year
	TOTAL
	TOTAL
	
Fund
	002
		1/1/2025
	7/1/2025
	CALENDAR YEAR 2025
	1/1/2026
	7/1/2026
	CALENDAR YEAR 2026
	FISCAL YEAR 2025/2026
	
BOND RETIREMENT EXPENDITURES (1)
	6/30/2025
	12/31/2025
		6/30/2026
	12/31/2026
			
(1)
			(2)
	(3)
		(4)
	(5)
			
EXPENDITURES

	2000
	Supporting Services - Fees
	40,600
	25,000
	65,600
	40,600
	25,000
	65,600
	21,208

6000 Repayment of Debt Service
								
	810
	6100 Repayment of Debt Principal
	
1,034,866
	1,985,000
	1,985,000
		2,065,000 995,166
	2,065,000
	1,985,000
	
	820
	6100 Repayment of Debt Interest
		1,034,866
	2,069,731
	995,166
		1,990,331
	2,030,031
	
	830
	6100 Debt Issuance Costs
			0
			0
	0
	
Total Repayment of Debt Service
	1,034,866
	3,019,866
	4,054,731
	995,166
	3,060,166
	4,055,331
	4,015,031

7000 Other Debt Service
								
	Other
	Debt Service
	0
	0
	0
	0
	0
	0
	0

										
Total Other Debt Service
	0
	0
	0
	0
	0
	0
	0

										
										
Total Expenditures
	1,075,466
	3,044,866
	4,120,331
	1,035,766
	3,085,166
	4,120,931
	4,036,239

										
Beginning Unencumbered Fund Balance
	2,413,916
	3,596,456
	2,413,916
	2,500,059
	3,740,506
	2,500,059
	3,596,456
	
Ending Cash Balance
	3,596,456
	2,500,059
	2,500,059
	3,740,506
	2,619,391
	2,619,391
	3,784,898

12/23/2024

Indian Hill Exempted Village School District - - Hamilton County 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 7/1/2025
	Principal & Interest Due 7/1/2025
6/30/2026
	Amount Available from Other Sources 7/1/2025
6/30/2026
	Bonds and Notes Outstanding 1/1/2026
	Principal & Interest Due 1/1/2026
12/31/2026
	Amount Available from Other Sources 1/1/2026
12/31/2026

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

OUTSIDE 10 MILL LIMIT
											
School Construction School Construction
	By Vote Nov. 2000 By Vote May 2021
	2016 2021
	12/1/2027 12/1/2051
	Serial Serial
	5% 4%
	$5,240,000 66,155,000
	$1,794,588 4,054,731
	1,789,989 4,206,474
	3,560,000 64,170,000
	1,818,588 4,055,331
	1,804,367 4,240,263
	
TOTAL OUTSIDE
						$71,395,000
	$5,849,319
	$5,996,463
	$67,730,000
	$5,873,919
	$6,044,631

*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	5,873,919