Tax Budget

Fiscal Year 2022

Presented for Approval: January 12, 2021

HAMILTON COUNTY, OHIO

Office of the Board of Education Indian Hill EVSD	January 12 ,	2021

To the County Auditor:

The Board of Education of said School District, hereby submits its' annual budget for the year commencing July 1, 2021	for consideration of the County Budget Commission.

President of the Board

Indian Hill Exempted Village School District
Schedule Of Revenue, Expenditures and Changes In Fund Balances Actual and Forecasted Operating Fund
	
	ACTUAL
	FORECASTED
	
	Fiscal Year            Fiscal Year           Fiscal Year 2018                      2019                      2020
	Fiscal Year           Fiscal Year           Fiscal Year             Fiscal Year              Fiscal Year 2021                      2022                      2023                       2024                         2025
	
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
1.045 ‐ Restricted Federal Grants‐in‐Aid ‐ SFSF 1.050 ‐ Property Tax Allocation
1.060 ‐ All Other Operating Revenues
	
27,343,946           21,710,369           24,634,247 590,537                538,700                602,605
‐	‐	‐ 1,505,969             1,451,035             1,399,482
172,886	127,274	134,553 ‐                              ‐                                ‐
3,043,043             3,069,316             3,062,553 5,088,881             5,759,634             7,692,335
	
24,762,773           24,926,656           25,041,431              25,232,639              25,405,927 648,755                655,167                659,852                   668,017                   673,801
‐	‐	‐	‐	‐ 1,367,438             1,586,386             1,590,636                1,595,230                1,599,903
150,331	150,331	150,331	150,331	150,331 ‐                              ‐                              ‐                                 ‐                                 ‐
3,091,480             3,112,612             3,128,081                3,151,498                3,173,827 6,133,585             5,933,690             5,555,500                5,369,740                5,380,654
	
1.070 ‐ Total Revenue
	37,745,262	32,656,329	37,525,775
	36,154,362	36,364,842	36,125,831	36,167,455	36,384,443

Other Financing Sources:
2.010 ‐ Proceeds from Sale of Notes
2.020 ‐ State Emergency Loans and Advancements 2.040 ‐ Operating Transfers‐In
2.050 ‐ Advances‐In
2.060 ‐ All Other Financing Sources 2.070 ‐ Total Other Financing Sources
	
‐	‐	‐ ‐	‐	‐ ‐	‐	‐
2,826                   32,500                  78,412 17,947                286,485                  17,169
	
‐	‐	‐	‐	‐ ‐	‐	‐	‐	‐ ‐	‐	‐	‐	‐
19,549                   30,000                   30,000                      30,000                      30,000 15,000                   15,000                   15,000                      15,000                      15,000
	
	20,773	318,985	95,581
	34,549	45,000	45,000	45,000	45,000
	
2.080 ‐ Total Revenues and Other Financing Sources
	37,766,035	32,975,315	37,621,355
	36,188,910	36,409,842	36,170,830	36,212,455	36,429,443

Expenditures:
3.010 ‐ Personnel Services
3.020 ‐ Employees' Retirement/Insurance Benefits 3.030 ‐ Purchased Services
3.040 ‐ Supplies and Materials 3.050 ‐ Capital Outlay
3.060 ‐ Intergovernmental

Debt Service:
4.010 ‐ Principal‐All Years 4.020 ‐ Principal ‐ Notes 4.030 ‐ Principal ‐ State Loans
4.040 ‐ Principal ‐ State Advances 4.050 ‐ Principal ‐ HB264 Loan 4.055 ‐ Principal ‐ Other
4.060 ‐ Interest and Fiscal Charges 4.300 ‐ Other Objects
	
19,609,110	20,847,735	21,667,178 6,882,952             7,394,948             7,453,139 4,302,742             4,781,196             4,398,282 1,381,586             1,323,215             1,286,874 2,767,792             1,424,434             6,107,228
‐	‐	‐

‐	‐	‐ ‐	‐	‐ ‐	‐	‐ ‐	‐	‐ ‐	‐	‐ ‐	‐	‐ ‐	‐	‐
522,872	420,091	480,976
	
21,359,915           21,687,021           22,078,257              22,500,482              22,910,223 7,478,440             7,784,590             8,128,898                8,502,881                8,901,215 5,320,857             5,428,689             5,522,725                5,662,739                5,722,756 1,618,874             1,369,532             1,380,836                1,392,559                1,404,227 650,000                650,000             1,300,000                1,300,000                1,300,000
‐	‐	‐	‐	‐

‐	‐	‐	‐	‐ ‐	‐	‐	‐	‐ ‐	‐	‐	‐	‐ ‐	‐	‐	‐	‐ ‐	‐	‐	‐	‐ ‐	‐	‐	‐	‐ ‐	‐	‐	‐	‐
485,976	490,836	495,744	500,702	505,709
	
4.500 ‐ Total Expenditures
	35,467,054	36,191,619	41,393,678
	36,914,062	37,410,668	38,906,461	39,859,363	40,744,129

Other Financing Uses
5.010 ‐ Operating Transfers‐Out 5.020 ‐ Advances‐Out
5.030 ‐ All Other Financing Uses 5.040 ‐ Total Other Financing Uses
	
‐	‐	‐ 32,500                   78,412                  19,549
‐	3,997	‐
	
‐                              ‐                              ‐                                 ‐                                 ‐ 30,000                   30,000                   30,000                      30,000                      30,000 ‐                              ‐                              ‐                                 ‐                                 ‐
	
	32,500	82,409	19,549
	30,000	30,000	30,000	30,000	30,000
	
5.050 ‐ Total Expenditures and Other Financing Uses
	35,499,554	36,274,028	41,413,227
	36,944,062	37,440,668	38,936,461	39,889,363	40,774,129

Excess of Rev & Other Financing Uses Over (Under) 6.010 ‐ Expenditures and Other Financing Uses
			
	2,266,481	(3,298,713)	(3,791,871)
	(755,152)	(1,030,826)	(2,765,631)	(3,676,908)	(4,344,687)

Cash Balance July 1 ‐ Excluding Proposed Renewal/ 7.010 ‐ Replacement and New Levies
	
19,603,972	21,870,454	18,571,741
	
14,779,869	14,024,718	12,993,892	10,228,261	6,551,353
	
7.020 ‐ Cash Balance June 30
	21,870,454	18,571,741	14,779,869
	14,024,718	12,993,892	10,228,261	6,551,353	2,206,667

8.010 ‐ Estimated Encumbrances June 30

Reservations of Fund Balance:
9.010 ‐ Textbooks and Instructional Materials 9.020 ‐ Capital Improvements
9.030 ‐ Budget Reserve 9.040 ‐ DPIA
9.050 ‐ Debt Service
9.060 ‐ Property Tax Advances 9.070 ‐ Bus Purchases
9.080 ‐ Subtotal
	
‐	‐	‐

‐	‐	‐ ‐	‐	‐ ‐	‐	‐ ‐	‐	‐ ‐	‐	‐ ‐	‐	‐ ‐	‐	‐
	
‐	‐	‐	‐	‐

‐	‐	‐	‐	‐ ‐	‐	‐	‐	‐ ‐	‐	‐	‐	‐ ‐	‐	‐	‐	‐ ‐	‐	‐	‐	‐ ‐	‐	‐	‐	‐ ‐	‐	‐	‐	‐
	
	‐	‐	‐
	‐	‐	‐	‐	‐
	
Fund Balance June 30 for Certification 10.010 ‐ of Appropriations
			
	21,870,454	18,571,741	14,779,869
	14,024,718	12,993,892	10,228,261	6,551,353	2,206,667

Rev from Replacement/Renewal Levies 11.010 ‐ Income Tax ‐ Renewal
11.020 ‐ Property Tax ‐ Renewal or Replacement
11.030 ‐ Cumulative Balance of Replacement/Renewal Levies

‐	‐	‐
	
‐	‐	‐	‐	‐ ‐	‐	‐	‐	‐ ‐	‐	‐	‐	‐
	
Fund Balance June 30 for Certification 12.010 ‐ of Contracts, Salary and Other Obligations
			
	21,870,454	18,571,741	14,779,869
	14,024,718	12,993,892	10,228,261	6,551,353	2,206,667

Revenue from New Levies 13.010 ‐ Income Tax ‐ New 13.020 ‐ Property Tax ‐ New
13.030 ‐ Cumulative Balance of New Levies

14.010 ‐ Revenue from Future State Advancements

‐	‐	‐

‐	‐	‐
	
‐	‐	‐	‐	‐ ‐	‐	‐	‐	‐ ‐	‐	‐	‐	‐

‐	‐	‐	‐	‐
	
15.010 ‐ Unreserved Fund Balance June 30
	21,870,454	18,571,741	14,779,869
	14,024,718	12,993,892	10,228,261	6,551,353	2,206,667

Indian Hill Exempted Village School District

Five Year Forecast Financial Report

November 2021

Prepared by Mick Davis, Treasurer

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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.

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November 2021	Forecast Summary	Indian Hill Exempted Village School District

$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

‐	‐	‐	‐	‐

2,206,667

$0		‐	‐ 2020 Actual

‐	‐ 2021 Projected

‐	‐ 2022 Projected

‐	‐ 2023 Projected

‐	‐ 2024 Projected

‐	‐ 2025 Projected

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

Note: Cash balance includes any existing levy modeled as renewed during the forecast. Cash balance is not reduced for encumbrances.

Financial Forecast
	Fiscal Year                 Fiscal Year                 Fiscal Year 2021                           2022                           2023
	Fiscal Year                 Fiscal Year 2024                           2025

Beginning Balance
	
14,779,869	14,024,718	12,993,892
	
10,228,261	6,551,353
	
+ Revenue
+ Proposed Renew/Replacement Levies + Proposed New Levies
‐ Expenditures
	36,188,910	36,409,842	36,170,830 ‐                                  ‐                                  ‐
‐	‐	‐ (36,944,062)             (37,440,668)             (38,936,461)
	36,212,455	36,429,443 ‐                                  ‐
‐	‐ (39,889,363)             (40,774,129)
	
= Revenue Surplus or Deficit
	(755,152)	(1,030,826)	(2,765,631)
	(3,676,908)	(4,344,687)
	
Ending Balance with renewal levies Note: Not Reduced for Encumbrances
	14,024,718	12,993,892	10,228,261
	6,551,353	2,206,667

Analysis Without Renewal Levies Included:
Revenue Surplus or Deficit w/o Levies Ending Balance w/o Levies
	(755,152)	(1,030,826)	(2,765,631) 14,024,718               12,993,892               10,228,261
	(3,676,908)               (4,344,687) 6,551,353                  2,206,667

In FY 2021 a revenue shortfall is expected. This means that expenditures are expected to be greater than revenue by $755,152 in FY 2021. By the last year of the forecast, FY 2025, the district is expected to have a revenue shortfall where expenditures are projected to be greater than revenue by $4,344,687 The district would need to cut its FY 2025 projected expenses by 11.93% in order to balance its budget without additional revenue.

The district's cash balance is positive at year‐end in FY 2021 and is projected to worsen by FY 2025. A worsening cash balance can erode the district's financial stability over time.

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$33,217,948
$33,170,693
$37,766,035
$32,975,315
$37,621,355
$36,188,910
$36,409,842
$36,170,830
$36,212,455
$36,429,443
Indian Hill Exempted Village School District

Revenue Sources and Forecast Year‐Over‐Year Projected Overview

$0
$0
Sources of Revenue Over Time

100.0%

90.0%

80.0%

70.0%

60.0%

50.0%

40.0%

30.0%

20.0%

10.0%

0.0%

State

	Funding	

Real Estate

2020

$0
$0
$0
State Funding

Real Estate

2025	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025

Real Estate Income Tax Prop Tax Alloc Other Sources

$6,000,000

$4,000,000

$2,000,000

Public Utility State Funding All Othr Op Rev

13.85%

Renewal Levy Revenue

Year‐Over‐Year Dollar & Percentage Change

20.00%

14.09%	15.00%

10.00%

$0

($2,000,000)

($4,000,000)

($6,000,000)

‐0.14%

2017	2018

‐12.69%

2019	2020

0.61%

‐3.81%

2021	2022

‐0.66%	0.12%

2023	2024

5.00%

0.60%      0.00%

‐5.00%

‐10.00%

‐15.00% 2025

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 increased 5.09% or $1,483,554 annually during the past five years and is projected to decrease ‐0.63% or ‐$238,383 annually through FY2025. All Othr Op Rev has the most projected average annual variance compared to the historical average at ‐ $1,545,618
	
Real Estate	$309,359	$154,336	($155,023) Public Utility                                                          $50,984                $14,239                  ($36,745) Income Tax                                                                      $0                           $0                              $0 State Funding                                                        ($9,746)               $43,240                    $52,986 Prop Tax Alloc                                                       $17,822                $22,255                      $4,433 All Othr Op Rev                                               $1,083,282             ($462,336)           ($1,545,618) Other Sources                                                       $31,853               ($10,116)                ($41,969)

Total Average Annual Change                         $1,483,554             ($238,383)           ($1,721,937) 5.09%                   ‐0.63%                     ‐5.71%

Note: Expenditure average annual change is projected to be >

($127,819) On an annual average basis, expenditures are projected to contract while revenue contracts

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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).

$0
Real Estate as % of Total Revenue

100.0% 90.0%
80.0%

70.0%	65.5%

60.0% 50.0% 40.0% 30.0% 20.0% 10.0%
0.0%
2020

$0
$0
$0
$0
69.7%

$23,796,994
$23,706,171
$27,343,946
$21,710,369
$24,634,247
$24,762,773
$24,926,656
$25,041,431
$25,232,639
$25,405,927
2025
2016	2017	2018	2019	2020	2021	2022	2023	2024	2025

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%

‐0.38%

2017	2018

13.47%

0.52%	0.66%

‐20.60%

2019	2020	2021	2022

0.46%	0.76%

2023	2024

20.00% 15.00% 10.00%
5.00% 0.69%      0.00%

‐5.00% ‐10.00% ‐15.00% ‐20.00%
‐25.00% 2025

Annual Dollar Change	Annual Percentage Change

Values, Tax Rates and Gross Collections
Tax Yr	Valuation	Value Change 2019               1,248,278,170               6,851,190 2020               1,266,943,170             18,665,000 2021               1,269,667,420               2,724,250 2022               1,275,147,420               5,480,000 2023               1,301,547,420             26,400,000 2024               1,304,770,660               3,223,240

Class I Rate 22.59 22.47 22.51 22.53 22.29 22.34

Change	Class II Rate	Change
‐	20.74	‐ (0.12)	20.56                        (0.17)
0.04                       20.59                         0.02 0.02                       20.61                         0.02 (0.23)                      20.33                        (0.28) 0.04                       20.35                         0.02

Gross Collection Rate Including Delinquencies 98.9% 99.0% 99.0% 99.0% 99.0% 99.0%

Real estate property tax revenue accounts for 65.48% of total revenue. Class I or residential/agricultural taxes make up approximately 89.68% of the real estate property tax revenue. The Class I tax rate is 22.47 mills in tax year 2020. The projections reflect an average gross collection rate of 99.0% annually through tax year 2024. The revenue changed at an average annual historical rate of 2.74% and is projected to change at an average annual rate of 0.62% through FY 2025.

Despite current economic issues, the real estate market remains particularly strong. In Cincinnati, demand for homes keeps inventories small and homes stay on the market for a short period of time. 2020 marks a triennial valuation of all properties in Hamilton County and 2023 will be a reappraisal year. Historical values of the 2014 triennial valuation and the 2017 reappraisals were used as estimates for tax year 2020 and 2023.

*Projected % trends include renewal levies

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$532,842
$449,652
$590,537
$538,700
$602,605
$648,755
$655,167
$659,852
$668,017
$673,801
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%	1.6% 0.0%
2020

1.8%

2025	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025

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% ‐15.61%

2017	2018	2019

11.86%
7.66%

0.99%	0.72%	1.24%

2020	2021	2022	2023	2024

40.00%

30.00%

20.00%

10.00%

0.87%      0.00%

‐10.00%

‐20.00% 2025

Annual Dollar Change	Annual Percentage Change

Values and Tax Rates
Tax Year	Valuation 2019                   15,049,600 2020                   15,149,600 2021                   15,324,600 2022                   15,399,600 2023                   15,649,600 2024                   15,724,600

Value Change 2,175,360
100,000 175,000 75,000 250,000 75,000

Full Voted Rate	Change 42.92                           ‐ 42.92                           ‐ 42.92                           ‐ 42.92                           ‐ 42.92                           ‐ 42.92                           ‐

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 1.60% of total district revenue. The property is taxed at the full voted tax rate which in tax year 2020 is 42.92 mills. The forecast is modeling an average gross collection rate of 100.00%. The revenue changed historically at an average annual dollar amount of $50,984 and is projected to change at an average annual dollar amount of $14,239 through FY 2025.

*Projected % trends include renewal levies

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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%

2020	2025	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025

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% 2017                          2018                          2019                          2020                          2021                          2022                          2023                          2024

100.00% 90.00% 80.00% 70.00% 60.00% 50.00% 40.00% 30.00% 20.00% 10.00%
0.00%       0.00% 2025

Annual Dollar Change	Annual Percentage Change

The district does not have an income tax levy.

*Projected % trends include renewal levies

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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.

Unrestricted as % of Total Revenue 100.0%
$1,350,118
$1,406,651
$1,505,969
$1,451,035
$1,399,482
$1,367,438
$1,586,386
$1,590,636
$1,595,230
$1,599,903
90.0% 80.0% 70.0% 60.0% 50.0% 40.0% 30.0% 20.0%
10.0%     	3.7%	4.4%	

0.0%		2016	2017	2018	2019	2020	2021	2022	2023	2024	2025 2020                                      2025

Year‐Over‐Year Dollar & Percentage Change

$250,000

$200,000

$150,000

$100,000

$50,000

$0

($50,000)

($100,000)

7.06% 4.19%

2017	2018

‐3.65%	‐3.55%	‐2.29%

2019	2020	2021

16.01%

0.27%	0.29%

2022	2023	2024

20.00%

15.00%

10.00%

5.00%

0.29%      0.00%

‐5.00% 2025

Annual Dollar Change	Annual Percentage Change

District Educated ADM
	
(E
	
nrollme
	
nt)
					
The FY 2019 per pupil and foundation revenue amount is the base aid amount used in FY 2019. In addition to its FY 2021 base funding amount of $1,297,188 the district calculated FY 2021 categorical funding such as spec. ed., preschool, casino of $127,122. Projected amounts less than the FY 2019 base indicate state budget cuts and other assumed change. For fiscal year 2022 ‐ 2025, the district is projecting an average annual increase of 4.22% Note: Wellness funding is not included in these calculations.

All current indicators predict that the district's enrollment will continue to increase.

														

																								

		9
		84
		28
		75
		004
		092
		,152
		,175
		2,199
		2,222
		2,247
				
		1,819
		1,88
		1,92
		1,97
		2,0
		2,0
		2,
		2,
		2
		2
		2

	FY 2015 FY 2016 FY 2017 FY 2018 FY 2019 FY 2020 FY 2021 FY 2022 FY 2023 FY 2024 FY 2025

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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%
$171,449
$156,623
$172,886
$127,274
$134,553
$150,331
$150,331
$150,331
$150,331
$150,331
90.0% 80.0% 70.0% 60.0% 50.0% 40.0% 30.0% 20.0%
10.0%	0.4%	0.4%
0.0%	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
2020	2025

Year‐Over‐Year Dollar & Percentage Change

$20,000

$10,000

$0

($10,000)

($20,000)

($30,000)

($40,000)

($50,000)

10.38%

‐8.65%

2017	2018

5.72%

‐26.38%

2019	2020

11.73%

0.00%	0.00%

2021	2022	2023

0.00%	0.00%

2024	2025

15.00% 10.00% 5.00% 0.00% ‐5.00% ‐10.00% ‐15.00% ‐20.00% ‐25.00%
‐30.00%

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 ‐$7,357 and is projected to change annually on average by $3,156. Restricted funds represent 0.36% of total revenue.

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$2,964,143
$3,009,086
$3,043,043
$3,069,316
$3,062,553
$3,091,480
$3,112,612
$3,128,081
$3,151,498
$3,173,827
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%

8.1%	8.7%

2020	2025	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025

Renewal Levy Revenue

Year‐Over‐Year Dollar & Percentage Change

$50,000

$40,000

$30,000

$20,000

$10,000

$0

($10,000)

1.52%

1.13%

0.86%

2017	2018	2019

0.94%

0.68%		0.75%	0.71% 0.50%

‐0.22%

2020	2021	2022	2023	2024	2025

1.80% 1.60% 1.40% 1.20% 1.00% 0.80% 0.60% 0.40% 0.20% 0.00% ‐0.20%
‐0.40%

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 2021, approximately 11.6% local residential property taxes will be reimbursed by the state in the form of rollback credits and approximately 0.5% will be reimbursed in the form of qualifying homestead exemption credits.

*Projected % trends include renewal levies

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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.

Other Revenue as % of Total Revenue 100.0%
90.0% 80.0% 70.0% 60.0% 50.0% 40.0%
$4,364,876
$4,442,488
$5,088,881
$5,759,634
$7,692,335
$6,133,585
$5,933,690
$5,555,500
$5,369,740
$5,380,654
30.0%	20.4%
20.0%	14.8%

10.0%

0.0%

2020	2025	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025

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)

14.55%	13.18%

1.78%

2017	2018	2019

33.56%

‐3.26%

‐20.26%

2020	2021	2022

‐6.37%	‐3.34%

2023	2024

40.00%

30.00%

20.00%

10.00%

0.20%      0.00%

‐10.00%

‐20.00%

‐30.00% 2025

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 $1,083,282. The projected average annual change is ‐$462,336 through FY 2025.

Donations are being collected by the Indian Hill Foundation on behalf of the District for the Home of the Braves project. This revenue appears in “other income.” The largest annual payment was in fiscal year 2020 and the collections decrease over time ending in fiscal year 2023.

The most significant portion of “other income” is the TIF payments that are collected by Sycamore Township on behalf of nine properties in the Kenwood. Current economic stress could cause these properties to become delinquent in payment. The assumption for this five‐year forecast is that these properties remain current on payments.

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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.

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%	0.3% 0.0%

2020

$37,527
$21
$20,773
$318,985
$95,581
$34,549
$45,000
$45,000
$45,000
$45,000
0.1%	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025 2025

Year‐Over‐Year Dollar & Percentage Change

$400,000

$300,000

$200,000

$100,000

$0

($100,000)

($200,000)

96608.57%

‐99.94%	1435.58%	‐70.04%	‐63.85%	30.25%	0.00%

120000.00%

100000.00%

80000.00%

60000.00%

40000.00%

20000.00%

0.00%	0.00%      0.00%

($300,000)
2017	2018	2019	2020	2021	2022	2023	2024

‐20000.00% 2025

Annual Dollar Change	Annual Percentage Change

	FORECASTED
	
	2020
	2021
	2022
	2023
	2024
	2025
	
Transfers In
	‐
	‐
	‐
	‐
	‐
	‐
	
Advances In
	78,412
	19,549
	30,000
	30,000
	30,000
	30,000
	
All Other Financing Sources
	17,169
	15,000
	15,000
	15,000
	15,000
	15,000

Other sources includes revenue that is generally classified as non‐operating. It is typically in the form of advances‐in which are the repayment of temporary loans made from the general fund to other district funds. In FY 2020 the district receipted $78,412 as advances‐in and is projecting advances of $19,549 in FY 2021. 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 2021 and average $15,000 annually through FY 2025.

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$39,129,547
$34,614,248
$35,499,554
$36,274,028
$41,413,227
$36,944,062
$37,440,668
$38,936,461
$39,889,363
$40,774,129
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%

60.0%	Benefits

50.0%

40.0%

30.0%	Salaries 20.0%

10.0%

0.0%

2020

Salaries
Purchased Services Capital Outlay Other Objects

Benefits

Salaries

2025	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025 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)

2.56%	2.18%

‐11.54%

2017	2018	2019

14.17%

4.00% 1.34%

‐10.79%

2020	2021	2022	2023

2.45%	2.22%

2024	2025

20.00%

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 expenditures increased 6.30% or $2,266,326 annually during the past five years and is projected to decrease ‐0.31% or ‐$127,819 annually through FY2025. Capital Outlay has the largest projected average annual variance compared to the historical average at ‐ $2,594,254.
	
Salaries	$576,033	$248,609	($327,424) Benefits	$206,128	$289,615                   $83,487 Purchased Services                                             ($144,728)	$264,895                 $409,623 Supplies & Materials                                                $4,612                $23,470                   $18,859 Capital Outlay                                                    $1,632,808             ($961,446)          ($2,594,254) Intergov & Debt                                                                $0                           $0                             $0 Other Objects                                                        ($14,101)                 $4,947                   $19,047 Other Uses                                                                 $5,574                   $2,090                   ($3,484)
		
Total Average Annual Change                           $2,266,326             ($127,819)          ($2,394,146) 6.30%                   ‐0.31%                    ‐6.61%

Note: Expenditure average annual change is projected
to be > ($127,819)

On an annual average basis, revenue are projected to contract while expenditures contracts

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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.

Salaries as % of Total Expenditures 100.0%
90.0% 80.0%
70.0%

60.0%     	52.3%	56.2%	

50.0%

$19,296,003
$19,939,079
$19,609,110
$20,847,735
$21,667,178
$21,359,915
$21,687,021
$22,078,257
$22,500,482
$22,910,223
40.0% 30.0% 20.0% 10.0%
0.0%
2020	2025	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025

Year‐Over‐Year Dollar & Percentage Change

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

6.32%

3.33%	3.93%

1.53%	1.80%

‐1.65%	‐1.42%

7.00% 6.00% 5.00% 4.00% 3.00%
1.91%                    1.82%     2.00% 1.00%

0.00% ‐1.00%
‐2.00%

($600,000)		‐3.00% 2017                      2018                      2019                      2020                      2021                      2022                      2023                      2024                      2025

Annual Dollar Change	Annual Percentage Change

Salaries represent 52.32% of total expenditures and increased at a historical average annual rate of 2.86% or $576,033. This category of expenditure is projected to grow at an average annual rate of 1.13% or $248,609 through FY 2025. The projected average annual rate of change is ‐1.73% less than the five year historical annual average.

For the estimated future years, all certified staff were given a step, if eligible, with no increase to the step year‐over‐year. All certified employees who are "stepped out" were given an annual increase of 1.5%. All other employees were given an average of 1.5% annual increase.

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$7,108,026
$6,834,754
$6,882,952
$7,394,948
$7,453,139
$7,478,440
$7,784,590
$8,128,898
$8,502,881
$8,901,215
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%	18.0%

10.0%

0.0%
2020

21.8%

2016	2017	2018	2019	2020	2021	2022	2023	2024	2025

2025

Year‐Over‐Year Dollar & Percentage Change

$600,000 $500,000 $400,000 $300,000
$200,000

7.44%

4.09%	4.42%	4.60%

10.00%

8.00%

6.00% 4.68%     4.00%

$100,000                                                                                                                                                                                                                                                                                               2.00% $0                                                        0.71%                                                   0.79%                    0.34%                                                                                                                                0.00%
‐2.00%
($100,000)

($200,000)
($300,000)     	‐3.84%	     ‐4.00%

($400,000)
2017

‐6.00% 2018	2019	2020	2021	2022	2023	2024	2025

Annual Dollar Change	Percentage of Total Budget

Benefits represent 18.00% of total expenditures and increased at a historical average annual rate of 2.98% This category of expenditure is projected to grow at an annual average rate of 3.63% through FY 2025. The projected average annual rate of change is 0.65% more than the five year historical annual average.

Health insurance was assumed to increase by 9% each year with contributions to the health savings accounts remaining the same.

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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

$3,954,883
$4,832,467
$4,302,742
$4,781,196
$4,398,282
$5,320,857
$5,428,689
$5,522,725
$5,662,739
$5,722,756
100.0% 90.0% 80.0% 70.0% 60.0% 50.0% 40.0% 30.0%
20.0%	10.6%	14.0% 10.0%
0.0%	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025

2020	2025

Year‐Over‐Year Dollar & Percentage Change

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

22.19%	20.98%

11.12%

2.03%	1.73%	2.54%

‐8.01% ‐10.96%

25.00%

20.00%

15.00%

10.00%

5.00% 1.06%     0.00%

‐5.00%

‐10.00%

($800,000)
2017	2018	2019	2020	2021	2022

‐15.00% 2023	2024	2025

Annual Dollar Change	Annual Percentage Change

Purchased Services represent 10.62% of total expenditures and decreased at a historical average annual rate of ‐2.62%. This category of expenditure is projected to grow at an annual average rate of 5.67% through FY 2025. The projected average annual rate of change is 8.28% more than the five year historical annual average.

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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.

Supplies & Materials as % of Total Expenditures

$1,336,683
$1,273,039
$1,381,586
$1,323,215
$1,286,874
$1,618,874
$1,369,532
$1,380,836
$1,392,559
$1,404,227
100.0% 90.0% 80.0% 70.0% 60.0% 50.0% 40.0% 30.0% 20.0%
10.0%     	3.1%	3.4%	

0.0%
2020	2025

2016	2017	2018	2019	2020	2021	2022	2023	2024	2025

Year‐Over‐Year Dollar & Percentage Change

$400,000

$300,000

$200,000

$100,000

$0

($100,000)

($200,000)

8.53%

‐4.76%	‐4.22%

25.80%

0.83%	0.85% ‐2.75%

‐15.40%

30.00% 25.00% 20.00% 15.00% 10.00%
5.00% 0.84%     0.00%

‐5.00% ‐10.00%
‐15.00%

($300,000)
2017	2018	2019	2020	2021	2022

‐20.00% 2023	2024	2025

Annual Dollar Change	Annual Percentage Change

Supplies & Materials represent 3.11% of total expenditures and increased at a historical average annual rate of 0.52%. This category of expenditure is projected to grow at an annual average rate of 2.58% through FY 2025. The projected average annual rate of change is 2.06% more than the five year historical annual average.

Supplies & Materials will see a substantial increase in fiscal year 2021 because of Covid related expenses. This line item will return to normal in fiscal year 2022 regardless of whether schooling remains in an altered pandemic form.

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		3.2%

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%     	14.7%	

10.0%

0.0%
2020	2025

$1,476,727
$1,208,804
$2,767,792
$1,424,434
$6,107,228
$650,000
$650,000
$1,300,000
$1,300,000
$1,300,000
2016	2017	2018	2019	2020	2021	2022	2023	2024	2025

Year‐Over‐Year Dollar & Percentage Change

$6,000,000

$4,000,000

$2,000,000

$0

($2,000,000)

($4,000,000)

128.97%

‐18.14%	‐48.54%

328.75%

0.00%

‐89.36%

100.00%

0.00%

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)
2017	2018	2019	2020

‐150.00% 2021	2022	2023	2024	2025

Annual Dollar Change	Annual Percentage Change

Capital Outlay represent 14.75% of total expenditures and increased at a historical average annual amount of $1,632,808. This category of expenditure is projected to grow at an annual average amount of ‐$961,446 through FY 2025. The projected average annual change is less than the five year historical annual average.

Capital Outlay was decreased to $650,000 for both the current year and fiscal year 2022. This was because of projected revenue losses for these fiscal years. While these revenue losses may not occur, these amounts will represent a decrease of capital and repairs for the District's infrastructure. These annual amounts were doubled in fiscal year 2023 and maintained at $1.3 million for the remainder of the forecast. The District cannot continue minimal investment in capital items for a significant period of time.

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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%
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%
2020	2025	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025

Year‐Over‐Year Dollar & Percentage Change

$1 $1 $1 $1 $1 $1 $0 $0 $0 $0
$0		0.00%	0.00% 2017                        2018

0.00%	0.00% 2019                        2020

0.00%	0.00%	0.00% 2021                        2022                        2023

0.00%	0.00% 2024                        2025

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

Annual Dollar Change	Annual Percentage Change

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.

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%
2020

$457,226
$523,278
$522,872
$420,091
$480,976
$485,976
$490,836
$495,744
$500,702
$505,709
1.2%

2025	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025

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)

14.45%	14.49%

‐0.08%	1.04%	1.00%	1.00%	1.00%

‐19.66%

20.00% 15.00% 10.00%
5.00% 1.00%     0.00%

‐5.00% ‐10.00% ‐15.00%
‐20.00%

($120,000)
2017	2018	2019	2020	2021	2022	2023	2024

‐25.00% 2025

Annual Dollar Change	Annual Percentage Change

Other Objects represent 1.16% of total expenditures and decreased at a historical average annual rate of ‐1.75%. This category of expenditure is projected to grow at an annual average rate of 1.01% through FY 2025. The projected average annual rate of change is 2.76% more than the five year historical annual average.

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$5,500,000
$2,826
$32,500
$82,409
$19,549
$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%	0.0% 0.0%

2020

0.1%

2025	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025

$1,000,000

$0

($1,000,000)

($2,000,000)

($3,000,000)

Year‐Over‐Year Dollar & Percentage Change

1050.04%

1200.00%

1000.00%

800.00%

600.00%

400.00%

($4,000,000)

($5,000,000)

($6,000,000)

‐99.95%

2017	2018

153.56%

2019

53.46% ‐76.28%

2020	2021

0.00%	0.00%

2022	2023

200.00%

0.00%	0.00% 0.00%

‐200.00% 2024	2025

Annual Dollar Change	Annual Percentage Change

	FORECASTED
	
	2020
	2021
	2022
	2023
	2024
	2025
	
Transfers Out
	‐
	‐
	‐
	‐
	‐
	‐
	
Advances Out
	19,549
	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 2020 the district had advances‐out and has advances‐out forecasted through FY 2025. 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 2025. 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

Fiscal Year:
	Actual
	FORECASTED
	
	2020
	2021	2022	2023	2024	2025
	
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
	
24,634,247 602,605
‐ 1,399,482
134,553 3,062,553 7,692,335
	
24,762,773                24,926,656                25,041,431                25,232,639                25,405,927 648,755                      655,167                      659,852                      668,017                      673,801
‐	‐	‐	‐	‐ 1,367,438                   1,586,386                   1,590,636                   1,595,230                   1,599,903
150,331	150,331	150,331	150,331	150,331 3,091,480                   3,112,612                   3,128,081                   3,151,498                   3,173,827 6,133,585                   5,933,690                   5,555,500                   5,369,740                   5,380,654
	
1.070 ‐ Total Revenue
	37,525,775
	36,154,362	36,364,842	36,125,831	36,167,455	36,384,443
	
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
	
‐ ‐ ‐
78,412 17,169
	
‐	‐	‐	‐	‐ ‐	‐	‐	‐	‐ ‐	‐	‐	‐	‐
19,549                        30,000                        30,000                        30,000                        30,000 15,000                        15,000                        15,000                        15,000                        15,000
	
	95,581
	34,549	45,000	45,000	45,000	45,000
	
2.080 ‐ Total Rev & Other Sources
	37,621,355
	36,188,910	36,409,842	36,170,830	36,212,455	36,429,443
	
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
	
21,667,178 7,453,139 4,398,282 1,286,874 6,107,228
‐
480,976
	
21,359,915                21,687,021                22,078,257                22,500,482                22,910,223 7,478,440                   7,784,590                   8,128,898                   8,502,881                   8,901,215 5,320,857                   5,428,689                   5,522,725                   5,662,739                   5,722,756 1,618,874                   1,369,532                   1,380,836                   1,392,559                   1,404,227 650,000                      650,000                   1,300,000                   1,300,000                   1,300,000
‐	‐	‐	‐	‐
485,976	490,836	495,744	500,702	505,709
	
4.500 ‐ Total Expenditures
	41,393,678
	36,914,062	37,410,668	38,906,461	39,859,363	40,744,129
	
Other Financing Uses
5.010 ‐ Operating Transfers‐Out 5.020 ‐ Advances‐Out
5.030 ‐ All Other Financing Uses 5.040 ‐ Total Other Financing Uses
	
‐ 19,549
‐
	
‐	‐	‐	‐	‐ 30,000                        30,000                        30,000                        30,000                        30,000
‐	‐	‐	‐	‐
	
	19,549
	30,000	30,000	30,000	30,000	30,000
	
5.050 ‐ Total Exp and Other Financing Uses
	41,413,227
	36,944,062	37,440,668	38,936,461	39,889,363	40,774,129

6.010 ‐ Excess of Rev Over/(Under) Exp
	(3,791,871)
	(755,152)	(1,030,826)	(2,765,631)	(3,676,908)	(4,344,687)

7.010 ‐ Cash Balance July 1 (No Levies)
	18,571,741
	14,779,869	14,024,718	12,993,892	10,228,261	6,551,353
	
7.020 ‐ Cash Balance June 30 (No Levies)
	14,779,869
	14,024,718	12,993,892	10,228,261	6,551,353	2,206,667

	Reservations
		
8.010 ‐ Estimated Encumbrances June 30 9.080 ‐ Reservations Subtotal
	‐ ‐
	‐                                    ‐                                    ‐                                    ‐                                    ‐ ‐                                    ‐                                    ‐                                    ‐                                    ‐
	
10.010 ‐ Fund Bal June 30 for Cert of App
	14,779,869
	14,024,718	12,993,892	10,228,261	6,551,353	2,206,667
	
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
	14,779,869
	14,024,718	12,993,892	10,228,261	6,551,353	2,206,667
	
Revenue from New Levies 13.010 & 13.020 ‐ New Levies
13.030 ‐ Cumulative Balance of New Levies

‐
	
‐                                    ‐                                    ‐                                    ‐                                    ‐ ‐                                    ‐                                    ‐                                    ‐                                    ‐
	
15.010 ‐ Unreserved Fund Balance June 30
	14,779,869
	14,024,718	12,993,892	10,228,261	6,551,353	2,206,667

22

Forecast5 Analytics ReportWriter Software 2019 ©

Indian Hill EVSD
									
2021
	2022
	TAX BUDGET

											
				2021
	Calendar Year
	TOTAL
	2022
	Calendar Year
	TOTAL
	TOTAL
	
General Fund Revenue Summary
	1/1/2021
	7/1/2021
	CALENDAR YEAR 2021
	1/1/2022
	7/1/2022
	CALENDAR YEAR 2022
	FISCAL YEAR 2021/2022
	
				6/30/2021
	12/31/2021
		6/30/2022
	12/31/2022
			
				(2)
	(3)
		(4)
	(5)
			
1100 Receipts from Property Taxes
								
	1110 General Property Tax
	13,241,818.00
	11,703,567.00
	24,945,385.00
	13,223,089.00
	11,757,457.00
	24,980,546.00
	24,926,656.00
	
	1122 Public Utility Personal Property Tax
	428,176.00
	222,760.00
	650,936.00
	432,407.00
	224,352.00
	656,759.00
	655,167.00
	
Total Taxes
			13,669,994.00
	11,926,327.00
	25,596,321.00
	13,655,496.00
	11,981,809.00
	25,637,305.00
	25,581,823.00
	
	3131-3133 Property Tax Allocation - RE
	1,539,638.00
	1,539,638.00
	3,079,276.00
	1,572,974.00
	1,572,974.00
	3,145,948.00
	3,112,612.00
	
	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
	1,539,638.00
	1,539,638.00
	3,079,276.00
	1,572,974.00
	1,572,974.00
	3,145,948.00
	3,112,612.00

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
	2,350,000.00
	4,700,000.00
	2,375,000.00
	2,375,000.00
	4,750,000.00
	4,725,000.00
	
Total Income Taxes & T.I.F. Revenue
	2,350,000.00
	2,350,000.00
	4,700,000.00
	2,375,000.00
	2,375,000.00
	4,750,000.00
	4,725,000.00

3000 Receipts from State Sources
								
	3190 Unrestricted Grants-In-Aid
	788,671.22
	844,775.00
	1,633,446.22
	741,611.00
	847,038.00
	1,588,649.00
	1,586,386.00
	
	3134 State Electric Dereg Reimbursement
	0.00
	0.00
	0.00
	0.00
	0.00
	0.00
	0.00
	
	Restricted Grants-In-Aid
	150,000.00
	0.00
	150,000.00
	150,000.00
	0.00
	150,000.00
	150,000.00
	
	Other State Sources
	0.00
	0.00
	0.00
	0.00
	0.00
	0.00
	0.00
	
Total State Resources
		938,671.22
	844,775.00
	1,783,446.22
	891,611.00
	847,038.00
	1,738,649.00
	1,736,386.00

Receipts from Local Sources
								
	All Other Revenue
		535,000.00
	604,511.00
	1,139,511.00
	604,510.00
	600,000.00
	1,204,510.00
	1,209,021.00

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
	19,055,803.22
	17,287,751.00
	36,343,554.22
	19,122,091.00
	17,399,321.00
	36,521,412.00
	36,409,842.00

						Should balance to the total revenue/receipts from the five-year forecast.
	36,409,842.00

12/15/2020

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

								
	2021
	Calendar Year
	TOTAL
	2022
	Calendar Year
	TOTAL
	TOTAL
	
	1/1/2021
	7/1/2021
	CALENDAR YEAR 2021
	1/1/2022
	7/1/2022
	CALENDAR YEAR 2022
	FISCAL YEAR 2021/2022
	
BOND RETIREMENT REVENUE (1)
	6/30/2021
	12/31/2021
		6/30/2022
	12/31/2022
			
(1)
	(2)
	(3)
		(4)
	(5)
			
REVENUES
								
1000 Receipts from Local Sources
								
1100 Taxes
								
1110 General Property Tax & PUPP
	883,190.91
	799,529.44
	1,682,720.34
	872,521.88
	789,860.71
	1,662,382.59
	1,672,051.32
	
Total Taxes
	883,190.91
	799,529.44
	1,682,720.34
	872,521.88
	789,860.71
	1,662,382.59
	1,672,051.32

3131-3133 Property Tax Allocation
	103,126.99
	103,126.99
	206,253.99
	101,893.95
	101,893.95
	203,787.91
	205,020.95
	
3135 State Tangible Reimbursement
			0.00
			0.00
	0.00
	
Total Tax Reimbursement from State Sources
	103,126.99
	103,126.99
	206,253.99
	101,893.95
	101,893.95
	203,787.91
	205,020.95

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
	986,317.90
	902,656.43
	1,888,974.33
	974,415.84
	891,754.66
	1,866,170.50
	1,877,072.27

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
	986,317.90
	902,656.43
	1,888,974.33
	974,415.84
	891,754.66
	1,866,170.50
	1,877,072.27

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
	986,317.90
	902,656.43
	1,888,974.33
	974,415.84
	891,754.66
	1,866,170.50
	1,877,072.27

12/15/2020

SCHEDULE OF PROJECTED REVENUE AND EXPENDITURES
								
BOND RETIREMENT FUND

	2021
	Calendar Year
	TOTAL
	2022
	Calendar Year
	TOTAL
	TOTAL
	
	1/1/2021
	7/1/2021
	CALENDAR YEAR 2021
	1/1/2022
	7/1/2022
	CALENDAR YEAR 2022
	FISCAL YEAR 2021/2022
	
BOND RETIREMENT EXPENDITURES (1)
	6/30/2021
	12/31/2021
		6/30/2022
	12/31/2022
			
(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
	1,370,000.00
	1,370,000.00
		1,430,000.00
	1,430,000.00
	1,370,000.00
	
6100 Repayment of Debt Interest
	182,168.75
	182,168.75
	364,337.50
	154,768.75
	154,768.75
	309,537.50
	336,937.50
	
6100 Debt Issuance Costs
			0.00
			0.00
	0.00
	
Total Repayment of Debt Service
	182,168.75
	1,552,168.75
	1,734,337.50
	154,768.75
	1,584,768.75
	1,739,537.50
	1,706,937.50

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
	197,168.75
	1,567,168.75
	1,764,337.50
	169,768.75
	1,599,768.75
	1,769,537.50
	1,736,937.50

								
Beginning Unencumbered Fund Balance
	1,275,276.78
	2,064,425.93
	1,275,276.78
	1,399,913.61
	2,204,560.70
	1,399,913.61
	2,064,425.93
	
Ending Cash Balance
	2,064,425.93
	1,399,913.61
	1,399,913.61
	2,204,560.70
	1,496,546.61
	1,496,546.61
	2,204,560.70

12/15/2020

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 7/1/2021
	Principal & Interest Due 7/1/2021
6/30/2022
	Amount Available from Other Sources 7/1/2021
6/30/2022
	Bonds and Notes Outstanding 1/1/2022
	Principal & Interest Due 1/1/2022
12/31/2022
	Amount Available from Other Sources 1/1/2022
12/31/2022

0

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

2016

6/1, 12/1

11,090,000

1,706,938

9,720,000

1,739,538
		
OUTSIDE 10 MILL LIMIT

School Construction
	
By Vote November 2000
											
TOTAL OUTSIDE
						$11,090,000
	$1,706,938
	$0
	$9,720,000
	$1,739,538
	$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
	1,739,538