Tax Budget

Fiscal Year 2025

Presented for Approval: January 9, 2024

HAMILTON COUNTY, OHIO

Office of the Board of Education	Indian Hill EVSD - Hamilton County	January 9 ,	2024

To the County Auditor:

The Board of Education of said School District, hereby submits its' annual budget for the year commencing July 1, 2024	for consideration of the County Budget Commission.

President of the Board

Indian Hill Exempted Village School District - - Hamilton County
							
2024
	2025
	TAX BUDGET
								
				FY2024
	1st Half FY2025
		2nd Half FY2025
	1st Half FY2026
		FY2025

				2024
	Calendar Year
	TOTAL
	2025
	Calendar Year
	TOTAL
	TOTAL
	
General Fund Revenue Summary
	1/1/2024
	7/1/2024
	CALENDAR YEAR 2024
	1/1/2025
	7/1/2025
	CALENDAR YEAR 2025
	FISCAL YEAR 2024/2025
	
	Does NOT Include Renewal Levy Proceeds
	6/30/2024
	12/31/2024
		6/30/2025
	12/31/2025
			
				(2)
	(3)
		(4)
	(5)
			
1100 Receipts from Property Taxes
								
	1110
	General Property Tax
	16,707,937
	14,552,940
	31,260,878
	17,351,172
	14,622,266
	31,973,437
	31,904,112
	
	1120
	Public Utility Personal Property Tax
	478,307
	351,106
	829,413
	491,543
	360,710
	852,252
	842,649
	
Total Taxes
			17,186,244
	14,904,047
	32,090,291
	17,842,714
	14,982,976
	32,825,690
	32,746,761
	
	3130
	3131-3133 Property Tax Allocation - R
	1,701,563
	1,771,159
	3,472,722
	1,780,106
	1,780,106
	3,560,212
	3,551,265
	
	3135
	State Tangible PP Reimbursement
	0
	0
	0
	0
	0
	0
	0
	
Total Tax Reimbursement from State Sources
	1,701,563
	1,771,159
	3,472,722
	1,780,106
	1,780,106
	3,560,212
	3,551,265

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
	926,220
	1,085,535
	2,011,755
	1,085,535
	1,269,928
	2,355,463
	2,171,071
	
	3134
	State Electric Dereg Reimbursement
	0
	0
	0
	0
	0
	0
	0
	
	3200
	Restricted Grants-In-Aid
	200,149
	205,613
	405,762
	205,613
	211,595
	417,208
	411,226
	
	3190
	Other State Sources
	81,850
	95,929
	177,779
	95,929
	112,224
	208,153
	191,858
	
Total State Resources
		1,208,219
	1,387,078
	2,595,296
	1,387,078
	1,593,747
	2,980,825
	2,774,155

Receipts from Local Sources
								
	Other
	All Other Revenue
	3,623,617
	3,649,385
	7,273,002
	3,649,385
	3,666,221
	7,315,606
	7,298,770

Receipts from Other Financing Sources
								
	Non-Op
	Other Financing Sources
	33,408
	22,500
	55,908
	22,500
	22,500
	45,000
	45,000

Total Revenue and Other Funding Sources
	23,753,050
	21,734,168
	45,487,218
	24,681,782
	22,045,549
	46,727,332
	46,415,951

						Should balance to the total revenue/receipts from the five-year forecast.
	46,415,951

12/22/2023

Indian Hill Exempted Village School District

Five Year Forecast Financial Report
November 2023

Prepared by Mick Davis, CFO/Treasurer

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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 ‐ State Share‐Local Property Taxes                                                                                                                                                              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 2023	Forecast Summary	Indian Hill Exempted Village School District

Projected Revenue, Expenditures, and Cash Balance $60,000,000

$50,000,000

‐ $40,000,000

‐	‐	‐	‐	‐

$30,000,000
20,196,914

$20,000,000

$10,000,000

$0		‐	‐ 2023 Actual

‐	‐ 2024 Projected

‐	‐ 2025 Projected

‐	‐ 2026 Projected

‐	‐ 2027 Projected

‐	‐ 2028 Projected

Total Revenue	Replace/Renew Levies	Total Expenditures	15.01 Cash Balance

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

Financial Forecast
	Fiscal Year                 Fiscal Year                 Fiscal Year 2024                           2025                           2026
	Fiscal Year                 Fiscal Year 2027                           2028

Beginning Balance (Line 7.010) Plus Renewal/New Levies Modeled
	
16,064,941	16,230,925	17,775,967
	
18,952,324	19,867,568
	
+ Revenue
+ Proposed Renew/Replacement Levies + Proposed New Levies
‐ Expenditures
	44,666,397	46,415,951	47,052,684 ‐                                  ‐                                  ‐
‐	‐	‐ (44,500,413)             (44,870,908)             (45,876,327)
	47,901,363               48,446,874 102,764                     208,345
‐	‐ (47,088,883)             (48,325,873)
	
= Revenue Surplus or Deficit
	165,984	1,545,042	1,176,356
	915,244	329,346
	
Line 7.020 Ending Balance with renewal/new levies
	16,230,925	17,775,967	18,952,324
	19,867,568	20,196,914

Analysis Without Renewal Levies Included:
Revenue Surplus or Deficit w/o Levies Ending Balance w/o Levies
	165,984                  1,545,042                  1,176,356 16,230,925               17,775,967               18,952,324
	812,480                     121,001 19,764,804               19,885,805

In FY 2024 a revenue surplus is expected. This means that expenditures are expected to be less than revenue by ‐$165,984 in FY 2024. By the last year of the forecast, FY 2028, the district is expected to have a revenue surplus where expenditures are projected to be less than revenue by ‐$121,001 The district would need to cut its FY 2028 projected expenses by ‐0.25% in order to balance its budget without additional revenue.

The district's cash balance is positive at year‐end in FY 2024 and is projected to improve by FY 2028. A worsening cash balance can erode the district's financial stability over time.

Ohio adopted the Fair School Funding Plan (FSFP) in FY 2022. The plan was continued with increasing phase‐in of the formula results. In FY 2024 the per pupil base cost caclulations were updated from FY 2018 cost data to FY 2022. For Indian Hill Exempted Village School District the calculated Base Cost total is $16,982,716 in FY 2024. The state's share of the calculated Base Cost total is $1,719,815 or $809 per pupil.

formula district in FY 2023.

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Revenue Sources and Forecast Year‐Over‐Year Projected Overview Sources of Revenue Over Time
$0
$0
$0
$102,764
$208,345
100.0%

80.0%
State Funding

60.0%

40.0%	 Real Estate

20.0%

State Funding

Real Estate

$32,975,315
$37,621,355
$36,900,503
$40,055,717
$43,970,255
$44,666,397
$46,415,951
$47,052,684
$47,901,363
$48,446,874
0.0%

2023	2028	2019	2020	2021	2022	2023	2024	2025	2026	2027	2028

Other Sources

State Share of Local Property Taxes Income Tax
Real Estate

$5,000,000

All Othr Op Rev State Funding
Public Utility

Renewal Levy Revenue

Year‐Over‐Year Dollar & Percentage Change

16.00%

$4,000,000

$3,000,000

$2,000,000

$1,000,000

$0

($1,000,000)

14.09%

8.55%

‐1.92%

2020	2021	2022

9.77%

3.92% 1.58%

2023	2024	2025

1.37%	2.02%	1.36%

2026	2027	2028

14.00% 12.00% 10.00% 8.00% 6.00% 4.00% 2.00% 0.00% ‐2.00%
‐4.00%

Annual Dollar Change	Annual Percentage Change

4‐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 7.62% or $2,748,735 annually during the past 4‐Year period and is projected to increase 2.05% or $936,993 annually through FY2028. Real Estate has the most projected average annual variance compared to the historical average at ‐ $1,265,876
	
Real Estate	1,959,280	693,404	($1,265,876) Public Utility                                                          $65,959	$21,636                  ($44,323) Income Tax                                                                      $0                           $0                              $0 State Funding                                                        $28,997	399,193                  $370,195 Prop Tax Alloc                                                       $42,443	$88,285                    $45,842 All Othr Op Rev                                                   $427,903               ($31,406)              ($459,310) Other Sources                                                     $224,152             ($234,119)              ($458,271)

Total Average Annual Change                           2,748,735                936,993            ($1,811,742) 7.62%                    2.05%                     ‐5.57%

Note: Expenditure average annual change is projected

to be >	$846,921 On an annual average basis, expenditures are projected to grow slower than revenue.

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1.010 ‐ General Property Tax (Real Estate)

$158,886
Revenue collected from taxes levied by a school district by the assessed valuation of real property using effective tax rates for class I (residential/agricultural) and class II (business).

$0
$0
$0
$78,434
Real Estate as % of Total Revenue 100.0%

90.0%

80.0%
70.0%	67.2%	67.9%

$21,710,369
$24,634,247
$25,327,151
$27,509,471
$29,547,488
$30,721,378
$31,904,112
$32,053,694
$32,484,516
$32,855,621
60.0% 50.0% 40.0% 30.0% 20.0% 10.0%
0.0%

2023	2028	2019	2020	2021	2022	2023	2024	2025	2026	2027	2028

Renewal Levy Revenue

Year‐Over‐Year Dollar & Percentage Change

$3,500,000

$3,000,000

$2,500,000

$2,000,000

$1,500,000

$1,000,000

$500,000

$0

13.47%

8.62%
7.41%

3.97% 2.81%

2020	2021	2022	2023	2024

3.85%

1.59% 0.47%

2025	2026	2027

16.00%

14.00% 12.00% 10.00% 8.00% 6.00% 4.00%
1.39%      2.00% 0.00%
2028

Annual Dollar Change	Annual Percentage Change

Values, Tax Rates and Gross Collections
Tax Yr	Valuation	Value Change 2022               1,378,845,510             15,333,490 2023               1,768,245,510           389,400,000 2024               1,771,918,750               3,673,240 2025               1,779,113,750               7,195,000 2026               1,833,413,750             54,300,000 2027               1,839,853,750               6,440,000

Class I Rate 23.93 20.00 20.05 20.06 20.00 20.02

Change	Class II Rate	Change
‐	22.52	‐ (3.93)	21.54                        (0.98)
0.05                       21.62                          0.08 0.01                       21.64                          0.02 (0.06)                      21.12                        (0.53) 0.02                       21.17                          0.05

Gross Collection Rate Including Delinquencies 99.5% 99.3% 99.3% 99.3% 99.3% 99.3%

Real estate property tax revenue accounts for 67.20% of total revenue. Class I or residential/agricultural taxes make up approximately 89.92% of the real estate property tax revenue. The Class I tax rate is 20. mills in tax year 2023. The district is modeling the renewal of real estate property taxes levies through 2024. The projections reflect an average gross collection rate of 99.3% annually through tax year 2027. The revenue changed at an average annual historical rate of 8.08% and is projected to change at an average annual rate of 2.25% through FY 2028.

*Projected % trends include renewal levies

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$538,700
$602,605
$567,545
$796,949
$802,537
$819,959
$842,649
$865,339
$863,699
$861,444
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
$24,330
$49,275
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%	1.8% 0.0%
2023

1.9%

2028	2019	2020	2021	2022	2023	2024	2025	2026	2027	2028

Renewal Levy Revenue

Year‐Over‐Year Dollar & Percentage Change

$250,000

$200,000

$150,000

$100,000

$50,000

$0

($50,000)

11.86%

‐5.82%

2020	2021

40.42%

0.70%	2.17%	2.77%	2.69%	2.62%

2022	2023	2024	2025	2026	2027

50.00%

40.00%

30.00%

20.00%

10.00%

2.56%      0.00%

‐10.00% 2028

Annual Dollar Change	Annual Percentage Change

Values and Tax Rates
Tax Year	Valuation 2022                   17,780,340 2023                   18,280,340 2024                   18,780,340 2025                   19,280,340 2026                   19,780,340 2027                   20,280,340

Value Change 434,580 500,000 500,000 500,000 500,000 500,000

Full Voted Rate	Change 45.38                           ‐ 45.38                           ‐ 45.38                           ‐ 45.38                           ‐ 45.38                           ‐ 45.38                           ‐

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

The public utility personal property tax revenue is generated from the personal property values, additions, and depreciation reported by the utility companies. This category currently makes up 1.83% of total district revenue. The property is taxed at the full voted tax rate which in tax year 2023 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 $65,959 and is projected to change at an average annual dollar amount of $21,636 through FY 2028.

*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$0
$0$0
$0$0
10.0%	0.0%	0.0% 0.0%

2023	2028	2019	2020	2021	2022	     2023	2024	2025	2026	2027	2028 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% 2020                          2021                          2022                          2023                          2024

0.00%	0.00%	0.00% 2025                          2026                          2027

100.00% 90.00% 80.00% 70.00% 60.00% 50.00% 40.00% 30.00% 20.00% 10.00%
0.00%       0.00% 2028

Annual Dollar Change	Annual Percentage Change

The district does not have an income tax levy.

*Projected % trends include renewal levies

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1.035 ‐ Unrestricted Grants‐in‐Aid

Funds received through the State Foundation Program with no restriction.

Unrestricted as % of Total Revenue

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

10.0%	3.0%	6.7%

0.0%
2023	2028

$1,451,035
$1,399,482
$1,381,519
$1,266,932
$1,334,754
$2,016,140
$2,362,929
$2,764,304
$3,127,285
$3,252,503
2019	2020	2021	2022	2023	2024	2025	2026	2027	2028

Year‐Over‐Year Dollar & Percentage Change

$800,000 $700,000 $600,000 $500,000 $400,000 $300,000 $200,000 $100,000 $0 ($100,000)
($200,000)

5.35% ‐3.55%	‐1.28%	‐8.29%

2020	2021	2022	2023

51.05%

17.20%	16.99%	13.13%

2024	2025	2026	2027

60.00%

50.00%

40.00%

30.00%

20.00%

10.00% 4.00%      0.00%

‐10.00%

‐20.00% 2028

Annual Dollar Change

District Educated Enrollment

2,127 2,144 2,158 2,171 2,182 2,102	2,100

2,067

2,031 2,013

1,985

Annual Percentage Change

Beginning in FY 2022 Ohio adopted the Fair School Funding Plan (FSFP). Funding is driven by a base cost methodology that incorporates the four 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 $16,982,716 in FY 2024.
The state's share of the calculated Base Cost total is $1,719,815 or $809 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.

FY 2018FY 2019FY 2020FY 2021FY 2022FY 2023FY 2024FY 2025FY 2026FY 2027FY 2028

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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%

$127,274
$134,553
$144,557
$279,267
$359,545
$400,297
$411,226
$423,190
$432,895
$437,760
90.0% 80.0% 70.0% 60.0% 50.0% 40.0% 30.0% 20.0%
10.0%	0.8%	0.9%
0.0%		2019	2020	2021	2022	2023	2024	2025	2026	2027	2028 2023                                      2028

Year‐Over‐Year Dollar & Percentage Change

$160,000

$140,000

$120,000

$100,000

$80,000

$60,000

$40,000

$20,000

$0

5.72%	7.44%

2020	2021

93.19%

28.75%

2022	2023

11.33%

2.73%	2.91%	2.29%

2024	2025	2026	2027

100.00% 90.00% 80.00% 70.00% 60.00% 50.00% 40.00% 30.00% 20.00% 10.00%
1.12%      0.00%

2028

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 $74,997 and is projected to change annually on average by $15,643. Restricted funds represent 0.82% of total revenue. Starting in FY 2022 the district's Success & Wellness funding is considered restricted, the state's share of this funding is recorded as restricted is $53,650. 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.

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$3,069,316
$3,062,553
$3,147,629
$3,210,180
$3,239,088
$3,394,573
$3,551,265
$3,568,716
$3,624,616
$3,680,330
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.

$0
$0
$0
$0
$184
State Share of Local Property Taxes

100.0% 90.0% 80.0% 70.0% 60.0% 50.0% 40.0% 30.0%
20.0%
10.0%	7.4%

0.0%
2023

7.6%

2028	2019	2020	2021	2022	2023	2024	2025	2026	2027	2028

Renewal Levy Revenue

Year‐Over‐Year Dollar & Percentage Change

$180,000 $160,000 $140,000 $120,000 $100,000 $80,000 $60,000 $40,000 $20,000 $0
($20,000)

4.80%	4.62%

2.78%

1.99%                                                                                                                                                               1.57% 0.90%                                                                                           0.49%
‐0.22%

2020	2021	2022	2023	2024	2025	2026	2027

6.00%

5.00%

4.00%

3.00%

2.00% 1.54%
1.00%

0.00%

‐1.00% 2028

Annual Dollar Change	Annual Percentage Change

State Share of Local Property Taxes 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 2024, approximately 10.5% 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.

*Projected % trends include renewal levies

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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%
$5,759,634
$7,692,335
$6,288,987
$6,970,868
$7,471,248
$7,247,233
$7,298,770
$7,332,441
$7,323,353
$7,314,217
30.0%
20.0%     	17.0%	15.0%	

10.0%

0.0%

2023	2028	2019	2020	2021	2022	2023	2024	2025	2026	2027	2028

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)

33.56%

10.84%	7.18%

‐3.00%	0.71%	0.46%

‐18.24%

40.00%

30.00%

20.00%

10.00%

‐0.12%	‐0.12% 0.00%

‐10.00%

‐20.00%

($2,000,000)
2020	2021	2022	2023	2024	2025	2026

‐30.00% 2027	2028

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 $427,903. The projected average annual change is ‐$31,406 through FY 2028.

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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%	2.8%

0.0%
2023

$318,985
$95,581
$43,114
$22,050
$1,215,595
$66,817
$45,000
$45,000
$45,000
$45,000
0.1%
2019	2020	2021	2022	2023	2024	2025	2026	2027	2028
2028

Year‐Over‐Year Dollar & Percentage Change

$1,500,000

$1,000,000

$500,000

$0

($500,000)

($1,000,000)

($1,500,000)

‐70.04%

2020

‐54.89%

2021

‐48.86%

2022

5412.80%

2023

‐94.50%

2024

‐32.65%	0.00%	0.00%

2025	2026	2027

6000.00%

5000.00%

4000.00%

3000.00%

2000.00%

1000.00%

0.00%      0.00%

‐1000.00% 2028

Annual Dollar Change	Annual Percentage Change

	FORECASTED
	
	2023
	2024
	2025
	2026
	2027
	2028
	
Transfers In
	‐
	‐
	‐
	‐
	‐
	‐
	
Advances In
	1,214,045
	51,817
	30,000
	30,000
	30,000
	30,000
	
All Other Financing Sources
	1,550
	15,000
	15,000
	15,000
	15,000
	15,000

Other sources includes revenue that is generally classified as non‐operating. Return advances‐in are the most common revenue source. In FY 2023 the district receipted $1,214,045 as advances‐in and is projecting advances of $51,817 in FY 2024. 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 2024 and average $15,000 annually through FY 2028.

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Indian Hill Exempted Village School District

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

					

					
					
	Benefits
		Benefits

					

	Salaries
		Salaries

					
100.0%

90.0%

80.0%

70.0%

60.0%

50.0%

40.0%

$36,274,028
$41,413,227
$35,884,047
$39,666,086
$44,091,270
$44,500,413
$44,870,908
$45,876,327
$47,088,883
$48,325,873
30.0%

20.0%

10.0%

0.0%

2023	2028	2019	2020	2021	2022	2023	2024	2025	2026	2027	2028 Salaries                                         Benefits
Purchased Services	Supplies & Materials Capital Outlay	Intergov & Debt Other Objects	Other Uses

Year‐Over‐Year Dollar & Percentage Change

$6,000,000

$4,000,000

$2,000,000

$0

($2,000,000)

($4,000,000)

($6,000,000)

($8,000,000)

14.17%

10.54%	11.16%

0.93%	0.83%	2.24%	2.64%

‐13.35%

2020	2021	2022	2023	2024	2025	2026	2027

20.00%

15.00%

10.00%

5.00% 2.63%
0.00%

‐5.00%

‐10.00%

‐15.00% 2028

Annual Dollar Change	Annual Percentage Change

4‐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 5.63% or $1,954,311 annually during the past 4‐Year period and is projected to increase 1.92% or $846,921 annually through FY2028. Purchased Services has the largest projected average annual variance compared to the historical average at ‐$569,162.
	
Salaries	884,795	608,724	($276,071) Benefits                                                                  $157,780              $395,868                 $238,088 Purchased Services                                              $486,309               ($82,853)	($569,162) Supplies & Materials                                            $127,740	$22,145	($105,595) Capital Outlay                                                            $3,051             ($147,327)	($150,378) Intergov & Debt                                                    $140,841	$94,606                 ($46,236) Other Objects	$23,130                   $8,774                 ($14,356) Other Uses                                                            $130,665               ($53,014)	($183,679)
		
Total Average Annual Change                           $1,954,311              $846,921           ($1,107,390) 5.63%                    1.92%                    ‐3.71%

Note: Revenue average annual change is projected to

be > $936,993	On an annual average basis, revenues are projected to grow faster 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.

Salaries as % of Total Expenditures 100.0%

90.0% 80.0%
70.0%
60.0%     	55.3%	56.8%	

$20,847,735
$21,667,178
$21,565,695
$22,135,319
$24,386,915
$24,862,327
$25,478,047
$26,000,741
$26,723,204
$27,430,534
50.0% 40.0% 30.0% 20.0% 10.0%
0.0%
2023	2028	2019	2020	2021	2022	2023	2024	2025	2026	2027	2028

Year‐Over‐Year Dollar & Percentage Change

$2,500,000

$2,000,000

$1,500,000

$1,000,000

$500,000

$0

10.17%

3.93%
2.64%	1.95%	2.48%	2.05%	2.78%

‐0.47%

12.00%

10.00%

8.00%

6.00%

4.00% 2.65%     2.00%

0.00%

($500,000)
2020	2021	2022	2023	2024	2025	2026

‐2.00% 2027	2028

Annual Dollar Change	Annual Percentage Change

Salaries represent 55.31% of total expenditures and increased at a historical average annual rate of 4.07% or $884,795. This category of expenditure is projected to grow at an annual average rate of 2.38% or $608,724 through FY 2028. The projected average annual rate of change is ‐1.69% less than the five year historical annual average.

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$7,394,948
$7,453,139
$6,819,714
$7,599,775
$8,026,067
$8,339,212
$8,730,596
$9,111,768
$9,547,218
$10,005,406
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%	18.2%

10.0%

0.0%
2023

20.7%

2019	2020	2021	2022	2023	2024	2025	2026	2027	2028

2028

Year‐Over‐Year Dollar & Percentage Change

$1,000,000

$800,000	11.44% $600,000

$400,000	5.61%
$200,000	3.90%

$0	0.79% ($200,000)

15.00%

10.00%

4.69%	4.37%	4.78%	4.80%     5.00%

0.00%

($400,000) ($600,000)
($800,000)
2020

‐8.50%

2021	2022	2023	2024	2025	2026	2027

‐5.00%

‐10.00% 2028

Annual Dollar Change	Percentage of Total Budget

Benefits represent 18.20% of total expenditures and increased at a historical average annual rate of 2.33% This category of expenditure is projected to grow at an annual average rate of 4.51% through FY 2028. The projected average annual rate of change is 2.17% more than the five year historical annual average.

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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

$4,781,196
$4,398,282
$4,878,255
$5,591,673
$6,726,431
$6,415,302
$6,272,938
$6,295,911
$6,297,980
$6,312,165
100.0% 90.0% 80.0% 70.0% 60.0% 50.0% 40.0%
30.0%
20.0%     	15.3%	13.1%	

10.0%
0.0%	2019	2020	2021	2022	2023	2024	2025	2026	2027	2028

2023	2028

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)
($600,000)

20.29%

14.62% 10.91%

0.37%
‐2.22% ‐4.63%

‐8.01%

2020	2021	2022	2023	2024	2025	2026

25.00%

20.00%

15.00%

10.00%

5.00%

0.03%	0.23%     0.00%

‐5.00%

‐10.00% 2027	2028

Annual Dollar Change	Annual Percentage Change

Purchased Services represent 15.26% of total expenditures and increased at a historical average annual rate of 9.46%. This category of expenditure is projected to decrease at an annual average rate of ‐1.24% through FY 2028 The FSFP funds only district educated enrollment thereby reducing tuition cost for open enrollment out, community schools, STEM, and scholarships starting in FY 2022. This change resulted in lower district cost but also less per pupil state revnue since per pupil funding was paid directly by the state to the attending school.

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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

$1,323,215
$1,286,874
$1,457,837
$1,459,815
$1,834,174
$1,882,761
$1,896,043
$1,914,196
$1,925,640
$1,944,897
100.0% 90.0% 80.0% 70.0% 60.0% 50.0% 40.0% 30.0% 20.0%
10.0%     	4.2%	4.0%	

0.0%
2023	2028

2019	2020	2021	2022	2023	2024	2025	2026	2027	2028

Year‐Over‐Year Dollar & Percentage Change

$400,000 $350,000 $300,000 $250,000 $200,000 $150,000 $100,000 $50,000 $0 ($50,000)
($100,000)

13.29%

0.14% ‐2.75%

2020	2021	2022

25.64%

2.65%	0.71%	0.96%	0.60%

2023	2024	2025	2026	2027

30.00%

25.00%

20.00%

15.00%

10.00%

5.00% 1.00%     0.00%

‐5.00% 2028

Annual Dollar Change	Annual Percentage Change

Supplies & Materials represent 4.16% of total expenditures and increased at a historical average annual rate of 9.08%. This category of expenditure is projected to grow at an annual average rate of 1.18% through FY 2028. The projected average annual rate of change is ‐7.90% 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.

Capital Outlay 100.0%

90.0% 80.0% 70.0% 60.0% 50.0% 40.0% 30.0% 20.0%
10.0%	3.3%	1.4% 0.0%
2023	2028

$1,424,434
$6,107,228
$678,248
$788,150
$1,436,637
$1,100,000
$550,000
$600,000
$650,000
$700,000
2019	2020	2021	2022	2023	2024	2025	2026	2027	2028

Year‐Over‐Year Dollar & Percentage Change

$6,000,000

$4,000,000

$2,000,000

$0

($2,000,000)

($4,000,000)

328.75%

82.28%

16.20%

‐88.89%

9.09% ‐23.43%	‐50.00%

350.00% 300.00% 250.00% 200.00% 150.00% 100.00%
50.00% 8.33%	7.69% 0.00%

‐50.00%

‐100.00%

($6,000,000)
2020	2021	2022	2023

‐150.00% 2024	2025	2026	2027	2028

Annual Dollar Change	Annual Percentage Change

Capital Outlay represent 3.26% of total expenditures and increased at a historical average annual amount of $3,051. This category of expenditure is projected to decrease at an annual average rate of ‐$147,327 through FY 2028. The projected average annual change is less than the five year historical annual average.

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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.

Debt as % of Total Expenditures

100.0% 90.0% 80.0% 70.0% 60.0% 50.0% 40.0% 30.0% 20.0%
10.0%	1.3% 0.0%
2023

$0
$0
$29,175
$339,096
$563,365
$1,018,822
$1,056,404
$1,062,091
$1,053,600
$1,036,393
2.1%

2028	2019	2020	2021	2022	2023	2024	2025	2026	2027	2028

Year‐Over‐Year Dollar & Percentage Change

$500,000

$400,000

$300,000

$200,000

$100,000

$0

1062.30%

0.00%	0.00%	66.14%	80.85%	3.69%	0.54%

1200.00%

1000.00%

800.00%

600.00%

400.00%

200.00%

‐0.80%	‐1.63% 0.00%

($100,000)
2020	2021	2022	2023	2024	2025

‐200.00% 2026	2027	2028

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%
2023

$420,091
$480,976
$436,519
$538,213
$512,611
$541,990
$546,880
$551,620
$551,241
$556,479
1.2%

2028	2019	2020	2021	2022	2023	2024	2025	2026	2027	2028

Year‐Over‐Year Dollar & Percentage Change

$120,000 $100,000 $80,000 $60,000 $40,000 $20,000 $0 ($20,000)
($40,000)

23.30%

14.49%

5.73%

0.90%	0.87%

‐4.76%

‐9.24%

25.00%

20.00%

15.00%

10.00%

5.00% ‐0.07%	0.95%     0.00%

‐5.00%

‐10.00%

($60,000)
2020	2021	2022	2023	2024	2025	2026

‐15.00% 2027	2028

Annual Dollar Change	Annual Percentage Change

Other Objects represent 1.16% of total expenditures and increased at a historical average annual rate of 5.95%. This category of expenditure is projected to grow at an annual average rate of 1.68% through FY 2028. The projected average annual rate of change is ‐4.27% less than the five year historical annual average.

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$82,409
$19,549
$18,605
$1,214,045
$605,070
$340,000
$340,000
$340,000
$340,000
$340,000
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%	1.4% 0.0%
2023

0.7%

2028	2019	2020	2021	2022	2023	2024	2025	2026	2027	2028

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) ($600,000) ($800,000)

‐76.28%	‐4.83%

2020	2021

6425.22%

‐50.16%

2022	2023

‐43.81%	0.00%	0.00%

2024	2025	2026

7000.00%

6000.00%

5000.00%

4000.00%

3000.00%

2000.00%

1000.00%

0.00%	0.00% 0.00%

‐1000.00% 2027	2028

Annual Dollar Change	Annual Percentage Change

	FORECASTED
	
	2023
	2024
	2025
	2026
	2027
	2028
	
Transfers Out
	553,253
	310,000
	310,000
	310,000
	310,000
	310,000
	
Advances Out
	51,817
	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 2023 the district had advances‐out and has advances‐out forecasted through FY 2028. The district can also move general funds permanently to other funds and as the schedule above presents, the district has transfers forecasted through FY 2028. 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
	
	2023
	2024	2025	2026	2027	2028
	
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
	
29,547,488 802,537
‐ 1,334,754
359,545 3,239,088 7,471,248
	
30,721,378                31,904,112                32,053,694                32,484,516                32,855,621 819,959                      842,649                      865,339                      863,699                      861,444
‐	‐	‐	‐	‐ 2,016,140                   2,362,929                   2,764,304                   3,127,285                   3,252,503
400,297	411,226	423,190	432,895	437,760 3,394,573                   3,551,265                   3,568,716                   3,624,616                   3,680,330 7,247,233                   7,298,770                   7,332,441                   7,323,353                   7,314,217
	
1.070 ‐ Total Revenue
	42,754,660
	44,599,580	46,370,951	47,007,684	47,856,364	48,401,875
	
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
	
‐ ‐ ‐
1,214,045 1,550
	
‐	‐	‐	‐	‐ ‐	‐	‐	‐	‐ ‐	‐	‐	‐	‐
51,817                        30,000                        30,000                        30,000                        30,000 15,000                        15,000                        15,000                        15,000                        15,000
	
	1,215,595
	66,817	45,000	45,000	45,000	45,000
	
2.080 ‐ Total Rev & Other Sources
	43,970,255
	44,666,397	46,415,951	47,052,684	47,901,363	48,446,874
	
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
	
24,386,915 8,026,067 6,726,431 1,834,174 1,436,637 563,365
512,611
	
24,862,327	25,478,047	26,000,741	26,723,204	27,430,534 8,339,212                   8,730,596                   9,111,768                   9,547,218	10,005,406 6,415,302                   6,272,938                   6,295,911                   6,297,980                   6,312,165 1,882,761                   1,896,043                   1,914,196                   1,925,640                   1,944,897 1,100,000                      550,000                      600,000                      650,000                      700,000 1,018,822                   1,056,404                   1,062,091                   1,053,600                   1,036,393
541,990	546,880	551,620	551,241	556,479
	
4.500 ‐ Total Expenditures
	43,486,200
	44,160,413	44,530,908	45,536,327	46,748,884	47,985,873
	
Other Financing Uses
5.010 ‐ Operating Transfers‐Out 5.020 ‐ Advances‐Out
5.030 ‐ All Other Financing Uses 5.040 ‐ Total Other Financing Uses
	
553,253 51,817
‐
	
310,000                      310,000                      310,000                      310,000                      310,000 30,000                        30,000                        30,000                        30,000                        30,000
‐	‐	‐	‐	‐
	
	605,070
	340,000	340,000	340,000	340,000	340,000
	
5.050 ‐ Total Exp and Other Financing Uses
	44,091,270
	44,500,413	44,870,908	45,876,327	47,088,883	48,325,873

6.010 ‐ Excess of Rev Over/(Under) Exp
	(121,015)
	165,984	1,545,042	1,176,356	812,480	121,001

7.010 ‐ Cash Balance July 1 (No Levies)
	16,185,956
	16,064,941	16,230,925	17,775,967	18,952,324	19,764,804
	
7.020 ‐ Cash Balance June 30 (No Levies)
	16,064,941
	16,230,925	17,775,967	18,952,324	19,764,804	19,885,805

	Reservations
		
8.010 ‐ Estimated Encumbrances June 30 9.080 ‐ Reservations Subtotal
	‐ ‐
	500,000	500,000	500,000	500,000	500,000 ‐                                    ‐                                    ‐                                    ‐                                    ‐
	
10.010 ‐ Fund Bal June 30 for Cert of App
	16,064,941
	15,730,925	17,275,967	18,452,324	19,264,804	19,385,805
	
Rev from Replacement/Renewal Levies 11.010 & 11.020 ‐ Renewal Levies 11.030 ‐ Cumulative Balance of Levies

‐
	
‐                                    ‐                                    ‐                           102,764                      208,345 ‐                                    ‐                                    ‐                           102,764                      311,109
	
12.010 ‐ Fund Bal June 30 for Cert of Obligations
	16,064,941
	15,730,925	17,275,967	18,452,324	19,367,568	19,696,914
	
Revenue from New Levies 13.010 & 13.020 ‐ New Levies
13.030 ‐ Cumulative Balance of New Levies

‐
	
‐                                    ‐                                    ‐                                    ‐                                    ‐ ‐                                    ‐                                    ‐                                    ‐                                    ‐
	
15.010 ‐ Unreserved Fund Balance June 30
	16,064,941
	15,730,925	17,275,967	18,452,324	19,367,568	19,696,914

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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
								
2024
	2025
	TAX BUDGET

			2024
	Calendar Year
	TOTAL
	2025
	Calendar Year
	TOTAL
	TOTAL
	
Fund
	002
		1/1/2024
	7/1/2024
	CALENDAR YEAR 2024
	1/1/2025
	7/1/2025
	CALENDAR YEAR 2025
	FISCAL YEAR 2024/2025
	
BOND RETIREMENT REVENUE (1)
	6/30/2024
	12/31/2024
		6/30/2025
	12/31/2025
			
(1)
			(2)
	(3)
		(4)
	(5)
			
REVENUES
									
1000 Receipts from Local Sources
								
1100 Taxes
								
	1110
	General Property Tax & PUPP
	3,120,813
	2,629,987
	5,750,799 67,765
	3,133,294
	2,640,505
	5,773,798 69,943
	5,763,280 69,021
	
	1120
	Public Utility Personal Property Tax
	39,084
	28,681
		40,340
	29,603
			
Total Taxes
		3,159,897
	2,658,668
	5,818,564
	3,173,634
	2,670,108
	5,843,741
	5,832,301

	3130
	3131-3133 Property Tax Allocation
	102,737
	102,737
	205,474
	103,267
	103,267
	206,533
	206,003
	
	3135
	State Tangible Reimbursement
	0
	0
	0
	0
	0
	0
	0
	
Total Tax Reimbursement from State Sources
	102,737
	102,737
	205,474
	103,267
	103,267
	206,533
	206,003

	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
	3,262,633
	2,761,405
	6,024,038
	3,276,900
	2,773,374
	6,050,274
	6,038,305

	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
	3,262,633
	2,761,405
	6,024,038
	3,276,900
	2,773,374
	6,050,274
	6,038,305

	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
	3,262,633
	2,761,405
	6,024,038
	3,276,900
	2,773,374
	6,050,274
	6,038,305

12/22/2023

SCHEDULE OF PROJECTED REVENUE AND EXPENDITURES
							
BOND RETIREMENT FUND - COMBINED ALL BONDS

			2,024
	Calendar Year
	TOTAL
	2,025
	Calendar Year
	TOTAL
	TOTAL
	
Fund
	002
		45,292
	45,474
	CALENDAR YEAR 2,024
	45,658
	45,839
	CALENDAR YEAR 2,025
	FISCAL YEAR 2024/2025
	
BOND RETIREMENT EXPENDITURES (1)
	45,473
	45,657
		45,838
	46,022
			
(1)
			(2)
	(3)
		(4)
	(5)
			
EXPENDITURES

	2000
	Supporting Services - Fees
	46,000
	28,500
	74,500
	46,000
	28,500
	74,500
	21,208

6000 Repayment of Debt Service
								
	810
	6100 Repayment of Debt Principal
		3,505,000
	3,505,000
		3,665,000
	3,665,000
	3,505,000
	
	820
	6100 Repayment of Debt Interest
	1,180,734
	1,180,734
	2,361,469
	1,102,659
	1,102,659
	2,205,319
	2,283,394
	
	830
	6100 Debt Issuance Costs
			0
			0
	0
	
Total Repayment of Debt Service
	1,180,734
	4,685,734
	5,866,469
	1,102,659
	4,767,659
	5,870,319
	5,788,394

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
	1,226,734
	4,714,234
	5,940,969
	1,148,659
	4,796,159
	5,944,819
	5,809,602

										
Beginning Unencumbered Fund Balance
	2,767,258
	4,803,157
	2,767,258
	2,850,327
	4,978,568
	2,850,327
	4,803,157
	
Ending Cash Balance
	4,803,157
	2,850,327
	2,850,327
	4,978,568
	2,955,782
	2,955,782
	5,031,860

12/22/2023

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
								
2024
	2025
	TAX BUDGET

			2024
	Calendar Year
	TOTAL
	2025
	Calendar Year
	TOTAL
	TOTAL
	
Fund
	002
		1/1/2024
	7/1/2024
	CALENDAR YEAR 2024
	1/1/2025
	7/1/2025
	CALENDAR YEAR 2025
	FISCAL YEAR 2024/2025
	
BOND RETIREMENT REVENUE (1)
	6/30/2024
	12/31/2024
		6/30/2025
	12/31/2025
			
(1)
			(2)
	(3)
		(4)
	(5)
			
REVENUES
									
1000 Receipts from Local Sources
								
1100 Taxes
								
	1110
	General Property Tax & PUPP
	573,354
	483,180
	1,056,535 14,160
	575,556
	485,036
	1,060,592 14,615
	1,058,736 14,422
	
	1120
	Public Utility Personal Property Tax
	8,167
	5,993
		8,429
	6,186
			
Total Taxes
		581,521
	489,173
	1,070,694
	583,986
	491,221
	1,075,207
	1,073,159

	3130
	3131-3133 Property Tax Allocation
	94,522
	94,522
	189,044
	95,010
	95,010
	190,019
	189,532
	
	3135
	State Tangible Reimbursement
	0
	0
	0
	0
	0
	0
	0
	
Total Tax Reimbursement from State Sources
	94,522
	94,522
	189,044
	95,010
	95,010
	190,019
	189,532

	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
	676,043
	583,695
	1,259,739
	678,995
	586,231
	1,265,226
	1,262,690

	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
	676,043
	583,695
	1,259,739
	678,995
	586,231
	1,265,226
	1,262,690

	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
	676,043
	583,695
	1,259,739
	678,995
	586,231
	1,265,226
	1,262,690

12/22/2023

SCHEDULE OF PROJECTED REVENUE AND EXPENDITURES
							
BOND RETIREMENT FUND - 2000 BOND ONLY

			2,024
	Calendar Year
	TOTAL
	2,025
	Calendar Year
	TOTAL
	TOTAL
	
Fund
	002
		45,292
	45,474
	CALENDAR YEAR 2,024
	45,658
	45,839
	CALENDAR YEAR 2,025
	FISCAL YEAR 2024/2025
	
BOND RETIREMENT EXPENDITURES (1)
	45,473
	45,657
		45,838
	46,022
			
(1)
			(2)
	(3)
		(4)
	(5)
			
EXPENDITURES

	2000
	Supporting Services - Fees
	12,000
	7,500
	19,500
	12,000
	7,500
	19,500
	4,432

6000 Repayment of Debt Service
								
	810
	6100 Repayment of Debt Principal
		1,595,000
	1,595,000
		1,680,000
	1,680,000
	1,595,000
	
	820
	6100 Repayment of Debt Interest
	107,669
	107,669
	215,338
	67,794
	67,794
	135,588
	175,463
	
	830
	6100 Debt Issuance Costs
			0
			0
	0
	
Total Repayment of Debt Service
	107,669
	1,702,669
	1,810,338
	67,794
	1,747,794
	1,815,588
	1,770,463

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
	119,669
	1,710,169
	1,829,838
	79,794
	1,755,294
	1,835,088
	1,774,894

										
Beginning Unencumbered Fund Balance
	1,145,611
	1,701,985
	1,145,611
	575,512
	1,174,713
	575,512
	1,701,985
	
Ending Cash Balance
	1,701,985
	575,512
	575,512
	1,174,713
	5,650
	5,650
	1,189,782

12/22/2023

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
								
2024
	2025
	TAX BUDGET

			2024
	Calendar Year
	TOTAL
	2025
	Calendar Year
	TOTAL
	TOTAL
	
Fund
	002
		1/1/2024
	7/1/2024
	CALENDAR YEAR 2024
	1/1/2025
	7/1/2025
	CALENDAR YEAR 2025
	FISCAL YEAR 2024/2025
	
BOND RETIREMENT REVENUE (1)
	6/30/2024
	12/31/2024
		6/30/2025
	12/31/2025
			
(1)
			(2)
	(3)
		(4)
	(5)
			
REVENUES
									
1000 Receipts from Local Sources
								
1100 Taxes
								
	1110
	General Property Tax & PUPP
	2,547,458
	2,146,807
	4,694,265 53,605
	2,557,737
	2,155,469
	4,713,206 55,328
	4,704,544 54,599
	
	1120
	Public Utility Personal Property Tax
	30,917
	22,688
		31,911
	23,417
			
Total Taxes
		2,578,375
	2,169,495
	4,747,870
	2,589,648
	2,178,886
	4,768,534
	4,759,143

	3130
	3131-3133 Property Tax Allocation
	8,215
	8,215
	16,429
	8,257
	8,257
	16,514
	16,472
	
	3135
	State Tangible Reimbursement
	0
	0
	0
	0
	0
	0
	0
	
Total Tax Reimbursement from State Sources
	8,215
	8,215
	16,429
	8,257
	8,257
	16,514
	16,472

	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
	2,586,590
	2,177,709
	4,764,299
	2,597,905
	2,187,143
	4,785,048
	4,775,614

	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
	2,586,590
	2,177,709
	4,764,299
	2,597,905
	2,187,143
	4,785,048
	4,775,614

	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
	2,586,590
	2,177,709
	4,764,299
	2,597,905
	2,187,143
	4,785,048
	4,775,614

12/22/2023

SCHEDULE OF PROJECTED REVENUE AND EXPENDITURES
							
BOND RETIREMENT FUND - 2021 BOND ONLY

			2,024
	Calendar Year
	TOTAL
	2,025
	Calendar Year
	TOTAL
	TOTAL
	
Fund
	002
		45,292
	45,474
	CALENDAR YEAR 2,024
	45,658
	45,839
	CALENDAR YEAR 2,025
	FISCAL YEAR 2024/2025
	
BOND RETIREMENT EXPENDITURES (1)
	45,473
	45,657
		45,838
	46,022
			
(1)
			(2)
	(3)
		(4)
	(5)
			
EXPENDITURES

	2000
	Supporting Services - Fees
	34,000
	21,000
	55,000
	34,000
	21,000
	55,000
	55,000

6000 Repayment of Debt Service
								
	810
	6100 Repayment of Debt Principal
		1,910,000
	1,910,000
		1,985,000
	1,985,000
	1,910,000
	
	820
	6100 Repayment of Debt Interest
	1,073,066
	1,073,066
	2,146,131
	1,034,866
	1,034,866
	2,069,731
	2,107,931
	
	830
	6100 Debt Issuance Costs
			0
			0
	0
	
Total Repayment of Debt Service
	1,073,066
	2,983,066
	4,056,131
	1,034,866
	3,019,866
	4,054,731
	4,017,931

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
	1,107,066
	3,004,066
	4,111,131
	1,068,866
	3,040,866
	4,109,731
	4,072,931

										
Beginning Unencumbered Fund Balance
	1,621,647
	3,101,172
	1,621,647
	2,274,815
	3,803,854
	2,274,815
	3,101,172
	
Ending Cash Balance
	3,101,172
	2,274,815
	2,274,815
	3,803,854
	2,950,132
	2,950,132
	3,803,854

12/22/2023

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 7/1/2024
	Principal & Interest Due 7/1/2024
6/30/2025
	Amount Available from Other Sources 7/1/2024
6/30/2025
	Bonds and Notes Outstanding 1/1/2025
	Principal & Interest Due 1/1/2025
12/31/2025
	Amount Available from Other Sources 1/1/2025
12/31/2025

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

OUTSIDE 10 MILL LIMIT
											
School Construction School Construction
	November 2000 May 2021
	2016 2021
	12/1/2027 12/1/2051
	Serial Serial
	5% 4%
	$6,835,000 68,065,000
	$1,770,463 4,017,931
	1,201,620 4,752,274
	5,240,000 66,155,000
	1,815,588 4,054,731
	1,202,890 4,757,326
	
TOTAL OUTSIDE
						$74,900,000
	$5,788,394
	$5,953,894
	$71,395,000
	$5,870,319
	$5,960,215

*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	5,870,319