These forecasts are living documents that are used as planning tools for school districts and communities. They are a five-year projection of school district operational revenues and expenditures, which are based upon a snap shot of today that has been adjusted to reflect all known activities of the future along with certain assumptions and predictions of what may happen.
O.R.C. §5705.391 and O.A.C. 3301-92-04 require a Board of Education (BOE) to submit a five-year projection of operational revenues and expenditures along with assumptions to the Department of Education prior to October 31 of each fiscal year and to update this forecast between April 1 and May 31 of each fiscal year. ODE encourages school districts to update their forecast whenever events take place that will significantly change the forecast.Required funds to be included in the forecast are:
General funds (001)
Any special cost center associated with general fund money
Emergency levy funds (016)
Any debt service (002) activity that would otherwise have gone to the general fund
Disadvantaged Pupil Impact Aid (DPIA) funds (447)
Poverty Based Assistance (PBA) funds (494)