TIPP CITY — The Tipp City Exempted Village Board of Education approved the November five-year forecast for the district during its meeting on Monday evening.
Treasurer David Stevens said healthcare increases were anticipated to be 26 percent, but they have changed to a 16 percent increase through changing healthcare providers and brokerage firms. Stevens said they expect an 8 percent increase in fiscal year 2022 and a 12 percent increase in both 2023 and 2024.
Also noted in the five-year forecast:
• The district’s ending 2020 cash balance is 4.32 percent higher than projected on the May 2019 five-year forecast.
• Fiscal year 2020 is the only budget that reflects a positive cash flow as expenditures are in line with budgets this year.
• Beginning in fiscal year 2021, the district’s expenditures exceed estimated revenues due to compounding increases in personal services and benefit expenses
• The district will continue to see its cash balances decrease beginning in fiscal year 2021 as is the case with a normal levy cycle.
The five-year forecast notes that the state budget represents approximately 37.6 percent of the district’s revenues. The forecast also notes that state legislation for fiscal year 2020-2021 has frozen funding for all school districts in Ohio at the fiscal year 2019 level, with the exception of Enrollment Growth Supplement money for a small number of growing districts. Those funds are not included in the general fund, so they were not included in the five-year forecast. The forecast will be adjusted in the future once more data is available.
Stevens said the district consulted with the Miami County Auditor as a full reappraisal occurred in 2019 for property tax collection in 2020, and they are estimating an increase of 20 percent of property values for commercial and residential properties.
“We’re using the latest estimates,” Stevens said.
The total revenues for fiscal year 2019 were $26,556,054; the total revenues and other financing sources were $27,091,197; the total expenditures were $26,849,126; and the general fund balance was $14,936,672, according to the five-year forecast.
Total revenues and other finance sources are projected to be approximately $27.5 million in fiscal year 2020, $27.3 million in 2021, $27.4 million in 2022, $27.4 million in 2023, and $27.5 million in 2024.
Total expenditures are projected to be approximately $26.8 million in fiscal year 2020, $27.8 million in 2021, $29.1 million in 2022, $30.6 million in 2023, and $32.2 million in 2024.
The district’s general fund balance is projected to be approximately $15.1 million in fiscal year 2020, $14.2 million in 2021, $12 million in 2022, $8.3 million in 2023, and $3.2 million in 2024.
Also during its meeting, the board approved a transfer of $15,000 from the general fund to the wellness incentive fund. Stevens said this amount came from a rebate from the Bureau of Workers Comp.
The board then accepted $240 in grant dollars from STEAM Boosters.
The board also approved the donation of $75,000, which was the annual disbursement for the district’s partnership between Tipp City Schools and Premier Health/Upper Valley Medical Center (UVMC).
Board member Theresa Dunaway spoke about concerns regarding the stadium project and wanting more information from the Tipp Pride Association regarding its fundraising. A community member also spoke during public comment with similar concerns about funding for the stadium improvements.
Following that, the board accepted additional estate distributions from the Josef Barnhart Estate and family, bringing the total to $59,364.85 donated to Tippecanoe High School.
The board then accepted the donation of $500 from 1-888-OHIOCOMP for the purchase of student basic needs as deemed appropriate by administration.
The board also recognized the Tippecanoe High School boys soccer team on its Division II state championship win against Warren Howland.
The board ended their meeting by going into executive session to consider the investigation of charges or complaints against a public employee or official and to consider matters required to be kept confidential by federal law or regulations or state statutes.
The board will meet for a special meeting on Dec. 11 at 6 p.m. at the board’s office, located at 90 S. Tippecanoe Drive, Tipp City. The board will then meet again on Dec. 16 at 6 p.m. for its regular meeting and on Jan. 6 at 6 p.m. for an organizational meeting.
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