Five Year Forecasting

Ohio Revised Code 5705.391, amended in 1997 requires school districts to file a Five Year Forecast for the General fund with the Ohio Department of Education. Ohio School districts are the ONLY governmental entity in Ohio which is required to provide or attempt to forecast revenues and expenditures for a five (5) year period. For instance the state of Ohio only estimates it budget for a 2 year biennium period. Springfield City Schools gets roughly 70% of operating funds from the state of Ohio. It is clear that projecting district resources for five (5) years would be a daunting challenge even in a stable economy, but adding in the recent difficulty along with the fact that the state of Ohio, the major provider of our operating resources, only projects out two (2) years at a time and it becomes extremely challenging. Never the less the board and Administration work closely for months at a time and on an ongoing basis to estimate project and adjust forecasted revenues and expenditures in its five (5) year forecast.  

The five (5) year forecast must be filed with the Ohio Department of Education by October 31, and May 31, in each of the districts fiscal year’s (school district fiscal years are July 1, through June 30) end June 30th . Current school district five (5) year forecasts are available for all school districts in Ohio at Ohio Department of Education.