Logan-Hocking Local School District

1. Logan-Hocking Local School District Fiscal Year 2017 Fiscal Year End Financial Report Presented by: Paul F. Shaw CPA CGMA RSBFO – Treasurer August 7, 2017

2. Logan-Hocking Local School DistrictSummary of General Fund Revenues & ExpendituresFiscal Year 2017 Revenues Expenditures

3. Logan-Hocking Local School DistrictSummary of General Fund RevenuesFiscal Year 2017

4. Logan-Hocking Local School DistrictSummary of General Fund Expenditures & Year End Fund BalanceFiscal Year 2017

5. Logan-Hocking Local School DistrictFY 2016 vs. FY 2017

6. Logan-Hocking Local School DistrictVariations Analysis -FY 2017 Forecast (May 2017) vs. FY 2017 Actual

7. Logan-Hocking Local School DistrictGeneral Fund Historical Revenues & ExpendituresTwenty Year History • FY 2013 – First operating deficit in eighteen (18) years • 4 out of last 5 years operating in the red (deficit) • 18 out of last 22 years operating in the black (surplus) • Last local operating tax levy approved November 1981 (nearly 36 years ago!)

8. Logan-Hocking Local School DistrictLOCAL vs. STATE FUNDING, AS A PERCENTAGEHistorical Changes

9. Logan-Hocking Local School DistrictGeneral Fund Historical Revenues & Expenditures10 Year History

10. Logan-Hocking Local School DistrictNet Operating Surplus (Deficit)10 Year History

11. Logan-Hocking Local School DistrictSUMMARYFiscal Year 2017 • Operationally, General Fund expenditures for the year exceeded revenues by $415,979. The District ended the year with a carryover cash balance of $8,180,942. • FY 2017 operational revenues and operational expenditures increased modestly from FY 2016 (1.3%) and (2.6%) respectively. • Carryover General Fund balance represents 60 true days cash – a decrease of five days from FY2016 (still appropriate per GFOA and AOS guidelines).

12. Logan-Hocking Local School DistrictSUMMARYFiscal Year 2017 • Actual DEFICIT for FY 2017 of $432,403 was more than the forecasted deficit of ($316,587). The five-year financial forecast has been adjusted accordingly. • With frugal management and cooperation amongst stakeholders, the School District has operated in the black for eighteen out of the last twenty two years. However, operating deficits have occurred in four out of the last five years. • Reliance on local taxpayers for funding day to day operations has been reduced from 33% (1998) to 32% (2017). However, current legislative changes in the state’s school funding formula will more than likely result in greater reliance on local taxpayers for future school funding. • The last operating tax levy that was taken to and approved by local voters was in November 1981 – nearly thirty six years ago – almost unheard of in the State of Ohio! • With minimal increases in state funding forecasted into the future and a declining student enrollment, the School District faces tremendous challenges to break even financially. • School management/administration actively working to address financial challenges. Promising prospects are on the horizon.

13. Logan-Hocking Local School District Fiscal Year 2017 Questions Fiscal Year End Financial Report Presented by: Paul F. Shaw CPA CGMA RSBFO - Treasurer