TAX BUDGET FY2019
HAMILTON COUNTY, OHIO Office of the Board of Education Norwood City Schooll District January, 2018 To the County Auditor: The Board of Education of said School District, hereby submits its' annual budget for the year commencing July 1, 2018 for consideration of the County Budget Commission. President of the Board 1
2018 2019 TAX BUDGET General Fund Revenue Summary 6/30/2018 12/31/2018 2018 6/30/2019 12/31/2019 2019 2018/2019 (2) (3) (4) (5) 1100 Receipts from Property Taxes 1110 General Property Tax 7,301,115.85 6,905,690.78 14,206,806.63 7,400,934.01 7,029,936.98 14,430,870.99 14,306,624.79 1122 Public Utility Personal Property Tax 591,611.77 591,611.77 1,183,223.53 622,795.73 622,795.73 1,245,591.45 1,214,407.49 Total Taxes 7,892,727.61 7,497,302.55 15,390,030.16 8,023,729.73 7,652,732.71 15,676,462.44 15,521,032.28 3131-3133 Property Tax Allocation - RE 649,329.69 649,329.69 1,298,659.38 652,547.28 652,547.28 1,305,094.57 1,301,876.97 3135 State Tangible PP Reimbursement 0.00 0.00 0.00 0.00 0.00 0.00 0.00 Total Tax Reimbursement from State Sources 649,329.69 649,329.69 1,298,659.38 652,547.28 652,547.28 1,305,094.57 1,301,876.97 Receipts from Income Taxes & T.I.F. Income Tax 0.00 0.00 0.00 0.00 0.00 0.00 0.00 Tax Increment Financing Receipts 0.00 0.00 0.00 0.00 0.00 0.00 0.00 Total Income Taxes & T.I.F. Revenue 0.00 0.00 0.00 0.00 0.00 0.00 0.00 3000 Receipts from State Sources 3190 Unrestricted Grants-In-Aid 3,635,912.60 3,299,896.47 6,935,809.06 3,611,308.28 3,299,960.34 6,911,268.62 6,911,204.75 3134 State Electric Dereg Reimbursement 0.00 0.00 0.00 0.00 0.00 0.00 0.00 Restricted Grants-In-Aid 533,874.50 470,191.41 1,004,065.91 514,563.46 470,033.00 984,596.47 984,754.88 Other State Sources 0.00 0.00 0.00 0.00 0.00 0.00 0.00 Total State Resources 4,169,787.10 3,770,087.88 7,939,874.98 4,125,871.74 3,769,993.34 7,895,865.09 7,895,959.62 Receipts from Local Sources All Other Revenue 2,363,817.49 2,371,928.81 4,735,746.29 1,263,992.26 2,356,740.57 3,620,732.82 3,635,921.06 Receipts from Other Financing Sources Other Financing Sources 37,722.97 0.00 37,722.97 0.00 0.00 0.00 0.00 Total Revenue and Other Funding Sources 15,113,384.86 14,288,648.92 29,402,033.78 14,066,141.02 14,432,013.90 28,498,154.92 28,354,789.94 Should balance to the total revenue/receipts from the five-year forecast. 28,354,789.94 12/12/2017 2
SCHEDULE OF PROJECTED REVENUE AND EXPENDITURES - For Debt Activity Funded by Taxes BOND RETIREMENT FUND BOND RETIREMENT REVENUE (1) 6/30/2018 12/31/2018 2018 6/30/2019 12/31/2019 2019 2018/2019 REVENUES 1000 Receipts from Local Sources 1100 Taxes 1110 General Property Tax & PUPP 872,924.22 859,206.78 1,732,131.00 884,640.01 870,767.03 1,755,407.05 1,743,846.79 Total Taxes 872,924.22 859,206.78 1,732,131.00 884,640.01 870,767.03 1,755,407.05 1,743,846.79 3131-3133 Property Tax Allocation 75,410.66 75,410.66 150,821.31 75,410.66 75,410.66 150,821.31 150,821.31 3135 State Tangible Reimbursement 0.00 0.00 0.00 Total Tax Reimbursement from State Sources 75,410.66 75,410.66 150,821.31 75,410.66 75,410.66 150,821.31 150,821.31 1130 Income Tax 0.00 0.00 0.00 0.00 0.00 0.00 0.00 1190 Other Receipts (Local Taxes) 0.00 0.00 0.00 0.00 0.00 0.00 0.00 Total Income and Local Taxes 0.00 0.00 0.00 0.00 0.00 0.00 0.00 Total Taxes 948,334.88 934,617.43 1,882,952.31 960,050.67 946,177.69 1,906,228.36 1,894,668.10 1200-1800 Other Receipts-Local Sources 0.00 0.00 0.00 0.00 0.00 0.00 0.00 1880 Tax Increment Financing 0.00 0.00 0.00 0.00 0.00 0.00 0.00 1910 Prem. & Acc. Int. on Bonds & Notes 0.00 0.00 0.00 0.00 0.00 0.00 0.00 1920 Sale of Bonds- Refunding 0.00 0.00 0.00 0.00 0.00 0.00 0.00 1940 Proceeds from Sale of Notes 0.00 0.00 0.00 0.00 0.00 0.00 0.00 Total of Other Revenue Sources 0.00 0.00 0.00 0.00 0.00 0.00 0.00 Total Receipts from Local Sources 948,334.88 934,617.43 1,882,952.31 960,050.67 946,177.69 1,906,228.36 1,894,668.10 2000 Receipts from Intermediate Sources 0.00 0.00 0.00 0.00 0.00 0.00 0.00 3000 Receipts from State Sources 0.00 0.00 0.00 0.00 0.00 0.00 0.00 3190 Other Unrestricted 0.00 0.00 0.00 0.00 0.00 0.00 0.00 Total Revenue from State Sources 0.00 0.00 0.00 0.00 0.00 0.00 0.00 4000 Revenue from Federal Sources 0.00 0.00 0.00 0.00 0.00 0.00 0.00 5000 Other Revenue Sources 0.00 0.00 0.00 0.00 0.00 0.00 0.00 Total Revenue 948,334.88 934,617.43 1,882,952.31 960,050.67 946,177.69 1,906,228.36 1,894,668.10 3 12/12/2017
SCHEDULE OF PROJECTED REVENUE AND EXPENDITURES BOND RETIREMENT FUND BOND RETIREMENT EXPENDITURES (1) 6/30/2018 12/31/2018 2018 6/30/2019 12/31/2019 2019 2018/2019 EXPENDITURES 2000 Supporting Services - Fees 0.00 0.00 0.00 6000 Repayment of Debt Service 6100 Repayment of Debt Principal 0.00 485,000.00 485,000.00 0.00 520,000.00 520,000.00 485,000.00 6100 Repayment of Debt Interest 643,637.50 643,637.50 1,287,275.00 635,187.50 635,187.50 1,270,375.00 1,278,825.00 6100 Debt Issuance Costs 0.00 0.00 0.00 Total Repayment of Debt Service 643,637.50 1,128,637.50 1,772,275.00 635,187.50 1,155,187.50 1,790,375.00 1,763,825.00 7000 Other Debt Service Other Debt Service 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 Total Other Debt Service 0.00 0.00 0.00 0.00 0.00 0.00 0.00 Total Expenditures 643,637.50 1,128,637.50 1,772,275.00 635,187.50 1,155,187.50 1,790,375.00 1,763,825.00 Note: Cash Balance Include Interest Only Premium Beginning Unencumbered Fund Balance 1,352,900.50 1,657,597.88 1,352,900.50 1,463,577.81 1,788,440.98 1,463,577.81 1,657,597.88 Ending Cash Balance 1,657,597.88 1,463,577.81 1,463,577.81 1,788,440.98 1,579,431.17 1,579,431.17 1,788,440.98 4 12/12/2017
SCHEDULE OF PROJECTED REVENUE AND EXPENDITURES PERMANENT IMPROVEMENT FUND (ONLY IF TAX GENERATING FUND) PERMANENT IMPROVEMENT REVENUE 6/30/2018 12/31/2018 2018 6/30/2019 12/31/2019 2019 2018/2019 REVENUES 1000 Receipts from Local Sources 1100 Taxes 1110 General Property Tax 471,501.79 464,099.78 935,601.57 477,195.75 469,720.62 946,916.36 941,295.52 Total Taxes 471,501.79 464,099.78 935,601.57 477,195.75 469,720.62 946,916.36 941,295.52 3131-3133 Property Tax Allocation 0.00 0.00 0.00 0.00 0.00 0.00 0.00 3135 State Tangible Reimbursement 0.00 0.00 0.00 0.00 0.00 0.00 0.00 Total Tax Reimbursements from State Sources 0.00 0.00 0.00 0.00 0.00 0.00 0.00 1130 Income Tax 0.00 0.00 0.00 0.00 0.00 0.00 0.00 1190 Other Receipts (Local Taxes) 0.00 0.00 0.00 0.00 0.00 0.00 0.00 Other Total Local Taxes 0.00 0.00 0.00 0.00 0.00 0.00 0.00 1200-1800 Other Receipts-Local Sources 0.00 0.00 0.00 0.00 0.00 0.00 0.00 1880 Tax Increment Financing 0.00 0.00 0.00 0.00 0.00 0.00 0.00 1900 Other Revenue Sources 0.00 0.00 0.00 0.00 0.00 0.00 0.00 Total of Other Revenue Sources 0.00 0.00 0.00 0.00 0.00 0.00 0.00 2000 Receipts from Intermediate Sources 0.00 0.00 0.00 0.00 0.00 0.00 0.00 3000 Receipts from State Sources 0.00 0.00 0.00 0.00 0.00 0.00 0.00 3190 Other Unrestricted 0.00 0.00 0.00 0.00 0.00 0.00 0.00 4000 Revenue from Federal Sources 0.00 0.00 0.00 0.00 0.00 0.00 0.00 5000 Other Revenue Sources 0.00 0.00 0.00 0.00 0.00 0.00 0.00 Total Revenue 471,501.79 464,099.78 935,601.57 477,195.75 469,720.62 946,916.36 941,295.52 SCHEDULE OF PROJECTED REVENUE AND EXPENDITURES PERMANENT IMPROVEMENT FUND (ONLY IF TAX GENERATING FUND) PERMANENT IMPROVEMENT EXPENDITURES 6/30/2018 12/31/2018 2018 6/30/2019 12/31/2019 2019 2018/2019 EXPENDITURES 1000 Instruction 0.00 0.00 0.00 0.00 0.00 0.00 0.00 2000 Supporting Services 0.00 0.00 0.00 0.00 0.00 0.00 0.00 3000 Non Instructional Services 0.00 0.00 0.00 0.00 0.00 0.00 0.00 4000 Extracurricular Activities 0.00 0.00 0.00 0.00 0.00 0.00 0.00 5000 Facilities Acquisition and Construction 0.00 0.00 0.00 1,000,000.00 1,000,000.00 2,000,000.00 1,000,000.00 6000 Debt 0.00 0.00 0.00 0.00 0.00 0.00 0.00 7000 Other Uses of Funds Total Expenditures 0.00 0.00 0.00 1,000,000.00 1,000,000.00 2,000,000.00 1,000,000.00 Note: District is at beginning of Construction Project Beginning Unencumbered Fund Balance 515,343.86 986,845.65 515,343.86 1,450,945.43 928,141.18 1,450,945.43 986,845.65 Ending Cash Balance 986,845.65 1,450,945.43 1,450,945.43 928,141.18 397,861.79 397,861.79 928,141.18 5 12/12/2017
Schedule of Bond Payments Principal and Interest Principal and Interest Authority Requirements Requirements PURPOSE OF for Levy Date Serial Rate Fiscal Year Calendar Year BONDS AND Outside of Date or of Bonds and Principal & Amount Bonds and Principal & Amount NOTES 10 Mill Issue Due Term Interest Notes Interest Available from Notes Interest Available from Limit* Outstanding Due Other Sources Outstanding Due Other Sources 7/1/2018 7/1/2018 7/1/2018 1/1/2019 1/1/2019 1/1/2019 6/30/2019 6/30/2019 12/31/2019 12/31/2019 General Obligation 2017 - A Voted Bond 4/27/2017 11/1/2051 Var 23,590,000 1,408,800 0 8,018,200 1,431,600 0 2017 - B Voted Bond 4/27/2017 11/1/2051 Var 5,985,000 355,025 0 5,860,000 358,775 0 TOTAL INSIDE $29,575,000 $1,763,825 $0 $13,878,200 $1,790,375 $0 OUTSIDE 10 MILL LIMIT TOTAL OUTSIDE $0 $0 $0 $0 $0 $0 *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 1,790,375 6