About School District Five-Year Financial Forecasts
A school district's five-year financial forecast is viewed as a key management tool and must be updated periodically. In Ohio, most school districts understand how they will manage their finances in the current year. The five-year financial forecast encourages district management teams to examine future years’ projections and identify when challenges will arise. This then helps district management to be proactive in meeting those challenges. School districts are encouraged to update their five-year financial forecasts with the Ohio Department of Education (ODE) when events take place that will significantly change their forecast or, at a minimum, when required under statute.
Financial Forecasts 101
What is a School District Financial Forecast?
“A forecast is somewhat like a painting of the future based upon a snapshot of today..."
Purposes & Objectives of Five-Year Financial Forecasts
There are three purposes or objectives of the five-year forecast.
Ohio Revised Code & Ohio Administrative Code Requirements
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
The following definitions will assist readers as they read the assumptions of the forecast or take part in discussions about the forecast.
Find a Five-Year Financial Forecast for Any Ohio District
Want to compare us to other school districts? Follow this link to ODE's website.
Contact Pickerington Schools Treasurer/Chief Fiscal Officer Ryan Jenkins with any questions you may have.