The January 2018 forecast-5 shows a $21M deficit an updated one received in October 2018 shows $26M.
On October 19 I received a response to a FOIA about district financials:
On October 9, 2018, you requested the following documents:
Please provide ALL documents that show any changes to the 5-year budget that was approved August 15, 2018 or any other documents that show how you plan to balance the budget.
Your request is granted. Please see attached document. (below)
I had sent an update to the request later on Oct 9:
be sure to include the latest forecast-5 summarysee attached screenshot from 1/31/2018 presentation.
and included a forecast-5 chart from page 15 of the January 2018 PMA presentation
Notice:
- on page 13, it includes funds for Jefferson
- On page 15 the sum for years 2019 to 2023 of “Surplus / Deficit Incl Other Fin Sources” is -$20,736,934 or a $21M deficit of the next 5 years based on the January 2018 report. Since then, a new teacher contract and administrator contracts that are more generous than originally assumed, have been signed.
- on page 16, the low point for fund balances is negative in FY-2020.
I copied the data from the Oct 2018 forecast-5 chart into excel and highlighted cells that changed since the January 2018 version. Also added a column “Sum of Row” which is a total for years 2019 to 2023. The most important one is “Surplus / Deficit Incl Other Fin Sources” which shows a total 5-year deficit of $26,011,650 in the October 2018 forecast.
Note: the districts fiscal year (FY) runs July 1 to June 30. Property taxes are due in June and September. As a result the low point for cash on hand is end of May. District 200 has been running around $15M cash on hand at the end of May. That will NOT cover a $26M deficit.
