5-Year Forecast Shows $21M or $26M deficit

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)

forecast5 10.19.1

I had sent an update to the request later on Oct 9:
be sure to include the latest forecast-5 summary
see 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.
oct2018 forcast5 highlighted
 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.

So yes, while “Jefferson is in the budget,” D200 does not have the funds in reserve to cover their planned deficit.

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