Miami Trace Local School District Fayette County Schedule of Revenues, Expenditures and Changes in Fund Balances For the Fiscal Years Ended June 30, 2014, 2015 and 2016 Actual; Forecasted Fiscal Years Ending June 30, 2017 Through 2021 Actual Forecasted Fiscal Year Fiscal Year Fiscal Year Average Fiscal Year Fiscal Year Fiscal Year Fiscal Year Fiscal Year 2014 2015 2016 Change 2017 2018 2019 2020 2021 Revenues 1.010 General Property Tax (Real Estate) $11,592,585 $11,528,048 $12,538,508 4.1% $13,163,480 $11,791,465 $11,099,088 $11,219,755 $11,219,755 1.020 Tangible Personal Property Tax 428 1.030 Income Tax 1.035 Unrestricted State GrantsinAid 9,453,525 9,441,360 10,587,508 6.0% $11,286,746 10,987,943 10,965,843 10,965,843 10,965,843 1.040 Restricted State GrantsinAid 317,062 359,549 394,333 11.5% $331,403 356,600 362,447 362,447 362,447 1.045 Restricted Federal GrantsinAid SFSF 1.050 Property Tax Allocation 1,164,889 1,163,370 1,260,801 4.1% $1,396,418 1,320,370 1,216,434 1,234,454 1,234,454 1.060 All Other Revenues 3,083,786 3,334,391 3,101,270 0.6% $3,344,461 3,097,697 3,135,378 3,135,378 3,135,378 1.070 Total Revenues 25,612,275 25,826,718 27,882,420 4.4% 29,522,509 27,554,075 26,779,189 26,917,877 26,917,877 Other Financing Sources 2.010 Proceeds from Sale of Notes 2.020 State Emergency Loans and Advancements (Approved) 2.040 Operating TransfersIn 762,546 57,578 10,607 87.0% 102,000 82,004 98,422 38,744 6,934 2.050 AdvancesIn 20,843 2.060 All Other Financing Sources 72,542 87,788 59,178 5.8% 20,000 20,000 20,000 20,000 20,000 2.070 Total Other Financing Sources 835,088 145,366 90,628 60.1% 122,000 102,004 118,422 58,744 26,934 2.080 Total Revenues and Other Financing Sources 26,447,363 25,972,084 27,973,048 3.0% 29,644,509 27,656,079 26,897,611 26,976,621 26,944,811 Expenditures 3.010 Personal Services 12,510,988 12,876,042 13,149,621 2.5% 13,912,216 14,135,642 14,338,066 14,476,298 14,580,300 3.020 Employees' Retirement/Insurance Benefits 4,810,605 5,843,229 5,885,686 11.1% 5,926,780 6,300,099 6,350,094 6,360,696 6,349,472 3.030 Purchased Services 3,684,275 3,755,456 4,014,034 4.4% 3,994,619 4,074,512 4,156,002 4,239,122 4,323,904 3.040 Supplies and Materials 1,179,871 1,137,072 1,161,221 0.8% 1,180,009 1,203,609 1,227,681 1,252,235 1,277,279 3.050 Capital Outlay 516,371 347,690 461,713 0.1% 634,247 646,932 659,871 673,068 686,530 3.060 Intergovernmental Debt Service: 4.010 PrincipalAll (Historical Only) 4.020 PrincipalNotes 4.030 PrincipalState Loans 4.040 PrincipalState Advancements 4.050 PrincipalHB 264 Loans 4.055 PrincipalOther 4.060 Interest and Fiscal Charges 4.300 Other Objects 479,405 466,855 523,190 4.7% 481,210 454,900 430,834 430,834 430,834 4.500 Total Expenditures 23,181,515 24,426,344 25,195,465 4.3% 26,129,082 26,815,694 27,162,548 27,432,253 27,648,319 Other Financing Uses 5.010 Operating TransfersOut 1,805,546 103,476 1,326,832 544.0% 1,102,000 222,004 238,422 178,744 146,934 5.020 AdvancesOut 20,843 5.030 All Other Financing Uses 818 1,202 904 11.1% 16,736 5.040 Total Other Financing Uses 1,806,364 125,521 1,327,736 432.4% 1,118,736 222,004 238,422 178,744 146,934 5.050 Total Expenditures and Other Financing Uses 24,987,879 24,551,865 26,523,201 3.1% 27,247,818 27,037,699 27,400,970 27,610,998 27,795,254 1 of 38
Actual Forecasted Fiscal Year Fiscal Year Fiscal Year Average Fiscal Year Fiscal Year Fiscal Year Fiscal Year Fiscal Year 2014 2015 2016 Change 2017 2018 2019 2020 2021 6.010 Excess of Revenues and Other Financing Sources over (under) Expenditures and Other Financing Uses 1,459,484 1,420,219 1,449,847 0.3% 2,396,691 618,381 503,359 634,377 850,443 7.010 Cash Balance July 1 Excluding Proposed Renewal/Replacement and New Levies 7,969,553 9,429,037 10,849,256 16.7% 12,299,103 14,695,794 15,314,175 14,810,816 14,176,439 7.020 Cash Balance June 30 9,429,037 10,849,256 12,299,103 14.2% 14,695,794 15,314,175 14,810,816 14,176,439 13,325,996 8.010 Estimated Encumbrances June 30 987,824 1,050,341 1,143,290 7.6% 1,143,290 1,143,290 1,143,290 1,143,290 1,143,290 Reservation of Fund Balance 9.010 Textbooks and Instructional Materials 9.020 Capital Improvements 9.030 Budget Reserve 9.040 DPIA 9.045 Fiscal Stabilization 459,497 1,222,535 1,280,419 85.4% 1,394,121 1,476,125 1,377,704 1,338,959 1,345,894 9.050 Debt Service 9.060 Property Tax Advances 9.070 Bus Purchases 9.080 Subtotal 459,497 1,222,535 1,280,419 85.4% 1,394,121 1,476,125 1,377,704 1,338,959 1,345,894 10.010 Fund Balance June 30 for Certification of Appropriations 7,981,716 8,576,380 9,875,394 11.3% 12,158,383 12,694,759 12,289,822 11,694,189 10,836,812 Revenue from Replacement/Renewal Levies 11.010 Income Tax Renewal 11.020 Property Tax Renewal or Replacement 1,401,428 2,340,000 2,340,000 2,340,000 11.300 Cumulative Balance of Replacement/Renewal Levies 1,401,428 3,741,428 6,081,428 8,421,428 12.010 Fund Balance June 30 for Certification of Contracts, Salary Schedules and Other Obligations 7,981,716 8,576,380 9,875,394 11.3% 12,158,383 14,096,187 16,031,250 17,775,617 19,258,240 Revenue from New Levies 13.010 Income Tax New 13.020 Property Tax New 13.030 Cumulative Balance of New Levies 14.010 Revenue from Future State Advancements 15.010 Unreserved Fund Balance June 30 7,981,716 8,576,380 9,875,394 11.3% 12,158,383 14,096,187 16,031,250 17,775,617 19,258,240 See accompanying summary of significant forecast assumptions and accounting policies Includes: General fund, Emergency Levy fund 2 of 38
ASSUMPTIONS & EXPLANATIONS TO 5YEAR FORECAST Revenues 1.010 General Property Tax (Real Estate) Estimated revenues include real estate and public utility personal property (PUPP). Estimated are based on information from county auditors, Ohio Department of Taxation, and historical growth patterns, including scheduled updates and reappraisals. The Miami Trace Local School District is located in a rural community in six counties: Fayette, Pickaway, Clinton, Madison, Highland, and Ross. The district is comprised of 401 square miles. See Exhibits A1 through A5 for estimated tax calculations for each fiscal year. See Exhibit B for property values by class, millage rates, collection amounts and percentages. See Exhibit C for county property values, annual percentage changes and schedule of reappraisals and updates. See Exhibits D & D1 for property class percentage changes and forecasted percentage changes. The Fayette County Auditor provided estimated TY2016 property values for Fayette County on. These values plus the TY2015 values for the other counties are utilized in this forecast. The estimated amounts also include estimated tax receipts from expired tax exemption agreements. See Exhibit E. Taxes are paid in arrears. For example, taxes based on calendar year 2014 property values are paid in calendar year 2015. A fiscal year begins July 1 and continues through June 30. Each fiscalyear s tax revenue is received from two different calendar (tax) years. In November of 2011, a $2,400,000 5year renewal emergency operating levy passed. This levy is effective January 1, 2012, and expires December 31, 2016. Revenue collection affects FY13 (halfyear) through FY18 (halfyear). If the board wishes to renew this levy and not experience a loss of revenue in any fiscal year, it will have to pass the levy in 2017. Agricultural property represents 47% of total property valuation based on TY2015 & estimated TY2016 property values. In tax year 2013, agricultural property was 35% of total property valuation. The 12% increase over two years is due to significant increases in CAUV (current agricultural use valuation) property in tax year 2014 for Clinton (38%), Madison (70%) and Pickaway (88%) Counties and again in tax year 2015 for Fayette (67%) and Highland (102%) Counties. As a result, total agricultural property valuation has increased 67% since tax year 2013. (See Exhibit D1.) Prior forecasts for FY14 and FY15 included notes regarding a second pipeline expected to be added to the district s valuation. On May 14, 2015, the district was notified by Representative Gary Scherer that the pipeline will not produce tax revenue because of the nature of its contents and taxation laws. Representative Scherer stated that he plans to propose legislation to change the language so the property would be taxable. As of the date of this forecast, no update has been provided. 3 of 38
1.020 Tangible Personal Property Tax Tangible personal property tax has been eliminated. Per the Fayette County Auditor, any revenues received will be for lost appeals or catchup settlements which are adjustments for past years. There is no basis available for projection. 1.030 Income Tax None. 1.035 Unrestricted State GrantsinAid (State Funding) This category includes casino tax revenues and general state funding provided by a formula. The formula funding follows HB64 and is effective for fiscal years 2016 and 2017. See Exhibit F for FY17 funding calculations. The estimate for FY17 is based on the October #2 School Funding Payment Report (SFPR) and estimated data. Casino tax revenues began in FY13 with FY14 being the first full fiscal year of revenues. The district received $129,335 in FY14, $128,718 in FY15 and $120,739 in FY16. This forecast assumes the FY16 amount for FY17FY20. Forecasting state funding is difficult because Ohio operates on a 2year (biennial) state budget that is approved by the state legislature and the governor. Because of political and economic influences, changes may occur every 2 years. As of the date of this forecast, there is no information available as to the content of the next budget for FY18 and FY19. Therefore, assumptions are made based on historical funding, recommendations from ODE personnel and the recently released 20182019 Biennial Budget Discussion & Guidance developed by the OASBO Legislative and Education Finance Committees with participation by OSBA, BASA and Dr. Howard Fleeter, consultant for the Ohio Education Policy Institute (OEPI).. Ohio public schools are funded from two main sources local tax revenue and state funding. The general concept is that the more a district receives locally, the less help it needs from the state. As the property valuation and local tax revenues increase, it is expected that a reduction in state funding will occur. However, this has not always been the case due to a funding guarantee in the state s formula. In general, the guarantee provides a district at least the same amount of state revenue, or a percentage thereof, as it received in the prior fiscal year. Miami Trace has benefited from the guarantee. Prior to the current state budget, the district received $1,414,409 in guarantee funding during FY14 and FY15 (combined). Guarantee funds were not received in FY16 and are not forecasted for FY17 because updated property valuations are not utilized in the formula for FY17. However, as noted in the real estate notes above, Miami Trace has experienced a material increase in property valuation. As a result, this forecast assumes that once the updated valuations and other current information are incorporated in the next funding formula, Miami Trace will once again benefit from a funding guarantee. Historically, there have been discussions and attempts to reduce and even eliminate the funding guarantee. However, there hasn t been enough legislative support for elimination. Therefore, this forecast does not assume an elimination of the guarantee but does assume a conservative 5% reduction for the next biennium budget. In addition, this forecast assumes a reasonable $100 increase in the base per pupil amount and a 2% funding increase in the factors for K3 literacy, economic disadvantaged, limited English proficiency, gifted, special education and career tech for both FY18 and FY19. See Exhibits G and H for FY18 and FY19 funding estimates. See Exhibit I for historical ADM and enrollment information and Exhibits B, C or D for property valuations. 4 of 38
1.040 Restricted State GrantsinAid (State Funding) This category includes state funding that is restricted for specific purposes, specifically careertech and economic disadvantaged funding. This forecast includes actual and forecasted expenditures that exceed the restricted revenue amounts. The district has a marketing program and also has Great Oaks JVS satellite programs for vocational agriculture, family and consumer science, careerbased intervention and technical educational. The district receives full funding for its marketing program and partial funding (20%) for its students participating in the satellite programs. Economic disadvantaged funding may be utilized in any of the following categories: (1) extended school day and school year, (2) reading improvement and intervention, (3) instructional technology or blended learning, (4) professional development in reading instruction for teachers of students in K3 grades, (5) dropout prevention, (6) school safety and security measures, (7) community learning centers that address barriers to learning, (8) academic interventions for students in grades 612. 1.045 Restricted Federal GrantsinAid None. 1.050 Property Tax Allocation This category includes payments for homestead exemption and real property rollback tax credits that are paid by the State of Ohio. The rollbacks and exemption are forms of property tax relief. Rollbacks include the 10% rollback applicable to nonbusiness property and the 2.5% rollback for owneroccupied residential property and agricultural property on which there is an owneroccupied home site. The homestead exemption may be applicable for agequalifying individuals who currently live in their home as their primary residence. These reimbursements are not affected by delinquencies. The amounts are paid by the state as charged in full. Per HB59 passed in 2013, the rollback tax credits are no longer applicable for new levies approved in November 2013 and thereafter, and the homestead exemption has stricter qualifications. See Exhibits A1 through A5 for calculations of each fiscal year for homestead and rollback. See Exhibit B for property values by class, millage rates, collection amounts and percentages. See Exhibit C for county property values, annual percentage changes and schedule of reappraisals and updates. See Exhibits D and D1 for property class percentage changes and forecasted percentage changes. 5 of 38
1.060 All Other Revenues This category includes the following: Manufactured Homes Taxes Wildlife Land Use Taxes Tuition (regular, special education, catastrophic, vocational, open enrollment, summer school) Interest Class Fees (suspended FY15) Student Activity Transportation Reimbursements Rentals of property Donations Commissions Compensation for Property Tax Exemptions (See Exhibit J.) Compensation for Loss of Assets & Insurance Proceeds Receipts from Intermediate Sources Miscellaneous Other The majority of revenues (3year average of 72%) received in this category are from open enrollment and tuition from other districts for regular and special education. Because of the increase in base per pupil funding from the state, revenues for FY17 are expected to increase 1.7%. In addition, as explained in the notes for Line 1.035, this forecast assumes that there will be another increase in the base per pupil funding in the next budget. Therefore, a 1.6% increase in revenues for tuition and open enrollment is forecasted for FY18 and FY19. An annual percentage increase for FY20 and FY21 is not forecasted. Another major source of revenue (3year average of 12%) for this category is compensation for property tax exemptions. This forecast assumes an annual increase based on the forecasted property valuation increases. The special education excess cost tuition for a school year is typically received in the spring of the succeeding fiscal year. The tuition amount for FY15 ($282,043) was not received in FY16. It was received in July of 2016 (FY17). Therefore, FY17 includes two years of special education excess cost tuition (FY15 and FY16). 2.010 Proceeds from Sale of Notes None. 2.020 State Emergency Loans and Advancements None. 6 of 38
2.040 Operating TransfersIn In September of 2013, the board of education passed a motion to maintain a reservation of fund balance for fiscal stabilization pursuant to O.R.C. Section 5705.15 equal to 5% of prior fiscal year general fund revenues (excluding other financing sources). The reservation total includes the Budget Reserve Fund 001/9991 and the Budget Reserve Health Insurance Fund 001/9108. The transferout is included on Line 5.010. Forecasted amounts reflect changes for future funding levels in the budget reserve and do not assume the renewal of the $2.4 million emergency operating levy. See explanations for Line 5.010 Operating TransfersOut and Line 9.045 Reservation of Fund Balances. 2.050 AdvancesIn The FY15 advance ($20,843.10) to the FFA Farm Fund was repaid in FY16. No other advances are forecasted. 2.060 All Other Financing Sources This category includes sale of property and refund of prior year s expenditures. Both categories of revenue are unpredictable and inconsistent. Prior year refunds of expenditure include payments from the Bureau of Workers Compensation for rebates and/or participation in the group retrospective plan for refunds of premium. EXPENDITURES 3.010 Personal Services (See Exhibit K.) This category includes an estimate of salaries and wages per the current salary schedules for bargaining and nonbargaining employees, including changes due to forecasted retirements and personnel changes. Current bargaining unit agreements with the Miami Trace Education Association and the Miami Trace NonCertified Employees Association expire June 30, 2017. FY17 salaries and wages are based on the boardapproved salary and wage schedules. FY18 through FY21 include forecasted step increases for staff but do not include a percentage increase on any base salaries or wage rates. The primary reasons for changes in personal services from one year to the next are step and percentage increases on the base salaries, changes in staffing levels and retirements. When analyzing the changes in personal services, it is important to understand the effect retirements can have on total salaries and wages. Retirements increase total personal services in the year of retirement for contract payouts and decrease total personal services in the succeeding fiscal year. Retiring staff members typically have much higher salaries and wages than the new staff members filling the vacated positions. The changes in personal services from FY14 to the forecasted amount in FY17 are as follows: $365,854 from FY14 to FY15, $273,579 from FY15 to FY16 and $762,595 from FY16 to FY17. On the surface, it appears that a material change occurred from FY16 to FY17. However, the material change occurred from FY15 to FY16 due to retirements. During the past three years, 24 staff members have retired, and the majority (14) of those occurred in FY15. At the end of FY15, the district expended $119,209 for accrued wages for the retiring staff, and the following fiscal year (FY16) experienced savings of $281,766 as a result of the changes in staff. Without those retirements, the change in personal services would have been as follows: $243,845 from FY14 to FY15 and $793,763 from FY15 to FY16. 7 of 38
This forecast assumes a material decrease in the number of retirements as compared to the past three (3) years. Thus, the forecasted increase in personal services from FY16 to FY17 exceeds the changes in FY14FY16. Effective FY19, two fulltime custodial positions have been added based on forecasted needs for the new high school, which is expected to open in FY19. 3.020 Employees Retirement/Insurance Benefits (See Exhibit L.) This category includes the following legally mandated, negotiated and boardapproved benefits: Retirement STRS & SERS Surcharge SERS Medicare Workers Compensation Insurances Health, Dental, Life Unemployment Compensation Tuition Reimbursement Tool Allowance for Bus Mechanics Other Staff Relations There is a substantial increase in total benefits from FY14 to FY15. The major reasons for the increase were as follows: a) The district experienced onemonth moratoriums for health insurance premiums in both FY13 and FY14. Therefore, the benefit amounts only reflect 11 months of health premium expenditures. Beginning with FY15, 12 months of health insurance premiums were included. b) The district experienced a 20% increase in health insurance premiums beginning with FY15. c) The health insurance increase for FY16 was 7%. Because the district pays premiums in advance, there is one month s premium with the increase included for FY15. d) Due to the 2% increase in salaries and wages for FY15, retirement benefits increased. e) The workers compensation premium increased over 48% ($35,035). f) Retirements increased resulting in an increase of over 252% ($168,628) in accumulated leave severance payments. There is not a material increase in the forecasted amount for benefits in FY17 as compared to FY16. Due to the establishment of a retirement and severance fund in FY16, severance payments for retiring staff are no longer expended from the general fund. In addition, the district did not experience an increase in health, dental or life insurance premiums for FY17. A savings in health insurance for retiring staff that receive a 100% boardpaid benefit for health insurance is assumed in this forecast. There are currently 18 staff members still receiving this grandfathered benefit. 8 of 38
Health insurance benefits represent the majority of the expenditures for employees benefits. The following information was considered to forecast the expenditure: a) Assumed percentage increases for insurance benefits are based on language in the bargaining unit agreements, current trends, historical analysis and the Affordable Care Act regulations regarding cost of coverage to avoid an excise tax. b) According to the Affordable Health Care Act, a 40 percent excise tax will be imposed on the cost of coverage for health plans that exceed a certain annual limit beginning in 2020. Currently, the estimated thresholds are $10,200 for individual coverage and $27,500 for family coverage. The thresholds may be increased depending on actual medical inflation prior to 2020 and other factors. The district would be responsible for paying the tax on any dollar amount beyond the caps that is considered excess health spending. c) Based on historical health insurance premium experience, it is expected that the district would be subject to the tax in 2020. In order not to exceed the ACA limits, the district s premiums cannot increase by greater than 11%. This forecast assumes that the district will experience an 11% increase for FY18 and thereafter will make the necessary adjustments to health insurance benefits and/or premiums in order to avoid the excise tax. 3.030 Purchased Services 3.040 Supplies and Materials 3.050 Capital Outlay The forecasted amounts for FY17 are based on appropriations and historical spending patterns of actual expenditures compared to appropriations. FY18 FY21 forecast a 2% annual inflation rate. 3.060 Intergovernmental (7600 and 7700) None. 4.010 through 4.060 Debt Service None. 4.300 Other Objects This category includes memberships, dues, awards and prizes, county auditor and treasurer fees, state auditor charges, bank fees, and other miscellaneous amounts. The forecasted amount for FY17 is based on appropriations and historical spending patterns of actual expenditures compared to appropriations. Forecasted amounts for FY18 FY21 have been reduced to reflect an expected decrease in county auditor and treasurer fees due to the expiration of the $2.4 million emergency operating levy. 9 of 38
5.010 Operating TransfersOut For FY17, the following transfers from the general fund have already occurred: 1. $102,000 to the Budget Reserve Fund to maintain the boardrequired balance for fiscal stabilization as approved on September 30, 2015 2. $860,000 to the Capital Projects Fund for high school improvements 3. $63,000 to the Termination and Retirement Benefits Fund 4. $25,000 to the Preschool Fund 5. $52,000 to student activity fundsh.s. Athletics ($41,000), M.S. Athletics ($4,500), Dramatic Arts ($500), Quick Recall ($500), H.S. Mock Trial ($500), H.S. Musical ($4,000) and National Honor Society ($1,000) No further transfers are forecasted for FY17. For FY18FY21, transfers are forecasted for fiscal stabilization, retirement savings, student activities and preschool. See explanations also for Line 2.04 Operating TransfersIn and Line 9.045 Reservation of Fund Balances. 5.020 AdvancesOut None. 5.030 All Other Financing Uses This category includes refunds of prior years receipts. The FY17 amount is the actual amount as of the October, 2016. This category is unpredictable and inconsistent. Nothing is forecasted beyond FY17. 8.010 Encumbrances The FY16 yearend encumbrance amount is utilized for FY17FY21. Reservation of Fund Balances 9.045 Fiscal Stabilization In September of 2013, the board of education passed a fiscal policy to reserve 5% of the prior fiscal year general fund revenues (excluding other financing sources) for the purpose of fiscal stabilization pursuant to O.R.C. Section 5705.15. The 5% includes two budget reservation funds. One is specifically for health insurance, and the other is for general budget stabilization. The reservation amounts do not assume the renewal of the $2.4 million emergency operating levy. See Exhibit M. Revenue from Replacement/Renewal Levies 11.010 Income Tax Renewal None. 11.020 Property Tax Renewal or Replacement An amount is forecasted effective FY18 that represents a renewal of the current $2,400,000 emergency operating levy that expires at the end of calendar year 2016. The forecasted amount is net of auditor and treasurer fees. 10 of 38
Revenue from New Levies 13.010 Income Tax New None. 13.020 Property Tax New None. 14.010 Revenue from Future State Advancements. None. NOTE 1: In September 2013, the board of education established a fiscal policy in the interest of prudent fiscal management. The board passed a motion to maintain as a minimum carryover balance for the succeeding fiscal year an unencumbered and unreserved general fund balance equal to two months of prior fiscal year average monthly general fund expenditures (excluding other financing uses). Amendment of this policy requires board action. Based on the assumptions presented, the district will meet the minimum carryover balance through FY21 by utilizing carryover funds (without renewal emergency funds Line 10.010 or with renewal emergency funds Line 12.010). See Exhibit M. NOTE 2: Please contact Debbie L. Black, CPA, Treasurer/CFO, at 7403353010 regarding any questions. 11 of 38
EXHIBIT A1 FY17 TAX ESTIMATES 99.61% 3year average collection rate, including delinquency collections 2015 GEN. FUND REVENUE ADJUSTED FALL '16 HOMESTEAD & NET FALL '16 AG/RES $ 430,438,650.02 $ 8,574,908 $ 3,502,744 $ 560,447 $ 3,110,043.89 OTHER $ 80,615,800.021273843 $ 1,708,261 $ 697,804 $ 619,571.42 P.U.P.P. $ 82,799,730.0221 $ 1,822,676 $ 744,540 $ 661,068.49 TOTAL $ 593,854,180 $ 12,105,845 $ 4,945,088 $ 560,447 $ 4,390,684 $ 4,390,684 2016 GEN. FUND REVENUE ADJUSTED SPRING '17 HOMESTEAD & NET SPRING '17 AG/RES $ 430,526,790.02 $ 8,576,664 $ 5,073,203 $ 597,825 $ 4,475,378 OTHER $ 79,785,030.02 $ 1,589,423 $ 940,164 $ 940,164 P.U.P.P. $ 88,520,500.0221 $ 1,948,607 $ 1,152,625 $ 1,152,625 TOTAL $ 598,832,320 $ 12,114,694 $ 7,165,992 $ 597,825 $ 6,568,167 FY17 GEN. FUND TOTALS $ 12,111,079 $ 1,158,272 $ 10,952,807 $2,400,000 EMG. 2015 EMERGENCY REVENUE ADJUSTED FALL '16 HOMESTEAD & NET FALL '16 AG/RES $ 430,438,650.00417 $ 1,787,868 $ 730,322 $ 116,853 $ 648,444.15 OTHER $ 80,615,800.00417 $ 334,845 $ 136,780 $ 121,445.52 P.U.P.P. $ 82,799,730.00417 $ 343,917 $ 140,486 $ 124,735.55 TOTAL $ 593,854,180 $2,400,000 $ 2,466,630 $ 1,007,588 $ 116,853 $ 894,625 $ 894,625 2016 EMERGENCY REVENUE ADJUSTED SPRING '17 HOMESTEAD & NET SPRING '17 AG/RES $ 430,526,790.0040578 $ 1,746,991 $ 1,033,367 $ 121,293 $ 912,074 OTHER $ 79,785,030.0040578 $ 323,752 $ 191,503 $ 191,503 P.U.P.P. $ 88,520,500.0040578 $ 359,198 $ 212,470 $ 212,470 TOTAL $ 598,832,320 $2,400,000 $ 2,429,942 $ 1,437,341 $ 121,293 $ 1,316,048 $2,400,000 EMG. TOTALS $ 2,444,929 $ 238,146 $ 2,210,673 FY17 GEN. & EMG. TOTALS $ 14,556,008 $ 1,396,418 $ 13,163,480 Real Property Tax Estimate $ 13,163,480 Property Tax Allocation not affected by delinquency per M. Smith Fayette County Auditor $ 1,396,418 General Homestead $ 208,261 General Rollback $ 950,012 Emergency Homestead $ 42,819 Emergency Rollback $ 195,327 ACTUALS 12 of 38
EXHIBIT A2 FY18 TAX ESTIMATES 99.61% 3year average collection rate, including delinquencies 2016 GEN. FUND REVENUE ADJUSTED FALL '17 HOMESTEAD & NET FALL '17 AG/RES $ 430,526,790.02 $ 8,576,664 $ 3,503,461 $ 600,674 $ 2,902,787 OTHER $ 79,785,030.02 $ 1,589,423 $ 649,260 $ 649,260 P.U.P.P. $ 88,520,500.0221 $ 1,948,607 $ 795,982 $ 795,982 TOTAL $ 598,832,320 $ 12,114,694 $ 4,948,703 $ 600,674 $ 4,348,028 2017 GEN. FUND REVENUE ADJUSTED SPRING '18 HOMESTEAD & NET SPRING '18 AG/RES $ 430,526,790.02 $ 8,576,664 $ 5,073,203 $ 597,825 $ 4,475,378 OTHER $ 80,501,655.02 $ 1,603,700 $ 948,608 $ 948,608 P.U.P.P. $ 88,520,500.0221 $ 1,948,607 $ 1,152,625 $ 1,152,625 TOTAL $ 599,548,945 $ 12,128,970 $ 7,174,436 $ 597,825 $ 6,576,611 FY18 GEN. FUND TOTALS $ 12,123,139 $ 1,198,499 $ 10,924,640 $2,400,000 EMG. 2016 EMERGENCY REVENUE ADJUSTED FALL '17 HOMESTEAD & NET FALL '17 AG/RES $ 430,526,790.0040578 $ 1,740,119 $ 710,817 $ 121,871 $ 588,946 OTHER $ 79,785,030.0040578 $ 322,478 $ 131,728 $ 131,728 P.U.P.P. $ 88,520,500.0040578 $ 357,785 $ 146,151 $ 146,151 TOTAL $ 598,832,320 $2,400,000 $ 2,420,383 $ 988,696 $ 121,871 $ 866,826 FY18 GEN. & 1/2 EMG. $ 13,111,835 $ 1,320,370 $ 11,791,465 2017 EMERGENCY REVENUE ADJUSTED SPRING '18 HOMESTEAD & NET SPRING '18 AG/RES $ 430,526,790.004053009 $ 1,744,929 $ 1,032,147 $ 121,149 $ 910,998 OTHER $ 80,501,655.004053009 $ 326,274 $ 192,995 $ 192,995 P.U.P.P. $ 88,520,500.004053009 $ 358,774 $ 212,220 $ 212,220 TOTAL $ 599,548,945 $2,400,000 $ 2,429,977 $ 1,437,362 $ 121,149 $ 1,316,212 $2,400,000 EMG. TOTALS $ 2,426,058 $ 243,020 $ 2,183,038 FY18 GEN. & EMG. TOTALS $ 14,549,197 $ 1,441,519 $ 13,107,677 Real Property Tax Estimate $ 13,107,677 Property Tax Allocation not affected by delinquency per M. Smith Fayette County Auditor $ 1,441,519 General Homestead $ 215,493 General Rollback $ 983,006 Emergency Homestead $ 43,696 Emergency Rollback $ 199,325 13 of 38
EXHIBIT A3 FY19 TAX ESTIMATES 99.61% 3year average collection rate, including delinquencies 2017 GEN. FUND REVENUE ADJUSTED FALL '18 HOMESTEAD & NET FALL '18 AG/RES $ 430,526,790.02 $ 8,576,664 $ 3,503,461 $ 600,674 $ 2,902,787 OTHER $ 79,785,030.02 $ 1,589,423 $ 649,260 $ 649,260 P.U.P.P. $ 88,520,500.0221 $ 1,948,607 $ 795,982 $ 795,982 TOTAL $ 598,832,320 $ 12,114,694 $ 4,948,703 $ 600,674 $ 4,348,028 2018 GEN. FUND REVENUE ADJUSTED SPRING '19 HOMESTEAD & NET SPRING '19 AG/RES $ 443,442,594.02 $ 8,833,963 $ 5,225,399 $ 615,760 $ 4,609,639 OTHER $ 83,912,015.02 $ 1,671,638 $ 988,795 $ 988,795 P.U.P.P. $ 88,520,500.0221 $ 1,948,607 $ 1,152,625 $ 1,152,625 TOTAL $ 615,875,109 $ 12,454,209 $ 7,366,819 $ 615,760 $ 6,751,059 FY19 GEN. FUND TOTALS $ 12,315,521 $ 1,216,434 $ 11,099,088 $2,400,000 EMG. 2017 EMERGENCY REVENUE ADJUSTED FALL '18 HOMESTEAD & NET FALL '18 AG/RES $ 430,526,790.00417 $ 1,788,234 $ 730,472 $ 125,241 $ 605,231 OTHER $ 79,785,030.00417 $ 331,395 $ 135,371 $ 135,371 P.U.P.P. $ 88,520,500.00417 $ 367,678 $ 150,192 $ 150,192 TOTAL $ 598,832,320 $2,400,000 $ 2,487,308 $ 1,016,034 $ 125,241 $ 890,794 FY19 GEN. & 1/2 EMG. $ 13,331,556 $ 1,341,674 $ 11,989,881 2018 EMERGENCY REVENUE ADJUSTED SPRING '19 HOMESTEAD & NET SPRING '19 AG/RES $ 443,442,594.004 $ 1,773,770 $ 1,049,207 $ 123,152 $ 926,055 OTHER $ 83,912,015.004 $ 335,648 $ 198,540 $ 198,540 P.U.P.P. $ 88,520,500.004 $ 354,082 $ 209,444 $ 209,444 TOTAL $ 615,875,109 $2,400,000 $ 2,463,500 $ 1,457,191 $ 123,152 $ 1,334,039 $2,400,000 EMG. TOTALS $ 2,473,225 $ 248,393 $ 2,224,833 FY19 GEN. & EMG. TOTALS $ 14,788,747 $ 1,464,826 $ 13,323,920 Real Property Tax Estimate $ 13,323,920 Property Tax Allocation not affected by delinquency per M. Smith Fayette County Auditor $ 1,464,826 General Homestead $ 218,718 General Rollback $ 997,716 Emergency Homestead $ 44,662 Emergency Rollback $ 203,731 14 of 38
EXHIBIT A4 FY20 TAX ESTIMATES 99.61% 3year average collection rate, including delinquencies 2018 GEN. FUND REVENUE ADJUSTED FALL '19 HOMESTEAD & NET FALL '19 AG/RES $ 443,442,594.02 $ 8,833,963 $ 3,608,565 $ 618,695 $ 2,989,870 OTHER $ 83,912,015.02 $ 1,671,638 $ 682,844 $ 682,844 P.U.P.P. $ 88,520,500.0221 $ 1,948,607 $ 795,982 $ 795,982 TOTAL $ 615,875,109 $ 12,454,209 $ 5,087,390 $ 618,695 $ 4,468,696 2019 GEN. FUND REVENUE ADJUSTED SPRING '20 HOMESTEAD & NET SPRING '20 AG/RES $ 443,442,594.02 $ 8,833,963 $ 5,225,399 $ 615,760 $ 4,609,639 OTHER $ 83,912,015.02 $ 1,671,638 $ 988,795 $ 988,795 P.U.P.P. $ 88,520,500.0221 $ 1,948,607 $ 1,152,625 $ 1,152,625 TOTAL $ 615,875,109 $ 12,454,209 $ 7,366,819 $ 615,760 $ 6,751,059 FY20 GEN. FUND TOTALS $ 12,454,209 $ 1,234,454 $ 11,219,755 $2,400,000 EMG. 2018 EMERGENCY REVENUE ADJUSTED FALL '19 HOMESTEAD & NET FALL '19 AG/RES $ 443,442,594.004 $ 1,766,793 $ 721,713 $ 123,739 $ 597,974 OTHER $ 83,912,015.004 $ 334,328 $ 136,569 $ 136,569 P.U.P.P. $ 88,520,500.004 $ 352,689 $ 144,069 $ 144,069 TOTAL $ 615,875,109 $2,400,000 $ 2,453,809 $ 1,002,351 $ 123,739 $ 878,612 FY20 GEN. & 1/2 EMG. $ 13,456,560 $ 1,358,193 $ 12,098,367 2019 EMERGENCY REVENUE ADJUSTED SPRING '20 HOMESTEAD & NET SPRING '20 AG/RES $ 443,442,594.004 $ 1,773,770 $ 1,049,207 $ 123,152 $ 926,055 OTHER $ 83,912,015.004 $ 335,648 $ 198,540 $ 198,540 P.U.P.P. $ 88,520,500.004 $ 354,082 $ 209,444 $ 209,444 TOTAL $ 615,875,109 $2,400,000 $ 2,463,500 $ 1,457,191 $ 123,152 $ 1,334,039 $2,400,000 EMG. TOTALS $ 2,459,542 $ 246,891 $ 2,212,651 FY20 GEN. & EMG. TOTALS $ 14,913,751 $ 1,481,345 $ 13,432,406 Real Property Tax Estimate $ 13,432,406 Property Tax Allocation not affected by delinquency per M. Smith Fayette County Auditor $ 1,481,345 General Homestead $ 221,958 General Rollback $ 1,012,496 Emergency Homestead $ 44,392 Emergency Rollback $ 202,499 15 of 38
EXHIBIT A5 FY21 TAX ESTIMATES 99.61% 3year average collection rate, including delinquencies 2019 GEN. FUND REVENUE ADJUSTED FALL '20 HOMESTEAD & NET FALL '20 AG/RES $ 443,442,594.02 $ 8,833,963 $ 3,608,565 $ 618,695 $ 2,989,870 OTHER $ 83,912,015.02 $ 1,671,638 $ 682,844 $ 682,844 P.U.P.P. $ 88,520,500.0221 $ 1,948,607 $ 795,982 $ 795,982 TOTAL $ 615,875,109 $ 12,454,209 $ 5,087,390 $ 618,695 $ 4,468,696 2020 GEN. FUND REVENUE ADJUSTED SPRING '21 HOMESTEAD & NET SPRING '21 AG/RES $ 443,442,594.02 $ 8,833,963 $ 5,225,399 $ 615,760 $ 4,609,639 OTHER $ 83,912,015.02 $ 1,671,638 $ 988,795 $ 988,795 P.U.P.P. $ 88,520,500.0221 $ 1,948,607 $ 1,152,625 $ 1,152,625 TOTAL $ 615,875,109 $ 12,454,209 $ 7,366,819 $ 615,760 $ 6,751,059 FY21 GEN. FUND TOTALS $ 12,454,209 $ 1,234,454 $ 11,219,755 $2,400,000 EMG. 2019 EMERGENCY REVENUE ADJUSTED FALL '20 HOMESTEAD & NET FALL '20 AG/RES $ 443,442,594.004 $ 1,766,793 $ 721,713 $ 123,739 $ 597,974 OTHER $ 83,912,015.004 $ 334,328 $ 136,569 $ 136,569 P.U.P.P. $ 88,520,500.004 $ 352,689 $ 144,069 $ 144,069 TOTAL $ 615,875,109 $2,400,000 $ 2,453,809 $ 1,002,351 $ 123,739 $ 878,612 FY20 GEN. & 1/2 EMG. $ 13,456,560 $ 1,358,193 $ 12,098,367 2020 EMERGENCY REVENUE ADJUSTED SPRING '21 HOMESTEAD & NET SPRING '21 AG/RES $ 443,442,594.004 $ 1,773,770 $ 1,049,207 $ 123,152 $ 926,055 OTHER $ 83,912,015.004 $ 335,648 $ 198,540 $ 198,540 P.U.P.P. $ 88,520,500.004 $ 354,082 $ 209,444 $ 209,444 TOTAL $ 615,875,109 $2,400,000 $ 2,463,500 $ 1,457,191 $ 123,152 $ 1,334,039 $2,400,000 EMG. TOTALS $ 2,459,542 $ 246,891 $ 2,212,651 FY21 GEN. & EMG. TOTALS $ 14,913,751 $ 1,481,345 $ 13,432,406 Real Property Tax Estimate $ 13,432,406 Property Tax Allocation not affected by delinquency per M. Smith Fayette County Auditor $ 1,481,345 General Homestead $ 221,958 General Rollback $ 1,012,496 Emergency Homestead $ 44,392 Emergency Rollback $ 202,499 16 of 38
COUNTIES/PROPERTY VALUES (per Ohio Department Taxation DTE 13 & Fayette County Auditor) EXHIBIT B Calendar Year Ag/Res (Class I) Other R.E. (Class II) P.U.P.P. Tangible P.P. Total (Inds./Com/Min/RR) (current/not arrears) 2011 $ 290,908,280 $ 50,965,320 $ 84,161,914 $ 426,035,514 2012 $ 314,412,120 $ 87,329,660 $ 86,477,560 $ 488,219,340 2013 $ 315,116,180 $ 86,707,000 $ 82,868,920 $ 484,692,100 2014 $ 319,567,850 $ 85,616,690 $ 82,157,060 $ 487,341,600 2015 $ 430,438,650 $ 80,615,800 $ 82,799,730 $ 593,854,180 2016 estimated $ 430,526,790 $ 79,785,030 $ 88,520,500 $ 598,832,320 Note: Per Fayette County Auditor, Mike Smith, manufactured home values still considered mobile homes (no permanent foundation) not included in these values. The taxes and H & R credits for manufactured (mobile) homes are received separately. Mfrd. Homes with permanent foundations included in Class I values. Per Fayette County Auditor, increased value due to Tanger Outlet Mall sale. MILLAGE (less bond & mtn. issue & PI) (using DTE515) Calendar Year Full Millage (G&E) Class I Effective Class II Effective 2011 0.0283 0.026200002 0.026986657 2012 0.0279 0.025800002 0.025800002 2013 0.0279 0.025800002 0.025800002 2014 0.0279 0.025445002 0.025618579 2015 0.02627 0.024170002 0.025443843 (currentnot arrears) TAXES RECEIVABLE Ag/Res Other R. E. P.U.P.P. Subtotal Tangible Total Collectible Calendar Year (effective Class I) (effective Class II) (full millage) (full millage) (Gen. & Emg.) 2011 (rec. 2012) $ 7,621,798 $ 1,375,384 $ 2,381,782 $ 11,378,963 $ 20,275 $ 11,399,238 2012 (rec. 2013) $ 8,111,833 $ 2,253,105 $ 2,412,724 $ 12,777,663 $ $ 12,777,663 2013 (rec. 2014) $ 8,129,998 $ 2,237,041 $ 2,312,043 $ 12,679,082 $ 428 $ 12,679,510 2014 (rec. 2015) $ 8,131,405 $ 2,193,378 $ 2,292,182 $ 12,616,964 $ $ 12,616,964 2015 (rec. 2016) $ 10,403,703 $ 2,051,176 $ 2,175,149 $ 14,630,028 $ $ 14,630,028 COLLECTIONS Total R.E. & P.U.P.P. Collected Homestead 10% & 2.5% Rollback Calendar Year Rec'd First Half Second Half Subtotal First Half Second Half Subtotal First Half Second Half Subtotal Total % COLLECTED delinquencies included 2012 (2011 taxes) $ 5,925,069 $ 4,561,134 $ 10,486,204 $ 133,652 $ 138,186 $ 271,838 $ 430,199 $ 433,642 $ 863,841 $ 11,621,883 101.95% 2013 (2012 taxes) $ 6,621,353 $ 4,855,932 $ 11,477,285 $ 132,274 $ 133,584 $ 265,858 $ 448,149 $ 451,225 $ 899,375 $ 12,642,518 98.94% 2014 (2013 taxes) $ 6,736,653 $ 4,825,720 $ 11,562,373 $ 132,072 $ 134,670 $ 266,742 $ 448,008 $ 447,989 $ 895,997 $ 12,725,112 100.36% 2015 (2014 taxes) $ 6,702,327 $ 4,630,684 $ 11,333,011 $ 130,272 $ 131,280 $ 261,552 $ 447,187 $ 449,944 $ 897,131 $ 12,491,695 99.01% 2016 (2015 taxes) $ 7,907,825 $ 5,285,309 $ 13,193,134 $ 122,023 $ 121,947 $ 243,970 $ 557,554 $ 555,353 $ 1,112,907 $ 14,550,011 99.45% (missing Ross County) (missing Ross County) 18% 82% Collection Rate (avg. last 3 years) 59.15% 40.85% 100% 49.77% 50.23% 100% 49.99% 50.01% 100% 99.61% Homestead collection % of Total (3 yr. avg.) 1.94% Rollback collection % of Total (3 7.31% 9.25% Homestead & Rollback collections exclude manufactured (mobile) homes. Per Fayette County Treasurer 10/26/15, delinquency rate 2%. However, tax receipts do not break down delinquency collections. Therefore, rather than use delinquency rate, using 3 year average collection, including delinquencies. COLLECTIONS Total Tangible P.P. Collected Calendar Year Rec'd First Half Second Half Total TPP eliminated. TPP taxes paid represent delinquencies. Homestead & rollback only a factor for Class I property. Percentage of H/R to Class I TY2015 13.11% TY2014 14.39% TY2013 14.25% 3 year average 13.92% 17 of 38
COUNTIES/PROPERTY VALUES (using DTE13, ODT) EXHIBIT C Tax Year 2011 2012 2013 2014 2015 2016 Fayette $ 411,038,664 $ 472,795,230 $ 469,125,290 $ 468,527,970 $ 574,884,800 Pickaway $ 13,165,610 $ 13,557,700 $ 13,524,080 $ 16,261,790 $ 16,204,510 Clinton $ 40,260 $ 40,260 $ 40,260 $ 55,550 $ 55,550 Highland $ 113,620 $ 133,340 $ 131,470 $ 130,310 $ 213,890 Ross $ 420,370 $ 425,400 $ 604,180 $ 604,540 $ 586,240 Madison $ 1,256,990 $ 1,267,410 $ 1,266,820 $ 1,761,440 $ 1,758,190 TOTAL $ 426,035,514 $ 488,219,340 $ 484,692,100 $ 487,341,600 $ 593,703,180 $ Note: Bold items = reappraisal or update Percentage of change from one year to next. Fayette 15.02% 0.78% 0.13% 22.70% Pickaway 2.98% 0.25% 20.24% 0.35% Clinton 0.00% 0.00% 37.98% 0.00% Highland 17.36% 1.40% 0.88% 64.14% Ross 1.20% 42.03% 0.06% 3.03% Madison 0.83% 0.05% 39.04% 0.18% TOTAL 14.60% 0.72% 0.55% 21.82% REAPPRAISAL & UPDATE SCHEDULE Fayette Pickaway Clinton Madison Highland Ross Calendar Year 2011 Reappraisal Reappraisal Update 2012 Reappraisal Reappraisal 2013 Reappraisal 2014 Update Update Reappraisal 2015 Update Update 2016 Update 2017 Reappraisal Reappraisal Update 2018 Reappraisal Reappraisal 2019 Reappraisal 2020 Update Update Reappraisal 2021 Update Update 18 of 38
Calendar Year Ag/Res (Class I) Other R.E. (Class II) P.U.P.P. Tangible P.P. Total EXHIBIT D (inds/com/min/rr) 2011 $ 290,908,280 $ 50,965,320 $ 84,161,914 $ 426,035,514 2012 $ 314,412,120 $ 87,329,660 $ 86,477,560 $ 488,219,340 ** 2013 $ 315,116,180 $ 86,707,000 $ 82,868,920 $ 484,692,100 ** 2014 $ 319,567,850 $ 85,616,690 $ 82,157,060 $ 487,341,600 ** 2015 $ 430,438,650 $ 80,615,800 $ 82,799,730 $ 593,854,180 ** 2016 estimated $ 430,526,790 $ 79,785,030 $ 88,520,500 $ 598,832,320 ** Per Fayette County Auditor, increased value due to Tanger Outlet Mall sale. Valuations per ODT DTE13. Percentage of change from one year to next. Calendar Year Ag/Res (Class I) Other R.E. (Class II) P.U.P.P. Tangible P.P. Total (inds/com/min/rr) 2012 8.08% 71.35% 2.75% 14.60% 2013 0.22% 0.71% 4.17% 0.72% 2014 1.41% 1.26% 0.86% 0.55% 2015 34.69% 5.84% 0.78% 21.86% 2016 estimated 0.02% 1.03% 6.91% 2017 estimated 0.00% 0.00% 0.00% 2018 estimated 3.00% 0.50% 0.00% 2019 estimated 0.00% 0.00% 0.00% 2020 estimated 0.00% 0.00% 0.00% Notes: Per Fayette County Auditor, Mike Smith, manufactured home values still considered mobile homes (no permanent foundation) not included in these values. Estimated percentage increases/decreases based on input from Fayette County Auditor Mike Smith. **Full Classification Breakdown TY2012 TY2013 TY2014 TY2015 TY2016 TY16% of Total Agriculture $ 167,685,340 $ 167,694,480 $ 171,542,250 $ 280,165,600 $ 280,177,340 47% Residential $ 146,726,780 $ 147,421,700 $ 148,025,600 $ 150,273,050 $ 150,349,450 25% Commercial $ 74,066,950 $ 73,603,440 $ 72,519,610 $ 68,171,110 $ 67,755,410 11% Industrial $ 13,134,740 $ 12,976,470 $ 12,976,470 $ 12,329,300 $ 11,914,230 2% Mineral & RR $ 127,970 $ 127,090 $ 120,610 $ 115,390 $ 115,390 0% PUPP $ 86,477,560 $ 82,868,920 $ 82,157,060 $ 82,799,730 $ 88,520,500 15% Total $ 488,219,340 $ 484,692,100 $ 487,341,600 $ 593,854,180 $ 598,832,320 19 of 38
Valuation per Property Type per County per DTE13s EXHIBIT D1 2013 Agricultural Residential Mineral Industrial Commercial PUPP Railroad TOTAL Clinton $ 40,260 $ 40,260 Fayette $ 162,807,810 $ 138,538,200 $ 2,440 $ 12,948,650 $ 72,452,690 $ 82,250,850 $ 124,650 $ 469,125,290 Highland $ 82,780 $ 48,690 $ 131,470 Madison $ 726,880 $ 539,940 $ 1,266,820 Pickaway $ 3,450,310 $ 8,291,370 $ 27,820 $ 1,150,750 $ 603,830 $ 13,524,080 Ross $ 586,440 $ 3,500 $ 14,240 $ 604,180 $ 167,694,480 $ 147,421,700 $ 2,440 $ 12,976,470 $ 73,603,440 $ 82,868,920 $ 124,650 $ 484,692,100 2014 Agricultural Residential Mineral Industrial Commercial PUPP Railroad TOTAL Clinton $ 55,550 $ 55,550 Fayette $ 163,106,860 $ 139,236,100 $ 2,440 $ 12,948,650 $ 71,595,390 $ 81,520,360 $ 118,170 $ 468,527,970 Highland $ 81,620 $ 48,690 $ 130,310 Madison $ 1,234,850 $ 526,590 $ 1,761,440 Pickaway $ 6,476,930 $ 8,210,720 $ 27,820 $ 924,220 $ 622,100 $ 16,261,790 Ross $ 586,440 $ 3,500 $ 14,600 $ 604,540 $ 171,542,250 $ 148,025,600 $ 2,440 $ 12,976,470 $ 72,519,610 $ 82,157,060 $ 118,170 $ 487,341,600 2% 0% 0% 0% 1% 1% 5% 1% 2015 Agricultural Residential Mineral Industrial Commercial PUPP Railroad TOTAL Clinton $ 55,550 $ 55,550 Fayette $ 271,735,910 $ 141,481,830 $ 2,440 $ 12,301,480 $ 67,246,890 $ 82,154,300.00 $ 112,950 $ 575,035,800 Highland $ 165,200 $ 48,690 $ $ $ $ $ $ 213,890 Madison $ 1,231,600 $ 526,590 $ $ $ $ $ $ 1,758,190 Pickaway $ 6,442,300 $ 8,179,390 $ $ 27,820 $ 924,220 $ 630,780 $ $ 16,204,510 Ross $ 535,040 $ 36,550 $ $ $ $ 14,650 $ $ 586,240 $ 280,165,600 $ 150,273,050 $ 2,440 $ 12,329,300 $ 68,171,110 $ 82,799,730 $ 112,950 $ 593,854,180 2016 TENTATIVE PER COUNTY AUDITOR 10/24/16 Agricultural Residential Mineral Industrial Commercial PUPP Railroad TOTAL Clinton $ 55,550 $ 55,550 Fayette $ 271,747,650 $ 141,558,230 $ 2,440 $ 11,886,410 $ 66,831,190 $ 87,875,070.00 $ 112,950 $ 580,013,940 Highland $ 165,200 $ 48,690 $ $ $ $ $ $ 213,890 Madison $ 1,231,600 $ 526,590 $ $ $ $ $ $ 1,758,190 Pickaway $ 6,442,300 $ 8,179,390 $ $ 27,820 $ 924,220 $ 630,780 $ $ 16,204,510 Ross $ 535,040 $ 36,550 $ $ $ $ 14,650 $ $ 586,240 $ 280,177,340 $ 150,349,450 $ 2,440 $ 11,914,230 $ 67,755,410 $ 88,520,500 $ 112,950 $ 598,832,320 Change from FY15 0.00% 0.05% 0.00% 3.37% 0.61% 6.91% 0.00% 0.84% Change from FY14 63.32% 1.52% 0.00% 4.99% 6.00% 0.78% 4.42% 21.86% Change from FY13 67.07% 1.93% 0.00% 4.99% 7.38% 0.08% 9.39% 22.52% Combined Ag/Res 71.89% 20 of 38
Real Property Agreements Values updated with Fayette County Auditor Website October, 2016 Terms per Fayette County Auditors Office EXHIBIT E Property at 62/35 Agreement: May, 2005 30 year, 100% TIF agreement on real property improvements Agreement with City of Washington C. H. Semiannual payments from City of Washington C. H. in an amount equal to 35% of the service payments in lieu of taxes. MT to receive 100% of bond tax dollars. TIF payments started in FY08 (TY2007) WalMart Distribution Center Agreement: MT resolution December 2001 Years 110: 80% tax abatement on 50.0002% of real property improvements 30 year, 100% TIF agreement on real property improvements Agreement with City of Washington C. H. Semiannual payments from City of Washington C. H. in an amount equal to 75% of the service payments in lieu of taxes. TIF payments started in FY03 (TY2002), ends 2031 WalMart Store Property (includes WalMart Store, McDonalds, Fayette Investor LLC, Tiffin Avenue, RLG Fayette LTD (strip mall & auto bath), C. H. Plaza, tire store) 30 year, 100% TIF agreement on real property improvements Agreement: July 2000 Agreement with City of Washington C. H. Semiannual payments from City of Washington C. H. in an amount equal to 35% of the service payments in lieu of taxes. TIF payments started in FY03 (TY2002), end 2031 YUSA (per Fayette County Auditor's Office) Community reinvestment area tax exemption programs Parcel No. Market Value Abated Thru TY Taxable Values 19001800000924 $1,222,300 2017 $427,805 (per ODD Agreement #1060502) Parcel No. 19001800000803 60% abatement on real estate improvements Tax year 2016 last year of abatement. Taxable Value $716,625 Market Value $2,047,500 21 of 38
JD Capital Investments Parcel No. 19001800000902 19001800000902 (per ODD Agreement #1060501) 50% abatement for 10 years on real estate improvements TY 2015 last year of exemption. Taxable Value $251,930 Market Value $719,800 ASA Bloomingburg, LLC Ethanol Plant Parcel No. 19000300000404 19000300000404 (per TIF information from Fayette County Commissioners) 75% TIF agreement for 10 years on real estate improvements TY2017 last year of exemption Taxable Value $2,603,650 Market Value $7,439,000 Meerland Dairy Parcel No. 06000100002821 06000100002821 (per TIF information from Fayette County Commissioners) 75% TIF agreement for 10 years on real estate improvements TY2017 last year of exemption Taxable Value $696,605 Market Value $1,990,300 TY16 TY17 TY18 Real Property Taxable Value Additions (TY16 added to Class Values% spreadsheet, TY17 & TY18 added to tax estimate worksheets) $251,930 $716,625 $3,728,060 Enterprise Zone Provides tax incentives for businesses that expand or locate in Ohio. School district may or may not be involved in tax incentives, depending on the term and exemption percentage of the property. Community Reinvestment Area Program Provides local tax incentives for residents and businesses that invest in designated areas of Ohio. 22 of 38
School Finance Payment Report (SFPR) FY17 Estimate per October #2 ESTIMATE FROM ODE EXHIBIT F Statewide Factors & Parameters: s1 Formula ADM 1683077.42 s2 Economic Disadvantaged % 48.2864418% s3 3 Year Average Total Valuation (TY15, TY14, TY13) $ 243,269,322,199.00 s4 3 Year Average Federal Adjusted Gross Income (TY14, TY13, TY12) $ 301,821,145,648.00 District Factors & Parameters: a Base ADM Data a1 Formula ADM (a2(0.8*a5)+(0.2*a6)) 2,415.17 a2 Adjusted Total ADM (a3(0.5*a4)) 2,506.98 a3 Total ADM (per email from ODE Area Coordinator 10/21/16) 2,506.98 a4 Tuition Kindergarten FTE 0 a5 Jointure JVS ADM 114.8 a6 Contract Vocational ADM 0.16 b Special Education ADM Data 321.72 b1 Category 1 SE ADM 39.67 b2 Category 2 SE ADM 216.44 b3 Category 3 SE ADM 23.31 b4 Category 4 SE ADM 0.38 b5 Category 5 SE ADM 15.52 b6 Category 6 SE ADM 26.4 c Career Tech FTE 16 c1 Category 1 CT FTE 3.16 c2 Category 2 CT FTE 0.51 c3 Category 3 CT FTE 0 c4 Category 4 CT FTE 11.44 c5 Category 5 CT FTE 0.89 d Limited English proficient ADM 20.95 d1 Category 1 LEP ADM 2.41 d2 Category 2 LEP ADM 18.54 d3 Category 3 LEP ADM 0 e Additional ADM Data e1 K3 Formula ADM 792.87 e2 K3 ESchool Formula ADM 7.36 e3 Net Formula ADM [a6(e4*0.75)e5(e6e7)e8e9] 2364.162 e4 Brick & Mortar Community & STEM School Formula ADM 8.16 e5 ESchool Formula ADM 42.38 e6 Autism Scholarship ADM 2.51 e7 Preschool Autism Scholarship ADM 0 e8 Jon Peterson Scholarhsip 0 e9 Ed Choice Scholarship ADM 0 e10 Economic Disadvantaged ADM (updated 10/21/16 per email from Area Coordinator) 1232.36 e11 Economic Disadvantaged Percentage (updated 10/21/16 per email from Area Coordinator) 49.16% e12 ESchool Economically Disadvantaged ADM 38.37 f 3 Year Average Federal Adjusted Gross Income ((TY14+TY13+TY12)/3) $ 337,060,166.00 g 3 Year Average Total Real Valuation ((TY15+TY14+TY13)/3) $ 439,354,057.00 h 3 Year Average Agricultural Real Valuation ((TY15+TY14+TY13)/3) $ 206,467,443.00 i State Share Index 0.361754344 j Economic Disadvantaged Index [(e11/s3)^2] 0.974272912 k 3 Year Average Total Valuation((TY15+TY14+TY13)/3)) $ 521,962,626 l Graduation Bonus Factors (based on FY15 Report Card Data) n1 4 year adjusted graduation rate 95.00% n2 # graduates 171 0 Third Grade Reading proficiency Bonus Factors (Based on FY15 Report Card Data) o1 Third Grade Reading Proficiency Rate 65.70% o2 # students scoring proficient or higher on Third Grade Reading Test 119 A Opportunity Grant ($6000*(a1+e7)*i] $ 5,242,193.78 B Targeted Assistance (B5+B7) $ 2,441,905.65 B1 District Local Wealth Per Pupil [((k/a1)*0.5)+((f/a1)*0.5)] $ 177,838.84 B2 Statewide Local Wealth Per Pupil [((s3/s1)*0.5)+((s4/s1)*0.5)] $ 161,932.68 23 of 38