The five-year forecast serves as a tool to assess the financial health of a school district. City, local, exempted village and joint vocational school districts are required to submit five-year forecasts twice annually to the Ohio Department of Education (see Ohio Revised Code 5705.391 and Ohio Administrative Code 3301-92-04).
The five-year forecast contains two components:
- historical and projected financial data and
- notes to explain any significant changes or “assumptions” the District used to develop the reported financial projections.