Welcome to the Financial Transparency section, where we shed light on our school district's financial stability and planning. In this segment, we delve into two crucial documents that play a pivotal role in ensuring the efficient functioning and long-term sustainability of our educational institutions: the Annual Comprehensive Financial Report (ACFR) and the Five-Year Forecast. These documents provide a comprehensive snapshot of our financial health, detailing revenues, expenditures, and investments. But why are they essential, you may wonder? The ACFR and Five-Year Forecast are not just reports filled with numbers; they are vital tools that empower us to make informed decisions, allocate resources efficiently, and chart a course towards a secure and prosperous future for our students, staff, and community. Let's explore why these documents are the backbone of sound financial management in our school district.

Pickerington Schools produces an Annual Comprehensive Financial Report (ACFR) after the close of each fiscal year. The ACFR is the school district's financial report that complies with the accounting standards required by the Governmental Accounting Standards Board (GASB). Other Ohio state, municipal, and governmental entities also compile these reports which are submitted to the Ohio Auditor of State and can be found on the Ohio Auditor of State website. 

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.