The Treasurer's Office

The Treasurer’s Office works with district staff and the Board of Education to provide sound resource management and financial leadership for Pickerington Schools. The Board and the Treasurer's Office are responsible for all fiscal operations of the District, including, but not limited to banking, investments; budgeting/appropriations, forecasting, accounts payable/receivable, payroll, tax receipts, bond issues, financial reporting, financial policy development and Board minutes.

Treasurer's Office Team

Ryan Jenkins
Ryan Jenkins
CFO/Treasurer
614-920-6111
Ryan Jenkins
Ryan Jenkins
CFO/Treasurer
614-920-6111
Ryan Jenkins
Ryan Jenkins
CFO/Treasurer
614-920-6111
Ryan Jenkins
Ryan Jenkins
CFO/Treasurer
614-920-6111
Ryan Jenkins
Ryan Jenkins
CFO/Treasurer
614-920-6111
Ryan Jenkins
Ryan Jenkins
CFO/Treasurer
614-920-6111
Ryan Jenkins
Ryan Jenkins
CFO/Treasurer
614-920-6111
Ryan Jenkins
Ryan Jenkins
CFO/Treasurer
614-920-6111
What are financial forecasts?

The following is an excerpt from the Ohio Department of Education website.

“A forecast is somewhat like a painting of the future based upon a snapshot of today. That snapshot, however, will be adjusted and the further into the future the forecast extends, the more likely it is that the projections will deviate from actual experience. A variety of events will ultimately impact the latter years of the forecast, such as state budgets (adopted every two years), tax levies (new/renewal/ replacement), salary increases, or businesses moving in or out of the district. The five-year 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 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 forecasts with ODE when events take place that will significantly change their forecast or, at a minimum, when required under statute.

“In a financial forecast, the numbers only tell a small part of the story. For the numbers to be meaningful, the reader must review and consider the Assumptions to the Financial Forecast before drawing conclusions or using the data as a basis for other calculations. The assumptions are very important to understanding the rationale of the numbers, particularly when a significant increase or decrease is reflected.”

Purposes and objectives of the five-year forecast

Here are three purposes or objectives of the five-year forecast:

  • To engage the local board of education and the community in long range planning and discussions of financial issues facing the school district
  • To serve as a basis for determining the school district’s ability to sign the certificate required by O.R.C. §5705.412, commonly known as the “412 certificate”
  • To provide a method for the Department of Education and Auditor of State to identify schools districts with potential financial problems

Ohio Revised Code and Ohio Administrative Code requirements

O.R.C. §5705.391 and O.A.C. 3301-92-04 require a Board of Education (BOE) to submit a five-year projection of operational revenues and expenditures along with assumptions to the Department of Education prior to October 31 of each fiscal year and to update this forecast between April 1 and May 31 of each fiscal year. ODE encourages school districts to update their forecast whenever events take place that will significantly change the forecast.

Required funds to be included in the forecast are:

  • General funds (001)
  • Any special cost center associated with general fund money
  • Emergency levy funds (016)
  • Any debt service (002) activity that would otherwise have gone to the general fund
  • Education Jobs Fund (504)

For the Pickerington Local School District, this forecast is required to consider the general fund and the other special cost centers associated with general fund money. Additionally, a small portion of Ed Jobs funding, which was provided by the federal government via stimulus funding, is also included for fiscal year 2013.

The following definitions will assist the reader/community member as he/she reads the assumptions to the forecast, or takes part in discussions about the forecast.

Definitions

412 Certificates – ORC 5705.412 requires the treasurer, superintendent, and president of the board of education to certify that adequate revenues will be available to maintain all personnel and programs for the current fiscal year and for a number of days in the succeeding fiscal years. 412 Certificates must be attached to:

  • Appropriations for the current fiscal year
  • Qualifying contracts covering the term of contract
  • Wage and salary schedule for the term of contract
  • Negotiated agreement(s) and contracts for benefits

Encumbrances – Money obligated to pay for any purchase. An end of year encumbrance is money obligated in the current fiscal year to be paid in the next fiscal year.

Expenditures – The spending of any public money for a specified purpose as approved by the BOE policy and procedures.

Fiscal Year – In education and state government, the fiscal year runs from July 1 through June 30, and each fiscal year is dated by the ending date. Example: FY12 would start July 1, 2011 and end June 30, 2012.

Revenues – Receipts generated from property taxes, school district income taxes, state foundation formula, and local monies (such as donations, fees, tuition, etc.).

Finally, since the preparation of a meaningful five-year forecast is as much an art as it is a science and entails many intricacies, it is recommended that you contact the Treasurer/Chief Fiscal Officer of the Pickerington Local School District, Ryan Jenkins at (614) 833-2110 to discuss any questions you may have.

You may also email him.