The five-year forecast is the primary document used to assess the financial health of a public school in Ohio. The Ohio Department of Education requires each public school district to file this report at least twice annually.
At the time of completion, it is an educated prediction of how a district will perform financially for the current year, as well as the following four years. This management tool engages district leadership in long-range planning of the financial issues facing the district.
It is important to realize that this document is a tool and is subject to change as time progresses. Adjustments and changes will inevitably occur between the first and even the second year, let alone the fifth. The most important pieces to the forecast are the assumptions or notes. These assumptions provide support and explanation for the numbers.
More information about Five-Year Forecasts is available on the Ohio Department of Education website.