Five-Year Forecast
A District's Five-Year Forecast is a tool that provides useful financial information and serves as a guide in the District's decision-making process. The structure of the Five-Year Forecast includes a history of revenues and expenditures from the prior three fiscal years, as well as a projection for the current fiscal year and the following four fiscal years.
Information in the Five-Year Forecast is a snapshot in time, given the information known at that specific time. As time goes by, additional information becomes available and essentially renders the Five-Year Forecast as outdated. The Five-Year Forecast can be considered a good planning tool that changes periodically once new or updated information is known.
Given the fact that the snapshot of financial information often changes, it is crucial for viewers to read what is included in the assumptions. The assumptions of the Five-Year Forecast provide meaning and reflect the rationale behind the numbers. These assumptions should be considered prior to drawing conclusions or using the data as a basis of other calculations.
The Five Year Forecast is updated each October and May, as required by the Ohio Department of Education (ODE). ODE has provided a guide called, "How to Read a Five Year Forecast", which is a valuable resource offering tips and explanations on how to best understand the document.