Course Details: State Funding and Key District Demographics
Target Audiences: School Districts
Category: Public Finance
This course will provide an overview of the current state funding formula in place for fiscal years 2020 and 2021. In addition, cover the key underlying district demographics important to potential formulas beyond the current biennium.
1. Understanding how the current funding formula is calculated based on FY 2019 ending amounts.
2. Overview the student enrollment being used in the formula, and it's departure from formula ADM
3. Discuss the calculation of supplemental revenue outside the base including Student Wellness Aid, Supplemental Student Wellness Aid, and Growing District Aid - and how a district qualifies.
4. Review of how the new supplemental funding will be handled - restricted, new fund and what we know so far
5. Overview and discussion of key local demographics, including historical changes, and what things to consider or keep in mind for future funding formulas
A thorough understanding and working knowledge of how state funding is calculated for a district is imperative for cash management, as it is typically one of the two main revenue sources for an Ohio school. This session will enhance the treasurer's understanding of how the state funding formula is being calculated, and when districts can anticipate changes to the revenue amounts throughout the year ultimately impacting its cash flow. Accurate cash flow projections and management are essential to helping ensure the district can meet all of its expenditure obligations, as well as assist with identifying monies available for investments.
Ryan Ghizzoni, Senior Analytics Advisor for Forecast5 Analytics, began his career with the Ohio Auditor of State's Office and has served as Treasurer/CFO for Ohio schools for over 17 years. During his career, he has been the recipient of six Association of School Business Officials International Meritorious Budget Awards and was the recipient of the Ohio Association of School Business Officials 2011 Outstanding Treasurer of the Year Award. Ryan holds a Bachelors of Business Administration from the Youngstown State University, and is a Certified Administrator of School Finance and Operations.