Five-Year Forecast Reminder and Update
Dear Sponsors/Community School,
I wanted to send out a few points of clarification specific to the five-year forecasts based upon our review of the early submissions. We recommend the sponsor review the five-year forecasts for accuracy and completeness prior to submission into Epicenter.
- Five-year financial forecasts must be submitted no later than May 31. Please remember:
- Forecasts must use the updated template. The revised template and guidance for completing the forecast are available here.
- Forecasts must be submitted on the May 2018 template. Templates should not be altered.
- Forecasts must be complete including:
- Narrative Summary: Forecasts must include a narrative summary explaining forecasting methods used and a description of assumptions used to support projections. The narrative summary should provide sufficient information to support and explain all assumptions used in each forecast year.
- Staffing/Enrollment All past and future student enrollment must be included for all applicable years. All past and future staffing for Instructional and Administrative must be included for all applicable years.
- Purchased Services: A detailed breakdown of all purchased services must be provided in the chart provided in the Assumptions portion of the template. The total amount of purchased services detailed in the Assumptions chart should match the total amount of purchased services for the current fiscal year in the forecast portion of the template. Treasurers may note which of the figures included in the chart are provided by the school’s operator in the Assumptions’ narrative. The name of any operator(s) should also be included in the narrative.
- Debt: All outstanding debt, including outstanding FTE determinations, loans (including those from a sponsor or operator), lines of credit, notes, bonds, capital leases and payables past due 180 days or more, must be detailed in the chart provided.
Forecasts that are incomplete or are submitted in an outdated or altered format will be returned.
If there are questions, please reach out to our office.
Karl J. Koenig
Office of Community Schools