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The reader should remember that a forecast
is somewhat like a painting of the future, which is based upon a snap
shot of today that has been adjusted to reflect all known activities of
the future along with certain assumptions and predictions of what may
happen. In other words, it is a living document that becomes outdated
once any additional information has come to light, which may introduce
new known events or changes in assumptions for the future. As such, the
five-year forecast is a good planning tool at best and will change
periodically as updated information becomes available. School districts
are encouraged to update their forecasts with the Ohio Department of
Education when events take place that will significantly change their
forecast.
The reader should also remember that the
numbers themselves tell only a small part of the story in financial
forecasting. For the numbers to be meaningful, the reader must review
and consider the Notes to the Financial Forecast before drawing
conclusions or using the data as a basis of other calculations.
Since the preparation of a meaningful
five-year forecast is as much of an art as it is a science, and
considering all of the intricacies of the information being presented by
the district, it is recommended that you contact the Treasurer with any
questions you might have. |
