Understanding the Expenditure Side of the Funding Formula

Recorded On: 08/11/2021

  • Registration Closed

Date: 08/11/2021 at 2 p.m.

Cost: Free

Join OASBO and Forecast5 Analytics for a series focused on the new per-pupil funding formula and building an understanding of how the variables of the Fair School Funding Plan (FSFP) will impact your district. This four-part series will also help you begin to message your expected results to stakeholders as you head into a new fiscal year.

The Fair School Funding Plan is a “funded where educated” model. This means districts will no longer be funded nor have deductions taken away for resident students who are not attending the district’s schools. This will sharply impact the expenditure side of the budget. This final session will help Treasurer/CFOs account for the changes in a district’s Five-Year forecast.

Other Webinars in the Series

Understanding Local Share
07/21/2021 at 2 p.m.

Under FSFP, the local share is now based on a weighted average of property and income. This session will help you understand the details of the components, what it means for state basic aid and categoricals, and how the capacity calculation works to insure open enrollment is properly accounted for.
Click here to view recording.
 

Understanding Base Cost Calculations
07/28/2021 at 2 p.m.

The FSFP formula is an inputs-based model that has tried to identify the cost of education for a student with no special needs, regardless of the district that student lives in. This second session will go through the details of each of the components of the base cost, the rationale for including them, and how the funding level for each was determined.
Click here to view recording.
 

Understanding Categorical Funding
 08/05/2021 at 2 p.m. 

In addition to the base cost, there are a number of additional funding sources in the FSFP formula — Special Education, Ell, Gifted, Disadvantaged Pupil Impact Aid (DPIA, formerly economically disadvantaged), Transportation, and Targeted Assistance. This third session will review each of these topics, including a deeper dive into the calculations.
Click here to register.
 

Putting It Together & Understanding Transitional Aid and Funding Guarantees
08/19/2021 at 2 p.m.

This final session will recap and wrap up the series, plus discuss Transitional Aid and Funding Guarantees.
Click here to register.

 

Mike Sobul

Senior Analytic Advisor, Frontline Education, and Retired Treasurer

Mike Sobul is a Senior Analytics Advisor with Frontline Education (formerly Forecast5 Analytics), a national company with over 2,000 clients that provides public sector business intelligence software, consulting, and support services to school districts, higher education institutions and local governments. 

Prior to joining Forecast5, Mike was the CFO/Treasurer of the Granville schools from November 2011 through May 2019 and a consultant with Public Finance Resources from April 2012 until its merger with Forecast5 in May of 2019. 

Mike served as the Section Chief for Forecasting and Special Projects at the Tax Analysis Division of the Ohio Department of Taxation.  He was with the Department of Taxation from December 1986 until his retirement in July 2011.

Prior to joining the Department of Taxation, Mike served for two and one-half years as research associate at the Urban Center at Cleveland State University and two years as a budget analyst for the city of Cleveland. 

Over the past 30 years, Mike has contributed to school funding reform efforts in the Voinovich, Taft, and Strickland administrations.  He also has worked closely with the Cupp-Patterson workgroup since its inception in November 2017.

Mike received his B.A. from Wittenberg University and his Masters of Public Policy from the University of Michigan.  

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OASBO-Forecast5 Webinar: Understanding the Expenditure Side of the Funding Formula
08/11/2021 at 2:00 PM (EDT)  |  Recorded On: 08/11/2021
08/11/2021 at 2:00 PM (EDT)  |  Recorded On: 08/11/2021 Webinar ID: 850 3622 4499 Passcode: 100150
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