Welcome to the Ohio Hi-Point (OHP) Financial Information Page where we provide the community with open and clear financial information.
If you have any questions, please contact our Treasurer's department at (937) 599-3010.
Ohio Hi-Point joins OhioCheckbook.com
In December 2014, Treasurer Mandel launched OhioCheckbook.com, which sets a new national standard for government transparency and for the first time in Ohio history puts all state spending information on the internet. OhioCheckbook.com recently earned Ohio the number one government transparency ranking in the country for the third year in a row.
"Ohio Hi-Point Career Center has a long history of financial effectiveness, and we understand the value and importance of making informed financial decisions. We're pleased to partner with the Treasurer of State by participating in the Ohio Checkbook program," said Treasurer Eric Adelsberger. "We look forward to adding this to our financial "toolbox" and welcome the opportunity to integrate this new analytical capability into our existing financial reporting, budgeting and forecasting processes."
The expenses reported by the Treasurer of the State on the Ohio Checkbook website for fiscal year (FY) 2017-2018 total $16,637,121.69. However, this does not include inter-fund transactions known as Advances and Transfers. Ohio Hi-Point's FY2017-2018 expenses including inter-fund transactions total $16,815,204.14. The difference equals $178,082.45.
Advances are temporary loans from Ohio Hi-Point JVSD’s General Fund to any other fund operated by Ohio Hi-Point. Why would OHP loan money from its General Fund to another fund? That is a fair question – one answered by offering an example:
Ohio Hi-Point receives Federal grant funds through the Vocational Education Act of 1984 (Perkins Act). This grant, like most grants, is funded on a reimbursement basis. OHP spends money as outlined in the Perkins grant application and then requests reimbursement for those funds. It is a spend first, receive actual grant funds second model. This funding arrangement would place the Perkins Grant Fund in a negative cash balance situation unless the fund received an Advance from OHP’s General Fund to solve the cash flow problem. At the end of the grant cycle, the Perkins Fund repays OHP’s General Fund in full for the Advanced monies.
2016-17 Perkins Grant Fund
Permanent Improvement Fund
2017-18 Perkins Grant Fund
Transfers are permanent cash infusions from Ohio Hi-Point’s General Fund to any other fund operated by Ohio Hi-Point. The permanent nature of a Transfer makes it a rare occurrence and one not taken lightly. Why would OHP Transfer from its General Fund to another fund? That is another good question and again one answered by offering an example:
OHP JVSD purchases rather than leases district copiers. The replacement of district copiers typically follows a five-year cycle. In an effort NOT to burden the OHP JVSD General Fund with a $125,000 purchase every five years, we have chosen to establish a separate fund outside the General Fund from which this purchase is made. Annually, $25,000 is Transferred from the General Fund into the Copier Replacement Fund to provide for this every five-year expense. The advantage to the General Fund is that rather than budgeting for a much larger $125,000 expense every five years we break that up into smaller $25,000 increments spread evenly over that same five-year period.
|General Fund||Copier Replacement Fund||$25,000|