Winona Area Public Schools Revised Budget As of April 3, 2014

FUND BALANCES FINAL BUDGET (Projected) GENERAL (UNASSIGNED) $ 7,215,52219% $ 6,017, % GENERAL (ASSIGNED) $ 2,546,037 $ 1,364,234 TOTAL GENERAL $ 9,761,559 $ 7,382,125 SCHOOL NUTRITION $ 352, % $ 236, % COMMUNITY EDUCATION $ 374, % $ 325, % CONSTRUCTION $ 386,668 $ 290,169 DEBT SERVICE $ 496,544 $ 396,807 OPEB TRUST $ 6,788,903 $ 6,207,408 OPEB DEBT REDEMPTION $ 170,883 $ 164,566 TOTAL ALL FUNDS $ 18,331,287 $ 15,002,376

REVENUES

Revenues – General Fund UR TYPEActual Projected Local Taxes $ 7,292,487 $ 6,415, % State Aids $ 27,022,809 $ 27,037,726.06% Federal Aids $ 1,671,703 $ 1,510, Local Revenue $ 1,667,333 $ 1,892, % TOTAL $ 37,654,332 $ 36,855, %

Revenues State Aid based on: ADM total of 3,109 State Aid formula of $5,302 Referendum of $1,550 per Resident pupil Enrollment is still dropping, reduction of.29% Projected to drop another 7.8% in next five years

Expenditures

Expenditures – General Fund UR TYPEActual Projected Salaries $ 23,527,891 $ 23,278, % Benefits $ 8,214,391 $ 8,038, % Services $ 4,976,654 $ 4,997, % Supplies $ 918,673 $ 931, % Capital/Other $ 862,252 $ 728, % TOTAL $ 38,499,862 $ 37,975, %

Expenditures – General Fund UR Expenditures show a 1.36% decrease, 33% of the $524,149 decrease is on the area of Benefits (Health Insurance) Salaries decreased by 1.06% Still – Expenses decreased slower than revenue Need to make the District more efficient

Reserved Fund Balances FUNDActual Projected Health & Safety $ (1,127,854)$ (948,164) Operating Capital $ 646,474$ 920,873 Non-spendable $ 77,321 Staff Development $ 38,724$ 2,163 Student Activities $ 195,085 QZAB/Other $ 2,716,288$ 1,116,956 TOTAL $ 2,546,037$ 1,364,234

Other Fund Balances FUNDActual Projected School Nutrition $ 352,356$ 236, % Community Services $ 374,375$ 325, % Construction $ 386,668$ 290,169 Debt Service $ 496,544$ 396,806 OPEB Trust/Debt $ 6,959,785$ 6,371,974 TOTAL ALL $ 18,331,287$ 15,002,376

Budget The Fund Balance goal is two months of operating expenses or 16.67% KEY ASSUMPTIONS – ENROLLMENT - 3,110 – BENEFIT COSTS – Health Insurance Increases – $3.7 M Spent on Medical Insurance – FUNDING FORMULA – House proposed $58 – CONTRACT SETTLEMENTS

Budget With the increase in Kindergarten funding, we were able to avoid major cuts Fund balance should be back over 16% Some additions are needed Will be balanced by reductions and revenue increases Board will be presented budget in late May or early June

Budget WAIT……….WAIT………WAIT…………..WAIT Major Decisions by Legislature – FUNDING FORMULA – House proposes another Point (1%). Increases WAPS Gen Ed Aid by about $200,000 – Early Childhood Funding – Senates Proposal looks to increase

Next Steps Approve Revised Budget – which establishes the beginning fund balance April 22, 2014 Meeting Implement Budget Additions and Reductions in 2015 Budget Wait for Minnesota Legislature Finalize State and Federal Revenues Approve Preliminary Budget in June