WORKING BUDGET PRESENTATION September 24, 2015

Revenue Unaudited Carry Forward Balance - $6,323, Increased $423,361 from the tentative budget and up $108,,006 from the FY 15 audited Carry Forward Balance of $6,215,355 General Real Property - $3,475,000 FY 15 actual = $3,475, PSC (Public Service Companies) - $100,000 FY 15 actual = 133, year average is $121, year average is $111, Over the last 14 years we have seen a high of $139, in FY 05 to a low of $75, in FY09 Delinquent Property Tax - $50,000 Actual revenue in FY 14 decreased by $10,000 FY 15 actual = $39, year average is $47, year average is $51,377.72

Revenue Motor Vehicle - $440,000 Decreased by $10,000 Consistently increased since 2010, however, assessed values of motor vehicles have dropped in county 3 year average = $451, year average = $441, FY 15 Actual Collections = $462, KDE Tax Reports  $507,590 Utility Tax Rate - $875,000 Left constant 3 year average = $889, year average = $887, FY 15 Actual Collections = $878,182.72

Revenue Revenue in Lieu of Taxes - $565, We have seen significant decreases in TVA money from FY 11 to FY 15 and we are being told that there will be a significant decrease again in FY 16. FY 11 Actuals were $1,457, (TVA money decreased this year to $564, which is down $77,204.16; Impact Aid - $893,767.97). FY 12 Actuals are $1,443, (TVA money decreased again this year to $535, which is down $29,008.68; Impact Aid - $908,438.15). FY 13 Actuals are $4,771, (TVA money slightly increased to $536,130.60; Impact Aid - $4,235,460.03). FY 14 Actuals were $1,672, TVA - $499, Impact Aid - $1,172, FY 15 Actuals were $1,596, TVA - $420, Impact Aid - $1,175, We simply cannot make an accurate prediction for Revenue in Lieu of Taxes. We are budgeting based on TVA being approximately $400, and Impact Aid being $165,419 for a total of $565,419 mentioned above.

Revenue Interest Income - $30,000 Left Constant FY 11 was $36, FY 12 was $25, FY 13 was $31, FY 14 was $29, FY 15 was $39, Interest is based on interest rates and the amount of funds available for investing 3 year average = $33, year average = $32,459.03

SEEK Trend - Trigg Net loss of $31,410 Notice when you take into account the add-ons, deductions, etc., the overall STATE SEEK is decreasing on a per pupil basis

Revenue (con’t) Total Revenue for Fund 1 Fund 1 Working Budget for FY 16 is $18,806,278

Expenditures

Includes 3.5% of base SEEK per student to councils for instruction. Changes in amounts for retirement (KTRS & CERS) - County Retirement decreased this year (17.06%, down from 17.67%, and down from 18.89% year before) for Classified Employees. KTRS is increased to 3.0% (up from 2.25%, 1.5% the year before, and 1% the year before that) that is matched locally for any Certified Employee. Increase in amounts for salaries due to 2% required salary increase. Fund transfers show the money earmarked for the KETS match that is due in FY 16.

Expenditures KISTA payment is budgeted at $21, (paying for buses). Budgeted $200,000 in Court Judgments to cover KSBIT Assessment. Increase costs in Special Education staff due to identified needs (1 additional teacher and 1 additional aide). Have not designated in NxG Funds to schools, but have set aside $20,000 at the district level to support initiatives.

FUND 2 – SPECIAL REVENUE- $2,169,388 Fund II (Special Revenue) includes restricted funds designated for specific purposes (state and federal grant programs). The FY 16 appropriation for Fund 2 is $2,169,388, down from $2,226,595 in FY 15 Working Budget. Michelle has updated the description of each of the Fund 2 Projects; on the last page of the document you will find a chart that details the cuts and shows how the FY 16 funding compares to the FY 15 funding for the various programs. Specific points of interest in regards to Fund 2: Cuts have been significant in Fund 2 programs over the last few years, causing the general fund to have to pick up additional expenses. However, you will notice on the comparison that most of our state programs are experiencing increases this year. Vocational Center cut of approximately $70,000 is being picked up by the General Fund for FY 16. As you probably remember, there must be a match in fringe benefits in federal programs. Additionally, insurance (medical and life) and state administration fees are taken from federal programs, which is not done for employees paid from Fund 1.

FUND 310 – CAPITAL OUTLAY- $598,875 The revenue is based on information received from KDE (100 / ADA) and our interest rates. The expenses are based on the bond payment and the balance is budgeted in construction services. This is another controlled expense.

FUND 320 – BUILDING FUND- $982,782 The new revenue is based on the required nickel, information received from KDE, and interest rates. The expenses are based on bond payments and the balance is budgeted in construction services. Again, this is a controlled expense.

FUND 400 – DEBT SERVICE – $923,811 Fund 400 is a relatively new fund required by the Kentucky Department of Education to handle Debt Service. This money is already shown FUND 310 and FUND 320 and does not impact our overall total budget. Basically a flow through account – money transferred from 310 and 320 to make bond payments.

FUND 51 – SCHOOL FOOD SERVICE- $1,451,600 We often refer to Food Service as a “stand alone” business. While we do charge food service for some indirect costs (utilities, insurance, etc.), we do not charge the full cost. The program remains is in good financial standing at this time.

FUND 52 – CHILD CARE- $137,625 Trigg Tots is a break–even endeavor. Similar to Fund 51, it is a “stand alone” business. Similar to our Food Service program, the district does provide space, utilities and insurance. The new revenue is based on the child care fees projected. Expenses are based on the 2016 anticipated salary and fringe costs and projected food costs. (Note, the attachment indicated 2015 but is 2016 anticipated salary and fringe costs.)

Total Tentative Budget - $24,146,548.00