2016 General Operating Referendum Fund Update May, 2017

2016 General Fund Revenue Projected by DLGF: $4,548,910 Based on Enrollment from June, Sept 2016 and Changes in Complexity Grant (12 Page Formula) 2016 General Fund Shortfall at Year’s End: 331,631.64 2016 Capital Projects Fund Shortfall at Year’s End: 211,047 ***Factor in Reduction in Enrollment: $6,100 per student (Graduated 65/K Entrance 51= 14 {$85,400}) Referendum Expenses: $1,439,036 Salary and Benefits from General Fund $829,585.23 Utilities $28,326.87 Twin Rivers and Special Education $53,346.42 Technology Related Expenses $37,954.00 Project (Bard Units) $52,893.47 Departmental Purchases (Ag./IT/ScienceK-12) $61,716.46 Classroom Supplies $6,906.23 Year End Transfer to General Fund $330,000 2016 Year End Total in General Fund -$1,631.64 Ran the General Fund through the Referendum Fund in November and May for all General Fund expenditures. Referendum Fund Current Balance: Summer Budgeting Needs includes $250,000 for projects/fixes; the Capital Projects Fund should begin the re-building phase of the 7 year period. Machining Program needs will also be considered.

Current Fund Sheet as of April 30, 2017: General Fund 4 month deficit $207,000 x 3 for Projected Annual Need Anticipated Deficit $827,000 DLGF 1782 Notice for 2017: Ref. Fund $1,500,000 General Fund $4,848.000 Actual Total Revenue $5,676,000 2015-16 Expenses $5,365,834 Related Financial Information SB308: The reduction of Assessed Valuation of Farmland Property 25% Reduction in AV in Farmland Property by 2021 WRV is 81% Farmland—Major Hit to School Budget and Ability for Revenue Proposed Loss of Revenue: $850,000

What does all this mean? To operate without the income of the Referendum… $827,000 in cuts (with the present enrollment) $850,000 in lost revenue b/c of Farmland AV changes Total cuts: $1,677,000 deficit *Continue to build the Rainy Day. *There will be difficult decisions to be made…just as there were prior to the passing of the May, 2014 Referendum. *Personnel *Facilities *Programs *Offer QUALITY programs that give our students the best opportunity for success. *Successful marketing. We must attract students.