5 YEAR BUDGET PROJECTION School Board Meeting 7/18/16

Revenue Assumptions No increase in Assessed values No tax increases No increase in State funding other than the mandatory retirement and social security reimbursements Sale of Fixed Assets based on current Bus Buy-back program cycle

Expenditure Assumptions Wage increases at 3% per year for all groups Employer retirement costs at the current projected PESERS rates Medical costs increase at 7.5% market trend Debt service schedule based on current refunding plan – no new borrowing Transportation costs based on current Bus Buy-back program (keeping buses 4 yrs, no propane)