SCHOOL DISTRICT OF HAVERFORD TOWNSHIP PROPOSED FINAL BUDGET 2017-2018 4/20/17

SCHOOL DISTRICT OF HAVERFORD TOWNSHIP BUDGET TIMELINE – PUBLIC BUDGET YEAR 2017-2018 DATE   DESCRIPTION 1-19-17 Review Preliminary Budget for 2017-2018. 2-2-17 Adopt Proposed 2017-2018 Preliminary Budget. 3-16-17 2017-2018 Budget Update. Review Major Assumptions. 4-20-17 Proposed Final Budget & Staffing Discussion. 5-4-17 Adopt Proposed Final Budget 2017-2018. 6-1-17 Adopt Final Budget 2017-2018.

SCHOOL DISTRICT OF HAVERFORD TOWNSHIP 2017-2018 PROPOSED FINAL BUDGET Increase Vs. 16-17 Budget Revenue: Act 1 Index - 2.5% (No Referendum Exceptions) $ 2,261,000 Assessment Growth 519,000 PSERS - Retirement Contributions 801,000 Medical Access 175,000 Transfer Tax 200,000 Delinquent Tax Other Revenue 413,000 Expenditures: Wages $ 945,000 PSERS Increase from 30.03% to 32.57% 1,581,000 Curriculum Textbooks 600,000 Special Maintenance Projects 252,000 Medical/Prescription Premium Increase 10% 1,104,000 Turf Field Warranty Replacement 210,000 APS/Special Education Non-Public/Private 323,000 DCIU Special Education Services 493,000 Two Additional Teacher Positions 232,000 Other Expenditures (134,000) Debt Service: Principal & Interest Payments $ 126,000

SCHOOL DISTRICT OF HAVERFORD TOWNSHIP 2017-2018 PROPOSED FINAL BUDGET 15-16 16-17 17-18 Actual Adj Budget Proposed Millage Rate 29.4719 30.2964 31.0538 % Increase 2.80% 2.50% Beginning Fund Balance $ 8,432,669 $ 9,629,193 Revenues: Local $ 89,970,004 $ 92,009,607 $ 95,152,989 State 17,742,164 18,585,729 19,839,099 Federal 1,149,973 1,310,674 1,483,176 Other Financing Uses (723,093) -   Total Revenues $ 108,139,048 $ 111,906,010 $ 116,475,264 Expenditures: Labor $ 51,324,070 $ 52,711,347 $ 53,655,947 Benefits & Fringes 28,028,604 31,494,693 34,231,806 Contracted Services 3,630,814 3,098,047 3,653,545 Utilities & Maintenance 3,300,508 3,830,131 4,066,838 Other Purchased Services 6,835,064 6,970,401 7,413,827 Supplies 2,737,944 3,191,888 3,587,403 Property & Equipment 801,620 557,624 583,906 Dues & Fees/Bond Interest 4,693,900 4,165,879 4,177,992 Bond Principal 5,590,000 5,886,000 6,267,000 Total Expenditures $ 106,942,524 $ 117,638,264 Subtotal $ 1,196,524 $ - $ (1,163,000) Ending Fund Balance $ 8,466,193 Fund Balance as a % of Expenditures 9.00% 8.60% 7.20%