2018-2019 Proposed Final Budget May 8, 2018

2018-2019 Proposed Final Budget   % Change fr. 17-18 Proposed Expenditures $ 46,447,549 1.42% Proposed Revenues (includes proposed increase in state funding) $ 45,338,480 0.79% Additional Funding Needed: $ 1,109,069 Yield of one mill of real estate taxes: $ 827,914 Millage 2017-2018 32.56 State Allowable Index (without exceptions) $ 861,031 1.04 3.2% 1

Revisions from Draft to Proposed Final Description Justification Amount Salary & Benefits Changes based on position changes/STS approval (4,638) Special Education Language Arts Program 90,000 TOTAL EXPENDITURE CHANGES 85,362 Real Estate Reductions due to PADOT takeovers/April Interims (11,504) Interest Adjustment based on current projections 10,000 IDEA Additional projection for supplemental share 2,000 Rentals/Use of facilities Changes in lease rates 5,000 Retirement/Social Security Adjustments based on projections 6,103 Access funding Additional drawdown from Access funds for special ed. TOTAL REVENUE CHANGES 101,599 NET BUDGETARY CHANGES (16,237) 2

Fund Balance Status Unreserved Fund Balance 6/30/2017 $ 3,104,741 Projected Fund Balance Usage 2017-2018 $ (200,000) Projected Unreserved Fund Balance 6/30/2018 $ 2,904,741 Unreserved Fund Balance as % of 2018-2019 budget   6.25% 5% minimum fund balance per board policy $ 2,322,377 Retirement Stabilization Fund Balance $ 1,948,905 Projected Retirement Fund Balance Usage $ (300,000) Projected Retirement Fund Balance $ 1,648,905 Retire. Stabilization Fund Balance as % of 2018-2019 budget 3.55% 3

Budgetary Options Current Millage 32.56 .50 Mill Increase .98 Mill Increase (Act 1 Index) Capital Projects Funding - Option 1 & .97 Millage Increase Capital Projects Funding - Option 2 & Act 1 Index Allowance (.67 mill increase) Total Millage 33.06 33.31 33.54 33.60 33.30 % Increase 1.54% 2.30% 3.01% 3.19% 2.27% Budgetary Deficit 1,109,069 1,105,900 858,630 Retirement FB Use (300,000) Remaining Deficit 809,069 805,900 558,630 Additional Mills 413,957 620,936 395,112 188,133 (0) Projected Unreserved FB 2,904,741 Remaining Unreserved FB 2,509,629 2,716,608 % Of 18-19 Expenses 5.40% 5.85% 6.25% 4