BELLEFONTE AREA SCHOOL DISTRICT PROPOSED FINAL BUDGET 2014-2015

Proposed Final Budget Total Revenues $43,415,000 Total Expenditures $46,200,000 Fund Balance Used $ 2,785,000 Ending Fund Balance $ 3,233,037 Board Policy 7.0% Tax Millage 48.2513 Act 1 Adj. Index 2.7% 1.8% Approved Exceptions $ 436,345 Amount Used $0

ACTUAL BUDGET INC (DEC) PERCENT % OF EACH 11-12 12-13 13-14 14-15 CATEGORY BEGINNING FUND BALANCE $6,076,254 $7,034,746 $8,278,037 $6,018,037 ($2,260,000) -27.3% REVENUES: 6000 Local Sources 26,895,638 27,801,271 27,705,620 28,457,264 751,644 2.7% 65.5% 7000 State Sources 13,453,602 13,630,771 14,107,379 14,327,136 219,757 1.6% 33.0% 8000 Federal Sources 838,906 1,032,064 677,001 630,600 (46,401) -6.9% 1.5% 9000 Other Sources 691,821 26,911 0.0% TOTAL REVENUE 41,879,967 42,491,017 42,490,000 43,415,000 925,000 2.2% 100.0% EXPENDITURES: 100 Salaries 17,570,802 17,701,602 18,618,586 18,851,760 233,174 1.3% 40.8% 200 Benefits 9,033,256 8,776,598 11,455,656 12,383,364 927,708 8.1% 26.8% 300 Professional Services 846,706 873,715 848,691 941,729 93,038 11.0% 2.0% 400 Purchased Services 873,553 1,715,885 1,280,340 1,358,310 77,970 6.1% 2.9% 500 Other Purchased Services 5,200,910 5,812,604 6,067,421 6,023,602 (43,819) -0.7% 13.0% 600 Supplies 1,369,037 1,609,487 1,669,949 1,760,519 90,570 5.4% 3.8% 700 Property 1,022,059 127,280 304,225 251,100 (53,125) -17.5% 0.5% 800 Other Objects 1,763,069 1,367,724 1,630,944 1,592,332 (38,612) -2.4% 3.4% 900 Other Uses of Funds 4,113,881 2,062,831 2,874,188 3,037,284 163,096 5.7% 6.6% TOTAL EXPENDITURES 41,793,273 40,047,726 44,750,000 46,200,000 1,450,000 3.2% CAPITAL EXPENDITURE RESERVE (871,798) 1,200,000 EXCESS/(DEFICIT) OF REVENUE OVER EXPENDITURES 958,492 1,243,291 (2,260,000) (2,785,000) (525,000) ENDING FUND BALANCE $3,233,037 Real Estate Tax Millage 45.4050 46.4039 47.4107 48.2513 0.8406 1.8% Fund Balance % 16.8% 20.7% 13.4% 7.0% Act 1 Base Index 1.4% 1.7% 2.1% Act 1 Adjusted Index Allowable Exceptions $427,317 $278,915 $362,333 $436,345 Exceptions Used $0

What is in the Budget? Increase in salaries of 1.3% Eliminated two LTS positions PSERS rate increase from 16.93% to 21.40% Health insurance held flat at $6,500,000 Basic Ed subsidy decreased by $400,000 or 5% Special Ed subsidy held flat for 7th consecutive year Reduction of Federal monies by approximately 7% ABG is not budgeted; could be $169,000

OTHER FUNDS ATHLETIC FUND FOOD SERIVCE FUND Budget of $525,000. General fund transfer increased from $425,000 to $442,000. Added two assistant junior high soccer coaching positions. Using $15,000 of fund balance. FOOD SERIVCE FUND Budget of $1,567,000. Decrease of $18,809 in cost of food. PSERS increase of $26,511. Food service fund will be self-sufficient based on budget.

FOOD SERVICE – Ticket Prices 2014-2015 School Year Elementary Secondary Adult Breakfast Lunch Milk Bellefonte Area $1.00 $2.20 $2.50 $3.25 $0.50 Bald Eagle Area $1.10 $2.30 $3.60 Penns Valley $0.90 $2.00 $2.35 $3.00 State College $1.30 $2.40 $1.80 $2.95 Philipsburg-Osceola $0.85 $2.45 $3.20

AVERAGE HOMEOWNER Average Homeowner Assessed Value $49,504 Real Estate Tax Bill 2013 47.4107 mills $2,347.04 less projected homestead/farmstead credit 185.71 $2,161.33 Real Estate Tax Bill 2014 48.2513 $2,388.65 186.09 $2,202.56 Annual Change in RE Taxes for Avg. Homeowner $41.23 Monthly Change in RE Taxes for Avg. Homeowner $3.44

IF YOUR HOME IS VALUED AT: 2014-2015 INDEX of 1.8% 2014-2015 INDEX of 2.2% 2014-2015 INDEX of 2.7% Market Assessed RE Tax Gaming $$ $ chg. $50,000 $25,000 $1,206.28 $186.09 $20.63 $1,210.85 $25.20 $1,217.69 $32.04 75,000 37,500 1,809.42 186.09 31.14 1,816.27 37.99 1,826.53 48.25 100,000 50,000 2,412.57   41.65 2,421.69 50.77 2,435.38 64.46 125,000 62,500 3,015.71 52.16 3,027.11 63.56 3,044.22 80.67 150,000 3,618.85 62.67 3,632.54 76.36 3,653.06 96.88 175,000 87,500 4,221.99 73.17 4,237.96 89.14 4,261.91 113.09 200,000 4,825.13 83.68 4,843.38 101.93 4,870.75 129.30 225,000 112,500 5,428.27 94.19 5,448.80 114.72 5,479.59 145.51 250,000 6,031.41 104.69 6,054.23 127.51 6,088.44 161.72 275,000 137,500 6,634.55 115.20 6,659.65 140.30 6,697.28 177.93 300,000 7,237.70 125.71 7,265.07 153.08 7,306.13 194.14 325,000 162,500 7,840.84 136.22 7,870.49 165.87 7,914.97 210.35 350,000 8,443.98 146.73 8,475.92 178.67 8,523.81 226.56 375,000 187,500 9,047.12 157.23 9,081.34 191.45 9,132.66 242.77 400,000 9,650.26 167.74 9,686.76 204.24 9,741.50 258.98 425,000 212,500 10,253.40 178.25 10,292.18 217.03 10,350.34 275.19 450,000 10,856.54 188.75 10,897.61 229.82 10,959.19 291.40 475,000 237,500 11,459.68 199.26 11,503.03 242.61 11,568.03 307.61 $500,000 $250,000 $12,062.83 $209.77 $12,108.45 $255.39 $12,176.88 $323.82 RE Millage 48.2513 0.8406 48.4338 1.0231 48.7075 1.2968

MILLAGE COMPARISONS BALD EAGLE BELLEFONTE PENNS VALLEY STATE COLLEGE Mills % chg. Index 2008-09 39.76 41.08 37.87 33.72 2009-10 41.96 5.5% 5.7% 42.97 4.6% 5.4% 38.33 1.2% 5.2% 34.85 3.4% 4.1% 2010-11 43.68 44.61 3.8% 40.58 5.9% 3.7% 35.90 3.0% 2.9% 2011-12 46.55 6.6% 2.0% 45.41 1.8% 41.71 2.8% 36.85 2.6% 1.4% 2012-13 48.55 4.3% 2.4% 46.40 2.2% 43.23 3.6% 37.73 1.7% 2013-14 50.55 2.3% 47.41 0.0% 2.1% 38.75 2.7% 2014-15 52.5500 4.0% 48.2513 45.0182 39.5056 1.9%

BUDGET SCENARIOS State funds education at or above current (2013-14) levels: District can use $400,000 or more for either PSERS or Capital Projects or Deferred Maintenance items District can reopen budget and change Millage rate if bills have not been sent out yet Combination of the two depending upon the amount of the increase State funds education below budgeted levels: District would need to evaluate current programming and/or decrease planned expenditures District could also use Committed funds for PSERS to offset shortage District can reopen budget and change Millage rate if bills have not been sent out yet and/or use approved exceptions if needed