1 Quarterly Budget Update Michael E Finn February 23, 2012

Prior Year’s Assumptions Three Year Projections M&O Summary Transportation Capital Next Year’s Assumptions 2 Discussion Points

Soft Capital – 80% bottom line reduction ($6.5m) Actual $8.0M EduJob Funds – 50% expended in to replace state reductions ($3.4m) Actual $5.0M CORL reduction of $62 per student ($2.8m) Actual $6.6M ADM – decline in student enrollment of 545 ($2.1m) Actual $2.5M 3 Last Year’s Assumptions-Worse than Plan

Last Years Assumptions – Better than Plan Prop 301 – estimate new monies at $51/student ($2.4m) Actual $120/Student Health Insurance ($1.5m) Actual $.80M Transportation Limit – elimination of floor ($440k) Actual $0.0M Gaming – 5% reduction in revenue ($110k) Actual $100k State Grants – overall 10% funding reduction ($50k) Actual $25K

Career Ladders – implement phase-out ($1.6m) Actual $1.6 ARRA – expire without replacement ($1.3m) Actual $1.3M ASRS increase of.9% to 10.75% ($1.25m) Actual $1.25M 5 Last Years Assumptions – No Change

6 In Millions Projected Actual Funding M&O$ $ $ CSF Carry Forward$3.70 $ - CORL$9.50 $6.60 $2.80 Soft Cap$1.20 $0.80 $0.00 Contingency$7.80 $16.80 $16.00 EduJobs$6.80 $ - Total$ $ $ Expenses M&O$ $ CORL$1.10 Soft Cap$4.20 $2.70 EduJobs$3.50 $0.00 ASRS $ - $1.20 VSMG $ - $0.80 Utilities $ - $0.16 Prop Backfill$3.70 $0.00 Total$ $ $ Reductions Staffing $ - $1.60 $0.00 Career Ladders $ - $1.60 Total0 $3.20 $1.60 Carry Forward$16.80 $14.94 $7.44

M & O Regular and Special Education

Regular Education tracking higher than plan Special Education tracking to plan Transportation tracking to plan Year end projections $2.0M higher than plan -Some positions funded through ARRA remained -Additional certified positions to address class sizes per policy M&O Summary

Regular and Special Education is projecting a total annual spend of $183,364,828 assuming an additional $1.7 million in spending that is allocated, but not yet encumbered. – $1.0 million in salaries – $270K in benefits – $250K million in Purchased Services Current encumbrances very high – $180K in Supplies and Fees Currently tracking 1.1% above plan M&O – Regular and Special Education Projections thru FY2012

TRANSPORTATION

Transportation is projecting a total annual spend of $7,575,706 assuming an additional $1.9M in spending that is allocated but not yet encumbered. – $800k in salaries – $216K in benefits – $125K in Purchased Services – $750K in Supplies and Fees ($550k fuel) Transportation Projections thru FY2012

CAPITAL Soft and Unrestricted Capital

Allocation of $18.83 million – $3.4 million expended and $400k encumbered – $590k allocated to departments for capital expenditures – $7 million required to balance budget Balance remaining $7.44 million Capital

Increase in healthcare expense of $2 million Increase in ASRS of $1.78 million Increase in utilities expense of $800K Increase in fuel expense of $300K 14 General Expense Assumptions for FY13

Move on When Reading $2.34M SFB Funds (imbedded in CORL) $1.3M One Time Soft Capital Add Back $3.2M CORL EduJobs Backfill $1.56M Prop 301 Funding at $219 per Student 15 General Revenue Assumptions for FY13 (Governor)

16 In Millions ProjectedRevised No Sales Tax Funding M&O$ $ $ CSF Carry Forward $ - CORL$5.20 $4.50 $5.20 Soft Cap$0.80 $1.20 $0.80 Contingency$14.94 $7.44 $0.11 EduJobs $ - Total$ $ $ Expenses M&O$ $ CORL$1.10 Soft Cap$4.20 EduJobs $ - ASRS$1.00 $1.78ACR $ - VSMG $ - $2.00 $ - Utilities$0.80 Prop Backfill $ - Total$ $ $ Reductions Staffing$8.00 $5.25 $18.56 Career Ladders$1.60 Total$9.60 $6.85 $20.16 Carry Forward$12.54 $0.11 $0.07

QUESTIONS 17