Public Hearing June 23, 2009 Berkeley County School District FY General Fund Budget

FY Estimated General Fund Revenue

ESTIMATED REVENUE Berkeley County Schools FY ) REVENUE FROM LOCAL SOURCES Estimated tax local revenues from millage (6% property and above) $ 57,666,272 Revenue from fees- in lieu of taxes7,254,716 Investment earnings250,000 Miscellaneous other revenue500,000 Taxable Reimbursement 1,200,000 TOTAL LOCAL SOURCES$ 66,870,988

ESTIMATED REVENUE Berkeley County Schools FY ) REVENUE FROM DIRECT FUNDING SOURCES Education Finance Act$ 61,055,098 Bus Driver Salary and Fringe1,313,630 Employee Contributions21,127,131 Retiree Insurance2,850,837 Teacher Salary Increase and Related Fringe3,420,915 High School Diploma649,356 Reimbursement for Property Tax Relief7,891,272 Homestead Exemption1,877,147 Sales Tax Swap for Owner Occupied21,318,172 Merchants’ Inventory245,768 Manufacturers’ Depreciation1,349,058 TOTAL DIRECT FUNDING SOURCES$ 123,098,384

ESTIMATED REVENUE Berkeley County Schools FY ) REVENUE FROM FEDERAL IMPACT AID Impact Aid$ 500,000 TOTAL FEDERAL SOURCES (Military)$ 500,000

ESTIMATED REVENUE Berkeley County Schools FY ) REVENUE FROM INDIRECT COST ASSESSMENTS to FEDERAL PROGRAMS & GRANTS Indirect Cost$ 988,000 TOTAL FUNDING FROM INDIRECT COST$ 988,000

ESTIMATED REVENUE Berkeley County Schools FY ESTIMATED GENERAL FUND 1) REVENUE FROM LOCAL SOURCES$ 66,870,988 2) REVENUE FROM DIRECT FUNDING SOURCES123,098,384 3) REVENUE FROM IMPACT AID 500,000 4) REVENUE FROM INDIRECT COST ASSESSMENTS to FEDERAL PROGRAMS & GRANTS 988,000 TOTAL REVENUES$ 191,457,372

FY Estimated General Fund Expenditure

FY Reminders About Items Included in the Proposed General Fund Budget  Teacher and Staff Allocations as presented previously with a 0% salary increase and detailed in your budget binders. This still does equate to an average increase of 2 percent due to step increase.  Operational budgets increased due to school level expenditures primarily due to:  Cane Bay High School Adding the 11 th Grade ;  Cane Bay Elementary – New School  Utilities

ESTIMATED EXPENDITURES FY Estimated General Fund Budget ESTIMATED REVENUES Category FY Approved Budget YTD Revenues May 31, 2009 Balance and Percent Received Revenue from Local Sources $ 63,043,341$ 60,854,669$ 2,188,672 (97%) Revenue from Direct State Aid 127,178,469103,628,32323,550,146 (82%) Revenue from Federal Sources 1,914,527909,3871,005,140 (47%) TOTAL EXPENDITURES $ 192,136,337$ 165,392,379 $ 26,743,958 (86%)

ESTIMATED EXPENDITURES FY Estimated General Fund Budget ESTIMATED EXPENDITURES Category FY Approved Budget YTD Expenditures May 31, 2009 Balance and Percent Spent Instructional Salaries & Fringe $ 110,059,206$ 84,397,672$ 25,661,534 (76%) Support Salaries & Fringe57,145,58646,997,02710,148,559 (82%) Operational Cost24,931,54519,235,0645,696,481 (77%) TOTAL EXPENDITURES $ 192,136,337$ 150,629,763 $ 41,506,574 (78%)

ESTIMATED EXPENDITURES FY Estimated General Fund Budget ESTIMATED EXPENDITURES Category FY Estimates Adjustments FY Total Estimated Budget Instructional Salaries & Fringe$ 110,533,056 $ (1,788,658) $ 108,744,398 Support Salaries & Fringe56,880,141(2,191,384)54,688,757 Operational Cost30,907,940(2,883,723)28,024,217 TOTAL EXPENDITURES$ 198,321,137$ (6,863,765)$ 191,457,372

Explanation of Budget Adjustments Adjustments $2,191,385 Reorganization 2,883,723 Transferring of Capital Improvement and Maintenance Items to Capital Expenditures 1,788,658Use of Flexibility Note: Some of the original adjustments included the use of furloughs. However, Once the supreme court ruled we were able delete that from this scenario. There are other adjustments that are not listed above that include further use of flexibility that will hopefully will enhance our ability to weather any sort of budget cuts for the school year or possibly add to fund balance. We are examining those strategies and will report back to the board.

Difference of General Fund Revenue and Expenditures Revenue$ 191,457,372 Expenditures $ 191,457,372 Difference$ (0) FY MAINTAIN * Proposed Expenditures to MAINTAIN the School District’s Current General Fund Programs

Questions ? orDiscussion