Estimated Final Budget 12/13 Projected Budget 13/14

Estimated Budget Revenues as of May 20, 2013

 Local Sources – tax dollars ◦ School Pines $9,  State Sources – foundation ($6,966) + one time categoricals  Federal sources ( Title I A; Title II A) Carryover in Federal Funds + Title VI = $81,093  ISD Special Education Room + SPED Reimbursement + Preschool = $219,911 Estimated Budget Revenues as of May 20, 2013 Revenue Detail

Total Expenditures 7,957,429 Excess (Deficiency) of Revenues Over (Under) Expenditures (329,343) Transfers from Other funds 10,000 Net Change in Fund Balance (319,343) Beginning of Year Fund Balance 930,170 End of Year Projected Fund Balance 610,827 Estimated Budget Expenditures as of May 20, 2013

 Estimated Budget Revenue as of May 20, 2013  $7,628,086  Estimated Budget Expenditures as of May 20, 2013  $7,957,429  Expenditures over Revenue = (329,343) + $10,000 transfer from other funds = (319,343)

MDE updated this amount at the end of last week the allocation is$36,220 less than what is in this budget

 -456,500

Revenue Changes from to  Projected Student Count – 875 for fall; Declining enrollment of 37 students for lost revenue of $236,430  Foundation used is $7,100 - right now we are being told the foundation will actually be $6,966  Eliminated MPSERS Offset – Lost revenue of $85,849  Eliminated Performance-Based Funding – Lost Revenue of $37,795  Eliminated Best Practices – Lost Revenue of $47,365  Reduction in Federal Consolidated Grant Funds - $36,220  Preschool Savings of $20,000 - $25,000

Expenditures = $7,789,216 Total Expenditures 7,789,216 Excess (Deficiency) of Revenues Over (Under) Expenditures (617,630) Transfers from Other funds 10,000 Net Change in Fund Balance (607,630) Beginning of Year Fund Balance 610,827 End of Year Projected Fund Balance 3,197 Projected Expenditures as of May 20, 2013

Expenditure Changes from to Retirement Rate 24.79% (average) Includes 7-12 Principal hire budgeted: $120,000 Replaced two retires with BA Step 1 and Family Insurance One teacher not replaced Teacher salaries outside the parentheses; step increases; lane changes and + status changes; longevity 0% salary/wage increase for all other employees Insurance Hard Cap increases Difference between and Expenditures = (168,213) Plus the budget has $175,000 in reductions

Take the difference between the projected final budget 2013 revenues and the projected 2014 revenues ($456,500) Add to it the net change in fund balance or difference between revenues and expenditures for 2013 ($319,343) The result is the amount of projected fund equity to be spent if we did everything next year the same as this year --- ($775,843)

Enrollment History 2005 through 2013

We have less students – In we had 1160 students. In we estimate 875 students. This is a -24.5% change We have less teachers – In we had 71 teachers. In we estimate teachers. This is a -20.7% change We had employees in In we estimate This is a -25.1% change Total Revenues in the year ending June 30, 2005 were $8,713,615 Total Expenditures in the year ending June 30, 2005 were 8,554,820

United State Department of Labor – Bureau of Labor Statistics provides this information: The Foundation Grant for , was$7085 and is comparable to our current foundation of $6966. If we compared this rate with inflation we would find that we would need a foundation grant of $7812 To have the same buying power. The CPI inflation calculator uses the average CPI for each calendar year.

What difference would this make? $846 more per student That would equate to $740,250 dollars.