BUDGET PREPARATION: FISCAL ANALYSIS Mary June King Business Administrator October 27,

DYNAMIC BUDGET IMPACT FACTORS (Revenue) State Aid Reductions 746,6531,342,6201,534,6521,311,8331,297,301 ??? ($1.3M) Additional Federal Aid 747,810 (ARRA) 747,857 (ARRA) 381,000 (EJF) 000 AES PILOT Value 160 M130 M112.5 M86.25 M74M60M Approp368,0001,371,0001,942,0002,046,7281,265,000??? Reserves (no capital) 500,0211,473,5491,640,4271,459,0791,461,017??? 2

WHERE THE MONEY COMES FROM TAXES (+ STAR) %60.84 %49.93 %52.25 %55.21 %57.71 % PILOTS STATE & FED AID GRANTS CHARGES USE OF MONEY OTHER : AES becomes PILOT; State Aid reduced, Federal increased 2010: AES modified; S.A. reduced, Federal decreased 2011: AES modified; S.A. reduced, Federal ‘eliminated’ 2012, 2013: AES modified each year; S.A.

ACTUAL REVENUES 2008 – 2013 (General Fund Budget) BUDGET22,838,91223,944,31524,377,90625,275,50326,000,000 STATE AID7,176,0266,383,2456,353,8946,342,6736,617,084 FED AID17,7271,051,482455,8476,37542,367 MISC2,705,802784,8011,124,3871,377,172829,427 PILOT281,864233,9452,677,3152,509,7432,209,645 TAXES14,894,06515,551,68813,351,15713,954,45114,724,972 ACTUAL25,075,48424,005,16123,962,60024,190,41424,423,495 Actual-to-actual % change(4.27%) (0.17%)0.95%0.96% TAX RATE $ 17.76$ 17.60$ 18.48$ 19.10$

HOW THE MONEY IS SPENT INSTRUCTION73.97 %74.83 %75.13 %75.62 %77.30 %77.46 % GENERAL SUPPORT TRANSPORTATION LT INTEREST SCHOOL LUNCH SACCP Note Instruction growing as total % of budget Note LT Interest decrease (mostly from re-funding serial bond) School lunch decrease = increased efficiency in operations

ACTUAL EXPENSES 2008 – 2013 (General Fund Budget) BUDGET 22,838,912 23,944,31524,377,90625,275,50326,000,000 GENERAL SUPPORT 2,644,7582,835,2622,668,6422,567,4292,708,010 INSTRUCT11,473,04012,157,94012,158,10712,237,38712,212,704 TRANSP870,227976,931827,451875,963915,554 UNDSTR6,920,5536,813,7277,860,8648,509,6418,442,445 EXPENSES21,908,57922,783,86023,515,06424,190,42024,278,713 Actual-to-actual % increase4.0 %3.21 %2.87 %0.36 % 6

Projected Revenue Gap Revenue Source Budgeted Projected Difference State Aid7,024,3846,824,384(200,000) Federal Aid10,000 0 Miscellaneous1,954,948689,948(1,265,000) PILOTS **1,985,8281,696,580(289,248) Tax Levy **15,561,136 Total26,536,29624,782,048(1,754,248) **To maintain the COMBINED tax levy at a constant amount, the tax rate would have to increase to $21.04, a 1.7% increase 7

Budget Projections Caveats ERS will decrease slightly from 20.9 to 20.1 cents per dollar paid TRS increase is unknown; will project increase from to 21 cents per dollar paid Health Insurance increase for 13/14 was 6%; will project at increase of 7.5% Only LASO (Admin) contract outstanding for

RESERVES AND UNASSIGNED 2014 FYE 2013 ERS Reserve455,979 EBAL Reserve407,704 Tax Cert Reserve402,591 Unemployment Reserve194,743 SUBTOTAL (RESTRICTED)1,461,017 Unassigned FB (> 4% by $276,326) 1,337,778 SUBTOTAL FUNDS ‘AVAILABLE’2,798,795 9