Public Schools of Petoskey Spring 2005 Budget Update

Current Projections with No Changes Revenue$23,620,886$23,078,401$23,815,352 Expenses$24,320,117$25,440,248$26,707,803 Profit / Loss($699,231)($2,361,847)($2,892,451) Expected Fund Balance $2,979,221$617,374($2,275,077)

Fund Balance Target – 4.3 Weeks of Expenses Projected Fund Balance $2,979,221$617,374($2,275,077) Target Fund Balance $2,000,000$2,136,981$2,243,455 Cuts/Revenue Needed -0-$1,519,607$4,518,532 Cuts if is Balanced $1,550,000

Submitted Cost Savings Ideas – Page 1 Cost Savings IdeaSavings Administration position$117,930 Teaching staff position (Non ESP)$64,690 Classroom aide position (177 work days)$26,680 Librarian position$87,859 Technology tech position (260 work days) $56,986 District nurse position$14,213 District social worker position$95,663 Note: Amounts shown are the total cost. That includes salaries and fringe benefits combined.

Submitted Cost Savings Ideas – Page 2 Cost Savings IdeaSavings Secretarial position (Avg 210 work days)$46,475 Non-union support staff position$44,591 Custodial position (260 work days)$49,236 Eliminate noon hour monitors$78,385 Health insurance changes$TBD Contract for substitute teacher calling$30,000 Privatize all support services K-12 (Est.)$898,885 Driver education program eliminated$34,698 Note: Amounts shown are the total cost. That includes salaries and fringe benefits combined.

Submitted Cost Savings Ideas – Page 3 Cost Savings IdeaSavings Art/Music/PE eliminated K-12$477,355 Community Ed eliminated$34,912 Offer only half day kindergarten$90,019 Reduce supply budgets 10%$110,000 Reduce transfer to Athletics$50,000 Eliminate non-grant conference fees$32,000 Reduce technology repair budget$16,278 Note: Amounts shown are the total cost. That includes salaries and fringe benefits combined.

Submitted Cost Savings Ideas – Page 4 Cost Savings IdeaSavings Eliminate transportation for field trips$37,846 Property/Casualty insurance changes$25,000 Eliminate 9-12 bussing$125,000 Savings per day school year is reduced$18,000 Teacher takes ESP, district replaces$30,546 Teacher takes ESP, not replaced (Gross) After expenses (Net) $95,258 $61,219 Note: Amounts shown are the total cost. That includes salaries and fringe benefits combined.

Timeline March 7: March 17: April 14: April 21: June16: ESP Closes Revised Projection to Board Budget reduction plan recommended Budget reduction plan discussed Budget reduction plan finalized FY Budget Approved

Questions

Understanding Funds General FundSinking Fund

What Are We Asking For? Renewal of 1.32 mills Lasts for 7 years Strictly for major repairs, renovations and / or property and property improvements

What Will We Do With The $$’s? Boilers & HVAC Windows & Doors Roofing Paving Plumbing & Electrical Exterior Repair Classroom Additions Auditorium Renovations Possible road access into & out of main campus