School Board Meeting May 26, 2015 Updated 5/27, 2015

 The Final Budget for the general fund indicates the following: Projected Expenditures$96,261,842 Projected Revenues$89,419,372 Anticipated use of Fund Balance$ 6,842,470  The Final Budget includes a tax increase of.4125 Mills for a total Millage rate of The maximum allowed by the Act 1 index of 1.9% 2

 Committed to Employer Retirement Rate Stabilization$1,171,005  Committed to Capital Projects$ 978,068  Committed to Facilities Initiatives (Ithan & Wayne)$4,473,498  Unassigned Fund Balance$ 219,899 $6,842,470 3 The Final Budget includes the following uses of Fund Balances:

4 Revenues were revised from the Proposed Final Budget approved by the Board on April 28, Changes to revenues resulted in the following:  Rental Revenue – Ithan ($ 20,000)  Property Tax Reduction – State Subsidy ($ 108)  Committed Fund Balance – Capital Projects ($1,615,818)  Committed Fund Balance – PSERS ($1,171,005)  Unassigned Fund Balance (Storage Area Networks & Desktops) ($ 219, 899) ($3,026,830)

5 Expenditures were revised from the Proposed Final Budget approved by the Board on April 28, Changes to expenditures resulted in the following:  Revisions to Contingency for Personnel($ 187,791)  Revisions to the Capital Plan($ 191,093)  Reductions to High School and Middle School ($ 52,218)  IU Fair Share ($ 34,160)  Approved Private School Tuition ($ 100,000)  Revisions to Contingency for Personnel($ 92,596)  Transfer to Capital Reserve $4,473,498 $3,815,640

RevenueDifferenceExpendituresDifference Draft Budget – December 2014 $90,989,115$94,449,564 Preliminary Budget – April 9, 2015 $90,660,985($328,130)$92,685,500($1,764,064) Proposed Final Budget – April 28, 2015 $92,446,202$1,785,217$92,446,202($239,298) Final Budget – May 26, 2015 $89,419,372($3,026,830 ) $96,261,842$3,815,640* * $4,473,498 Transfer to Capital Projects and $657,858 in Reductions 6

Thank You 7