1. Fairbanks Local Schools Financial Update May 15th, 2017
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2. Revenues (General Fund)
General Property Tax
(Residential, Ag. (CAUV), Commercial) (20 Mill Floor + 8 Mill Emergency)
State Aid
(# Students, Property Wealth # Students, $6,000 Formula Aid)
Income Tax
(.75 Income Tax for Operations)
Property Tax Allocation
(12.5% Homestead/Rollback)
Personal Property Tax
(Utility Property in District)
Other
(Open Enrollment, Interest, Fees, Donations)

3. Expenditures (General Fund)
Salaries & Wages (Personal Services)
(118 Full & Part-time Employees)
Retirement/Benefits
(STRS & SERS, Health, Dental, Life)
Services
(Tuition, Contract Services, Internet, Copier, Electric, Maintenance
Repairs, Natural Gas, Bus Repairs, Prof. Development, Special Ed.
Services, Special Ed. scholarships)
Supplies
(Maintenance Supplies, Bus Supplies, Fuel, Instructional Supplies)
Capital Outlay/Equipment
(Busses, Technology, Furniture, Building Improvements)
Other
(County Auditor/Treasurer Fees, Audit Fees, ODT Fees, Insurance)

4. Five-Year Financial Forecast
Total Revenues ,176, ,163, ,235, ,499, ,724,460
Total Expenditures ,984, ,384, ,810, ,183, ,470,208
Operating Surplus/ , , , ,683, ,745,748-
Deficit (less Renewal)
Operating Deficit , , , ,066,748-
(with Renewal)
Cash Balance ,098, ,877, ,302, ,618, ,906
(Without Renewal)
Cash Balance ,098, ,877, ,302, ,458, ,311,406
(With Renewal)

5. Key Assumptions
Flat to slow revenue growth, both in State Aid and Property Valuation
Some decrease in open enrollment, but open enrollment still avg.
approx. $700,000 in revenues
Overall slow growth in Revenues
No increases in staffing
No significant increase in capital improvements from General Fund
Medical Insurance increasing 5-6%
No significant increase in scholarships, vouchers, or open enrollment

6. Summary
Overall current financial health is good considering cash reserve.
Financial Forecast is a tool that changes almost daily.
Expenditures most likely to outpace revenues over time.
State Funding still a question mark. Flat funding to 5.5% Growth.
State deductions still a big concern (Vouchers, Scholarships, CCP)
Emergency Levy will need to be renewed no later than November,
Can be put on in May November 2019.
Levy is currently set at $1,679,000. Approximately 8 mills.
Spring of 2018 will bring a better idea on planning for the next
5-year levy cycle.