1. Indiana’s Education Roundtable 9/28/05 Indiana’s Education Roundtable ‘District Efforts to Move Resources to Learning’ Presented by Thomas W. Thornton, Chief Financial Officer Vigo County School Corporation Daniel T. Tanoos, Superintendent

2. Indiana’s Education Roundtable 9/28/05 Vigo County School Corporation Demographic Information  County-Wide School Corporation  16,427 Students in:  18 Elementary Schools  6 Middle Schools  2 Alternative High Schools  3 High Schools  6 th Largest School Corporation in State

3. Indiana’s Education Roundtable 9/28/05 Vigo County School Corporation Demographic Information  Total Budget – Tax Supported Funds: $137,229,000  General Fund Budget - $107,796,000

4. Indiana’s Education Roundtable 9/28/05 VCSC Financial History  5-Year Cycle of Rise & Fall  “A Roller Coaster Ride”

5. Indiana’s Education Roundtable 9/28/05 Cash Balance History

6. Indiana’s Education Roundtable 9/28/05 Cost Conservation Program  Public Hearings  Several Drafts Presented by Administration, Teachers, Board Members

7. Indiana’s Education Roundtable 9/28/05 Alignment of Needs With Resources  Line Item Evaluation  Evaluation Criteria:  Impact on the Classroom  Impact on Delivery of Instruction  Compliance Requirements  Safety and Security of Students and Staff

8. Indiana’s Education Roundtable 9/28/05 Funding Alternatives  Funding Alternatives for Essential Spending  Transfers to Capital Projects Fund  Possible Funding Alternatives

9. Indiana’s Education Roundtable 9/28/05 Program Implementation  Board Adopted Program January, 1998  Funding Alternatives Implemented  Program Monitoring Established

10. Indiana’s Education Roundtable 9/28/05 Cash Balance Goal  Board Adopted Year-End Cash Balance Goal  Minimum of 8% of Annual Budget

11. Indiana’s Education Roundtable 9/28/05 Financial Management Restructure  Site Based Budgets  Develop “Ownership” Mentality  Move Away From “Use It or Lose It” Mentality

12. Indiana’s Education Roundtable 9/28/05 Cash Balance Forecast  Initially for Business Office Use Only.  Financial Information Must Be Shared to Establish Credibility –  Share Forecast With:  Board Members  Administrative Team  Teachers  Support Staff

13. Indiana’s Education Roundtable 9/28/05 Cash Balance Forecast  Formation of Cash Balance Forecast Committee:  Superintendent, Deputy Superintendent, Directors of Elementary & Secondary Education, Human Resources, Purchasing, Facility Support, & Transportation, Teachers’ Union Representation, CFO, Deputy Treasurer, Building Principals.

14. Indiana’s Education Roundtable 9/28/05 Cash Balance Forecast Format Expenditure Projections:  Object Level vs. Functional Level  Ease in understanding  Functional uses/type of expenditures  Cost containment/conservation issues

15. Indiana’s Education Roundtable 9/28/05 Forecast Mechanics:  Cash Management Improvement  Projection of Year-End Cash Balance  Borrowing implications  Early indication of cash flow deficiencies  Negotiation Implications

16. Indiana’s Education Roundtable 9/28/05 Other Implications:  Used for other tax-supported funds (Transportation Fund)