1. February, 2012

2.  Cash & Authority must be minimally maintained.  Staffing = Possible additional needs in 2012-13 +($600,000)  Legislative Unknowns: 13-14 Allowable growth????? Educational Initiatives introduced by Governors office 2

3.  Undesignated, Unreserved General Fund Balance (Cash)  The District’s goal for its undesignated, unreserved general fund balance at June 30 is a minimum of 15 percent of that year’s revenue. The District will certify annually a cash reserve levy if needed to reach and/or sustain the desired fund balance. A fund balance of a minimum of 15 percent enables the District to achieve the highest possible credit ratings from rating agencies, such as Moody’s and Standard and Poors. Higher credit ratings are directly related to lower interest rates on long-term debt issued by the District. Sufficient fund balances also eliminate short-term borrowings and related interest expense in the general fund and protect the District if the State of Iowa reduces funding mid-year. A report on meeting this target will be made annually to the Board. 3

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5.  Basic Calculation: Current year (11-12) Funding Per Pupil $5,883 2012-13 Allowable Growth Rate = 2% 2013-14 Allowable Growth Rate = 0% ??? (Regular Program Calculation-current year) Current 4,382.3 X $5,883 = $25,781,071 ================================= Budgeted Enrollment 2012-13: 4,507.9 12-13 calculation 2% 4,382.3 X $6,001 = $27,051,908 (+$1,270,837) 5

6. Used to account for all financial resources except those required to be accounted for in another fund. 11-12 Levy = $ 12.80690 Estimated 12-13 Levy = $12.41147REVENUESEXPENDITURES State Aid Formula Salaries/Employee Benefits Property taxes (-Nutrition & Daycare) Tuition/Open Enroll. Supplies/Instructional Material Miscellaneous Income *May also be used for Buildings, (Federal and State Targeted) Equipment, Land, if not through Cash Reserve Other funds such as PPEL 6

7. Special Revenue Fund, Must be established in Districts receiving $’s from student-related activities. Athletics, Student Council, Music groups, Yearbook, Student clubsREVENUESEXPENDITURESAdmissions Activity Travel Activity Passes Officials/Referees/Umpires Family Passes Supplies/Uniforms Interest Income Entry Fees Balance Carryover Bus Driver Salaries 7

8. Special Revenue Fund Established for the purpose to pay the cost of unemployment benefits, early retirement benefits, & Liability Insurance and judgments/settlements related to Liability. 11-12 11-12 Levy = $ 0.77479 Estimated 12-13 Levy = $0.77894REVENUESEXPENDITURES Property Tax Levy Liability & Property Insurance Interest Income Workers Comp. Insurance Balance Carryover Automobile Insurance Early Separation Program 8

9. Special Revenue Fund Established for: Facilities and Grounds, Maintenance, Equipment. Levy = Voted $.67 Regular $.33REVENUESEXPENDITURES Property Tax Levy Construction Regular Voter Approved Equipment Building Repairs Balance Carryover Capital Loan Note Payment Investment Interest School Busses 9

10. Established Infrastructure Projects. Currently: Buildings & Grounds, Property Tax Relief through Debt LevyREVENUESEXPENDITURES Bond Sales Purchasing, Building, Furnishing Interest Income Repair and Remodel Grants/Donations Land Purchase and Preparation SILO/SAVE Revenues SILO/SAVE Revenues 10

11. Must be Established if Bonds or Other authorized indebtedness 11-12 Levy = $ 1.98438 Estimated 12-13 Levy = $2.29201REVENUESEXPENDITURES Property Tax Levy Principal and Interest Interest Income Debt Service Expense Balance Carryover Legal Services 11

12. “Enterprise” Fund that must be established at all Public SchoolsREVENUESEXPENDITURES Food Sales to Students/Adults Salaries and Benefits Interest Income Food State/Federal Subsidies Supplies and Equipment Special Functions 12

13. “Enterprise” Fund that must be established if the District is receiving moneys from child care program(s).REVENUESEXPENDITURESFees Salaries and Benefits Interest Income Food State/Federal $’s (Opportunity I) Supplies and Equipment Printing Bus Drivers (Field Trips) 13

14. “Enterprise” Funds that may be established. Vending Funds, Summer Camps, School Stores, TV StudioREVENUESEXPENDITURES Fee based School Store Supplies Purchases Vending Items Supplies 14

15. “Internal Service” Fund that may be established.REVENUESEXPENDITURES Charges against other funds Supplies Printing Maintenance/Parts Equipment (copiers) 15

16. Funds that may be established for the purpose of accounting for assets held in a trustee capacity. Foundation $’s, Parent Groups, Booster Club, Music ParentsREVENUESEXPENDITURESFundraisersSupplies Investment Interest Printing Carryover Balance Field Trips Donations Playground equipment Bus Drivers (trips) 16

17.  Residential Rollback has increased the past two years.. Future? 46.91% to 48.53% (2011-12) ($100,000 home = $48,530 taxable) 48.53% to 50.75% (2012-13) ($100,000 home = $50,750 taxable) 50.75% to ??? (2013-14) ($100,000 home = $???? taxable) what is this? The portion/% Home owners pay on the assessed value of their residential property…  Property Valuations … *See attached Valuation History Sheet  Desired cash Reserve Levy to maintain current cash level ($1.5M)  Management fund levy at ($1.2M)  $2.0M Debt Service Property tax relief continues  Budget Calculations for the 2012-13 fiscal year in March 17