1. 2012-2013 GAP ANALYSIS Mary June King Business Administrator 1

2. 2009-2010 STATE AID REDUCED 746,653 FEDERAL AID TO FILL THE GAP $747,810 2

3. 2010-2011 STATE AID REDUCED $1,342,620 FEDERAL AID TO FILL THE GAP $455,857 3

4. 2011-2012 STATE AID REDUCED $1,534,652 FEDERAL AID TO FILL THE GAP $381,000 4

5. Revenue Gap Issues Diminishing State aid 2009-2010 = $ 746,653 (DRA) 2010-2011 = $1,342,620 (GEA) 2011-2012 = $1,534,652 (GEA) 2012-2013 = $1,800,000 (???) Loss of additional Federal aid 2009-2010 = $747,810 (ARRA) 2010-2011 = $455,857 (ARRA) 2011-2012 = $381,000 (EJF) 2012-2013 = $ (nothing yet proposed) 5

6. Revenue Gap Issues… Loss of assessed property value: AES Cayuga 2009-2010 = $160,000,000 2010-2011 = $130,000,000 2011-2012 = $112,500,000 2012-2013 = $ 110,000,000* *Negotiations are currently underway to further decrease this. 6

7. Other Caveats Appropriation of funds 2009-2010 = $ 368,000 2010-2011 = $1,371,000 2011-2012 = $1,942,000 Fund Balance 2009-2010 = $3,938,000 2010-2011 = $5,088,750 2011-2012 = $5,750,212 (new language) 7

8. Property Tax Cap Formula 8

9. ABCDE 11.12 Tax LevyGrowth Factor11.12 PILOTS2%12.13 PILOTS $ 13,955,2941.01$ 2,377,7191.02$2,232,980 [(A * B) + C] * D – E = TAX LEVY LIMIT TAX LEVY LIMIT + EXCLUSIONS = TAX LEVY LIMIT, ADJ. LCSD = $14,569,036 (4.4%) 9

10. Projected Revenue Gap (variable Appropriated FB) Revenue Source Anticipated 2011-2012 Projected 2012-2013 Difference State Aid6,471,311 0 Federal Aid30,000 0 Miscellaneous2,441,179499,4461,941,733 PILOTS2,377,7192,232,980144,739 Tax Levy13,955,294 0 Total$ 25,275,503$ 23,189,0312,086,472 10

11. Budget Projections Caveats ERS/TRS anticipate large increases again Health Insurance increase averages 7 – 8% Projections allow some increases based on spending Faculty Association contract open 11

12. Budget Projection Current budget: –$25,275,503 Projected budget –$27,059,181 –7.1% increase 54% of total increase = Employee Benefits 19% of total increase = EJF Funding Cliff 12

13. Projected Budget/Revenue 2012-2013 Gap: OCTOBER /11 Projected 2012-2013 $ 27,059,181 $ 1,783,678 Budget 2011-2012 $ 25,275,503$ 3,870,150 $ 2,086,472 Revenue for 2012-2013 $ 23,189,031 13