FY07/08 1st Interim

December 11, 2007

Changes from Original Budget to Projected Year Totals

Unrestricted Restricted Combined

Revenues

Original Budget

Carryover

New/Revised

Net Adjustments

FY07/08 Projected Year Totals

61,714,900

-

228,101

111,071

62,054,072

19,788,297

1,106,976

806,279

-

21,701,552

81,503,197

1,106,976

1,034,380

111,071

83,755,624

Expenditures

Original Budget

Carryover

New/Revised

Net Adjustments

FY07/08 Projected Year Totals

52,141,581

-

(302,666)

51,838,915

26,087,695

6,504,793

806,279

807,713

34,206,480

78,229,276

6,504,793

806,279

505,047

86,045,395

Changes from Original Budget to Projected Year Totals

Unrestricted Restricted Combined

Other Sources/(Uses)

Original Budget

Net Adjustments

FY06/07 Projected Year Totals

(6,735,304)

(614,377)

(7,349,681)

6,299,398

614,377

6,913,775

(435,906)

-

(435,906)

Net Increase (Decrease) in Fund Balance

Beginning Balance

Ending Balance

2,865,476

2,074,863

4,940,339

(5,591,153)

5,591,153

-

(2,725,677)

7,666,016

4,940,339

Components of Fund Balance

Unrestricted Restricted Combined

Ending Fund Balance

Revolving Cash

Legally Restricted

For Economic Uncertainties

Other Designations

Available Unrestricted Reserve

4,940,339

50,000

-

2,594,439

2,042,207

253,693

-

-

-

-

-

-

4,940,339

50,000

-

2,594,439

2,042,207

253,693

Multi-Year Projections Major Assumptions

Categories 2006-2007 2007-2008 2008-2009 2009-2010

Enrollment and ADA

District Enrollment (CBEDS) 9,9129,912 9,954 9,799 9,717

District ADA – Projected 9,485 9,512 9,355 9,288

District ADA – Funded 9,4859,485 9,512 9,512 9,355

Revenue

Revenue Limit COLA 5.92% 4.53% 4.30% 2.50%

Revenue Limit Deficits 0% 0% 0% 0%

Equalization Aid Per ADA $86.56 - - -

Base Revenue Limit $5,525 $5,777 $6,027 $6,179

Federal COLA 0% 0% 0% 0%

Other State COLA 5.92% 4.53% 4.30% 2.50%

Mandate Reimbursement $1.33M - - -

Multi-Year Projections Major Assumptions

Categories 2006-2007 2007-2008 2008-2009 2009-2010

Expenditures

Step and Column Salary Increases $0.83M $0.83M $0.83M $0.83M

FY05/06 Negotiated Salary Increase (4.7%) $5.1M $2.5M $2.5M $2.5M

FY07/08 Negotiated Salary Increase (2.0%) - $0.8M $1.1M $1.1M

FY08/09 Negotiated Salary Increase (4.0%) - - $1.9M $2.2M

Growth in Special Education Encroachment $1.22M $0.61M $0.50M $0.50M

Inflationary Increase - CPI 3.4% 2.6% 2.4% 2.7%

Indirect Cost Rate 2.93% 2.84% 3.22% 3.22%

Spending Reductions and Reallocations $0.8M $1.4M - -

Fund Balance

Mandate Reimbursement Set Aside - 1.08M 1.08M 1.08M

Multi-Year ProjectionsCategories 2006-2007 2007-2008 2008-2009 2009-2010

REVENUES      

Revenue Limit Sources 53,841,719 55,648,037 58,029,032 58,478,891

Federal Revenues 5,234,677 5,081,372 5,081,372 5,081,372

Other State Revenues 15,525,256 13,782,941 14,314,856 14,637,406

Other Local Income 9,967,270 9,243,274 9,127,718 9,127,718

Total Revenues 84,568,921 83,755,624 86,552,977 87,325,387

EXPENDITURES

Salaries & Benefits 66,452,044 67,144,452 70,022,181 70,863,743

Books/Supplies & Outlay 2,612,890 7,266,735 2,888,493 2,779,419

Services & Operating Expenses 9,384,991 10,940,234 10,540,822 11,305,424

Other Outgo & Transfers 2,251,760 1,518,974 1,518,974 1,518,974

Total Expenditures 80,701,685 86,870,395 84,970,470 86,467,560

Other Sources (Uses) (579,249) (435,906) (435,906) (435,906)

Net Inc/Dec in Fund Balance 3,287,987 (3,550,677) 1,146,602 421,920

BEGINNING BALANCE 4,378,028 7,666,016 4,115,339 5,261,940

ENDING BALANCE 7,666,016 4,115,339 5,261,940 5,683,861

Components of Fund Balance

FY06/07 Actuals

FY07/08 Projection

FY08/09 Projection

FY09/10 Projection

Ending Fund Balance 7,666,016 4,115,339 5,261,940 5,683,861

Revolving Cash 50,000 50,000 50,000 50,000

For Economic Uncertainties 2,438,428 2,619,189 2,562,191 2,607,104

Legally Restricted Balance 5,591,153 - - -

For Other Designations

Mandate Cost Reimbursement - 1,080,000 1,080,000 1,080,000

P2 ADA - 137,207 - -

Available Unrestricted Reserve (413,565) 228,943 1,569,749 1,946,757

Local6%

Revenue Limit86%

Other State8%

Federal0%

Unrestricted Revenue

Personnel

Non-Personnnel

Unrestricted Expenditures

Insurance15%

Rentals, Leases, and Repairs

2%

Professional Services & Operating Expenditures

18%

Operation & Housekeeping Services

44%

Non-Capitalized Equipment

1%

Materials & Supplies

12%

Travel & Conferences2%

Dues & Memberships1%

Books & Other Reference Materials

0%Communications

5%

Unrestricted Non-Personnel Expenditures

Outstanding Issues that Could Impact the Budget

• State Budget

• Average Daily Attendance (ADA)

• Other Post Employment Benefits (OPEB)

• Negotiations

Components of Fund Balance

FY06/07 Actuals

FY07/08 Projection

FY08/09 Projection

FY09/10 Projection

Ending Fund Balance 7,666,016 4,115,339 5,261,940 5,683,861

Revolving Cash 50,000 50,000 50,000 50,000

For Economic Uncertainties 2,438,428 2,619,189 2,562,191 2,607,104

Legally Restricted Balance 5,591,153 - - -

For Other Designations

Mandate Cost Reimbursement - 1,080,000 1,080,000 1,080,000

P2 ADA - 137,207 - -

Available Unrestricted Reserve

(413,565) 228,943 1,569,749 1,946,757

If 3% COLA - Available Unrestricted Reserve 228,943 809,359 415,939

If 2% COLA - Available Unrestricted Reserve 228,943 224,443 (761,613)

Food and Nutrition ServicesMulti-Year Projections

Categories2007-2008 2008-2009 2009-2010

MAJOR ASSUMPTIONS

Lunch Reimbursement Rates

Federal

Free 2.24 2.24 2.25

Reduced 1.84 1.84 1.85

Paid 0.25 0.25 0.25

State – Free & Reduced Only 0.2195 0.2195 0.2295

Commodities Dollars

Meals Served

100K

589,519

105K

600,000

115K

610,00

Capital Improvements 70K 75K 75K

Food and Nutrition ServicesMulti-Year Projections

Categories 2007-2008 2008-2009 2009-2010

REVENUES      

Federal Revenues 1,353,278 1,355,898 1,358,398

Other State Revenues 126,842 127,000 128,500

Other Local Income 686,903 710,485 742,985

Total Revenues 2,167,023 2,193,383 2,229,883

EXPENDITURES

Salaries & Benefits 1,136,750 1,187,904 1,199,783

Food and Supplies 832,657 800,000 820,000

Services & Operating Expenses 40,992 20,000 30,000

Capital Outlay 70,000 75,000 75,000

Other Outgo & Transfers 100,507 97,208 99,992

Total Expenditures 2,180,906 2,180,112 2,224,775

Other Sources (Uses) - -

Net Inc/Dec in Fund Balance (13,883) 13,371 5,108

BEGINNING BALANCE 184,474 170,591 183,962

ENDING BALANCE 170,591 183,962 189,080