Plumas Lake Elementary School District
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Transcript of Plumas Lake Elementary School District
Plumas Lake Elementary School District
2013-14 Budget Adoption PresentationJune 20, 2013
Each student will reach their fullest potential as we strive for District excellence through sound leadership, effective communication, accountability, and investment in our staff.
Financial Reporting Cycle• Budget is developed based on assumptions in June;• Assumptions are usually based on the information in the May Revise
• Assumptions change during the year and we are required to file two interim reports during the year:• First Interim – Due December 15, 2013• Second Interim – Due March 15, 2014
• Budget Timeline:• Governor released his Budget Proposal for 2013-14 in January• Governor released the May Revise in May, which is based on updated
revenue and expenditure data• Legislature met its constitutional deadline and passed the 2013-14
budget and trailer bills on June 15 • Changes how schools receive State Aid – Local Control Funding Formula
• Every district has a unique target base grant that will restore funding to 2007-08 funding levels
• Districts will move toward the target each year• Governor will sign or veto budget bill• We won’t have budget details until July 2012
• Annual financial reporting:• Budget Adoption – Due July 1, 2013 • First Interim – Due December 16, 2013• Second Interim – Due March 17, 2014• Unaudited Actuals – Due September 15, 2014
Budget developme
nt is a continuous
process
General Fund – Fund 01
Budget Assumptions
2012-13 Budget atSecond Interim
2012-13 Estimated Actuals – Budget Development
2013-14 Budget Development
Statutory COLA 3.24% 3.24% 1.565%
Deficit Factor 22.272%$0.77728 per $1.00
22.272%$0.77728 per $1.00
18.997%$0.81003 per $1.00
Revenue Limit (RL) w/ COLARL w/ deficitLoss per ADA
$6,912.36$5,372.84$1,539.74
$6,912.36$5,372.84$1,539.74
$7,013.26$5,680.95$1,332.31
State Categorical ProgramsCOLA
0 0 0
Ed Jobs Funds ($222,813 final entitlement)
$12K $12K
Federal Funds COLA 0 0 0
Average Daily Attendance (ADA) 1045 K-8 plus 6.19 County – 1051.19
1050.5 K-8 plus 6.68 County – 1056.68
1050.5 K-8 plus 6.68 County – 1056.68
Lottery BaseLottery Prop 20
$124.25$30.00
$124.00$30.00
$124.00$30.00
Budget Assumptions (continued)
Set aside five percent for economic uncertainty
Commit funds for one Certificates of Participation (COP) Debt Service Payment
Assign funds for Local Control Funding Formula – possible decrease in revenue
Reserves
Categorical Programs – 7.29 percent
Cafeteria Fund – 5.31 percent
Indirect Costs
Projected Enrollment as of 6/18/13
• We can use current year projections or prior year P2 data for Revenue Limit calculations.▫ Prior year ADA, i.e., 2012-13 P2 Data for Revenue Limit calculations:
1050.50 District K-8 6.18 County SDC 1056.68 Total
▫ Projected District K-8 ADA based on current enrollment projections: 1079 x 97.0% = 1046.6 6.18 County SDC 1052.81 Total
TK K 1 2 3 4 5 6 7 8 Total
CB 14 60 43 64 49 39 38 307
Rio 20 59 61 82 82 65 74 443
SDC 5
RM 121 111
92 324
Total (SDC included in last column only)
34 119 104 146 131 104 112 121 111
92 1079
Plumas Lake ESD Organizational Chart
Governing Board
Superintendent
Principal
Site Staff
Principal
Site Staff
Principal
Site Staff
Director FMOT
Maintenance WorkerGroundskeepers/
Maintenance (2 positions)
Bus Drivers/Custodians
Site Custodians
FMOT Secreta
ry
Director Curriculum/Instruction
and Sp Ed
Sp Ed Secreta
ry
Site Sp Ed Staff
School Psychologist
Counselor
Academic Coach
Director of Business Services
Account Technicians
Food Services Manager
Site Food Services Workers
Administrative Assistant Program Technician
Computer Technician
Site StaffCobblestone Rio Del Oro Riverside
Meadows
Office AdministratorSite Secretary
AdministratorSite SecretaryOffice Clerk (3 hrs)
AdministratorSite SecretaryOffice Tech (8 hrs)
Regular Classroom Teachers
15 FTE Teachers(includes TK classroom)
20 FTE Teachers 12 FTE Teachers
Special Ed 1 FTE Teacher2 Paras Learning Center (LC)
2 FTE Teachers2 Paras SDC2 Paras LC1 Paras One-on-One
1 FTE Teacher4 Paras LC1 Para One-on-One
Other 0.4 FTE PE Teacher0.375 FTE Library0.8125 FTE TK Para
0.6 FTE PE Teacher0.375 FTE Library Clerk0.8125 FTE TK Para
2 FTE PE Teacher0.4 FTE Band Teacher0.375 FTE Library Clerk
Yard Duty/Campus Supervision
6 hours Yard Duty 6 hours Yard Duty2 hours Crossing Guard
1.75 hours Yard Duty5.5 hours Campus Monitor
Custodial 1.875 FTE 2 FTE 2 FTE
Shared positions Health Clerk – 6 hoursAcademic Coach – 1 FTE
Counselor – 1 FTEPsychologist – 1 FTE
General Fund Revenue
Local Control Funding Formula
• Local Control Funding Formula (LCFF) will replace revenue limits• Most categoricals will now be included in the formula (see slide
with Tier III categoricals)• Economic Impact Aid and Class-Size Reduction will also be a part of
the LCFF• Categoricals that are excluded:
▫ Transportation▫ Targeted Instructional Improvement Grant (TIIG)▫ Special Ed ▫ Child Nutrition
• Transportation and Targeted Instructional Improvement Grants will be add-ons and can be used for any educational purpose
Local Control Funding Formula• Districts will receive a base grant amount based on grade-level• Adjustments will be made for class size reduction• Districts will receive supplemental funding based on percentage of
low income, English learners and students in foster youth
K-3 4-6 7-8
Base Grant Amount (based on May Revise)
$6,845 $6,947 $7,154
Adjustment Factors (Class size reduction)
$712
Enrollment eligibility (percent low income, English learners, or in foster youth)
40% 40% 40%
Supplemental (35%) for English learners, low income and in foster youth
$548 $556 $572
Concentration (35%) for English learners, low income and in foster youth above 50%
- - -
Local Control Funding FormulaK-3 4-6 7-8
Amount per grade level $8,104 $7,503 $7,726
Enrollment 494.12 360.23 196.15
$4,004,586 $2,702,719 $1,515,518
Add TIIG $4,433
Add Transportation $48,697
Total Funding $8,275,953
Revenue Limit and Categoricals
Revenue Limit Sources (2012-13) $6,229,268
Economic Impact Aid $43,757
Class Size Reduction $457,317
Tier III Categoricals $251,309
Targeted Instructional Improvement
$4,433
Transportation $48,697
Total $7,034,781
Districts will receive 11.75% of the gap between the LCFF and RL calculations methods:
$8,275,953 - $7,034,781 = $1,241,172 x 11.75% = $145,838
Revenue Limit Calculations
•Revenue Limit Calculations▫Used the School Services of California
Dartboard assumptions to calculate revenue limit
▫Will make adjustments once there is more information available California Department of Education will have
to make changes to the software
Revenue SourcesRevenue Source
2012-13Second Interim Budget
2012-13 Estimated Actuals Budget
2013-14Budget
Variance (Est Act vs Budget)
Note
Revenue Limit Sources
$6,195,621 $6,229,268 $6,529,561 4.8%
Federal Revenue
$300,873 $305,960 $277,734 -9.2% Sequester cuts, no Ed Jobs funding
Other State Revenue
$1,033,966 $1,031,176 $1,047,997 1.6% Mandated costs block grant
Other Local Revenue
$487,567 $492,894 $491,348 -0.3% Less interest and misc. revenue
Interfund Transfers In
$26,300 $26,300 $23,000 -12.5% CFD Admin costs
Total Revenue
$8,044,327 $8,085,598 $8,369,640 -3.6%
Federal Revenue• No Child Left Behind (NCLB) Funding
▫ Title I Improving the Academic Achievement of the Disadvantaged Part 1 – $76,670
▫ Title II Preparing, Training, and Recruiting High Quality Teachers and Principals - $6,078
▫ Title III – English Language Acquisition, Language Enhancement and Academic Achievement for Limited English Proficient (LEP) Students - $6,532
• Special Education ▫ Local Assistance Grants - $83,261▫ SPED IDEA Mental Health funds - $12,693
• Federal Impact Aid (unrestricted) – $32,500• Medi-Cal Administrative Activities (MAA) - $35,000 • Medi-Cal Option Billing (grant thru YCOE) - $30,000
Other State Revenue
Prop 20 Lottery Funds - $30 per ADA = $32,250
Economic Impact Aid - $43,757
Lottery (unrestricted) - $124 per ADA =
$133,300
Tier III Categoricals and other State
Revenue - $283,276
Transportation - $48,697
Class-Size Reduction K-3 -
$457,317
Other State Revenue - Tier III Categorical Flexibility
Education Code Section 42605 allows complete flexibility in the use of funds appropriated in the State budget for fiscal years 2008-09 through 2014-15 for numerous programs and can be used for any educational purpose. Grants included in this flexibility are:Closed Programs:
• Administrator Training - $4,849 • Art and Music Block Grant - $15,115 • California Peer Assistance & Review Program - $5,148 • CAHSEE Intensive Instruction - $800 • Community Based English Tutoring- $4,478 • Math and Reading Professional Development - $9,018• Professional Development Block Grant - $11,597• School Safety and Violence Prevention - $7,990• Supplemental Hourly Programs - $24,143• Targeted Instructional Improvement - $3,914
Tier III Categorical Flexibility (continued)• Closed Programs (continued)
• Gifted and Talented Education – $66,473• School Library Improvement Block Grant - $10,437
• Programs closed but operating with original intent of program
• Instructional Materials Funding Realignment Program - $56,959 - funding is used to purchase approved curriculum
• Deferred Maintenance - $33,382
• Routine Restricted Maintenance – flexibility to transfer one percent of expenditures (previously was three percent of General Fund expenditures)
NOTE: With new funding method, all these categoricals with the exception of Targeted Instructional Improvement Grant will
become a part of the LCFF funding formula.
Other Local Revenue and Other Financing Sources
•Other Local Revenue▫Interest Earnings - $20,000▫Leases and Rentals – $56,300▫Other revenue $9,800▫Bus Fees - $13,000▫Sp Ed Transfer from YCOE – $392,248
•Other Financing Sources▫Interfund Transfers In - $23,000 (From
Fund 52 for CFD Admin costs)
General Fund Expenditures
Expenditures2012-13 Second Interim Budget
2012-13 Estimated Actuals Budget
2013-14 Budget Adoption
Change
Certificated Staff $3,744,745 $3,860,051 $3,887,597 0.7%
Classified Salaries $1,313,915 1,346,178 1,396,058 3.7%
Employee Benefits $1,585,382 $1,604,179 $1,593,126 -0.7%
Books and Supplies $388,352 $421,884 $337,067 -20.1%
Services/Op Expenses
$1,037,871 $1,027,339 $1,014,091 -1.3%
Capital Outlay $14,600 $0 $0
Other Outgo $273,100 $265,693 $268,852 1.2%
Indirect ($9,734) ($9,916) ($12,486) 25.9%
Interfund Transfers Out
$24,503 $28,172 $38,711 37.4%
Total Expenditures $8,372,734 $8,543,580 $8,523,014
Salaries and BenefitsCategory 2012-13
Budget Second Interim
2012-13 Budget Estimated Actuals
2013-14 Budget Adoption
Change
Notes
Certificated $3,744,745 $3,860,051
$3,887,597 0.7% Includes step increase
Classified $1,313,915 $1,346,178
$1,396,056 3.7% Includes step increase
Benefits $1,585,382 $1,604,179
$1,593,126 -0.7% District contribution:
STRS $304,880 $313,072 $319,927 8.25%
PERS $138,037 $140,062 $145,852 11.417%
OASDI/Medicare
$142,173 $146,655 $152,149 6.2%/1.45%
Health $825,876 $825,074 $828,768 $10,000 per FTE
Unemployment $62,069 $63,667 $11,021 0.05%
Worker’s Comp $96,192 $98,882 $117,075 2.2246%
PERS Reduction/Othe
r
$$16,155 $16,667 $18,334 1.603%
Books and SuppliesCategory 2012-13
Budget Second Interim
2012-13 Budget Estimated Actuals
2013-14 Budget Adoption
Change Note
Approved Textbooks and Core Curricula Materials
$73,616 $77,370 $20,000 -74.2% No adoptions planned
Books and other reference materials
$9,664 $16,295 $10,350 -36.5
Materials and supplies
$233,841 $247,079 $205,217 1.3%
Non-capitalized Equipment
$71,231 $81,140 $56,500 -30.4% SmartBoards
Total $388,352 $421,884 $337,067 -20%
SmartBoards and clickers – $45,500 ( Title I and Lottery)
One-Time Expenditur
es
Transitional kindergarten startup - $5,000
Total $50,500
Services and Other Operating ExpendituresCategory 2012-13
Budget Second Interim
2012-13 Budget Estimated Actuals
2013-14Budget
Change
Subagreements $96,450 $95,399 $67,000 -29.8%
Travel and Conferences
$42,528 $41,105 $42,022 2.2%
Dues and Memberships
$4,475 $4,475 $5,040 12.6%
Insurance $85,243 $85,243 $85,305 0.1%
Ops/Housekeeping $269,129 $269,129 $277,980 3.3%
Rentals/Leases $85,220 $82,562 $88,720 7.1%
Directs Costs Interfund
($34,996) ($34,996) ($35,774) 2.2%
Consulting/Professional
$438,561 $433,039 $435,938 0.7%
Communications $51,261 $51,083 $47,860 -6.3%
Total $1,037,871 $1,027,339 $1,014,091 -1.3%
Other OutgoCategory 2012-13
Budget Second Interim
2012-13 Budget Estimated Actuals
2013-14 Budget
Change
Payments to County Offices
$266,500 $259,093 $268,852 3.8%
Debt Service
$6,600 $6,600 -100%
Transfers of Indirect -Fund 13
($9,734) ($9,916) ($12,468) 25.9%
Contracted Services and Other Outgo
• Health Services▫ Nurse – $30,000
• Special Education▫ Occupational Therapist = $50,000▫ Behavior Specialist - $36,336▫ Special Behavior Assessments - $1,000▫ Excess Program Costs - $268,852
Yuba County Office of Education Sutter County Superintendent of Schools
▫ Transportation – Marysville Joint Unified School District - $51,000• Technology
▫ Advanced Technology Group - $55,000▫ Yuba County Office of Education - $79,400
• Professional Development▫ District-wide - $37,290
• Audit - $15,000• Legal Counsel - $13,500
Contributions to Restricted Programs
Category Transportation
Routine Restricted Maintenance
Special Education
Revenue $61,697 No State Funding $475,509
Contribution from unrestricted & RL transfer (SPED only)
$102,004 $310,289 $596,547
Total Revenue $163,701 $310,289 $1,072,056
Certificated Staff $300,675
Classified Staff $45,348 $138,290 $222,951
Benefits $20,528 $58,109 $158,290
Materials & Supplies 17 $73,600 $2,450
Services & Other Operating Expenditures
$11,010 $19,207 $66,550
SPED Transportation Costs
$30,000 $268,852
Excess Program Costs/Indirect
$9,920 $21,083 $52,288
Total Expenditures $149,173 $310,289 $1,072,056
General Fund Activity and ReservesCategory 2012-13 Budget
Second Interim2012-13 Budget Estimated Actuals
2013-14 Budget
Beginning Balance $3,077,693 $3,077,693 $2,619,711
Revenue $8,044,327 $8,085,598 $8,369,640
Expenditures $8,372,734 $8,543,580 $8,523,014
Net Increase/Decrease
($328,407) ($457,982) ($153,374)
Ending Fund Balance $2,749,286 $2,619,711 $2,466,337
Economic Uncertainty $417,322 $425,864 $425,001
Revolving Cash $5,100 $5,100 $5,100
Restricted Funds $80,444 $75,443 $57.955
Committed - COP Debt Service
$410,188 $410,188 $410,188
Assigned - Salary Increase
$115 355 $115,355
Local Control Funding Formula Impact
$193,730 $193,700
Available for budget shortfalls
$1,720,878 $1,394,061 $1,374,393
Multi-Year Projections (MYP) Budget Assumptions
2013-14 Budget Development
2014-15Projection
2015-16Projection
Statutory COLA 1.565% 1.80% 2.20%
Deficit Factor 18.997%$0.81003 per $1.00
18.997%$0.81003 per $1.00
18.997%$0.81003 per $1.00
Revenue Limit (RL) w/ COLARL w/ deficitLoss per ADA
$7,013.36$5,681.03$1,332.33
$7,131,.36$5,776.62$1,354.74
$7,278.36$5,895.69$1,382.67
State Categorical ProgramsCOLA
0 1.8% 2.2%
Federal Funds COLA 0 0 0
Average Daily Attendance (ADA) 1050.5 K-8 plus 6.18 County = 1056.68
1050.5 K-8 plus 6.18 County = 1056.68
1050.5 K-8 plus 6.18 County = 1056.68
Lottery BaseLottery Prop 20
$124$30
$124$30
$124$30
California Consumer Price Index 2.3%% 2.20% 2.30%
MYP Budget Assumptions (continued)
•Salaries and Benefits:▫No changes to staffing▫Included step increase for all eligible
employees▫No changes to statutory benefits▫Health, Dental, Vision contribution –
$10,000 per FTE
MYP Assumptions That May Impact the Budget
Issue Current Assumption
Current Status Impact
Enrollment/ADA and Revenue Limit
2012-13 P2 Data1050.50
Enrollment as of 6/18/13 is 1079 x 97% = 1046.63 ADA
Unknown Current law allows district to use prior year ADA
Local Control Funding Formula
Using School Services of California (SSC) Dartboard for Revenue Limit Calculations
Based on information from SSC District will receive less funding with Local Control Funding Formula
($193,700) Less State Aid
Multi-Year Projections2012-13 Budget 2013-14
Projection2014-15 Projection
Beginning Fund Balance $2,619,711 $2,466,337 $2,199,626
Revenue $8,369,641 $8,492,005 $8,673,753
Expenditures $8,523,014 $8,758,717 $8,894,740
Net Increase (Decrease) in Fund Balance
($153,374) ($266,712) ($220,987)
Ending Fund Balance $2,466,337 $2,199,626 $1,978,639
Revolving Fund & Restricted
$63,055 $63,055 $63,055
Commitment- COP $410,188 $409,563 $408,788
Reserved for Economic Uncertainty
$425,001 $437,936 $444,737
Assigned – Local Control Funding Formula Impact
$193,700
Available for budget shortfalls
$1,374,393 $1,289,072 $1,062,057
Cash• Current cash balance in county treasurer for the
General Fund - $538,052 (as of May 31, 2013)• Deferrals continue to be a concern – we monitor
cash closely every month and will continue to do so throughout the year:▫State Budget includes funding to buy back deferrals▫No information available on payment schedule
• Education Protection Account (EPA) – approximately 20 percent of our State Aid▫2012-13 – the 20 percent will be released June 27,
2013▫2013-14 – will be paid quarterly
Cafeteria Fund – Fund 13
Fund 13 Assumptions
• Revenue • Food Sales
• Paid lunches will increase by $0.25• Decreased food sales due based on actuals for this year
• Catering services - $33,462• Contribution from General Fund - $38,711
• Expenditures • Salaries and benefits
• Step increases for all staff• Includes additional position – Catering Lead
• Food and supplies – additional cost for catering services• Transfer of Direct Costs– Garbage (40 percent) and PG&E (15
percent)• Indirect costs – 5.31 percent
Fund 13 - Cafeteria FundCategory 2012-13
Budget Second Interim
2012-13 Budget Estimated Actuals
2013-14 Budget
Change
Beginning Balance $500 $500 $500
Revenue $410,600 $410,600 $427,512 4.1%
Expenditures $434,403 $438,772 $466,223 6.3%
Net Increase (Decrease) in Fund Balance
($23,803) ($28,172) ($38,711) 37.4%
Transfer In (From General Fund)
$24,503 $28,172 $38,711
Ending Balance $500 $500 $500
Deferred Maintenance Fund Fund 14
Fund 14 Assumptions and Summary• Deferred Maintenance Program is a Tier III
Categorical▫ Program was closed in 2008-09▫ Funds can be used for any educational purpose
State funding was transferred under flexibility in 2008-09 Funding was deposited in Fund 01 since 2008-09
▫ State funding is budgeted in Fund 14 for 2013-14
• Fund balance was committed at 2011-12 at First Interim for Deferred Maintenance Projects
• Revenue▫ State funding and interest
• Expenditures▫ Riverside Meadows Paint Project and Rio Seal Coat Project
Fund 14 - Deferred MaintenanceCategory 2012-13
Budget Second Interim
2012-13 Budget Estimated Actuals
2013-14 Budget
Change
Beginning Balance $100,139 $100,139 $86,239
Revenue $1,100 $1,100 $34,482 3,034.7%
Expenditures $15,000 $15,000 $35,000 133.3%
Net Increase (Decrease) in Fund Balance
($13,900) ($13,900) ($518) -96.3%
Ending Fund Balance
$86,239 $86,239 $85,721
Committed – Deferred Maintenance
$86,239 $86,239 $85,721
Capital Facilities Fund Fund 25
Fund 25 Assumptions and Summary –
• Revenue ▫ Impact Fees and interest
▫ Transfer from Fund 52 - $526,035• Expenditures
▫ Debt Service Payments COP Principal and Interest Payment = $410,188 Refi COP Interest only payment = $152,013
Consulting fees - $21,500 for fee study, disclosures, trustee fees and developer negotiations
Developer Impact Fees Collected
2007-08 2008-09 2009-10 2010-11 2011-12 2012-13
$27K $196K $250K $239K $170K $76,957
Fund 25 – Capital Facilities FundCategory 2012-13 Budget
Second Interim2012-13 Budget Estimated Actuals
2013-14 Budget
Change
Beginning Balance $518,966 $518,966 $18,792
Revenue $60,005 $70,102 $59,445 -15.2%
Expenditures $8,415,34 $8,415,344 $585,480 -93.0%
Net Increase (Decrease) in Fund Balance
($8,355,339) ($8,345,242) ($526,035) -93.7%
Interfund Transfers In
$169,702 $139,075 $526,035 278.2%
Transfers Out/Others Uses
$12,864,007 $12,864,007 0 -100%
Ending Fund Balance $39,322 $500,713 $18,792
Cash w/ fiscal agent $39,322 $6,512 $6,512
Assigned – Capital Facilities projects
$12,280 $12,280
Debt Service Fund Fund 52
Fund 52 Assumptions and Summary – • Revenue - $682,010
• Community Facilities District (CFD) Mello Roos taxes are collected in January and June:
• CFD #1 - $320 per home annual for total of $506,560• CFD #2 - $400 per home annual for total of $170,000
• Interest earnings for cash at county and cash with fiscal agent• Expenditures - $1,092,413
• Report fees - $600• Debt Service payments
• CFD #1-2005- Principal and Interest debt service payment $306,720• CFD #2 2007- Principal and Interest debt service payment $90,672
• CFD Administrative Costs $23,000 – Administrative costs paid out of General Fund and reimbursed from Fund 52
• Transfer to Fund 25 for COP payments - $526,035
Other notes: Cash flow will be an issue. We will probably have to loan funds from the General Fund to make the debt service payments for the February payments.
Fund 52 – Debt Service FundCategory 2012-13
Second Interim2012-13 Budget Estimated Actuals
2013-14 Budget Change
Beginning Balance
$1,021,873 $1,021,873 $1,145,390
Revenue $682,300 $682,505 $681,572 -0.1%
Expenditures $2,972,620 $2,972,620 $397,392 -86.6%
Interfund Transfers In
$2,579,007 $2,579,007 0 -100%
Interfund Transfers Out
$196,002 $165,375 $549,035 232%
Net Increase (Decrease)
$92,715 $123,517 ($264,855) -314.4%
Ending Fund Balance
$1,114,588 $1,145,390 $880,535
Cash w/ fiscal agent
$402,658 $402,559 $402,559
Assigned – Debt Service
$711,929 $742,831 $477,976
Fund 52 Multi-Year Projections2012-13 2013-14 2014-15
Beginning Balance
$1,021,873 $1,145,390 $800,535
Revenue $682,505 $681,572 $681,572
Expenditures $2,972,620 $397,392 $396,916
Transfers In $2,579,007
Transfer Out $165,375 $549,035 $599,856
Net Increase or decrease in fund
$123,517 ($264,855) ($315,200)
Ending Fund Balance
$1,145,390 $800,535 $565,335
Cash with fiscal agent
$402,559 $402,559 $402,559
Funds available for Aug/Sept payments
$742,831 $477,976 $162,776
Debt Service ScheduleDebt Service
Due Date Principal Interest Total Due
CFD #1 – Series 2005
August 1 $115,000 $97,233 $209,488
CFD #2 – Series
August 1 $25,000 $33,188 $58,188
COP 2012 September 1 $76,006 $76,006
COP 2012 Refi September 1 $185,000 $113,981 $298,981
CASH NEEDED
$642,663
CFD #1 – Series 2005
February 1 $97,233 $97,233
CFD #2 – Series
February 1 $32,484 $32,484
COP 2012 March 1 $76,006 $76,006
COP 2012 Refi March 1 $111,206 $111,206
CASH NEEDED
$316,929
Any questions?