DCSS Parent MeetingNovember 2010

Bob ElliottPresident/CEO Dayton Christian School System

DCSS Board

President/CEO

Education Division

Dayton Christian School

Xenia Christian

School

Dayton Christian

HomeschoolPsychologist

Special Education Curriculum

Ministry Trips Transportation

Health Services

Advancement Division

Admissions Office

Communications/ Constituent

Relations Office

Development Office

Business Division

Controller

AR/Student Billing

Purchasing/AP

Payroll

Auxiliary Funds

Human Resources

Facility Services

Maintenance

Grounds

Custodial

IT Department

President Emeritus

DCSS Parent MeetingNovember 2010

Rich AnglinCo-President, LMIDirector of Business Services, DCSS

LMI/DCSS Financial Summary

• Cash (EF) = $2,500,000

• Bank Obligations = $7,300,000• Accounts Payable = $ 700,000• Total Debt-3rd Parties = $8,000,000

• Internal Borrowing = $500,000-700,000

Divestment/Repayment Plant

• Sale of 160 acres of Legacy Center to Athletes in Action▫Tentative closing date is December 31, 2010▫Proceeds = $3,100,000

Retire bank debt▫Release of Endowment Fund = $1,650,000

Retire $800,000 bank debt Provide $850,000 for accounts payable

payments and operating needs

LMI/DCSS Post AIA Sale• Cash (EF) = $ 850,000

• Bank Obligations = $3,400,000▫ Seeking to refinance with HUD for 35 years

• AIA Note = $ 600,000• Accounts Payable = $ 0• Total Debt-3rd Parties = $4,000,000• Internal Borrowing= $500,000-700,000

Sale of Legacy Village Retirement Community

• Target sale date = June 30, 2011• Target sale price is an amount sufficient to

retire remaining bank debt, pay-off internal borrowing and replenish cash reserves

• Seeking prospective buyers who are: ▫Faith-based▫Experienced with senior care▫Financial wherewithal to fully develop LVRC

Legacy Center--Post Sale

•40 acres of Legacy Center campus to remain with DCSS▫20 acres/buildings – Xenia Christian

Schools▫20 acres – power plant

•XCS will remain open •XCS will continue to use AIA athletic

fields

Map of Legacy Campus

LMI/DCSS Cash Flow Projections October 2010 to June 2011

•Cash Receipts

Source

Tuition $4,337,000

Endowment Fund 850,000

Development/Donations 500,000

Other 431,000

TOTAL $6,118,000

LMI/DCSS Cash Flow Projections October 2010 to June 2011

•Cash Disbursements

Use

Compensation and Benefits

$3,732,000

Operating Costs 928,000

Delinquent Accounts 700,000

Utilities 435,000

Interest/Bank Fees 61,000

Total $5,856,000

LMI/DCSS Cash Flow Projections October 2010 to June 2011

Net Cash Increase

Cash Receipts $6,118,000

Cash Disbursements (5,856,000)

Total Net Cash Increase

$262,000

Annual Fund

•2010-11 Annual Fund need = $575,000

Month Need

October $35,000

November 70,000

December 225,000

January 40,000

February 20,000

March 40,000

April 45,000

May 25,000

June 25,000