FY07/08 2nd Interim

March 11, 2008

Changes from 1st Interim to Projected Year Totals

Unrestricted Restricted Combined

Revenues

1st Interim

New/Revised

One Time

FY07/08 Projected Year Totals

62,054,072

482,055

145,469

62,681,596

21,701,552

701,673

198,210

22,601,435

83,755,624

1,183,728

343,679

85,283,031

Expenditures

1st Interim

Negotiated Compensation Increases

Special Education

New/Revised

One Time

Net Adjustments

FY07/08 Projected Year Totals

51,838,915

685,076

-

-

121,985

49,992

52,695,968

34,206,480

167,645

429,980

701,673

198,210

-

35,703,988

86,045,395

852,721

429,980

701,673

320,195

49,992

88,399,956

Changes from 1st Interim to Projected Year Totals

Unrestricted Restricted CombinedOther Sources/(Uses)1st Interim

Net Adjustments

FY06/07 Projected Year Totals

(7,349,681)

(597,625)

(7,947,306)

6,913,775

597,625

7,511,400

(435,906)

-

(435,906)

Net Increase (Decrease) in Fund Balance

Beginning Balance

Ending Balance

2,038,322

2,074,863

4,113,185

(5,591,153)

5,591,153

-

(3,552,831)

7,666,016

4,113,185

Components of Fund Balance

Unrestricted Restricted Combined

Ending Fund Balance

Revolving Cash

Legally Restricted

For Economic Uncertainties

Other Designation: Mandate Set Aside

Other Designation: P2 ADA

Available Unrestricted Reserve

4,113,185

50,000

-

2,665,076

1,080,000

458,358

(140,249)

-

-

-

-

-

-

-

4,113,185

50,000

-

2,665,076

1,080,000

458,358

(140,249)

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 9,516 9,585 9,390 9,333

District ADA – Funded 9,5169,516 9,585 9,585 9,390

Revenue

Revenue Limit COLA 5.92% 4.53% 4.94% 3.00%

Revenue Limit Deficits 0% 0% 6.99% 6.99%

Equalization Aid Per ADA $86.56 - - -

Base Revenue Limit $5,525 $5,777 $5,641 $5,824

Federal COLA 0% 0% 0% 0%

Other State COLA 5.92% 4.53% (6.5%) 3.00%

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

Special Education Encroachment $4.8M $5.7M $6.5M $7.0M

Growth in Special Education Encroachment $1.2M $0.9M $0.8M $0.50M

Inflationary Increase - CPI 3.4% 3.2% 2.7% 2.5%

Indirect Cost Rate 2.93% 2.84% 3.22% 3.22%

Spending Reductions and Reallocations $0.8M $1.4M $1.5M $2.5M

Fund Balance

Mandate Reimbursement Set Aside - 1.08M - -

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

REVENUES      

Revenue Limit Sources 53,841,719 56,083,438 54,776,531 55,361,711

Federal Revenues 5,234,677 5,593,131 5,588,427 5,588,427

Other State Revenues 15,525,256 13,989,847 13,208,769 13,561,247

Other Local Income 9,967,270 9,616,615 9,165,089 9,165,089

Total Revenues 84,568,921 85,283,031 82,738,816 83,676,474

EXPENDITURES

Salaries & Benefits 66,452,044 67,713,704 69,799,573 70,641,135

Books/Supplies & Outlay 2,612,890 7,512,180 2,164,404 2,069,522

Services & Operating Expenses 9,384,991 11,656,856 10,630,390 11,376,150

Other Outgo & Transfers 2,251,760 1,517,216 1,517,216 1,517,216

Total Expenditures 80,701,685 88,399,956 84,111,583 85,604,022

Other Sources (Uses) (579,249) (435,906) (325,906) (325,906)

Net Inc/Dec in Fund Balance 3,287,987 (3,552,831) (1,698,673) (2,253,454)

BEGINNING BALANCE 4,378,028 7,666,016 4,113,185 2,414,511

ENDING BALANCE 7,666,016 4,113,185 2,414,511 161,057

Components of Fund Balance

FY06/07 Actuals

FY07/08 Projection

FY08/09 Projection

FY09/10 Projection

Ending Fund Balance 7,666,016 4,113,185 2,414,511 161,057

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

For Economic Uncertainties 2,438,428 2,665,076 2,536,425 2,505,667

Legally Restricted Balance 5,591,153 - - -

For Other Designations

Mandate Cost Reimbursement - 1,080,000 - -

P2 ADA - 458,358 - -

Spending Reductions - - - (2,517,700)

Available Unrestricted Reserve (413,565) (140,249) (171,913) 123,090

Local6%

Revenue Limit86%

Other State8%

Federal0%

Unrestricted Revenue

Personnel91%

Non-Personnnel9%

Unrestricted Expenditures

Books and Other Reference Materials

0%

Insurance14%

Rentals, Leases, and Repairs2%

Professional Services and Operating Expenditures

20%

Communications5%

Operation and Housekeeping Services

43%

Travel and Conferences2%

Materials and Supplies12%

Dues and Memberships1%

Non-Capitalized Equipment1%

Unrestricted Non-Personnel Expenditures

Outstanding Issues that Could Impact the Budget

• State Budget

• P2 Average Daily Attendance (ADA)

• Special Education