Public Hearing

June 23, 2009

Berkeley County School DistrictFY 2009-2010 General Fund Budget

FY 2009-2010Estimated General Fund Revenue

ESTIMATED REVENUE

Berkeley County SchoolsFY 2009-2010

1) REVENUE FROM LOCAL SOURCES

Estimated tax local revenues from millage (6% property and above)

$ 57,666,272

Revenue from fees- in lieu of taxes 7,254,716

Investment earnings 250,000

Miscellaneous other revenue 500,000

Taxable Reimbursement 1,200,000

TOTAL LOCAL SOURCES $ 66,870,988

ESTIMATED REVENUE

Berkeley County SchoolsFY 2009-2010

2) REVENUE FROM DIRECT FUNDING SOURCESEducation Finance Act $ 61,055,098

Bus Driver Salary and Fringe 1,313,630

Employee Contributions 21,127,131

Retiree Insurance 2,850,837

Teacher Salary Increase and Related Fringe 3,420,915

High School Diploma 649,356

Reimbursement for Property Tax Relief 7,891,272

Homestead Exemption 1,877,147

Sales Tax Swap for Owner Occupied 21,318,172

Merchants’ Inventory 245,768

Manufacturers’ Depreciation 1,349,058

TOTAL DIRECT FUNDING SOURCES $ 123,098,384

ESTIMATED REVENUE

Berkeley County SchoolsFY 2009-2010

3) REVENUE FROM FEDERAL IMPACT AID

Impact Aid $ 500,000

TOTAL FEDERAL SOURCES (Military) $ 500,000

ESTIMATED REVENUE

Berkeley County SchoolsFY 2009-2010

4) REVENUE FROM INDIRECT COST ASSESSMENTS to FEDERAL PROGRAMS & GRANTS

Indirect Cost $ 988,000

TOTAL FUNDING FROM INDIRECT COST $ 988,000

ESTIMATED REVENUE

Berkeley County SchoolsFY 2009-2010

ESTIMATED GENERAL FUND

1) REVENUE FROM LOCAL SOURCES $ 66,870,988

2) REVENUE FROM DIRECT FUNDING SOURCES 123,098,384

3) REVENUE FROM IMPACT AID 500,000

4) REVENUE FROM INDIRECT COST ASSESSMENTS to FEDERAL PROGRAMS & GRANTS

988,000

TOTAL REVENUES $ 191,457,372

FY 2009-2010Estimated General Fund Expenditure

FY 2009-2010

Reminders About Items Included in the Proposed General Fund Budget

Teacher and Staff Allocations as presented previously with a 0% salary increase and detailed in your budget binders. This still does equate to an average increase of 2 percent due to step increase.

Operational budgets increased due to school level expenditures primarily due to:

Cane Bay High School Adding the 11th Grade ; Cane Bay Elementary – New School Utilities

ESTIMATED EXPENDITURES

FY 2009-2010Estimated General Fund Budget

ESTIMATED REVENUES

CategoryFY 2008-09

Approved Budget

YTD Revenues

May 31, 2009

Balance and Percent Received

Revenue from Local Sources

$ 63,043,341 $ 60,854,669 $ 2,188,672 (97%)

Revenue from Direct State Aid

127,178,469 103,628,323 23,550,146 (82%)

Revenue from Federal Sources

1,914,527 909,387 1,005,140 (47%)

TOTAL EXPENDITURES

$ 192,136,337

$ 165,392,379

$ 26,743,958 (86%)

ESTIMATED EXPENDITURES

FY 2009-2010Estimated General Fund Budget

ESTIMATED EXPENDITURES

CategoryFY 2008-09

Approved Budget

YTD ExpendituresMay 31, 2009

Balance and Percent Spent

Instructional Salaries & Fringe

$ 110,059,206$

84,397,672$ 25,661,534

(76%)

Support Salaries & Fringe 57,145,586 46,997,027 10,148,559 (82%)

Operational Cost 24,931,545 19,235,064 5,696,481 (77%)

TOTAL EXPENDITURES

$ 192,136,337

$ 150,629,763

$ 41,506,574 (78%)

ESTIMATED EXPENDITURES

FY 2009-2010Estimated General Fund Budget

ESTIMATED EXPENDITURES

CategoryFY 2009-2010

EstimatesAdjustments

FY 2009-2010 Total Estimated Budget

Instructional Salaries & Fringe$

110,533,056$

(1,788,658) $

108,744,398

Support Salaries & Fringe 56,880,141 (2,191,384) 54,688,757

Operational Cost 30,907,940 (2,883,723) 28,024,217

TOTAL EXPENDITURES $

198,321,137$

(6,863,765)$

191,457,372

Explanation of Budget Adjustments

Adjustments$2,191,385 Reorganization

2,883,723Transferring of Capital Improvement and Maintenance Items to Capital Expenditures

1,788,658 Use of Flexibility

Note: Some of the original adjustments included the use of furloughs. However, Once the supreme court ruled we were able delete that from this scenario. There are other adjustments that are not listed above that include further use of flexibility that will hopefully will enhance our ability to weather any sort of budget cuts for the 2009-2010 school year or possibly add to fund balance. We are examining those strategies and will report back to the board.

Difference of General Fund

Revenue and ExpendituresRevenue $ 191,457,372

Expenditures $ 191,457,372

Difference $ (0)

FY 2009-2010

* Proposed Expenditures to MAINTAIN

the School District’s Current General Fund Programs

Questions ?or

Discussion