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Budget Presentation

Budget Presentation. March 24, 2010. Starting Point. Projected Appropriation Increase (Roll-Over Current Programs) $6,128,710 Projected Revenue Decrease $5,383,190 Withdrawn Fund Balance Use $3,060,000. Total Projected Budget Gap. $6,128,710 + $5,383,190 + $3,060,000 $14,571,900.

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Budget Presentation

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  1. Budget Presentation March 24, 2010

  2. Starting Point • Projected Appropriation Increase (Roll-Over Current Programs) • $6,128,710 • Projected Revenue Decrease • $5,383,190 • Withdrawn Fund Balance Use • $3,060,000

  3. Total Projected Budget Gap • $6,128,710 + $5,383,190 + $3,060,000 • $14,571,900

  4. Information • Available Unreserved/Undesignated Fund Balance • Available Dedicated Reserve Balance • Program Student Impact/Costs

  5. Available Unreserved/Undesignated Fund Balance • $9,484,980 • This is a projected number and is the best case scenario based on current spending levels. • Current law allows for a maximum of 4% of the district’s budget to be retained in this fund balance account. Our current $9.4 million projection exceeds that allowance. • I recommend the use of no more than 50% of the projected fund balance to reduce the levy impact of the 2010-2011 budget. • It is important to remember that the use of fund balance in this way requires a like commitment in subsequent years.

  6. Accessible Dedicated Reserve(s) Balance • $7,879,250 • This balance is the sum of all accessible reserve accounts: workers’ compensation, unemployment, debt service, liability, tax certiorari, and insurance reserves. • I “do not” recommend allocating any of these reserve funds to this year’s budget. I am very concerned about the impact of the loss of ARRA funds on the 2011-2012 budget and the impact of decimating these accounts in the event of unforeseen emergencies.

  7. Program Costs

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  28. Other Outstanding Issues • ARRA Replacement Update • C4E Replacement Update • Health Insurance Community vs. Experience Rated • Department of Labor Grant Capabilities • Impact of the Closure of the New Covenant Charter School • Health Insurance Costs • State Aid / State Budget • Contingency Legislation • Other Program Costs not yet calculated

  29. Revised Budget Timeline • March 24 Program Costs • March 31 Preliminary Budget Proposal by Superintendent • April 14 Budget Discussion • April 21 Budget Adoption by Board

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