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Revised FY 2011-12 Budget

Revised FY 2011-12 Budget. January 17, 2012. General Fund Revenue Assumptions. Enrollment of 2,927 (up 58 adm’s from 2010-11) $50/ adm increase in gen ed formula allowance Increase in the special education statewide proration factor of 1.2% for regular and 3.6% for excess cost

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Revised FY 2011-12 Budget

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  1. Revised FY 2011-12 Budget January 17, 2012

  2. General Fund Revenue Assumptions • Enrollment of 2,927 (up 58 adm’s from 2010-11) • $50/adm increase in gen ed formula allowance • Increase in the special education statewide proration factor of 1.2% for regular and 3.6% for excess cost • State aid shift 60% current year 40% next year • Tax shift of 49% • Levy decrease of 8.07%

  3. Enrollment Trends

  4. General Fund Expenditure Assumptions • Cash flow borrowing needs of $8M • Increase in licensed staff of 7 fte’s • Increase in hourly staff of 2 hours per day • Increase in transportation cost: 2% regular education 2.5% special education • Severance of $91K paid out of internal service fund • Health insurance premium decrease of 10%

  5. General Fund Budget FY11-12 Unassigned Revenues $29,393,109 FY11-12 Unassigned Expenditures $29,898,612 Surplus ($ 505,503) Fund Bal June 2011 $ 1,858,253 Projected Fund Bal June 2012 $ 1,352,750

  6. Fund Balance • Unreserved Fund Balance Policy is 5 – 8% of unreserved expenditures • Projected to be at 4.52% by the end of June 2012 • Will help absorb: • Potential enrollment declines • Uncertain federal and state funding levels • Cash flow needs and interest and issuance costs

  7. Food Service FY11-12 Revenues $ 1,554,249 FY11-12 Expenditures $ 1,516,748 Surplus $ 37,501 Fund Bal June 2011 $ 90,997 Projected Fund Bal June 2012 $ 128,498

  8. Community Service FY11-12 Revenues $ 2,168,420 FY11-12 Expenditures $ 2,120,434 Surplus $ 47,986 Fund Bal June 2011 $ (128,491) Projected Fund Bal June 2012 $ (80,505)

  9. Other Funds Capital Internal Debt Projects Service Service FY11-12 Revenues $ 820,454 $ 570,000 $3,104,269 FY11-12 Expenditures $ 854,227 $ 903,260 $3,047,722 Surplus ( $ 33,773) ($ 333,260) $ 56,547 Fund Bal 6/30/11 $ 884,798 $ 5,202,884 $ 471,804 Proj Fund Bal 6/30/12 $ 851,025 $ 4,869,624 $ 528,351

  10. Questions and Comments

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