J U N E 2 4 , 2 0 1 3

FY 2014 BUDGET

OPERATING FUNDS REVENUE

Foundation formula revenueState adequacy target $6,131Dollar value modifier increased from 1.030 to 1.031Pro-ration factor 93.5%Classroom trust fund (gaming revenue) of $459 per

student – gaming revenue will need to increase significantly from FY2013 to realize this levelo Shortfall would be made up from state general revenues, or

there might be a lower pro-ration factor$337,000 increase from FY 2013

OPERATING FUNDS REVENUE

Property tax revenueCurrent, Delinquent, State assessed railroad & utility

(SARU)Collection rate 93.9%Assessed valuation down ½%

$14.4 million is new constructionWithout new construction, AV down 1.9%

ASSESSED VALUATION

2012 2013 % Change

Real 725,951,540 734,621,170 1.2 %

Personal 259,781,852 243,976,855 (6.1)%

LARU 11.090.530 13,514,730 22.1%

Total 996,823,922 992,112,755 (0.5)%

Buchanan Co SARU

63,519,227 n/a

OPERATING FUNDS REVENUE

• Property taxes $39,670,000• State formula 41,069,000• Prop C (sales tax) 10,559,000• Interest income 597,000• Other state 4,653,000• Federal 12,614,000• Other local and other 7,768,000• Total

116,930,000

OPERATING FUNDS EXPENDITURES

• Salaries and wages 69,027,000• Benefits

22,443,000• Technology @ $175/student 1,985,000• “Fixed” costs 1,183,000• Hardware 802,000

• Capital improvements (CIP) 1,931,000• Asphalt 340,000• Roofs 268,000• Heating/cooling 206,000• Athletic facilities 600,000• Other 517,000

OPERATING FUNDS EXPENDITURES

• Textbooks 160,000• Curriculum adoption 0• Consumables, other 160,000

• Other 20,975,000• Transportation 3,491,000• Nutrition services 2,640,000• Student activities 2,940,000• Vocational equipment 1,045,000• Professional development 590,000• Utilities 2,670,000• All other 7,599,000

SUMMARY OF OPERATING FUNDS

•Operating revenue

$116,930,000

•Operating expenditures

116,521,000

• Increase in reserves

409,000

BOND CAPITAL PROJECTS FUND

• Revenues

• Issuance of GO bonds $9,000,000

• Interest income & premium 525,000

• Construction Expenditures

• Air conditioning elementary schools 1,981,000

• Professional fees 455,000

• Elementary schools 21,793,000

• Bond issuance expenses 108,000

• Expenditures 24,337,000

DEBT SERVICE FUND

• Revenues

• Property taxes, interest, & other taxes $4,037,000

• Expenditures

• Principal and interest 4,168,000

• Expenditures over revenues (131,000)