2008 Real Estate Forecast by dhq66789

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									Bellevue City Schools
Financial Forecast Assumptions
Submission Date September 2010
Revenue
Tax Levies:
-An emergency levy in the amount of $925,000 was approved in 1996, renewed in 2001 and
2006. This will need to be renewed in 2011. In fiscal year 2012, half of the real estate taxes to
be collected from this emergency levy must be subtracted from the General Property Tax (Real
Estate) category under revenue. This amount must be added at the bottom of the forecast under
the Property Tax - Renewal category.

-The ½% income tax was approved in 2001 and renewed in 2006. This will need to be renewed
in 2011. In fiscal year 2012, part of the income tax must be subtracted from Income Tax
category under revenue. This amount must be added at the bottom under the Income Tax -
Renewal category. In fiscal years 2013 and beyond, the entire amount of income tax must be
subtracted from revenue and added to renewals.

 -An emergency levy was approved in 1998 and renewed in 2003 and 2008 in the amount of
$1,350,000. This levy needs to be renewed in 2013. In fiscal year 2013, half of the real estate
taxes to be collected from this emergency levy must be subtracted from the General Property Tax
(Real Estate) category under revenue. This amount must be added at the bottom of the forecast
under the Property Tax - Renewal category.

Levy Renewal
Schedule


Calendar Year                  2009   2010   2011      2012   2013   2014    2015    2016   2017     2018
Emergency Levy $925,000                       X                                       X
Emergency Levy $1,350,000                                     X                                      X
Income Tax                                    X                                       X
Permanent Improvement                  X                                     X

Reappraisal/Triennial Update:
The triennial update for Seneca County was in 2008 with increases realized in taxes collected in
2009. Triennial Updates for Huron and Erie Counties were in 2009 with increases realized in
taxes collected 2010. A reappraisal was performed in Sandusky County in 2009 with increases
realized in the 2010 tax collection. The majority of the Bellevue City Schools property value is
in Sandusky and Huron Counties.

County Reappraisal and Triennial Update Schedule:

County         Triennial Update       Increase in Taxes        Reappraisal       Increase in Taxes
Erie                2009                   2010                  2012                 2013
Huron               2009                   2010                  2012                 2013
Sandusky            2012                   2013                  2009                 2010
Seneca              2008                   2009                  2011                 2012




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State Model for Tangible Personal Property Tax Reimbursement:
In April 2006, the state released a series of spreadsheets that could be used in their model
spreadsheet towards arriving at the various amounts that will change based on the phasing-out of
tangible personal property values. Fiscal year 2005-06 is the first year of implementation for this
phase-out. In using this state model, the following amounts were adjusted in the forecasted
years: General Property Tax (Real Estate), Tangible Personal Property Tax and Unrestricted
Grants-in-Aid. I also have added a new line in order to help clarify the new state reimbursement.
Line 1.050a Tangible Personal Property Tax Reimbursed by the State was added to show the
amount of direct state reimbursement we should receive each year. This line is only shown for
local presentation. It must be added in to Line 1.050 for state submission. Line 1.035
Unrestricted Grants-in-Aid/State Reimbursement-Offset-Tangible Personal Property is used in
addition to regular state foundation, to show the amount of state reimbursement that we should
receive through our state foundation due to our property values declining.

General Property Tax (Real Estate), Line 1.010:
Each year in December, we receive our new district property valuations as calculated by the
county auditor. Future years are then calculated based on the new valuations. The 2008
economy did not support our historical increases of 10% on reappraisal/triennial update years
and a 2.5% increase on off years. These percentages were reduced to 2.5% on reappraisal/
triennial update years and 1% increase on off years for the September 2008 forecast. The current
economy is not supporting these reduced increases either. After meeting with Bill Farrell,
Sandusky County Auditor, the percentages used in calculations for next year include a 2%
increase in residential values and a 2% decrease in industrial values. The two years following
2009 have zero increases in property values. The next three year triennial update/reappraisal
cycle includes a 2% increase in residential values, but no increase in other property categories.
School district treasurers have been warned that it will more than likely take two triennial
update/reappraisal cycles before valuations start to rebound. The decrease in percentages used in
the current forecast calculate to a total of $748,600 less in real estate taxes over the next four
years when comparing to the September 2008 real estate tax forecast. Per Mike Sobul of the
State Department, values may rise again in or after 2014 when counties go through reappraisal or
update.

Prior to May 2008, per the Sandusky County auditor, I used a conservative amount of 2.5%
increases in taxes on the off years (when there is not a reappraisal or triennial update) to account
for new construction in the district. Also per the auditor, I used a conservative amount of 10%
increase on residential/ agriculture taxes on the future reappraisal/triennial update years. Being
at the 20 mill floor for the residential/agricultural tax rate allows us to reap the benefits in that
category. We also could safely include a 10% increase only on the inside millage for the
commercial/industrial property. In May 2009, there was no growth from inside millage and it
may decline if values decline.

Telephone and railroad personal property taxes are collected with real estate taxes and therefore
need to be subtracted from this category. The forecast amount for FY11 was increased due to the
phasing out of tangible personal property in the way that our two emergency levies will continue
to collect at the specific dollar amounts as passed. As the tangible personal property is phased-
out, the taxes are shifted to the real estate property owners. Emergency levies can rise above the
original millage they were passed for, if values decline.




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Real Estate Taxes
Actual:      Revenue      Inc(Dec)   Notes:
FY08         6,133,278       2.50%
FY09         6,113,878      -0.30%
                                     Emergency levies move toward real estate as
FY10         6,168,493      0.90%    personal tangible values are phased-out
Budget:
FY11         6,176,000      0.12%
FY12         5,755,999
+renewal       420,001      0.00%
FY13         4,826,671
+renewal     1,391,829      0.16%
FY14         4,234,615
+renewal     1,984,385      0.00%

Tangible Personal Property Tax, Line 1.020:
The amount of tangible personal property tax we collect has changed drastically over the past
years. As per the state budget, tangible personal property tax has decreased annually.
Tax on general business and railroad property will decrease 25% annually beginning with fiscal
year 2007. Tax on telephone and telecommunications property will be eliminated by 2011. The
state is to replace the revenue lost due to phasing out this tax. House Bill 1 extended the full
reimbursement for schools by two years. School districts are to be reimbursed fully for lost
revenue through fiscal year 2013. The reimbursement phase-out will now begin in August 2013.

Personal Tangible Taxes
Actual:     Revenue      Inc(Dec)    Notes:
FY08          995,025     -12.4%
FY09          363,232     -63.5%
FY10           24,815     -93.5%
Budget:
FY11             1,061    -95.7%
FY12                 0
FY13                 0
FY14                 0

Income Tax Line, 1.030:
The revenue from the ½% income tax passed in February 2001 and renewed in 2006 is shown
here. It is collected quarterly. The State of Ohio Department of Taxation first estimated that our
½% income tax would collect $1.2 million annually. In the history of our income tax, we finally
reached this estimate in fiscal year 2008. Per the Ohio Department of Taxation, originally a
conservative 3.5% increase was used in income tax collections for the future years. The slow
economy has made it necessary to reduce our original forecast amounts for future years. The
State Department of Taxation has released estimates of percent decreases to forecast for fiscal
year 2009-10. The state had warned to forecast an 18% decrease from fiscal year 2008-09. Our
decrease overall was only 7% ! The July 2010 tax collection came in at 2.6% above July 2009,
therefore fiscal year 2010-11 is forecasted with a 2% increase. Future years also include a 2%
increase. With a 2% increase we hover at the $1.2 million mark in FY13 and 14, which was the
amount the ½% income tax was to bring in when it was passed in 2001.




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 Income Tax Collection History
 Actual:          Revenue                 Inc(Dec)            Notes:
 FY08              1,275,762                          8.00%
 FY09              1,254,233                         -1.69%
 FY10              1,152,612                         -8.10%
 Budget:
 FY11              1,175,665                         2.00%
 FY12              1,199,178                         2.00%    Includes renewal
 FY13              1,223,162                         2.00%    Includes renewal
 FY14              1,247,625                         2.00%    Includes renewal
 FY15              1,272,578                         2.00%    Includes renewal

Unrestricted Grants-in-Aid (Receipts from State Sources), Line 1.035:
State Foundation is shown here. Our kindergarten enrollment of 135 continues to be down
significantly compared to two years ago when it was at 177. The decrease affects our state
funding. Future enrollment is based on a constant kindergarten enrollment of 140, subtracting
the graduating seniors, adding current kindergarten and 90% of the incoming 9th graders from
ICS. Using these criteria, our enrollment decreases until the final two years of the forecast.

Career Tech funds are now under restricted funds. Restricted funds are shown on line 1.040.

Also shown in this category is the amount of state reimbursement that we should receive through
our state foundation due to our tangible personal property values declining. The reimbursement
from the State of Ohio will come in the form of either increased state funding through the State
Foundation formula as district valuation decreases or in the form of direct payments from the
state shown in line 1.050a.

A new biennium budget for FY 11-12 and 12-13 will not be approved by the legislature until
spring of 2011. There are many theories and funding models being discussed by legislators.
When the funding is finalized, it undoubtedly will change the forecasted numbers for this
category. This forecast shows the current year at the anticipated amount based on the biennium
budget currently in place. Forecast for the future years include the elimination of the Stimulus
State Fiscal Stabilization Funding coupled with a state funding decrease resulting in a total
decrease is 10% for the final three years of the forecast. This drastically affects our Fund
Balances shown on Line 15.010. How soon our district will need an additional operating levy
and the number of mills necessary to keep our district solvent hinges on the state funding that is
approved by the legislators.

 State Foundation
 Actual:   Revenue        Inc(Dec)      Notes:
 FY08       7,912,016         -0.10%    ADM decrease of 51, Increase due to property value loss
 FY09       9,074,920        14.70%     ADM Increase
 FY10       8,431,278         -7.09%
 Budget:
 FY11        8,269,544         -1.92%   Two less buildings with report cards
 FY12        8,021,458         -3.00%   3% decrease plus elimination of Stimulus = 10% decrease
 FY13        8,021,458          0.00%
 FY14        8,021,458          0.00%
 FY15        8,021,458          0.00%




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Restricted Grants-in-Aid, Line 1.040:
Included in this category is the one-time bus purchase allotment and career tech money that we
receive each month. The bus purchase aid ended with FY09. A ¾% increase was used for each
year thereafter.

Restricted Federal Grants-in-Aid, State Fiscal Stabilization Funds, Line 1.045:
This category is for the federal stimulus monies used by the state to supplant our normal state
foundation. We are not receiving any additional state funding, but the Governor is using the
federal stimulus monies towards our state foundation. The forecast includes State Fiscal
Stabilization Funding for the 2009-10 and 20010-11 fiscal years. It is eliminated from the
forecast in future years.

Property Tax Allocation, Line 1.050:
The rollback and homestead taxes are shown in this category. In years of levy renewals, the
rollback and homestead taxes are also reduced at the top and included in the bottom renewal levy
category.

The amount of direct state reimbursement for tangible personal property reimbursement is also
included in this line. The amounts forecasted in this category were arrived at by using the state
model. House Bill 1 extended full reimbursement to school districts through fiscal year 2013.
The reimbursement phase-out will begin in August 2013 and will pick up at the rate it was
scheduled to be phased-out (FY14 at 9/17ths or 53%, FY15 at 7/17ths or 41%, FY16 at 1/17th or
6%, FY18 at 0%). Therefore, the forecast shows a large decrease in this line for fiscal year
2013-14.

Tangible Personal Property Tax Reimbursed by the State, Line 1.050a:
The State of Ohio has “held harmless” school districts for the loss of revenue due to the phase
out of personal property taxes. The anticipated losses have been forecasted in Line 1.035a State
Reimbursement-Offset-Tangible Personal Property and Line 1.050a Tangible Personal Property
Tax Reimbursed by the State. The reimbursement from the State of Ohio will come in the form
of either increased state funding through the State Foundation formula as district valuation
decreases or in the form of direct payments from the state. Line 1.050a shows the amount of
direct state reimbursement we should receive each year. The amounts forecasted in this category
were arrived at by using the state model. The offset is the amount of state funding the district is
receiving based on the decrease of personal tangible property values. Lines 1.035a and 1050a
are used for local presentation only. For State submission the “a” lines are combined with Lines
1.035 and 1.050 respectfully.

All Other Operating Revenues, Line 1.060:
Included in this category are class fees, interest on investments, donations, and tax abatements.
ALL years include preschool tuition of approximately $11,000 and $70,000 in EHOESC
preschool grant money that is forwarded to the district. CAFS-Medicaid funding was resumed in
FY10. Fiscal year 2007 includes late tax abatement payments totaling $108,126. These same
company abatement payments are forecasted to continue to be received after June 30th of each
year.




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 Tax Abatement Revenue
 Actual:   Revenue       Inc(Dec)   Notes:
 FY08        149,108       -4.30%
 FY09         94,130      -36.87%
 FY10         91,499       -2.80%
 Budget:
 FY11          50,000     -45.35%   Tax abatement gifting agreements are expiring
 FY12          50,000       0.00%
 FY13          29,000     -42.00%
 FY14          24,000     -17.24%
 FY15          22,000      -8.33%

Proceeds from Sale of Notes, Line 2.010:
Future borrowings are not forecasted.

All Other Financing Sources, Line 2.060:
Refunds of prior year expenditures are shown in this category.

Total Revenues and Other Financing Sources, Line 2.080:
Future totals show a decline. Revenue totals are bleak due to property values decreasing or
holding steady, income tax collections forecasted to decrease and state funding decreasing due to
a lower than normal kindergarten enrollment and a change in the funding model.

Expenditures
Personal Services, Line 3.010:
Salary raises are per negotiated agreements. Fiscal year 2008 includes a 2.5% base increase,
FY09 3% base increase, FY10 2.75% base increase and FY11 includes a 1.85% increase. Fiscal
years 2012 through 2014 include an estimated 2% increase in base salary. Retirement
replacement salaries that are known for next year are calculated in future years. All salaries of
staff that were charged to the federal grant stimulus funds for fiscal year 2009-10 and 2010-11
were factored back into the general fund forecast for the final three years. The annual amount is
approximately $400,000.

Severance is included in personal services cost for all classified employees. Severance for
certified and administrative employees who retire at age 55 or older is included as deferred
compensation under Fringe Benefits. Severance for certified and administrative employees
under 55 years of age is included in Personal Services. The savings from lower replacement
salaries begin in FY08 due to those employees taking the Redmen Run in FY07.

The following reductions were made for the 2007-08 school year:
       6.0 Elementary teachers (Redmen Run)
       1.0 Bus mechanic
       1.0 Elementary library aide

The following additions were made for the 2007-08 school year:
       1.0 Kindergarten teacher
       1.0 Teacher for Emotionally Disturbed
       1.0 Aide for Emotionally Disturbed
       2.0 Special Education Aides for autistic students
       0.5 Elementary Music teacher
       1.0 Transportation administrative assistant
       1.0 Elementary library/technology teacher

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The following reductions were made for the 2008-09 school year:
       1.0 Elementary Principal
       1.0 Elementary library/technology teacher
       .50 High School Art teacher
       .65 Preschool Itinerant teacher

The following additions were made for the 2008-09 school year:
       .65 time Title I teacher
       1.0 Geography teacher at High School
       1.0 Intervention Specialist at High School
       .80 Library Aide at Elementary buildings

Ellis and Lyme Elementary buildings will be closed for the 2009-10 school year. A total of
22.35 certified employees and 18.80 classified employees were affected by the reduction in
force. These reductions result in an overall savings of $1.2 million per year. Savings are spread
over the salary and benefit categories.

The federal stimulus monies we are receiving through state foundation are being used for
existing teacher salaries. Since, the new state funding is based on funding all day-every day
kindergarten, we are using the money towards salaries and benefits of our kindergarten teachers.
The amounts are shown at the very bottom of our forecast on Lines 21.010 and 21.020.

We are also receiving federal stimulus monies through additional IDEA Special Education and
Title I Federal Grants. Half of the federal stimulus monies can be used to supplant or pay for
existing staff. This federal stimulus money is only available to us for two years, FY09-10 and
FY10-11. We are using the amount we can from the IDEA Stimulus monies towards existing
staff salaries and benefits. An additional Title I teacher at the middle school was added for
FY10-11 and is being paid out of the Title I Stimulus Grant. For FY09-10 and FY10-11, these
costs are not shown on the forecast. However, in the last four years of the forecast, the costs are
added back into salaries and benefits.

Employees’ Retirement/Insurance Benefits, Line 3.020:
The mandated School Employees Retirement “Catchup” is factored into the final four years of
the forecast. Districts are allowed to pay one extra month of retirement cost each fiscal year for
six years to eliminate the six month lag in SERS retirement payments. Health and dental
insurance increases were held to 4.0% for FY 2010-11. An 8.5% increase is forecasted for the
final four years. The actual increase for 2009-10 was held to 0%. On the other hand, the
district’s unemployment compensation projected cost adds to the fiscal year 2010 total.

Retirement costs are based on negotiated salaries and wages through fiscal year 2011. NOT
INCLUDED are higher costs for retirement IF legislation is passed to increase the board share of
retirement. Savings from the following are included in fiscal year 2008-09 and years beyond:
lower retirement costs for retiree replacements and staffing changes, dental premium decrease
for 2008-09. Costs include severance pay for retirees that retire at age 55 or older.

Effective September 1, 2007, the classified and administrative groups agreed to “working spouse
language” and the elimination of the “two-party” rate. This change resulted in a decrease of 25%
in the insurance costs for these two groups. Effective July 1, 2008, the certified agreed to
"working spouse language". All groups now have a higher deductible /co-insurance plan that is
saving the employee and the district a considerable amount of money. With all of these cost


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saving measures in place, the district realized a 0% increase in premiums for the 2009-10 school
year.

 Insurance Benefits

 Fiscal Year             07-08    08-09    09-10     10-11                Forecast
 Health Increase        14.80%   Change     0.00%     4.00%                 8.50%
                                    in
                                  Plans

Dental insurance increased by 11.15% in FY08, decreased in FY09, no increase for FY10 and
4% increase in FY11. An annual increase of 8.5% is forecasted for FY12 through FY14. Vision
insurance rates were approved for a two year period, FY11 is the second year of this agreement.
Future costs are estimated to remain the same. AFSCME prescription rates remained the same
for FY09. No increase is included in future years. Insurance committees from both unions
continue to meet with administration in regards to keeping insurance increases to a minimum.

Purchased Services, Line 3.030:
The following items were factored into the FY11forecast: increase in psychologist purchased
services to supplement the current psychologist assuming additional duties as special education
director; decrease in electricity costs due to wind turbine savings; decrease in legal costs;
decrease in modular rental; increase in open enrollment out of the district. Future years have
deductions for building repairs, phone repair, modular rental, security service and technology
repair due to new buildings opening for 2012-13 school year. After these deductions were made,
a 2% overall increase was assumed for remaining balances.

Fiscal year 2008-09 included a 43% increase in heating fuel and 21% increase in excess costs.
Additional projected costs for heating fuel and special education excess costs have increased the
forecast for purchased services.

 Open Enrollment
 Actual:   Costs          Inc(Dec)
 FY08        366,469          9.30%
 FY09        439,368         19.89%
 FY10        593,069         34.98%
 Budget:
 FY11         610,000        2.85%



 Heating Fuel
 Actual:   Costs          Inc(Dec)    Notes:
 FY08        159,461        -12.09%   Premium holidays for three months
 FY09        227,953         42.95%
 FY10        132,960        -41.67%   Closed two elementaries, three premium holidays
 Budget:
 FY11         181,900       36.81%




                                                54
 Modular Classroom Rental
 Building Location         Monthly Rent        Annual Total
 York #1                   $       675         $      8,100
 York #2                   $       675         $      8,100
 Total                     $      1,350        $    16,200

 Note: Modulars now located at Ridge Elementary
 are being paid for from swing space segment of
 the Ohio School Facilities Commission budget.



 Excess Costs for Students
 Served by
 Outside
 Contracted Services
 Actual:   Costs          Inc(Dec)
 FY08        685,091        -3.00%
 FY09        829,204        21.04%
 FY10        866,119         4.45%
 Budget:
 FY11         900,000          3.91%

Supplies, Line 3.040:
Fiscal year 2008 included an increase for bus fuel, technology repair parts/supplies and OGT
calculators. In addition, FY08 is higher due to the following carryover purchase orders from
FY07: textbooks (elementary music, 4th grade science) software (junior high tech modules, food
service “Point of Sale”, technology “Classlink”). Fiscal year 2009 included $116,000 for social
studies textbooks. Fiscal year 2010 included $160,000 for English/language arts textbooks.

Future textbook purchases were planned as follows: FY10-11 $23,675; FY11-12 $20,000;
FY12-13 $40,000; FY13-14 $220,000 A savings from the prior forecast in the first three fiscal
years is accumulated for a larger forecast in the final year for K-12 science adoption. A new
testing model was added to each year of the forecast at $21,000 per year. FY10-11 includes a one
year increase in technology software of $80,000. The remaining four years of the forecast
include a 2% increase in other supply costs each year.

 Textbooks
 Actual:        Costs           Subjects
 FY08             133,005       Elementary music, 4th grade science
 FY09             105,041       Social studies
 FY10              34,536       MS French, Spanish, HS Social Studies, Math, VoAg, CBI
 Budget:
 FY11                23,675     Incidentals
 +Carryover          256,910    K-12 language arts, 6th grade math, HS world history
 FY12                20,000     Incidentals
 FY13                40,000     Every Day Math
 FY14                220,000    Science grades Kdg-12




                                                 55
 Bus Fuel
 Actual:   Costs         Inc(Dec)
 FY08        157,448        32.80%
 FY09        128,228       -18.56%
 FY10        138,508         8.02%
 Budget:
 FY11         156,610      13.07%

Capital Outlay, Line 3.050:
In fiscal year 2008, there are no debt payments from the permanent improvement fund, therefore
freeing up additional money for needed equipment, replacement computers, etc. A minimal
$25,000 is forecasted for equipment out of the general fund for fiscal year 2011 through 2014.

Principal-Notes, Line 4.020:
Not applicable at this time.

Principal-H.B.264, Line 4.050:
Includes the principal payments due on the H.B.264 Energy Conservation Loan. General fund
savings from the lighting, boiler and wind turbine installed at the high school are used to offset
principal and interest payments.

Interest and Fiscal Charges, Line 4.060:
Interest payments for our H.B.264 Energy Conservation Loan are shown here.

Other Objects, Line 4.300:
County auditor and treasurer fees, liability insurance, election expenses, school district income
tax state administrative fees (1.5%) and state examiner fees are included here. Fiscal year 2008
included an increase to cover additional county auditor and treasurer fees to be deducted from
real estate tax settlements. This increase was approved by the state legislature in the biennium
budget bill. A 1% annual increase in this category is included in the forecast for fiscal year 2011
through 2014.

Operating Transfers-Out, Line 5.010:
Amount forecasted, $16,000, may be used to keep other funds at a positive or zero balance as of
June 30th.

Advances-Out, Line 5.020: Amount forecasted, $120,500, may be used to advance funds to
other funds at June 30th in anticipation of additional grant money coming in after June 30th.

All Other Financing Uses, Line 5.030:
Amount used for refunds of prior year receipts.

Total Expenditures and Other Financing Sources, Line 5.050:
With the Federal Grant Stimulus funding for FY 2009-10 and 2010-11, we have shifted many
salaries out of the general fund. The increase in our FY2010-11 total expenditures is due to the
following categories: textbooks, software, computer upgrades, curriculum mapping.




                                                  56
Excess of Revenues over (under) Expenditures, Line 6.010:
Future years continue to show revenue from the fiscal year is less than the expenditures for the
same year. This does not account for any carryover cash balance, but it does show a trend that
we need to watch.

Unreserved Fund Balance June 30, Line 15.010:
We show two years of positive balances with the last three years of the forecast ending with a
negative balance.

Textbook and Instructional Materials Reserve, Line 9.010:
We anticipate spending the mandated percentages each year with no need to show reserve.

Budget Reserve, Line 9.030:
Not in use by our district at this time.

Bus Purchase Reserve, Line 9.070:
The state ended the funding of this program where funds received were to be used only for bus
purchases.

Revenue from Replacement/Renewal Levies, Lines 11.010 and 11.020:
The amount from the emergency levies and income tax renewals are included here. Property tax
rollback and homestead amounts on the real estate renewals are also included here. Details are
stated on page 1 of the assumptions.

Unreserved Fund Balance June 30, Line 15.010:
We show two years of positive balances with the last three years of the forecast ending with a
negative balance.

ADM Forecasts
Kindergarten, Line 20.010 and 20.020:
Note the decrease from 177 in the 2008-09 school year to143 for 2009-10.
Grades 1-12, Line 20.015 and 20.025:
Note the decreasing ADM since the 2008-09 school year..

State Fiscal Stabilization Funds
Personal Services, Line 21.010, Employees Retirement/Insurance Benefits, Line 21.020 and
Purchased Services, Line 21.03:
The federal stimulus monies we are receiving through state foundation are being used for
existing teacher salaries and benefits. We are using the money towards salaries and benefits of
our kindergarten teachers and some of our first grade teachers. The state also deducts a portion
of the money given to us as a community school deduction. This expense is shown under
purchased services.




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