Actual Actual Actual  Budget  Projected   Projected   Projected   Projected   Projected 
STATUS QUO BUDGET - Sustainable *   2006-07 2007-08 2008-09  2009-10  2010-11  2011-12   2012-13   2013-14   2014-15 
 June Bond 
 Payment 
Revenue:
State Aid  2.0%  $       8,617,377  $   8,855,579  $   9,382,076 [1]       9,619,674       9,812,067 [2]     10,008,309     10,208,475     10,412,645     10,620,897
New Aid or Reduction Consideration  N/A   N/A   N/A                       -                      -                      -          795,031          795,031          795,031
Use of Reserves               500,000          100,000                      -                      -            85,000                      -          325,000          150,000          100,000
Real Property Tax Levy           7,778,920       7,929,002       8,317,221       8,317,221 8,712,772 9,166,801 9,778,268 10,397,490 10,926,167
Other Revenues 2.0%              356,939          421,246          213,480          201,180          205,204          209,308          213,494          217,764          222,119
Appropriated Fund Balance                          -                      -          481,114          143,641          225,000          250,000          325,000          300,000          300,000
     Total Revenues  $     17,253,236  $ 17,305,827  $ 18,393,891     18,281,716     19,040,043     19,634,417     21,645,268     22,272,929     22,964,214
 levy incr. (%) =  1.93% 4.90% 0.00% 4.76% 5.21% 6.67% 6.33% 5.08%
Expenses: S'town closes GES closes
Salaries 3.0%  $       9,332,102  $   9,678,798  $ 10,144,639 [3]  $   9,794,165  $   9,742,951 [4]  $   9,995,240 [5]  $ 10,031,747 [6]  $ 10,292,699 [7]  $ 10,601,480
Benefits 5.0%           3,250,207       3,436,173       3,755,388       3,804,262       4,500,000 [8]       4,725,000       4,894,062       5,138,765       5,395,703
Energy 5.0%              421,641          583,946          750,600          671,237          704,799          740,039          746,802          784,142          823,349
New Debt Service   N/A   N/A   N/A   N/A        1,739,394       1,739,394       1,739,394
Transfer to Capital Reserve  N/A   N/A   N/A   N/A   N/A   N/A   N/A 
All Other Expenses 2.0%           3,523,602       3,181,406 [9]       3,743,264       4,012,052       4,092,293       4,174,139       4,233,264       4,317,929       4,404,288
 $     16,527,552  $ 16,880,323  $ 18,393,891  $ 18,281,716  $ 19,040,043  $ 19,634,417  $ 21,645,268  $ 22,272,929  $ 22,964,214
Total Revenues  $     17,253,236  $ 17,305,827  $ 18,068,661  $ 18,281,716  $ 19,040,043  $ 19,634,417  $ 21,645,268  $ 22,272,929  $ 22,964,214
Total Expenses         16,527,552     16,880,323     17,056,955     18,281,716     19,040,043     19,634,417     21,645,268     22,272,929     22,964,214
     Actual or Projected Budget  Surplus (Deficit)  $          725,684  $      425,504  $   1,011,706  $                  -  $                  -  $                  -  $                  -  $                  -  $                  -
Actual or Projected Undesignated Fund Balance  $          529,639  $      725,449  $      735,756  $      731,269  $      761,602  $      785,377  $      865,811  $      890,917  $      918,569
* Sustainable = over a 5-year period, educational/support programs intact, revenues match expenditures, and undesignated fund balance is stable at 4%
2006-07 2007-08 2008-09 2009-10
Total Staff (Sept) 211 213 215 205
Total Students (Sept) 997 978 929 911
[1]
whogan:
5 year average is 4.56%
use 4.5%
[2]
sandy:
Increasing due to QIII level of services
[3]
whogan:
average 2.96% over 5 years
[4]
sandy:
Retirement savings 3 teachers
[5]
sandy:
Assumes 2 retirements
@20k savings each
[6]
sandy:
Assumes savings with 2 retirement @ 20k
[7]
sandy:
2 retirements
[8]
sandy:
Assumes double digit increases to ERS & TRS as well as Health Insurance
[9]
whogan:
only inc by 2%