Monthly Projection Report – Operating Funds (Cash Basis) For Fiscal Year Ending 6/30/2020 As of April 30, 2020

The adopted revenue budget for FY20 operations was $233.6 million and we are currently forecasting FY20 operating revenue to be $237.9 million, or $4.3 million more than originally budgeted. The principal differences between operating revenue sources are:

• Local Property Taxes (+$3.0)
• Sales Tax (-$0.7)
• Financial Institution Tax (+$0.7)
• Interest on Deposits and Investments (-$0.1)
• Other Revenue (-$0.3)
• State Assessed Railroad and Utilities (+$0.7)
• Fines and Forfeitures (+$0.1)
• Foundation Formula and Classroom Trust (+$1.3)
• Transportation (-$0.1)
• Title I (-$0.1)
• Early Childhood Special Education Grant (-$0.2)

The adopted expenditure budget for FY20 operations was expected to be $234.2 million and is currently forecasted to be $232.5 million, or $1.7 million less than originally budgeted. This projection includes the impact due to the current year school closure. The principal differences are:

• Salaries and benefits (-$0.1)
• Transportation and fuel (-$0.3)
• Utilities (-$1.0)
• Textbooks (-$0.7)
• Supplies and services (-$0.7)
• Capital outlay and lease purchase debt retirement (+$1.1)

Our forecasted budgeted transfer in the operating fund includes $0.7 million from the Child Nutrition Services and Other Activity Building Usage Funds. To assist our non-operational funds, we have reduced our forecasted transfers to zero to reflect a decrease of $0.7 million from the original budget. Based on current projection, the ending cash basis fund balance at June 30, 2020 is anticipated to be $55.4 million (23.7%). The combined projected revenues, expenditures and transfers result in (+$5.3) million variance in comparison with the original budget.