Monthly Projection Report – Operating Funds (Cash Basis) For Fiscal Year Ending 6/30/2021 As of December 31, 2020

The adopted revenue budget for FY21 operations was $234.5 million and we are currently forecasting FY21 operating revenue to be $237.4 million, or $2.9 million more than originally budgeted. The principal differences between operating revenue sources are:

• Local Property Taxes (-$1.0)
• Sales Tax (+$1.4)
• Interest on Deposits and Investments (-$0.4)
• VICC (+0.1)
• State Assessed Railroad and Utilities (-$0.5)
• Foundation Formula and Classroom Trust (+$0.2)
• Transportation (-$0.1)
• CARES Act (+1.9)
• Other Federal Funding (+$1.3)

The adopted expenditure budget for FY21 operations was expected to be $237.7 million and is currently forecasted to be $240.5 million, or $2.8 million more than originally budgeted. The principal differences are:

• Salaries and benefits (+$0.1)
• General Lines of Insurance (-$0.1)
• Transportation and fuel (-$0.2)
• Utilities (-$1.5)
• Textbooks (+$0.4)
• Supplies and services (+$2.2)
• Capital outlay and lease purchase debt retirement (+$1.9)

Our forecasted budgeted transfer in the operating fund includes $0.6 million from the Child Nutrition Services. Based on current projection, the ending cash basis fund balance at June 30, 2021 is anticipated to be $58.0 million (24.1%). The combined projected revenues, expenditures and transfers result in a (+$0.1) million variance in comparison with the original budget.