Monthly Projection Report – Operating Funds (Cash Basis) For Fiscal Year Ending 6/30/2023 As of February 28, 2023

The adopted revenue budget for FY23 operations was $251.7 million and we are currently forecasting FY23 operating revenue to be $263.8 million, or $12.1 million more than originally budgeted. The principal differences between operating revenue sources are:

• Local Property Taxes (+$4.9)
• Sales Tax (+$1.0)
• Interest on Deposits and Investments (+$2.1)
• State Assessed Railroad and Utilities (-$0.1)
• Early Childhood Special Education (+$0.2)
• Basic Formula (+$0.3)
• Transportation (+$3.1)
• Other Revenue (+$0.6)

The adopted expenditure budget for FY23 operations was expected to be $252.2 million and is currently forecasted to be $258.7 million, or $6.5 million more than originally budgeted. The principal differences are:

• Salaries and benefits (+$3.4)
• General Lines of Insurance (-$0.5)
• Transportation and fuel (+$0.4)
• Supplies and Services (+$0.5)
• Capital outlay and lease purchase debt retirement (+$2.7)

The adopted budget included $0.6 million in fund balance transfer from the Child Nutrition Services. Based on current projection, the ending cash basis fund balance at June 30, 2023 is anticipated to be $79.4 million (30.7%). The combined projected revenues, expenditures and transfers result in a (+$5.7) million variance in comparison with the original budget.