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

The adopted revenue budget for FY20 operations was $233.6 million and we are currently forecasting FY20 operating revenue to be $236.7 million, or $3.1 million more than originally budgeted. The principal differences between operating revenue sources are:

• Local Property Taxes (+$1.2)
• Sales Tax ($+0.2)
• State Assessed Railroad and Utilities (+$0.1)
• Fines and Forfeitures (+$0.1)
• Foundation Formula and Classroom Trust (+$1.6)
• Transportation (+$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 $234.8 million, or $0.6 million more than originally budgeted. The principal differences are:

• Salaries and benefits (+$1.0)
• Transportation and fuel (-$0.2)
• Utilities (-$0.5)
• Textbooks (-$0.6)
• Capital outlay and lease purchase debt retirement (+$0.9)

Our forecasted budgeted transfer in the operating fund includes $0.7 million from the Child Nutrition Services and Other Activity Building Usage Funds. We have reduced our forecasted transfers to only include the Child Nutrition Services transfer of $0.6 million. Based on current projection, the ending cash basis fund balance at June 30, 2020 is anticipated to be $52.1 million (22.2%). The combined projected revenues, expenditures and transfers result in (+$2.3) million variance in comparison with the original budget.