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

The adopted revenue budget for FY21 operations was $234.5 million and we are currently forecasting FY21 operating revenue to be $237.0 million, or $2.5 million more than originally budgeted. The principal differences between operating revenue sources are:

• Local Property Taxes (-$1.3)
• Sales Tax (+$1.4)
• Interest on Deposits and Investments (-$0.4)
• VICC (+$0.2)
• Other Local Revenue (-$0.2)
• 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 $239.9 million, or $2.2 million more than originally budgeted. The principal differences are:

• Salaries and benefits (-$0.4)
• General Lines of Insurance (-$0.1)
• Transportation and fuel (-$0.2)
• Utilities (-$1.6)
• 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 $58.2 million (24.3%). The combined projected revenues, expenditures and transfers result in a (+$0.3) million variance in comparison with the original budget.