Monthly Projection Report – Operating Funds (Cash Basis) For Fiscal Year Ending 6/30/2022 As of January 31, 2022

The adopted revenue budget for FY22 operations was $239.2 million and we are currently forecasting FY22 operating revenue to be $244.2 million, or $5.0 million more than originally budgeted. The principal differences between operating revenue sources are:

• Local Property Taxes (+$0.7)
• Sales Tax (+$2.4)
• Interest on Deposits and Investments (-$0.1)
• VICC (+$0.3)
• State Assessed Railroad and Utilities (+$0.1)
• Foundation Formula and Classroom Trust (-$0.2)
• Transportation (+$0.2)
• CARES Act (+1.3)
• Other Federal Funding (+$0.3)

The adopted expenditure budget for FY22 operations was expected to be $239.6 million and is currently forecasted to be $241.1 million, or $1.5 million more than originally budgeted. The principal differences are:

• Salaries and benefits (+$0.1)
• General Lines of Insurance (-$0.7)
• Transportation and fuel (+$0.2)
• Utilities (-$0.4)
• Textbooks (+$0.5)
• Capital outlay and lease purchase debt retirement (+$1.8)

The adopted budgeted 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, 2022 is anticipated to be $68.8 million (28.5%). The combined projected revenues, expenditures and transfers result in a (+$3.5) million variance in comparison with the original budget.