Monthly Projection Report – Operating Funds (Cash Basis) For Fiscal Year Ending 6/30/2023 As of January 31, 2023

The adopted revenue budget for FY23 operations was $251.7 million and we are currently forecasting FY23 operating revenue to be $261.6 million, or $9.9 million more than originally budgeted. The principal differences between operating revenue sources are:

• Local Property Taxes (+$2.9)
• 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 (+0.2)
• Transportation (+$3.1)
• Other Revenue (+$0.5)

The adopted expenditure budget for FY23 operations was expected to be $252.2 million and is currently forecasted to be $257.1 million, or $4.9 million more than originally budgeted. The principal differences are:

• Salaries and benefits (+$1.8)
• General Lines of Insurance (‐$0.5)
• Transportation and fuel (+$0.2)
• Utilities (‐$0.1)
• Supplies and Services (+$0.5)
• Capital outlay and lease purchase debt retirement (+$3.0)

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 $78.8 million (30.6%). The combined projected revenues, expenditures and transfers result in a (+$5.1) million variance in comparison with the original budget.