Monthly Projection Report – Operating Funds (Cash Basis) For Fiscal Year Ending 6/30/2020 Final as of June 30, 2020

The adopted revenue budget for FY20 operations was $233.6 million and actual FY20 operating revenue is $240.5 million, or $6.9 million more than originally budgeted. The principal differences between operating revenue sources are:

• Local Property Taxes (+$6.3)
• Sales Tax (-$0.2)
• Financial Institution Tax (+$0.7)
• Interest on Deposits and Investments (+$0.1)
• Fines and Forfeitures (+$0.1)
• Foundation Formula and Classroom Trust (+$0.6)
• Transportation (-$0.1)
• Title I (-$0.4)
• Early Childhood Special Education Grant (-$0.2)

The adopted expenditure budget for FY20 operations was expected to be $234.2 million and is actual FY20 operating expenditures is $230.9 million, or $3.3 million less than originally budgeted. The principal differences are:

• Salaries and benefits (-$0.3)
• Business insurance (-$0.2)
• Transportation and fuel (-$0.4)
• Utilities (-$1.3)
• Textbooks (-$1.8)
• Supplies and services (-$1.2)
• Capital outlay and lease purchase debt retirement (+$1.9)

Our actual operating transfer from the Child Nutrition Fund, Other Operating Activities and Capital Projects Fund was $1.0 million compared to the budgeted transfer of $0.7 million. Our fund balance increased $10.6 million for an ending cash fund balance at June 30, 2020 of $60.3 million (26.1%).