Monthly Projection Report – Operating Funds (Cash Basis) For Fiscal Year Ending 6/30/2022 As of March 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)
• Financial Institution Tax (-$0.2)
• Interest on Deposits and Investments (-$0.1)
• VICC (+$0.3)
• State Assessed Railroad and Utilities (+$0.1)
• 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 $241.0 million, or $1.4 million more than originally budgeted. The principal differences are:

• Salaries and benefits (-$0.1)
• General Lines of Insurance (-$0.7)
• Transportation and fuel (+$0.3)
• Utilities (-$0.6)
• Textbooks (+$0.5)
• Supplies and Services (-$0.2)
• Capital outlay and lease purchase debt retirement (+$2.2)

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, 2022 is anticipated to be $68.9 million (28.6%). The combined projected revenues, expenditures and transfers result in a (+$3.6) million variance in comparison with the original budget.