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

The adopted revenue budget for FY21 operations was $234.5 million and we are currently forecasting FY21 operating revenue to be $239.0 million, or $4.5 million more than originally budgeted. The principal differences between operating revenue sources are:

• Local Property Taxes (-$1.0)
• Sales Tax (+$1.4)
• Interest on Deposits and Investments (-$0.4)
• VICC (+$0.2)
• Other Local Revenue (-$0.4)
• State Assessed Railroad and Utilities (-$0.5)
• Foundation Formula and Classroom Trust (+$1.9)
• CARES Act (+1.7)
• Other Federal Funding (+$1.6)

The adopted expenditure budget for FY21 operations was expected to be $237.7 million and is currently forecasted to be $237.6 million, or $0.1 million less than originally budgeted. The principal differences are:

• Salaries and benefits (-$0.5)
• General Lines of Insurance (-$0.1)
• Transportation and fuel (-$0.2)
• Utilities (-$1.7)
• Textbooks (+$0.4)
• Capital outlay and lease purchase debt retirement (+$2.0)

The adopted budgeted included $0.6 million in fund balance transfer from the Child Nutrition Services. In order to assist the Child Nutrition Services, we have removed the fund balance transfer from our forecast as the Child Nutrition Services activities have been significantly impacted by changes to the school breakfast and lunch programs in the 2020-21 school year. Based on current projection, the ending cash basis fund balance at June 30, 2021 is anticipated to be $62.1 million (26.1%). The combined projected revenues, expenditures and transfers result in a (+$4.3) million variance in comparison with the original budget.