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Unaudited Actuals June 30, 2010

Unaudited Actuals June 30, 2010. General Fund, Special Revenue, Capital and Debt Service Funds. Unaudited Actuals June 30, 2010 September 14, 2010. Unaudited Actuals June 30, 2010. All funds solvent General fund at 3% reserve for economic uncertainty, $1,763,248

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Unaudited Actuals June 30, 2010

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  1. Unaudited Actuals June 30, 2010 General Fund, Special Revenue, Capital and Debt Service Funds Unaudited Actuals June 30, 2010 September 14, 2010

  2. Unaudited Actuals June 30, 2010 • All fundssolvent • General fund at 3% reserve for economic uncertainty, $1,763,248 • Medium growth scenario with, April apportionment attendance at 5,801 • Designations $1.5 Million in budget plan • School site carryovers $ 263,248 • Undesignated $728,181 Unaudited Actuals June 30, 2010 September 14, 2010

  3. Unprecendented Cuts made after Close of Prior Year • District revenue limit and categorical cuts at $5.3 Million in 2008-9 • After prior year another $1.4 Million reduced in September 2009 • School districts warned of more mid year cuts, likely reductions at 3 different times during year Unaudited Actuals June 30, 2010 September 14, 2010

  4. Reinstatements Implemented • Must proceed cautiously due to state revenue collection weaknesses • Outlook long term, more than one year • District reinstated in Oct 2009 • 2 furlough days • Reinstatement counseling • Site supplies (half of site SLIP funding) • Set aside $1.3 Million for state reductions (collaboration) Unaudited Actuals June 30, 2010 September 14, 2010

  5. Special Education • Contribution from general fund increased from prior year $634,624 (one time federal) • The special education population growth needed added capacity • Teachers, speech therapist, and psychologist full time equivalents added Unaudited Actuals June 30, 2010 September 14, 2010

  6. Unrestricted Fund Unrestricted General Fund • Fund balance saw decrease of $2,601,888 • $1.4 Million Revenue Limit Reduction • Spending of Federal Stimulus dollars • An aggressive energy savings program over $300,000 Unaudited Actuals June 30, 2010 September 14, 2010

  7. Special Revenue Fund Child Nutrition Fund • Federal and State revenues decreased due to rate reductions from state • Food costs are increasing, even with high commodity usage • Increased transfer in at end $30,000 Unaudited Actuals June 30, 2010 September 14, 2010

  8. Adult Fund • Decreased fund balance, due to flex transfer to general fund, $1,491 fund balance • Program expenditures remain within budgeted amounts Unaudited Actuals June 30, 2010 September 14, 2010

  9. Special Revenue FundDeferred Maintenance • Fund balance decreased from prior year to $185,178 • Over $.5 Million transferred to general fund Unaudited Actuals June 30, 2010 September 14, 2010

  10. Special Reserve Fund • Fund balance at year end $1,599,829 • $399,829 planned for general fund usage • $1.2 Million remaining for mid year cuts or for 2011-2012 budget reductions Unaudited Actuals June 30, 2010 September 14, 2010

  11. Capital Fund - Building Fund • Bond fund ending balance is $39,581,156 • Fourth full year of bond activity • Technology, Dublin High School Humanities, Admin, Social Sciences, Athletics, Dublin Elementary, Wells outdoor lunch shelter enclosure Unaudited Actuals June 30, 2010 September 14, 2010

  12. Capital Facilities Fund • Developer fees and mitigation fees began small escalations but still slow • Fund balance at end of year $3,929,669 • Funds being reserved to fund the initial cash flows of Kolb Elementary School • District will be reimbursed by state funding someday Unaudited Actuals June 30, 2010 September 14, 2010

  13. Capital FundCounty School Facilities Fund • Fund balance at end of year $399,356 • Primary funded items in this fund were Kolb Elementary construction • Awaiting state funding Unaudited Actuals June 30, 2010 September 14, 2010

  14. Board Direction and Approval • Approval of Unaudited Actuals Required • Consider reinstatement of items • Fiscal Advisory Committee Unaudited Actuals June 30, 2010 September 14, 2010

  15. Any Questions ? Unaudited Actuals June 30, 2010 September 14, 2010

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