1. Updated FY2012 Revenue & Expenditures Park Hill Board of Education June 9, 2011

2. Budget Timeline November-December, 2010 ◦Preparation of FY2011 Budget Guidelines January 13, 2011 ◦FY2012 Budget Assumptions January - February, 2011 ◦2011-2012 Budget Manual and budget allocations distributed to district budget leaders ◦Budget reviews for each unit February 24, 2011 ◦Presentation to the Board: Demographic Profile & Enrollment Projections March 24, 2011 ◦Presentation to Board of Education: Preliminary Revenue Budget for FY2012

3. Budget Timeline April 28, 2011 ◦Presentation to Board of Education: Preliminary FY2012 Expenditure Budget May 26, 2011 ◦Presentation to Board of Education: Updated FY2012 revenue and expenditure budgets June 9, 2011 ◦Presentation to Board of Education: Updated FY2012 revenue and expenditure budgets June 23, 2011 ◦Presentation to Board of Education: FY2011 Budget Amendment and recommendation for approval of FY2012 Budget August 25, 2011 ◦Board of Education – Set the 2011-2012 Tax Rate

4. Operating Revenue RevenueAmount FY2012 Projected Revenue$119.8 million Use of FY2011 Fund Balance$1.3 million Total Budgeted Revenue$121.1 million

5. Current Park Hill School District Tax Levy FundLevy Fund 1 – Operational/Incidental4.7573 Fund 2 – Teachers / Special Revenue0.0000 Fund 3 – Debt Service0.6107 Fund 4 – Capital Projects0.0453 TOTAL LEVY5.4133

6. Current Park Hill School District Tax Levy FundLevy Fund 1 – Operational/Incidental4.7573 Fund 2 – Teachers / Special Revenue0.0000 Fund 4 – Capital Projects0.0453 OPERATIONAL SUBTOTAL4.8026 Fund 3 – Debt Service0.6107 TOTAL LEVY5.4133

7. Operational Tax Levy Terminology Tax Levy2010-2011 Amount Estimated 2011-2012 Amount Maximum Authorized Levy Sum of Levy in Funds 1+2+4 Based on last voter approved levy rate Does not change until new election $4.9970 Tax Rate Ceiling Sum of Levy in Funds 1+2+4 Adjusted annually by State Auditor due to application of Hancock Amendment, Senate Bill 711 and/or voluntary rollbacks $4.8026 estimate $4.8312 $0.0286 increase Actual Levy Sum of Levy in Funds 1+2+4 Adjusted annually by local Board of Education $4.8026 To Be Set August, 2011 Debt Service Levy Levy in Fund 3 Annually set by local Board of Education to pay back debt $0.6107

8. 2011 District Assessed Valuation Assessed Valuation ◦2011 is an official “reassessment year” and county reassessment resulted in a net negative assessed valuation of existing real property in the Park Hill School District. $1,452,010,209 2010 $1,443,399,947 2011 $ (8,610,262) x x $4.8026 Per $100 of AV $4.8026 Per $100 of AV = = $69,734,242 $69,320,725 Year Assessed Valuation of Existing Real Property Tax CeilingRevenue $ (413,516) Assessed Valuation Revenue $4.8312 Per $100 of AV $ 0 $69,734,242

9. Changes Assessed Valuation Reassessment of Real Property Changes in Personal Property New Growth $1,452,010,209 2010 $1,452,010,209 2011 Reassessment of Existing Property-$5,864,733 Changes in Personal Property-$2,965,012 New Growth$10,236,085 $1,453,636,032 Subtotal $1,443,180,464

10. Expenditures Operating Expenditures ◦For balanced budget, budgeting $121.1 million in operating expenditures

11. FY2012 Budgeted Operating Expenditures

12. Updated FY2012 Revenue & Expenditures Park Hill Board of Education June 9, 2011