1. Cedar Grove – Belgium Area School District Annual Meeting October 26, 2015

2. Analysis of Historical Revenue AuditedBudget 11-1212-1313-1414-1515-16 State Equalization Aid 5,218,016 5,823,013 5,658,513 5,761,508 5,899,477 Other State Aid 573,721 423,113 443,984 524,358 519,117 Property Tax 4,146,376 4,798,221 5,039,944 5,033,682 4,533,609 Federal Aid 376,910 255,354 296,932 349,769 455,535 Other Revenue 444,818 433,407 474,960 554,551 570,107 TOTAL 10,759,841 11,733,109 11,914,333 12,223,868 11,977,845

3. Analysis of Historical Expenses AuditedBudget 11-1212-1313-1414-1515-16 Salaries 6,274,884 6,172,852 6,170,491 6,172,067 6,395,998 Fringes 2,030,817 2,095,878 2,004,029 2,090,528 2,156,564 Services(Utilities/Transportation) 1,510,398 1,582,809 1,946,737 1,872,965 2,237,137 Supplies 358,114 383,023 437,788 510,427 682,732 Capital Projects 319,359 261,799 758,189 392,858 807,450 Other 1,027,711 1,139,471 1,613,403 1,456,508 1,171,232 TOTAL 11,521,283 11,635,832 12,930,637 12,495,353 13,451,113

4. Analysis of Fund Balance Changes Most accounting firms recommend a fund balance of anywhere between 20% and 30%. CGBSD’s is currently 30.01% and expected to finish the year at 20.41%. AuditedBudget 11-1212-1313-1414-1515-16 Fund Balance 2,836,390 3,615,870 3,298,438 3,750,222 3,000,224

5. Analysis of Tax Levy Changes AuditedBudget 11-1212-1313-1414-1515-16 Fund 10 4,146,376 4,798,221 5,039,944 5,033,682 4,533,609 Fund 38 136,601 - - - 110,500 Fund 39 1,126,490 501,741 366,018 534,459 824,030 Fund 80 129,140 - - - 100,000 TOTAL 5,538,607 5,299,962 5,405,962 5,568,141 5,568,139

6. Analysis of Equalized Property Value in the District 11-1212-1313-1414-1515-16 Equalized Value in the District 597,476,749 571,490,031 553,524,407 544,847,579 540,761,526