FISCAL YEAR Financial Report October 2007 Year To Date

OCTOBER 2007 EXECUTIVE SUMMARY $332M Annual GOB Budget/Total Budget $447M GOB Revenues are tracking above budget with a $4.3M positive variance Total year-end revenue projections of $333M reflect a $4M shortfall in local revenues, which will be offset by an anticipated $4M in additional revenues from the state basic formula

EXECUTIVE SUMMARY Continued Total GOB Expenditures are tracking below budget with a $1.1M positive variance A 22% increase in health benefit premiums is projected for the last six months of the fiscal year Non-payroll expenditures are currently tracking on target with budget, but an additional $2M in transportation expenditures is projected by year end

The Districts $6M GOB cash balance thru October is tracking as projected and is sufficient to cover current operations Non-General Operating Funds o Revenues tracking close to expenditures EXECUTIVE SUMMARY Continued Total District Cash $139M

EXECUTIVE SUMMARY Continued Budget Concerns o Projected Year-end Deficit o Additional Charter School Payments o Transportation o Property Sales Shortfall

ST. LOUIS PUBLIC SCHOOLS GENERAL OPERATING FUNDS FINANCIAL REPORT OCTOBER 2007 In Thousands BEGINNING FUND BALANCE($13,612) REVENUES $332,610$56,868$333,048 EXPENDITURES $332,188$86,071$334,821 JUNE 2008 FUND BALANCE ($15,385) (OCTOBER PROJECTION) BUDGET YEAR-TO DATE YEAR-END PROJECTION

FY 2008 Budget Creep NOV 29 SLPS || FY 2008 Budget Concerns 1. Academics $4.2M Virtual Schools AP Salaries E-Mints 2.Operations $4.3M Property Sales Transportation School Reconfigurations 3.Financial $4.6M Early Severance Plan Benefits (Medical, Dental, Vision, STD, LTD)

How will Creeps be Resolved? NOV 29 SLPS || FY 2008 Budget Concerns 1. Contingencies 2. Favorable Budget Variances (e.g. Previously Vacant Positions) 3. Current Unfunded Programs & Initiatives Reduction in Charter School Payments Reallocation of Resources/Hiring Delays Additional Property Sales/Facility Closings