1. Budget Workshop RYAN KAHLDEN AUGUST 10, 2015

2. Adoption Requirements  Before the start of the fiscal year the school board must adopt a budget for:  General Fund – (distributed on flash drive July 27)  Interest & Sinking Fund  Child Nutrition Fund  We will present budget for capital projects fund and special revenue funds (when available)

3. Interest & Sinking Fund  Used to maintain funds received for the specific purpose of the repayment of a legal obligation.  Source of funds – property taxes  Legal obligations – outstanding bonds  I&S tax rate (2014): $0.2589  Proposed I&S tax rate (2015): $0.3839

4. Interest & Sinking Fund Proposed Budget Comparison Original 2014-2015 Budget DescriptionAmount 5700Local Revenue$ 11,509,520 5900Fed Revenue 100,000 Total Revenue$ 11,609,520 71Debt Service 10,835,665 BudgetedRev over Exp $ 773,855 Proposed 2015-2016 Budget DescriptionAmount 5700Local Revenue$ 11,903,502 5900Fed Revenue 100,000 Total Revenue$ 12,003,502 71Debt Service 11,163,232 BudgetedRev over Exp$ 840,270 Final 2014-2015 budget will be significantly different than Original budget due to refunding bonds issued.

5. Child Nutrition Fund  Used to run the food service operations of the District  Breakfast and Lunch programs daily  Summer feeding program  Catering operations – as requested  Most pressing issue: excess fund balance  Being addressed

6. Child Nutrition Fund Proposed Budget Comparison Original 2014-2015 Budget DescriptionAmount 5700Local Revenues$ 1,356,116 5800State Revenues 90,857 7900Other Resources 2,161,435 Total Revenue$ 3,608,408 35Food Service$ 3,533,168 51Plant Maint & Operations 75,240 Total Expenses$ 3,608,408 Proposed 2015-2016 Budget DescriptionAmount 5700Local Revenues$ 1,407,900 5800State Revenues 95,837 7900Other Resources 2,290,303 Total Revenue$ 3,794,040 35Food Service$ 3,715,980 51Plant Maint & Operations 78,060 Total Expenses$ 3,794,040

7. Capital Projects Fund  Used to account for resources (bond proceeds) for construction projects.  Three bond issues in FY 15  November partial refunding issue  April refunding issue  July issuance of new funds ($75,000,000)

8. Capital Projects Fund Proposed Budget  Budgeted revenue  $10,000 – investment earnings  Currently in TexPool account  Looking into higher yielding products  Budgeted Expenditures  $75,000,000 – bond proceeds  Won’t spend entire amount in 1 year  Current estimate from architect: $3,165,000

9. Any Questions?