FORSYTH COUNTY SCHOOLSFY 2014 BUDGET

FINAL BUDGET APPROVALJUNE 20, 2013

GENERAL FUND OVERVIEW FORSYTH COUNTY BOARD OF EDUCATION BUDGETED REVENUES AND EXPENDITURES FISCAL YEAR 2013-2014

INCREASEREVENUES FY 2014 BUDGET FY 2013 BUDGET (DECREASE)

LOCAL 128,989,243 125,135,598 3,853,645STATE 145,850,816 136,968,990 8,881,826

TOTAL REVENUES 274,840,060 262,104,588 12,735,471

INCREASEEXPENDITURES FY 2014 BUDGET FY 2013 BUDGET (DECREASE)

FUNCTION

INSTRUCTION 207,308,137 195,448,444 11,859,693PUPIL SERVICES 6,402,786 5,891,705 511,081IMPROVEMENT OF INSTRUCTION 4,006,430 4,263,621 (257,191)MEDIA SERVICES 3,373,377 3,423,487 (50,110)GENERAL ADMINSTRATION 890,908 925,808 (34,900)SCHOOL ADMINISTRATION 17,475,885 16,853,579 622,306BUSINESS SERVICES 1,781,727 1,704,272 77,455MAINTENANCE & OPERATIONS 24,488,815 22,940,643 1,548,172TRANSPORTATION 14,225,707 13,236,882 988,825CENTRAL SUPPORT SERVICES 6,177,434 5,702,877 474,557OTHER SUPPORT SERVICES 90,780 94,572 (3,792)CAPITAL OUTLAY 0 109,000 (109,000)

TOTAL EXPENDITURES 286,221,986 270,594,888 15,627,098

EXCESS REVENUE OVER (UNDER) EXPENDITURES (11,381,926)

FUND BALANCE CARRYOVER 11,381,926

EXPENDITURES BY FUNCTION

FY 2014 BUDGETED EXPENDITURES

% OF FY 2014 FY 2014OPERATING SALARIES & OPERATING FY 2013 INCREASE PERCENT

FUNCTION BUDGET BENEFITS EXPENSES TOTAL BUDGET (DECREASE) CHANGE

1000 INSTRUCTION 72.43% 200,923,495 6,384,642 207,308,137 195,448,444 11,859,693 6.07%2100 PUPIL SERVICES 2.24% 3,922,967 2,479,819 6,402,786 5,891,705 511,081 8.67%2210 IMPROVEMENT OF INST 1.40% 3,429,068 577,362 4,006,430 4,263,621 (257,191) -6.03%2220 MEDIA SERVICES 1.18% 3,093,142 280,235 3,373,377 3,423,487 (50,110) -1.46%2300 GENERAL ADMIN 0.31% 648,128 242,780 890,908 925,808 (34,900) -3.77%2400 SCHOOL ADMIN 6.11% 17,449,385 26,500 17,475,885 16,853,579 622,306 3.69%2500 BUSINESS SERVICES 0.62% 1,494,723 287,004 1,781,727 1,704,272 77,455 4.54%2600 MAINT & OPERATION 8.56% 10,193,326 14,295,489 24,488,815 22,940,643 1,548,172 6.75%2700 TRANSPORTATION 4.97% 10,808,787 3,416,920 14,225,707 13,236,882 988,825 7.47%2800 CENTRAL SUPPORT 2.16% 3,637,678 2,539,756 6,177,434 5,702,877 474,557 8.32%2900 OTHER SUPPORT 0.03% 23,406 67,374 90,780 94,572 (3,792) -4.01%4000 CAPITAL OUTLAY 0.00% 0 0 0 109,000 (109,000) -100.00%

1.00 255,624,105 30,597,881 286,221,986 270,594,888 15,627,098 5.78%

FY 2014 89.31% 10.69% FY 2013 89.65% 10.35%

GENERAL FUND REVENUESBASED ON ESTIMATED 2014 QBE ALLOTMENT SHEET

REVENUESINCREASE

LOCAL REVENUES FY 2014 BUDGET FY 2013 BUDGET (DECREASE)

AD VALOREM TAXES @ 16.3 MILLS 123,811,943 121,158,167 2,653,776 INTANGIBLE TAXES 4,000,000 3,000,000 1,000,000 REAL ESTATE TRANSFER TAXES 825,000 625,000 200,000 INTEREST INCOME 125,000 125,000 0 OTHER LOCAL REVENUE 227,300 227,431 (131)

128,989,243 125,135,598 3,853,645 3.08%

STATE AND FEDERAL REVENUES NET QBE FORMULA EARNINGS 144,814,989 135,831,346 8,983,643 OTHER STATE SOURCES 785,827 887,644 (101,817) FEDERAL INDIRECT COST 50,000 50,000 0 FEDERAL FLOOD CONTROL FUNDS 200,000 200,000 0

145,850,816 136,968,990 8,881,826 6.48%

TOTAL REVENUES 274,840,060 262,104,588 12,735,471 4.86%

Tax Revenue Projection 2013-2014PROJECTED DIGEST

Projected Gross Digest 9,142,840,703 2013 Exemptions (1,352,251,252) Net Digest 7,790,589,451

Millage Rate 16.3

Gross Revenue 126,986,608

Commission 2.5% 3,174,665

Net Available Revenue 123,811,943

QBE Formula Earnings2014 formula earnings estimate 139,814,989Midterm earnings estimate 5,000,000

Net QBE 144,814,989

SALARY AND BENEFIT INCREASESPOSITION CHANGESGENERAL FUND FY 2014 BUDGET

ANNUAL SALARYSCHOOL BASED POSITIONS & BENEFITS

TEACHER 80.00 5,814,080ASSISTANT PRINCIPAL 1.00 103,743CLERICAL 1.00 40,109

TOTAL 82.00 5,957,932

NON-INSTRUCTIONAL POSITIONS

BUS DRIVER 15.00 389,925

ESTIMATED CHANGE 97.00 6,347,857

CHANGE IN BENEFIT COSTSSTATE HEALTH FOR NON-CERTIFIED STAFF 2,304,000.00TEACHERS RETIREMENT 1,500,000.00

3,804,000.00

TOTAL SALARY AND BENEFIT CHANGES 10,151,857.00

ADDITIONAL ADDS SINCE ORIGINAL BUDGET

CHANGES TO ALLOTMENT SHEET SINCE TENATIVE APPROVAL

TEACHER 1.00 72,676.00PARPAPRO SPEC ED 5.00 160,770.00SPEECH LANGUAGE 0.50 36,338.00

6.50 269,784.00CHANGES DUE TO MIDWAY REDISTRICT

TEACHER 2.00 145,352.00COUNSELOR 0.50 36,338.00ASSISTANT PRINCIPAL -1.00 -103,744.00

1.50 77,946.00TEXTS ADDED TOTAL CHANGE

ADDITIONAL STAFFING 8.00 347,730.00 174,000.00 521,730.00

2% SALARY INCREASE WITH BENEFITS 4,247,805.00

TOTAL SALARY AND BENEFIT CHANGES 105.00 14,747,392.00

DEBT SERVICES 2014REVENUEAD VALOREM 18,654,446INTANGIBLE 700,000REAL ESTATE XFER TAX 125,000

TOTAL REVENUES 19,479,446

OTHER FUNDING SOURCESXFER IN FROM SPLOST 4 28,153,800XFER IN FROM SPLOST 4 AGENCY 4,000

TOTAL OTHER SOURCES 28,157,800

TOTAL REVENUES AND OTHER SOURCES 47,637,246

EXPENDITURESPRINCIPAL (910) 32,855,000INTEREST (830) 15,004,400AGENT FEES (810) 8,000

TOTAL EXPENDITURES 47,867,400

EXCESS REVENUE OVER (UNDER) EXPENSE (230,154)

EST. FUND BALANCE 6/30/2013 8,417,525

EST. FUND BALANCE 6/30/2014 8,187,371

CAPITAL PROJECTS 2014

REVENUESSALES TAX 31,200,000

TOTAL REVENUES 31,200,000

EXPENDITURESCAPITAL OUTLAY 11,254,201DEBT SERVICE PAYMENTS (SPLOST RELATED) 0

TOTAL EXPENDITURES 11,254,201

EXCESS REVENUE OVER (UNDER) EXPENSE 19,945,799

OTHER SOURCES (USES)TRANSFERS IN 0TRANSFERS OUT (TO DEBT SVCS) (24,894,375)

TOTAL OTHER SOURCES (USES) (24,894,375)

NET CHANGE IN FUND BALANCE (4,948,576)

FUND BALANCE 7/1/2013 11,254,201

FUND BALANCE 6/30/2014 6,305,625

SCHOOL FOOD SERVICES 2014SCHOOL FOOD SERVICES BUDGET FY 2014

INCREASEFY2014 FY2013 (DECREASE)

REVENUESLOCAL 9,337,892 10,112,969 (775,077)STATE 380,011 375,823 4,188FEDERAL 6,395,797 5,690,092 705,705

TOTAL REVENUES 16,113,700 16,178,884 (65,184)

EXPENDITURESSALARIES-CLERICAL 77,402 107,777 (30,375)SALARIES-SFS WORKERS 4,703,882 4,587,118 116,764SALARIES-ADMINISTRATIVE 287,850 298,267 (10,417)EMPLOYEE BENEFITS 2,951,247 2,384,829 566,418PROFESSIONAL SERVICES 12,500 20,000 (7,500)REPAIRS AND MAINTENANCE 10,000 10,000 0EMPLOYEE TRAVEL 36,600 43,600 (7,000)COMMODITY HAULING 54,000 44,500 9,500SUPPLIES & MATERIALS 771,500 1,002,000 (230,500)JANITORIAL SUPPLIES 27,450 29,000 (1,550)COMPUTER SOFTWARE 55,000 39,000 16,000EXPENDABLE EQUIPMENT 2,500 5,000 (2,500)FOOD 6,081,652 6,467,535 (385,883)FOOD ACQUISITIONS-USDA 1,051,428 828,402 223,026EQUIPMENT 130,598 150,000 (19,402)COMPUTER EQUIPMENT 30,000 50,500 (20,500)DUES AND FEES 28,560 29,250 (690)OTHER EXPENSE 30,000 75,000 (45,000)

TOTAL EXPENSES 16,342,169 16,171,778 170,391

EXCESS REVENUES OVER (UNDER) EXPENDITURES (228,469) 7,106 (235,575)