UNRESERVED FUND BALANCE

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Dwight Fisher
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1 UNRESERVED FUND BALANCE Fund balance in simple terms is the difference between fund assets and fund liabilities in a governmental fund. The appropriate portion of fund balance is the amount earmarked by the board for the subsequen year's budget. The remaining portion of the fund balance is utilized to balance the cash flow needs of the district and to allow a reserve for unexpected economic impacts on the district's revenues The financial history of the district, prospects and circumstances surrounding the economic environment must be weighed when evaluating the adequacy of the fund balance. The State College Area School District's fund balance policy is to maintain a level equivalent to 5% of the prior years budget Original Proposed Actual Budget Estimated Budget Fund Balance - Beginning $ 6,094,221 $ 6,377,785 $ 7,307,139 $ 7,273,246 Projections: Revenue 99,138, ,998, ,369, ,765,503 Expenditures 97,925, ,998, ,403, ,765,503 Transfers Fund Balance - Ending $ 7,307,139 $ 6,377,785 $ 7,273,246 $ 7,273,245 Budgeted Expenditures $ 99,328,030 $ 100,998,625 $ 100,998,625 $ 105,765,503 Percent of Total Budget 7.4% 6.3% 7.2% 6.9% Board Policy Minimum Balance of 5% $ 4,966,402 $ 5,049,931 $ 5,049,931 $ 5,288,275 Over(Under) Policy $ 2,340,738 $ 1,327,854 $ 2,223,315 $ 1,984,970 FUND BALANCE PERCENT OF BUDGET % 6.6% 6.0% 7.7% 7.0% 6.8% 6.5% 7.4% 7.2% 6.9% * 08-09** * Estimated ** Budget

2 SUMMARY OF REVENUE AND EXPENDITURES (by function) Percentage Percentage Percentage Percentage of Each of Each of Each Increase/ Category Original Category Proposed Category (Decrease) Category Actual To Total Budget To Total Budget To Total Increase/ Over (Decrease) REVENUE 6000 Local Sources $ 82,168, % $ 83,906, % $ 87,265, % $ 3,359, % 7000 State Sources 15,633, % 16,302, % 17,413, % 1,111, % 8000 Federal Sources 1,336, % 790, % 1,086, % 296, % TOTAL REVENUE $ 99,138, % $ 100,998, % $ 105,765, % $ 4,766, % EXPENDITURES 1000 Instructional $ 54,861, % $ 58,270, % $ 60,939, % $ 2,669, % 2000 Support Services 30,387, % 32,065, % 34,088, % 2,023, % 3000 Operation of Noninstructional Services 619, % 601, % 710, % 108, % 4000 Facilities Acquisition 12, % - 0.0% - 0.0% - 0.0% TOTAL EXPENDITURES 85,880, % 90,937, % 95,738, % 4,801, % 5000 Debt Service 5100 Debt Service/Other Exp & financing Uses 60, % 39, % 64, % 25, % 5200 Intrafund Transfers 11,984, % 9,747, % 9,688, % (59,227) -0.6% 5900 Budget Reserve - 0.0% 275, % 275, % - 0.0% TOTAL OTHER FINANCING 12,044, % 10,061, % 10,027, % (34,227) -0.3% USES TOTAL EXPENDITURES & $ 97,925, % $ 100,998, % $ 105,765, % $ 4,766, % SOURCES OF REVENUE $100,000,000 $90,000,000 $80,000,000 $70,000,000 $60,000,000 $50,000,000 $40,000,000 $30,000,000 $20,000,000 $10,000,000 $- Local Sources State Sources Federal Sources

3 SUMMARY OF REVENUES AND EXPENDITURES BUDGET/ESTIMATED TO BUDGET PERCENT PROPOSED INCREASE INCREASE ACCOUNT (DECREASE) ACTUAL BUDGET ESTIMATED BUDGET BUDGET 6000 REVENUE FROM LOCAL $ 82,168,650 $ 83,906,525 $ 84,123,882 $ 87,265,849 $ 3,359, % 7000 REVENUE FROM STATE 15,633,306 16,302,100 16,930,166 17,413,653 1,111, % 8000 REVENUE FROM FEDERAL 1,336, ,000 1,315,927 1,086, , % 9000 REVENUE FROM OTHER % TOTAL REVENUE SERIES $ 99,138,415 $ 100,998,625 $ 102,369,975 $ 105,765,503 $ 4,766, % 1100 REGULAR PROGRAMS $ 40,599,133 $ 43,044,302 $ 45,021,036 $ 46,093,790 3,049, % 1200 SPECIAL EDUCATION PROG 9,992,043 10,774,188 10,711,848 11,187, , % 1300 VOCATIONAL EDUC. PROG 2,229,623 2,292,859 2,374,788 2,389,730 96, % 1400 OTHER INSTRUCTIONAL PROG 1,467,473 1,757, , ,376 (877,136) -49.9% 1600 COMMUNITY EDUCATION PROG. 572, , , ,125 (13,509) -3.4% TOTAL INSTRUCTION 54,861,094 58,270,495 59,550,810 60,939,874 2,669, % 2100 PUPIL SERVICES 3,556,953 3,652,062 3,856,621 3,797, , % 2200 INSTRUCTIONAL SERVICES 3,252,284 3,732,355 3,458,471 4,013, , % 2300 ADMINISTRATION 5,146,265 5,277,059 5,318,600 5,358,493 81, % 2400 HEALTH SERVICES 891, , , ,438 (4,537) -0.5% 2500 BUSINESS SERVICES 885, , , ,405 66, % 2600 OPERATIONS 7,364,551 8,005,418 8,367,799 8,686, , % 2700 TRANSPORTATION 5,444,766 5,517,070 5,453,550 5,914, , % 2800 CENTRAL SERVICES 3,845,950 3,981,709 4,136,682 4,355, , % TOTAL SUPPORT SERVICES 30,387,978 32,065,077 32,497,677 34,088,355 2,023, % 3200 STUDENT ACTIVITIES 504, , , ,367 83, % 3300 OTHER COMMUNITY SERVICES 114,766 95,625 99, ,832 25, % TOTAL NONINSTRUCTIONAL SERVICES 619, , , , , % TOTAL FACILITIES PLANNING AND 12, % CONSTRUCTION TOTAL EXPENDITURES 85,880,783 90,937,323 92,594,858 95,738,428 4,801, % 5100 DEBT SERVICE/OTHER EXP & FINANCING USES 60,076 39,000 61,708 64,000 25, % 5200 INTERFUND TRANSFERS 11,984,638 9,747,303 9,747,302 9,688,074 (59,228) 0.0% 5900 BUDGET RESERVE - 275, , % TOTAL 12,044,714 10,061,303 9,809,011 10,027,074 (34,228) -0.3% TOTAL EXPENDITURE & $ 97,925,497 $ 100,998,625 $ 102,403,869 $ 105,765,503 $ 4,766, %

4 SUMMARY OF EXPENDITURES AND (by object) PERCENTAGE PERCENTAGE PERCENTAGE INCREASE/ OF EACH PROPOSED OF EACH DECREASE ACTUAL BUDGET CATEGORY BUDGET CATEGORY INCREASE/ OVER TO TOTAL TO TOTAL DECREASE Salaries $ 52,237,690 $ 54,496, % $ 57,251, % $ 2,755, % Fringe Benefits 16,183,863 18,166, % 18,480, % 313, % Professional Services 2,004,681 1,819, % 2,016, % 197, % Purchased Property Services 1,961,875 2,183, % 2,370, % 186, % Other Purchased Services 7,544,033 7,996, % 8,835, % 839, % Supplies 3,581,607 3,283, % 3,568, % 284, % Property 2,172,877 2,292, % 2,477, % 185, % Other Objects 216, , % 1,037, % 63, % Other Uses of Funds 12,022,320 9,786, % 9,727, % (59,228) -0.6% Total $ 97,925,497 $ 100,998, % $ 105,765, % $ 4,766, % FY09 Proposed Preliminary Budget Fringe Benefits 17.5% Professional Services 1.9% Purchased Property Services 2.2% Salaries 54.1% Other Purchased Services 8.4% Supplies 3.4% Property 2.3% Other Objects 1.0% Other Uses of Funds 9.2%

5 SUMMARY OF REVENUES BUDGET/ BUDGET/ESTIMATED AND ACTUAL PERCENT PRELIMINARY INCREASE FUNCTION INCREASE/ OVER ACTUAL BUDGET ESTIMATE BUDGET (DECREASE) BUDGET 6000 LOCAL SOURCES 6111 Current Taxes-RE $62,228,521 $63,589,600 $63,972,709 $66,627,747 $3,038, % 6111 Current Year Interim RE 928, , , ,603 (3,022) -0.3% 6113 Utility Taxes 113, , , ,000 4, % 6114 Payment in Lieu of Taxes 245, , , ,000 49, % 6143 Act 511 Emergency Municipal Services Tax 328, , , ,000 (75,000) -21.4% 6151 Act 511 Earned Income Taxes 12,626,411 13,219,900 13,005,203 13,616, , % 6153 Act 511 RE Transfer Tax 1,729,974 2,000,000 2,155,383 2,000, % 6411 Delinquent RE Taxes 1,229,634 1,000,000 1,112,188 1,100, , % 6510 Investment Earnings 1,719,064 1,500,000 1,253,445 1,300,000 (200,000) -13.3% 6831 Revenue from IU 602, , , ,000 (1,200) -0.2% 6910 Rental Income 30,873 20,000 22,569 22,000 2, % 6920 Cont/Donations-Private 19,001-15,000 15,000 15, % 6941 Tuition Income 13,439 25,000 13,775 25, % 6943 Adult Education Tuition 214, , , ,000 8, % 6944 Other Intergovernmental Revenue 103,136 75, , ,000 25, % 6990 Misc. Revenue 25,133 50,000 25,761 50, % TOTAL LOCAL REVENUE 82,168,650 83,906,525 84,123,882 87,265,849 3,359, % 7000 STATE SOURCES 7110 Basic Education Subsidy 5,995,074 6,124,200 6,124,162 6,216,000 91, % 7140 Charter Schools 645, , , ,000 31, % 7160 Tuition-1305/ , ,000 93,222 93,000 (7,000) -7.0% 7210 Homebound Instruction % 7220 Vocational Education Subsidy 87,810 99,800 98,304 99, % 7230 Alternative Education 16,901-24, % 7240 Driver Education - Student 14,560 15,000 19,390 15, % 7271 Special Education Subsidy 3,164,118 3,172,300 3,172,306 3,235,700 63, % 7310 Transportation Subsidy 1,143,454 1,180,800 1,220,474 1,204,400 23, % 7320 Authority Rental Reim. 340, , , ,000 (10,600) -3.0% 7330 Health Services Subsidy 149, , , ,000 (1,000) -0.7% 7340 State Property Tax Reduction ,424,253 1,424, % 7360 Safe Schools % 7500 Extra Grants 16,112 35, ,000 - (35,000) % 7501 PA Accountability Grants 337, , , ,200 (12,700) -3.5% 7810 Revenue for Soc. Sec. Payments 1,938,946 2,071,700 1,987,420 2,175, , % 7820 Revenue for Retire. Payments 1,692,368 1,927,200 1,931,400 1,366,500 (560,700) -29.1% TOTAL STATE REVENUE 15,633,306 16,302,100 16,930,166 17,413,653 1,111, % 8000 FEDERAL SOURCES 8512 IDEA Program % 8514 NCLB Title I -Education of Disadvantaged Children 580, , , ,000 8, % 8515 NCLB, Title II 213, , , , % 8516 NCLB, Title III - ESL 36,302-26, % 8517 NCLB, Title IV - Drug Free 27,543-15, % 8518 NCLB, Title V - Innovative Program 8,104-6, % 8521 Vocational Education - Operating Expenditures 60,119-80, % 8620 Adult Basic Education 221, , % 8680 Goals 2000, Title III , % 8690 Other Restricted Fed Grants-in-Aid 56, , % 8810 Medical Assistance Reimbursement (ACCESS) 110, ,000 9, , % 8820 Administrative Costs (ACCESS ) 22, % TOTAL FEDERAL REVENUE 1,336, ,000 1,315,927 1,086, , % 9400 Sale of Fixed Assets TOTAL ALL REVENUES 99,138, ,998, ,369, ,765,503 4,766, % 110,000 Local 15,788 Revenue Summary 80.0% 70.0% 60.0% 50.0% Budget/Actual 40.0% 30.0% 20.0% 10.0% 0.0% 65.3% 68.4% 64.9% 65.3% 12.7% 13.5% 12.7% 12.9% 2.1% 1.7% 0.4% 2.3% 1.3% 0.4% 2.4% 1.2% 0.4% 2.2% 1.2% 0.4% ACTUAL BUDGET ESTIMATE BUDGET Property Taxes Earned Income Tax Other Act 511 Investment Income Other Local

SCHEDULE OF CASH AND INVESTMENTS (CAIN) Page F General Fund Budget (PDE-2028) Printed 3/27/2007 8:58:28 AM

Printed 3/27/2007 8:58:28 AM SCHEDULE OF CASH AND INVESTMENTS (CAIN) Page F-1 06/30/2005 Estimate 06/30/2006 Projection CASH AND SHORT-TERM INVESTMENTS General Fund 2,800,000 1,700,000 Special Revenue