Harford County Public Schools

Transcription

1 Harford County Public Schools 102 S. Hickory Avenue Bel Air, MD Fax Robert M. Tomback, Ph.D., Superintendent of Schools Memorandum To: Superintendent Board of Education Audit Committee James M. Jewell, CPA Assistant Superintendent for Business Services Direct Dial Fax From: CC: James M. Jewell Jay Staab Jennifer Birkelien Edward Fields Date: May 1, 2012 Subject: Financial Report for the Period Ending March 31, 2012 Contents Transmittal Memo Page 1 Unrestricted Fund Executive Summary (Unaudited) Page A-1 Statement of Revenues, Expenditures and Changes in Fund Balance with Supporting Schedules A, B, C, and D (Unaudited) Page B-1 Statement of Program Budget Page C-1 Statement of Budget Manager Expenditures Budget and Actual Page D-1 Statement of School Allocation Expenditures Budget and Actual Page E-1 Statement of Revenues, Expenditures, and Changes in Fund Balance - Food Services Fund (Unaudited) Page F-1 Capital Projects Balances (Unaudited) Page G-1 Introduction Attached is the financial report for the Unrestricted Fund (Executive Summary, Schedules A, B, C, and D) for the period ending March 31, The report presents the Statement of Revenues, Expenditures and Changes in Fund Balance for the period ending March 31, 2012 and is not audited. The Executive Summary adds a column, "% to Total Actual," in order to show the relative value of each revenue or expenditure line to the actual year-to-date revenues or expenditures. Also included for the same period are the Statement of School Allocation Expenditures Budget and Actual, the Statement of Revenues, Expenditures, and Changes in Fund Balance for Food Services, and a list of Capital Projects balances as of March 31, These statements are prepared on the budgetary basis. Budgetary basis statements include open purchase orders charged against the appropriation amounts for that year as legal obligations. Other expenditures made on behalf of the Board,

2 Financial Report Period Ending March 31, 2012 May 1, 2012 Page 2 of 7 including the contribution to the State Teachers Pension Fund for example, are excluded. Under generally accepted accounting principles (GAAP), encumbrances are excluded and on-behalf payments are included; therefore these statements are non-gaap. The column "% Actual Year-to-Date to Budget" may be used as a barometer in your review of these statements. As this report comprises activity for the first nine months, the range of budgeted amounts received or expended should be about 75%. Methods of Projection Several expenditure projection methods are employed in this process. Generally, revenues are simply extrapolated to year-end. Wages are projected based on the most current payroll actual amount paid divided by that number of pays and extrapolated out to the remaining number of pay periods. To the extent that unique circumstances may apply to a specific wage line item, those circumstances are factored into the projection. As an example, coaches pay occurs just three times a year. Given that the Instructional Salaries category, which is all wages, represents almost 40% of the budget, it is clear that significant emphasis is directed toward salary projections. For those line items where control can be exercised over the total annual spending, the projection method used is to annualize the amount expended to date through the end of the year but to cap the expenditures at the budget amount. In many cases, the annualized amount will be less than budget, in which case, the variance is recognized. This method is used for all objects of expenditure (except wages) in the categories Administration, Mid-level Administration, Textbooks, Other Instructional Costs, Student Personnel Services, Student Health Services, and Capital Outlay. Some accounts, such as utilities and fuel, cannot be managed to budget in the same way because of the volatility of the market. In these cases, we annualize the amount expended to date but do not cap the upper limit to the budgeted amount. In these cases, the variances are recognized in the projection even if negative. This method is used for all objects of expenditure (except wages) in the categories of Student Transportation, Operation of Plant, Maintenance of Plant, Fixed Charges (except those identified as a percentage of wages), and Community Services. To the extent possible, certain key high value accounts are analyzed by the budget office and compared with prior year trends after which a projection is made. This method is used for the Fixed Charges and Special Education category accounts in particular. The closer we get to year-end, the more accurate the projections will be. It is important, however, to note that the projections are never 100% accurate but are calculated in order to alert the Board, Superintendent and staff to potential fiscal problems. Analysis Revenues Unrestricted Fund Overall, total revenue is within expectation at 81.7% of the amount projected for the year. Included within the revenue received from the County is almost $1.4 million for the one-time bonus paid to HCPS non-hcea employees, which was authorized and funded by the County, but not budgeted as of March 31. Interest revenue continues to fall well short of expectations as excess cash is generally obtaining extraordinary low interest rates. Other revenue is substantially over budget. Included in Other revenue are tuition, facility rental, e-rate rebates, Medicare Part D subsidies, insurance dividends, and settlement payments from health and dental insurance carriers. A significant portion of Other revenue is a payment to HCPS for Medicare Part D subsidies in the amount of $1,000,008. Medicare Part D subsidies and insurance settlements are one-time revenues that are not budgeted due to uncertainty of receipt each year.

3 Financial Report Period Ending March 31, 2012 May 1, 2012 Page 3 of 7 Also included within Other revenue are funds received from other Maryland school districts as reimbursement for out-ofcounty students attending a HCPS school. To date, only 7.71% of budgeted revenue is received, which is expected at this time in the fiscal year. Invoicing and reimbursement from other districts will occur during May July. 175% 150% 125% 100% 75% 50% 25% 0% Harford County Public Schools Comparative Revenue - Unrestricted Fund Balances as of March 31 Local State Federal Other Interest Prior Years' Fund Balance FY12 FY11 FY10 FY09 FY08 Expenditures Expenditures in all categories are within expectations and total 72.63% of the appropriation. The most volatile of the accounts, special education, utilities, and fuel, will continue to be monitored. 100% Harford County Public Schools Comparative Expenditures- Unrestricted Fund Balances as of March 31 75% 50% 25% 0% FY12 FY11 FY10 FY09 FY08

4 Financial Report Period Ending March 31, 2012 May 1, 2012 Page 4 of 7 Health Insurance Loss Ratio The loss ratio from CareFirst is a measure of claims against premiums paid for our self-insured health benefits program. The loss ratio does not measure the self-insured HMO program s performance. Loss ratio is a good indicator of whether the estimated premium will be adequate to cover costs or if additional premium payments, a call, will be necessary. Generally, a target loss ratio of 85% allows enough margin to cover additional administrative expenses and avoid a call. Keep in mind that the plan year is coincident with the fiscal year, which is when premium payments change. That change is based upon projections for future health costs and is somewhat predicated on the claims experience from the preceding calendar year. The chart below tracks the loss ratio for three periods of time, the quarter, the calendar year (CY), and the fiscal year (FY). Fiscal year claims experience for the first quarter of this was 96.94%, 81.46% during the second quarter and 96.72% during the third quarter; the resulting nine-month average is 91.65%, which is above the 85% target, but consistent with third-quarter loss ratios during prior years. The loss ratio at March 2012 is a slight understatement of the overall ratio because it does not reflect the addition of CareFirst administrative charge for claims adjudication and health management. In order to protect HCPS from unusually high claims within a plan year, HCPS purchases stoploss insurance on individual claims that exceed $300,000 during the plan year and aggregate claims in excess of 125% of estimates % Harford County Public Schools Heath Care Loss Ratio As of March 31, % 95.00% 90.00% 85.00% 80.00% 75.00% Quarter Loss Ratio CY Loss Ratio FY Loss Ratio Target Fund Balance The fund balance is presented in the Projected to Year-End column providing a projection for the year-end. Typically, at the start of the school year spending is relatively low (19% of budget during the first quarter of this fiscal year and 47.4% for the second quarter), but the rate of spending increases with classes in session. HCPS has expended just over 72% of the budget in the first three quarters of the year, which is consistent with past years spending levels; historically, by year-end about 99.5% will be spent. An amount of $5,000,000 is assigned by the Superintendent in the proposed FY2013 budget and is included in the fund balance calculation.

5 5B Financial Report Period Ending March 31, 2012 May 1, 2012 Page 5 of 7 Statement of Budget Manager Expenditures This report provides the program view of expenditures, which is consistent with the budgeting system used by HCPS, and is different from the categorical view required by the State. Cases of high levels of expenditures, by percentage of budget, are the result of payments for annual contracts made early in the fiscal year. Within the report, there is a negative number shown for the Supervisor of Business & Technology Education that represents a credit to the Unrestricted Fund account. The credit is a result of expenditures for equipment that were incurred and charged to the Unrestricted Fund during FY 2011 but were subsequently transferred to a grant account during FY The Statement of School Allocation Expenditures This report lists each school or central office account receiving allocations. To provide historical context, percentage spent comparisons are shown for the same period for the prior years. When reviewing the comparisons, it is important to consider that school leadership may have changed over time. As mentioned in the past, principals have different philosophies about expending allocated funds. Some hold funds until near the end of the year; others spend earlier in the year. Neither is wrong, our goal is to assure that the funds are spent without being overspent by year-end. This report is provided to the Executive Directors of Elementary, Middle, and High School Performance on a regular basis and is used as part of the evaluation process for building administrators. As a total of the amount allocated, spending is slightly lower than in past years. This may be a product of budget reductions made in prior years. Building administrators are responsible for spending as close to all of the school allocation as possible without overspending. Food Services Fund The Food Services Fund is a self-supporting special revenue fund that does not receive any Unrestricted Fund support for its daily operations. However, during the third quarter, $189,811 was received from the County for the one-time bonus paid to all HCPS Food Services employees, which was authorized and funded by the County. This amount is listed on the attached Food Services Fund Statement of Revenues, Expenditures and Changes in Fund Balance as County Non Recurring revenue. Overall, revenues as a percent of budget are consistent with prior years. 160% Harford County Public Schools Food Services Fund Revenues As of March % 120% 100% 80% 60% 40% 20% 0% Cafeteria Sales Federal Aid State Aid Interest Earned FY12 FY11 FY10 FY09 FY08

6 Financial Report Period Ending March 31, 2012 May 1, 2012 Page 6 of 7 Overall, Food Services expenditures during the first nine months of the fiscal year were at 78.7% of budget. Expenditures for Contracted Services for FY 2012 were 77.22% of budget for the first nine months, which is lower than in prior years. In prior years, the budgeted amount was too low and a correction was made in the FY 2012 budget. Contracted Services consists of the administrative fees for the parents pre-paid food account for student meals. During the first nine months of the fiscal year, Furniture and Equipment expenditures were % of budget. The majority of furniture and equipment expenditures are for anticipated replacement items purchased during the summer months while classes are not in session. Additionally, when equipment unexpectedly breaks it must be replaced as quickly as possible % Harford County Public Schools Food Services Fund Expenditures As of March % % % % 80.00% 60.00% 40.00% 20.00% 0.00% Salaries and Wages Contracted Services Supplies and Materials Other Charges FY12 FY11 FY10 FY09 FY08 Furniture and Equipment

7 Financial Report Period Ending March 31, 2012 May 1, 2012 Page 7 of 7 Capital Projects Fund Capital Projects Balances as of March 31, 2012 are reported for all open projects. These are listed alphabetically by project name % Harford County Public Schools Capital Projects Fund Balances as of March 31, % 1.8% 75.0% 50.0% 91.9% 25.0% 0.0% Spent Encumbered Balance Unspent JMJ:MJP Attachments

8 Executive Summary CURRENT EXPENSE FUND - UNRESTRICTED, BUDGETARY BASIS (NON-GAAP) STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE - BUDGET AND ACTUAL FOR THE PERIOD ENDED MARCH 31, 2012 (unaudited) Budget Year-to-Date Balance % Year-to- Date to Budget % to Total Projected to Year End Projected Surplus (Deficit) Revenues Local 214,291, ,150,717 47,140, % 47.71% 215,682,344 1,390,717 State 201,731, ,404,077 33,327, % 48.07% 201,731,181 - Federal 650, , , % 0.12% 650,000 - Other 3,524,966 5,810,386 (2,285,420) % 1.66% 4,574,255 1,049,289 Interest 40,000 16,385 23, % 0.00% 20,154 (19,846) Prior Years' Fund Balance 8,553,443 8,553, % 2.44% 8,553,443 - Total Revenues 428,791, ,342,210 78,449, % % 431,211,376 2,420,159 Expenditures Administration 11,339,841 8,355,229 2,984, % 2.68% 10,874, ,418 Mid-Level Administration 25,560,814 18,963,602 6,597, % 6.09% 25,054, ,569 Instructional Salaries 164,129, ,119,948 47,009, % 37.61% 163,674, ,783 Textbooks 7,959,288 5,694,061 2,265, % 1.83% 7,720, ,779 Other Instructional Costs 3,089,001 1,690,964 1,398, % 0.54% 2,916, ,338 Special Education 40,674,641 29,408,397 11,266, % 9.44% 40,067, ,723 Student Personnel Services 1,625,336 1,246, , % 0.40% 1,625, Student Health Services 3,348,164 2,397, , % 0.77% 3,309,040 39,124 Student Transportation 30,929,541 23,010,481 7,919, % 7.39% 30,401, ,755 Operation of Plant 29,454,477 21,380,161 8,074, % 6.86% 29,262, ,768 Maintenance of Plant 12,595,972 9,362,060 3,233, % 3.01% 12,341, ,095 Fixed Charges 97,187,307 72,217,904 24,969, % 23.19% 93,753,413 3,433,894 Community Services 520, , , % 0.09% 434,548 85,925 Capital Outlay 377, ,415 49, % 0.11% 371,435 5,800 Total Expenditures 428,791, ,445, ,345, % % 421,807,975 6,983,242 Excess (Deficit) of Revenues Over Expenditures 9,403,401 Transfer to Health Rate Stabilization Fund (350,000) Excess of Revenues over Expenditures and Operating Transfer 9,053,401 Total Fund Balance at July 1, ,789,638 Assigned Fund Balance for FY 2012 (8,553,443) Projected Fund Balance March 31, ,289,596 Assigned Fund Balance at March 31, 2012 Assigned for Health Call 1,225,166 Assigned for Energy and Fuel 915,000 Assigned for OPEB Liability 2,881,878 Assigned for FY ,000,000 Projected Unassigned Fund Balance 7,267,552 5/1/2012 Prepared by Division of Business Services Page A-1

9 CURRENT EXPENSE FUND - UNRESTRICTED, BUDGETARY BASIS (NON-GAAP) STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE - BUDGET AND ACTUAL FOR THE PERIOD ENDED MARCH 31, 2012 (unaudited) YEAR END ACTUAL % ACTUAL PROJECTED PROJECTED AMENDED YEAR YEAR-TO-DATE TO SURPLUS BUDGET TO-DATE BALANCE TO BUDGET YEAR-END (DEFICIT) Schedule A REVENUE COUNTY County (Includes Capital Outlay) 214,291, ,760,000 48,531, % 214,291,627 - County (Non-recurring) - 1,390,717 (1,390,717) na 1,390,717 1,390,717 TOTAL COUNTY 214,291, ,150,717 47,140, % 215,682,344 1,390,717 STATE Basic Aid 175,211, ,004,143 29,206, % 175,211,073 - Transportation 11,858,771 9,882,309 1,976, % 11,858,771 - Special Education 12,645,402 11,122,025 1,523, % 12,645,402 - Limited English Prof. 1,674,720 1,395, , % 1,674,720 - Other 341, , % 341,215 - TOTAL STATE 201,731, ,404,077 33,327, % 201,731,181 - FEDERAL Impact Aid 650, , , % 650,000 - OTHER Tuition, Fees, etc. Tuition 280, ,662 75, % 280,000 - Out of County LEAs 450,000 34, , % 300,000 (150,000) Transportation Fees 180, ,710 71, % 135,888 (44,113) Rental of Facilities 412, , , % 318,798 (93,202) Total Tuition, Fees, etc. 1,322, , , % 1,034,686 (287,314) Interscholastic Receipts 353, ,101 60, % 353,000 - Donations. Gifts, Awards 20,458 4,738 15, % 10,000 (10,458) e Rate Rebate 600, , , % 484,875 (115,125) Sale of Equipment/Scrap 30,000 24,224 5, % 30,000 - Criminal Background 50,000 29,760 20, % 32,736 (17,264) Settlements Health & Dental - 612,299 (612,299) na 612, ,299 Other Miscellaneous 1,149,508 1,991,589 (842,081) % 2,051, ,829 Medciare Part D Subsidy - 1,000,008 (1,000,008) na 1,000,008 1,000,008 ERRP Subsidy - 891,978 (891,978) na 891, ,978 TOTAL OTHER 3,524,966 5,810,386 (2,285,420) % 4,574,255 1,049,289 Interest 40,000 16,385 23, % 20,154 (19,846) Prior Years' Fund Balance 8,553,443 8,553, % 8,553,443 - TOTAL REVENUE 428,791, ,342,210 78,449, % 431,211,376 2,420,159 EXPENDITURES Administration 11,339,841 8,355,229 2,984, % 10,874, ,418 Mid-Level Administration 25,560,814 18,963,602 6,597, % 25,054, ,569 Instructional Salaries 164,129, ,119,948 47,009, % 163,674, ,783 Textbooks 7,959,288 5,694,061 2,265, % 7,720, ,779 Other Instructional Costs 3,089,001 1,690,964 1,398, % 2,916, ,338 Special Education 40,674,641 29,408,397 11,266, % 40,067, ,723 Student Personnel Services 1,625,336 1,246, , % 1,625, Student Health Services 3,348,164 2,397, , % 3,309,040 39,124 Student Transportation 30,929,541 23,010,481 7,919, % 30,401, ,755 Operation of Plant 29,454,477 21,380,161 8,074, % 29,262, ,768 Maintenance of Plant 12,595,972 9,362,060 3,233, % 12,341, ,095 Fixed Charges 97,187,307 72,217,904 24,969, % 93,753,413 3,433,894 Community Services 520, , , % 434,548 85,925 Capital Outlay 377, ,415 49, % 371,435 5,800 Total 428,791, ,445, ,345, % 421,807,975 6,983,242 Excess (Deficit) of Revenues Over Expenditures 9,403,401 Transfer to Health Rate Stabilization Fund (350,000) Excess of Revenues over Expenditures and Operating Transfer 9,053,401 Total Fund Balance at July 1, ,789,638 Assigned Fund Balance for FY 2012 (8,553,443) Projected Fund Balance March 31, ,289,596 Assigned Fund Balance at March 31, 2012 Assigned for Health Call 1,225,166 Assigned for Energy and Fuel 915,000 Assigned for OPEB Liability 2,881,878 Assigned for FY ,000,000 Projected Unassigned Fund Balance 7,267,552 5/1/2012 Prepared by the Division of Business Services Page B-1

10 CURRENT EXPENSE FUND - UNRESTRICTED, BUDGETARY BASIS (NON-GAAP) STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE - BUDGET AND ACTUAL FOR THE PERIOD ENDED MARCH 31, 2012 (unaudited) YEAR END ACTUAL % ACTUAL PROJECTED PROJECTED AMENDED YEAR YEAR-TO-DATE TO SURPLUS BUDGET TO-DATE BALANCE TO BUDGET YEAR-END (DEFICIT) Schedule B CATEGORY AND OBJECT SUMMARY SCHEDULE ADMINISTRATION: Salaries and Wages 8,879,738 6,619,320 2,260, % 8,641, ,453 Contracted Services 1,868,498 1,570, , % 1,719, ,480 Supplies and Materials 387, , , % 375,949 11,627 Other Charges 399, , , % 387,701 11,991 Equipment 269, , , % 215,470 53,867 Indirect Cost Recovery (465,000) (387,858) (77,142) 83.41% (465,000) - TOTAL 11,339,841 8,355,229 2,984, % 10,874, ,418 MID-LEVEL ADMINISTRATION: Salaries and Wages 24,698,432 18,540,736 6,157, % 24,276, ,182 Contracted Services 96,900 40,157 56, % 82,365 14,535 Supplies and Materials 514, , , % 463,011 51,446 Other Charges 167,320 98,588 68, % 150,588 16,732 Equipment 83,705 45,505 38, % 82,031 1,674 TOTAL 25,560,814 18,963,602 6,597, % 25,054, ,569 INSTRUCTIONAL SALARIES Salaries and Wages 164,129, ,119,948 47,009, % 163,674, ,783 TEXTBOOKS Supplies and Materials 7,959,288 5,694,061 2,265, % 7,720, ,779 OTHER INSTRUCTIONAL COSTS Contracted Services 1,465,714 1,029, , % 1,407,085 58,629 Supplies and Materials Other Charges 403, , , % 387,679 16,153 Equipment 1,219, , , % 1,121,899 97,556 TOTAL 3,089,001 1,690,964 1,398, % 2,916, ,338 SPECIAL EDUCATION: Salaries and Wages 31,719,617 23,003,368 8,716, % 31,451, ,717 Contracted Services 8,367,303 6,097,448 2,269, % 8,047, ,432 Supplies and Materials 355, , , % 351,805 3,554 Other Charges 144, ,736 35, % 141,978 2,898 Equipment 87,486 48,516 38, % 74,363 13,123 TOTAL 40,674,641 29,408,397 11,266, % 40,067, ,723 STUDENT PERSONNEL SERVICES: Salaries and Wages 1,567,993 1,213, , % 1,571,461 (3,468) Contracted Services 32,650 16,309 16, % 31,018 1,633 Supplies and Materials 13,425 10,826 2, % 12, Other Charges 6,310 2,612 3, % 6, Equipment 4,958 2,882 2, % 3,719 1,240 - TOTAL 1,625,336 1,246, , % 1,625, STUDENT HEALTH SERVICES: Salaries and Wages 3,135,321 2,269, , % 3,133,128 2,193 Contracted Services 14,613-14, % 4,092 10,521 Supplies and Materials 157, ,654 36, % 149,533 7,870 Other Charges 10,413 3,175 7, % 7,081 3,332 Equipment 30,414 3,676 26, % 15,207 15,207 TOTAL 3,348,164 2,397, , % 3,309,040 39,124 STUDENT TRANSPORTATION: Salaries and Wages 6,037,084 4,646,515 1,390, % 6,027,278 9,806 Contracted Services 23,637,442 17,341,661 6,295, % 23,137, ,000 Supplies and Materials 1,124, , , % 1,109,635 14,615 Other Charges 123,265 19, , % 120,307 2,958 Equipment 7,500 3,717 3, % 7, TOTAL 30,929,541 23,010,481 7,919, % 30,401, ,755 5/1/2012 Prepared by the Division of Business Services Page B-2

11 CURRENT EXPENSE FUND - UNRESTRICTED, BUDGETARY BASIS (NON-GAAP) STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE - BUDGET AND ACTUAL FOR THE PERIOD ENDED MARCH 31, 2012 (unaudited) YEAR END ACTUAL % ACTUAL PROJECTED PROJECTED AMENDED YEAR YEAR-TO-DATE TO SURPLUS BUDGET TO-DATE BALANCE TO BUDGET YEAR-END (DEFICIT) OPERATION OF PLANT: Salaries and Wages 10,998,281 8,501,663 2,496, % 11,018,313 (20,032) Contracted Services 2,398,991 1,794, , % 2,351,011 47,980 Supplies and Materials 1,037, , , % 1,012,742 24,904 Other Charges 14,645,528 10,161,764 4,483, % 14,513, ,810 Equipment 374, , , % 366,924 7,107 TOTAL 29,454,477 21,380,161 8,074, % 29,262, ,768 MAINTENANCE OF PLANT Salaries and Wages 6,781,552 5,122,353 1,659, % 6,727,518 54,034 Contracted Services 3,477,128 2,732, , % 3,390,200 86,928 Supplies and Materials 2,046,012 1,364, , % 1,964,172 81,840 Other Charges 64,571 22,700 41, % 56,177 8,394 Equipment 226, , , % 203,811 22,898 TOTAL 12,595,972 9,362,060 3,233, % 12,341, ,095 FIXED CHARGES 97,187,307 72,217,904 24,969, % 93,753,413 3,433,894 COMMUNITY SERVICES Salaries and Wages 380, , , % 298,748 81,725 Supplies and Materials 140, ,876 32, % 135,800 4,200 Other Charges TOTAL 520, , , % 434,548 85,925 TOTAL REGULAR PROGRAMS 428,413, ,117, ,296, % 421,436,540 6,977,442 CAPITAL OUTLAY Salaries and Wages ,000 (41,000) Contracted Services 50,000-50, % - 50,000 Supplies and Materials - - 2,800 (2,800) Other Charges 327, , % 327,235 - Equipment (180) na 400 (400) TOTAL 377, ,415 49, % 371,435 5,800 TOTAL EXPENDITURES 428,791, ,445, ,345, % 421,807,975 6,983,242 5/1/2012 Prepared by the Division of Business Services Page B-3

12 CURRENT EXPENSE FUND - UNRESTRICTED, BUDGETARY BASIS (NON-GAAP) STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE - BUDGET AND ACTUAL FOR THE PERIOD ENDED MARCH 31, 2012 (unaudited) YEAR END ACTUAL % ACTUAL PROJECTED PROJECTED AMENDED YEAR YEAR-TO-DATE TO SURPLUS BUDGET TO-DATE BALANCE TO BUDGET YEAR-END (DEFICIT) Schedule C OBJECT SUMMARY SCHEDULE Salaries and Wages 258,327, ,201,022 71,126, % 256,861,225 1,466,393 Contracted Services 41,409,239 30,621,260 10,787, % 40,170,102 1,239,137 Supplies and Materials 13,735,416 9,694,145 4,041, % 13,298, ,840 Other Charges 113,480,349 83,400,682 30,079, % 109,852,124 3,628,225 Equipment 2,303, ,100 1,387, % 2,090, ,646 Indirect Cost Recovery (465,000) (387,858) (77,142) 83.41% (465,000) - Total 428,791, ,445, ,345, % 421,807,975 6,983,242 SPECIAL EDUCATION Non-public Placements 7,935,803 5,712,278 2,223, % 7,616, ,432 FIXED CHARGES SCHEDULE Liability Insurance 531, ,199 31, % 500,198 31,756 Retirement 3,403,600 3,180, , % 3,374,064 29,536 Social Security 19,285,851 13,795,693 5,490, % 18,871, ,373 Unemployment Comp Ins. 309, , , % 292,945 16,055 Workers' Comp Ins. 1,683,803 1,568, , % 1,579, ,740 Health Ins. 65,495,460 48,789,159 16,706, % 63,455,133 2,040,327 Dental Ins. 3,799,268 2,436,380 1,362, % 3,447, ,564 Life Ins. 601, , , % 572,213 29,447 Tuition Reimbursement 1,580, , , % 1,164, ,095 Debt Service - Interest 496, , % 496,587 1 Total 97,187,307 72,217,904 24,969, % 93,753,413 3,433,894 YEAR END ACTUAL % ACTUAL PROJECTED PROJECTED AMENDED YEAR YEAR-TO-DATE TO SURPLUS BUDGET TO-DATE BALANCE TO BUDGET YEAR-END (DEFICIT) Schedule D BOARD OF EDUCATION Salaries and Wages 38,500 30,047 8, % 38,500 - Audit 55,030 48,850 6, % 55,030 - Legal 20,000 29,896 (9,896) % 59,896 (39,896) Consultants 12,800-12, % - 12,800 Office Supplies 1, % 1,000 - Postage/Courier 4,200-4, % - 4,200 Publications % Other Charges 8,000 3,069 4, % 4,080 3,920 Board Members Allowance 34,400 23,487 10, % 34,400 - Mileage, Parking & Tolls - 1,251 (1,251) 0.00% 1,501 (1,501) Professional Dues 18,500 27,252 (8,752) % 27,252 (8,752) Institutes, Conferences, Mtgs. 40,000 17,883 22, % 22,354 17,646 Office Furniture/Equipment % - - Total Board of Education 233, ,391 50, % 244,463 (11,133) 5/1/2012 Prepared by the Division of Business Services Page B-4

13 UNRESTRICTED FUND, BUDGETARY BASIS (NON-GAAP) STATEMENT OF PROGRAM BUDGET FOR THE PERIOD ENDED MARCH 31, 2012 (unaudited) FY 2012 Amended Budget Actual Year-to-Date % Spent Board of Education 233, , % Legal 207, , % Internal Audit 154, , % Board of Education 595, , % Executive Administration Office 1,248, , % Community Engagement 209, , % Communications 488, , % Executive Administration Office 1,946,030 1,394, % Office of Education Services 1,627,413 1,030, % Regular Programs 156,190, ,923, % Career and Technology Programs 8,765,209 6,186, % School Library Media Program 6,850,227 5,151, % Gifted and Talented Program 1,618,508 1,041, % Intervention Services 1,932,888 1,305, % Magnet and Signature Programs 1,932,122 1,046, % Summer School 772, , % Other Special Programs 2,814,052 1,952, % Education Services 182,503, ,295, % Special Education 40,598,873 29,351, % Student Activities 857, , % Interscholastics Athletics 2,762,482 1,863, % Extra-Curricular Activities 3,620,397 2,095, % Safety and Security 1,104, , % School Counseling Services 7,119,920 5,208, % Psychological Services 2,375,813 1,692, % Pupil Personnel Services 1,742,129 1,330, % Health Services 3,348,164 2,397, % Student Services 14,586,026 10,629, % Curriculum Dev. and Implementation 3,436,825 2,352, % Professional Development 588, , % Office of Accountability 779, , % Curriculum and Instruction 4,805,422 3,096, % Transportation 31,160,170 23,151, % Facilities Management 21,346,164 16,043, % Utility Resource Management 14,272,888 10,271, % Planning and Construction 861, , % Operations and Maintenance 67,640,257 50,064, % Fiscal Services 26,916,166 20,628, % Purchasing 1,012, , % Business Services 27,928,480 21,399, % Human Resources 74,038,776 54,384, % Office of Technology and Info. 9,423,625 6,674, % Unrestricted Fund $ 428,791,217 $ 311,445, % 5/1/2012 Prepared by the Division of Business Services Page C-1

14 CURRENT EXPENSE FUND - UNRESTRICTED, BUDGETARY BASIS (NON-GAAP) STATEMENT OF BUDGET MANAGER EXPENDITURES - BUDGET AND ACTUAL FOR THE PERIOD ENDED MARCH 31, 2012 (unaudited) Current Year Prior Years Budget Manager Title Budget Actual Balance % Spent FY11 FY10 FY09 FY08 Applications Development Team Leader 605, ,693 28, % 86.39% 96.30% % 89.10% Associate Superintendent of Curriculum & Instruction 3,650,215 2,406,523 1,243, % 66.91% 65.42% 73.60% 69.98% Assistant Superintendent of Human Resources 75,863,620 54,873,602 20,990, % 68.87% 73.29% 75.68% 62.74% Assistant Superintendent of Operations 661, , , % 62.44% 59.99% 70.98% 71.85% Assistant Superintendent of Business Services 24,615,409 18,560,004 6,055, % 75.60% 74.53% 74.16% 72.72% Assistant Supervisor of Client Server 505, , , % 21.51% 23.64% 40.80% 49.06% Assistant Supervisor of Energy & ABS 13,896,323 9,919,607 3,976, % 65.14% 64.04% 67.37% 69.17% Assistant Supervisor of Science 367, , , % 73.34% 63.85% 61.13% 68.74% Assistant Supervisor of User Support 669, ,567 85, % 79.28% 85.65% % 97.02% Chief of Administration 1,481,594 1,115, , % 70.88% 76.92% 77.64% 66.22% Coordinator of Accelerated Learning 1,630,458 1,052, , % 63.73% 64.67% 64.82% 66.11% Coordinator of Intervention 2,404,464 1,703, , % 67.26% 54.97% 57.80% 57.66% Coordinator of Magnet Programs 1,073, , , % 46.95% 42.82% 57.43% 60.91% Coordinator of Professional Development 588, , , % 58.16% 51.37% 55.00% 45.14% Coordinator of Safety & Security 984, , , % 67.17% 60.53% 68.57% 82.75% Director of Community Engagement 336, , , % 64.60% 51.55% 63.73% 62.38% Director of Facilities Management 20,543,891 15,547,896 4,995, % 71.79% 75.37% 73.10% 73.56% Director of Information Systems & Technology 7,368,913 5,131,726 2,237, % 67.13% 70.91% 75.63% 77.29% Director of Planning & Construction 861, , , % 70.06% 56.19% 68.37% 68.36% Director of Special Education 40,598,873 29,351,359 11,247, % 71.17% 74.52% 71.74% 76.24% Director of Student Services 1,594,600 1,235, , % 74.79% 74.30% 74.40% 70.84% Director of Transportation 30,813,942 22,907,081 7,906, % 73.52% 71.23% 72.34% 74.23% Executive Directors Elementary/Secondary Education 166,508, ,787,998 45,720, % 72.71% 72.40% 72.52% 76.43% General Counsel 207, ,655 52, % 74.03% 73.16% 74.16% 72.22% Internal Auditor 154, ,930 31, % 70.28% 77.56% 82.11% 71.35% Manager of Communications 547, , , % 56.92% 52.17% 62.10% 73.46% Nurse Coordinator 3,348,164 2,397, , % 68.75% 70.25% 70.10% 69.01% Risk Manager 2,676,080 2,443, , % 77.59% 86.60% 74.47% 78.79% Supervisor of Business & Technology Education 52,237 (14,642) 66, % 13.70% 17.95% 24.20% -1.69% Supervisor of Career & Art Programs 485, , , % 62.19% 50.97% 77.06% 55.90% Supervisor of Elementary & Middle School Physical Educ. 129,405 58,127 71, % 46.67% 44.64% 50.46% 45.53% Supervisor of Foreign Language and ESOL 503, , , % 71.56% 69.66% 71.63% 71.32% Supervisor of Library & Media Services 6,849,727 5,151,528 1,698, % 74.51% 73.43% 73.46% 74.03% Supervisor of Music 199, ,945 54, % 64.61% 64.14% 59.45% 64.32% Supervisor of Phys. Educ. & Interscholasitc Athletics 2,759,371 1,862, , % 67.27% 65.01% 65.82% 65.34% Supervisor of Psychological & Pupil Services 2,977,141 2,066, , % 64.56% 66.63% 67.25% 62.66% Supervisor of Purchasing 1,012, , , % 73.00% 75.84% 73.43% 59.05% Supervisor of School Counseling 7,119,920 5,208,451 1,911, % 72.60% 73.04% 72.29% 71.33% Supervisor of Science 1,091, , , % 66.10% 68.35% 62.42% 64.58% Supervisor of the Office of Accountability 779, , , % 73.13% 55.35% 58.29% 60.56% Technical Services Team Leader 273, ,282 45, % 72.33% 61.86% 39.12% 72.30% Total 428,791, ,445, ,345, % 71.37% 72.04% 72.54% 70.71% 5/1/2012 Prepared by Division of Business Services Page D-1

15 CURRENT EXPENSE FUND - UNRESTRICTED, BUDGETARY BASIS (NON-GAAP) STATEMENT OF SCHOOL ALLOCATION EXPENDITURES - BUDGET AND ACTUAL FOR THE PERIOD ENDED MARCH 31, 2012 (unaudited) Current Year Prior Years School Name Budget Actual Balance % Spent FY11 FY10 FY09 FY08 1 Central Office 523, , , % 38.69% 39.07% 83.52% 57.99% 5 Hickory Annex 29,200-29, % 73.39% 2.69% 0.00% 0.00% 6 Forest Hill Annex 3,032 1,019 2, % 16.29% 5.34% 26.33% 65.75% Total Central Funds 555, , , % 40.48% 37.31% 82.74% 57.39% 9 Harford Glen 44,065 18,880 25, % 44.14% 43.31% 54.62% 62.33% 91 John Archer 109,945 86,725 23, % 71.28% 79.69% 59.54% 62.90% 92 Alternative Education 88,026 49,746 38, % 60.51% 57.30% 79.53% 88.52% Total Special Schools 242, ,351 86, % 62.42% 65.04% 71.17% 69.97% 70 Aberdeen High 372, , , % 73.51% 74.12% 79.65% 89.78% 73 Bel Air High 421, , , % 57.19% 71.07% 71.65% 74.66% 85 C. Milton Wright High 389, , , % 70.36% 75.83% 71.54% 71.15% 76 Edgewood High 327, , , % 49.87% 46.57% 49.79% 64.24% 82 Fallston High 312, , , % 76.41% 79.60% 72.18% 80.92% 4 Harford Technical High 374, , , % 69.23% 62.22% 70.76% 55.14% 78 Havre de Grace High 212, ,108 41, % 72.55% 83.19% 77.84% 95.91% 81 Joppatowne High 249, ,103 54, % 68.05% 69.22% 64.40% 69.85% 80 North Harford High 377, ,497 30, % 75.82% 79.76% 67.98% 83.47% 87 Patterson Mill High 264, ,131 51, % % 95.00% 81.70% 88.20% Total High Schools 3,301,041 2,419, , % 70.25% 72.91% 70.51% 76.23% 65 Aberdeen Middle 220, ,845 33, % 73.47% 64.51% 53.11% 61.28% 72 Bel Air Middle 245, ,098 32, % 65.77% 60.55% 63.59% 74.06% 77 Edgewood Middle 221, ,138 30, % 84.61% 69.99% 45.84% 74.53% 86 Fallston Middle 179, ,435 42, % 86.85% 69.36% 56.67% 74.20% 79 Havre de Grace Middle 115,745 69,813 45, % 78.33% 85.12% 77.06% 82.91% 84 Magnolia Middle 143,619 93,826 49, % 60.46% 73.37% 67.88% 67.99% 83 North Harford Middle 201, ,718 33, % 78.27% 71.73% 64.89% 66.92% 88 Patterson Mill Middle 145, ,766 33, % 67.39% 92.25% 91.95% 65.93% 74 Southampton Middle 245, ,338 67, % 72.66% 51.58% 56.66% 68.56% Total Middle Schools 1,718,496 1,349, , % 74.24% 68.87% 61.23% 70.24% Total Secondary Schools 5,019,537 3,769,414 1,250, % 71.61% 71.51% 67.16% 74.05% 23 Abingdon Elementary 163, ,385 45, % 90.11% 87.27% 81.71% 78.49% 12 Bakersfield Elementary 72,820 56,642 16, % 82.39% 84.08% 54.49% 57.53% 14 Bel Air Elementary 90,844 71,539 19, % 66.56% 69.01% 54.42% 60.03% 25 Church Creek Elementary 131, ,455 26, % 85.49% 58.67% 83.25% 67.62% 16 Churchville Elementary 71,696 38,319 33, % 71.57% 69.15% 47.80% 51.65% 18 Darlington Elementary 32,034 15,471 16, % 63.06% 67.33% 74.42% 83.16% 20 Deerfield Elementary 149, ,887 40, % 65.80% 54.32% 69.58% 46.70% 22 Dublin Elementary 61,404 39,078 22, % 64.13% 74.96% 55.47% 64.11% 15 Edgewood Elementary 87,673 75,101 12, % 91.66% 76.94% 74.74% 83.33% 21 Emmorton Elementary 101,168 84,303 16, % 69.59% 93.63% 67.07% 65.33% 26 Forest Hill Elementary 104,060 64,723 39, % 64.90% 72.17% 58.04% 39.65% 28 Forest Lakes Elementary 97,515 72,543 24, % 68.58% 60.66% 71.97% 69.45% 27 Fountain Green Elementary 105,114 86,637 18, % 72.08% 67.55% 61.01% 71.60% 11 George D. Lisby Elementary 81,422 47,915 33, % 39.18% 69.97% 43.53% 65.24% 30 Halls Cross Roads Elementary 92,419 60,717 31, % 72.18% 88.06% 78.29% 37.45% 32 Havre de Grace Elementary 86,886 74,105 12, % 55.49% 76.56% 78.11% 90.37% 33 Hickory Elementary 124, ,665 17, % 46.73% 49.42% 64.18% 46.01% 35 Homestead-Wakefield Elementary 168, ,072 6, % 95.43% 77.33% 77.31% 61.77% 36 Jarrettsville Elementary 89,520 56,358 33, % 75.66% 78.21% 76.36% 85.24% 37 Joppatowne Elementary 122,437 64,950 57, % 69.53% 87.19% 49.98% 39.34% 31 Magnolia Elementary 77,561 63,997 13, % 97.99% 72.17% 71.79% 71.79% 38 Meadowvale Elementary 100,265 86,623 13, % 85.18% 75.27% 78.66% 71.97% 41 Norrisville Elementary 46,456 35,252 11, % 74.15% 76.01% 72.93% 80.81% 47 North Bend Elementary 73,909 60,834 13, % 85.02% 80.54% 64.62% 73.27% 44 North Harford Elementary 82,935 61,867 21, % 69.32% 72.11% 73.30% 78.80% 29 Prospect Mill Elementary 120,722 79,656 41, % 66.47% 72.06% 66.67% 78.42% 49 Red Pump Elementary 114,776 87,395 27, % NA NA NA NA 45 Ring Factory Elementary 101,267 78,288 22, % 90.08% 64.87% 82.89% 76.71% 43 Riverside Elementary 94,427 65,582 28, % % 89.53% 83.01% 72.47% 39 Roye Williams Elementary 86,752 41,931 44, % 82.23% 59.95% 73.15% 73.59% 40 William Paca Elementary 132, ,559 30, % 79.18% 81.01% 60.35% 82.68% 13 William S. James Elementary 96,899 57,420 39, % 70.17% 76.86% 65.05% 61.14% 48 Youths Benefit Elementary 183, ,518 42, % 72.59% 70.91% 69.70% 69.33% Total Elementary Schools 3,346,180 2,470, , % 75.45% 73.56% 68.65% 67.26% Total All Allocated Funds 9,163,385 6,567,695 2,595, % 70.97% 69.64% 69.69% 69.61% 5/1/2012 Prepared by Division of Business Services Page E-1

16 FOOD SERVICES FUND - (SPECIAL REVENUE FUND) BUDGETARY BASIS (NON-GAAP) STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE - BUDGET AND ACTUAL FOR THE PERIOD ENDED MARCH 31, 2012 (unaudited) Percent Amended Actual Actual to Budget Year-To-Date Balance Budget Revenues Cafeteria Sales 8,082,891 6,089,768 1,993, % Federal Aid Fresh Fruit & Vegetable - 33,930 (33,930) - School Lunch Program 923, , , % School Breakfast Program 1,198,172 1,132,010 66, % Section 11 Farms 3,463,843 2,991, , % Other Federal Revenue 95, ,800 (72,800) % USDA Commodities 875, ,701 53, % Total Federal Aid 6,555,319 5,569, , % State Aid Child Feeding Program 150, ,913 26, % Other State Revenue 142, ,281 3, % Total State Aid 292, ,194 29, % Interest Earned Miscellaneous Income - 148,747 (148,747) - County Non Recurring - 189,811 (189,811) - Prior Years Fund Balance Total Revenues 14,930,553 12,260,271 2,670, % Expenditures Salaries and Wages 5,301,615 3,887,734 1,413, % Contracted Services 346, ,178 78, % Supplies and Materials 7,130,210 5,850,720 1,279, % Other Charges 2,000,728 1,510, , % Furniture and Equipment 152, ,952 (81,952) % Total Expenditures 14,930,553 11,750,216 3,180, % Excess of Revenues over Expenditures or (Expenditures over Revenues) 510,055 Fund Balance at Beginning of Year 2,287,739 Fund Balance at End of Period 2,797,794 5/1/2012 Prepared by the Division of Business Services Page F-1

17 Open Capital Projects Balances as of March 31, 2012 Description Project # Budget Expenditures Encumbrances Total Balance % Remaining Aberdeen High ,737,945 5,656,193 5,720 5,661,913 76, % Aberdeen High North , , , , % ADA Improvements , ,060 17, , , % Alarms ,125, ,679 18, , , % Athletic Fields , ,103 3, ,503 28, % Backflow Prevention , , , , % Band Uniforms , , % Bel Air Elementary Chiller , ,998 1, ,613 13, % Bel Air Elementary Improvements , , ,655 9, % Bel Air High Modernization ,159,665 80,883,280 36,119 80,919, , % Bleachers , , , , % Board of Education Dais ,000 17,703-17,703 2, % Building Envelope Improvements , , , , % Buses ,544,994 8,391,677-8,391, , % Campus Hills Elementary School ,745,489 1,246, ,239 1,405, , % Data Center Air Conditioning , , ,063 15, % Deerfield Elem. Modernization ,553,803 31,916, ,944 32,204, , % Dublin Elementary Boiler , ,602 1, ,112 5, % Edgewood High Modernization ,606,790 82,339,914 1,072,733 83,412, , % Energy Conservation , ,322 6, , , % Environmental Compliance ,841,263 2,593,837 12,950 2,606, , % Floor Covering ,000 10,904 69,901 80,805 19, % Forest Hill Annex Electrcial , , , ,205 65, % Fountain Green Playground ,519 83,519-83,519 90, % Furniture ,655,000 1,523,983-1,523, , % Harford Technical HS Field Improv ,900,000 4,878,825-4,878,825 21, % Havre de Grace High , , ,048 25, % Havre de Grace High Field Impr ,000,000 11,468 88,052 99, , % Havre de Grace High HVAC ,339,397 2,649,460 2,664,887 5,314,347 25, % Homestead/Wakefield Modernization , , ,454 1, % HVAC Major Repairs ,821,226 3,659,986 1,027,206 4,687,192 4,134, % HVAC Major Repairs - CCES , , % HVAC Major Repairs - HDGES , , % Integrated Business System , ,000 28, ,577 (28,577) % Jarrettsville Elem HVAC ,700,000 89, , ,490 3,378, % John Archer Modernization ,030,000 83,045-83, , % Joppatowne Elem. Modernization ,991,943 21,722,034 8,498 21,730, , % Lockers , , , , % Maintenance Replacement Vehicles ,584,396 4,909, ,708 5,431, , % Math Refresh ,300,000 1,084,083-1,084, , % Milestone Project II , , ,506 31, % Music Refresh , , ,078 92, % Music Technology Labs , ,856 37, , % North Bend Roof , ,423 36, ,885 5, % North Harford High Modernization ,051,589 51,670,455-51,670, , % North Harford Middle HVAC ,129,725 10,117,389-10,117,389 12, % North Harford Middle Remedial ,000 32,200-32,200 17, % North Harford Sewer System , , ,462 13, % Outdoor Track Reconditioning , , ,099 9, % Patterson Mill Middle/High School ,897,094 62,654,704-62,654, , % Paving - Overlay & Maintenance ,156,370 2,081,726 16,356 2,098,082 58, % 5/1/2012 Prepared by Division of Business Services Page G-1

18 HARFORD Open COUNTY Capital PUBLIC Projects SCHOOLS Balances as of March 31, 2012 Description Project # Budget Expenditures Encumbrances Total Balance % Remaining Playground Equipment , , ,000 29, % Red Pump Road Elementary School ,570,154 30,259, ,341 30,544,271 2,025, % Relocatables ,884,637 10,308,351-10,308, , % Roofs ,173,314 9,873,052-9,873, , % Security Cameras ,585,000 1,397,653-1,397, , % Septic Pretreat Facility ,425,413 2,361,895 2,063,518 4,425, % Southampton Middle HVAC ,236,501 1,234,204-1,234,204 2, % Special Education Facilities ,000 1,300-1,300 98, % Swimming Pools , , , , % SWM, Erosion, Sediment , , ,770 42, % Technology Education Lab Refresh ,225, , , , % Technology Infrastructure ,176,180 19,834, ,580 19,935,548 2,240, % Technology Wiring ,373,254 7,757,584-7,757, , % Textbooks ,410,000 2,059,935-2,059,935 1,350, % Textbooks Social Science ,100,000 1,099,979-1,099, % Vocational Equipment Refresh , , ,154 58, % William Paca Elem. A/C ,800, , , ,835 5,432, % William S. James Playground ,921 98, , ,921 35, % Youth's Benefit Elementary ,700,600 1,659,792 40,153 1,699, % Youth's Benefit Elementary A/C ,800, , , ,334 4,506, % 521,633, ,799,218 9,647, ,447,041 33,186, % Capital Projects Spent Out Description Project # Budget Expenditures Encumbrances Total Balance % Remaining Abingdon Elem Playground ,458 88,458-88, % Church Creek Playground ,803 7,803-7, % Churchville Elementary Playground , , , % Edgewood Elementary Playground , , , % Emmorton Elem Playground , , , % Fallston High Roof ,191,783 1,191,783-1,191, % Forest Lakes Playground , , , % George D. Lisby Playground ,870 76,870-76, % Halls Cross Roads Playground , , , % Havre de Grace Elem Playground , , , % Hickory Playground , , , % Homestead/Wakefield Playground ,771 49,771-49, % Jarrettsville Elem Playground ,290 69,290-69, % Magnolia Elementary Playground , , , % Norrisville Elementary Playground ,100 70,100-70, % North Bend Elem Playground ,000 80,000-80, % North Harford Elementary Playground , , , % North Harford High Band Uniforms ,660 47,660-47, % Prospect Mill Playground , , , % Prospect Mill Remedial ,803,368 2,803,368-2,803, % Ring Factory Elementary Roof , , , % Ring Factory Playground , , , % Riverside Elementary Playground , , , % Roye Williams Elem Playground , , , % Southampton Middle Roof ,068,834 1,068,834-1,068, % William Paca/OPR Playground , , , % Youth's Benefit Playground ,317 68,317-68, % Totals of Projects Spent Out 8,090,107 8,090,107-8,090, % Sum of Open And Spent Out 529,723, ,889,325 9,647, ,537,148 33,186, % 5/1/2012 Prepared by Division of Business Services Page G-2