CF1 LAKE COUNTY SCHOOLS SUMMARY FOR PROPOSED GENERAL FUND BUDGET 201617 9/9/2016 Unaudited Proposed 6/30/2016 6/30/2017 Difference General Fund Projected Revenues 312,009,098 316,614,117 4,605,019 CF3 Prior Year Fund Balance ( PreClosing Estimate) (1) 17,039,286 15,518,916 (1,520,370) Available Funds 329,048,384 332,133,033 3,084,649 District Expenditures 275,896,232 283,457,855 7,561,623 CF7 Charter Expenditures 37,633,236 36,421,652 (1,211,584) CF3 313,529,468 319,879,507 6,350,039 Fund Balance 15,518,916 12,253,526 (3,265,390) CF3 Expenditures & Fund Balance 329,048,384 332,133,033 3,084,649 Summary of Fund Balance 4% Required Reserve 11,919,627 12,220,565 CF3 Carryover & Carryforward 3,599,289 32,961 15,518,916 12,253,526 (1) Audited General Fund balance 6/30/2015 Page 1 Budget Summary 09092016
CF2 LAKE COUNTY SCHOOLS SUMMARY FOR PROPOSED GENERAL FUND BUDGET 201617 8/8/2016 9/12/2016 8/8/2016 9/12/2016 Unaudited Unaudited Proposed Proposed 6/30/2016 6/30/2016 Difference 6/30/2017 6/30/2017 Difference General Fund Projected Revenues 308,383,853 312,009,098 3,625,245 313,943,819 316,614,117 2,670,298 Prior Year Fund Balance ( PreClosing Estimate) (1) 17,039,286 17,039,286 12,957,583 15,518,916 2,561,333 Available Funds 325,423,139 329,048,384 3,625,245 326,901,402 332,133,033 5,231,631 District Expenditures 275,902,649 275,896,232 (6,417) 278,318,369 283,457,855 5,139,486 Charter Expenditures 36,562,907 37,633,236 1,070,329 36,421,652 36,421,652 0 312,465,556 313,529,468 1,063,912 314,740,021 319,879,507 5,139,486 Fund Balance 12,957,583 15,518,916 2,561,333 12,161,381 12,253,526 92,145 Expenditures & Fund Balance 325,423,139 329,048,384 326,901,402 332,133,033 5,231,631 Summary of Fund Balance 4% Required Reserve 11,847,164 11,919,627 72,463 12,149,753 12,220,565 70,812 Carryover & Carryforward 1,110,419 3,599,289 2,488,870 11,628 32,961 21,333 12,957,583 15,518,916 2,561,333 12,161,381 12,253,526 92,145 (1) Audited General Fund balance 6/30/2015 Budget Summary 09092016
CF3 Original PreClosing 2nd FEFP Audited Budget Unaudited Calculation 201617 201617 201617 REVENUES 201415 201516 201516 201617 Charter District Adjusted Other 9/9/2016 41893 4890 36252 751 41893 Federal Direct: Federal Impact, Current Operation 3121 Reserve Officers Training Corps (ROTC) 3191 318,502.00 330,000.00 309,923.00 310,000.00 330,000.00 Miscellaneous Federal Direct 3199 Total Federal Direct 3100 318,502.00 330,000.00 309,923.00 310,000.00 330,000.00 Federal Through State and Local: Medicaid 3202 790,700.00 700,000.00 575,850.00 600,000.00 700,000.00 Stabilization Funds 3210 Stabilization Funds 3210 Stabilization Funds 3210 National Forest Funds 3255 84,931.00 85,000.00 78,667.00 80,000.00 80,000.00 Federal Through Local 3280 Miscellaneous Federal Through State 3299 413,462.00 750,000.00 693,526.00 700,000.00 750,000.00 Total Federal Through State and Local 3200 1,289,093.00 1,535,000.00 1,348,043.00 1,380,000.00 1,530,000.00 State: Florida Education Finance Program 3310 115,523,304.00 127,031,073.00 124,287,169.00 131,405,853.00 13,743,850.25 115,315,439.07 2,346,563.69 Virtual 3310 Workforce Development 3315 4,868,423.00 4,368,423.00 4,368,423.00 4,406,406.00 4,406,406.00 Workforce Development Incentive Grant 3317 296,572.00 Adults with Disabilities 3318 41,897.00 CO&DS Withheld for Administrative Expense 3323 22,684.00 22,280.00 23,045.00 22,280.00 22,280.00 Categoricals: Florida Teachers Lead Program 3334 690,063.00 693,382.00 693,382.00 683,606.00 79,794.56 591,556.70 12,254.75 Instructional Materials 3336 3,241,176.00 3,382,763.00 3,334,118.00 3,250,703.00 363,517.00 2,828,911.87 58,274.13 District Discretionary Lottery Funds 3344 Transportation 3354 8,403,298.00 8,417,849.00 8,465,248.00 8,589,132.00 550,080.00 7,885,077.87 153,974.13 Class Size Reduction/Operating Funds 3355 44,885,199.00 45,410,730.00 45,221,619.00 45,544,943.00 5,902,427.00 38,826,049.00 816,467.00 School Recognition Funds 3361 728,304.00 873,897.00 2,113,636.00 2,113,636.00 244,803.00 1,830,942.65 37,890.35 Proration Adjustment ADJ McKay Adjustment ADJ 2,464,491.00 Excellent Teaching Program 3363 PreSchool Programs (VPK) 3371 1,481,808.00 1,475,000.00 1,352,468.00 1,475,000.00 1,475,000.00 3373 Public School Technology 3375 Teacher Training 3376 Other State: State Forest Funds 3342 State License Tax 3343 360,718.00 350,000.00 389,945.00 400,000.00 400,000.00 Other Miscellaneous State Revenue 3399 600,000.00 477,136.00 1,068,344.00 1,068,344.00 Total State 3300 182,711,365.00 192,625,397.00 191,022,761.00 198,959,903.00 25,290,877.80 170,243,601.15 3,425,424.05 Local: District School Taxes (RLE) 3411 96,046,609.00 99,921,630.00 86,802,202.00 85,861,301.00 10,022,241.47 74,299,856.39 1,539,203.14 District School Taxes (0.748) 3411 13,119,428.00 13,919,431.00 1,624,758.73 12,045,143.88 249,528.39 Additional School Tax 3411 224,032.00 Tax Redemptions 3421 293,646.00 250,000.00 174,075.00 250,000.00 250,000.00 Payment in Lieu of Taxes 3422 Page 3 Budget Summary 09092016
CF4 Original PreClosing 2nd FEFP Audited Budget Unaudited Calculation 201617 201617 201617 REVENUES 201415 201516 201516 201617 Charter District Adjusted Other 9/9/2016 41893 4890 36252 751 41893 Excess Fees 3423 Tuition 3424 Rent 3425 Interest on Investments 3431 4,186.00 5,000.00 17,724.00 75,000.00 75,000.00 Gain on Sale of Investments 3432 Net Increase (Decrease) in Fair Value of Inv 3433 Gifts, Grants and Bequests 3440 3,159,149.00 1,421,320.00 1,472,659.00 1,113,482.00 1,113,482.00 Other Student Fees 3469 Preschool Program Fees 3471 3472 School Age Child Care Fees 3473 Other School, Course and Class Fees 3479 Miscellaneous Local: Miscellaneous /Leased to Other 3490 Bus Fees 3491 6,927.00 10,950.00 Transportation ServicesSchool Activities 3492 655,008.00 537,791.00 650,000.00 650,000.00 Sale of Junk 3493 82,197.00 141,232.00 200,000.00 200,000.00 Receipt of Federal Indirect Cost Rate 3494 814,060.00 981,597.00 1,500,000.00 1,500,000.00 Other Miscellaneous Local Sources 3495 1,695,480.00 3,150,000.00 1,351,331.00 820,000.00 (516,226.00) 1,336,226.00 Impact Fees 3496 Refunds of Prior Year's Expenditures 3497 395,825.00 11,925.00 Collections for Lost, Damaged and Sold Te 3498 Receipt of Food Service Indirect Costs 3499 327,722.00 350,000.00 464,996.00 475,000.00 475,000.00 Total Local 3400 103,480,809.00 105,097,950.00 105,309,942.00 104,864,214.00 11,130,774.20 91,944,708.27 1,788,731.52 Total Revenues 3000 287,799,769.00 299,588,347.00 297,990,669.00 305,514,117.00 36,421,652.00 264,048,309.42 5,214,155.57 OTHER FINANCING SOURCES (USES) Loans 3720 Sales of Capital Assets 3730 Loss Recoveries 3740 4,977.00 48,467.00 Transfers In/Out: From Debt Service Funds 3620 From Capital Projects Funds 3630 9,600,000.00 7,000,000.00 13,592,820.00 8,500,000.00 8,500,000.00 From Special Revenue Funds 3640 From Permanent Funds 3660 From Internal Service Funds 3670 2,000,000.00 2,000,000.00 From Enterprise Funds 3690 456,278.00 450,000.00 377,142.00 600,000.00 600,000.00 Total Transfers In 3600 10,056,278.00 7,450,000.00 13,969,962.00 11,100,000.00 11,100,000.00 0.00 Total Other Financing Sources (Uses) 10,061,255.00 7,450,000.00 14,018,429.00 11,100,000.00 11,100,000.00 0.00 Funds Available 2700 297,861,024.00 307,038,347.00 312,009,098.00 316,614,117.00 36,421,652.00 275,148,309.42 5,214,155.57 Total Funds Available 280,362,464.99 Required 4% Fund Balance 11,511,991 11,919,627 12,220,565 Suggested 5% Fund Balance 14,389,988 14,899,533 15,275,706 Page 4 Budget Summary 09092016
CF5 201516 201617 201617 Difference 4th Calculation Conference 2nd Calculation 201617 2nd Calc UFTE 41674 41893 41893 201516 4th Calc WFTE 41880 45432 45432 Base FEFP Funding 183,773,718 184,152,662 184,152,662 378,944 Plus: SAI 9,698,812 9,750,880 9,750,880 52,068 SAI Lowest 300 Elementary 591,210 591,210 591,210 Reading Allocation 1,893,611 1,882,076 1,882,435 (11,176) 0.748 Suppression 4,942,223 5,077,071 5,325,080 382,857 ESE Guarantee 12,308,105 13,613,760 13,613,760 1,305,655 Declining Enrollment Safe Schools 837,983 835,092 835,092 (2,891) Gross State & Local FEFP 213,454,452 215,902,751 216,151,119 2,696,667 Required Local Effort (86,802,202) (87,012,194) (85,861,301) 940,901 Net State Funding 126,652,250 128,890,557 130,289,818 3,637,568 Plus: Categoricals Transportation 8,465,248 8,510,495 8,589,132 123,884 Instructional Materials 3,334,118 3,272,248 3,250,703 (83,415) Teacher's Lead 693,382 683,606 683,606 (9,776) Class Size Reduction 45,221,619 45,544,943 45,544,943 323,324 Virtual Education Contribution 73,329 43,869 43,016 (30,313) Teacher Salary Technology Allocation Digital Classroom 886,326 1,156,635 1,156,635 270,309 Principal Training Proration to Available Funds (511,973) (83,616) 428,357 Additional Allocation Prior Year Adjustment 29,054 (29,054) Mckay Scholarships (2,841,817) 2,841,817 Lottery Funds 2,113,636 873,082 2,113,636 Total State Funding 184,115,172 188,975,435 191,587,873 7,472,701 Total Local Funding 99,921,630 100,949,051 99,780,732 (140,898) Total FEFP Funding 284,036,802 289,924,486 291,368,605 7,331,803 FLDOE FEFP Calc Reports 286,849,565 289,934,486 291,368,605 4,519,040 McKay Scholarships (2,841,817) Other Adjustments 29,054 284,036,802 289,934,486 291,368,605 4,519,040 Page 5 Budget Summary 09092016
CF6 201516 201617 201617 4th Calculation Conference 2nd Calculation UFTE 41674 41893 41893 WFTE 41880 45432 45432 Base FEFP Funding 4,410 4,396 4,396 Plus: SAI 233 233 233 SAI Lowest 300 14 14 Reading Allocation 45 45 45 0.748 Suppression 119 121 127 ESE Guarantee 295 325 325 Declining Enrollment Safe Schools 20 20 20 Gross State & Local FEFP 5,122 5,154 5,160 Required Local Effort (2,083) (2,077) (2,050) Net State Funding 3,039 3,077 3,110 Plus: Categoricals Transportation 203 203 205 Instructional Materials 80 78 78 Teacher's Lead 17 16 16 Class Size Reduction 1,085 1,087 1,087 Virtual Education Contribution 2 1 1 Teacher Salary Technology Allocation Digital Classroom 21 28 28 Principal Training Proration to Available Funds (12) (2) Additional Allocation Prior Year Adjustment 1 Mckay Scholarships (68) Lottery Funds 51 21 50 Total State Funding 4,418 4,511 4,573 Total Local Funding 2,398 2,410 2,382 Total FEFP Funding 6,816 6,921 6,955 Unearned FTE 4th Calc 6,883 6,921 6,955 McKay (68) Prior Yr 1 6,816 6,921 6,955 Page 6 Budget Summary 09092016
CF7 As of 08/08/2016 PROPOSED 201617 BUDGET GENERAL FUND Salary Benefits Other Total Reference District Departments 9XXX District Departments 29,642,007 10,079,264 39,721,271 E21/2 9XXX District Departments 199XX 10,133,943 10,133,943 E1 Pending Schools Instructional Run 08/23/16 103,645,865 31,549,942 135,195,807 D11/18 Other Instructional Run 08/23/16 7,455,359 2,172,603 9,627,962 D11/18 Other Funded Instructional Run 08/23/16 6,772,333 2,030,515 8,802,848 D11/18 Admin/Clerical/Support Run 08/23/16 16,915,131 6,010,083 22,925,214 D11/18 Insrtructional Support Run 08/23/16 6,973,603 4,028,891 11,002,494 D11/18 Custodial Run 08/23/16 7,302,099 3,597,826 10,899,925 D11/18 Other Support Run 08/23/16 988,035 417,726 1,405,761 D11/18 School Discretionary 11C01 2,114,499 2,114,499 D21/2 School Custodial 11009 657,687 657,687 D21/2 School Athletics 11002 350,250 350,250 D21/2 School Band 11003 75,000 75,000 D21/2 General Substitutes 00000 2,177,815 2,177,815 D21/2 School Printing 11010 160,000 160,000 D21/2 School STEM Programs 40,000 40,000 D21/2 Adjustments Formula Adjustment for Health Insurance (3,883,325) 750,000 (3,133,325) Estimate Salary Lapse 3.5% (7,104,904) (7,104,904) Estimate Worker's Compensation Ins ( Included in Benefits) (2,275,000) (2,275,000) Estimate Strategic Finance Plan Initiatives ( NonPosition) ELL/ Struggling Students 18002 145,000 145,000 Section O2 Investment in People (Talent Development Pipeline) 18008 1,300,000 250,000 1,550,000 Section O2 Teacher Induction & Coaching 18004 171,800 171,800 Section O2 Leadership Advancement 18009 10,250 10,250 Section O2 Program Evaluation & Innovation 18005 13,000 13,000 Section O2 Personalized Learning for Teachers 18001 110,000 15,000 115,000 240,000 Section O2 Personalized Learning for Students 18006 1,030,000 1,030,000 Section O2 Grants Next Generation Grant 65XXX 1,113,482 1,113,482 District Projects SAI: SAI ( Not Inlcuded in Allocation Formula) 14006,11,12,15,16 35,885 35,885 H1F1 SAI EBD Contract Lifestream 14009/14013 2,771,695 2,771,695 H1F1 SAI EBD ESY 14007 51,122 51,122 H1F1 SAI ADP Lifestream 14002 1,065,024 1,065,024 H1F1 SAI ADP ERHS & Transportation 14001 124,826 124,826 H1F1 SAI Lowest 300 Schools 591,210 591,210 H1F1 Other: Page 7 Budget Summary 09092016
CF8 Advanced Placement 13001 800,000 800,000 Alternative Certification Program 12001 53,760 53,760 Avid NonSalary 14003 69,110 69,110 BGA Payment from Savings 10000 776,966 776,966 CAPE 13003 800,000 800,000 Computer Licenses/Maintenance 12008 900,000 900,000 Computer Replacement Capital 12009 1,100,000 1,100,000 District Discretionary Lottery Funds (A+ Funds) 1,568,833 300,000 1,868,833 District/ State/Athletic/Academic 11005 6,000 6,000 Education Foundation (Pub Realtions/ PR) 12029 10,000 10,000 Education Foundation (Take Stock in Children) 12039 6,150 6,150 ESOL 12013 74,554 74,554 GAP Testing Development (Carryover) 12017 36,015 36,015 Health Issues 12018 10,000 10,000 HS Diplomas 11006 11,000 11,000 Home Instruction 12054 2,000 2,000 Instructional Extra Duty Pay 270,000 30,000 300,000 Loss not covered Insurance 12023 50,000 50,000 Loss not covered Lightning 12024 25,000 25,000 LSCC Health Science Program 200,000 200,000 LSCC Dual Enrollment 12010 350,000 350,000 McKay Scholarships 2,000,000 2,000,000 Other Liability Insurances 00000 1,472,827 1,472,827 Phone Lines 12000 195,000 195,000 Portable Leases 12022 750,000 750,000 Project Graduation 11007 7,500 7,500 Property Insurance 00000 1,400,159 1,400,159 Red Ribbon Week 12031 9,900 9,900 SACS Accredation 12038 39,325 39,325 Safe Schools SRO's 13008 769,329 769,329 School Media Replacement Capital 12034 144,000 144,000 Shared Services ( NonSalary) 12037 7,500 7,500 Special Programs (Art) 4,286 4,286 Special Programs (Robotics) 12032 6,000 6,000 Special Programs (Science Fair) 12035 9,625 9,625 Supplements Athletic 900,000 900,000 Supplements Other 1,100,000 1,100,000 Teacher Classroom Supply Allocation 13011 603,811 603,811 Teacher Training 12041 154,299 141,346 295,645 Terminal Leave 12042 900,000 100,000 1,000,000 Textbooks 2,887,186 2,887,186 Trout Lake 12063 16,500 16,500 Utilities ( NonFuel) 10000 7,122,870 7,122,870 Virtual (NonSalary) 12020 405,000 405,000 Volunteer Fingerprinting 12045 100,000 100,000 VPK (NonSalary) 1301213 53,425 53,425 Projected General Fund Expenditures 178,892,660 54,423,525 47,123,632 280,439,817 Prior Year Carryover/ Encombrance 3,018,038 3,018,038 Total General Fund Budgeted Expenditures 178,892,660 54,423,525 50,141,670 283,457,855 Page 8 Budget Summary 09092016
CF9 Audited % of Audited % of Audited % of Audited % of Audited % of Expenditures by Object 200809 District Total 200910 District Total 201011 District Total 201112 District Total 201213 District Total Salaries 156,600,796 62.2% 147,086,174 62.1% 148,560,674 60.4% 155,613,818 65.5% 156,805,988 65.6% Benefits 51,920,930 20.6% 48,011,663 20.3% 49,859,282 20.3% 41,852,500 17.6% 42,420,755 17.7% Purchased Services 17,012,401 6.8% 14,272,105 6.0% 15,353,577 6.2% 15,268,308 6.4% 14,694,279 6.1% Energy Services 10,069,557 4.0% 10,221,513 4.3% 11,181,618 4.5% 11,426,828 4.8% 10,731,664 4.5% Materials & Supplies 6,504,833 2.6% 9,024,893 3.8% 8,982,324 3.7% 5,652,193 2.4% 7,350,538 3.1% Capital Outlay 3,177,934 1.3% 2,860,510 1.2% 6,206,181 2.5% 2,855,266 1.2% 2,219,957 0.9% Other 6,495,849 2.6% 5,454,405 2.3% 5,759,030 2.3% 4,756,580 2.0% 4,834,613 2.0% Total 251,782,300 100% 236,931,263 100% 245,902,686 100% 237,425,493 100% 239,057,794 100% Plus Charter Expenditures 34,124,832 35,408,684 34,638,494 32,363,698 35,592,454 Net District Expenditures 285,907,132 272,339,947 280,541,180 269,789,191 274,650,248 Debt Service BGA Energy Mgmt Total Expenditures 285,907,132 272,339,947 280,541,180 269,789,191 274,650,248 Audited % of Audited % of Original Budget % of PreClosing % of Proposed Budget % of Expenditures by Object 201314 District Total 201415 District Total 201516 District Total 201516 District Total 201617 District Total Salaries 158,296,563 64.8% 163,122,419 63.2% 173,580,031 63.8% 173,123,751 62.9% 178,892,660 63.28% Benefits 45,954,130 18.8% 52,162,892 20.2% 51,220,792 18.8% 54,875,790 19.9% 54,423,525 19.25% Purchased Services 15,872,869 6.5% 19,773,218 7.7% 19,243,139 7.1% 20,020,825 7.3% 21,014,449 7.43% Energy Services 10,895,093 4.5% 10,334,554 4.0% 10,067,251 3.7% 9,083,738 3.3% 9,620,569 3.40% Materials & Supplies 6,975,954 2.9% 5,726,624 2.2% 8,785,359 3.2% 9,298,813 3.4% 9,467,329 3.35% Capital Outlay 2,195,957 0.9% 1,974,273 0.8% 4,112,905 1.5% 2,462,034 0.9% 3,341,992 1.18% Other 3,928,249 1.6% 4,905,628 1.9% 5,095,480 1.9% 6,254,316 2.3% 5,920,365 2.09% Total 244,118,815 100% 257,999,608 100.0% 272,104,957 100.0% 275,119,266 100.0% 282,680,889 100.00% Plus Charter Expenditures 38,507,045 37,496,924 37,045,725 37,633,236 36,421,652 Net District Expenditures 282,625,860 295,496,533 309,150,682 312,752,502 319,102,541 Debt Service BGA Energy Mgmt 776,966 776,966 776,966 776,966 Total Expenditures 282,625,860 296,273,499 309,927,648 313,529,468 319,879,507 Page 9 Budget Summary 09092016