MT LEBANON SCHOOL DISTRICT

FORECAST OF BUDGETED EXPENDITURES

2/3/2010 Preliminary Draft
Second Forecasted ESTIMATES!!! Audited Budgeted Budgeted Forecasted Forecasted Forecasted Forecasted Forecasted
2.5% sal,PSERS Incr,max HS debt 2008-09 2009-10 2010-11 2011-12 2012-13 2013-14 2014-15 2015-16

REVENUES $ 72,253,575 100% $ 72,285,270 100% $ 80,742,675 100% $ 83,324,019 100% $ 93,657,453 100% $ 96,456,850 100% $ 101,826,248 100% $ 103,875,679 100%

Real Estate Tax 48,291,589 67% 48,240,359 67% 56,978,265 71% 58,387,899 70% 63,765,041 68% 65,096,643 67% 69,002,591 68% 70,172,709 68%
Earned Income Tax 5,879,153 8% 5,882,317 8% 6,029,375 7% 6,210,256 7% 6,396,564 7% 6,588,461 7% 6,786,115 7% 6,989,698 7%
Other Taxes 1,380,302 2% 1,580,000 2% 1,575,000 2% 1,635,000 2% 1,697,550 2% 1,762,764 2% 1,830,761 2% 1,901,667 2%
Investment Earnings 938,296 1% 550,000 1% 605,000 1% 1,129,333 1% 1,310,833 1% 1,350,158 1% 1,390,663 1% 1,432,383 1%
Other Local Income 1,007,043 1% 459,810 1% 461,000 1% 472,230 1% 483,771 1% 495,632 1% 507,822 0% 520,351 1%
State 12,354,639 17% 12,225,227 17% 13,446,863 17% 14,275,656 17% 18,777,914 20% 19,925,154 21% 21,057,878 21% 21,595,948 21%
Federal (incl stimulus funds) 702,105 1% 1,649,322 2% 1,647,172 2% 1,213,644 1% 1,225,780 1% 1,238,038 1% 1,250,418 1% 1,262,923 1%
Gaming Fund Allocation 1,700,448 1,698,235 2% - 0%

EXPENDITURES $ 71,727,070 100% $ 72,285,270 100% $ 80,742,675 100% $ 83,324,019 100% $ 93,657,453 100% $ 96,456,850 100% $ 101,826,248 100% $ 103,875,679 100%

Salaries 40,019,113 56% 41,461,302 57% 42,497,844 53% 43,560,290 52% 44,649,297 48% 45,465,530 47% 46,602,168 46% 47,767,222 46%
Fringe Benefits 13,460,617 19% 13,219,747 18% 15,414,276 19% 16,573,211 20% 25,519,848 27% 27,496,204 29% 29,022,147 29% 29,715,650 29%
Contracted Services 3,370,837 5% 3,216,931 4% 3,216,931 4% 3,249,100 4% 3,281,591 4% 3,314,407 3% 3,347,551 3% 3,381,027 3%
Repair & Maintenance 1,315,242 2% 1,363,426 2% 1,363,426 2% 1,390,695 2% 1,418,508 2% 1,446,879 2% 1,475,816 1% 1,505,332 1%
Transp,Tuition,Insur 2,986,113 4% 3,317,176 5% 3,383,522 4% 3,451,192 4% 3,520,216 4% 3,590,621 4% 3,662,433 4% 3,735,682 4%
Supplies 1,458,542 2% 1,318,749 2% 1,318,749 2% 1,331,936 2% 1,345,256 1% 1,334,708 1% 1,348,055 1% 1,361,536 1%
Utilities 1,746,295 2% 1,862,018 3% 1,862,018 2% 1,899,258 2% 1,937,244 2% 1,825,054 2% 1,861,555 2% 1,898,786 2%
Books 814,620 1% 508,954 1% 508,954 1% 524,223 1% 539,949 1% 556,148 1% 572,832 1% 590,017 1%
Equipment 882,784 1% 690,275 1% 690,275 1% 697,178 1% 704,150 1% 711,191 1% 718,303 1% 725,486 1%
Fees 64,297 0% 69,095 0% 69,095 0% 69,786 0% 70,484 0% 71,189 0% 71,901 0% 72,620 0%
Federal Programs - 0% 165,000 0% 165,000 0% 169,950 0% 175,049 0% 180,300 0% 185,709 0% 191,280 0%
Joint Venture Debt 46,279 0% 55,694 0% 55,694 0% 56,251 0% 56,813 0% 57,382 0% 57,955 0% 58,535 0%
Budgetary Reserves - 0% 200,000 0% 200,000 0% 200,000 0% 200,000 0% 200,000 0% 200,000 0% 200,000 0%
Program Changes $153,700 incl above none none - - - - -
Transfer-Food Svs. - 0% 65,000 0% 65,000 0% 65,650 0% 66,307 0% 66,970 0% 67,639 0% 68,316 0%
Transfer-Debt Svs/Capital Fnd 5,562,331 8% 4,771,903 7% 9,931,891 12% 10,085,298 12% 10,172,741 11% 10,140,269 11% 12,632,183 12% 12,604,190 12%
Stimulus Fund Reserve (for disclosure purposes only) 202,518 -
-
FINANCIAL SUMMARY ESTIMATED!!! ESTIMATED!!! ESTIMATED!!! ESTIMATED!!! ESTIMATED!!! ESTIMATED!!!

Undesignated Fund Balance 4,337,122 4,337,122 4,337,122 4,337,122 4,337,122 4,337,122 4,337,122 4,337,122
Assessed Valuation 2,154,641,502 2,167,740,391 2,167,740,391 2,167,740,391 2,167,740,391 2,167,740,391 2,167,740,391 2,167,740,391
Revenue per mill 2,028,206 2,071,493 2,071,493 2,071,493 2,071,493 2,071,493 2,071,493 2,071,493
Millage Rate 23.81 24.11 27.51 3.40 28.19 0.68 30.78 2.60 31.42 0.64 33.31 1.89 33.88 0.56
ESTIMATED millage increases
DEMOGRAPHICS
Number of Students 5,294 5,302 5,287 5,273 5,283 5,236 5,213 5,152
Per Pupil Cost $ 13,549 $ 13,634 $ 15,272 $ 15,802 $ 17,728 $ 18,422 $ 19,533 $ 20,162

Salary increases at 2.5% per year, healthcare at 5% incr per year, retirement rate at PSERS current estimate, EIT at 3% incr in outlying years, State subsidies at 2% imcr per year, Investment rates increasing to about 3.25%.
Adjustments in 2013-14 for reduced operating costs from smaller high school. Final bond issue for high school payments begin in 2014-15 as do offsetting reimbursements from the State. Final bond assumes hs project at $113.3 million.
No adjustment was made to the fund balance in any year since funds remaining at the end of each year's operations are typically available to increase the fund balance to meet Board Policy.