Budget Book - 2013 - 1.cdn.edl.io · Analysis and Discussion: Addressing the Crucial Questions. ......

2013 Budget

Zionsville Community Schools

Budget Hearing: October 8, 2012

Budget Adoption: October 24, 2012

Item: Page:

1. Analysis and Discussion: Addressing the Crucial QuestionsIntroduction 1Executive Summary 3

2. Special Focus SectionThe State Funding Formula 8DOE Overview of 2013 State Tuition Support 162013 State Tuition Support Worksheet (Blank) 21

3. The Official Budget - State Forms and Related DocumentsState Form 1 34State Form 2 93State Form 3 102State Form 4 103State Form 4A's 104State Form 4B's 118Current Year (Line 2) Worksheets 126Debt Service Worksheets 134Capital Projects Plan 136Bus Replacement Plan 151

4. Projected Actual Revenues Introduction to 2013 Projected Revenues 158Chart of Projected 2013 Revenues by Fund 164Multi Year Comparison Chart of Revenues 165D.O.E. Printout of Projected 2013 State Aid 166D.O.E. Printout of 2012 State Aid (State Form DPI-54) 173Estimate of 2013 Actual Property Tax Levies 174Chart of Per Pupil Funding for Basic Grant 175Chart of Per Pupil Funding for Basic Grant plus Referendum 176Chart of Projected Property Tax Circuit Breaker Impacts 177

5. Projected Actual ExpensesIntroduction to 2013 Projected Expenditures 179Chart of Projected 2013 Expenditures by Fund 184Multi-Year Comparison Chart of Expenditures 185Chart of Projected 2013 General Fund Expenditures by Category 186Comparison of 2013 Projected Expenditures to 2013 Advertised Appropriations and Prior Years' Actual and Advertised Amounts 187Subsection A - Debt Service Expenditures

Introduction to Debt Service 196Summary of Long-Term Debt 198Chart of Debt Service Lease-Rental Payments 199Combined Amortization Schedules for Long-Term Debt 200

Subsection B - Capital Projects ExpendituresIntroduction to Capital Projects 201Chart of Projected 2013 CPF Expenditures by Category 203Multi-Year Comparison Chart of CPF Expenditures 204Schedule of Building Maintenance Priority Items Funded in 2013 Budget 205Summary of Report on Zionsville Community High School Roof 206Summary of 2013 Capital Projects Plan by Building 207

Zionsville Community Schools2013 Budget

Table of Contents:

Section:

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Zionsville Community Schools2013 Budget

Table of Contents:

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Comparison of 2013 Projected CPF Expenditures to 2013 Advertised Appropriations and Prior Years' Advertised Amounts 208

Subsection C - Transportation ExpendituresIntroduction to Transportation 212Chart of Projected 2013 Transportation Expenditures by Category 214Comparison of 2013 Projected Transportation Expenditures to 2013 Advertised Appropriations and Prior Years' Advertised Amounts 215

6. Cash Flow ProjectionsIntroduction to Cash Flows 219Projected Revenues for 2013 and 2014 Budget Years, and 2012-2013 and 2013-2014 School Years 222Projected General Fund Expenditures for 2013 and 2014 Budget Years, and 2012-2013 and 2013-2014 School Years 224Projected Tax Supported Fund Expenditures for 2013 and 2014 Budget Years, and 2012-2013 and 2013-2014 School Years 225Projected Budget Results - Income Statement Format 227Projected Budget Results - Cash Receipts, Disbursements, and Balances Format 228

7. ConclusionSummary and Recap of the Five Questions 230Afterword 232

Section 1

Zionsville Community Schools 2013 Annual Budget

Introduction to the 2013 Budget

Introduction:

Zionsville Community Schools presents in this book its proposed 2013 budget. The 2013 version of the “Budget Book” is intended to make our budget accessible and understandable. This year’s book features an emphasis on the expected differences between the advertised amounts that must be submitted to the State of Indiana in the required formats to comply with state regulations as contrasted to the actual revenues we expect to receive and the expenditures we hope to be able to fund in the coming year. Emphasis is given to providing clear, concise information to allow the lay reader to determine for himself or herself the answers to the most basic questions that every person who reads any budget needs to know. Specifically, there are five basic questions of public budgeting:

1. How much will we spend and what will we spend it on? 2. How much revenue will we receive and from what sources? 3. Will our budget be balanced? 4. What does all this mean to the taxpayer? 5. What is our long-term outlook?

The elements of these questions are addressed throughout this book, with a summary written as clearly and concisely as possible in the final section of the book to ensure complete treatment of these vital issues. It must be remembered throughout the sections of this book that deal with projections of revenues, expenditures, and cash flows, that the numbers and amounts presented are based on the general assumption that the school corporation will receive all revenues for the various funds that are legally authorized and will make the expenditures called for in its current contractual and other commitments with its present staff and contractors. The projections presented are reflections of what is believed will happen, and are not in and of themselves determinative of any future event. The actual financial results achieved may therefore be materially different from the projections and estimates shown in this book.

General Notes:

As is the normal practice we have followed for the past several years, the proposed budget has been constructed deliberately to be a “defensive” budget. This means that we have used very conservative assumptions to compile the budget estimate. As in a number of past years, the budget preparation work was required to be completed before conclusive information was available regarding student enrollment for the school year was known. The assessed valuation of property in the district was also an unknown figure in budget preparation as of the preparation of this year’s budget figures. Yet these two variables are the most important influences on our actual revenues for any given budget. Accordingly, we have constructed the estimates and projections shown with as

Working Document - 2013 Budget - Page 1

much flexibility and as wide of a margin for error as possible to preserve our future options once these key data points are known. However, conservatism in developing our other basic assumptions and estimates are common strategies that many public school corporations in the State of Indiana normally employ for budget formulation. The Zionsville Community Schools’ 2013 budget, although prepared in such a way as to provide adequate hedges against uncertainties, realistically reflects the operational priorities of the school corporation. The budget is intended to enable the school corporation to continue to fulfill the mission metrics of the corporation, and to continue forward in its mission to function as a premier school community. It is the expectation of management that this budget will meet the goal of providing an appropriate financial vehicle for the school corporation to continue and enhance its programs, services, and activities for the instruction of children.

Questions or Comments? If you have any questions about this book or any related budget topic or issue, we welcome you to call 733-4848 or email: [email protected]. Your feedback about this book, and any suggestions for improving it or making it more useful, readable, and relevant would be greatly appreciated.


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Zionsville Community Schools Executive Summary of the

2012 Annual Budget

INTRODUCTION

As has been our practice in the past, the Zionsville Community Schools’ proposed 2013 budget is once again deliberately constructed to be as “defensive” as possible. This year’s Budget Book follows the re-designed format first used for the 2012 budget. The book was redesigned then to make our budget more accessible and understandable. As was the case last year, this year’s book features an emphasis on the expected differences between the advertised amounts that must be submitted to the State of Indiana in the required formats to comply with state regulations as contrasted by the actual revenues we expect to receive and the expenditures we project that we will have to make in the coming year. All of the required state budget forms and related state-required documents are found in Section 3 of this book. The other sections of the book dealing with projected revenues and expenditures, as well as the detailed expenditure information for certain special areas and the projected cash flows, all refer to the actual numbers we expect to see rather than the advertised budget amounts. (In a few documents we did find it desirable to show both advertised and projected actual for comparison purposes, but in those instances the respective amounts are both clearly labeled and captioned to prevent confusion). While Sections 4, 5, and 6 of this book contain detailed information about the revenues, expenditures, and cash flows we project or expect in 2013, we have put a number of supplemental documents on our website that the reader may find useful. This includes items like the Indiana Business Research Center’s enrollment projections, Standard and Poor’s latest credit evaluation of ZCS, a glossary of budget terms, and other similar items. Section 2 of this book features a special focus article about the State of Indiana’s school funding formula and contains a discussion of its effects on Zionsville Community Schools as well as some historical and comparative information. The material in Section 2 also attempts to look at what the future may hold for us in regard to state funding and what changes in the formula would be beneficial to Zionsville Community Schools. In the interest of being defensive, we have made more than sufficient appropriations in the official advertised budget to ensure that the Zionsville Community Schools will receive the maximum funding for our actual ADM enrollment. As of this writing at the end of second week of classes, our enrollment is slightly above the number projected by Indiana University’s IBRC for 2012-2013. We have used this actual enrollment count to provide an acceptable margin for error in our revenue forecasts. Overall, we expect a below average increase in revenues (as compared to other school corporations within Indiana). This is primarily due to changes made in the state funding formula by the 2011 General Assembly. The most important change to ZCS is that the funding per pupil is continuing to drop. Our basic grant (not including specialized categorical funding) for 2013 is now $90.26 less than the per pupil amount we received in 2003. When adjusted for inflation, this is is 22% less per child than we received ten years ago.


We found it necessary to build the proposed 2013 budget using the actual 2011-pay-2012 figure for our Assessed Value. State statute requires that we receive the assessed valuation numbers from Boone County on or before the first day of August each year. However, Boone County has not been able to meet this annual deadline since 2002. In fact, the Indiana Department of Local Government Finance (DLGF) reports that only five of Indiana’s 92 counties have met the statutory deadline in 2012. ENROLLMENT AND GENERAL FUND REVENUES In regard to General Fund revenues for 2013, the funding formula is expected to result in a small revenue increase in our basic grant. Our increase in enrollment of about 3% will offset the reduction in funding per pupil, resulting in a total increase for the General Fund of approximately three-fourths of one percent. Obviously a 3% enrollment increase and a 0.75% revenue increase are not proportionate and mean we will have fewer dollars with which to educate each child. At this point we are assuming that all other General Fund revenue from the state funding formula will remain very stable. The legislature has not changed the funding for the “categorical” grants for 2013, which means that our funding for these specialty instructional areas will remain the same if the number of students served in each category (special education, vocational education, etc.) remains at the same levels as in 2012. The Full-day Kindergarten Grant saw a large funding increase for the 2012-2013 school year as a result of action by the state legislature. The increase in funding, and the timing of the cash flows associated with these funding increases, allowed Zionsville Community Schools to offer full-day kindergarten for the first time for 2012 -2013. Based on the public statements and comments of Governor Daniels, Superintendent of Public Instruction Bennett, and a number of influential legislators, we expect, and have incorporated into the 2013 budget, that this grant will continue to be offered at the new funding level by the state. For 2013, we project that Zionsville Community Schools will receive $1,075,320. One final matter, which is not addressed in detail in this budget book, must be mentioned in regard to this topic. The current funding formula statute is set to expire on June 30, 2013. The legislature has indicated that it will write a new funding formula to take effect July 1, 2013, and that future changes to the formula will occur on a fiscal year rather than a calendar year basis. Until final legislation is actually forthcoming to address this, we are not able to make projections or financial predictions, nor to alter our existing models, on any basis other than assuming that the status quo will prevail through the entire 2013 budget year. We cannot speculate at this time as to the effect the courses of action the legislature may take in regard to school funding for the last half of the 2013 calendar year and beyond, other than acknowledging that this area is a c omplete unknown. Differences between the projections in this book for 2013 and the effects of the actions of the legislature may be material.


GENERAL FUND EXPENDITURES There is of course a disconnect between costs and revenues. School corporations’ cost increases and decreases are not directly dictated by changes in the revenue stream. With the understanding that revenues would not materially increase over the next budget cycle from the current levels, we found it necessary to take direct action to contain costs in 2009, 2010, and 2011. As described in detail in previous years’ budget books, our actions through 2010 resulted in cost savings of various types for the General Fund which in the aggregate total approximately $4.85 million. Unfortunately, these amounts were not sufficient. Since certain of these costs savings, notably including the one year salary freeze and benefits moratorium negotiated with the Zionsville Educators Association, expired in 2011, we concluded that cost cutting alone would not be sufficient and that we could not reasonably cut our way out of the current funding situation. However, in formulating the 2012 budget, no other acceptable alternatives were at hand and further cost cutting measures, which included a contemplated additional reduction in force for our instructional staff, were incorporated into the proposed budget. As is well known in the community, the condition of Zionsville Community Schools has changed significantly since that time. In May 2012 we were successful in winning voter approval of a three year referendum with an approved levy rate of 24.44 cents per hundred dollars of net assessed valuation. This is expected to generate approximately $4.7 million dollars annually in 2013 through 2015. These funds, which by law must be accounted for in a separate “Referendum” fund, will be used to support expenditures for teacher salaries and benefits. These costs would have been unsustainable from the General Fund. Without the successful passage of the referendum, Zionsville Community Schools would have been forced to reduce its teaching force even further through lay-offs and attrition. This would have caused its class sizes to increase dramatically from the levels seen in the 2011-2012 school year, even though those levels were widely acknowledged in the community to be un acceptably large. The effects of reducing teaching staff by what would now be the equivalent of 70 to 80 teachers would have been severe and forced the discontinuation of a number of instructional programs. PROJECTED GENERAL FUND CASH BALANCE General Fund revenues and expenditures currently are forecasted to be in balance for 2013. There would be a deficit between revenues and expenditures of about $1.1 million in the first half of 2013 due to the implementation of our plan to “bridge” ourselves to referendum funding if the General Fund were used to pay all teacher salaries and payroll costs during that six month period. The “bridge” plan, approved by the Board of School Trustees at the May board meeting, requires the use of Rainy Day Funds to bear the costs associated with our increase in staffing for the 2012-2013 school year until Referendum funds become available in June 2013. Looking beyond just 2013, our projection to 2014 shows that we may expect that the General Fund can remain in balance during that period. Details are given in Section 7 of this book regarding these matters.


ESTIMATE OF 2013 TAX RATE Normally, we present in this budget book our best good-faith estimate of the actual tax rates that our taxpayers will experience in the following year from our proposed budget. It is very difficult for us to make such an estimate for 2013 at this time, given the number of uncertainties we face this year. Our best estimate is that the rate will increase to approximately $1.40 - $1.42, not including the separate Referendum rate. Our estimate last year was that we would see a maximum rate of $1.35 for 2012. The actual rate set by DLGF turned out to be $1.3410. Given this recent history, we are not at all confident of the accuracy of our estimate, and note that the final rate will again be determined at the discretion of the Indiana Department of Local Government Finance. CONCLUSION Just as in past years, the Zionsville Community Schools’ 2013 budget is intended to enable the school corporation to continue to move forward in its mission to function as a premier school community. We believe that we have made the correct strategic choices to date. The advent of the property tax circuit breaker coupled with the state funding reductions necessitated by the economic recession in the same timeframe aptly has been deemed a “perfect storm” for school corporation finances. DOE officials have described the funding reductions as a permanent action that “presses the reset button” on public school finances. These massive revenue reductions statewide have been in excess of $300 million per year for 2010, 2011, and 2012 each, cumulatively totaling over $1 billion in state funding reductions to public K-12 education statewide. As noted above, continued reductions are occurring in state funding per pupil in 2013. Paying for 2013 level expenses with General Fund per pupil revenues below the 2003 level will continue to pose ongoing challenges. Even with Referendum Funding in place, we will need to continue to be very conservative in our approaches to financial issues. The good news is that contingent upon actions by the legislature, we do see the possibility of balanced budgets ahead in 2013 – 2015.


Section 2

Zionsville Community Schools2013 Annual Budget Special Focus:

The State of Indiana’s Funding for Public Schools

BACKGROUND

School corporations in Indiana receive the majority of the funding for their General Funds fromthe State of Indiana. The funds are allocated and distributed to each school corporationaccording to a statutory formula (the “funding formula”). Traditionally the funding formula getsaddressed and re-written by the legislature every other year when the legislature is writing eachbiennial state budget. Over the years, the legislators have formulated quite a number ofprevious incarnations that used, modified, discarded, re-implemented, and so on, variouselements of the formula.

The present formula has its roots in tax reform plan enacted by the 2008 session of the IndianaGeneral Assembly. Prior to this legislation, Public Law 146 (PL146 - 2008), 40-50% of thefunding for the General Funds of school corporations came from local property taxes, with therest coming from the general revenues of the state. Under PL146, beginning with the 2009budget, all funding for the General Funds from local property taxes was abolished and fundingresponsibilities were shifted entirely to the state. A statewide sales tax increase, from a 6%sales tax to a 7% sales tax, along with certain other revenue raising measures, was enacted bythe legislature to provide a mechanism to replace $1 billion of the property taxes abolished.

Unfortunately, by the fall of 2008, only a few months after the end of the legislative session thatsaw the enactment of PL146, it became more and more obvious that the entire Americaneconomy was moving into a crisis mode, largely but not entirely prompted by the collapse of thesub-prime mortgage market and devaluations of a variety of asset-backed securities and otherrelated financial instruments. With the ultimate failures of such prominent financial houses asLehman Brothers, Bear Stearns, and others followed by massive federal governmentinterventions and bailouts, it was clear that our nation had entered the most intense recession ofthe post-World War II era. While it is far beyond the scope of this book to discuss the full detailsof the macro-economic concepts and ramifications of the national economy’s recession, it isimportant to note the well-known and widely reported effects, timing, and extent of this severeeconomic downturn as they correlate to the State of Indiana’s budget and the effects on schoolfunding experienced since. It should be noted, for instance, that the sales tax increase fellsignificantly short of bringing in the planned $1 billion of revenue to replace the abolishedproperty taxes, and in fact produced only just over $600 million.

In total, the State of Indiana’s revenues from all sources during the recession, missed budgetforecasts for 22 months of a 24 month period. To cope with this situation, the State made anumber of significant spending cuts affecting state agencies, higher education institutions, andfinally had to reduce funding for K-12 public education by over $300 million for 2010. A similarcut of a slightly larger amount occurred again in 2011. These funding reductions occurred afterthe funding formula had already been written for both years, and were withheld from schoolcorporations under the State’s emergency powers even though the statutory funding formulashowed that the public schools were entitled to these funds. For 2012 and 2013, the legislaturehad time to re-write the formula and incorporate the cuts into the formula itself.


At this point, the cumulative total of the cuts already made for 2010, 2011, and 2012 now totalover $1 billion in state spending for K-12 education. Zionsville Community Schools saw itsfunding reduced as a result of its allocated share of these state cuts by $1.5 million in 2010 andanother $1.6 million in 2011, with this reduction being repeated again in 2012 and 2013 byvirtue of the reductions being incorporated into the funding formula.

DETAILS OF THE CURRENT FUNDING FORMULA’S VARIABLES AND CALCULATIONS

The official summary provided by the Indiana Department of Education for the 2013 fundingformula is attached as an exhibit (beginning on page 16) to this discussion. As the officialsummary shows, the funding formula has two primary sections. The first and by far the mostimportant of these is referred to as “Tuition Support” or “Basic Tuition Support.” This section isby far the larger and more important of the two, and will be explored in detail below. The secondsection although the term is not used in the official summary, is generally referred to as the“categoricals” and consists of separate calculations to determine the amounts of funding aschool corporation will receive for certain specialized areas of instruction, including honorseducation, special education, vocational education, etc. As a general rule of thumb, most schoolcorporations see the “categorical” contribute 10% or so to their total state funding, with the other90% coming from the Basic Tuition Support.

The Basic Tuition Support section of the funding formula determines the amount each schoolcorporation will receive in the budget year on a per pupil basis. The final step after per pupilfunding is determined is to multiply the per pupil amount times the actual number enrolled. Theprincipal of “The dollars should follow the kids” that was long a goal has been realized.However, in past versions of the formula determining the funding per pupil required quite aconvoluted set of calculations. In some prior years consideration of more than two dozenvariables was required to wade through as many as one hundred separate mathematicaloperations to finally arrive at the per pupil funding. A copy of this year’s blank formula worksheetis attached (beginning on page 21) as an exhibit after the official summary to allow the reader toexamine the current, simplified formula now in use. Although the form may appear a bitconvoluted, Sections A through C found on pages 3 through 5 of the worksheet are all that arenow required to determine Tuition Support. A close examination of this worksheet reveals thatalthough they are manipulated and combined in various ways as one works through the form,there are truly only three variables that control the amount of funding a school corporation willreceive.

These three variables in order of their influence on per pupil funding are: ADM (a measure of aschool corporation’s enrollment), Complexity Index (a surrogate measure used as a proxy toreflect the amount of poverty in a school corporation), and Previous Year’s revenue.

To examine more closely the effects and interactions of these variables, we have attempted tocalculate the amounts of per pupil funding for each of the 290 public school corporations (of the292 in Indiana) for which funding data was available to project their 2013 funding formulaamounts. It should be noted that data for enrollments and free and reduced lunch rates for 2012were used to prepare a uniform projection since this data is not yet available for 2013.

ADM has only a weak influence on the amount of per pupil funding each school corporationreceives. In the formula, a flat grant amount of $150,000 is provided to every school corporationwhich has an ADM of at least 1,000, while school corporations with an ADM of at least 500 butless than 1,000 receive $150 per pupil. Originally this section was reputedly added to thefunding formula to promote or reward efficiency and encourage consolidation among very small


y = -0.0026x + 5524.6R² = 0.0004

$4,000.00

$4,500.00

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$6,000.00

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0 5,000 10,000 15,000 20,000 25,000

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ADM

2013 Projected - ADM vs. Per Pupil Funding

(less than 500 ADM) school corporations. However, in practice, it functions as a growth penaltyfor school corporations with ADM’s over 1,000. This happens because school corporations withADM’s over 1,000 must divide the $150,000 by the number of students, which causes aninequity in per pupil funding. For example, if school corporation “A” has 1,100 students, its perpupil funding from this line in the formula would be $150,000 divided by 1,100, or $136.36 perpupil. By the same token, school corporation “B” with an ADM of 10,000 students would get only$15.00 per pupil, while school corporation “C” with an ADM of 500 gets the flat $150 per pupil.However, as shown on the following chart, the overall influence of ADM is far and away thesmallest of the three variables in the total per pupil funding and actually does not showstatistical significance in its correlation to per pupil funding.

The Complexity Index is a bit more interesting. This variable has been a fixture in one form oranother in the funding formula since 1992. At that time it was first introduced as a separatecategorical called “At-Risk” and was based on a variety of factors including percentages ofpersons in poverty, single parent homes, and high school dropouts as determined by Censusdata. Over the years the factor moved out of the categorical into the tuition support calculation,with a number of changes to the factors considered and to their relative weighting. The namewas changed to “Complexity Index” in 2003. In 2008 the Complexity Index was abbreviated toconsider only the percentage of students in a school corporation who qualify for free or reducedprice lunches under the income guidelines of the Federal National School Lunch Program. Allsubsequent versions of the funding formula have maintained this as the only factor consideredin the Complexity Index.

When we look at the effects of the Complexity Index in the formula, we find that it makes amuch more significant difference in the per pupil amount allocated to a school corporation thandoes ADM. It also causes much more variance among school corporations than the ADM factor.The underlying rates of students on free or reduced price lunch, hence presumed to be in


poverty, are quite different across the various public school corporations. Zionsville CommunitySchools has the lowest rate in Indiana with 5.53% of its students qualifying. On the other end ofthe spectrum, East Chicago’s rate exceeds 90% with Indianapolis Public Schools and severalother Lake County corporations all over 80%. The Indiana Department of Education’s datashows that the statewide average for the 2011-2012 school year was approximately 45%.

The Complexity Index’s major role in the formula is based on the premise that children inpoverty are more difficult to educate (“more complex”) than those who are not, and that thesolution to this difficulty is more money. It is beyond the scope of this discussion to argue for oragainst the merits of the intellectual underpinnings of this philosophy, however, it is only fair toobserve that the Complexity Index has now been in the formula for over 20 years. It hasfunneled several extra hundreds of millions of dollars annually to the high poverty schoolcorporations, and yet the objective measurements of student performance, including ISTEPscores, SAT scores, and Graduation rates, do not reflect any improvement which appears to becommensurate with the amounts invested.

y = 4561.8x - 104.96R² = 0.7044

$4,000.00

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$6,000.00

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1.00 1.10 1.20 1.30 1.40 1.50 1.60 1.70

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Complexity Index

2013 Projected Complexity Index vs. Per Pupil Funding

The strong statistical correlation between the Complexity Index and per pupil funding comesfrom this variables central role in the funding formula calculations. The very first line of thefunding formula’s tuition support section begins with the free and reduced lunch percentage,multiplies this by a constant then adds a bonus amount if the Complexity Index is above 1.31,then multiplies this new factor by the state’s standard per pupil amount. The ADM factordiscussed earlier is then added in on line 7 of Section C in the formula to arrive at what is calledthe “Foundation Amount.” This important measure of target revenue per pupil is commonly usedfor comparisons between or among school corporations. For 2012, Indiana University’s Centerfor Evaluation and Education Policy determined that Zionsville Community Schools had thelowest target revenue, or “Foundation Amount” of any public school corporation in the state.This is a direct result of our having the lowest Complexity Index.


y = 0.9488x + 261.89R² = 0.9966

$4,000.00

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$5,000.00

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$6,000.00

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$4,000.00 $4,500.00 $5,000.00 $5,500.00 $6,000.00 $6,500.00 $7,000.00 $7,500.00 $8,000.00

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Previous Year Revenue Per Pupil

2013 Projected - Previous Year Revenue vs. Per Pupil Funding

The final variable is Previous Year Revenue. As shown on the chart above, this variable actuallyhas the strongest statistical correlation to Per Pupil Funding of all the variables in the currentfunding formula. This is interesting because there is no definable source for the components ofthis variable. It is simply the legacy amount that a school corporation received the previous year,which in turn had as its most influential variable the amount that the school corporation receivedthe year before that, and so on.

Essentially, Previous Year Revenue is the sum total, or perhaps more properly the cumulativeremnants, of all the funding formula components of prior years. In a quick trip down memorylane we note that over the past couple of decades the funding formula has at one time oranother contained quite a number of other factors and calculations which are no longer part ofthe formula today. At one time or another the formula has featured de-ghoster and re-ghosterfactors which affected the time lag between enrollment changes and funding changes, minimumand maximum guaranteed increases and decreases in funding, adjustments to local propertytax targets for various reasons, appeals to allow increases in the local property tax rate for theopening of new facilities or to make up for levy shortfalls or other reasons, adjustments forexcise tax receipts, enrollment growth grants which used different criteria in different years, andso on.

The combined effects of all these different funding formula inclusions and the various tweaks,adjustments, and politically motivated alterations in them over the years all are now reflected inthe current Previous Year Revenue, which as shown still has the most highly correlatedrelationship to current per pupil funding of any of the variables in the current formula.


When we look at the goals and future of the funding formula, we first must consider the purposeof limiting the formula to the three variables, ADM, Complexity Index, and Previous YearRevenue, it now contains. The modern formula, post PL146, seeks to fund Indiana public schoolcorporations solely from state revenues. It follows the philosophy of setting a base amount offunding which is a uniform per pupil amount across all school corporations in the state. Thebase is then adjusted upward by use of the complexity factor, which as described above variesconsiderably from one school corporation to the next. The ADM factor is then applied to the perpupil funding, with the resulting number at that stage of the calculation referred to as the“Foundation” amount. This amount, which varies for 2013 from a low of $4,553.09 (ZionsvilleCommunity Schools) to a high of $7,243.30 (East Chicago Schools), has a statewide mean of$5,508.26 and a standard deviation of $411.33.

The final stage in the calculations within the funding formula requires the application of thePrevious Revenue factor discussed above. However, the current funding formula has beendesigned to move every school system uniformly towards the standard Foundation amount perpupil. Accordingly, the formula calculates a measure of the difference between the PreviousYear Revenue per pupil and the current year’s Foundation amount. The plan, assuming thelegislature continues on its present path, is to bring all school corporations to the Foundationamount by 2018. In 2013, the formula deducts one-sixth of the amount by which Previous YearRevenue exceeds the Foundation amount for each school corporation and sets that amount atcurrent year funding. Although theoretically, the formula would increase funding if a schoolcorporation’s per pupil amount in the prior year was less than the Foundation amount, ananalysis provided by the State Legislative Services Agency indicates that no schoolcorporations in Indiana would be below their Foundation amount for 2012 or 2013, but 229school corporations had Prior Year Revenues higher than their Foundation amounts in 2012and 179 are still above that threshold for 2013.

Essentially, after all other calculations are made, the formula applies the Prior Year Revenuevariable and then sets the current year per pupil funding at the lower of either the Foundationamount or the Prior Year Revenue minus one-sixth. This explains the status of Prior YearRevenue as the most influential of the three variables in the formula. In future years this fractionwill change, becoming one-fifth in 2014, one-fourth in 2015, and so on if the legislature doescontinue the present program of moving all schools to the Foundation amount.

EQUITY AND ADEQUACY

At this point, we must stop to consider two twin issues which are always concerns in schoolfunding, equity and adequacy. The results of the state funding formula up to the point in thecalculations at which the Foundation amount is determined obviously are equitable if oneaccepts the belief that having schools funded at levels varying by as much as nearly $2,700 perstudent based on the percentage of poverty in a school district is equitable.

However, if one disagrees with that approach and looks instead for data or evidence that provesthis degree of variance in funding is or has been effective in equalizing educational outcomes, itis clear that this definition of equity is seriously flawed. Comparing those school corporationswith the highest Foundation amounts of per pupil funding to the latest listing of low performingschool corporations on ISTEP shows that 13 of the top 20 school corporations in Foundationfunding are in the bottom 20 school corporations in ISTEP total passing percentages. In fact, ofthe five highest funded school corporations, four of them currently occupy the last four positionson the very bottom of the list in passing ISTEP, while the fifth is also in the bottom 20. This


remarkably strong correlation between high funding and low academic performance illustratesthat the question of equity in the formula is very much a coin with two sides.

The final step in the formula of applying the Prior Year Revenue introduces even more potentialinequity into the formula. Given that it is the cumulative and compounded residue of majordifferences in property taxes formerly paid in the different communities, student growth andmigration patterns in each locality, building projects, discontinued grants of various types thatwere rolled into or out of the formula, and so forth, it is hard to even begin to guess at how muchequity is or is not incorporated into this variable. We do observe that the high to low variancerange among school corporations at $3,088.46 per pupil for 2013 is even greater than thevariance in Foundation amounts.

In terms of adequacy, we note that Indiana University’s Center for Evaluation and EducationPolicy study, referred to earlier, which determined that Zionsville Community Schools had thelowest target revenue, or “Foundation Amount” of any public school corporation in the state,showed five other public school corporations (and four charter schools) making up the bottomten in funding per pupil in the state. With the passage of an Operating Referendum in Zionsvillethis past May, Zionsville Community Schools made it unanimous among this group of publicschool districts. Carmel-Clay Schools, Hamilton Southeastern Schools, MSD Southwest AllenCounty, Northwest Allen County Schools, and West Lafayette Community School Corporationhad all already passed local referendums to supplement their state funding. In looking at theuniformly good academic performance in these school districts, it is inescapable that these localcommunities value education and have all concluded as a community that the state fundingderived for their school corporations is not adequate to maintain a first class education program.

The adequacy issue is exacerbated by the reductions in state funding. As noted earlier, 2010and 2011 saw direct reductions in state funding that were deducted from the amounts due toschool corporations under the funding formula. For 2012 and 2013, the legislature re-wrote theformula and incorporated the cuts into the funding formula itself. This was done by reducing thefunding base amount which is used to compute the Foundation. The base funding amount for allschool corporations which is the starting point in the calculations and to which the ComplexityIndex is then applied as explained above, was reduced from $4,825 in 2009 to $4,550 in 2010then to $4,505 in 2011 and to $4,290 for 2012. For 2013 the base increases part of the wayback to $4,405, still well below the 2009 - 2011 numbers. The changes at the very beginning ofthe formula, with the target amount multiplied by the Complexity index and also affecting thePrior Year Revenue amount does make a major impact on overall funding. Projecting forward,the value of the Prior Year Revenue variable will continue to drop. In 2018 when all schoolcorporations reach the Foundation amount, it is unlikely that pure state funding will proveadequate at all without major increases in the base funding amount.

OUTLOOK FOR THE FUTURE: 2014 AND BEYOND – A FEW SUGGESTIONS

The future of the funding formula is a large question mark to us at this time. Given thecontinuing constraints on the state’s finances, even with Indiana faring better than most states inthe slow recovery from the economic recession, it is unlikely that it will be possible to see largeamounts of additional financial resources made available to public schools. This is particularlytrue when considering the very expensive costs the state is experiencing in a number of otherareas of the state budget for Medicaid, public safety and corrections, higher education, and ahost of other line items. Even the recently enacted funding enhancements for Full-DayKindergarten, which will cost somewhere in the neighborhood of $325 million to maintain for the


next biennium must be seen as competition for state dollars with other K-12 funding needs andthe funding formula in particular.

However, if we assume that the “pie” of state funds for K-12 education will not be able to getmaterially larger in the 2014 and 2015 fiscal years, the funding formula as the instrument that inlarge part slices up that pie could do so differently than at present. A host of possibilities exist asto changes that could be made to the funding formula. At Zionsville Community Schools wehave publicly expressed a goal to see ZCS get “a better deal” from state funding. Since wearguably have one of the most undesirable if not actually the very worst deal in the state, almostany reasonable change to the funding formula should bring improvement from our standpoint.

One obvious issue is the Complexity Index. At present, approximately 20% of the total fundsdistributed to Indiana school corporations through the funding formula are controlled by thecomplexity index. This equates to nearly $1 billion per year statewide. No one can argue thathigh poverty schools generally do have high overhead costs, typically needing large securityforces, in-house social workers, lower staffing ratios for counselors, additional special educationpersonnel and so on while experiencing high costs for free textbooks and numerous otherspecial materials and services. However, in today’s era of pay-for-performance for teachers, itdoes not seem unreasonable to suggest that the same principles should apply to schoolcorporations. If ineffective teachers are ineligible for pay raises, it seems illogical to continuepay raises for ineffective school corporations. After twenty years in the funding formula, theComplexity Index should be closely examined to determine if it has produced the desiredresults. Possible improvements to the funding formula would be to move back to a broader setof measures or perhaps a different set of metrics for complexity within the index itself. Theinfluence of this variable could also be reduced either through a different weighting in theformula or by moving it out of the tuition support calculation into the categoricals.

The ADM variable, which admittedly has the least effect on total funding, should be restructured.It is counterproductive to its stated goal of promoting efficiency and consolidation. At the veryleast, it should be modified so that it no longer acts as a growth penalty for school corporationswith enrollments greater than 1,000. The best option for the future is probably to simply drop thisfactor from the funding formula altogether, and add the equivalent dollars back into the base.These dollars would then go to school corporations in proportion to their ADM’s and thus havemost of its originally intended effect.

A number of other ideas are now getting some mention in the press as the calendar movescloser to the next session of the legislature. One that is particularly welcome is the proposedlegislation announced by Senator Brandt Hershman which would provide additional funding toschool corporations for high achievement on ISTEP. This is essentially a merit pay concept thatis in harmony with the overall move for greater school accountability. As we move forward withnew teacher evaluation processes that establish their compensation on the basis of theirperformance, it is highly appropriate to mirror that at the school corporation level. Wewholeheartedly endorse this idea and deeply appreciate Senator Hershman’s efforts to bringthis to reality in the statehouse.

Finally, we believe that the move to get all schools to a one-size-fits-all Foundation amount, intheory, is a laudable goal. If the issues with the Complexity Index can be addressed, and if thebase is adequate, we would welcome a level playing field that funds all school corporations on aconsistent and equitable basis. Particularly if the system then evaluates them on the basis oftheir educational results using the resources they have.


Department of Education June 2012

Office of School Finance

AN OVERVIEW OF

2013 STATE TUITION SUPPORT

Description of the 2013 School Tuition Support Formula

The Indiana General Assembly revisits the school distribution formula in its budget making sessions, on odd

years. The 2011 session was a budget making session and the General Assembly enacted legislation to

enumerate the formula and its various components and provide appropriations for the 2011-2012 and 2012-

2013 state fiscal years. Due to the fact that the formulae for each of these two fiscal years build from previous

year data, the narrative that follows reflects the formula for both those years.

Public Law 144-2012 (HEA 1189-2012) expires the state tuition support funding formula on July 1, 2013.

TOTAL TUITION SUPPORT

The following summary includes the total tuition support for 2012 and 2013 calendar years is the addition of

these components for each school corporation, charter school, and virtual charter schools as they apply.

Tuition Support

Honors Diploma Grant

Special Education Grant

Career and Technical Education Grant

Prime Time Grant

TUITION SUPPORT

Tuition support is the total of five different calculations and includes tuition support, honors diploma grant,

special education, career and technical education, and prime time. Each school corporation, charter school,

and virtual charter school receives tuition support based on the applicable variables described below.

Accordingly, it is not possible to provide examples of these calculations applicable to school corporations,

charter schools and the virtual charter school. Further, input variables are subject to change due to

modifications in student count variables, or reductions made by the Department of Education required by

statute to preclude overspending either the fiscal year appropriation, calendar year cap, or a state ordered

reduction. At the end of the Tuition Support section is a discussion pertaining to the year end cap and a state

ordered reduction.

In its simplest form, the tuition support formula determines the gross amount of state revenue for each school

corporation, charter school, and virtual charter school.

PREVIOUS YEAR REVENUE

Selected state revenues establish a revenue base to determine the ensuing years funding. In 2012, the State

Tuition Support worksheet page 3, Previous year Revenue, reflects the 2011 Basic Tuition Support (pulled

from DOE SA54 Tuition Support, First Column less the 2011 funding reduction) plus the 2011 Restoration

Grant and Small Schools Grant, if applicable. In 2013, the State Tuition Support worksheet page 3, Previous

Year Revenue, reflects the 2012 Basic Tuition Support actually received (pulled from DOE SA54 Tuition

Support, First Column). Unless otherwise specified all calculations are round to two places.


OVERVIEW OF STATE TUITION SUPPORT, PAGE 2

Charter schools in the first year of operation outside of Marion County are funded based on the school

corporation where the charter school is located and do not have a previous year revenue. Charter schools in

the first year of operation in Marion County use a weighted average of the funding from the corporation where

the student has legal residency.

ADJUSTED ADM FOR 2011-2012 and 2012-2013

Beginning in 2012 and continuing for calendar year 2013, adjusted ADM is a school corporation and charter

school’s actual ADM.

TRANSITION TO FOUNDATION REVENUE

The transition to foundation revenue calculation determines the total state dollars generated by the formula,

excluding categorical funding for honors grant, special education, career and technical education, and prime

time. A calculation is made to determine the foundation amount per pupil for each individual school

corporation and charter school. Additionally, a foundation amount is calculated for virtual charter schools as

part of determining the foundation amount used in the calculation of a virtual charter school’s tuition support.

A charter school in the first year of operation in 2013 that is located outside Marion County uses the

Foundation Amount per ADM for the school corporation in which the charter school is located to compute

total tuition support revenue. For Marion County charters, in the first year of operation for 2013, it is a

weighted average of the funding from the school corporation where the student resides.

Transition to Foundation Revenue Calculation: A calculation is made to determine the transition to foundation

amount per pupil for each individual school corporation and charter school by calculating a complexity index, a

Foundation Funding amount, and the transition to foundation per ADM. Transition to Foundation Revenue is

defined as the per pupil Foundation Funding Amount as determined in Part Two multiplied by the 2011-2012

Adjusted ADM to determine tuition support for 2012 and by the 2012-2013 adjusted ADM to determine tuition

support for 2013.

The calculation considers:

o The complexity index

o Previous year revenue per adjusted ADM

o The relationship between the previous year revenue per adjusted ADM and the State

foundation amount multiplied by the complexity index.

Adjusted Complexity Index: The complexity index is determined according to the following criteria and is the

sum of the following calculation plus 1:

For 2012, the percentage of the school corporations’ students eligible for free or reduced lunch in the 2010-2011

school year is multiplied by .4974 ($2,129/$4,280) and this result is rounded to four places and cannot be less than

zero. For 2013, the 2010-2011 free or reduced lunch data is multiplied by .4972 ($2,190/$4,405). If the result of

the addition is equal to or greater than 1.28 in 2011-2012, it is adjusted by subtracting 1.28 from the above result

and adding back the difference in 2012. If the result of the addition is equal to or greater than 1.31 in 2012-2013, it

is adjusted by subtracting 1.31 from the above result and adding back in the difference in 2013.

Transition to Foundation Calculation: A school corporation, based on individual corporation data, will either

be above, below, or at their foundation funding. School corporations who are considered to be at or below

foundation the previous year are placed at foundation. The foundation amount is multiplied by the number of

students to calculate basic tuition support.



Foundation Funding is defined as the complexity index of the school corporation or charter school multiplied by

the foundation amount as determined in statute as passed by the General Assembly. Remember, the foundation

amount reflects per adjusted pupil funding. For 2012, the foundation amount is $4,280. In 2013, the foundation

amount is $4,405 per pupil.

For 2012, schools may also receive a target adjustment based on ADM. If a schools’ ADM is less than 500, then

the adjustment is 0. If a schools’ ADM is between 500 and 1,000, the adjustment is $150; and if a schools’ ADM

is greater than 1,000, the adjustment is $150,000/2011-2012 ADM. For 2013, the adjustment level is the same.

The result of this is added to the previous line to determine the foundation amount.

The school formula determines if a school corporation or charter school is above, below, or at their Foundation

Funding amount by subtracting the previous year revenue per adjusted ADM from the Foundation Funding. The

transition to foundation is a transition from the previous year’s revenue down to the foundation amount. The base

amount is the lesser of the previous year revenue per student or the foundation amount increased by twenty percent

(20%). To transition down to foundation, the formula subtracts from the base amount by dividing by 1/7 of the

difference between the base amount and the foundation amount. That amount is then multiplied by the number of

students for 2011-2012 to calculate a schools’ basic tuition support. To transition down to foundation in 2013, the

formula subtracts from the base amount by dividing by 1/6 of the difference between the base and the foundation

amount. That amount is then multiplied by the number of students for 2012-2013 to calculate a schools’ basic

tuition support.

A charter school that is in its first year of operation outside of Marion County in 2012 or 2013 uses the Transition

to Foundation per ADM of the school corporation in which it is located to compute the Transition to Foundation

Revenue. A charter school that is in its first year of operation in Marion County in 2012 or 2013 uses the sum of

the weighted average of the Transition to Foundation per ADM determined for the school corporations in which

the students have legal settlement to compute the Transition to Foundation Revenue. The final calculated revenue

of this section is referred to as Basic Tuition Support.

VIRTUAL CHARTER SCHOOLS

Virtual Charter Schools are funded at 87.5% of the school’s foundation amount multiplied by the Virtual Charter

school’s 2011-2012 ADM for 2012 and the school’s 2012-2013 ADM for 2013. In order to determine the

foundation amount, virtual charter schools must complete lines 1-7 of Section C of the funding formula.

HONORS GRANT

Each school corporation and charter school is eligible to receive $900 for each student who received an

academic honors diploma as well as those students who received a Core 40 diploma with technical honors in

school year 2010-2011 for 2012 funding and in school year 2011-2012 for 2013 funding.

SPECIAL EDUCATION GRANT

School corporations and charter schools are entitled to receive a grant for special education programs. The

grant is based on a count of students who are enrolled in special education programs on December 1 of the

preceding calendar year. The enrollment of December 1, 2011 is used in the 2012 funding formula and the

enrollment of December 1, 2012 is used in the 2013 funding formula. Additionally virtual charter schools are

eligible to receive special education funding in both 2012 and 2013 using the same formula as school

corporations and charter schools.



The grant is the sum of multiplying the count of enrolled students by the following:

$8,350 multiplied by the unduplicated count of students with severe disabilities.

$2,265 multiplied by the unduplicated count of students with mild and moderate disabilities.

$533 multiplied by the duplicated count of students with communication disorders.

$533 multiplied by the duplicated count of pupils in homebound programs.

$2,750 multiplied by the special preschool education program pupil count.

The same per pupil program dollar amounts are used for both 2012 and 2013.

CAREER & TECHNICAL EDUCATION GRANT

The distribution of career & technical education monies is based on labor market demand and wage data

calculated according to the following table. School corporations and charter schools are eligible to receive a

vocational education grant. Students enrolled in these categories must be enrolled and attending the school

corporation and be counted in the school corporation ADM. For 2013, the fall 2012 program enrollment data

are used to calculate the grant. Information needed for the fall 2012 program enrollment data will be collected

through the INTERS system at the Department of Workforce Development. The fall 2011 program enrollment

data are used for 2012 funding. All calculations are rounded to the nearest dollar.

The calculation is the number of students enrolled in career and technical education programs that are

addressing employment demand for individuals in labor market categories that are projected to need a:

1. More than Moderate Labor Market Need and High Wage/$450 per student credit hour multiplied by the

number of hours (up to three hours); plus

2. More than Moderate Labor Market Need and Moderate Wage/$375 per student credit hour multiplied by

the number of students in this category; plus

3. More than Moderate Labor Market Need and Less than Moderate Wage/$300 per student credit hour

multiplied by the number of students in this category; plus

4. Moderate Labor Market Need and High Wage/$375 per student credit hour multiplied by the number of

students in this category; plus

5. Moderate Labor Market Need and Moderate Wage/$300 per student credit hour multiplied by the number

of students in this category; plus

6. Moderate Labor Market Need and Less than Moderate Wage/$225 per student credit hour multiplied by the

number of students in this category; plus

7. Less than Moderate Labor Market Need and High Wage/$300 per student credit hour multiplied by the


8. Less than Moderate Labor Market Need and Moderate Wage/$225 per student credit hour multiplied by the


9. Less than Moderate Labor Market Need and Less than Moderate Wage/$150 per student credit hour

multiplied by the number of students in this category; plus

10. All Other Vocational Education Programs/$250 per student multiplied by the number of students in this

category; plus

11. Area Participation/$150 per student multiplied by the number of students.

Area Participation funding is for students participating in a vocational education program in which students

from multiple schools are served in the same classroom at a common location. This does not include students

served in programs that meet for one class period a day.



The total career & technical education grant is the sum of the dollar amounts calculated under steps one

through eleven. The Indiana Department of Workforce Development defines the areas of job demand

annually. If a school corporation feels the determined job demand categorization is not representative of their

area, that school corporation may petition the Department of Workforce Development for re-categorization.

PRIME TIME GRANT

All school corporations and charter schools are eligible to receive a Prime Time Grant. This grant is paid on

the basis of a Target Pupil/Teacher Ratio calculated for each school corporation or charter school. This ratio

can range from 18 pupils per teacher to 15 pupils per teacher, depending on the school corporation or charter

school Complexity Index. The 2011 Complexity Index is used for the calculation in 2012 and the 2012

Complexity Index is used for the calculation in 2013. The Adjusted Complexity Index for a charter school in

the 2012 and 2013 funding formula is based on the percentage of free or reduced lunch counts from the 2010-

2011 school year for the charter. For a first year charter, the percentage of free or reduced lunch is the index

of the school corporation in which the charter school is located for the first year of operation. The first

calculation is to determine the applicable Target Pupil/Teacher Ratio.

If the Complexity Index is equal to or greater than 1.1, but less than 1.3, subtract the Complexity Index

from 1.3, divide that result by .2, multiply the quotient by 3 and add 15. This is the target pupil/teacher

ratio.

If the Complexity Index is less than 1.1, the target pupil/teacher ratio is 18.

If the Complexity Index is equal to or greater than 1.3, the target pupil/teacher ratio is 15.

For 2012, divide the 2011-2012 Grade K-3 ADM by the appropriate pupil/teacher ratio. Round to four places.

For 2013, divide the 2012-2013 Grade K-3 ADM by the appropriate pupil/teacher ratio. Round to four (4)

places. This calculation determines a teacher equivalency needed to meet the target pupil/teacher ratio.

For 2012, multiply the applicable 2012 tuition support amount by .75 and divide by the 2011-2012 ADM. For

2013, multiply the applicable 2013 tuition support by .75 and divide by the 2012-2013 ADM. Round to two

(2) places. This result is multiplied by the applicable year (2011-2012 or 2012-2013) Grade K-3 ADM.

Divide this result by $74,500, rounded to two (2) places, and subtract the amount from the result of the

division of the 2011-2012 Grade K-3 ADM by the appropriate pupil/teacher ratio. Round this value to two (2)

decimal places. This calculation cannot be less than zero (0). This represents the number of Grade K-3

teachers that are funded through the Prime Time calculation. This result is multiplied by $74,500, and

rounded to two (2) decimal places. The result is compared to fifty percent (50%) of the 1999 Prime Time

Grant amount, if applicable, or the First Program Year Grant amount, if applicable. For 2013, the previous

step will be compared to zero due to the phase-out of the 1999 prime time guarantee. The greater of these

dollar values is compared to the 2011 (for 2012) or 2012 (for 2013) Prime Time Grant multiplied by 1.075%

then rounded to two (2) places. The 2012 or 2013 Prime Time Grant is the lesser of these two values.

STATE TUITION SUPPORT

The total State Tuition Support for the 2012 and 2013 calendar years is the addition of these components for

each school corporation and charter school as they apply:

Basic Tuition Support

Honors Diploma Grant

Special Education Grant

Career & Technical Education Grant

Prime Time Grant Working Document - 2013 Budget - Page 20

05/29/12

Indiana Department of Education

Office of School Finance

151 W. Ohio Street - Indianapolis, IN 46204-2798

Telephone: 317-232-0840

Facsimile: 317-232-0504

2013 STATE TUITION SUPPORT WORKSHEET

Public Law 144-2012 (HEA 1189-2012) expires the state tuition support funding formula on July 1, 2013. This is the Department’s best

estimate of calendar year 2013 tuition support funding based on information known today.

Final May 2012

Unless otherwise noted, all calculations round to 2 places.

Corporation # _______ School Corporation/Charter School Name______________________________

2012 Basic Tuition Support (DOE SA54 Tuition Support, First column) $________________

2012 Honors Diploma Grant $________________

2012 Special Education Grant $________________

2012 Career and Technical Education Grant $________________

2012 Prime Time Grant $________________

2011-2012 ADM _________________

2012-2013 ADM _________________

2012-2013 K-3 ADM _________________

Number of students who received an academic honors diploma

in the 2011-2012 school year _________________

Number of students who received a Core 40 diploma with technical

honors in the 2011-2012 school year _________________

Percent of Students Eligible for Free and Reduced Lunch in 2010-2011

(non-census) _________________

2012-2013 Special Education Severe Disabilities Pupil Count _________________

2012-2013 Special Education Mild and Moderate Disabilities Pupil Count _________________

2012-2013 Special Education Communication and Homebound Pupil Count _________________

2012-2013 Special Education Preschool Count _________________

2013 Amount of allowable expenditures for utility services and

and property and casualty insurance (same amount as 2012) _________________


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2013 STATE TUITION SUPPORT WORKSHEET Page 2

2012-2013 Career and Technical Education Total Student Credit Hours

More than Moderate Labor Market Need/High Wage _________________

More Than Moderate Labor Market Need/Moderate Wage _________________

More Than Moderate Labor Market Need/Less than Moderate Wage _________________

Moderate Labor Market Need/High Wage _________________

Moderate Labor Market Need/Moderate Wage _________________

Moderate Labor Market Need/Less than Moderate Wage _________________

Less Than Moderate Labor Market Need/High Wage _________________

Less Than Moderate Labor Market Need/Moderate Wage _________________

Less Than Moderate Labor Market Need/Less than Moderate Wage _________________

Total Area Participation Student Count _________________

Student Count for All Other Approved Career and Technical Education Programs _________________


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SECTION A PREVIOUS YEAR REVENUE

IC 20-43-3-4 Section A applies to school corporations and charter schools. Does not apply to virtual charter schools.


1. 2012 Basic Tuition Support (DOE SA54 Tuition Support) $__________________

Previous Year Revenue

SECTION B Adjusted 2012-2013 ADM

IC 20-43-4-7

Section B applies to school corporations, charter schools and virtual charter schools.

1. Actual 2011-2012 ADM __________________

2011-2012 Adj. ADM

2. Actual 2012-2013 ADM __________________

2012-2013 Adj. ADM

Note: For 2011-2012 and 2012-2013, the actual ADM is the Adjusted ADM.

SECTION C TRANSITION TO FOUNDATION REVENUE

IC 20-43-5-3 thru 7; IC 20-43-6-3

Section C applies to school corporations, charter schools and virtual charter schools

If the calculation is for a school corporation or a charter school beyond the first year of operation, complete

all lines.

If the calculation is for a charter school in the first year of operation that is not located in Marion County,

lines 8- 12 do not apply. The Line 13 amount is the Line 13 for the school corporation where the charter

school is located. Complete line 14.

If the calculation is for a charter school in the first year of operation that is located in Marion County, lines

8-13 do not apply. The Line 14 amount is the weighted average of the Line 13 amounts of the school

corporation where the student resides.

Charter Schools must complete Lines 1-7. Virtual Charter Schools complete Lines 1-7 and Section C1.


Foundation Calculation

All calculations on lines 1-4 are rounded 4 places

1. _________________ multiplied by .4972 ($2,190 / $4,405 = .4972) ___________________

Percentage of school corporation’s students eligible round 4 places

for free or reduced lunch in the 2010-2011 school year (rounded 4 places) not less than zero

2. ________________ plus 1 __________________

Line 1 Amount


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If the line 2 result is equal to or greater than 1.31, complete line 3 and the applicable remaining lines in Section C.

If the line 2 result is less than 1.31, omit line 3 and move line 2 amount to line 4.

3. ________________ minus 1.31 _________________

Line 2 Amount (not less than zero)

4. ________________ plus __________________ _________________

Line 2 Amount Line 3 Amount Complexity Index

Unless otherwise noted, all calculations in the remainder of this section are rounded to 2 places.

5. _________________ multiplied by $4,405 $_________________

Line 4 Amount

6. Target Adjustment

If the 2012-2013 ADM < 500, 0

If the 2012-2013 ADM between 500 and 1,000, $150

If the 2012-2013 ADM greater than 1,000, $150,000 divided by 2012-2013 ADM __________________

7. _____________ plus _______________ __________________

Line 5 Line 6 School Foundation

Amount

8. _____________________________ multiplied by 1.2 $________________

School Foundation Amount Line 7

9. ______________________ divided by __________________________ $________________

Prev. Year Revenue, 2011-2012 Adj. ADM Previous Yr. Rev.

Section A, Line 1 Section B, Line 1 per Adjusted ADM

10. Lesser of Line 8 or Line 9 $________________

11. _________________ minus _________________ __________________

School Foundation Line 10 Amount may be negative

Amount Line 7 Unadjusted Amt Remaining

to Target Revenue Amount

Transition to Foundation Calculation

I.C. 20-43-5-6

If the Line 11 Amount is less than $0, complete Line 12A below.

If the Line 11 Amount is greater than or equal to $0, complete Line 12B below.

12A. If the Line 11 Amount is less than $0

1. _____________________ divided by 6 $_________________

Absolute value of Line 11

2. ___________________ minus _________________ $_________________

Line 10 Amount Line 12A(1) Amount Line 12A(2) Amount


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12B. If the Line 11 amount is greater than or equal to $0 $________________

Line 7 Amount

13. Select: 2013 Transition to Foundation per Adjusted ADM $________________

Section C, Line 12(A)(2) if applicable

Section C, Line 12(B) if applicable

14. _________________ multiplied by ______________________ $________________

Line 13 Amount 2012-2013 Adj. ADM 2013 Basic Tuition

(Section B, Line 2) Support (Round to

Whole Dollars)

SECTION C1 VIRTUAL CHARTER SCHOOLS

I.C. 20-24-7-13

To be completed by Virtual Charter Schools only.

1. ___________________________ multiplied by 87.5% $__________________ School Foundation Amt (Sec. C, Line 7)

2. ___________ multiplied by ___________________________ $__________________

Line 1 amount 2012-2013 Virtual Charter ADM

SECTION D HONORS DIPLOMA GRANT

IC 20-43-10-1 and 2

Section D applies to school corporations and charter schools and does not apply to virtual charter schools.


(Use unduplicated honors counts)

1. ________________ multiplied by $900 $____________

Number of students who

received an academic honors

diploma in 2011-2012 school year

2. ________________ multiplied by $900 $____________

Number of students who received

Core 40 diploma with technical honors in

2011-2012 school year

3. Sum of line 1 plus line 2 $_________________


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SECTION E SPECIAL EDUCATION GRANT

IC 20-43-7-6

Section E applies to school corporations, charter schools, and virtual charter schools.


1. $8,350 multiplied by ______________________________ $__________________

2012-2013 Severe Disabilities Pupil Count

2. $2,265 multiplied by ___________________________ $__________________

2012-2013 Mild and Moderate

Disabilities Pupil Count

3. $533 multiplied by ____________________________ $__________________

2012-2013 Communication and

Homebound Pupil Count

4. $2,750 multiplied by ____________________________ $__________________

2012-2013 Special Education Preschool

Program Pupil Count

5. 2013 Special Education Grant

Add Lines 1, 2, 3, and 4 $__________________

SECTION F CAREER AND TECHNICAL EDUCATION GRANT

IC 20-43-8-2 and IC 20-43-8-9

Section F applies to school corporations and charter schools and does not apply to virtual charter schools.


1. More Than Moderate Labor Market Need/High Wage

________________ multiplied by $450 $______________

Total Student Credit Hours

2. More Than Moderate Labor Market Need/Moderate Wage

________________ multiplied by $375 $______________


3. More Than Moderate Labor Market Need/Less than Moderate Wage

________________ multiplied by $300 $______________


4. Total Funding More than Moderate Labor Market Need $______________

5. Moderate Labor Market Need/High Wage

_____________ multiplied by $375 $______________


6. Moderate Labor Market Need/Moderate Wage

________________ multiplied by $300 $______________



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7. Moderate Labor Market Need/Less Than Moderate Wage

_______________________ multiplied by $225 $______________


8. Total Funding Moderate Labor Market Need $______________

9. Less Than Moderate Labor Market Need/High Wage

________________ multiplied by $300 $______________


10. Less Than Moderate Labor Market Need/Moderate Wage

_______________ multiplied by $225 $______________


11. Less than Moderate Labor Market Need/Less Than Moderate Wage

______________________ multiplied by $150 $______________


12. Total Funding Less Than Moderate Labor Market Need $______________

13. Area participation count

_________________ multiplied by $150 $______________

14. All Other Career and Technical Education Programs

________________ multiplied by $250 $______________

Student Count

15. 2013 Career and Technical Education Grant $______________

Add Lines 4, 8, 12, 13, and 14

SECTION G PRIME TIME

IC 20-43-9

Section G applies to school corporations and charter schools and does not apply to virtual charter schools.


1. Complexity Index __________________

Section C, Line 4 round to four places

If the Complexity Index is greater than or equal to 1.1 and less than 1.3 complete lines 2 through 5,

otherwise continue calculation on line 6.

2. 1.3 minus ________________________ __________________

Adjusted Complexity Index round to four places

Line 1 Amount

3. ______________ divided by 0.2 __________________

Line 2 Amount round to four places

4. ______________ multiplied by 3 __________________



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5. ______________ plus 15 __________________


ADJUSTED TARGET

COMPLEXITY INDEX PUPIL/TEACHER RATIO less than 1.1 18:1

greater than or equal to 1.1

and less than 1.3 Line 5 Amount

equal to or greater than 1.3 15:1

6. Select Target Pupil/Teacher Ratio from Chart above __________________

7. 2012-2013 Grade K-3 ADM __________________

8. ________________ divided by ______________________ __________________

Line 7 Amount Target Pupil/Teacher Ratio (round to four places)

Line 6 Amount

9. _______________ multiplied by .75 = __________divided by ___________ $_________________

Section C Line 14 2012-2013 ADM

10. ______________ multiplied by _____________ $_________________

Line 9 Amount Line 7 Amount

11. ______________ divided by $74,500 $_________________

Line 10 Amount

12.______________ minus ______________ $_________________

Line 8 Amount Line 11 Amount round to four places not less than zero

13.______________ multiplied by $74,500 $_________________

Line 12 Amount

14. Greater of ___________________ or zero $_________________

Line 13

15. ___________________ multiplied by 1.075 (107.5%) $_________________

2012 Prime Time Amount

Charter schools: If the line 15 amount is zero move the line 13 amount to line 16.

16. Lesser of Line 14 or Line 15 $___________________

2013 Prime Time Grant


05/29/12


SECTION H IC 20-40-8-19

CALCULATION OF ALLOWABLE EXPENDITURES FROM THE 2013 CAPITAL PROJECTS FUND

FOR UTILITY SERVICES AND PROPERTY AND CASUALTY INSURANCE

The Calculation of Expenditures from the 2013 Capital Projects Fund applies to school corporations.

The Section M Line 9 amount from the 2007 worksheet is the allowable expenditure from the 2013 CPF for utility

services and property and casualty insurance. Expenditures for utility services from the CPF will be charged to

account number 26200 using objects 621, 622, 623, 624, 411, 625, 626, 412, and 419 and expenditures for property

and casualty insurance from CPF will be charged to account 26700 using object 520 and when totaled will not

exceed the Section M Line 9 amount from the 2007 worksheet. The maximum 2013 amount is three and five-tenths

(3.5%) of the school corporation’s 2005 calendar year distribution. Amount ___________________________

Remember to advertise and adopt a Capital Projects Fund budget, rate, and levy that are sufficient for an

adjustment to the rate cap for utilities and property and casualty insurance.

SECTION I

2013 STATE TUITION SUPPORT

1. Basic Tuition Support $______________

Section C, Line 14 or

Section C1, Line 2 (Virtual Charter School)

2. Honors Diploma Grant $______________

Section D, Line 3

3. Special Education Grant $______________

Section E, Line 5

4. Career and Technical Education $______________

Section F, Line 15

5. Prime Time Grant $______________

Section G, Line 16

6. TOTAL FUNDING $______________

Add Lines 1, 2, 3, 4, and 5


05/29/12


SECTION J

FUNDING COMPARISON

The Funding Comparison applies to school corporations and charter schools.

2012 2013 Funding

State Support Inc/Dec Pct

1. Basic Tuition Support $______________ $______________

DOE SA54 Section C, Line 14

a. Virtual Charter Schools $ _____________ $______________

DOE SA54 Section C1, Line 2

2. Honors Diploma Grant $______________ $______________

DOE SA54 Section D, Line 3

3. Special Education Grant $______________ $______________

DOE SA54 Section E, Line 5

4. Career and Technical Education $______________ $______________

DOE SA54 Section F, Line 15

5. Prime Time Grant $______________ $______________

DOE SA54 Section G, Line 16

6. Total Funding $______________ $______________ _________ _____

Add Lines 1, 2, 3, 4, and 5


05/29/12

2013 BASIC GRANT WORKSHEET Page 11

APPENDIX A

TRANSITION TO FOUNDATION CALCULATION

This section applies to charter schools in the first year of operation located in Marion County.

Use a weighted average of the Section C Line 13 amounts from each school corporation where the charter

school students have legal settlement as determined below.

School Corporation # 1 -

1. _______________ multiplied by ______________ $__________________

Section C Line 13 Amount 2012-2013 ADM

of students’ legal settlement of Charter School Students from

Section C Line 13 school corporation


2. _______________ multiplied by ______________ $__________________





3. _______________ multiplied by ______________ $__________________





4. _______________ multiplied by ______________ $__________________





5. _______________ multiplied by ______________ $__________________





6. _______________ multiplied by ______________ $__________________




School Corporation #7-

7. _______________ multiplied by ______________ $__________________





8. _______________ multiplied by ______________ $__________________





05/29/12

2013 BASIC GRANT WORKSHEET Page 12


9. _______________ multiplied by ______________ $__________________





10. _______________ multiplied by ______________ $__________________





11. _______________ multiplied by ______________ $__________________





12. _______________ multiplied by ______________ $__________________





13. _______________ multiplied by ______________ $__________________





14. _______________ multiplied by ______________ $__________________





15. _______________ multiplied by ______________ $__________________





16. _______________ multiplied by ______________ $__________________




17. Add lines 1 through 16 $__________________


Section 3

BUDGET ESTIMATE FOR

0630 - ZIONSVILLE COMMUNITY SCHOOL CORPORATION0101 - GENERAL

06 - Boone County2013

Selected Unit:Selected Fund:

Selected County:Selected Year:

Selected Department: 1100 - Regular Programs

1. Personal Services

Line Item Code Description Published Amount Adopted Amount

Elementary Benefits $1,918,870

Middle School Benefits $1,332,746

High School Benefits $1,477,759

Totals $4,729,375

Employee Benefits


Elementary Salaries and Wages $5,394,771

Middle School Salaries and Wages $3,953,540

High School Salaries and Wages $4,239,194

Totals $13,587,505

Salaries and Wages

Personal Services Totals $18,316,880 $0


Elementary Supplies $100,000

Middle School Supplies $40,000

High School Supplies $75,000

Totals $215,000

Other Supplies

Supplies Totals $215,000 $0

2. Supplies


Elementary $1,000

Middle School $1,000

Other Services and Charges

3. Services and Charges

Prescribed by the Department of Local Government Finance Approved by the State Board of Accounts

Budget Form No. 1 (Rev. 2011)


Capital Outlays Totals

4. Capital Outlays

High School $1,000

Totals $3,000

Services and Charges Totals $3,000 $0


BUDGET ESTIMATE FOR





Selected Department: 1200 - Special Programs



Special Ed Benefits $914,595

Spec Ed Preschool Benefits $54,687

Totals $969,282

Employee Benefits


Special Ed Salaries and Wages $2,644,477

Spec Ed Preschool Salaries $156,431

Totals $2,800,908

Salaries and Wages



Special Ed Supplies $24,500

Special Ed Preschool Supplies $5,000

Totals $29,500

Other Supplies


2. Supplies


Spec Ed Services $127,000

Spec Ed Preschool Services $60,000

Totals $187,000

Professional Services





4. Capital Outlays


Spec Ed - Other Srvcs $10,000

Spec Ed Preschool - Other Srvcs $2,500

Totals $12,500



BUDGET ESTIMATE FOR





Selected Department: 1400 - Summer School Programs


Personal Services Totals

Supplies Totals

2. Supplies


4. Capital Outlays


Summer School Contract Srvcs $155,000

Totals $155,000





BUDGET ESTIMATE FOR





Selected Department: 1600 - Remediation Programs



Remediation Benefits $4,180

Totals $4,180

Employee Benefits


Remediation Salaries and Wages $51,000

Totals $51,000

Salaries and Wages

Personal Services Totals $55,180 $0


Remediation Supplies $500

Remediation Testing Materials $50,000

Totals $50,500

Other Supplies


2. Supplies


4. Capital Outlays

Services and Charges Totals



BUDGET ESTIMATE FOR





Selected Department: 1700 - Payments to Other Governmental Units within the State



Supplies Totals

2. Supplies


4. Capital Outlays


Transfer Tuition $25,000

Vocational Ed Co-Op $120,000

Special Ed Co-Op $675,000

Joint Srvce and Supply Co-Op $37,500

Charter Schools $5,000

Totals $862,500





BUDGET ESTIMATE FOR





Selected Department: 2100 - Support Services-Students



Guidance Benefits $444,935

Spec Ed Service Area Direction Benefits $59,058

Totals $503,993

Employee Benefits


Guidance Salaries and Wages $1,130,570

Spec Ed Service Area Direction Salaries $172,417

Totals $1,302,987

Salaries and Wages



Nursing Supplies $12,500

Totals $12,500

Other Supplies


2. Supplies

4. Capital Outlays


School Nursing Services $375,000

Athletic Trainer Services $32,500

Speech and Hearing Srvcs $1,500

Totals $409,000







BUDGET ESTIMATE FOR





Selected Department: 2200 - Support Services-Instruction



Improvement of Instruction $4,410

Media Benefits $85,237

Totals $89,647

Employee Benefits


Improvement of Instruction $45,000

Media Salaries $382,374

Totals $427,374

Salaries and Wages



Improv of Instr Supplies $1,500

Totals $1,500

Other Supplies


School Library Books $97,500

Totals $97,500

Other Supplies


2. Supplies


Improv of Inst $2,500

Totals $2,500





4. Capital Outlays


Improv of Instruc $37,500

Totals $37,500




BUDGET ESTIMATE FOR





Selected Department: 2300 - Support Services-General Administration



Board Member FICA $612

Office of Supt Benefits $214,813

Totals $215,425

Employee Benefits


Board Member Comp $8,000

Office of Supt $316,279

Totals $324,279

Salaries and Wages



Office of Supt $7,500

Totals $7,500

Office Supplies


2. Supplies


Legal Services $80,000

Other Prof Srvcs - Central Office $25,000

Totals $105,000



Legal Advertising $4,500

Totals $4,500

Printing and Advertising




4. Capital Outlays


Central Office $12,319

Totals $12,319




BUDGET ESTIMATE FOR





Selected Department: 2400 - Support Services-School Administration



Bldg Admin and Clerical Benefits $856,146

Totals $856,146

Employee Benefits


Principals and Building Admin Salaries $1,656,237

Building Clerical and Secretaries Salaries $500,000

Totals $2,156,237

Salaries and Wages


Supplies Totals

2. Supplies


4. Capital Outlays


Building Level Prof Srvcs $500

Totals $500



Other Charges $500

Totals $500





BUDGET ESTIMATE FOR





Selected Department: 2500 - Central Office



Business Dept Benefits $113,034

H.R. Dept. Benefits $71,853

Totals $184,887

Employee Benefits


Business Dept Salaries $360,164

H.R. Dept. Salaries $230,302

Totals $590,466

Salaries and Wages



Business Dept Office Supplies $15,000

H.R. Dept Office Supplies $2,500

Totals $17,500

Office Supplies


Bulk Purchases $60,000

Totals $60,000

Other Supplies


2. Supplies


H.R. Dept. Professional Services $7,500

Totals $7,500


Communication and Transportation




4. Capital Outlays


Business Dept. $4,500

H. R. Dept. $1,500

Totals $6,000


Postage and Bank Fees $17,500

Refunds $10,000

Totals $27,500




BUDGET ESTIMATE FOR





Selected Department: 2620 - Maintenance of Buildings



Maint of Bldgs Benefits $227,800

Totals $227,800

Employee Benefits


Maint of Bldgs Salaries and Wages $571,293

Totals $571,293

Salaries and Wages



Maint of Bldgs $160,000

Totals $160,000

Repair and Maintenance Supplies


2. Supplies

4. Capital Outlays


Utilities $1,014,155

Totals $1,014,155

Utility Services


Contract Cleaning $1,800,000

Totals $1,800,000

Repairs and Maintenance

Services and Charges Totals $2,814,155 $0





BUDGET ESTIMATE FOR





Selected Department: 2630 - Maintenance of Grounds




Maint of Grounds $20,000

Totals $20,000



2. Supplies

Capital Outlays Totals $5,000 $0


Grounds Equipment $5,000

Totals $5,000

Machinery, Furniture and Equipment

4. Capital Outlays


Maint of Grounds $5,500

Totals $5,500





BUDGET ESTIMATE FOR





Selected Department: 2640 - Maintenance of Equipment




Maint of Equip $32,500

Totals $32,500



2. Supplies



Equipment Maint $1,000

Totals $1,000


4. Capital Outlays


Maint of Equip $32,500

Totals $32,500





BUDGET ESTIMATE FOR





Selected Department: 2650 - Vehicle Maintenance (not buses)




Vehicle Maint Supplies $10,000

Totals $10,000



2. Supplies



Vehicles and Equip $40,000

Totals $40,000


4. Capital Outlays


Maint of Vehicles $10,000

Totals $10,000



Other Vehicle Maint $1,000

Totals $1,000





BUDGET ESTIMATE FOR





Selected Department: 2670 - Insurance



Supplies Totals

2. Supplies


4. Capital Outlays


Property and Liability Insurance $40,000

Totals $40,000

Insurance




BUDGET ESTIMATE FOR





Selected Department: 3300 - Community Service Operations



Lay Coaches FICA and WC $35,000

Event Workers Benefits $33,690

Totals $68,690

Employee Benefits


Lay Athletic Coaches Salaries $275,000

Event Workers $260,000

Totals $535,000

Salaries and Wages


Supplies Totals

2. Supplies


4. Capital Outlays


Contract Event Work $50,000

Totals $50,000





Form Signature

This form was electronically signed by Michael Shafer, CFO, on 07/25/2012.

Totals by Unit $75,552,239 $0

Form 1 Totals $35,742,448 $0


BUDGET ESTIMATE FOR

0630 - ZIONSVILLE COMMUNITY SCHOOL CORPORATION0180 - DEBT SERVICE




Selected Department: 5100 - Principal of Debt



Supplies Totals

2. Supplies


4. Capital Outlays






BUDGET ESTIMATE FOR





Selected Department: 5200 - Interest on Debt



Supplies Totals

2. Supplies


4. Capital Outlays




BUDGET ESTIMATE FOR





Selected Department: 5300 - Lease Rental



Supplies Totals

2. Supplies


4. Capital Outlays


Principal $11,285,000

Interest $8,623,000

Totals $19,908,000

Debt Service




BUDGET ESTIMATE FOR





Selected Department: 5400 - Advancements and Obligations



Supplies Totals

2. Supplies


4. Capital Outlays


Temporary Loans $210,468

Totals $210,468

Debt Service




BUDGET ESTIMATE FOR





Selected Department: 5900 - Other Debt Service Obligations



Supplies Totals

2. Supplies


4. Capital Outlays




BUDGET ESTIMATE FOR





Selected Department: 6000 - Non-programmed Costs



Supplies Totals

2. Supplies


4. Capital Outlays


TBR Transfer $75,000

Totals $75,000





Form Signature



Form 1 Totals $20,193,468 $0


BUDGET ESTIMATE FOR

0630 - ZIONSVILLE COMMUNITY SCHOOL CORPORATION0186 - SCHOOL PENSION DEBT




Selected Department: 5100 - Principal of Debt



Supplies Totals

2. Supplies


4. Capital Outlays


Principal $375,000

Totals $375,000

Debt Service






BUDGET ESTIMATE FOR





Selected Department: 5200 - Interest on Debt



Supplies Totals

2. Supplies


4. Capital Outlays


Interest $380,013

Totals $380,013

Debt Service




BUDGET ESTIMATE FOR





Selected Department: 6000 - Non-programmed Costs



Supplies Totals

2. Supplies


4. Capital Outlays




Form Signature



Form 1 Totals $755,013 $0


BUDGET ESTIMATE FOR

0630 - ZIONSVILLE COMMUNITY SCHOOL CORPORATION1214 - CAPITAL PROJECTS (School)




Selected Department: 2200 - Support Services-Instruction



Tech Dept Benefits $379,745

Totals $379,745

Employee Benefits


Tech Dept Salaries $975,255

Totals $975,255

Salaries and Wages


Supplies Totals

2. Supplies


4. Capital Outlays


Professional Development and Training $50,000

Totals $50,000







BUDGET ESTIMATE FOR





Selected Department: 2620 - Maintenance of Buildings



Supplies Totals

2. Supplies



Tech Equip $144,730

Totals $144,730


4. Capital Outlays


District Utilities $650,000

Totals $650,000

Utility Services




BUDGET ESTIMATE FOR





Selected Department: 2640 - Maintenance of Equipment



Supplies Totals

2. Supplies


4. Capital Outlays


Maint, Service Agreements, and Replacements

$410,000

Totals $410,000





BUDGET ESTIMATE FOR





Selected Department: 2670 - Insurance



Supplies Totals

2. Supplies


4. Capital Outlays


Property and Casualty Ins $300,000

Totals $300,000

Insurance




BUDGET ESTIMATE FOR





Selected Department: 2680 - Other Operating and Maintenance of Plant



Supplies Totals

2. Supplies


4. Capital Outlays




BUDGET ESTIMATE FOR





Selected Department: 4100 - Land Acquisition and Development



Supplies Totals

2. Supplies



Acquis and Development $45,000

Totals $45,000

Land

4. Capital Outlays




BUDGET ESTIMATE FOR





Selected Department: 4300 - Professional Services



Supplies Totals

2. Supplies


4. Capital Outlays


Contracted Services $265,000

Totals $265,000





BUDGET ESTIMATE FOR





Selected Department: 4400 - Educational Specifications Development



Supplies Totals

2. Supplies


4. Capital Outlays


Education Spec Dev $45,000

Totals $45,000





BUDGET ESTIMATE FOR





Selected Department: 4510 - Building Acquisition, Construction and Improvement



Supplies Totals

2. Supplies


4. Capital Outlays


Building Repairs and Renovations $1,417,150

Totals $1,417,150





BUDGET ESTIMATE FOR





Selected Department: 4520 - Energy Savings Contracts



Supplies Totals

2. Supplies


4. Capital Outlays


Energy Savings $405,000

Totals $405,000





BUDGET ESTIMATE FOR





Selected Department: 4540 - Sports Facilities



Supplies Totals

2. Supplies


4. Capital Outlays


Sports Facilities Maint $50,000

Totals $50,000





BUDGET ESTIMATE FOR





Selected Department: 4550 - Rent of Building, Facilities, and Equipment



Supplies Totals

2. Supplies


4. Capital Outlays


Temporary Rentals $5,000

Totals $5,000





BUDGET ESTIMATE FOR





Selected Department: 4700 - Purchase of Mobile or Fixed Equipment



Supplies Totals

2. Supplies



Equipment Purchases $767,702

Totals $767,702


4. Capital Outlays




BUDGET ESTIMATE FOR





Selected Department: 4900 - Other Facilitaties Acquisition and Construction



Supplies Totals

2. Supplies


4. Capital Outlays


Emergency Allocation $750,000

Totals $750,000





Form Signature



Form 1 Totals $6,659,582 $0


BUDGET ESTIMATE FOR

0630 - ZIONSVILLE COMMUNITY SCHOOL CORPORATION6301 - TRANSPORTATION




Selected Department: 2700 - Student Transportation



Transportation Employee Benefits $989,710

Totals $989,710

Employee Benefits


Transportation Salaries and Wages $2,291,871

Totals $2,291,871

Salaries and Wages



Transportation Office Supplies $7,500

Totals $7,500

Office Supplies


Vehicle Fuel $465,000

Totals $465,000

Other Supplies


Tires and Vehicle Parts $162,500

Totals $162,500



Shop and Other Supplies $7,500

Totals $7,500

Other Supplies


2. Supplies








Vehicle Maint Equipment $60,000

Totals $60,000


4. Capital Outlays


Contractual Repairs and Services $74,000

Totals $74,000


Vehicle Insurance $115,000

Totals $115,000

Insurance


Trans Center Utilities $56,500

Totals $56,500

Utility Services


Other Services $21,250

Totals $21,250




Form Signature



Form 1 Totals $4,250,831 $0


BUDGET ESTIMATE FOR

0630 - ZIONSVILLE COMMUNITY SCHOOL CORPORATION6302 - BUS REPLACEMENT




Selected Department: 2700 - Student Transportation



Supplies Totals

2. Supplies

Capital Outlays Totals $1,555,356 $0


Purchase of School Buses $1,555,356

Totals $1,555,356

Other Capital Outlays

4. Capital Outlays






Form Signature



Form 1 Totals $1,555,356 $0


BUDGET ESTIMATE FOR

0630 - ZIONSVILLE COMMUNITY SCHOOL CORPORATION0061 - RAINY DAY







Elem Teacher Benefits $175,000

Middle School Teacher Benefits $175,000

Totals $350,000

Employee Benefits


Elementary Teacher Salaries $375,000

Middle School Teacher Salaries $375,000

Totals $750,000

Salaries and Wages


Supplies Totals

2. Supplies


4. Capital Outlays






Form Signature



Form 1 Totals $1,100,000 $0


BUDGET ESTIMATE FOR

0630 - ZIONSVILLE COMMUNITY SCHOOL CORPORATION0021 - REFERENDUM FUND - EXEMPT OPERATING







Elementary $795,314


High School $452,075

Totals $1,725,818

Employee Benefits


Elementary $1,645,047


High School $935,083

Totals $3,569,723

Salaries and Wages


Supplies Totals

2. Supplies


4. Capital Outlays






Form Signature



Form 1 Totals $5,295,541 $0


9999 Totals Columns A & B $17,858,202 $34,698,698

Revenue Code Description July 1 to Dec 31, 2012 Jan 1 to Dec 31, 2013

1510 Interest on Investmens $3,000 $5,000

1742 Other Fees $250,000 $400,000

1760 Receipts from Extra-Curricular Accounts $50,000 $75,000

1910 Rentals $160,000 $325,000

1994 Other Overpayments and Reimbursements

$10,000 $20,000

1999 Other Revenue from Local Sources $262,500 $472,500

Other Receipts Totals $735,500 $1,297,500

OTHER RECEIPTS


3111 Basic Grant $15,918,702 $32,075,878

3114 Summer School $135,000 $145,000

3115 Evening and Part-Time School $10,000 $25,000

3199 Remediation/Preventive Remediation Programs

$15,000 $30,000

3221 Full Day Kindergarten Grant $1,044,000 $1,075,320

3230 Gifted and Talented $25,000

3280 Professional Development Grants $25,000

Intergovernmental Revenue Totals $17,122,702 $33,401,198

INTERGOVERNMENTAL REVENUE: Revenue from State and Federal Sources

No values entered for Taxes.

ESTIMATE OF MISCELLANEOUS REVENUES






Budget Form No. 2(Rev. 2011)


Totals by Unit $18,630,999 $36,398,270

Form Signature



9999 Totals Columns A & B $538,456 $1,025,668

No values entered for Other Receipts.

No values entered for Intergovernmental Revenue.


1211 License Excise Tax $519,334 $992,612

1212 Commercial Vehicle Excise Tax $13,776 $23,782

1231 Financial Institutions Tax $5,346 $9,274

Taxes Totals $538,456 $1,025,668

TAXES








Totals by Unit $18,630,999 $36,203,207

Form Signature



9999 Totals Columns A & B $21,759 $37,393





1212 Commercial Vehicle Excise Tax $557 $867

1231 Financial Institutions Tax $216 $338

Taxes Totals $21,759 $37,393

TAXES








Totals by Unit $18,630,999 $36,203,207

Form Signature





1510 Interest on Investments $2,000 $4,000

Other Receipts Totals $2,000 $4,000

OTHER RECEIPTS





1231 Financial Institutions Tax $1,068 $1,717

Taxes Totals $107,532 $189,882

TAXES








Totals by Unit $18,630,999 $36,203,207

Form Signature









1231 Financial Institutions Tax $899 $1,421

Taxes Totals $88,996 $157,123

TAXES


0630 - ZIONSVILLE COMMUNITY SCHOOL CORPORATION6301 - TRANSPORTATION






Totals by Unit $18,630,999 $36,203,207

Form Signature








1212 Commercial Vehicle Excise Tax $229 $885

1231 Financial Institutions Tax $111 $345

Taxes Totals $11,054 $38,180

TAXES


0630 - ZIONSVILLE COMMUNITY SCHOOL CORPORATION6302 - BUS REPLACEMENT






Totals by Unit $18,630,999 $36,203,207

Form Signature





1510 Interest on Investments $3,000 $6,000

Other Receipts Totals $3,000 $6,000

OTHER RECEIPTS


No values entered for Taxes.


0630 - ZIONSVILLE COMMUNITY SCHOOL CORPORATION0061 - RAINY DAY






Totals by Unit $18,630,999 $36,203,207

Form Signature



9999 Totals Columns A & B $0 $241,326




1211 License Excise Tax $0 $233,548

1212 Commercial Vehicle Excise Tax $0 $5,596

1231 Financial Institutions Tax $0 $2,182

Taxes Totals $0 $241,326

TAXES


0630 - ZIONSVILLE COMMUNITY SCHOOL CORPORATION0021 - REFERENDUM FUND - EXEMPT OPERATING






Totals by Unit $18,630,999 $36,203,207

Form Signature



NOTICE TO TAXPAYERSComplete details of budget estimates by fund and/or department may be seen by visiting the office of this unit of government.

Notice is hereby given to taxpayers of ZIONSVILLE COMMUNITY SCHOOL CORPORATION, Boone County, Indiana that the proper officers of Zionsville Community Schools at 900 Mulberry St., Zionsville, IN 46077 on Monday, October 08, 2012 at 6:00:00 PM will conduct a public hearing on the year 2013 budget. Following this meeting, any ten or more taxpayers may object to a budget, tax rate, or tax levy by filing an objection petition with the proper officers of Zionsville Community Schools within seven days after the hearing. The objection petition must identify the provisions of the budget, tax rate, or tax levy that taxpayers object to. If a petition is filed, the Zionsville Community Schools shall adopt with its budget a finding concerning the objections filed and testimony presented. Following the aforementioned hearing, the Zionsville Community Schools will meet at 900 Mulberry St., Zionsville, IN 46077 on Wednesday, October 24, 2012 at 6:00:00 PM to adopt the following budget:

Public Hearing Date

Public Hearing Time

Net Assessed Valuation

Estimated Max Levy

10/08/2012

6:00:00 PM

$1,936,847,280

$35,944,087

Adoption Meeting Date

Adoption Meeting Time

10/24/2012

6:00:00 PM

1Fund Name

2Budget Estimate

3Maximum Estimated Funds to be Raised

(including appeals and levies exempt from

maximum levy limitations)

4Excessive Levy Appeals

5Current Tax Levy

0021-REFERENDUM FUND - EXEMPT OPERATING

$5,295,541 $5,054,215 $0 $0

0061-RAINY DAY $1,100,000 $0 $0 $0

0101-GENERAL

$35,742,448 $0 $0 $0

0180-DEBT SERVICE

$20,193,468 $19,308,237 $0 $18,214,112

0186-SCHOOL PENSION DEBT $755,013 $759,342 $0 $736,002

1214-CAPITAL PROJECTS (School)

$6,659,582 $6,049,829 $0 $3,637,399

6301-TRANSPORTATION

$4,250,831 $3,368,286 $0 $3,009,861

6302-BUS REPLACEMENT $1,555,356 $1,404,178 $0 $375,748

Totals $75,552,239 $35,944,087 $0 $25,973,122




ORDINANCE OR RESOLUTION FOR APPROPRIATIONS AND TAX RATE

Be it ordained by the Board of School Trustees, Zionsville Community Schools, Boone County, Indiana that for the expenses of ZIONSVILLE COMMUNITY SCHOOL CORPORATION for the year ending December 31, 2013 the sum of $75,552,239 as shown on Budget Form 4-A are hereby appropriated and ordered set apart out of the funds herein named and for the purposes herein specified, subject to the laws governing the same. Such sums herein appropriated shall be held to include all expenditures authorized to be made during the year, unless otherwise expressly stipulated and provided for by law. In addition, for the purposes of raising revenue to meet the necessary expense of ZIONSVILLE COMMUNITY SCHOOL CORPORATION, a total property tax levy of $35,944,087 and a total tax rate of 1.8393, are adopted as shown on Budget Form 4-B and included herein. Budget Form 4-A and 4-B for all funds and departments are incorporated by the signing of this form and must be completed and submitted in the manner prescribed by the Department of Local Government Finance.

This ordinance shall be in full force and effect from and after its passage and approval by the taxing unit's fiscal body, Board of School Trustees, Zionsville Community Schools.

Name of Adopting Entity Select Type of Fiscal Body

Board of School Trustees, Zionsville Community Schools

School Board

Date of Adoption

10/24/2012



Name Signature

Robert Wingerter

Aye

Nay

Abstain

Jane Burgess

Aye

Nay

Abstain

Shari Alexander Richey

Aye

Nay

Abstain

William Stanczykiewicz

Aye

Nay

Abstain

James Longest

Aye

Nay

Abstain

Name Signature DateApprove

Veto

MAYOR ACTION (For City use only)

Name Title Signature ATTEST

Ordinance Number:



BUDGET REPORT FOR

Budget Form No. 4a (Rev. 2011)

2013Selected Year:06 - Boone CountySelected County:

Selected Unit:Selected Fund: 0101 - GENERAL

0630 - ZIONSVILLE COMMUNITY SCHOOL CORPORATION

DEPARTMENT: 1100 Regular Programs

Published Amount Adopted Amount

10000 PERSONAL SERVICES $18,316,880 $0

20000 SUPPLIES $215,000 $0

30000 SERVICES AND CHARGES $3,000 $0

40000 CAPITAL OUTLAY $0 $0

9999 Total $18,534,880 $0

DEPARTMENT: 1200 Special Programs



20000 SUPPLIES $29,500 $0



9999 Total $3,999,190 $0

DEPARTMENT: 1400 Summer School Programs


10000 PERSONAL SERVICES $0 $0

20000 SUPPLIES $0 $0



9999 Total $155,000 $0

DEPARTMENT: 1600 Remediation Programs


10000 PERSONAL SERVICES $55,180 $0

20000 SUPPLIES $50,500 $0

30000 SERVICES AND CHARGES $0 $0


9999 Total $105,680 $0


DEPARTMENT: 1700 Payments to Other Governmental Units within the State






9999 Total $862,500 $0

DEPARTMENT: 2100 Support Services-Students



20000 SUPPLIES $12,500 $0



9999 Total $2,228,480 $0

DEPARTMENT: 2200 Support Services-Instruction



20000 SUPPLIES $99,000 $0



9999 Total $656,021 $0

DEPARTMENT: 2300 Support Services-General Administration



20000 SUPPLIES $7,500 $0



9999 Total $669,023 $0

DEPARTMENT: 2400 Support Services-School Administration






9999 Total $3,013,383 $0


DEPARTMENT: 2500 Central Office



20000 SUPPLIES $77,500 $0



9999 Total $893,853 $0

DEPARTMENT: 2620 Maintenance of Buildings



20000 SUPPLIES $160,000 $0

30000 SERVICES AND CHARGES $2,814,155 $0


9999 Total $3,773,248 $0

DEPARTMENT: 2630 Maintenance of Grounds



20000 SUPPLIES $20,000 $0


40000 CAPITAL OUTLAY $5,000 $0

9999 Total $30,500 $0

DEPARTMENT: 2640 Maintenance of Equipment



20000 SUPPLIES $32,500 $0



9999 Total $66,000 $0

DEPARTMENT: 2650 Vehicle Maintenance (not buses)



20000 SUPPLIES $10,000 $0



9999 Total $61,000 $0


DEPARTMENT: 2670 Insurance






9999 Total $40,000 $0

DEPARTMENT: 3300 Community Service Operations






9999 Total $653,690 $0

Totals by Fund Published Amt.: $35,742,448 Adopted Amt.:$0



BUDGET REPORT FOR



Selected Unit:Selected Fund: 0180 - DEBT SERVICE


DEPARTMENT: 5100 Principal of Debt






9999 Total $0 $0

DEPARTMENT: 5200 Interest on Debt






9999 Total $0 $0

DEPARTMENT: 5300 Lease Rental






9999 Total $19,908,000 $0

DEPARTMENT: 5400 Advancements and Obligations






9999 Total $210,468 $0


DEPARTMENT: 5900 Other Debt Service Obligations






9999 Total $0 $0

DEPARTMENT: 6000 Non-programmed Costs






9999 Total $75,000 $0




BUDGET REPORT FOR



Selected Unit:Selected Fund: 0186 - SCHOOL PENSION DEBT


DEPARTMENT: 5100 Principal of Debt






9999 Total $375,000 $0

DEPARTMENT: 5200 Interest on Debt






9999 Total $380,013 $0

DEPARTMENT: 6000 Non-programmed Costs






9999 Total $0 $0

Totals by Fund Published Amt.: $755,013 Adopted Amt.:$0



BUDGET REPORT FOR



Selected Unit:Selected Fund: 1214 - CAPITAL PROJECTS (School)


DEPARTMENT: 2200 Support Services-Instruction






9999 Total $1,405,000 $0

DEPARTMENT: 2620 Maintenance of Buildings






9999 Total $794,730 $0

DEPARTMENT: 2640 Maintenance of Equipment






9999 Total $410,000 $0

DEPARTMENT: 2670 Insurance






9999 Total $300,000 $0


DEPARTMENT: 2680 Other Operating and Maintenance of Plant






9999 Total $0 $0

DEPARTMENT: 4100 Land Acquisition and Development






9999 Total $45,000 $0

DEPARTMENT: 4300 Professional Services






9999 Total $265,000 $0

DEPARTMENT: 4400 Educational Specifications Development






9999 Total $45,000 $0

DEPARTMENT: 4510 Building Acquisition, Construction and Improvement






9999 Total $1,417,150 $0


DEPARTMENT: 4520 Energy Savings Contracts






9999 Total $405,000 $0

DEPARTMENT: 4540 Sports Facilities






9999 Total $50,000 $0

DEPARTMENT: 4550 Rent of Building, Facilities, and Equipment






9999 Total $5,000 $0

DEPARTMENT: 4700 Purchase of Mobile or Fixed Equipment






9999 Total $767,702 $0

DEPARTMENT: 4900 Other Facilitaties Acquisition and Construction






9999 Total $750,000 $0




BUDGET REPORT FOR



Selected Unit:Selected Fund: 6301 - TRANSPORTATION


DEPARTMENT: 2700 Student Transportation



20000 SUPPLIES $642,500 $0



9999 Total $4,250,831 $0




BUDGET REPORT FOR



Selected Unit:Selected Fund: 6302 - BUS REPLACEMENT


DEPARTMENT: 2700 Student Transportation





40000 CAPITAL OUTLAY $1,555,356 $0

9999 Total $1,555,356 $0


Totals by Unit Published Amt.: $75,552,239 Adopted Amt.: $0

Form Signature




BUDGET REPORT FOR



Selected Unit:Selected Fund: 0061 - RAINY DAY








9999 Total $1,100,000 $0




BUDGET REPORT FOR



Selected Unit:Selected Fund: 0021 - REFERENDUM FUND - EXEMPT OPERATING








9999 Total $5,295,541 $0



Net Assessed Value $1,936,847,280

Funds Required For Expenses To December 31st Of Incoming Year Amount Used To Compute Published Budget Appropriating Body

1. Total budget estimate for incoming year $35,742,448 $02. Necessary expenditures, July 1 to December 31 of present year, to be made from appropriation unexpended $17,737,771 $0

3. Additional appropriation necessary to be made July 1 to December 31 of present year$0 $0

4. Outstanding temporary loans: a). To be paid not included in lines 2 or 3 $0 $0

b). Not repaid by December 31 of present year $0 $05. TOTAL FUNDS required (add lines 1,2,3,4a and 4b) $53,480,219 $0

Funds On Hand To Be Received From Sources Other Than Proposed Tax Levy Amount Used To Compute Published Budget Appropriating Body

6. Actual cash balance, June 30 of present year (including cash investments) $1,324,333 $07. Taxes to be collected, present year (December settlement) $0 $08. Miscellaneous revenue to be received July 1 of present year to December 31 of incoming year(Schedule on File): a). Total Column A Budget Form 2

$17,858,202 $0

b). Total Column B Budget Form 2 $34,503,635 $09. TOTAL FUNDS (Add lines 6, 7, 8a and 8b) $53,686,170 $010. Net amount to be raised for expenses to December 31 of incoming year (deduct line 9 from 5)

($205,951) $0

Proposed Tax Rate and Levy Amount Used To Compute Published Budget Appropriating Body

11. Operating balance ( not in excess of expense January 1 to June 30, less miscellaneous revenue for same period) $1,530,284 $0

12. Amount to be raised by tax levy (add lines 10 and 11) $0 $013a. Property Tax Replacement Credit from Local Option Tax $0 $013b. Operating LOIT $0 $014. NET AMOUNT TO BE RAISED BY TAX LEVY (deduct line 13a and 13b from line 12)

$0 $0

15. Levy Excess Fund applied to current budget $0 $016. Net amount to be raised $0 $017. Net Tax Rate on each one hundred dollars of taxable property 0.0000 0.0000

Budget Form 4-BPrescribed byt the Department of Local Government FinanceApproved by the State Board of Accounts

Budget Estimate- Financial Statement-Proposed Tax Rate

0630 - ZIONSVILLE COMMUNITY SCHOOL CORPORATION0101 - GENERAL 06 - Boone County2013

Taxing Unit:Fund Name:

County:Year:









6. Actual cash balance, June 30 of present year (including cash investments) $9,277,498 $07. Taxes to be collected, present year (December settlement) $9,667,609 $08. Miscellaneous revenue to be received July 1 of present year to December 31 of incoming year(Schedule on File): a). Total Column A Budget Form 2

$538,456 $0

b). Total Column B Budget Form 2 $1,025,668 $09. TOTAL FUNDS (Add lines 6, 7, 8a and 8b) $20,509,231 $010. Net amount to be raised for expenses to December 31 of incoming year (deduct line 9 from 5)

$9,010,737 $0


11. Operating balance ( not in excess of expense January 1 to June 30, less miscellaneous revenue for same period) $10,297,500 $0

12. Amount to be raised by tax levy (add lines 10 and 11) $19,308,237 $013a. Property Tax Replacement Credit from Local Option Tax $0 $013b. Operating LOIT $0 $014. NET AMOUNT TO BE RAISED BY TAX LEVY (deduct line 13a and 13b from line 12)

$19,308,237 $0

15. Levy Excess Fund applied to current budget $0 $016. Net amount to be raised $19,308,237 $017. Net Tax Rate on each one hundred dollars of taxable property 0.9969 0.0000



0630 - ZIONSVILLE COMMUNITY SCHOOL CORPORATION0180 - DEBT SERVICE 06 - Boone County2013


County:Year:




1. Total budget estimate for incoming year $755,013 $02. Necessary expenditures, July 1 to December 31 of present year, to be made from appropriation unexpended $378,209 $0





6. Actual cash balance, June 30 of present year (including cash investments) $300,579 $07. Taxes to be collected, present year (December settlement) $390,652 $08. Miscellaneous revenue to be received July 1 of present year to December 31 of incoming year(Schedule on File): a). Total Column A Budget Form 2

$21,759 $0

b). Total Column B Budget Form 2 $37,393 $09. TOTAL FUNDS (Add lines 6, 7, 8a and 8b) $750,383 $010. Net amount to be raised for expenses to December 31 of incoming year (deduct line 9 from 5)

$382,839 $0


11. Operating balance ( not in excess of expense January 1 to June 30, less miscellaneous revenue for same period) $376,503 $0

12. Amount to be raised by tax levy (add lines 10 and 11) $759,342 $013a. Property Tax Replacement Credit from Local Option Tax $0 $013b. Operating LOIT $0 $014. NET AMOUNT TO BE RAISED BY TAX LEVY (deduct line 13a and 13b from line 12)

$759,342 $0

15. Levy Excess Fund applied to current budget $0 $016. Net amount to be raised $759,342 $017. Net Tax Rate on each one hundred dollars of taxable property 0.0392 0.0000



0630 - ZIONSVILLE COMMUNITY SCHOOL CORPORATION0186 - SCHOOL PENSION DEBT06 - Boone County2013


County:Year:










$109,532 $0

b). Total Column B Budget Form 2 $193,882 $09. TOTAL FUNDS (Add lines 6, 7, 8a and 8b) $4,496,240 $010. Net amount to be raised for expenses to December 31 of incoming year (deduct line 9 from 5)

$5,549,829 $0




$6,049,829 $0




0630 - ZIONSVILLE COMMUNITY SCHOOL CORPORATION1214 - CAPITAL PROJECTS (School) 06 - Boone County2013


County:Year:










$88,996 $0


$2,768,286 $0




$3,368,286 $0




0630 - ZIONSVILLE COMMUNITY SCHOOL CORPORATION6301 - TRANSPORTATION 06 - Boone County2013


County:Year:




1. Total budget estimate for incoming year $1,555,356 $02. Necessary expenditures, July 1 to December 31 of present year, to be made from appropriation unexpended $349,477 $0





6. Actual cash balance, June 30 of present year (including cash investments) $351,983 $07. Taxes to be collected, present year (December settlement) $199,438 $08. Miscellaneous revenue to be received July 1 of present year to December 31 of incoming year(Schedule on File): a). Total Column A Budget Form 2

$11,054 $0


$1,304,178 $0




$1,404,178 $0




0630 - ZIONSVILLE COMMUNITY SCHOOL CORPORATION6302 - BUS REPLACEMENT06 - Boone County2013


County:Year:




1. Total budget estimate for incoming year $1,100,000 $1,050,0002. Necessary expenditures, July 1 to December 31 of present year, to be made from appropriation unexpended $1,007,727 $1,007,727



b). Not repaid by December 31 of present year $0 $05. TOTAL FUNDS required (add lines 1,2,3,4a and 4b) $2,107,727 $2,057,727


6. Actual cash balance, June 30 of present year (including cash investments) $2,687,523 $07. Taxes to be collected, present year (December settlement) $0 $08. Miscellaneous revenue to be received July 1 of present year to December 31 of incoming year(Schedule on File): a). Total Column A Budget Form 2

$3,000 $0


($588,796) $2,057,727



12. Amount to be raised by tax levy (add lines 10 and 11) $0 $013a. Property Tax Replacement Credit from Local Option Tax $0 $013b. Operating LOIT $0 $014. NET AMOUNT TO BE RAISED BY TAX LEVY (deduct line 13a and 13b from line 12)

$0 $0

15. Levy Excess Fund applied to current budget $0 $016. Net amount to be raised $0 $017. Net Tax Rate on each one hundred dollars of taxable property 0.0000 0.0000



0630 - ZIONSVILLE COMMUNITY SCHOOL CORPORATION0061 - RAINY DAY06 - Boone County2013


County:Year:




1. Total budget estimate for incoming year $5,295,541 $02. Necessary expenditures, July 1 to December 31 of present year, to be made from appropriation unexpended $0 $0





6. Actual cash balance, June 30 of present year (including cash investments) $0 $07. Taxes to be collected, present year (December settlement) $0 $08. Miscellaneous revenue to be received July 1 of present year to December 31 of incoming year(Schedule on File): a). Total Column A Budget Form 2

$0 $0


$5,054,215 $0


11. Operating balance ( not in excess of expense January 1 to June 30, less miscellaneous revenue for same period) $0 $0


$5,054,215 $0




0630 - ZIONSVILLE COMMUNITY SCHOOL CORPORATION0021 - REFERENDUM FUND - EXEMPT OPERATING06 - Boone County2013


County:Year:


Prescribed by the Department of Local Government Finance

CURRENT YEAR FINANCIAL WORKSHEET(Formerly Line 2 Worksheet)


Selected Unit:Selected Fund: 0101 - GENERAL


APPROPRIATIONS

1. Current Year Approved Budget $33,760,135

2. Encumbrances Brought Forward $0

3. Additional Appropriations (January to June) $0

4. Other Non-Appropriated Obligations $0

5. Total Approved Appropriations $33,760,135

DISBURSEMENTS

6. January through June Current Year Disbursements $16,022,364

7. Appropriation Balance $17,737,771

8. Reductions July through December $0

9. Estimated Current Year Expenditures July through December $17,737,771

Line 3

10. Proposed/Approved Additional Appropriations for July through Dec. of Current Year $0

Line 4A

11. Levy excess not transferred prior to June 30 $0

12. Temporary Loans outstanding as of June 30 $0

What fund loaned the cash on Line 12:

13. Temporary loans not included in Lines 2 or 3 $0

Line 4B

14. Temp loans to be repaid in the first six months of ensuing year $0


Line 6

15. June 30 Cash Balance, including investments $1,324,333

Line 2







APPROPRIATIONS






DISBURSEMENTS



8. Reductions July through December $1,271,903


Line 3


Line 4A





Line 4B



Line 6


Line 2







APPROPRIATIONS

1. Current Year Approved Budget $756,685




5. Total Approved Appropriations $756,685

DISBURSEMENTS

6. January through June Current Year Disbursements $378,476

7. Appropriation Balance $378,209


9. Estimated Current Year Expenditures July through December $378,209

Line 3


Line 4A





Line 4B



Line 6

15. June 30 Cash Balance, including investments $300,579

Line 2





Selected Unit:Selected Fund: 1214 - CAPITAL PROJECTS (School)


APPROPRIATIONS






DISBURSEMENTS





Line 3


Line 4A





Line 4B



Line 6


Line 2





Selected Unit:Selected Fund: 6301 - TRANSPORTATION


APPROPRIATIONS






DISBURSEMENTS





Line 3


Line 4A





Line 4B



Line 6


Line 2





Selected Unit:Selected Fund: 6302 - BUS REPLACEMENT


APPROPRIATIONS

1. Current Year Approved Budget $349,477




5. Total Approved Appropriations $349,477

DISBURSEMENTS

6. January through June Current Year Disbursements $0

7. Appropriation Balance $349,477


9. Estimated Current Year Expenditures July through December $349,477

Line 3


Line 4A





Line 4B



Line 6

15. June 30 Cash Balance, including investments $351,983

Line 2

Form Signature






Selected Unit:Selected Fund: 0061 - RAINY DAY


APPROPRIATIONS






DISBURSEMENTS

6. January through June Current Year Disbursements $592,273




Line 3


Line 4A





Line 4B



Line 6


Line 2





Selected Unit:Selected Fund: 0021 - REFERENDUM FUND - EXEMPT OPERATING


APPROPRIATIONS

1. Current Year Approved Budget $0




5. Total Approved Appropriations $0

DISBURSEMENTS

6. January through June Current Year Disbursements $0

7. Appropriation Balance $0


9. Estimated Current Year Expenditures July through December $0

Line 3


Line 4A





Line 4B



Line 6

15. June 30 Cash Balance, including investments $0

Line 2



DEBT WORKSHEET




Name of Issue Line 2 Due

Line 2 Amount

Line 1 Due

Line 1 Amount

Line 11 Due

Line 11 Amount

1999 CABS

2000 CABS

2002 CABS

Lease Rental Bonds of 2003A 1/15/2013 $565,000 7/15/2013 $565,000

Lease Rental Bonds of 2003Z 1/15/2013 $560,500 1/15/2014 $1,121,000 7/15/2014 $560,500

Lease Rental Bonds of 2005A 1/15/2013 $2,014,000 1/15/2014 $4,632,000 7/15/2014 $2,693,500

Lease Rental Bonds of 2005Z 1/15/2013 $1,315,500 1/15/2014 $2,693,000 7/15/2014 $1,312,500

Refunding Bonds of 2005 1/15/2013 $1,323,500 1/15/2014 $2,647,000 7/15/2014 $1,323,500

Refunding Bonds of 2007 1/15/2013 $698,000 1/15/2014 $1,961,000 7/15/2014 $1,263,000



Refunding Bonds of 2012A

Refunding Bonds of 2012B

Unreimbursed Textbooks $75,000 $75,000

Interest on Temporary Loans $0 $210,468

Fees $0 $0 $0

Anticipated Debt Service $0 $0 $0

TOTALS BY FUND $9,326,500 $20,193,468 $10,297,500



DEBT WORKSHEET




Name of Issue Line 2 Due

Line 2 Amount

Line 1 Due

Line 1 Amount

Line 11 Due

Line 11 Amount

PENSION BOND 2004 1/5/2013 $378,209 1/5/2014 $755,013 7/5/2014 $376,503

TOTALS BY FUND $378,209 $755,013 $376,503

Form Signature

I hereby acknowledge that the submission of this document through the Gateway password and PIN system constitutes an "electronic signature" as defined in IC 5-24-2-2. This submission is intended to, and hereby does, constitute authentication and approval of the submitted document as required by the Indiana Code. I understand that this electronic signature takes the place of my handwritten signature and accomplishes the same purposes as would my handwritten signature in the same circumstance. I further acknowledge that this electronic signature has the same force and effect as my handwritten signature and can and will be used for all lawful purposes. I affirm that I have the real and apparent authority to electronically sign and submit this document on behalf of the unit.

Michael Shafer

NAME

TITLE

CFOSIGNATURE/PIN

****DATE

07/17/2012

Totals by Unit $9,704,709 $20,948,481 $10,674,003


School Name: Zionsville Community Schools County Name: BooneSchool No: 0630

Total land area: 51 square miles Location: Town of Zionsville and Eagleand Union Townships ofBoone County, Indiana

Composition of governing body:Five member elected board.

Number of employees:Certified 359 Noncertified 384

School Year

Student Enrollment

Assessed Valuation

School Year

Estimated Student

Enrollment

Assessed Valuation /

Estimated AV2007-2008 5,206 2,182,454,083 2012-2013 5,868 1,969,773,684 *2008-2009 5,330 1,913,697,539 2013-2014 5,986 2,028,866,895 *2009-2010 5,534 1,957,176,731 2014-2015 6,112 2,089,732,902 *2010-2011 5,612 1,934,717,018 2015-2016 6,275 2,152,424,889 *2011-2012 5,740 1,936,847,280 2016-2017 6,471 2,216,997,636 *

* Future Estimate - Assessed Values shown are estimated

Comments concerning enrollment or assessed valuation trends:Historically, our A/V has grown by 5% to 6% in non-reassessment years. Howeverfor 2011, our AV decreased by 1%. This was followed by an increase, but just 0.1%,for 2012. Based on the reduced growth rates brought on by the national recession,we expect to see AV over the next five years remain relatively constant at or near thecurrent level. At most it could increase at a rate about one-half of the historicalgrowth rates.

The projections of student enrollment are based on a demographic study conductedfor ZCS by Indiana University's Indiana Business Research Center. The last studywas completed in May, 2009. A new study by IBRC to update these projections isnow underway. As shown, our enrollment has increased by over 800 students overthe past five years and is expected to increase by another 700 or so students in thenext five years.

2013 Capital Projects Plan

General Information:

Enrollment and Assessed Valuation Information:



2007 2008 2009 2010 2011 2012 0.0015 0.0015 XXXXXX XXXXXX XXXXXX XXXXXX 0.6907 0.7334 0.0044 XXXXXX XXXXXX XXXXXX 0.6791 0.6480 0.8128 0.8999 0.8807 0.9404 0.0318 0.0270 0.0363 0.0378 0.0355 0.0380 0.1015 0.1708 0.1899 0.2071 0.2076 0.1878 0.1165 0.1080 0.1439 0.1453 0.1462 0.1554

Bus Replacement Fund 0.0313 0.0234 0.0047 0.0028 0.0031 0.0194 1.6524 1.7121 1.1920 1.2929 1.2731 1.3410

Present Facilities

1. K-4 1983 708 24,653,048

2. K-4 2007 407 16,649,089

11750 E. 300 S., Zionsville3. K-4 1955 369 11,723,462

4. K-4 2005 614 12,642,908

5. PK 2003 200 12,642,908

6. 5-8 2007 855 35,952,534

7. 5-8 2001 991 33,072,597

8. 9-12 1970 1,795 68,002,391

9. N/A 2001 N/A 8,639,983

10. N/A 1998 N/A 1,768,861

11. N/A 1938 N/A 3,570,361

XXXX XXXX XXXXX 229,318,142

1. 92 1,494,8522. 32 450,000

XXXXX 1,944,852

Future Building Site for Possible New School (Union Twp).Future Building Site for Possible New School (EagleTwp).TOTAL LAND VALUE

Sp. Ed. Preschool FundGeneral Fund Debt Service Fund

Transportation Fund

9770 E. 600 S., ZionsvilleZCS Maintenance Center9257 State Rd. 32 East, Zionsville

Boone Meadow Elementary School5555 South 650 East, Whitestown

TOTAL BUILDING VALUE

1000 Mulberry, ZionsvilleEducational Services Center900 Mulberry, ZionsvilleZCS Transportation Center

7312 West Stonegate Drive, Zionsville

Zionsville West Middle School5565 S. 700 E., WhitestownZionsville Middle School900 N. Ford Rd., ZionsvilleZionsville Community High School

Stonegate Elementary School

Tax Rate Information:

Facility Name and LocationGrades Housed

Initial Year of Construction

2011-2012Enrollment

Estimated Current

Bldg. Value

Capital Projects FundPension Debt Service Fund

Total Rates

Payable Year

Pleasant View Elementary4700 S. 975 East, ZionsvilleUnion Elementary School

Eagle Elementary School350 N. 6th St., Zionsville



ReceiptsProperty Tax FIT Excise CVET State Grants Misc.XXXXXX XXXXXX XXXXXXXX XXXXXX 33,206,135 1,297,500

19,308,237 9,274 992,612 23,782759,342 338 36,188 867

6,049,829 1,717 183,762 4,403 4,000Transportation Fund 3,368,286 1,421 152,059 3,643Bus Replacement Fund 1,404,178 345 36,950 885Rainy Day Fund XXXXXX XXXXXX XXXXXXXX XXXXXX 6,000Referendum Operating 5,054,215 2,182 233,548 5,596TOTALS 35,944,087 15,277 1,635,119 39,176 33,206,135 1,307,500

Disbursements General FundInstruction – Regular Programs 18,534,880Instruction – Special Programs 3,999,190Instruction – Summer School 155,000Instruction – Remediation 105,680Payments To Other Governmental Units 862,500Support Services – Pupils 2,228,480Support Services – Instruction Staff 656,021Support Services – General Admn. 669,023Support Services – School Admn. 3,013,383Support Services – Central 893,853Support Services - Op and Maint Plnt Srvcs 3,970,748Community Services 653,690 Nonprogrammed ChargesDebt ServicesTotal General Fund 35,742,448

Debt Service FundNonprogrammed Charges 75,000 Debt Services 20,118,468 Total Debt Service Fund 20,193,468

Pension Bond Debt ServiceDebt Services 755,013 Total Pension Bond Debt Service Fund 755,013

Capital Projects FundSupport Services – Instruction 1,549,730 Support Services - Op and Maint Plnt Srvcs 3,242,702 Facilities Acquisition And Construction 1,867,150 Total Capital Projects Fund 6,659,582

Transportation FundStudent Transportation 4,250,831 Total Transportation Fund 4,250,831

Bus Replacement FundStudent Transportation - Purchase of School Buses 1,555,356 Total Bus Replacement Fund 1,555,356

Rainy Day FundInstruction – Regular Programs 1,100,000 Total Rainy Day Fund 1,100,000

Capital Projects FundPension DebtDebt ServiceGeneral Fund

Anticipated Receipts and Disbursements for CY2013

Source/Fund



Summary of Expenditures 2013 2014 2015

1) Land acquisition and development 45,000 50,000 50,000

2) Professional Services 265,000 265,000 265,000

3) Education Specification Development 45,000 50,000 50,000

4) Bldg. Acquisition, Constr. And Impr. 1,822,150 1,795,801 1,674,100

5) Rental of Bldgs., Grounds & Equip. 5,000 15,000 15,000

6) Purchase of mobile or fixed equip. 767,702 717,980 717,980

7) Emergency Allocations 750,000 500,000 500,000

8) Utility Services 650,000 615,000 615,000

9) Maintenance of equipment 410,000 511,000 511,000

10) School sports facility 50,000 187,500 187,500

11) Property and casualty insurance 300,000 300,000 300,000

12) Other - - -

13) Technology 1,549,730 1,623,675 1,674,571

Subtotal expenditures 6,659,582 6,630,956 6,560,151

14) Allocation for future projects - - -

15) Transfer to repair & repl. - - -

16) Interest - - -

Total expenditures, allocations & transfers 6,659,582 6,630,956 6,560,151

Sources and Estimates of Revenue

Projected cash balance, January 1 415,971 91,503 28,413

Less encumbrances carried forward from a previous year - - -

Estimated cash balance available for plan 415,971 91,503 28,413

Property tax revenue 6,049,829 6,237,243 6,261,093

Auto excise, CVET & FIT 189,882 194,537 194,537

Other (interest income) 4,000 4,098 4,098

Total funds available for the plan 6,659,682 6,527,381 6,488,141

Estimated tax rate to fund the plan 0.3124 0.3220 0.3233

Based on an assessed valuation of: 1,936,847,280 2,028,866,895 2,089,732,902



Plan Detail

Site: Pleasant View Elementary School

Grades housed (or other use): K-4 Date of occupancy: 1983Current value: 24,653,048 Acreage: 14

Number of classrooms: 60 Student Capacity: 1,200Square footage: 189,347 Current Capacity: 1,200

Enrollment History:2011-2012 708 2008-2009 6842010-2011 734 2007-2008 7042009-2010 723

Detailed Evaluation of Building Condition:This school consists of two school buildings that merged into one single elementary school at the beginning of the 2008-2009school year. The original building, built in 1983, is structurally and mechanically sound. It has previously been used as amiddle school that was converted to an elementary school serving grades three and four beginning with the start of the2001-2002 school year. It is expected that this building will be renovated within the next few years. The other building wasconstructed in 1996 - 1998 and was used for the first time in the 1998-1999 school year. It has been maintained in a nearzero-age condition. Work was completed in 2002 to add two additional classrooms for kindergarten to the building.

Summary of Expenditures 2013 2014 20151) Land acquisition and development - - -


3) Education Specification Development - - -

4) Bldg. Acquisition, Constr. And Impr. 32,700 91,000 94,500

5) Rental of Bldgs., Grounds & Equip. - -


7) Emergency Allocations - - -

8) Utility Services - - -


10) School sports facility - - -

11) Property and casualty insurance - -

12) Other Staff Services - - -

13) Technology 17,193 16,000 16,000

Subtotal expenditures 109,493 168,680 172,180



16) Interest - - -

Total expenditures, allocations & transfers 109,493 168,680 172,180



Plan Detail

Site: Union Elementary School


Number of classrooms: 25 Student Capacity: 675Square footage: 100,265 Current Capacity: 675


Detailed Evaluation of Building Condition:The building is recent construction which opened for use for the first time for the 2007-2008 school year. It replaced the formerUnion Elementary School which was originally built in 1938.


1) Land acquisition and development - - -




5) Rental of Bldgs., Grounds & Equip. - - -






11) Property and casualty insurance - - -


13) Technology 12,563 16,000 16,000




16) Interest - - -




Plan Detail

Site: Eagle Elementary School




Detailed Evaluation of Building Condition:The building was closed for the entire 1998-1999 school year and completely renovated. An addition equal to approximately50% of the original building was added at that time. The building was brought into a zero-age condition and has beenmaintained at or near that level since it was re-opened in 1999 for the 1999-2000 school year. Work to address amoisture problem within the building to allow continuation of near zero-age status is on-going.














13) Technology 12,563 16,000 16,000




16) Interest - - -




Plan Detail

Site: Stonegate Elementary School




Detailed Evaluation of Building Condition:The building was new construction that opened to students for the beginning of the 2005-2006 school year. It is currently inexcellent condition. Planned minor maintenance will be sufficient to maintain it in zero-age condition for some time to come.














13) Technology 12,563 16,000 16,000




16) Interest - - -




Plan Detail

Site: Boone Meadow Elementary School



Enrollment History:2011-2012 200 2008-2009 N/A2010-2011 N/A 2007-2008 N/A2009-2010 N/A

Detailed Evaluation of Building Condition:The building was completed and first opened to students for the 2003-2004 school year. It was used as an elementary schoolfor the 2003-2004 and 2004-2005 school years. In 2005-2006 and 2006-2007, it was a middle school. It began being used asa special education preschool center and for other special school programs beginning with the 2009-2010 school year. Thebuilding houses our entire preschool program of approximately 200 children as well as the state-required special education preschool students shown in the enrollment history above. The building currently is in need of significant roof repairs as well as various routine maintnenance items.













13) Technology 12,563 25,000 25,000


14) Allocation for future projects - -


16) Interest - - -




Plan Detail

Site: Zionsville West Middle School

Grades housed (or other use): 5-8 Date of occupancy: 2007Current value: 35,952,534 Acreage: 77



Detailed Evaluation of Building Condition:This school occupied an elementary school building for the 2005-2006 and 2006-2007 school years. The current middleschool building was completed and occupied by students at the beginning of the 2007-2008 school year. The building iscurrently in excellent condition.














13) Technology 20,558 25,000 25,000




16) Interest - - -




Plan Detail

Site: Zionsville Middle School



Enrollment History:2011-2012 991 2008-2009 9032010-2011 946 2007-2008 1,1432009-2010 952

Detailed Evaluation of Building Condition:Construction of this facility was completed, and the building was first occupied for the beginning of the 2001-2002 schoolyear. The building has been maintained in a near zero-age condition with several minor alterations, modifications, andrenovation projects. Needed repairs of the athletic running track and tennis courts, along with certain lighting and carpetingreplacements and parking lot maintenance are the largest expected maintenance expenses over the next three school years.








7) Emergency Allocations - 0 -






13) Technology 22,304 18,000 18,000




16) Interest - - -




Plan Detail

Site: Zionsville Community High School



Enrollment History:2011-2012 1,795 2008-2009 1,6282010-2011 1,752 2007-2008 1,5502009-2010 1,725

Detailed Evaluation of Building Condition:The building was totally renovated in 1997 and 1998, with a new cafeteria, new gymnasium, and new classroom wing. It hassince been maintained in near zero-age condition. The building received an expansion of the cafeteria in 2002.Construction of a new performing arts center and natatorium was completed in 2003. The Freshman Center opened for the2005-2006 school year. Additional educational space was added in 2008 bringing the building's capacity to 2,050. Newoutdoor athletic facilities were completed for the 2010-2011 school year. Among the more significant needs of this buildingcurrently are repairs and replacements of the majority of the building's roof, replacement of the currently unusable tenniscourts, replacement of various sections of carpeting, replacements or upgrades to numerous pieces of equipment andinfrastructure items related to the building's HVAC, electrical, plumbing and security system infrastructures.




4) Bldg. Acquisition, Constr. And Impr. 1,000,000 817,301 635,500









13) Technology 21,954 25,000 25,000




16) Interest - - -




Plan Detail

Site: Educational Service Center

Grades housed (or other use): N/A Date of occupancy: 2001Current value: 8,639,983 Acreage: N/A

Number of classrooms: N/A Student Capacity: N/ASquare footage: 20,515 Current Capacity: N/A

Enrollment History:2011-2012 N/A 2008-2009 N/A2010-2011 N/A 2007-2008 N/A2009-2010 N/A

Detailed Evaluation of Building Condition:The former Zionsville Upper Middle School, located on the campus of Zionsville Community High School, was renovated foruse as a new Educational Services Center in 2001 and was occupied in November of that year. This building was put into anear zero-age condition and has been maintained at that level. However, certain security systems upgrades are needed.


1) Land acquisition and development 45,000 50,000 50,000


3) Education Specification Development 45,000 50,000 50,000


5) Rental of Bldgs., Grounds & Equip. 5,000 15,000 15,000


7) Emergency Allocations 750,000 500,000 500,000

8) Utility Services 650,000 615,000 615,000



11) Property and casualty insurance 300,000 300,000 300,000


13) Technology 1,405,000 1,454,175 1,505,071


14) Allocation for future projects - -


16) Interest - - -




Plan Detail

Site: Transportation Center

Grades housed (or other use): N/A Date of occupancy: 1998Current value: 1,768,861 Acreage: 2



Detailed Evaluation of Building Condition:The building was constructed in 1998 and is in near zero-age condition. An expansion of the bus and employee parking areas was completed in 2003. Some parking lot repairs and sealing are needed to maintain this facility.














13) Technology 10,469 7,500 7,500




16) Interest - - -




Plan Detail

Site: Maintenance Center

Grades housed (or other use): N/A Date of occupancy: 1938Current value: 3,570,361 Acreage: 20



Detailed Evaluation of Building Condition:The building is the oldest in our school corporation. It was formerly an elementary school building that was converted into useas a maintenance center in 2007. However, even for this usage the site is marginal at best. Replacement through theconstruction of a new maintenance center is badly needed. The building itself currently is in need of roof replacement andreplacement of the HVAC system, along with major repairs to the plumbing and electrical systems. The building also is notcompliant with ADA requirements and per our architect's evaluation cannot feasibly be brought into compliance. The itemsshown below are primarily associated with needs of the Maintenance Department. Only very minor maintenance, if any, will beperformed on the building itself.




4) Bldg. Acquisition, Constr. And Impr. - - -









13) Technology 2,000 5,000 5,000




16) Interest - - -



Pursuant to IC 20-46-5 Zionsville Community Schools, does hereby submit to the Department of Local Government Finance the following School BusBus Replacement Plan for the twelve (12) year period 2013 through 2024. This plan is based upon the presumption that the minimum useful life of a school busnot less than twelve (12) years.

ZIONSVILLE COMMUNITY SCHOOLSSCHOOL BUS REPLACEMENT PLAN

FOR THE YEARS 2013 - 2024

TYPE OF BUS OWNED

CORP. VEHICLE PER OR COST OF EACHBus Description I.D. No. DOE "TN" LEASED 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 BUS/VEHICLE

1 2009 Blbird 1 D OWNED 172,739 172,739 2 2009 Blbird 3 D OWNED 172,739 172,739 3 2002 Blbird 4 D OWNED 111,349 111,349 4 2009 Blbird 5 D OWNED 172,739 172,739 5 2009 Blbird 6 D OWNED 181,376 181,376 6 2001 Blbird 9 D OWNED 106,047 106,047 7 2001 Blbird 10 D OWNED 106,047 106,047 8 2009 Blbird 11 D OWNED 181,376 181,376 9 1999 GMC/Blbird 12 A OWNED 70,698 70,698 10 2011 Thomas 13 D OWNED 181,376 181,376 11 2001 Blbird 19 D OWNED 106,047 106,047 12 2002 Blbird 22 D OWNED 111,349 111,349 13 2000 GMC/Blbird 24 C OWNED 106,047 106,047 14 2001 Blbird 33 D OWNED 106,047 106,047 15 2002 Blbird 34 D OWNED 111,349 111,349 16 2002 Blbird 35 D OWNED 111,349 111,349 17 2001 Blbird 40 D OWNED 106,047 106,047 18 2003 Blbird 41 D OWNED 116,916 116,916 19 2002 Blbird 42 D OWNED 111,349 111,349 20 2003 Blbird 48 D OWNED 116,916 116,916 21 2003 Blbird 49 D OWNED 116,916 116,916 22 2003 Blbird 50 D OWNED 116,916 116,916 23 2003 Blbird 51 D OWNED 116,916 116,916 24 2004 Blbird 52 D OWNED 128,900 128,900 25 2004 Blbird 53 D OWNED 135,345 135,345 26 2004 Blbird 54 D OWNED 128,900 128,900 27 2004 Blbird 55 D OWNED 135,345 135,345 28 2004 Blbird 56 D OWNED 128,900 128,900 29 2004 Blbird 57 D OWNED 135,345 135,345 30 2004 Blbird 58 D OWNED 135,345 135,345

REPLACEMENT COST SUBTOTAL, PAGE 1 706,980 556,745 584,580 - 386,700 541,380 - - - - 518,217 544,128 3,838,730

Estimated Replacement Costs


COUNT TYPE OF BUS OWNED REPLACEMENT

NUMBER MAKE/ CORP. VEHICLE PER OR COST OF EACHOF BUSES MODEL I.D. DOE "TN" LEASED 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 BUS/VEHICLE

31 2002 Blbird 59 D OWNED 111,349 111,349 32 2002 Blbird 60 D OWNED 116,916 116,916 33 2002 Blbird 61 D OWNED 111,349 111,349 34 2003 Blbird 62 D OWNED 116,916 116,916 35 2003 Blbird 63 D OWNED 116,916 116,916 36 2003 Blbird 64 D OWNED 122,762 122,762 37 2003 Blbird 65 D OWNED 122,762 122,762 38 2003 Blbird 66 D OWNED 122,762 122,762 39 2003 Blbird 67 D OWNED 122,762 122,762 40 2003 Blbird 68 D OWNED 122,762 122,762 41 2003 Blbird 70 D OWNED 122,762 122,762 42 2003 Blbird 71 D OWNED 128,900 128,900 43 2003 Blbird 72 D OWNED 128,900 128,900 44 2003 Blbird 73 D OWNED 128,900 128,900 45 2004 Blbird 74 D OWNED 135,345 135,345 46 2007 Thomas 75 D OWNED 142,112 142,112 47 2007 Thomas 76 D OWNED 135,345 135,345 48 2007 Thomas 77 D OWNED 135,345 135,345 49 2007 Thomas 78 D OWNED 142,112 142,112 50 2007 Thomas 79 D OWNED 142,112 142,112 51 2007 Thomas 80 D OWNED 142,112 142,112 52 2007 Thomas 81 D OWNED 142,112 142,112 53 2007 Thomas 82 D OWNED 142,112 142,112 54 2007 Thomas 83 D OWNED 142,112 142,112 55 2007 Blbird 84 D OWNED 149,218 149,218 56 2007 Blbird 85 D OWNED 149,218 149,218 57 2007 Blbird 86 D OWNED 149,218 149,218 58 2007 Blbird 87 D OWNED 149,218 149,218 59 2007 Blbird 88 D OWNED 149,218 149,218 60 2007 Blbird 89 D OWNED 149,218 149,218

REPLACEMENT COST SUBTOTAL, PAGE 2 - 339,614 233,832 736,572 386,700 406,035 994,784 895,308 - - - - 3,992,845

REPLACEMENT COST OF BUS/VEHICLE DURING SPECIFIED YEAR (Continued)



COUNT TYPE OF BUS OWNED

NUMBER CORP. VEHICLE PER OR COST OF EACHOF BUSES Bus Description I.D. DOE "TN" LEASED 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 BUS/VEHICLE

61 2007 Blbird 90 D OWNED 149,218 149,218 62 2007 Blbird 91 D OWNED 156,679 156,679 63 2007 Blbird 92 D OWNED 156,679 156,679 64 2007 Blbird 93 D OWNED 156,679 156,679 65 2007 Blbird 94 D OWNED 156,679 156,679 66 2007 Blbird 95 D OWNED 156,679 156,679 67 2007 Blbird 96 D OWNED 156,679 156,679 68 2008 Thomas 97 D OWNED 164,513 164,513 69 2008 Thomas 98 D OWNED 164,513 164,513 70 2008 Thomas 99 D OWNED 164,513 164,513 71 2008 Thomas 100 D OWNED 164,513 164,513 72 2008 Thomas 101 D OWNED 164,513 164,513 73 2008 Thomas 102 D OWNED 172,739 172,739 74 2008 Thomas 103 D OWNED 172,739 172,739 75 2009 Thomas SPV V-1 A OWNED 129,844 129,844 76 1999 Blbird SPV V-2 A OWNED 70,698 70,698 77 2000 Blbird SPV V-3 A OWNED 70,698 70,698 78 2001 Blbird SPV V-4 A OWNED 74,940 74,940 79 2006 Thomas SPV V-5 A OWNED 100,286 100,286 80 2006 Thomas SPV V-6 A OWNED 112,681 112,681 81 2008 Thomas SPV V-7 A OWNED 129,844 129,844

REPLACEMENT COST TOTAL, PAGE 3 141,396 74,940 - - - - 100,286 149,218 1,052,755 822,565 345,478 259,688 2,946,326 -

GRAND TOTAL - REPLACEMENT COST TOTAL, ALL PAGES 848,376 971,299 818,412 736,572 773,400 947,415 1,095,070 1,044,526 1,052,755 822,565 863,695 803,816 10,777,901

REPLACEMENT COST OF BUS/VEHICLE DURING SPECIFIED YEAR (Continued)




Year 2012Type of Bus per Owned or Additional Bus

Bus Description Model Year DOE "TN" Leased Cost1 Type D or equivalent 2013 D OWNED 636,282$ 2 Type A or equivalent 2013 A OWNED 70,698$

Total Additional Bus Costs 706,980$

ADDITIONAL BUS NEEDS FOR YEAR 2013SECTION II


(INCLUDING PORTIONS OF BUS CONTRACTS BEING SHIFTED TO THE BUS REPLACEMENT FUND PER I.C. 20-40-7-7)


1. If the School Corporation is seeking to acquire or contract for transportation services that will provide foradditional school buses or buses with a larger seating capacity as compared to the number and type of schoolbuses from the prior school year, explain for each additional bus, the circumstances of the demand for theincreased transportation services within the school corporation.

JUSTIFICATION:The student population of the Zionsville Community Schools increased significantly each of the past several school years.This growth is expected to continue at the present level or to increase. In 2009, we received the results of an updatedenrollment projection and demographic study conducted by Indiana University's Kelly School of Business. The studypredicted that our enrollment will continue to increase over the next ten years. Since the study was received, ourenrollment has grown by over 300 students, however no additional buses were added to our fleet in 2010 or 2011. Per theIU study we expect to see an additional 250 students by the beginning of the 2013-2014 school year, and must makesome modest increases in our fleet size and number of routes. We have already reduced our transportation service levelsrather than add buses in 2010-2011, but cannot continue to take this approach in the face of our continuing enrollmentgrowth. Accordingly, as shown in Section II of this plan, we intend to increase our fleet size by one Type "A" school busin 2013 to accommodate the growth in our special needs population and six Type "D" school buses in 2013 toaccommodate our growth in our general education student population. At our present rate of growth, which the IU studypredicts will continue for the foreseeable future, we expect that we will need to add additional buses to our fleet each year atleast through 2025.

2. If the School Corporation is seeking to replace an existing school bus earlier than twelve (12)years after the existing school bus was originally acquired or requires a contractor to replace aschool bus, explain for each bus, the circumstances for that need.

JUSTIFICATION:The school corporation does not plan to replace any bus less than twelve (12) years old for the year 2013. Howevercertain specific buses shown in the plan have in-service dates that differ from their respective model years. The actuallengths of time in service rather than model year designations have been used consistently throughout the plan todetermine actual age. Generally, buses are actually placed in service in the summer of the year prior to their model yeardesignation, and will have been operated for at least twelve years at the time of their scheduled replacement as shown.For those buses selected to be shown for replacement in years subsequent to the year 2013, as shown in the 2013through 2024 plan, these buses were so chosen based on the mileage and mechanical condition of those vehicles as wellas their age, per their actual in-service date, in the projected year of replacement. It is estimated that these buses willhave reached a combination of age, mileage, and mechanical condition by the respective years indicated that thereplacement of these buses will be required at that time.

Justification for Replacement and/or Additional Bus Purchases



SECTION III




01 2013 Bus Replacement Cost total from Section I 848,376$ 02 2013 Additional Bus Costs total from Section II 706,980$ 02 Appropriation Balance as of June 30th (Line 6 from the Line 2 Worksheet) 349,477$ 03 Additional Appropriations - July to December of Current Year -$ 04 Temporary Loans to be Repaid - December of Current Year -$ 05 Emergency Temporary Loans to be Repaid - Jan - June of Ensuing Year -$ 06 Total Appropriations (Add Lines 1, 2, 3, 4, and 5) 1,904,833$ 07 June 30 Current Year Cash Balance (to include investments) 351,983$ 08 Estimated Property Taxes to be Received - July 1 thru December 31 of Current Year 199,438$ 09 Estimated Miscellaneous Revenue (July - December of Current Year) 11,054$ 10 Estimated Miscellaneous Revenue (Jan - Dec of Ensuing Year) 38,180$ 11 Available Revenues (Add Lines 7, 8, 9 and 10) 600,655$ 12 Bus Replacement Needs (Subtract Line 11 from Line 6) 1,304,178$ 13 Total Allocations for Future Bus Purchases to be Carried to 2014 100,000$ 14 Bus Replacement Levy Required to Fund Plan (Add Lines 12 and 13) 1,404,178$ 15 Property Tax Replacement Credit (if applicable) -$ 16 Net Property Tax Levy Required (Subtract Line 15 from Line 14) 1,404,178$ 17 Tax Rate Required 0.0725$ 18 Tax Rate is based upon an estimated Assessed Valuation of : 1,936,847,280$

WORKSHEET FOR CALCULATION PURPOSES ONLYEXPENDITURES AND OTHER SOURCES OF REVENUE


Section 4

This section of our budget book shows our predicted revenues for 2013 and presents some background material to show the derivation of these figures. As always, we attempt to provide a plain language answer to the question “How much revenue will we have and where will it come from?” The primary sources of our funding are state funding for our General Fund, and local property taxes for the other major budgeted funds. We do receive some funding from excise taxes and miscellaneous sources as well. In looking at state funding for our General Fund, we should note as a result of the recession’s effect on the State of Indiana’s budget, the state has been forced to cut back on its funding of K-12 public education. Statewide, total funding was reduced by approximately $300 million in 2010 and $327 million in 2011. For 2012, the legislature enacted a new state funding formula that effectively locked in the total funding for public education at the 2011 level and made the 2011 cuts a permanent annual factor. (The “funding formula” is a complex calculation mandated by law that determines the exact amount each school corporation will receive in state aid. Please see the separate Special Focus session in Section 3 of this book for an in-depth look at the current school funding formula and its ramifications for our budget.) Zionsville Community Schools saw its funding reduced as a result of these state cuts by $1.5 million in 2010 and another $1.6 million in 2011, with this reduction being repeated again in 2012 and 2013 by virtue of its incorporation into the funding formula. Looking at this in another way, as shown in the chart on page 159, our per pupil funding for the General Fund will be lower in 2013 than it was in 2012 which in turn was the lowest in the past decade or so. The 2012 per pupil funding is $5,170.61. However, for 2013, this will decrease to $5,065.78. Going back ten budget years, we find that this is less than the per pupil funding we saw in 2003 when the per pupil amount was $5,156.04. However, the CPI has increased by 26.3% since January 2003. This means that 2003’s funding level, adjusted for inflation, would equate to $6,511.82 per student now, or over $1,446 more in buying power per child than we

2013 BUDGET:

REVENUES

How much revenue will we

have and where will it come

from?


will have in 2013. As our enrollment grows and we continue to add more students, we have fewer General Fund dollars per child to use to attempt to provide the same quality level of education.

This was obviously an untenable position. However, the good news is that the passage of an Operating Referendum in May 2012 will provide additional revenues to support our instructional expenditures. This new revenue, first available to the school corporation in the 2013 budget year, will provide an estimated $800 or so per pupil in additional funding. Depicted another way, we estimate that the Referendum Fund’s revenues, which will come from property taxes exempt from the circuit breaker cap, will enable ZCS to undertake instructional expenditures as if the General Fund were being funded at a level equal to approximately $5,870. The following chart shows the difference the additional funding makes at the per pupil level:

As shown, the additional Referendum revenues, when added to the General Fund’s per pupil funding, provide much needed help in closing the gap between shrinking revenues and increasing enrollments.

4,000

4,200

4,400

4,600

4,800

5,000

5,200

5,400

5,600

5,800

6,000

$4,000

$4,200

$4,400

$4,600

$4,800

$5,000

$5,200

$5,400

$5,600

$5,800

$6,000

2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013

Zionsville Community SchoolsGeneral Fund

Base Per Pupil Funding vs. Enrollment

Per Pupil Funding

Enrollment

4,000

4,200

4,400

4,600

4,800

5,000

5,200

5,400

5,600

5,800

6,000

$4,000

$4,200

$4,400

$4,600

$4,800

$5,000

$5,200

$5,400

$5,600

$5,800

$6,000

2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013


Base Per Pupil Funding vs. Enrollment

General Fund Per Pupil Funding

Referendum Per Pupil Funding

Enrollment


In addition to being the source of the funds for our Referendum Fund, property taxes are theprimary source of revenue for the other major budget funds: Debt Service, Pension Bond DebtService, Capital Projects, Transportation, and Bus Replacement. The State Form 4B’s for eachfund, as shown on pages 118 to 125 in Section 3 of this book show the computations that leadto the advertised revenues that are expected from property tax levies. The actual amounts,which are lower than the advertised forms, are shown in this section. The state budget formsdo not take into account the impact of the property tax circuit breaker. However, the propertytax circuit breaker losses do result in significant reductions in the revenues actually received.

The school corporation’s total loss of property tax revenue in 2010 exceeded $1.4 million. (Thisloss was partially offset by a one-time state grant of $407,000.) For 2012, the Boone CountyAuditor has certified that we will see a loss of $3,084,038. The 2011 actual loss, as measuredby the shortfall of property taxes received versus certified levies per our DLGF budget order,was $2,041,073. This number corresponds quite closely to the County Auditor’s certification forthat year of $2,154,000.

The actual 2011 shortfall amount was 81.0% of the loss that had been predicted by the H.J.Umbaugh Co. in a study completed for Boone County in August 2010. However, the 2012 lossnow expected per the Boone County Auditor’s certification is 108.1% of the Umbaugh study’sprojected number. For purposes of estimating our actual revenues in 2012 we assumed that wewould see a similar percentage each year, and therefore used a projection of $2,438,000 forthe 2012 loss, which was 85.5% of the Umbaugh study’s 2012 predicted amount. Given ournew information from the Boone County Auditor, which is based on actual data derived fromthe county’s tax billing records, we have increased the estimated loss for 2013 to 100% of theUmbaugh projection. (Note: a copy of the full Umbaugh report is available on our web site - seethe supplemental budget documents section.)

Although not properly a revenue, it must be recognized here that our recent debt restructuring,discussed in detail in Section 5 of this book, have a major mitigating effect on the revenue losswe will experience from the property tax circuit breaker in 2013. As shown on the proceeding

$-

$500,000.00

$1,000,000.00

$1,500,000.00

$2,000,000.00

$2,500,000.00

$3,000,000.00

$3,500,000.00

$4,000,000.00

2010 2011 2012 2013 2014

Circuit Breaker CreditsActual 2010 - 2012

and Estimated 2013-2014with Net Loss

after Debt Restructuring

Actual 2010 -2012

Umbaugh Study'sProjection

Expected Net Loss afterDebt Restructuring


chart, our annual savings on debt service for 2013, 2014, and 2015, respectively, will offset large portions of the revenue losses we would otherwise experience. For 2013, the debt service savings will be $3,004,338, with a projected tax cap circuit breaker loss of $3,504,840, the net loss is $500,502. This temporary effect, from which we will benefit again in 2014 and to a lesser extent in 2015, allows us to conduct our financial projections and planning for strategic purposes as if the 2013 revenue losses in property taxes were only $500,502. In reviewing the property tax circuit breaker losses, it is important to note that these losses in 2013 will not affect or be attributed to the Referendum, Debt Service, or Pension Debt Service Funds. Although all of these funds’ revenues are primarily from property taxes, they will not have any of the shortfall generated by the property tax caps recognized as being attributable to them. The Referendum Fund, by state law, is outside the property tax caps and is exempt from the circuit breaker calculations. Its entire levy is not considered at all when circuit breakers losses are calculated. By contrast, the debt service funds are under the property tax caps and do have their levies included in the calculation of circuit breaker credits to property owners. Under the provisions of a newly enacted statute, the debt service funds are now deemed “protected” and cannot have their levies reduced because of the circuit breaker. However, the law provides that any share of the circuit breaker losses caused by the debt service levies must be allocated to the Capital Projects Fund, Transportation Fund, and Bus Replacement Fund in pro-rated amounts. Essentially, debt service funds can help cause a circuit breaker loss, but cannot experience any of that loss. Overall, in looking at our predicted revenue, the reader is advised that the official State Form 2 shown on pages 93 to 101 in the Section 3 of this book does contain our official budgeted revenues for 2013 from all sources except property taxes. The DLGF does not deal with property tax levies on State Form 2 at all. Those revenues which are shown on Form 2 reflect our expectation of the actual figures we will receive in 2013 for the revenue items listed on the form, and it may be relied upon as a fair depiction of both advertised and actual expected revenues for the revenue areas within its scope. As noted previously, the State Form 4B’s for each fund, as shown on pages 118 to 125 in Section 3 of this book, show the computations that lead to the advertised revenues expected from property tax levies. However, the actual expected amounts, which are lower than the advertised forms, are shown in this section. The amounts on the Form 4B’s are calculated based on the advertised appropriations, not on the amounts which it is believed the DLGF will ultimately approve. This section of the budget book contains several detailed exhibits to illustrate and document our expected revenues for 2013. First, a chart (page 164) shows the 2013 estimated revenues for each of the funds by source. To give a better perspective on our revenues in a historical context, a second chart (page 165) shows the total revenues for each fund with 2013’s projections compared to our current estimates for 2012 and the actual revenues received in 2011, 2010, and 2009. Following the summary comparison chart is a full printout beginning on page 166 of the Indiana Department of Education’s entire funding formula model for 2013 for Zionsville Community


Schools. The printout from DOE’s computer model shows the projected revenue amounts for the 2013 budget for the General Fund, and has a comparison to our expected amounts for 2012. The next exhibit, page 173, is a copy of the latest State Form DPI-54 which documents our state aid received to date and the amounts expected for the remainder of 2013. This form is provided to allow a comparison to the amounts shown for the various state aid categories in the 2013 versus 2012 comparison table in the funding model printout. After the DOE printouts regarding the General Fund revenues, page 174 shows a table showing the estimated amount of property tax levies for 2013 for each of property tax supported funds. The table is intended to show the differences between the advertised amounts (per the State Form 4B’s) and the actual amounts expected net of the circuit breaker losses and net of reductions to the advertised levies that we expect to occur in the DLGF’s budget approval process. The final exhibits in this section are full-size versions of the charts shown earlier in this narrative to allow the reader a better view of this material. Overall, we expect a small increase in revenue for the General Fund from the state’s school funding formula in 2013. As shown, the model predicts we will receive less than $238,475 more than in 2012, about three-fourths of 1%, for 2013. This is due to our expected enrollment growth. Even though we will see a drop in our Basic Tuition Support, per the funding formula, from $5,170.61 per pupil in 2012 to $5,065.78 in 2013, we expect an increase in enrollment of nearly 3% or so for the 2012-2013 school year. The juxtaposition of a 3% increase in enrollment versus a 0.75% increase in funding only serves to underscore the point made earlier about increasing enrollment trends versus declining per pupil support. Please see the Special Focus discussion (Section 3 of this book) for a more detailed analysis of the school funding formula. In addition to the funding formula, the General Fund should also see a small increase in its grant amount for Full-Day Kindergarten. Although final numbers for 2012 are not yet available, we expect to receive approximately $1,044,000 in 2012, and project that continuing increases in enrollment in this new program will provide $1,075,320 for 2013. For our tax-supported funds, these funds will receive revenues as determined by the applicable state controls, and are then subject to the circuit breaker losses as described above. The Capital Projects Fund (CPF) has its rate fixed by the State, and will see funding increases in local property taxes only to the extent that our average assessed valuation (AV) shows a real increase (after adjustments for Trending) for 2013 and the three preceding years. The Transportation Fund has a controlled levy that can increase only according to the formulas and procedures dictated by state statute. For 2013, DLGF has set that increase at 2.8%, and we have used that figure for planning purposes in this book. The Debt Services Funds will be allowed by DLGF to receive only the levy amounts needed to make the required debt service payments.


The Bus Replacement Fund is subject to a levy cap of $744,575 for 2012 imposed by the DLGF according to their methodology adopted to implement a statute passed in the 2011 session of the legislature. This amount will be incremented by DLGF for 2013 by the same 2.8% determined per DLGF’s procedures for the Transportation Fund. However, a new law passed by the legislature in its 2012 session also affects the Bus Replacement Fund’s levy in a way that likely will increase this amount temporarily over the next three years. Details as to how DLGF will implement this interaction between these two statutes should be forthcoming later this fall. The plain answer to the question “How much revenue will we have and where will it come from?” is that the General Fund will receive about $34.5 million in 2013, with about $33 million in revenues coming from state aid. Program support fees (also commonly referred to as “Pay-to-Participate”) will provide about half of the one million dollars expected from local sources, with the General Fund’s remaining revenues coming from interest earnings, fees from renting our facilities, and other miscellaneous items. The Debt Service Fund will receive about $20 million. About $1 million of this will come from excise taxes, with the rest coming from local property taxes. The Referendum Fund will receive approximately $4.7 million, with about $240,000 of this provided by excise taxes and the remainder from property taxes. Looking at the other tax-supported funds, the Capital Projects Fund (CPF) will see revenues of approximately $3.5 million from local property taxes and about $200,000 or so from excise taxes and other miscellaneous sources. The Transportation, Fund will receive about $2.7 million in property taxes and approximately $157,000 from excise taxes and miscellaneous sources. The Bus Replacement, and Retirement/Severance Bond Debt Service, will receive combined totals of $1,160,000 from local property taxes and approximately $75,000 from excise taxes and other miscellaneous items. Some additional reduction in the revenues from property taxes will almost certainly occur as the portion of circuit breaker losses that would otherwise accrue to the debt service funds are redistributed to the CPF, Transportation, and Bus Replacement Funds as described earlier, however, this will be largely offset by debt service savings mentioned above. We believe the net effect will be the equivalent of CPF and the Transportation Fund each receiving approximately $250,000 less than the amounts projected above. The Rainy Day Fund, which is included in the budget documents but has no state funding or tax levy, will have revenues only from interest earnings or other miscellaneous sources. In summary, the grand total of all revenues for our budgeted funds for 2013 from all sources is expected to be approximately $65.1 million.


$-

$5,000,000.00

$10,000,000.00

$15,000,000.00

$20,000,000.00

$25,000,000.00

$30,000,000.00

$35,000,000.00

2013 Projected Revenues by Fund and Source

State Aid + Stimulus

Property Taxes

Excise & FIT

Other


$-

$3,000,000.00

$6,000,000.00

$9,000,000.00

$12,000,000.00

$15,000,000.00

$18,000,000.00

$21,000,000.00

$24,000,000.00

$27,000,000.00

$30,000,000.00

$33,000,000.00

$36,000,000.00

2009 2010 2011 Estimated 2012 Projected 2013

2013 Projected Revenues by FundCompared to Prior Years

General Fund+Stimulus

Debt Service Fund

Pension Bond Debt Service Fund

Capital Projects Fund

Transportation Fund

Bus Replacement Fund

Rainy Day Fund

Referendum Fund


0630 - Zionsville Community Schools

2013 STATE TUITION SUPPORT WORKSHEET


2012 Basic Tuition Support (DOE SA54 Tuition Support, First Column) $28,779,520.002012 Honors Diploma Grant $202,500.002012 Special Education Grant $2,400,552.002012 Career and Technical Education Grant $64,950.002012 Prime Time Grant $389,881.00

2011-2012 ADM 5,565.962012-2013 ADM 5,722.502012-2013 K-3 ADM 1,561.50

Number of Students who received an academic honors diploma in 2011-2012 school year 224

Number of students who received a Core 40 diploma with technical honors in the 2011-2012school year

1

Percent of Students Eligible for Free and Reduced Lunch in 2010-2011 (non-census) 0.0503

2012-2013 Special Education Severe Disabilities Pupil Count 1222012-2013 Special Education Mild and Moderate Disabilities Pupil Count 4442012-2013 Special Education Communication and Homebound Pupil Count 3242012-2013 Special Education Preschool Count 74

2013 Amount of allowable expenditures for utility services and property and casualty insurance $915,598.10

2012-2013 Career and Technical Education Total Student Credit HoursMore Than Moderate Labor Market Need/High Wage 96More Than Moderate Labor Market Need/Moderate Wage 30More Than Moderate Labor Market Need/Less than Moderate Wage 0Moderate Labor Market Need/High Wage 0Moderate Labor Market Need/Moderate Wage 0Moderate Labor Market Need/Less Than Moderate Wage 0Less Than Moderate Labor Market Need/High Wage 17Less Than Moderate Labor Market Need/Moderate Wage 0Less Than Moderate Labor Market Need/Less Than Moderate Wage 0Total Area Participation Student Count 36Student Count for All Other Approved Career and Technical Education Programs 0


$28,779,520.00Previous Year

Revenue

5,565.962011-2012 Adj. ADM

5,722.502012-2013 Adj. ADM

0.0250round 4 places

not less than zero

1.0250

0.0000

1.0250Complexity Index

$4,515.13

SECTION: APREVIOUS YEAR REVENUE

IC 20-43-3-4Section A applies to school corporations and charter schools. Does not apply to virtual charter

schools.Unless otherwise noted, all calculations round to 2 places.

1. 2012 Basic Tuition Support (DOE SA54 Tuition Support)

SECTION: BADJUSTED 2012-2013 ADM

IC 20-43-4-71. Actual 2011-2012 ADM

2. Actual 2012-2013 ADM

Note: For 2011-2012 and 2012-2013, the actual ADM is the Adjusted ADM.

SECTION: CTRANSITION TO FOUNDATION REVENUE

IC 20-43-5-3 thru 7; IC 20-43-6-3Section C applies to school corporations, charter schools and virtual charter schools.

If the calculation is for a school corporation or a charter school beyond the first year of operation, complete alllines.

If the calculation is for a charter school in the first year of operation that is not located in Marion County, lines 8-12 do not apply. The Line 13 amount is the Line 13 for the school corporation where the charter school is located.Complete line 14.

If the calculation is for a charter school in the first year of operation that is located in Marion County, lines 8-13do not apply. The Line 14 amount is the weighted average of the Line 13 amounts of the school corporation wherethe student resides.

All Charter Schools must complete Lines 1-7. Virtual Charter Schools complete Lines 1-7 and Section C1. Unless otherwise noted, all calculations round to 2 places.

Foundation Calculation

All calculations on line 1-4 are rounded 4 places

1. 0.0503 multiplied by .4972 ($2,190/$4,405 = .4972)Percentage of school corporation's students eligiblefor free or reduced lunch in the 2010-2011 school year (rounded 4 places)

2. 0.0250 plus 1Line 1 Amount

If the line 2 result is equal to or greater than 1.31, complete line 3 and the applicable remaining lines in Section C.If the line 2 result is less than 1.31, omit line 3 and move line 2 amount to line 4.

3. 0 minus 1.31Line 2 Amount

4. 1.0250 plus0.0000Line 2 Amount Line 3 Amount

Unless otherwise noted, all calculations in the remainder of this section are rounded to 2 places

5. 1.0250 multiplied by $4,405Working Document - 2013 Budget - Page 167

$26.21

$4,541.34School Foundation

Amount

$5,449.61

$5,170.63Previous Yr. Rev.

per Adjusted ADM

$5,170.63

-$629.29may be negativeUnadjusted Amt

Remainingto Target Revenue

Amount

$5,065.75

$28,988,754.002013 Basic TuitionSupport (Round to

Whole Dollars)

$0.00

$0.00

Line 4 Amount

6. Target Adjustment If the 2012-2013 ADM < 500, 0 If the 2012-2013 ADM between 500 and 1,000, $150 If the 2012-2013 ADM greater than 1,000, $150,000 divided by 2012-2013 ADM

7. $4,515.13plus$26.21Line 5 Line 6

8. $4,541.34 multiplied by 1.2School Foundation Amount Line 7

9. $28,779,520.00 divided by5565.96Prev. Year Revenue,Section A, Line 1

2011-2012 Adj. ADMSection B, Line 1

10. Lesser of Line 8 or Line 9

11. $4,541.34 minus$5,170.63School FoundationAmount Line 7 Line 10 Amount

Transition to Foundation CalculationI.C. 20-43-5-6

If the Line 11 Amount is less than $0, complete Line 12A below.If the Line 11 Amount is greater than or equal to $0, complete Line 12B below.

12. A. IF the Line 11 Amount is less than $0

1. $629.29 divided by 6Absolute value of Line 11

$104.88

2. $5,170.63 minus $104.88Line 10 Amount Line 12A(1) Amount

$5,065.7512A2 Amount

B. IF the Line 11 amount is greater than or equal to $0 0Line 7 Amount

13. Select: 2013 Transition to Foundation per Adjusted ADM Section C, Line 12(A)(2) if applicable Section C, Line 12(B) if applicable

14. $5,065.75 multiplied by5722.5Line 13 Amount 2012-2013 Adj. ADM

(Section B, Line 2)

SECTION: C1Virtual Charter Schools

IC 20-24-7-13To be completed by Virtual Charter Schools only.

1. 0 multiplied by 87.5%School Foundation Amt(Sec. C, Line 7)

2. 0 multiplied by0Line 1 amount 2012-2013 Virtual

Charter ADM


$201,600.00

$900.00

$202,500.00

$1,018,700.00

$1,005,660.00

$172,692.00

$203,500.00

$2,400,552.00

SECTION: DHONORS DIPLOMA GRANT

IC 20-43-10-1 and 2Section D applies to school corporations and charter schools. Does not apply to virtual


(Use unduplicated honors counts)1. 224.00 multiplied by $900

Number of students who received an academic honorsdiploma in 2011-2012 school year

2. 1.00 multiplied by $900Number of students who receivedCore 40 diploma with technicalhonors in2011-2012 school year

3. Sum of Line 1 plus Line 2

SECTION: ESPECIAL EDUCATION GRANT

IC 20-43-7-6Section E applies to school corporations, charter schools, and virtual charter schools.

Unless otherwise noted, all calculations round to 2 places.1. $8,350 multiplied by122.00

2012-2013 Severe Disabilities Pupil Count 2. $2,265 multiplied by444.00

2012-2013 Mild and Moderate Disabilities Pupil Count

3. $533 multiplied by324.002012-2013 Communication and Homebound Pupil Count

4. $2,750 multiplied by74.002012-2013 Special Education PreschoolProgram Pupil Count

5. 2013 Special Education GrantAdd Lines 1, 2, 3, and 4

SECTION: FCAREER AND TECHNICAL EDUCATION GRANT

IC 20-43-8-2 and IC 20-43-8-9Section F applies to school corporations and charter schools. Does not apply to virtual charter


1. More Than Moderate Labor Market Need/High Wage96.00 multiplied by $450Total Student Credit Hours

$43,200.00

2. More Than Moderate Labor Market Need/Moderate Wage30.00 multiplied by $375Total Student Credit Hours

$11,250.00

3. More Than Moderate Labor Market Need/Less than Moderate Wage0.00 multiplied by $300

$0.00


$54,450.00

$0.00

$5,100.00

$5,400.00

$0.00

$64,950.00

1.0250round to four places






4. Total Funding More Than Mod. Labor Market Need

5. Moderate Labor Market Need/High Wage0.00 multiplied by $375Total Student Credit Hours

$0.00

6. Moderate Labor Market Need/Moderate Wage0.00 multiplied by $300Total Student Credit Hours

$0.00

7. Moderate Labor Market Need/Less Than Moderate Wage0.00 multiplied by $225Total Student Credit Hours

$0.00

8. Total Funding Mod. Labor Market Need

9. Less Than Moderate Labor Market Need/High Wage17.00 multiplied by $300Total Student Credit Hours

$5,100.00

10. Less Than Moderate Labor Market Need/Moderate Wage0.00 multiplied by $225Total Student Credit Hours

$0.00

11. Less Than Moderate Labor Market Need/Less Than Moderate Wage0.00 multiplied by $150Total Student Credit Hours

$0.00

12. Total Funding Less Than Mod. Labor Market Need

13. Area participation count36.00multiplied by $150

14. All Other Career and Technical Education Programs0.00 multiplied by $250Student Count

15. 2013 Career and Technical Education GrantAdd Lines 4, 8, 12, 13, and 14

SECTION: GPRIME TIMEIC 20-43-9

Section G applies to school corporations and charter schools. Does not apply to virtual charterschools.

Unless otherwise noted, all calculations round to 2 places.1. Complexity Index

Section C, Line 4

If the Complexity Index is greater than or equal to 1.1 and less than 1.3 complete lines 2 through 5, otherwise continuecalculation on line 6.

2. 1.3 minus 0Adjusted Complexity IndexLine 1 Amount

3. 0 divided by 0.2Line 2 Amount

4. 0 multiplied by 3Line 3 Amount

5. 0 plus 15Line 4 Amount

ADJUSTED COMPLEXITY INDEX TARGET PUPIL/TEACHER RATIOWorking Document - 2013 Budget - Page 170

18.0000

1,561.50

86.7500(round to four places)

$3,799.31

$5,932,622.57

79.63


not less than zero

$530,440.00

$530,440.00

$419,122.08

$419,122.002013 Prime Time

Grant

$28,988,754.00

less than 1.1 18:1greater than or equal to 1.1

and less than 1.3 Line 5 Amountequal to or greater than 1.3 15:1

6. Select Target Pupil/Teacher Ratio from Chart Above

7. 2012-2013 Grade K-3 ADM

8. 1,561.50 divided by 18.0000Line 7 Amount Target Pupil/Teacher Ratio

Line 6 Amount

9. $28,988,754.00 multiplied by.75 $21,741,565.50 divided by 5,722.50

Section C Line 14 2012-2013 ADM

10. $3,799.31 multiplied by 1,561.50Line 9 Amount Line 7 Amount

11. $5,932,622.57 divided by $74,500Line 10 Amount

12. 86.7500 minus 79.63Line 8 Amount Line 11 Amount

13. 7.1200 multiplied by$74,500Line 12 Amount

14. Greater of $530,440.00 or zero Line 13

15. $389,881.00 multiplied by 1.075 (107.5%)2012 Prime Time Grant

Charter Schools: If the line 15 amount is zero move the line 13 amount to line 16.

16. Lesser of Line 14 or Line 15

SECTION: HCALCULATION OF ALLOWABLE EXPENDITURES FROM THE 2013 CAPITAL PROJECTS FUND

FOR UTILITY SERVICES AND PROPERTY AND CASUALTY INSURANCEIC 20-40-8-19

The Calculation of Expenditures from the 2013 Capital Projects Fund applies to schoolcorporations.

The Section M Line 9 amount from the 2007 worksheet is the allowable expenditure from the 2013 CPF for utility services andproperty and casualty insurance. Expenditures for utility services from the CPF will be charged to account number 26200 usingobjects 621, 622, 623, 624, 411, 625, 626, 412, and 419 and expenditures for property and casualty insurance from CPF will becharged to account 26700 using object 520 and when totaled will not exceed the Section M Line 9 amount from the 2007worksheet. The maximum 2013 amount is three and five-tenths (3.5%) of the school corporation’s 2005 calendar year distribution.Amount: $915,598.10Remember to advertise and adopt a Capital Projects Fund budget, rate, and levy that are sufficient for anadjustment to the rate cap for utilities and property and casualty insurance.

SECTION: I2013 STATE TUITION SUPPORT

Section I applies to school corporations and charter schools.1. Basic Tuition Support

Section C, Line 14 orSection C1, Line 2 (Virtual Charter Schools)


$202,500.00

$2,400,552.00

$64,950.00

$419,122.00

$32,075,878.00

8/23/2012 9:28:29 AM Basic Grant Worksheet Simulation Created By 0630 - Zionsville Community Schools

2. Honors Diploma GrantSection D, Line 3

3. Special Education GrantSection E, Line 5

4. Career and Technical Education GrantSection F, Line 15

5. Prime Time GrantSection G, Line 16

6. TOTAL FUNDINGAdd Lines 1, 2, 3, 4, and 5

SECTION: JFUNDING COMPARISION

The Funding Comparision applies to school corporations and charter schools.State Support 2012 2013 Funding Inc/Dec Pct

1. Basic Tuition Support $28,779,520.00DOE SA54

$28,988,754.00Section C, Line 14

a. Virtual Charter Schools $0.00DOE SA54

$0.00Section C1, Line 2

2. Honors Diploma Grant $202,500.00DOE SA54

$202,500.00Section D, Line 3

3. Special Education Grant $2,400,552.00DOE SA54

$2,400,552.00Section E, Line 5

4. Career and Technical Education $64,950.00DOE SA54

$64,950.00Section F, Line 15

5. Prime Time Grant $389,881.00DOE SA54

$419,122.00Section G, Line 16

6. Formula Funding $31,837,403.00 $32,075,878.00Add Lines 1, 2, 3, 4, and 57. Less Funding Reduction $0.00 $0.008. Total Funding $31,837,403.00 $32,075,878.00 $238,475.00 0.75Line 6 minus Line 7


School Finance Application Center

Logout Help Corporation Reports - 54 Report

Payment Year: 2012

Payment Date: July 16, 2012

The requested report is from the most current payment that has been made.0630 - Zionsville Community Schools DOESA542 - Indiana Department of Education - Division of School Finance - July 16, 2012

2012 BASIC GRANT MONTHLY DISTRIBUTION

PaymentDate

1/17/20122/15/20123/15/20124/16/20125/15/20126/15/20127/16/20128/15/20129/17/2012

10/15/201211/15/201212/17/2012

Total

TuitionSupport

$2,398,293.33$2,398,293.33$2,398,293.34$2,398,293.33$2,398,293.34$2,398,293.33$2,398,293.33$2,398,293.33$2,398,293.34$2,398,293.33$2,398,293.34$2,398,293.33

$28,779,520.00

HonorsGrant

$16,875.00$16,875.00$16,875.00$16,875.00$16,875.00$16,875.00$16,875.00$16,875.00$16,875.00$16,875.00$16,875.00$16,875.00

$202,500.00

SpecialEducation

Grant$193,669.33$200,486.33$200,486.34$201,878.00$201,878.00$201,878.00$200,046.00$200,046.00$200,046.00$200,046.00$200,046.00$200,046.00

$2,400,552.00

VocationalEducation

Grant$5,412.50$5,412.50$5,412.50$5,412.50$5,412.50$5,412.50$5,412.50$5,412.50$5,412.50$5,412.50$5,412.50$5,412.50

$64,950.00

PrimeTimeGrant

$32,490.08$32,490.08$32,490.09$32,490.08$32,490.09$32,490.08$32,490.08$32,490.08$32,490.09$32,490.08$32,490.09$32,490.08

$389,881.00

RestorationGrant

$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00

SmallSchoolsGrant

$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00

Total BasicGrant

$2,646,740.24$2,653,557.24$2,653,557.27$2,654,948.91$2,654,948.93$2,654,948.91$2,653,116.91$2,653,116.91$2,653,116.93$2,653,116.91$2,653,116.93$2,653,116.91

$31,837,403.00

TotalPayment

$2,646,740.24$2,653,557.24$2,653,557.27$2,654,948.91$2,654,948.93$2,654,948.91$2,653,116.91$2,653,116.91$2,653,116.93$2,653,116.91$2,653,116.93$2,653,116.91

$31,837,403.00-- Plus Adjustments -- -- Minus Adjustments --

PaymentDate

1/17/20122/15/20123/15/20124/16/20125/15/20126/15/20127/16/20128/15/20129/17/2012

10/15/201211/15/201212/17/2012

Total

PreviousYear

$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00

Appropriation/SpendingAuthority

Reimbursement$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00

Other$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00

Total PlusAdjustments

$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00

VeteransMemorial

$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00

CommonSchool

$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00

PreviousYear

$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00

Appropriation/ SpendingAuthority

Reductions$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00

Other$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00

Total MinusAdjustments

$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00

PAYMENTS JAN-JUN JUL-DEC TOTALSTOTAL BASIC GRANT$15,918,701.50 $15,918,701.50 $31,837,403.00PREVIOUS YEAR + $0.00 $0.00 $0.00OTHER +ADJUSTMENTS $0.00 $0.00 $0.00

TOTAL +ADJUSTMENTS $0.00 $0.00 $0.00

VETERANSMEMORIAL $0.00 $0.00 $0.00

COMMON SCHOOL $0.00 $0.00 $0.00PREVIOUS YEAR - $0.00 $0.00 $0.00OTHER -ADJUSTMENTS $0.00 $0.00 $0.00

TOTAL -ADJUSTMENTS $0.00 $0.00 $0.00

TOTAL PAYMENTS $15,918,701.50 $15,918,701.50 $31,837,403.00

CALCULATION OF STATE SUPPORT PER RESIDENT ADMA. RESIDENT ADM FALL 2011 5,565.96B. TUITION SUPPORT $28,779,520.00C. TUITION SUPPORT PER ADM $5,170.63D. PRIME TIME GRANT $389,881.00E. PRIME TIME PER K-3 ADM $260.70* Reflects Actual Reduction# Reflects Estimated Reduction

Corporation Information

Worksheet Estimation 54 Report

Non-Distributions


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SubtotalDebt PB Debt Capital Bus Funds

Service Service Projects Transportation Replacement Subject to ReferendumESTIMATED ACTUAL 2013 LEVIES Fund Fund Fund Fund Fund Circuit Breaker Fund Totals

1 Advertised Levy Per Form 4B Computation 19,308,237$ 759,342$ 6,049,829$ 3,368,286$ 1,404,178$ 30,889,872$ 5,054,215$ 35,944,087$ 2 Levy Controls to be Applied: Actual Cost Actual Cost Capped Rate Capped Levy Capped Levy3 Expected DLGF Adjustments:

Debt Service - Adjust to Actual per Debt Service Worksheet (235,468) - (235,468)$ CPF - Adjust to Levy Per Capped Rate (2,015,802) (2,015,802)$ Transportation - Adjust to Levy per Levy Cap (274,149) (274,149)$ Bus Replace - Adjust to Levy per Levy Cap and Pension Bond Neutrality (828,590) (828,590)$ Referendum Fund - Adjust to Levy Per Preset Rate (320,560) (320,560)$

4 Total Estimated Actual Levies 19,072,769 759,342 4,034,027 3,094,137 575,588 27,535,863$ 4,733,655 32,269,518

ESTIMATED EFFECT OF CIRCUIT BREAKER LOSSES6 Percentage of Total Levy 69.3% 2.8% 14.7% 11.2% 2.1%7 Expected Circuit Breaker Loss (90% of Umbaugh Study #) 3,504,840 3,504,840 3,504,840 3,504,840 3,504,840

8 Pro-Rata Share of Circuit Breaker Loss 2,427,635 96,651 513,462 393,830 73,262 3,504,840

ESTIMATED ACTUAL 2013 PROPERTY TAX REVENUES (Line 4 minus Line 8) 16,645,134$ 662,691$ 3,520,565$ 2,700,307$ 502,326$ 4,733,655$ 28,764,678$

Zionsville Community SchoolsComparative Estimates of Actual 2013 Property Tax Levies to be Received


$4,000

$4,200

$4,400

$4,600

$4,800

$5,000

$5,200

$5,400

$5,600

$5,800

$6,000

2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013


Base Per Pupil Funding


$4,000

$4,200

$4,400

$4,600

$4,800

$5,000

$5,200

$5,400

$5,600

$5,800

$6,000

2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013

Zionsville Community SchoolsGeneral Fund and Referendum Fund

Base Per Pupil Funding

Per Pupil Funding

Per Pupil Funding from Referendum


$-

$500,000.00

$1,000,000.00

$1,500,000.00

$2,000,000.00

$2,500,000.00

$3,000,000.00

$3,500,000.00

$4,000,000.00

2010 2011 2012 2013 2014

Circuit Breaker CreditsActual 2010 - 2012

and Estimated 2013-2014 with Net Loss

after Debt Restructuring

Actual 2010 -2012

Umbaugh Study's Projection

Expected Net Loss after Debt Restructuring


Section 5

2013 BUDGET:

EXPENDITURES

How much will we spend and

what will we spend it on?

This section of our budget book shows our predicted expenditures for 2013 and presents various documents, exhibits, charts, and other items to show how these expenditures were estimated. As has been our longstanding practice in prior years’ budget books, we attempt to provide a plain language answer to the question “How much will we spend and what will we spend it on?”

DISCLAIMER: THE ESTIMATED EXPENDITURES, PROJECTIONS OF COSTS, TAX RATES, LEVIES, AND APPROPRIATIONS, AND ALL OTHER INFORMATION AND DATA PRESENTED IN THIS BOOK ARE PROVIDED HEREIN FOR INFORMATIONAL OR ANALYTICAL USE ONLY AND MAY NOT BE USED FOR ANY OTHER PURPOSE. THE STATE FORMS SHOWN IN SECTION 1 OF THIS BOOK (STATE FORMS 1 THROUGH 4B, THE CAPITAL PROJECTS PLAN, THE BUS REPLACEMENT PLAN, AND ALL OTHER STATE REQUIRED RELATED DOCUMENTS) CONSTITUTE THE OFFICIAL 2013 BUDGET OF THE ZIONSVILLE COMMUNITY SCHOOLS. DIFFERENCES BETWEEN THE AMOUNTS SHOWN ON THE OFFICIAL STATE FORMS AND DOCUMENTS AND THE OTHER PAGES OR DOCUMENTS IN THIS BOOK, IF ANY, ARE SPECULATIVE, BASED ON ASSUMPTIONS ABOUT CERTAIN FUTURE EVENTS, AND CANNOT BE CONSTRUED AS CONTRADICTIONS OF OR DISCREPANCIES IN OR WITH THE OFFICIAL BUDGET. FURTHER, THE PROJECTIONS AND ESTIMATES SHOWN, WHILE BASED ON THE MOST CURRENT INFORMATION AVAILABLE AT THE TIME OF THEIR FORMULATION, ARE SUBJECT TO UNKNOWN OR UNEXPECTED EVENTS AND CONTINGENCIES AT ANY TIME DURING THE BUDGET YEAR. THE ACTUAL FINANCIAL RESULTS ACHIEVED MAY THEREFORE BE MATERIALLY DIFFERENT FROM THE PROJECTIONS AND ESTIMATES SHOWN.

As shown in the above disclaimer, it is strongly emphasized that in this book we have attempted to make a very clear delineation between the amounts we have advertised and published in our official budget and the amounts we actually expect to spend in 2013. The official budget will be submitted to the State of Indiana’s Department of Local Government Finance (as shown on the


state forms in Section 1 of this book) for that agency’s approval. The amounts shown in this section are those that by the end of the 2013 budget year we believe we will have had to expend. The actual estimated amounts in this section of the book are not necessarily the same for each of the 2013 expenditure or appropriation items and categories as are shown for the same expenditure or appropriation items and categories in the first section of this book. In many case the differences are material. In looking at our expected 2013 expenditures, we have considered carefully what, to the best of our understanding, is the current set of implementations and procedures used by the Indiana Department of Local Government Finance (DLGF) as that agency interprets and applies the various rules, regulations, and statutes that control the budgets of public school corporations. The various amounts in this section of the book reflect our estimates of what we believe are the most likely actions by DLGF and the outcomes of their state level review and approval process. Other considerations which greatly influence our estimates and projections of 2013’s expenditures include contractual obligations to employees (specifically including our collective bargaining agreement with the Zionsville Educators’ Association), vendors, suppliers, and other contractors, as well as expected costs for various specific areas discussed in detail in the subsections regarding debt service, capital projects, transportation, and bus replacement. The 2012-2013 school year, and consequently the 2013 budget year, will see a marked departure from the previous years in spending for instruction. Over the past several cycles we were forced to reduce teaching staff and eliminate a number of instructional programs. Zionsville Community Schools began downsizing in 2008 and continued to do so through the 2011-2012 school year. State funding for school corporations across Indiana, as a result of the economic recession, was reduced by over $300 million each in 2010, 2011, and 2012. Zionsville Community Schools’ share of these cuts, which directly reduced our General Fund revenues, was over $1.5 million in 2010, over $1.6 million in 2011, and over $1.6 million again for 2012. Two key events in the spring of 2012 have now occurred that led us to reverse this trend for the 2012-2013 school year and beyond. First, an operating referendum was approved by the voters of our community. The referendum allows the school corporation to raise an annual levy of approximately $4.7 million for each of the next three budget years in support of our educational expenditures. As shown on State Form 1, our plan is to dedicate all of the referendum levy proceeds in their entirety to pay teacher salaries and benefits. The additional staffing this extra funding represents allows us to lower our class sizes to acceptable levels and restore a number of programs that had been eliminated due to budget cutbacks. These expenses would not be sustainable from our General Fund, but are now possible due to the Referendum Funding. The other major event is the State of Indiana’s widely publicized decision to increase the funding available for full-day kindergarten. Contrary to a number of reports in the popular news media, full-day kindergarten is still not fully funded by the state. However, the action of the 2012 session of the legislature to increase the funding for grants to school corporations to pay for this program did greatly reduce the funding gap between program costs and state funding. Zionsville Community Schools has chosen to take advantage of this increased funding to offer a full-day kindergarten for the first time in our school district. The exact amount of funding we will receive is contingent upon the final head count of children who enroll in the program for the


2012-2013 school year. Our estimate as of this writing is that we will receive somewhere in the range of $1 million to $1.1 million in state funding from the new full-day kindergarten grant, with the figure of $1,075,320 being used for forecasting purposes in the proposed 2013 budget. It should be noted that the funding from the successful operating referendum, which is accounted for in a separate Referendum Fund, will not begin to become available until the June 2013 property tax settlement. However, for the 2012-2013 school year, to re-hire the number of teachers we are recalling from previous year layoffs, as well as to address the restoration of eliminated programs and to initiate the new full-day kindergarten program, the school corporation is experiencing significant cost increases beginning in the fall of 2012. To bridge our budget to the point that referendum funding does become available, it is necessary to make significant expenditures from our Rainy Day Fund in both 2012 and the first half of 2013. These expenditures, like the Referendum Fund expenditures, will go entirely to pay teacher salaries and benefits for our instructional programs. For 2013 we estimate that $1.05 million will be required from the Rainy Day Fund for these purposes. This amount is reflected in the budget for 2013 for the Rainy Day Fund. To summarize, the plain language answer to the question “How much will we spend and what will we spend it on?” is this: The General Fund itself will need to spend about $34.6 million in 2013. However, this amount will be supplemented by the $4.7 million to be spent from the Referendum Fund and the $1.1 million to be spent from the Rainy Day Fund, all to go for teacher pay and teacher payroll/benefits costs as described above. The additions of a large number of teachers for 2012-2013, with a dozen or so added for the new full-day kindergarten program added to the restoration of 26 of the teaching positions eliminated in the reductions in force that occurred at the end of the 2010-2011 school year, cause the grand total of expenses for the General Fund combined with the Rainy Day Fund and the Referendum Fund, to be higher than in the 2012 budget year. Taken together, the General Fund expenditures plus the Referendum and Rainy Day Fund expenditures in 2013 will be spent primarily on personnel costs, with this category taking approximately 87% of the combined expenditures for these three funds in 2013, although the Rainy Day and Referendum Fund expenditures will each be 100% used for teacher personnel costs. Other items to be provided by the General Fund include contracted services, supplies and materials, a portion of utilities and property insurance, and other costs. The Debt Service Funds will spend approximately $18.4 million. All of this will go for principal and interest costs for our outstanding bond issues. More information on debt service is presented in a subsection on this topic. The Capital Projects Fund (CPF) will spend about $1.3 million for personnel costs. Other significant costs to be covered by this fund included $915,000 for property insurance and utility costs, and about $875,000 for contractual services, including maintenance contracts, software subscriptions and maintenance, energy savings contracts, and miscellaneous areas. The remainder of the estimated total expenditure of $4.3 million will go to repair or replacement projects in our buildings and some equipment needs. However this remaining amount, $952,000, will not be sufficient to cover all needed building repairs and renovations as recommended by our maintenance department. In particular, we expect to be required to replace the roof at Zionsville Community High School in phases over a three-year period. Details


of the fund’s expected costs and the facility needs listing of those items and areas we will address in 2013, as prioritized by our maintenance department with input from building and central office level administrators, are contained in a subsection on CPF found on page 201 in this section. The Transportation Fund’s $3.1 million in 2013 expenditures will primarily (79%) be expended for the personnel costs for bus drivers and other Transportation Department personnel. Other significant costs for this fund include bus fuel, repairs and parts, tires, and other similar expenses. A following subsection starting on page 212 provides details of the expected costs for this fund. While the official plan for the Bus Replacement Fund calls for the replacement in 2013 of nine existing buses and the purchase of seven additional buses, the Bus Replacement Fund is expected in 2013 to have revenues sufficient only to pay for the purchase of one small type “A” bus, at an estimated cost of around $71,000 and six full size type “D” buses at a total cost of $636,000. That amount is reflected in the projected actual expenditures for this fund. The following exhibits shown in this section of the budget book illustrate our projected expenditures for 2013. First, the chart on page 184 shows the estimated expenditures for 2013 for each of the funds by category. To give a better perspective on our expenditures in a historical context, a second chart, page 185, shows the total expenditures for each fund with 2013’s projections compared to our current estimates for 2012 and the actual amounts expended in 2009 through 2011. Focusing on the General Fund, the next chart, page 186, depicts the categories of proposed expenditures for the General Fund for 2013 to allow the reader to view the relationship between these categories. Reading clockwise from the top, the first several categories shown represent Personnel costs. This proposed budget shows a total of 84.5% of the 2013 General Fund budgeted for these categories. It should be noted that approximately 65.5% of the General Fund expenditures are for the personnel costs of teachers and aides who work directly with children on a daily basis. Given that the majority of the “Special Education Services and Co-operative Agreements” category and portions of the categories labeled “Supplies and Materials,” and “Other” are all used at least in part for materials for and services provided to students, it is clear that over 70% of our General Fund expenditures go directly into our classrooms for instruction. However, if we recall that 100% of the 2013 Referendum Fund and Rainy Day Fund expenditures will also be for classroom teacher personnel costs, we find that the numbers cited above, when considering the total expenditures of these three funds in the aggregate, increase the percentages above for class room instruction to 70.5% and 75.2%, respectively. The fourth exhibit, shown on page 187 in this section, is a large table showing the General Fund’s 2013 projected actual expenditures compared with the advertised budgeted appropriations for 2012 and 2011, and compared to the past three complete budget years (2009, 2010, and 2011 respectively). This multi-year comparison demonstrates the direct correlation, as well as the differences, between these years. The differences between projected actual expenditures and advertised budget appropriations for 2013 should be readily apparent.


The differences for 2013 from previous years generally are reflective of the following major factors: 1. Support for classroom teacher personnel costs from the Referendum and Rainy Day Funds

have enabled us to reduce advertised appropriations for 2013 in several areas from what they otherwise would have been.

2. At the same time, the restoration of a number of positions and programs, as noted earlier, has increased our costs. Notable examples are the restoration of the elementary school science program and the recall/refilling of some 26 teaching positions that were previously RIF’d in 2011.

3. The new full-day kindergarten program required the hiring of 12 new teachers and also caused an increase in expected expenditures for 2013.

4. The projected budget assumes a 3% salary increase at mid-year for all employees not covered by the collective bargaining agreement.

5. Expected energy savings from our ongoing energy management and energy cost reduction program have been incorporated into the projected 2013 utility costs, however, major rate increases for electricity proposed by the electric utilities are still pending and are expected to reduce the amount we otherwise would have realized as savings.

6. Various future cost increases in contracted services and certain materials have been assumed based on discussions with our vendors, suppliers, and contractors.

In addition to the material presented in this section regarding the General Fund, we have included subsections to provide additional details for Debt Service, Capital Projects, and Transportation and Bus Replacement. The subsections follow in that order.


$-

$2,500,000.00

$5,000,000.00

$7,500,000.00

$10,000,000.00

$12,500,000.00

$15,000,000.00

$17,500,000.00

$20,000,000.00

$22,500,000.00

$25,000,000.00

$27,500,000.00

$30,000,000.00

$32,500,000.00

$35,000,000.00

$37,500,000.00

2013 Projected Expenditures By Fund and Category

Salaries & Benefits

Purchased Services

Custodial Services

Spec Ed Services & Co-ops

Utilities & Property Ins

Debt Service

Supplies & Materials

Capital Outlays

Other


$-

$2,500,000.00

$5,000,000.00

$7,500,000.00

$10,000,000.00

$12,500,000.00

$15,000,000.00

$17,500,000.00

$20,000,000.00

$22,500,000.00

$25,000,000.00

$27,500,000.00

$30,000,000.00

$32,500,000.00

$35,000,000.00

2009 2010 2011 Estimated 2012 Projected 2013

Comparison of Actual (2009 - 2011) and Projected (2012 - 2013)Expenditures by Fund

General Fund+Stimulus

Debt Service Fund

Pension Bond Debt Service Fund


Transportation Fund

Bus Replacement Fund

Rainy Day Fund

Referendum Fund


34.80%

13.60%

7.85%3.73%

1.76%0.19%

3.51%0.03%

7.30%

2.75%

7.05%

2.01%

2.06%

3.01%

2.51%

5.45%2.39%

2013 General Fund Estimated Expenditures

Classroom Teachers - Salaries

Classroom Teachers - Benefits

Other Certified Teachers - Salaries

Other Certified Teachers - Benefits

Substitute Teachers - Salaries

Substitute Teachers - Payroll Costs

Instructional Aides - Salaries

Instructional Aides - Payroll Costs

Administrators - Salaries

Administrators - Benefits

Noncertified Staff - Salaries

Noncertified Staff - Benefits

Supplies and Materials

Utilities and Insurance

Special Ed Services & Coop Agreements

Contracted Services

Other


Actual Actual Actual Advertised Advertised 2012 Advertised 20132009 2010 2011 2011 2012 Projected 2013 Projected

Account No. Account Name Expenditures Expenditures Expenditures Appropriation Appropriation Expenditures Appropriation Expenditures

General Fund2013 Appropriations and Projected Expenditures


With Comparisons to Previous Years' Appropriations and Expenditures

Elementary Instruction - 1110011100-110 Elem Cert Salaries 5,014,358.31$ 5,951,829.20$ 4,884,842.79$ 5,888,342.00$ 5,444,591.00$ 5,545,991.00$ 5,084,771.00$ 4,834,771.00$ 11100-120 Elem Aid Sal 93,973.66$ 217,965.13$ 45,390.22$ 151,224.00$ 65,875.00$ 69,471.00$ 55,000.00$ 55,000.00$ 11100-130 Elem Subs 175,576.43$ 261,041.76$ 250,816.32$ 194,165.00$ 265,000.00$ 255,000.00$ 255,000.00$ 255,000.00$ 11100-211 Elem - Social Security - Noncert 18,973.98$ 7,002.25$ 22,670.26$ 26,499.00$ 26,077.00$ 24,849.00$ 23,715.00$ 23,715.00$ 11100-212 Elem - Social Security - Cert 362,997.46$ 199,169.02$ 359,201.96$ 458,108.00$ 416,517.00$ 424,268.00$ 369,856.00$ 369,856.00$ 11100-214 Elem - Retirement - Noncert 1.89$ -$ 99.89$ 10,392.00$ -$ -$ 9,300.00$ 9,300.00$ 11100-215 Elem - TRF - Employed prior to 7/1/95 104,695.74$ 68,260.94$ 60,291.62$ 46,868.00$ 38,538.00$ 38,538.00$ 65,000.00$ 65,000.00$ 11100-216 Elem - TRF - Employed 7/1/95 or after 331,094.68$ 107,206.72$ 255,900.23$ 439,216.00$ 436,804.00$ 447,451.00$ 358,325.00$ 358,325.00$ 11100-220 Elem - Employee Insurance 1,193,011.10$ 928,538.19$ 1,008,258.46$ 1,118,189.00$ 1,006,140.00$ 1,026,140.00$ 895,330.00$ 895,330.00$ 11100-225 Elem - Workers Comp Ins 6,648.72$ -$ 17,456.66$ 16,767.00$ 14,163.00$ 15,038.00$ 16,044.00$ 16,044.00$ 11100-230 Elem - Unemp Compensation -$ -$ -$ 2,500.00$ -$ -$ -$ -$ 11100-241 Elem - Employer Contrib Cert - 403(b) & 136,333.08$ 103,208.67$ 72,268.00$ 204,179.00$ 207,981.00$ 181,300.00$ 181,300.00$ 11100-580 Conf. & Mileage - Elem 3,061.48$ 3,325.82$ 1,952.49$ 4,500.00$ 2,000.00$ 2,000.00$ 1,000.00$ 1,000.00$ 11100-611 Elem Supplies 74,532.72$ 49,318.97$ 117,435.11$ 79,925.00$ 74,509.00$ 84,444.00$ 100,000.00$ 100,000.00$

Subtotal - Elementary Instruction - 11100 7,515,259.25$ 7,793,658.00$ 7,127,524.68$ 8,508,963.00$ 7,994,393.00$ 8,141,171.00$ 7,414,641.00$ 7,164,641.00$

Middle School Instruction - 1120011200-110 Mid Cert Dir Sal 140,110.08$ -$ 46,767.50$ 102,485.00$ 103,485.00$ -$ 52,000.00$ 52,000.00$ 11200-120 Mid Non-cert Dir Sal -$ -$ 24,000.00$ -$ 119,643.00$ 50,750.00$ 54,000.00$ 54,000.00$ 11200-110 Mid Cert Salaries 3,638,743.15$ 5,351,147.73$ 4,247,488.77$ 4,684,438.00$ 4,432,412.00$ 4,442,412.00$ 3,672,540.00$ 3,422,540.00$ 11200-120 Mid Aid Sal 17,707.41$ 5,917.10$ 17,588.90$ 50,000.00$ 16,631.00$ 16,350.00$ 25,000.00$ 25,000.00$ 11200-130 Mid Subs Sal 103,394.12$ 149,541.23$ 132,574.51$ 120,000.00$ 125,000.00$ 120,000.00$ 150,000.00$ 150,000.00$ 11200-211 Mid - Social Security - Noncert 9,222.53$ 3,556.10$ 12,576.95$ 14,229.00$ 19,535.78$ 9,180.00$ 17,519.00$ 17,519.00$ 11200-212 Mid - Social Security - Cert 270,007.40$ 169,483.99$ 312,340.33$ 369,834.00$ 339,081.00$ 339,081.00$ 261,824.00$ 261,824.00$ 11200-214 Mid - Retirement - Noncert 177.70$ 120.00$ 5,580.00$ 12,377.00$ -$ 6,870.00$ 6,870.00$ 11200-215 Mid - TRF - Employed prior to 7/1/95 81,133.73$ 72,965.78$ 57,367.93$ 34,551.00$ 27,294.00$ 27,294.00$ 65,000.00$ 65,000.00$ 11200-216 Mid - TRF - Employed 7/1/95 or after 243,745.01$ 143,291.74$ 250,664.86$ 334,098.00$ 369,872.00$ 369,872.00$ 226,345.00$ 226,345.00$ 11200-220 Mid - Employee Insurance 994,482.61$ 880,375.07$ 1,123,805.02$ 1,044,292.00$ 884,229.00$ 877,281.00$ 615,487.00$ 615,487.00$ 11200-225 Mid - Workers Comp Ins 5,410.91$ -$ 14,270.65$ 13,535.00$ 11,862.00$ 11,672.00$ 11,361.00$ 11,361.00$ 11200-230 Mid - Unemp Compensation -$ -$ -$ 2,500.00$ -$ -$ -$ -$ 11200-241 Mid - Employer Contrib Cert - 403(b) & 4 96,055.64$ 1,303.20$ 179,652.75$ 56,903.00$ 170,635.00$ 168,090.00$ 128,340.00$ 128,340.00$ 11200-580 Conf. & Mileage 1,851.82$ 1,376.42$ 581.09$ 2,000.00$ 2,000.00$ 2,000.00$ 1,000.00$ 1,000.00$ 11200-611 Mid Supplies 39,138.92$ 30,428.71$ 27,487.65$ 47,500.00$ 45,000.00$ 45,000.00$ 40,000.00$ 40,000.00$

Subtotal - Middle Instruction - 11200 5,641,181.03$ 6,809,387.07$ 6,447,286.91$ 6,881,945.00$ 6,679,056.78$ 6,478,982.00$ 5,327,286.00$ 5,077,286.00$

High School Instruction - 1130011300-110 Sec Cert Dir Sal 82,291.32$ 100,948.12$ 55,650.00$ 111,300.00$ 111,300.00$ 175,103.00$ 175,103.00$ 11300-110 Sec Cert Salaries - ZCHS 3,855,005.55$ 4,835,003.22$ 3,994,160.72$ 4,513,167.00$ 3,980,571.00$ 3,990,571.00$ 3,900,591.00$ 3,650,591.00$ 11300-120 Event Direction 7,741.16$ 28,288.00$ -$ 28,288.00$ 28,288.00$ 30,000.00$ 30,000.00$ 11300-120 Sec Aid Sal - ZCHS 12,804.23$ 37,197.63$ 24,381.76$ 26,000.00$ 22,186.00$ 21,900.00$ 35,000.00$ 35,000.00$ 11300-130 Sec Subs Sal - ZCHS 93,821.63$ 47,185.41$ 96,542.26$ 109,062.00$ 95,000.00$ 95,000.00$ 98,500.00$ 98,500.00$ 11300-211 ZCHS - Social Security - Noncert 4,076.43$ 3,076.74$ 10,764.24$ 12,398.00$ 9,002.00$ 8,943.00$ 12,508.00$ 12,508.00$ 11300-212 ZCHS - Social Security - Cert 281,708.13$ 162,319.77$ 307,893.32$ 362,240.00$ 304,515.00$ 304,515.00$ 292,665.00$ 292,665.00$ 11300-214 ZCHS - Retirement - Noncert -$ -$ 522.24$ 4,862.00$ -$ -$ 4,905.00$ 4,905.00$ 11300-215 ZCHS - TRF - Employed prior to 7/1/95 75,256.83$ 75,147.00$ 58,753.12$ 41,875.00$ 33,828.00$ 33,828.00$ 60,000.00$ 60,000.00$ 11300-216 ZCHS - TRF - Employed 7/1/95 or after 223,422.79$ 148,550.55$ 236,182.35$ 294,432.00$ 301,390.00$ 301,390.00$ 259,177.00$ 259,177.00$ 11300-220 ZCHS - Employee Insurance 1,051,315.36$ 727,997.80$ 1,038,121.26$ 1,071,005.00$ 722,129.00$ 722,129.00$ 692,335.00$ 692,335.00$







11300-225 ZCHS - Workers Comp Ins 5,102.46$ -$ 13,932.99$ 13,255.00$ 10,352.00$ 10,352.00$ 12,711.00$ 12,711.00$ 11300-230 ZCHS - Unemp Compensation -$ -$ -$ 2,500.00$ -$ -$ -$ -$ 11300-241 ZCHS - Employer Contrib Cert - 403(b) & 72,423.55$ 4,180.80$ 37,709.12$ 61,458.00$ 149,273.00$ 149,273.00$ 143,458.00$ 143,458.00$ 11300-313 College Bound Counseling 22,866.83$ 23,224.96$ 11,907.95$ 25,000.00$ -$ -$ -$ -$ 11300-580 Conf. & Mileage - ZCHS 13,896.16$ 17,015.81$ 58.85$ 3,500.00$ 5,000.00$ 3,500.00$ 1,000.00$ 1,000.00$ 11300-611 ZCHS Supplies 63,178.93$ 65,110.48$ 73,678.28$ 95,502.00$ 67,500.00$ 60,000.00$ 75,000.00$ 75,000.00$

Subtotal - High School Instruction - 11300 5,864,911.36$ 6,146,010.17$ 6,033,844.58$ 6,691,906.00$ 5,840,334.00$ 5,840,989.00$ 5,792,953.00$ 5,542,953.00$

Subtotal - Appropriation 11000 - Instruction 19,021,351.64$ 20,749,055.24$ 19,608,656.17$ 22,082,814.00$ 20,513,783.78$ 20,461,142.00$ 18,534,880.00$ 17,784,880.00$

Special Programs - 12000

Special Education - 12200-1260012230-110 Spec Ed Cert Sal 13,384.19$ 4,867.17$ 10,051.33$ 22,801.00$ 11,500.00$ 11,500.00$ 11,000.00$ 11,000.00$ 12230-120 Spec Ed Aid Sal 17,002.52$ 3,819.84$ 6,698.93$ 14,000.00$ 4,250.00$ -$ 2,000.00$ 2,000.00$ 12410-110 Nonviolent Crisis Intervention-Cert Sal 445.20$ 12,783.45$ 839.71$ 1,250.00$ 7,783.00$ 5,000.00$ 2,000.00$ 2,000.00$ 12410-312 Nonviolent Crisis Intervention-Training 3,060.01$ 13,273.75$ 1,979.00$ 1,500.00$ 13,274.00$ 5,000.00$ 2,000.00$ 2,000.00$ 12410-611 Nonviolent Crisis Intervention-Supplies 149.62$ 734.12$ 498.84$ 500.00$ 734.00$ 500.00$ 500.00$ 500.00$ 12510-311 Private Language Tutors 56,558.49$ 87,736.76$ 71,087.60$ 50,000.00$ 80,000.00$ 75,000.00$ 75,000.00$ 75,000.00$ 12510-313 Homebound Instruction 3,023.36$ 2,660.16$ 14,880.92$ 5,000.00$ 10,000.00$ 9,000.00$ 20,000.00$ 20,000.00$ 12610-311 Spec Ed Purch Srvcs 7,648.17$ 5,887.50$ 10,000.00$ 70,000.00$ 50,000.00$ 30,000.00$ 30,000.00$ 12610-611 Moderate Prog. Supplies -$ 3,456.20$ 10,000.00$ 5,000.00$ 5,000.00$ 5,000.00$ 5,000.00$ 12620-110 Spec Ed Cert Sal 1,363,300.57$ 1,382,208.99$ 1,385,132.71$ 1,706,381.00$ 1,403,922.00$ 1,403,922.00$ 1,604,636.00$ 1,354,636.00$ 12620-120 Spec Ed Aid Sal 824,246.07$ 1,144,611.63$ 874,210.69$ 825,000.00$ 945,000.00$ 870,000.00$ 918,858.00$ 918,858.00$ 12620-130 Spec Ed Subs -$ 24,147.46$ 39,970.78$ -$ 36,626.00$ 29,500.00$ 105,983.00$ 105,983.00$ 12620-211 Spec Ed - Social Security - Noncert 86,128.91$ 35,599.26$ 69,713.51$ 68,085.00$ 72,293.00$ 68,812.00$ 70,446.00$ 70,446.00$ 12620-212 Spec Ed - Social Security - Cert 98,984.43$ 52,888.39$ 103,610.29$ 135,893.00$ 115,880.00$ 115,880.00$ 107,955.00$ 107,955.00$ 12620-214 Spec Ed - Retirement - Noncert 1,196.36$ -$ 1,209.40$ 26,700.00$ 1,500.00$ 1,250.00$ 33,655.00$ 33,655.00$ 12620-215 Spec Ed - TRF - Employed prior to 7/1/9 29,525.34$ 22,749.68$ 21,098.80$ 11,717.00$ 10,199.00$ 10,199.00$ 25,000.00$ 25,000.00$ 12620-216 Spec Ed - TRF - Employed 7/1/95 or aft 79,812.44$ 44,749.51$ 125,510.09$ 138,588.00$ 118,502.00$ 118,502.00$ 156,916.00$ 156,916.00$ 12620-220 Spec Ed - Employee Insurance 347,725.96$ 219,672.07$ 335,140.69$ 342,766.00$ 414,933.00$ 414,933.00$ 434,381.00$ 434,381.00$ 12620-225 Spec Ed - Workers Comp Ins 2,701.95$ -$ 6,708.68$ 4,974.00$ 5,466.00$ 5,466.00$ 7,003.00$ 7,003.00$ 12620-230 Spec Ed - Unemp Compensation -$ -$ -$ 1,000.00$ -$ -$ -$ -$ 12620-241 Spec Ed - Employer Contrib Cert - 403(b 16,599.31$ 55,264.40$ 17,103.30$ 24,013.00$ 80,241.00$ 80,241.00$ 79,239.00$ 79,239.00$ 12620-580 Conf. & Mileage - Spec Ed 8,456.15$ 5,064.55$ 7,079.25$ 9,000.00$ 9,000.00$ 7,500.00$ 10,000.00$ 10,000.00$ 12620-611 Spec Ed Supplies 22,280.71$ 24,616.05$ 14,244.05$ 18,909.00$ 18,909.00$ 18,909.00$ 15,000.00$ 15,000.00$ 12620-611 Spec Ed Supplies - ESY -$ 1,784.00$ 676.84$ 4,875.00$ 4,875.00$ 2,000.00$ 4,000.00$ 4,000.00$

Subtotal - Special Education - 12200-12600 2,982,229.76$ 3,139,231.24$ 3,116,789.11$ 3,432,952.00$ 3,439,887.00$ 3,308,114.00$ 3,720,572.00$ 3,470,572.00$

Special Education Preschool - 1280012810-110 Spec Ed Preschool Cert Sal 179,410.18$ 105,262.00$ 105,262.00$ 131,431.00$ 131,431.00$ 12810-120 Spec Ed Preschool Aid Sal 60,458.38$ 62,500.00$ 60,500.00$ 25,000.00$ 25,000.00$ 12810-130 Spec Ed Preschool Subs -$ -$ -$ -$ -$ 12810-211 Spec Ed Preschool - Social Security - Noncert -$ 4,781.00$ 4,628.00$ 1,913.00$ 1,913.00$ 12810-212 Spec Ed Preschool - Social Security - Cert -$ 9,576.00$ 9,576.00$ 10,055.00$ 10,055.00$ 12810-214 Spec Ed Preschool - Retirement - Noncert -$ -$ -$ -$ -$ 12810-215 Spec Ed Preschool - TRF - Employed prior to 7/1/95 -$ -$ -$ -$ -$ 12810-216 Spec Ed Preschool - TRF - Employed 7/1/95 or after -$ 13,142.00$ 13,142.00$ 13,800.00$ 13,800.00$ 12810-220 Spec Ed Preschool - Employee Insurance 1,374.38$ 21,903.00$ 21,903.00$ 23,554.00$ 23,554.00$







12810-225 Spec Ed Preschool - Workers Comp Ins -$ 326.00$ 326.00$ 436.00$ 436.00$ 12810-230 Spec Ed Preschool - Unemp Compensation -$ -$ -$ -$ -$ 12810-241 Spec Ed Preschool - Employer Contrib Cert - 403(b) & 401 (a) -$ 4,694.00$ 4,694.00$ 4,929.00$ 4,929.00$ 12810-430 Spec Ed Preschool - Contracted Services 15,632.55$ 43,875.05$ 20,000.00$ 10,000.00$ 60,000.00$ 60,000.00$ 12810-580 Conf. & Mileage - Spec Ed Preschool 1,188.40$ 1,046.39$ 1,500.00$ 1,200.00$ 2,500.00$ 2,500.00$ 12810-611 Spec Ed Preschool Supplies 5,351.16$ 146.24$ 5,000.00$ 5,000.00$ 5,000.00$ 5,000.00$

Subtotal - Special Education Preschool - 12800 -$ 263,415.05$ 45,067.68$ -$ 248,684.00$ 236,231.00$ 278,618.00$ 278,618.00$

Art & Music Education - 1290012900-311 Contract Music Instruction 210.00$ -$ -$ -$ -$ -$ -$ -$

Subtotal - Art & Music Instruction - 12900 210.00$ -$ -$ -$ -$ -$ -$ -$

Subtotal - Appropriation 12000 - Special Ed Progams 2,982,439.76$ 3,402,646.29$ 3,161,856.79$ 3,432,952.00$ 3,688,571.00$ 3,544,345.00$ 3,999,190.00$ 3,749,190.00$

Summer School - 14000

Summer School - 1400014100-110 Elem Cert Sal - Summer Sch -$ -$ -$ -$ -$ -$ -$ 14100-611 Elem Supplies - Summer Sch -$ -$ -$ -$ -$ -$ -$ 14300-110 Sec Cert Sal - Summer Sch 12,094.91$ -$ 10,000.00$ -$ -$ -$ -$ 14300-211 Sec Summer - Social Security - Noncert -$ -$ -$ -$ -$ -$ -$ 14300-212 Sec Summer - Social Security - Cert 864.11$ -$ 765.00$ -$ -$ -$ -$ 14300-214 Sec Summer - Retirement - Noncert -$ -$ -$ -$ -$ -$ -$ 14300-215 Sec Summer - TRF - Employed prior to 356.73$ -$ 300.00$ -$ -$ -$ -$ 14300-216 Sec Summer - TRF - Employed 7/1/95 o 838.43$ -$ 700.00$ -$ -$ -$ -$ 14300-220 Sec Summer - Employee Insurance 1,119.16$ -$ -$ -$ -$ -$ -$ 14300-225 Sec Summer - Workers Comp Ins -$ -$ -$ -$ -$ -$ -$ 14300-241 Sec Summer - Employer Contrib Cert - 4 147.36$ -$ -$ -$ -$ -$ -$ 14300-430 Sec Summer - On-Line Services 78,338.70$ 102,800.00$ 133,200.00$ 80,000.00$ 135,000.00$ 135,000.00$ 155,000.00$ 155,000.00$ 14300-611 Sec Supplies - Summer Sch 1,623.79$ -$ -$ 1,750.00$ -$ -$ -$ -$

Subtotal - Appropriation 14000 - Summer School Progams 95,383.19$ 102,800.00$ 133,200.00$ 93,515.00$ 135,000.00$ 135,000.00$ 155,000.00$ 155,000.00$

Remediation - 16000

Remediation - 1610016100-110 Remed Cert Sal 1,824.44$ -$ 21.40$ 10,000.00$ -$ -$ 1,000.00$ 1,000.00$ 16100-120 Remed Aid Sal 8,472.47$ 25,679.11$ 27,596.18$ 25,000.00$ 39,000.00$ 37,000.00$ 50,000.00$ 50,000.00$ 16100-211 Remed - Social Security - Noncert 749.97$ 616.60$ 1,735.90$ 1,950.00$ 2,984.00$ 2,831.00$ 3,825.00$ 3,825.00$ 16100-212 Remed - Social Security - Cert 135.04$ -$ 8.75$ 765.00$ -$ -$ 77.00$ 77.00$ 16100-214 Remed - Retirement - Noncert -$ -$ 750.00$ -$ -$ -$ -$ 16100-215 Remed - TRF - Employed prior to 7/1/95 43.53$ -$ 300.00$ -$ -$ -$ -$ 16100-216 Remed - TRF - Employed 7/1/95 or afte 112.76$ -$ 700.00$ -$ -$ 105.00$ 105.00$ 16100-220 Remed - Employee Insurance 172.86$ -$ 1,500.00$ -$ -$ -$ -$ 16100-225 Remed - Workers Comp Ins -$ -$ 128.50$ -$ 300.00$ 150.00$ 173.00$ 173.00$ 16100-241 Remed - Employer Contrib Cert - 403(b) 22.22$ -$ 0.88$ 250.00$ -$ -$ -$ -$ 16100-611 Remed Supplies 2,251.86$ -$ 263.22$ 4,000.00$ 2,500.00$ 2,500.00$ 500.00$ 500.00$

Subtotal - Remediation - 16100 13,785.15$ 26,295.71$ 29,754.83$ 45,215.00$ 44,784.00$ 42,481.00$ 55,680.00$ 55,680.00$







Preventative Remediation - 1620016200-120 Prevent Remed Aid Sal -$ -$ -$ -$ -$ 16200-611 Prevent Remed Supplies -$ -$ -$ -$ -$ 16200-611 NWEA Testing Supplies 43,237.50$ 44,950.00$ 45,448.18$ 50,000.00$ 47,000.00$ 47,000.00$ 50,000.00$ 50,000.00$

Subtotal - Preventative Remediation - 16200 43,237.50$ 44,950.00$ 45,448.18$ 50,000.00$ 47,000.00$ 47,000.00$ 50,000.00$ 50,000.00$

Subtotal - Appropriation 16000 - Remediation Progams 57,022.65$ 71,245.71$ 75,203.01$ 95,215.00$ 91,784.00$ 89,481.00$ 105,680.00$ 105,680.00$

Payments to Other Gov't Units - 17000

Payments to Other Gov't Units - 1700017100-561 Transfer Tuition 39,837.87$ 21,000.00$ -$ 2,500.00$ -$ -$ 25,000.00$ 25,000.00$ 17300-561 Area Vocational Center 92,800.00$ 55,777.74$ 117,774.44$ 100,000.00$ 115,000.00$ 115,000.00$ 120,000.00$ 120,000.00$ 17400-311 Joint Serv/Supply - Spec Ed Co-op 560,004.00$ 483,153.50$ 602,766.26$ 300,000.00$ 645,000.00$ 625,000.00$ 675,000.00$ 675,000.00$ 17600-312 Joint Serv/Supply - CIESC 30,000.00$ 30,473.70$ 25,786.90$ 35,000.00$ 32,500.00$ 32,500.00$ 37,500.00$ 37,500.00$ 17800-311 Payments to Charter Schools -$ -$ -$ 5,000.00$ -$ -$ 5,000.00$ 5,000.00$

Subtotal - Payments to Other Gov't Units - 17000 722,641.87$ 590,404.94$ 746,327.60$ 442,500.00$ 792,500.00$ 772,500.00$ 862,500.00$ 862,500.00$

Student Support Services - 21000

Guidance Services - 2120021220-110 Guidance Cert Sal 831,871.59$ 809,253.60$ 853,019.80$ 898,711.00$ 862,854.00$ 862,854.00$ 1,033,570.00$ 1,033,570.00$ 21220-120 Guidance Noncert Sal 97,697.93$ 106,825.05$ 82,797.29$ 105,729.00$ 99,750.00$ 86,520.00$ 97,000.00$ 97,000.00$ 21220-211 Guidance - Social Security - Noncert 7,097.95$ 2,793.25$ 5,804.52$ 8,088.00$ 7,650.00$ 6,619.00$ 7,421.00$ 7,421.00$ 21220-212 Guidance - Social Security - Cert 59,344.68$ 34,407.15$ 61,399.01$ 68,751.00$ 66,008.00$ 66,008.00$ 79,069.00$ 79,069.00$ 21220-214 Guidance - Retirement - Noncert 2,629.51$ -$ 1,401.92$ 3,172.00$ 2,993.00$ 2,596.00$ 2,910.00$ 2,910.00$ 21220-215 Guidance - TRF - Employed prior to 7/1/ 17,636.23$ 14,812.87$ 10,081.34$ 6,766.00$ 4,908.00$ 4,908.00$ 10,500.00$ 10,500.00$ 21220-216 Guidance - TRF - Employed 7/1/95 or a 49,246.58$ 29,089.84$ 55,426.46$ 67,321.00$ 73,420.00$ 73,420.00$ 91,507.00$ 91,507.00$ 21220-220 Guidance - Employee Insurance 260,209.49$ 96,611.81$ 178,231.61$ 166,277.00$ 153,262.00$ 153,262.00$ 211,345.00$ 211,345.00$ 21220-225 Guidance - Workers Comp Ins 2,644.87$ -$ 3,100.72$ 2,517.00$ 2,244.00$ 2,244.00$ 3,427.00$ 3,427.00$ 21220-230 Guidance - Unemp Compensation -$ -$ -$ -$ -$ -$ -$ -$ 21220-241 Guidance - Employer Contrib Cert 10,138.71$ 36,191.01$ 44,906.61$ 11,521.00$ 32,357.00$ 32,357.00$ 38,756.00$ 38,756.00$ 21220-313 Guidance Purch Srvcs -$ -$ -$ -$ 2,500.00$ -$ -$ -$ 21220-611 Guidance Supplies -$ -$ -$ 2,257.00$ 1,000.00$ -$ -$ -$

Subtotal - Guidance Services - 21200 1,338,517.54$ 1,129,984.58$ 1,296,169.28$ 1,341,110.00$ 1,308,946.00$ 1,290,788.00$ 1,575,505.00$ 1,575,505.00$

Health Services - 2130021340-319 Medical Srvcs 257,311.39$ 336,288.66$ 173,968.78$ 290,000.00$ 360,000.00$ 360,000.00$ 375,000.00$ 375,000.00$ 21390-313 Ath Trnr Purch Srvcs 21,374.25$ 28,499.00$ 28,499.00$ 25,000.00$ 40,000.00$ 40,000.00$ 32,500.00$ 32,500.00$ 21390-611 Nursing Supplies 13,451.29$ 8,861.44$ 10,864.82$ 15,000.00$ 12,500.00$ 11,500.00$ 12,500.00$ 12,500.00$

Subtotal - Health Services - 21300 292,136.93$ 373,649.10$ 213,332.60$ 330,000.00$ 412,500.00$ 411,500.00$ 420,000.00$ 420,000.00$

Speech and Hearing Services - 2150021520-313 Speech and Hearing Purch Srvcs 529.90$ 901.78$ 533.65$ 3,231.00$ 1,500.00$ 1,100.00$ 1,500.00$ 1,500.00$

Subtotal - Speech and Hearing Services - 21500 529.90$ 901.78$ 533.65$ 3,231.00$ 1,500.00$ 1,100.00$ 1,500.00$ 1,500.00$







Special Education Administration - 2180021810-110 Spec Ed Service Area Direction -$ 34,997.84$ 118,803.52$ 113,399.00$ 60,000.00$ 119,362.00$ 124,533.00$ 124,533.00$ 21810-120 Spec Ed Admin Non-cert Salaries 42,281.12$ 53,275.44$ 45,809.92$ 44,802.00$ 54,874.00$ 46,750.00$ 47,884.00$ 47,884.00$ 21810-211 Spec Ed - Social Security - Noncert 2,880.51$ 1,567.65$ 3,067.77$ 3,504.00$ 4,198.00$ 3,576.00$ 3,663.00$ 3,663.00$ 21810-212 Spec Ed - Social Security - Cert -$ 2,623.39$ 8,230.08$ 8,560.00$ 4,590.00$ 9,131.00$ 9,527.00$ 9,527.00$ 21810-214 Spec Ed - Retirement - Noncert 1,268.49$ -$ 845.76$ 1,374.00$ 1,646.00$ 1,403.00$ 1,437.00$ 1,437.00$ 21810-215 Spec Ed - TRF - Employed prior to 7/1/9 -$ 1,129.42$ 2,936.33$ 3,357.00$ 2,014.00$ 3,581.00$ 3,736.00$ 3,736.00$ 21810-216 Spec Ed - TRF - Employed 7/1/95 or aft -$ 2,217.97$ 1,892.76$ -$ 3,786.00$ -$ -$ -$ 21810-220 Spec Ed - Employee Insurance 39,198.67$ 7,140.11$ 26,906.69$ 35,000.00$ 24,189.00$ 25,330.00$ 35,000.00$ 35,000.00$ 21810-225 Spec Ed - Workers Comp Ins 2,398.17$ -$ 509.46$ 1,500.00$ 1,019.00$ 1,019.00$ 1,025.00$ 1,025.00$ 21810-230 Spec Ed - Unemp Compensation -$ -$ -$ -$ -$ -$ -$ -$ 21810-241 Spec Ed - Employer Contrib Cert - 403(b -$ 1,000.00$ 2,585.91$ 4,196.00$ 344.00$ 344.00$ 4,670.00$ 4,670.00$

Subtotal - Special Education Administration - 21800 88,026.96$ 103,951.82$ 211,588.20$ 215,692.00$ 156,660.00$ 210,496.00$ 231,475.00$ 231,475.00$

Subtotal - Student Support Services - 21000 1,719,211.33$ 1,608,487.28$ 1,721,623.73$ 1,890,033.00$ 1,879,606.00$ 1,913,884.00$ 2,228,480.00$ 2,228,480.00$

Instructional Support Services - 22000

Improv of Instruc/Curr - 2210022110-110 Curriculum Serv Area Dir 77,834.79$ 892.73$ -$ 10,000.00$ -$ -$ 5,000.00$ 5,000.00$ 22120-120 Curric Non-cert Salaries 42,480.22$ 101,280.75$ 27,443.39$ 26,075.00$ 25,000.00$ 20,000.00$ 40,000.00$ 40,000.00$ 22120-211 Curric - Social Security - Noncert 2,460.05$ 1,889.80$ 2,390.42$ 2,377.00$ 1,912.00$ 1,530.00$ 3,060.00$ 3,060.00$ 22120-212 Curric - Social Security - Cert 5,759.78$ 66.92$ -$ 765.00$ -$ -$ -$ -$ 22120-214 Curric - Retirement - Noncert 867.40$ -$ 629.03$ 932.00$ 1,500.00$ 600.00$ 1,200.00$ 1,200.00$ 22120-215 Curric - TRF - Employed prior to 7/1/95 3,763.03$ 28.81$ -$ 150.00$ -$ -$ -$ -$ 22120-216 Curric - TRF - Employed 7/1/95 or after -$ 56.58$ -$ 525.00$ -$ -$ -$ -$ 22120-220 Curric - Employee Insurance 44,769.75$ 544.54$ 4,480.17$ 9,500.00$ 10,976.00$ -$ -$ -$ 22120-225 Curric - Workers Comp Ins -$ -$ 106.94$ -$ 107.00$ -$ 150.00$ 150.00$ 22120-230 Curric - Unemp Compensation -$ -$ -$ -$ -$ -$ -$ -$ 22120-241 Curric - Employer Contrib Cert - 403(b) & 948.61$ -$ -$ 375.00$ -$ -$ -$ -$ 22120-312 PL 221 51,461.26$ -$ 42,099.18$ 52,500.00$ 35,000.00$ 30,000.00$ 35,000.00$ 35,000.00$ 22130-311 Distance Learning -$ -$ -$ 3,000.00$ -$ -$ -$ -$ 22130-312 Instructional Staff Training Services 2,183.22$ 3,724.39$ -$ 20,000.00$ 5,000.00$ -$ 2,500.00$ 2,500.00$ 22130-312 Inservice -$ -$ -$ 20,000.00$ 5,000.00$ -$ -$ -$ 22130-580 Conf. & Mileage -$ 13,059.96$ -$ 1,000.00$ 5,000.00$ 5,000.00$ 2,500.00$ 2,500.00$ 22130-611 Curric Supplies 861.86$ 1,694.59$ -$ 3,500.00$ 1,500.00$ 1,500.00$ 1,500.00$ 1,500.00$

Subtotal - Improv of Instruc/Curr - 22100 233,389.97$ 123,239.07$ 77,149.13$ 150,699.00$ 90,995.00$ 58,630.00$ 90,910.00$ 90,910.00$

Media Services - 2222022220-110 Media Cert Sal 163,464.08$ 212,998.88$ 205,064.08$ 194,022.00$ 218,205.00$ 218,205.00$ 222,374.00$ 222,374.00$ 22220-120 Media Noncert Sal 184,660.65$ 202,531.86$ 145,766.75$ 143,212.00$ 208,608.00$ 152,900.00$ 160,000.00$ 160,000.00$ 22220-211 Media - Social Security - Noncert 13,396.14$ 4,947.23$ 10,394.08$ 10,956.00$ 15,958.00$ 11,697.00$ 12,240.00$ 12,240.00$ 22220-212 Media - Social Security - Cert 11,541.12$ 7,197.91$ 14,728.93$ 14,843.00$ 16,694.00$ 16,694.00$ 17,011.00$ 17,011.00$ 22220-214 Media - Retirement - Noncert 3,390.97$ -$ 1,684.18$ 4,296.00$ 6,258.00$ 4,587.00$ 4,800.00$ 4,800.00$ 22220-215 Media - TRF - Employed prior to 7/1/95 972.78$ 3,098.82$ 4,265.14$ 4,522.00$ 5,086.00$ 5,086.00$ 2,002.00$ 2,002.00$ 22220-216 Media - TRF - Employed 7/1/95 or after 6,200.93$ 6,085.53$ 5,645.45$ 4,332.00$ 5,108.00$ 5,108.00$ 4,670.00$ 4,670.00$ 22220-220 Media - Employee Insurance 113,003.19$ 46,940.07$ 57,422.36$ 29,564.00$ 32,988.00$ 32,988.00$ 35,439.00$ 35,439.00$







22220-225 Media - Workers Comp Ins -$ -$ 1,034.39$ 544.00$ 566.00$ 566.00$ 737.00$ 737.00$ 22220-230 Media - Unemp Compensation -$ -$ -$ -$ -$ -$ -$ -$ 22220-241 Media - Employer Contrib Cert - 403(b) & 1,992.33$ 7,571.09$ 2,638.74$ 3,376.00$ 8,182.00$ 8,182.00$ 8,338.00$ 8,338.00$ 22220-640 Media, Books, Periodicals 75,140.29$ 59,900.06$ 63,380.97$ 80,000.00$ 77,000.00$ 76,000.00$ 97,500.00$ 97,500.00$

Subtotal - Media Services - 22220 573,762.48$ 551,271.45$ 512,025.07$ 489,667.00$ 594,653.00$ 532,013.00$ 565,111.00$ 565,111.00$

Subtotal - Instructional Support Services - 22000 807,152.45$ 674,510.52$ 589,174.20$ 640,366.00$ 685,648.00$ 590,643.00$ 656,021.00$ 656,021.00$

General Administration - 23000

Governing Body - 2310023110-115 Governing Body Compensation 8,000.00$ 8,629.17$ 8,000.00$ 10,000.00$ 10,000.00$ 10,000.00$ 8,000.00$ 8,000.00$ 23110-211 Governing Body FICA 586.33$ 765.00$ 765.00$ 612.00$ 612.00$ 23110-220 Governing Body - Employee Insurance 44,135.35$ 1,073.58$ 60.00$ 45,000.00$ 20,000.00$ 15,000.00$ -$ -$ 23150-318 Legal and Litigation Services 99,851.79$ 61,058.70$ 60,391.77$ 45,000.00$ 65,000.00$ 65,000.00$ 80,000.00$ 80,000.00$ 23160-319 Promotion Expenses 5,276.98$ 1,661.17$ 1,106.95$ 5,534.00$ 5,429.00$ 5,429.00$ 5,819.00$ 5,819.00$ 23190-550 Other Governing Body Services 577.47$ 2,885.00$ 2,920.00$ 5,000.00$ 3,000.00$ 3,000.00$ 3,000.00$ 3,000.00$ 23190-580 Travel and Conf. 13,366.14$ 5,813.38$ 895.15$ 10,000.00$ 5,000.00$ 5,000.00$ 1,000.00$ 1,000.00$ 23190-810 Community Relations 3,946.66$ 7,916.25$ 3,915.92$ 5,000.00$ 5,000.00$ 5,000.00$ 1,000.00$ 1,000.00$

Subtotal - Governing Body - 23100 175,154.39$ 89,037.25$ 77,876.12$ 125,534.00$ 114,194.00$ 109,194.00$ 99,431.00$ 99,431.00$

Office of the Superintendent - 2320023210-110 Supt Sal 122,840.24$ 161,436.37$ 143,576.92$ 160,361.00$ 160,361.00$ 147,884.00$ 156,345.00$ 156,345.00$ 23210-120 Central Off Sect Sal 285,766.35$ 285,673.34$ 155,296.15$ 95,521.00$ 95,000.00$ 95,000.00$ 159,934.00$ 159,934.00$ 23210-211 Central Off - Social Security - Noncert 20,756.94$ 7,518.77$ 11,168.30$ 7,308.00$ 7,268.00$ 7,268.00$ 12,235.00$ 12,235.00$ 23210-212 Central Off - Social Security - Cert 7,711.84$ 5,381.17$ 8,570.72$ 12,268.00$ 12,268.00$ 12,268.00$ 11,960.00$ 11,960.00$ 23210-214 Central Off - Retirement - Noncert 8,573.20$ 3,362.30$ 3,993.83$ 2,866.00$ 8,700.00$ 2,850.00$ 4,798.00$ 4,798.00$ 23210-215 Central Off - TRF - Employed prior to 7/ 3,685.20$ 2,316.69$ 1,312.88$ -$ -$ -$ -$ -$ 23210-216 Central Off - TRF - Employed 7/1/95 or 8,598.73$ 4,549.55$ 9,991.82$ 16,517.00$ 10,513.00$ 13,973.00$ 16,416.00$ 16,416.00$ 23210-220 Central Off - Employee Insurance 139,785.62$ 65,701.88$ 55,653.04$ 90,000.00$ 46,268.00$ 34,752.00$ 60,000.00$ 60,000.00$ 23210-225 Central Off - Workers Comp Ins 2,523.36$ -$ 1,608.02$ 7,559.00$ 1,261.00$ 1,261.00$ 30,000.00$ 30,000.00$ 23210-230 Central Off - Unemp Compensation 68,664.80$ 59,980.51$ 38,045.64$ 26,635.00$ 40,000.00$ 40,000.00$ 62,450.00$ 50,000.00$ 23210-241 Central Off - Employer Contrib Cert - 40 17,891.89$ 13,352.23$ 13,204.57$ 6,014.00$ 13,755.00$ 14,990.00$ 16,954.00$ 16,954.00$ 23210-319 Central Off Purch Srvcs -$ -$ 1,601.13$ 10,000.00$ -$ -$ 25,000.00$ 25,000.00$ 23210-580 Central Off - Travel & Conf. 3,629.98$ 1,310.95$ 135.03$ 15,000.00$ 2,500.00$ 2,500.00$ 500.00$ 500.00$ 23210-611 Supplies 18,128.04$ 8,807.03$ 7,150.57$ 20,000.00$ 18,500.00$ 17,500.00$ 7,500.00$ 7,500.00$ 23220-810 Community Relations 825.00$ 1,265.67$ 159.07$ 2,500.00$ 1,000.00$ 1,000.00$ 500.00$ 500.00$ 23230-319 Staff Relations & Negot -$ -$ 2,500.00$ 1,000.00$ 1,000.00$ 500.00$ 500.00$ 23290-540 Legal Advertising 5,011.63$ 2,759.40$ 3,519.29$ 5,000.00$ 5,000.00$ 5,000.00$ 4,500.00$ 4,500.00$

Subtotal - Office of the Superintendent - 23200 714,392.82$ 623,415.86$ 454,986.98$ 480,049.00$ 423,394.00$ 397,246.00$ 569,592.00$ 557,142.00$

Subtotal - General Administration - 23000 889,547.21$ 712,453.11$ 532,863.10$ 605,583.00$ 537,588.00$ 506,440.00$ 669,023.00$ 656,573.00$

School Administration - 24000

Offices of the Principals - 2400024100-110 Principals' Sal 1,076,873.81$ 1,373,080.40$ 1,237,848.92$ 1,239,750.00$ 1,314,891.00$ 1,314,891.00$ 1,656,237.00$ 1,656,237.00$ 24100-120 Prin Office Sect Sal 628,724.78$ 486,843.32$ 406,073.35$ 590,725.00$ 486,843.00$ 425,000.00$ 500,000.00$ 500,000.00$







24100-211 Prin Office - Social Security - Noncert 35,152.84$ 13,573.53$ 29,631.78$ 45,190.00$ 37,243.00$ 32,513.00$ 38,250.00$ 38,250.00$ 24100-212 Prin Office - Social Security - Cert 79,451.43$ 49,301.01$ 94,834.23$ 94,841.00$ 99,596.00$ 99,596.00$ 125,228.00$ 125,228.00$ 24100-214 Prin Office - Retirement - Noncert 14,345.50$ 9,049.87$ 11,171.15$ 17,722.00$ 14,605.00$ 12,750.00$ 15,000.00$ 15,000.00$ 24100-215 Prin Office - TRF - Employed prior to 7/1 26,230.61$ 21,151.74$ 15,677.48$ -$ -$ -$ -$ -$ 24100-216 Prin Office - TRF - Employed 7/1/95 or 67,280.12$ 41,681.97$ 77,712.07$ 127,694.00$ 138,065.00$ 131,489.00$ 164,731.00$ 164,731.00$ 24100-220 Prin Office - Employee Insurance 324,951.76$ 161,755.03$ 235,346.01$ 328,000.00$ 290,026.00$ 258,315.00$ 439,565.00$ 439,565.00$ 24100-225 Prin Office - Workers Comp Ins 4,914.86$ -$ 5,312.84$ 5,723.00$ 5,732.00$ 5,500.00$ 11,262.00$ 11,262.00$ 24100-230 Prin Office - Unemp Compensation -$ -$ -$ -$ -$ -$ -$ -$ 24100-241 Prin Office - Employer Contrib Cert - 403 31,124.35$ 64,357.05$ 61,734.79$ 46,491.00$ 49,309.00$ 46,309.00$ 62,110.00$ 62,110.00$ 24100-312 Prin Office - Staff Dev -$ -$ -$ 2,500.00$ 2,500.00$ 2,500.00$ 500.00$ 500.00$ 24100-580 Prin Office - Travel & Conf 1,300.00$ -$ -$ 2,500.00$ 2,500.00$ 2,500.00$ 500.00$ 500.00$

Subtotal - Offices of the Principals - 24000 2,290,350.06$ 2,220,793.92$ 2,175,342.62$ 2,501,136.00$ 2,441,310.00$ 2,331,363.00$ 3,013,383.00$ 3,013,383.00$

Subtotal - School Administration - 24000 2,290,350.06$ 2,220,793.92$ 2,175,342.62$ 2,501,136.00$ 2,441,310.00$ 2,331,363.00$ 3,013,383.00$ 3,013,383.00$

Central Services - 25000

Fiscal Services - 2510025120-120 Fiscal Serv Area Dir 194,582.37$ 245,817.70$ 230,305.37$ 212,103.00$ 221,487.00$ 242,921.00$ 250,598.00$ 250,598.00$ 25140-120 Receiving and Disbursing Funds 91,578.60$ 144,737.30$ 100,814.40$ 156,872.00$ 251,872.00$ 191,872.00$ 109,566.00$ 109,566.00$ 25140-211 Fiscal Services - Social Security - Nonce 20,232.40$ 11,548.28$ 22,319.59$ 28,035.00$ 36,212.00$ 34,103.00$ 27,553.00$ 27,553.00$ 25140-214 Fiscal Services - Retirement - Noncert 8,491.97$ 10,102.78$ 8,978.13$ 10,994.00$ 14,201.00$ 13,374.00$ 12,606.00$ 12,606.00$ 25140-220 Fiscal Services - Employee Insurance 81,560.69$ 40,364.76$ 45,459.30$ 85,000.00$ 101,278.00$ 73,832.00$ 61,978.00$ 61,978.00$ 25140-225 Fiscal Services - Workers Comp Ins 1,615.70$ -$ 1,057.15$ 2,000.00$ 2,250.00$ 2,200.00$ 1,500.00$ 1,500.00$ 25140-241 Fiscal Services - Employer Contrib Cert 3,506.72$ 9,310.17$ 3,516.90$ 5,008.00$ 3,805.00$ 5,022.00$ 9,397.00$ 9,397.00$ 25140-532 Postage and Bank Fees 11,877.16$ 24,057.82$ 12,189.91$ 11,000.00$ 25,000.00$ 16,745.00$ 17,500.00$ 17,500.00$ 25140-580 Conf. & Mileage 2,826.24$ 2,820.90$ 3,410.56$ 3,000.00$ 9,500.00$ 4,500.00$ 4,500.00$ 4,500.00$ 25140-611 Supplies 9,480.27$ 11,252.31$ 14,106.02$ 10,500.00$ 10,500.00$ 10,500.00$ 15,000.00$ 15,000.00$ 25199-670 Refunds of Revenues 8,537.11$ 1,629.02$ 10,091.79$ 5,000.00$ 5,000.00$ 5,000.00$ 10,000.00$ 10,000.00$

Subtotal - Fiscal Services - 25100 434,289.23$ 501,641.04$ 452,249.12$ 529,512.00$ 681,105.00$ 600,069.00$ 520,198.00$ 520,198.00$

Bulk Purchasing - 2522025220-611 Bulk Purch of Paper & Supplies 46,440.30$ 39,352.72$ 90,032.99$ 59,951.00$ 59,951.00$ 59,951.00$ 60,000.00$ 60,000.00$

Subtotal - Bulk Purchases - 25220 46,440.30$ 39,352.72$ 90,032.99$ 59,951.00$ 59,951.00$ 59,951.00$ 60,000.00$ 60,000.00$

Personnel Services - 2570025710-110 Supervision of Personnel Services -$ 35,486.08$ 116,278.63$ 117,148.00$ 93,368.00$ 115,330.00$ 126,183.00$ 126,183.00$ 25730-120 Personnel Services -$ 35,451.82$ 83,178.53$ 156,504.00$ 153,090.00$ 144,000.00$ 104,119.00$ 104,119.00$ 25730-211 Personnel - Social Security - Noncert -$ 2,295.21$ 5,816.06$ 11,743.00$ 11,711.00$ 11,016.00$ 7,965.00$ 7,965.00$ 25730-212 Personnel - Social Security - Cert -$ 2,659.99$ 8,286.23$ 8,809.00$ 7,143.00$ 8,823.00$ 8,451.00$ 8,451.00$ 25730-214 Personnel - Retirement - Noncert -$ -$ 1,295.05$ 4,605.00$ 4,706.00$ 4,320.00$ 3,124.00$ 3,124.00$ 25730-216 Personnel - TRF - Employed 7/1/95 or a -$ 3,394.08$ 9,379.85$ 11,860.00$ 9,804.00$ 12,110.00$ 13,249.00$ 13,249.00$ 25730-220 Personnel - Employee Insurance 11,320.69$ 7,438.52$ 28,920.21$ 85,000.00$ 53,177.00$ 29,928.00$ 32,082.00$ 32,082.00$ 25730-225 Personnel - Workers Comp Ins -$ 660.35$ 2,000.00$ 2,250.00$ 2,250.00$ 2,250.00$ 2,250.00$ 25730-241 Personnel - Employer Contrib Cert - 403 -$ 1,000.00$ 1,565.59$ 3,167.00$ 3,501.00$ 4,325.00$ 4,732.00$ 4,732.00$ 25730-430 Personnel - Contracted Services 6,282.00$ 5,000.00$ -$ 7,500.00$ 7,500.00$ 25730-580 Conf. & Mileage 3,775.23$ 1,421.56$ 2,297.21$ 3,000.00$ 9,500.00$ 5,000.00$ 1,500.00$ 1,500.00$ 25730-611 Personnel - Supplies 2,220.21$ 766.97$ 1,164.52$ 5,000.00$ 5,000.00$ 5,000.00$ 2,500.00$ 2,500.00$







Subtotal - Personnel Services - 25700 17,316.13$ 89,914.23$ 265,124.23$ 408,836.00$ 358,250.00$ 342,102.00$ 313,655.00$ 313,655.00$

Subtotal - Central Services - 25000 498,045.66$ 630,907.99$ 807,406.34$ 998,299.00$ 1,099,306.00$ 1,002,122.00$ 893,853.00$ 893,853.00$

Plant Services - 26000

Maint of Facilities - 26100-2620026100-110 Oper Serv Area Dir 106,458.30$ 122,836.78$ 98,836.17$ 94,250.00$ 95,711.00$ 95,711.00$ 106,293.00$ 106,293.00$ 26100-120 Noncert Oper Serv Area Dir 51,968.00$ 65,050.76$ 55,000.00$ 62,558.00$ 60,000.00$ 60,000.00$ -$ -$ 26200-120 Maint - Noncert Salaries 1,313,096.01$ 514,754.46$ 426,966.09$ 585,000.00$ 509,000.00$ 479,000.00$ 465,000.00$ 465,000.00$ 26200-211 Facilities - Social Security - Noncert 101,403.74$ 16,940.31$ 35,056.30$ 49,538.00$ 43,529.00$ 41,234.00$ 35,573.00$ 35,573.00$ 26200-212 Facilities - Social Security - Cert 7,713.48$ 3,869.99$ 7,328.85$ 7,210.00$ 7,322.00$ 7,322.00$ 8,131.00$ 8,131.00$ 26200-214 Facilities - Retirement - Noncert 39,851.95$ 874.04$ 8,128.48$ 19,427.00$ 17,070.00$ 17,070.00$ 13,950.00$ 13,950.00$ 26200-215 Facilities - TRF - Employed prior to 7/1/9 3,193.68$ 1,666.10$ 2,419.84$ 2,828.00$ 2,871.00$ 2,871.00$ 11,161.00$ 11,161.00$ 26200-216 Facilities - TRF - Employed 7/1/95 or af 7,452.01$ 3,271.91$ 1,549.02$ -$ -$ -$ -$ -$ 26200-220 Facilities - Employee Insurance 490,137.10$ 164,908.81$ 82,869.87$ 255,000.00$ 175,000.00$ 102,688.00$ 115,000.00$ 115,000.00$ 26200-225 Facilities - Workers Comp Ins 40,701.36$ -$ 38,466.96$ 39,000.00$ 40,000.00$ 35,000.00$ 40,000.00$ 40,000.00$ 26200-230 Facilities - Unemp Compensation -$ -$ -$ 10,000.00$ -$ -$ -$ -$ 26200-241 Facilities - Employer Contrib Cert - 403(b 3,297.44$ -$ 2,491.05$ 2,592.00$ 3,589.00$ 3,589.00$ 3,985.00$ 3,985.00$ 26200-411 Dist Water & Sewer 131,318.85$ 210,936.25$ 163,005.97$ 150,000.00$ 215,000.00$ 212,500.00$ 136,579.00$ 136,579.00$ 26200-412 Dist Trash Removal 43,800.54$ 49,245.63$ 59,556.03$ 50,000.00$ 55,000.00$ 52,500.00$ 49,901.00$ 49,901.00$ 26200-419 Jennings Field Utilities 84.80$ 94.09$ 187.87$ 1,000.00$ 200.00$ 200.00$ 500.00$ 500.00$

26200-420 Contract Cleaning Services -$ -$ 1,272,825.00$ 1,476,445.00$ 1,560,000.00$ 1,560,000.00$ 1,800,000.00$ 1,700,000.00$ 26200-430 Dist Rep Furn & Equip -$ -$ -$ -$ -$ -$ -$ -$ 26200-531 Telephone - Dist 85,159.19$ 46,768.68$ 40,312.83$ 73,500.00$ 50,000.00$ 50,000.00$ 33,777.00$ 33,777.00$ 26200-611 Maint & Custodial Supplies 240,112.54$ 164,749.84$ 162,544.48$ 150,000.00$ 160,000.00$ 155,000.00$ 160,000.00$ 160,000.00$ 26200-621 Electric Utilities - Power/Lght 999,316.36$ 317,283.70$ 756,947.88$ 1,042,500.00$ 995,000.00$ 380,000.00$ 634,238.00$ 634,229.00$ 26200-622 Natural Gas Utilities 323,223.86$ 276,120.38$ 189,955.77$ 318,500.00$ 318,500.00$ 297,390.00$ 159,160.00$ 159,160.00$ 26200-624 Heating Oil - Old UE 28,399.50$ -$ 7,561.60$ 30,000.00$ 10,000.00$ 7,500.00$ -$ -$ 26200-730 Maint. Of Bldgs Capt Outlay -$ -$ -$ 25,000.00$ -$ -$ -$ -$

Subtotal - Maint of Bldgs - 26200 4,016,688.71$ 1,959,371.73$ 3,412,010.06$ 4,444,348.00$ 4,317,792.00$ 3,559,575.00$ 3,773,248.00$ 3,673,239.00$

Maint of Grounds - 2630026300-430 Grds Pur Serv 5,229.51$ 4,640.55$ 3,091.30$ 10,000.00$ 5,500.00$ 5,500.00$ 5,500.00$ 5,500.00$ 26300-611 Grnds Supplies 21,326.72$ 20,012.93$ 24,252.90$ 30,000.00$ 20,000.00$ 20,000.00$ 20,000.00$ 20,000.00$ 26300-730 Grds Capt Out 818.23$ 2,300.36$ 7,546.86$ 10,000.00$ 5,000.00$ -$ 5,000.00$ 5,000.00$

Subtotal - Maint of Grounds - 26300 27,374.46$ 26,953.84$ 34,891.06$ 50,000.00$ 30,500.00$ 25,500.00$ 30,500.00$ 30,500.00$

Maint of Equipment - 2640026400-430 Maint Purch Srvcs 28,600.79$ 21,310.69$ 30,522.71$ 30,000.00$ 35,000.00$ 30,000.00$ 32,500.00$ 32,500.00$ 26400-611 Tech Maint. Supplies 746.05$ 162.60$ 3,429.63$ 2,500.00$ 1,000.00$ 1,000.00$ 7,500.00$ 7,500.00$ 26400-611 Maint Parts & Supplies 11,256.80$ 18,155.27$ 28,482.73$ 15,000.00$ 25,000.00$ 24,000.00$ 25,000.00$ 25,000.00$ 26400-730 Maint Capt Out -$ -$ 217.82$ 10,000.00$ -$ -$ 1,000.00$ 1,000.00$

Subtotal - Maint of Equipment - 26400 40,603.64$ 39,628.56$ 62,652.89$ 57,500.00$ 61,000.00$ 55,000.00$ 66,000.00$ 66,000.00$

Maint of Vehicles - 2650026500-430 Vehicle Purch Srvcs 12,308.83$ 3,805.88$ 10,265.68$ 15,000.00$ 10,000.00$ 10,000.00$ 10,000.00$ 10,000.00$







26500-580 Travel & Conf. 1,588.92$ 210.00$ 345.00$ -$ 2,880.00$ -$ 1,000.00$ 1,000.00$ 26500-611 Vehicle Supplies 10,140.30$ 8,789.32$ 13,308.43$ 35,000.00$ 10,000.00$ 10,000.00$ 10,000.00$ 10,000.00$ 26500-730 Vehicle Capital Outlay 54,464.00$ -$ -$ 60,000.00$ 50,000.00$ 35,000.00$ 40,000.00$ 40,000.00$

Subtotal - Maint of Vehicles - 26500 78,502.05$ 12,805.20$ 23,919.11$ 110,000.00$ 72,880.00$ 55,000.00$ 61,000.00$ 61,000.00$

Insurance - 2670026700-520 Insurance Prem 39,478.00$ 3,914.00$ 18,245.00$ 250,000.00$ 150,000.00$ -$ 40,000.00$ 25,000.00$

Subtotal - Insurance - 26700 39,478.00$ 3,914.00$ 18,245.00$ 250,000.00$ 150,000.00$ -$ 40,000.00$ 25,000.00$

Subtotal -Plant Services - 26000 4,202,646.86$ 2,042,673.33$ 3,551,718.12$ 4,911,848.00$ 4,632,172.00$ 3,695,075.00$ 3,970,748.00$ 3,855,739.00$

Noninstructional Services - 30000

Use of Facilities - 3320033200-120 Use of Fac - Non Cert Sal -$ -$ -$ 10,000.00$ -$ -$ -$ -$

Subtotal - Use of Facilities - 33000 -$ -$ -$ 10,000.00$ -$ -$ -$ -$

Athletic Coaches - 3340033400-120 Lay Coaches Sal 266,281.77$ 337,369.25$ 271,110.57$ 190,079.00$ 270,000.00$ 250,000.00$ 275,000.00$ 275,000.00$ 33400-211 Lay Coaches - Social Security - Noncert 25,250.82$ 7,893.44$ 22,553.30$ 14,541.00$ 20,655.00$ 19,125.00$ 25,000.00$ 25,000.00$ 33400-225 Lay Coaches - Workers Comp Ins -$ 3,529.85$ 15,480.17$ 5,000.00$ 15,480.00$ 700.00$ 10,000.00$ 10,000.00$

Subtotal - Athletic Coaches - 33400 291,532.59$ 348,792.54$ 309,144.04$ 209,620.00$ 306,135.00$ 269,825.00$ 310,000.00$ 310,000.00$

Event Workers - 3399033990-120 Event Workers 21,293.16$ 47,786.40$ 42,443.31$ 60,000.00$ 48,397.00$ 45,000.00$ 260,000.00$ 260,000.00$ 33990-211 Event - Social Security - Noncert 1,100.50$ 632.90$ 2,366.09$ 2,295.00$ 2,793.00$ 2,743.00$ 19,890.00$ 19,890.00$ 33990-212 Event - Social Security - Cert 539.21$ -$ 777.78$ 2,295.00$ 700.00$ 700.00$ 1,500.00$ 1,500.00$ 33990-214 Event - Retirement - Noncert 103.50$ 283.03$ 537.99$ 900.00$ 864.00$ -$ 7,800.00$ 7,800.00$ 33990-216 Event - TRF - Employed 7/1/95 or after 567.09$ -$ 988.58$ 3,090.00$ -$ -$ 1,000.00$ 1,000.00$ 33990-225 Event - Workers Comp Ins -$ -$ 2,971.23$ 500.00$ 5,000.00$ -$ 2,500.00$ 2,500.00$ 33990-241 Event - Employer Contrib Cert - 403(b) & 1,321.19$ -$ 43.18$ 825.00$ -$ -$ 1,000.00$ 1,000.00$ 33990-319 Event Workers - Contract Services 44,810.25$ 56,093.00$ 55,000.00$ 50,000.00$ 50,000.00$

Subtotal - Event Workers - 33990 24,924.65$ 48,702.33$ 94,938.41$ 69,905.00$ 113,847.00$ 103,443.00$ 343,690.00$ 343,690.00$

Subtotal - Noninstructional Services - 30000 316,457.24$ 397,494.87$ 404,082.45$ 289,525.00$ 419,982.00$ 373,268.00$ 653,690.00$ 653,690.00$

GRAND TOTAL - GENERAL FUND 33,602,249.92$ 33,203,473.20$ 33,507,454.13$ 37,983,786.00$ 36,917,250.78$ 35,415,263.00$ 35,742,448.00$ 34,614,989.00$


EXPENDITURES :DEBT SERVICE FUNDS

$16,000,000

$17,000,000

$18,000,000

$19,000,000

2008 2009 2010 2011 2012 2013

Actual Debt Service

Although usually referred to collectively as Debt Service, the school corporation actually has twoseparate funds for Debt Service. The larger of these, which is properly called the Debt ServiceFund, is used only to make payments of principal and interest on the school corporation’s long-term debt which resulted from the construction of buildings or additions to school buildings orother major school facilities. Currently this includes only debt from various Lease-Rental bondissues. These bond issues financed the construction of new buildings and facilities for theschool corporation. All were originally issued between 1996 and 2005 as the schoolcorporation’s enrollment growth increased dramatically and required us to provide additionalclassroom space and other facilities to serve our growing student population.

However, a number of refinancings of these bonds have also taken place since 1996 in an effortto reduce the total debt service payments by obtaining more advantageous interest rates. Noneof the refinancings were undertaken to increase the total outstanding debt. We were assisted inthis in 2009 when Zionsville Community Schools received an upgrade of its basic credit ratingfrom Standard and Poor’s from A+ to AA-. This was very helpful in achieving a significant costreduction at that time. In 2011, our credit rating of AA- was affirmed by Standard & Poor’s as werefunded the bonds originally issued in 2001.

For 2012, we were successful in refinancing a number of bonds in a debt restructuring asapproved by the voters of the district in a referendum. As part of the process for issuing thesebonds, Standard & Poor’s again affirmed our credit rating of AA-, but did lower our outlook fromneutral to negative. We hope to reverse that in 2013 when our next annual credit review isconducted. As shown on the chart and tables in this subsection for debt service, the debtrestructuring lowers our actual debt payments for 2012 through 2015. The accompanyingmaterial reflects the effects of all refunding to date including the restructuring completed inMarch 2012.

The total debt service on the outstanding bonds, including principal and interest, as well as forinterest on temporary loans (plus certain minor adjustments allowed by the state for unfundedfree textbooks) will be approximately $17.7 million for 2013.

A small separate fund, the Retirement/Severance Bond Debt Service Fund, is used to accountfor the payments made on General Obligation bonds issued in 2004. These bonds financed abuyout of the school corporation’s unfunded accrued liability that had accumulated in the formerlocal pension plan under the terms of the collective bargaining agreement with the ZionsvilleEducators Association (ZEA). The total debt service on these bonds will be approximately$755,000 for 2013.


A combined statement of all of Zionsville Community Schools’ long-term debt is shown as thefirst exhibit in this section. The statement shows the total debt as of June 30, 2012 along withprojected balances as of December 31, 2012 and December 31, 2013.

Following the statement is a chart showing future required debt service payments for the long-term lease-rental debt on our buildings. The final exhibit in this section shows a summary of thefuture debt service requirements and amortization schedules for all outstanding long-term debtincluding the lease rental bonds and the pension bonds.

A copy of the latest credit rating notice received from Standard and Poor’s, as a supplement tothe information contained in this budget book, is available on our website.


Scheduled Projected Scheduled Projected Scheduled ProjectedTotal Total Principal Total Principal Total Principal Total

Outstanding Principal Refunding Outstanding to be Paid Outstanding to be Paid Outstanding to be Paid OutstandingDebt as of Paid as of Issues as of Principal as of 7/1/2012 to Debt as of 1/1/2013 to Debt as of 1/1/2014 to Debt as of 01/01/12 06/30/12 06/30/12 06/30/12 12/31/12 12/31/12 12/31/13 12/31/13 12/31/14 12/31/14

General Obligation Bonds:Pension Bond of 2004 6,760,000.00$ 175,000.00$ -$ 6,585,000.00$ 180,000.00$ 6,405,000.00$ 375,000.00$ 6,030,000.00$ 400,000.00$ 5,630,000.00$

Subtotals - G. O. Bonds 6,760,000.00$ 175,000.00$ -$ 6,585,000.00$ 180,000.00$ 6,405,000.00$ 375,000.00$ 6,030,000.00$ 400,000.00$ 5,630,000.00$

Lease-Rental Bonds:Lease Rental of 1999 CABS 2,661,989.10$ -$ -$ 2,661,989.10$ -$ 2,661,989.10$ -$ 2,661,989.10$ -$ 2,661,989.10$ Lease Rental of 2000 CABS 459,630.80$ -$ -$ 459,630.80$ -$ 459,630.80$ -$ 459,630.80$ -$ 459,630.80$ Lease Rental of 2002 CABS 5,501,137.90$ -$ -$ 5,501,137.90$ -$ 5,501,137.90$ -$ 5,501,137.90$ -$ 5,501,137.90$ Lease Rental of 2003A 1,635,000.00$ -$ (1,635,000.00)$ -$ -$ -$ -$ -$ -$ -$ Lease Rental of 2003Z 4,477,853.00$ -$ (2,550,000.00)$ 1,927,853.00$ -$ 1,927,853.00$ -$ 1,927,853.00$ -$ 1,927,853.00$ Lease Rental of 2005A 62,095,000.00$ 420,000.00$ (4,520,000.00)$ 57,155,000.00$ 425,000.00$ 56,730,000.00$ 440,000.00$ 56,290,000.00$ 125,000.00$ 56,165,000.00$ Lease Rental of 2005Z 48,720,054.40$ 200,000.00$ -$ 48,520,054.40$ 205,000.00$ 48,315,054.40$ 485,000.00$ 47,830,054.40$ 435,000.00$ 47,395,054.40$ Refunding of 2005Z 12,765,000.00$ 1,010,000.00$ -$ 11,755,000.00$ 1,035,000.00$ 10,720,000.00$ 2,135,000.00$ 8,585,000.00$ 2,245,000.00$ 6,340,000.00$ Refunding of 2007 27,860,000.00$ 5,000.00$ -$ 27,855,000.00$ 5,000.00$ 27,850,000.00$ 575,000.00$ 27,275,000.00$ 1,725,000.00$ 25,550,000.00$ Refunding of 2009 16,770,000.00$ 840,000.00$ -$ 15,930,000.00$ 855,000.00$ 15,075,000.00$ 2,500,000.00$ 12,575,000.00$ 2,595,000.00$ 9,980,000.00$ Refunding of 2011 21,565,000.00$ 1,170,000.00$ -$ 20,395,000.00$ 1,180,000.00$ 19,215,000.00$ 2,415,000.00$ 16,800,000.00$ 2,510,000.00$ 14,290,000.00$ Refunding of 2012A -$ -$ 4,020,341.55$ 4,020,341.55$ -$ 4,020,341.55$ -$ 4,020,341.55$ -$ 4,020,341.55$ Refunding of 2012B -$ -$ 4,749,475.95$ 4,749,475.95$ -$ 4,749,475.95$ -$ 4,749,475.95$ -$ 4,749,475.95$

Subtotals - Debt for Facilities 204,510,665.20$ 3,645,000.00$ 64,817.50$ 200,930,482.70$ 3,705,000.00$ 197,225,482.70$ 8,550,000.00$ 188,675,482.70$ 9,635,000.00$ 179,040,482.70$

TOTAL LONG-TERM DEBT 211,270,665.20$ 3,820,000.00$ 64,817.50$ 207,515,482.70$ 3,885,000.00$ 203,630,482.70$ 8,925,000.00$ 194,705,482.70$ 10,035,000.00$ 184,670,482.70$

Zionsville Community SchoolsSummary of Debt

As of June 30, 2012 with Projections for 2013 and 2014


2005

2006

2007

2008

2009

2010

2011

2012

2013

2014

2015

2016

2017

2018

2019

2020

2021

2022

2023

2024

2025

2026

2027

2028

2029

2030

Annual Debt Service Payments Existing Lease-Rental Bond Debt

Historical Debt Service PaymentsDebt Service Requirements with 2012 RestructuringDebt Service Requirements Prior to Restructuring


Remaining RemainingDebt Principal Interest

Service Balance BalancePayment Prior to Prior to Total

Dates Payment Payment Principal Interest Payment6/30/2013 203,630,482.70$ 106,817,739.54$ 4,140,000.00$ 4,400,918.64$ 8,540,918.64$

12/31/2013 199,490,482.70$ 102,416,820.90$ 4,785,000.00$ 4,314,981.39$ 9,099,981.39$ 6/30/2014 194,705,482.70$ 98,101,839.51$ 4,695,000.00$ 4,210,412.39$ 8,905,412.39$

12/31/2014 190,010,482.70$ 93,891,427.12$ 5,340,000.00$ 4,104,955.39$ 9,444,955.39$ 6/30/2015 184,670,482.70$ 89,786,471.73$ 5,995,000.00$ 3,981,147.39$ 9,976,147.39$

12/31/2015 178,675,482.70$ 85,805,324.34$ 7,125,000.00$ 3,848,463.89$ 10,973,463.89$ 6/30/2016 171,550,482.70$ 81,956,860.45$ 7,415,069.20$ 3,880,323.19$ 11,295,392.39$

12/31/2016 164,135,413.50$ 78,076,537.26$ 7,576,560.00$ 3,716,429.14$ 11,292,989.14$ 6/30/2017 156,558,853.50$ 74,360,108.12$ 8,078,153.10$ 3,539,288.04$ 11,617,441.14$

12/31/2017 148,480,700.40$ 70,820,820.08$ 7,620,826.50$ 3,999,897.39$ 11,620,723.89$ 6/30/2018 140,859,873.90$ 66,820,922.69$ 8,703,570.00$ 3,644,745.01$ 12,348,315.01$

12/31/2018 132,156,303.90$ 63,176,177.68$ 7,334,916.70$ 3,467,238.93$ 10,802,155.63$ 6/30/2019 124,821,387.20$ 59,708,938.75$ 7,611,257.00$ 3,301,822.63$ 10,913,079.63$

12/31/2019 117,210,130.20$ 56,407,116.12$ 7,774,556.95$ 3,137,171.18$ 10,911,728.13$ 6/30/2020 109,435,573.25$ 53,269,944.94$ 6,718,872.20$ 4,180,378.43$ 10,899,250.63$

12/31/2020 102,716,701.05$ 49,089,566.51$ 6,849,852.25$ 4,066,595.38$ 10,916,447.63$ 6/30/2021 95,866,848.80$ 45,022,971.13$ 6,972,493.10$ 3,932,225.53$ 10,904,718.63$

12/31/2021 88,894,355.70$ 41,090,745.60$ 7,109,733.45$ 3,809,455.18$ 10,919,188.63$ 6/30/2022 81,784,622.25$ 37,281,290.42$ 7,238,946.40$ 3,665,661.23$ 10,904,607.63$

12/31/2022 74,545,675.85$ 33,615,629.19$ 7,377,412.40$ 3,533,713.73$ 10,911,126.13$ 6/30/2023 67,168,263.45$ 30,081,915.46$ 6,604,134.00$ 2,690,459.63$ 9,294,593.63$

12/31/2023 60,564,129.45$ 27,391,455.83$ 6,726,278.20$ 2,566,981.93$ 9,293,260.13$ 6/30/2024 53,837,851.25$ 24,824,473.90$ 6,868,168.00$ 2,428,113.88$ 9,296,281.88$

12/31/2024 46,969,683.25$ 22,396,360.02$ 7,004,811.35$ 2,295,516.28$ 9,300,327.63$ 6/30/2025 39,964,871.90$ 20,100,843.74$ 6,198,263.20$ 1,537,233.68$ 7,735,496.88$

12/31/2025 33,766,608.70$ 18,563,610.06$ 6,303,288.75$ 1,434,839.38$ 7,738,128.13$ 6/30/2026 27,463,319.95$ 17,128,770.68$ 6,413,618.60$ 1,319,093.90$ 7,732,712.50$

12/31/2026 21,049,701.35$ 15,809,676.78$ 6,539,580.00$ 1,204,298.13$ 7,743,878.13$ 6/30/2027 14,510,121.35$ 14,605,378.65$ 4,099,533.40$ 2,341,841.60$ 6,441,375.00$

12/31/2027 10,410,587.95$ 12,263,537.05$ 3,888,875.20$ 2,030,249.80$ 5,919,125.00$ 6/30/2028 6,521,712.75$ 10,233,287.25$ 2,257,424.00$ 3,662,576.00$ 5,920,000.00$

12/31/2028 4,264,288.75$ 6,570,711.25$ 2,195,576.00$ 3,724,424.00$ 5,920,000.00$ 6/30/2029 2,068,712.75$ 2,846,287.25$ 1,291,544.00$ 1,748,456.00$ 3,040,000.00$

12/31/2029 777,168.75$ 1,097,831.25$ 777,168.75$ 1,097,831.25$ 1,875,000.00$

Totals 203,630,482.70$ 106,817,739.54$ 310,448,222.24$

Zionsville Community Schools Combined Summary of All Outstanding Long-Term Debt

and Debt Service Payment Requirements for 2013 and Future Years

Required Debt Service Payments


2013 CAPITALPROJECTS FUNDEXPENDITURES

The major expenditure areas addressed by the Capital Projects Fund are the personnel costsfor our Technology staff of approximately $1.3 million for 2013 (as allowed by 50 IAC 9-1-4), aportion of certain Corporation-wide costs for utilities and property and casualty insurance(approximately $915,000 for 2013), various equipment maintenance agreements, andcontracted services by outside contractors including energy savings contracts ($875,000 for2013), and assorted building repair, upgrade, and maintenance projects ($952,000 for 2013).

By current state regulations (50 IAC 9-1-4), each school corporation is required to annuallyadopt a formal three-year Capital Projects Plan. The three-year plan, although adoptedannually, has only the first year of the plan actually being made part of the annual budget. Theformat and all of the incorporated elements in the plan are mandated by the DLGF (50 IAC 9-1-5). Also by state regulation at 50 IAC 9-1-5, all CPF budgets must be prepared at the individualbuilding level. The full text of the official three-year Capital Projects Fund Plan is shown inSection 1 of this book with the other official state budget forms and related state-requireddocuments.

However, to assist the reader, the following pie chart shows the breakdown between the variousexpense categories of the projected actual expenditures amounts.

Following the pie chart is a bar graph showing the Capital Project Fund’s actual and projectedexpenditures for 2008 through 2012, compared to the projected actual expenditures we expectto see from this fund during the 2013 budget year. This multi-year comparison demonstratesthe direct correlation, as well as the differences, between these years’ actual expenditures andthe projected 2013 expenditures. As can be readily determined by this graph, our spending forall CPF dropped dramatically for 2011 from prior years. This is a direct result of the reduction inrevenues for our tax-supported funds that occurred with the implementation of the property taxcircuit breaker. As described in Section 3, the school corporation’s total gross loss of propertytax revenue in 2010 exceeded $1.4 million. The 2011 actual loss was $2,041,073. For 2012,the certified loss that we expect to see will be $3,084,038.

However, for 2012 and 2013, despite these escalating losses of property tax revenues, ourrecent debt restructuring, discussed in detail in Section 5 of this book, will have a majormitigating effect on the revenue loss. For 2013, the debt service savings will be $3,004,338.Offset against a projected tax cap circuit breaker loss of $3,504,840, the net loss remainingshould be $500,502. This temporary effect, from which we will benefit again in 2014 and to alesser extent in 2015, allows us to conduct our financial projections and planning for strategicpurposes as if the 2013 revenue loss in property taxes were only $500,502. Accordingly, we will


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be begin to address several major areas of building repair and renovation in 2013 that are badlyneeded

Shown in this sub-section is a copy of the priority requests submitted by our Director ofMaintenance and his staff for each of our buildings. These building needs are deemed to be themost pressing priorities for the Capital Projects Fund for the 2013 budget year that can feasiblybe funded in the 2013 budget year. As noted earlier, we expect to spend $952,000 in 2013 onthe items shown. One special priority, needed replacement of large sections of the ZionsvilleCommunity High School’s roof, is the subject of a special report available on our website. Asummary page from that report showing the condition of the high school roof is the final exhibitin this section and is provided for informational purposes.

The amounts needed for these items are included in the advertised budget appropriations.However, it is highly unlikely that currently available funding within our CPF Fund, given theexpected cap that DLGF will apply to this fund’s tax levy, will be sufficient to make thereplacements and repairs for the roof that have been recommended in the report. In lieu of this,the $952,000 noted above earmarked for assorted building repair and capital outlay itemsincludes $620,000 which as stated in the report should fund the replacement of approximately40% of the roof which was designated in the report as “Condition Red” or being in the worstcondition.

Requests from administrators for each school, as well as by our various department directorsand supervisors dealing with other building and equipment maintenance and infrastructure from2011 are also available on our website. This material provides background data and detail of theitems that were included in the plan but that cannot be funded in 2013.

The final exhibits in this subsection are a summary by building of the expected actual 2013 CPFexpenditures, along with a detailed listing showing actual 2011 expenses, expected 2012expenditures, and projected 2013 expenses, each compared with the advertised appropriationamounts for their respective years.


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31.5%

9.3%

10.4%5.6%

22.2%

21.0%

2013 Capital Projects Fund - Estimated Expenditures

Salaries & Benefits

Energy Savings Contracts

Other Purchased Services

Equip. Supplies & Materials

Building Capital Maint.

Building Utilities & Property Ins


$-

$500,000.00

$1,000,000.00

$1,500,000.00

$2,000,000.00

$2,500,000.00

$3,000,000.00

$3,500,000.00

$4,000,000.00

$4,500,000.00

$5,000,000.00

$5,500,000.00

$6,000,000.00

$6,500,000.00

2008 2009 2010 2011 2012 2013

CPF ExpendituresHistorical Data 2008-2011Estimated 2012 and 2013

Utilities & Property Ins

Capital Maint.

Supplies & Materials

Purchased Services

Savings Contracts

Salaries & Benefits


BUILDING ITEM EST. COST

ZCHS High voltage switch gear inspection, repairs, and maintenance 13,500.00$ (Includes Freshman Center) Repair/replace hallway automatic gate 7,000.00$

Bleacher inspection/maintenance 17,000.00$ Inspection/maintenance of lift station 1,000.00$ Roof replacements (40% of total area) 620,000.00$ Hallway Carpet Repairs and replacements 20,000.00$ Replace/repair duct work on roof 15,000.00$ Install A/C Back-up for the MDF 10,000.00$ Install emergency back-up power for the MDF 15,000.00$

Subtotal - Zionsville Community High School 718,500.00$

ZMS High voltage switch gear maintenance 7,000.00$ Indoor/Outdoor bleacher inspection/maintenance 5,000.00$ Track repairs/resurfacing 50,000.00$

Subtotal - Zionsville Middle School 62,000.00$

ZWMS High voltage switch gear maintenance 7,000.00$ Generator inspection/service 3,000.00$ Bleacher inspection/maintenance 5,000.00$ Playground inspection, repair, and mulch 5,000.00$

Subtotal - Zionsville West Middle School 20,000.00$

Stonegate High voltage switch gear inspection/maintenance 2,500.00$ Parking lot maintenance & striping 15,000.00$ Playground inspection, repair and mulch 2,000.00$ Bleacher inspection/maintenance 2,000.00$

Subtotal - Stonegate Elementary School 21,500.00$

Eagle High voltage switch gear inspection/maintenance 4,000.00$ Investigate water issue in basement 30,000.00$ Parking lot maintenance & striping 10,000.00$ Playground inspection & maintenance 2,000.00$

Subtotal - Eagle Elementary School 46,000.00$

Union High voltage inspections/maintenance 4,000.00$ Bleacher inspection/maintenance 2,000.00$ Parking lot maintenance & striping 20,000.00$ Playground inspection, maintenance and mulch 5,000.00$

Subtotal - Union Elementary School 31,000.00$

PVE High voltage switch gear maintenance 4,500.00$ Tuck pointing boiler stack PVEU 3,000.00$ Parking lot maintenance & striping 22,500.00$ Playground inspection, repair, and mulch 5,000.00$

Subtotal - Pleasant View Elementary School 35,000.00$

Boone Meadow High voltage switch gear inspection/maintenance 4,000.00$ Inspection/maintenance of two lift station pumps 8,000.00$ Playground inspection, repair, and mulch 2,000.00$ Bleacher inspection/maintenance 2,000.00$

Subtotal - Boone Meadow Elementary School 16,000.00$

Transportation Center High voltage inspection/maintenance 2,000.00$

Subtotal - Transportation Center 2,000.00$

TOTAL - ALL FACILITIES 952,000.00$

Zionsville Community Schools2013 Capital Projects Budget

Priority List for Facilities


Zionsville High School

Condition Chart


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REPAIR

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22310 26200 26400 26700 41000 43000 44000 45100 45200 45400 45500 47000 49000Instruction Maint. Maint. Property Fees for Educational Building Energy School Rental of Purchase

Related of of and Casualty Land Acq. Professional Specifications Acquisition Savings Sports Buildings and of EmergencyBuilding Technology Buildings Equipment Insurance and Develop. Services Development and Improv. Contracts Facilities Equipment Equipment Allocation Totals

100 Administration & District 1,352,588$ 630,000$ 62,500$ 270,000$ -$ 30,000$ 20,000$ 5,000$ 400,000$ -$ 500$ 142,500$ -$ 2,913,088$ 200 High School 21,594$ 45,000$ -$ 5,000$ -$ 718,500$ -$ -$ 10,000$ -$ 800,094$ 300 Middle School 12,563$ 25,000$ -$ 5,000$ -$ 12,000$ 50,000$ -$ 7,500$ -$ 112,063$ 350 West Middle School 12,563$ 25,000$ -$ 5,000$ -$ 20,000$ -$ -$ 7,500$ -$ 70,063$ 400 Stonegate 12,563$ 15,000$ -$ 3,000$ -$ 21,500$ -$ -$ 5,500$ -$ 57,563$ 500 Eagle 12,563$ 15,000$ -$ 3,000$ -$ 46,000$ -$ -$ 5,500$ -$ 82,063$ 600 Union 12,563$ 15,000$ -$ 3,000$ -$ 31,000$ -$ -$ 5,500$ -$ 67,063$ 700 Pleasant View 12,563$ 15,000$ -$ 3,000$ -$ 35,000$ -$ -$ 5,500$ -$ 71,063$ 800 Boone Meadow 12,563$ 15,000$ -$ 3,000$ -$ 16,000$ -$ -$ 5,500$ -$ 52,063$ 900 Transportation Center 8,469$ 20,000$ -$ -$ -$ 2,000$ -$ -$ 5,000$ -$ 35,469$ 950 Maintenance Center 2,000$ 15,000$ -$ -$ -$ -$ -$ -$ 5,000$ -$ 22,000$

Combined Totals: 1,472,592$ 630,000$ 267,500$ 270,000$ -$ 60,000$ 20,000$ 907,000$ 400,000$ 50,000$ 500$ 205,000$ -$ 4,282,592$

Zionsville Community SchoolsSummary Analysis of 2013 Capital Projects Plan


2011 2011 2012 2012 2013 2013Account Account Advertised Actual Advertised Projected Advertised Projected Number Name Appropriation Expenditures Appropriation Expenditures Appropriation Expenditures

41000-710-100 Site Acquisition and Development 50,000$ -$ 50,000$ -$ 45,000$ -$ 43000-314-100 Professional Services 75,000$ 25,835$ 75,000$ 25,000$ 45,000$ 20,000$ 44000-312-100 Education Spec. Development 50,000$ 5,605$ 50,000$ -$ 45,000$ 20,000$ 43000-319-100 Contracted Services - ESC 10,000$ 273,418$ 10,000$ 25,000$ 10,000$ 10,000$ 45100-450-100 Facilities Upgrades 25,000$ 1,395$ 25,000$ -$ 25,000$ 5,000$ 45200-430-100 Energy Savings Contracts 600,000$ 400,028$ 400,600$ 400,600$ 405,000$ 400,000$ 45400-730-100 School Sports Facilities 200,000$ 41,886$ 200,000$ -$ 50,000$ 50,000$ 45500-440-100 Rental of Bldgs. & Equip. 10,000$ -$ 10,000$ -$ 5,000$ 500$ 47000-741-120 Tech Plan Purchases - District & Tech Dept. 75,000$ 11,814$ 75,000$ 25,000$ 75,000$ 20,000$ 47000-741-125 Tech Plan Purchases - 1:1 Support 50,000$ -$ 50,000$ -$ 50,000$ 5,000$ 47000-741-135 Tech Plan Purchases - District - Spec Ed 25,000$ -$ 25,000$ -$ 25,000$ 7,500$ 47000-747-100 District-Wide Management Software 50,000$ 194,533$ 50,000$ -$ 100,000$ 50,000$ 47000-730-100 Other Equip. - Dist 25,000$ -$ 126,000$ 50,000$ 50,000$ 10,000$ 47000-730-110 Office Equip. - ESC 25,000$ -$ 25,000$ -$ 25,000$ -$ 47000-730-120 Copier Replacement Program 50,000$ -$ 50,000$ -$ 100,000$ 50,000$ 47000-730-130 ESC - Other Equipment 42,407$ -$ 12,407$ -$ 15,000$ -$ 26800-430-100 Emergency Allocation 750,000$ -$ 750,000$ -$ 750,000$ -$ 26200-621-110 Dist Utilities 500,000$ 351,505$ 675,000$ 615,000$ 650,000$ 630,000$ 26400-430-100 Computer Maint/Serv Agree 50,000$ 29,473$ 50,000$ 50,000$ 50,000$ 12,500$ 26400-430-105 Computer Maint/Serv Agree 75,000$ 75,000$ 75,000$ 75,000$ 10,000$ 26400-430-110 Equipment Maint/Serv Agree 75,000$ 11,758$ 75,000$ 75,000$ 75,000$ 40,000$ 26700-520-110 Dist Property and Casualty Insurance 475,000$ 266,624$ 300,000$ 300,000$ 300,000$ 270,000$ 22310-110-110 Instructional Tech Supervision and Admin 465,932$ 248,724$ 392,788$ 392,788$ 405,000$ 400,631$ 22320-120-110 Student Learning Centers 436,919$ 182,221$ 380,128$ 380,128$ 400,000$ 401,852$ 22330-120-110 Systems Analysis and Planning 105,222$ 245,817$ 64,599$ 64,599$ 250,000$ 143,754$ 22370-120-110 Hardware Maint. & Support 311,457$ 306,641$ 365,184$ 365,184$ 300,000$ 401,852$ 22380-319-100 Professional Development - Tech Personnel 50,000$ -$ 50,000$ 25,000$ 50,000$ 4,500$

Subtotal - Admin./ESC/Dist. 4,656,937$ 2,597,276$ 4,411,706$ 2,868,299$ 4,375,000$ 2,963,088$

43000-319-200 Contracted Services 25,000$ 26,977$ 25,000$ -$ 25,000$ 5,000$ 45100-450-200 Facilities Repairs & Upgrades 288,300$ 17,149$ 976,786$ 100,380$ 1,000,000$ 718,500$ 47000-741-200 Tech Plan Purchases (Per Prior List) 10,850$ -$ 2,850$ -$ 2,850$ 2,500$ 47000-730-200 Classroom Equip. (Per Prior List) 74,400$ -$ 41,000$ -$ 41,000$ 5,000$ 47000-730-205 Other Equipment (Per Prior List) 51,000$ 551$ 33,000$ -$ 33,000$ 3,000$ 47000-730-210 Custodial Equipment (Per Prior List) 13,000$ -$ 12,000$ -$ 12,000$ 2,000$ 26400-430-200 Computer Maint/Serv Agree 19,104$ 3,415$ 19,104$ 19,104$ 19,104$ 19,094$ 26400-430-210 Equipment Maint/Serv Agree 50,000$ 56,457$ 50,000$ 50,000$ 50,000$ 45,000$

Subtotal - ZCHS 531,654$ 104,548$ 1,159,740$ 169,484$ 1,182,954$ 800,094$

Zionsville Community Schools2013 Budget - Comparison of Advertised and Projected Expenditures






43000-319-300 Contracted Services 25,000$ 10,965$ 25,000$ -$ 25,000$ 5,000$ 45100-450-300 Facilities Upgrades 173,400$ 313$ 110,300$ 110,300$ 110,300$ 12,000$ 47000-741-300 Tech Plan Purchases 10,500$ -$ 10,500$ -$ 10,500$ 3,000$ 47000-730-300 Classroom Equip. 15,580$ -$ 9,390$ -$ 9,390$ 4,000$ 47000-730-305 Other Equipment 15,011$ 332$ 9,512$ -$ 9,512$ 2,500$ 47000-730-310 Custodial Equipment 2,000$ -$ 1,000$ -$ 1,000$ 1,000$ 26400-430-300 Computer Maint/Serv Agree 11,804$ 13,748$ 11,804$ 11,804$ 11,804$ 9,563$ 26400-430-310 Equipment Maint/Serv Agree 25,000$ 25,175$ 25,000$ 25,000$ 25,000$ 25,000$

Subtotal - ZMS 278,295$ 50,533$ 202,506$ 147,104$ 202,506$ 62,063$

43000-319-350 Contracted Services 25,000$ 7,706$ 25,000$ -$ 25,000$ 5,000$ 45100-450-350 Facilities Upgrades 100,250$ 175$ 49,500$ 49,500$ 49,500$ 20,000$ 47000-741-350 Tech Plan Purchases 15,495$ -$ 10,995$ -$ 10,995$ 3,000$ 47000-730-350 Classroom Equip. 5,000$ -$ 2,000$ -$ 2,000$ 4,000$ 47000-730-355 Other Equip. 9,150$ -$ 1,000$ -$ 1,000$ 2,500$ 47000-730-360 Custodial Equipment 10,000$ -$ 1,000$ -$ 1,000$ 1,000$ 26400-430-350 Computer Maint/Serv Agree 9,562$ 7,097$ 9,563$ 9,563$ 9,563$ 9,563$ 26400-430-355 Equipment Maint/Serv Agree 25,000$ 35,459$ 25,000$ 25,000$ 25,000$ 25,000$

Subtotal - ZWMS 199,457$ 50,437$ 124,058$ 84,063$ 124,058$ 70,063$

43000-319-400 Contracted Services 25,000$ 2,362$ 25,000$ -$ 25,000$ 3,000$ 45100-450-400 Facilities Upgrades 66,620$ 392$ 36,200$ 36,200$ 36,200$ 21,500$ 47000-741-400 Tech Plan Purchases 9,400$ -$ -$ -$ 3,000$ 3,000$ 47000-730-400 Classroom Equip. 5,800$ -$ 1,500$ -$ 1,500$ 1,500$ 47000-730-405 Other Equipment 11,000$ 1,511$ 5,500$ -$ 5,500$ 3,000$ 47000-730-410 Custodial Equipment 500$ -$ 12,500$ -$ 12,500$ 1,000$ 26400-430-400 Computer Maint/Serv Agree 7,684$ 2,690$ 9,563$ 9,563$ 9,563$ 9,563$ 26400-430-410 Equipment Maint/Serv Agree 15,000$ 20,907$ 15,000$ 15,000$ 15,000$ 15,000$

Subtotal - Stonegate 141,004$ 27,862$ 105,263$ 60,763$ 108,263$ 57,563$

43000-319-500 Contracted Services 25,000$ 2,663$ 25,000$ -$ 25,000$ 3,000$ 45100-450-500 Facilities Upgrades 100,750$ 1,544$ 73,500$ 73,500$ 73,500$ 46,000$ 47000-741-500 Tech Plan Purchases 6,000$ -$ 7,000$ -$ 3,000$ 3,000$ 47000-730-500 Classroom Equip. 16,000$ -$ 9,000$ -$ 9,000$ 1,500$





47000-730-505 Other Equipment 10,500$ -$ 4,000$ -$ 4,000$ 3,000$ 47000-730-510 Custodial Equipment 12,000$ -$ 500$ -$ 500$ 1,000$ 26400-430-500 Computer Maint/Serv Agree 10,613$ 3,321$ 9,563$ 9,563$ 9,563$ 9,563$ 26400-430-510 Equipment Maint/Serv Agree 15,000$ 5,959$ 15,000$ 15,000$ 15,000$ 15,000$

Subtotal - Eagle 195,863$ 13,487$ 143,563$ 98,063$ 139,563$ 82,063$

43000-319-600 Contracted Services 25,000$ 5,275$ 25,000$ -$ 25,000$ 3,000$ 45100-450-600 Facilities Upgrades 46,500$ 579$ 38,000$ 38,000$ 38,000$ 31,000$ 47000-741-600 Tech Plan Purchases 16,500$ -$ 3,000$ -$ 3,000$ 3,000$ 47000-730-600 Classroom Equip. 5,100$ -$ 2,800$ -$ 2,800$ 1,500$ 47000-730-605 Other Equipment 8,700$ -$ 250$ -$ 250$ 3,000$ 47000-730-610 Custodial Equipment 2,700$ -$ 700$ -$ 700$ 1,000$ 26400-430-600 Computer Maint/Serv Agree 7,592$ 2,967$ 9,563$ 9,563$ 9,563$ 9,563$ 26400-430-610 Equipment Maint/Serv Agree 15,000$ 8,225$ 15,000$ 15,000$ 15,000$ 15,000$

Subtotal - Union 127,092$ 17,046$ 94,313$ 62,563$ 94,313$ 67,063$

43000-319-600 Contracted Services 25,000$ 5,410$ 25,000$ -$ 25,000$ 3,000$ 45100-450-600 Facilities Upgrades 112,600$ 1,957$ 32,700$ 32,700$ 32,700$ 35,000$ 47000-741-600 Tech Plan Purchases 22,630$ 793$ 7,630$ -$ 7,630$ 3,000$ 47000-730-700 Classroom Equip. 7,400$ -$ 7,100$ -$ 7,100$ 1,500$ 47000-730-705 Other Equipment 1,500$ 332$ -$ -$ -$ 3,000$ 47000-730-710 Custodial Equipment 1,000$ -$ 12,500$ -$ 12,500$ 1,000$ 26400-430-700 Computer Maint/Serv Agree 11,375$ 3,239$ 9,563$ 9,563$ 9,563$ 9,563$ 26400-430-710 Equipment Maint/Serv Agree 15,000$ 19,370$ 15,000$ 15,000$ 15,000$ 15,000$

Subtotal - PVE 196,505$ 31,100$ 109,493$ 57,263$ 109,493$ 71,063$

43000-319-800 Contracted Services 25,000$ 9,219$ 25,000$ -$ 25,000$ 3,000$ 45100-800-800 Facilities Upgrades 61,900$ 186$ 35,500$ 35,500$ 35,500$ 16,000$ 47000-741-800 Tech Plan Purchases 10,000$ -$ -$ -$ 3,000$ 3,000$ 47000-730-800 Classroom Equip. 12,000$ -$ 5,000$ -$ 5,000$ 1,500$ 47000-730-805 Other Equipment 1,450$ 332$ -$ -$ -$ 3,000$ 47000-730-810 Custodial Equipment 1,500$ -$ 12,500$ -$ 12,500$ 1,000$ 26400-430-800 Computer Maint/Serv Agree 4,800$ 78$ 9,563$ 9,563$ 9,563$ 9,563$ 26400-430-810 Equipment Maint/Serv Agree 15,000$ 4,476$ 15,000$ 15,000$ 15,000$ 15,000$

Subtotal - Boone Meadow 131,650$ 14,290$ 102,563$ 60,063$ 105,563$ 52,063$





43000-319-900 Contracted Services 5,000$ -$ 5,000$ -$ 5,000$ -$ 25350-323-900 Facilities Upgrades 33,000$ 3,575$ 16,450$ 16,450$ 16,450$ 2,000$ 47000-741-900 Tech Plan Purchases 13,500$ -$ 4,000$ -$ 4,000$ 2,000$ 47000-730-905 Other Equipment 87,500$ -$ 91,350$ -$ 91,350$ 5,000$ 47000-730-910 Custodial Equipment 1,000$ -$ -$ -$ -$ -$ 26400-430-900 Computer Maint/Serv Agree 6,469$ 10,083$ 6,469$ 6,469$ 6,469$ 6,469$ 26400-430-910 Equipment Maint/Serv Agree 20,000$ 6,037$ 20,000$ 20,000$ 20,000$ 20,000$

Subtotal - Trans. Ctr. 166,469$ 19,695$ 143,269$ 42,919$ 143,269$ 35,469$

43000-319-950 Contracted Services 5,000$ -$ 5,000$ -$ 5,000$ -$ 25350-323-950 Facilities Upgrades 14,500$ 725$ -$ -$ -$ -$ 47000-741-950 Tech Plan Purchases 2,500$ -$ 2,000$ -$ 2,000$ 2,000$ 47000-730-955 Other Equipment 25,500$ -$ 52,600$ -$ 52,600$ 5,000$ 47000-730-960 Custodial Equipment 1,000$ 8,867$ -$ -$ -$ -$ 26400-430-950 Computer Maint/Serv Agree 1,050$ 570$ -$ -$ -$ -$ 26400-430-955 Equipment Maint/Serv Agree 15,000$ 1,220$ 15,000$ 15,000$ 15,000$ 15,000$

Subtotal - Maint. Ctr. 64,550$ 11,382$ 74,600$ 15,000$ -$ -$

Interfund Loan 65,824$

Combined Totals - Capital Projects Fund 6,689,476$ 3,003,481$ 6,671,074$ 3,665,584$ 6,659,582$ 4,282,592$


TRANSPORTATION ANDBUS REPLACEMENT

FUNDS

The Transportation Fund, for 2013, is projected to have expenditures of $3.068 million. Asshown on the following chart, approximately 79% of the Transportation Fund’s 2013expenditures will be for personnel costs. Other major cost areas include bus fuel, busmaintenance costs (including contracted repairs, parts, supplies, tires, etc.), insurance on ourfleet, and utilities for the Transportation Center.

Following the pie chart is a detailed table showing the Transportation Fund’s budgetedappropriations as advertised for 2011, 2012, and 2013, compared to the actual expenditures for2011 and the projected expenses for 2012 and 2013. This multi-year comparison demonstratesthe direct correlation, as well as the differences, between these years’ expenditures andappropriations and the projected 2013 actual expenditures.

The Bus Replacement Fund addresses only one major expenditure area: the purchase ofschool buses. Although the name of this fund implies that it is primarily for the purchase of newbuses to replace older buses as they reach the end of their service lives, many growing schoolcorporations find it necessary to devote a large share of this fund to purchasing additionalbuses.

PL146, an act passed by the Indiana General Assembly in 2008 includes a provision thatmandates that all Indiana public school corporations assume that every school bus will have auseful service life of twelve years. The law requires that we construct bus replacement plansreflecting this. Prior to the passage of PL146, existing state statute specified a presumption of aten year service life for school buses. To comply with the statute, the 2013 Bus ReplacementPlan incorporates the starting assumption that all buses are operable under normal conditionsfor a 12- year life span. The official Bus Replacement Plan for 2013 – 2024, is shown on Section3 of this book in the official state budget forms and documents.

For 2013, the official plan for the Bus Replacement Fund’s advertised expenditures includes thereplacement of nine buses (eight type “D” buses and one type “A”) and the purchase of sixadditional full-size type “D” buses and one smaller type “A” bus for total budgeted expendituresof $1,555,356.


However, this will be adjusted markedly once final budget appropriations are approved by theState of Indiana. As part of their implementation of a new statute enacted in 2011 by thelegislature, DLGF will be establishing a capped levy for all public school corporation’s BusReplacement Funds. For 2012, DLGF ultimately established $744,575 as the cap. This amountwill be adjusted upwards for 2013, as are a number of other funds, by the current six-year rollingaverage of the growth of non-farm personal income in the state. For 2013, DLGF hasannounced that by their computation, this factor will be set at 2.8% for budget purposes.Accordingly, we expect that the maximum cap on the levy for the Bus Replacement Fund will be$765,423.

Statutory requirements, under IC 20-48-1-2, already in existence required that the local tax levythat is used to fund the debt service on outstanding retirement and severance bonds must beoffset against the levy approved for other funds. As a practical matter, for most schoolcorporations in Indiana, including Zionsville Community Schools, this means that the BusReplacement Fund’s theoretical maximum levy (the $765,423 noted above) is reduced furtherby the amount required for pension bond levy neutrality. The 2012 session of the legislature,through the passage of HB1192, amended IC 20-48-1-2 to require that for 2013, the offset forpension bond levy neutrality that must be deducted from the Bus Replacement Fund’s cappedlevy must equal 25% of the actual pension bond levy. Making this statutorily mandatedadjustment, we estimate that the actual maximum levy which will be allowed for the BusReplacement Fund for 2013 will be approximately $575,588. Since this is the first year of thenew computation under this recently passed statute, a higher degree of uncertainty than usual,and thus larger than usual margin for error, should be assumed in this estimate.

As noted earlier, the Bus Replacement Fund is expected in 2013 actually to purchase only theone small type “A” bus and six additional full-size type “D” buses, at an estimated cost ofaround $706,980. That amount is reflected in the projected actual expenditures for this fund.


39.7%

4.5%

0.7%5.6%

28.3%

13.0%

3.7% 1.2% 2.9%0.3% 0.2% 0.0%

2013 Transportation Fund - Estimated Expenditures

Drivers' Salaries

Mechanics' Salaries

Aides' Salaries

Director and Support Staff Salaries

Personnel Benefits

Vehicle Fuel

Vehicle Parts and Supplies

Vehicle Repair Services

Utilities and Insurance

Office Supplies and Misc

Special Ed Contracts

Equipment


2011 Actual Advertised 2012 Advertised 2013Advertised 2011 2012 Projected 2013 Projected

Account # Name of Account Appropriation Expenditures Appropriation Expenditures Appropriation Expenditures

SERVICE AREA DIRECTION - 2701027010-110-0631-9000 Dir Trans Sal -$ 55,016.00$ 75,000.00$ 55,841.24$ 70,000.00$ 57,000.00$

Subtotal - Service Area Direction -$ 55,016.00$ 75,000.00$ 55,841.24$ 70,000.00$ 57,000.00$

VEHICLE OPERATION - 2710027100-120-0631 Manager Sal 75,000.00$ 3,641.10$ 65,000.00$ -$ 75,000.00$ -$ 27100-120-0631 Driver Sal 1,283,939.00$ 932,171.21$ 1,340,962.00$ 1,074,318.67$ 1,658,146.00$ 1,102,920.00$ 27100-120.02-0631 Mechanic Sal 186,000.00$ 120,985.64$ 163,725.00$ 137,622.12$ 213,725.00$ 127,439.00$ 27100-120.03-0631 Aides Sal 90,000.00$ 17,654.00$ 50,000.00$ 27,762.28$ 50,000.00$ 18,734.00$ 27100-130.01-0631 ECA Trips 85,000.00$ 72,017.38$ 75,000.00$ 93,888.84$ 105,000.00$ 25,000.00$ 27100-211-0631 Social Security - Noncert 146,013.00$ 90,234.39$ 126,966.00$ 114,077.26$ 169,591.00$ 109,733.00$ 27100-212-0631 Social Security - Cert -$ 248.73$ -$ 97.64$ 5,738.00$ -$ 27100-214-0631 Retirement 47,456.00$ 29,943.53$ 44,391.00$ 44,736.18$ 66,506.00$ 43,033.00$ 27100-216-0631 TRF -$ 2,653.30$ -$ 88.74$ 7,875.00$ -$ 27100-220-0631 Group Insurance 600,500.00$ 626,447.26$ 600,000.00$ 664,210.02$ 690,000.00$ 613,546.00$ 27100-225-0631 Workers Comp 50,000.00$ 40,648.07$ 45,000.00$ 36,381.60$ 50,000.00$ 37,500.00$ 27100-240-0631 CDL Physical Exams 250.00$ 250.00$ 500.00$ 500.00$ 2,500.00$ 500.00$ 27100-333-0631 CDL/Skills Test 1,000.00$ 400.00$ 500.00$ 500.00$ 2,500.00$ 500.00$ 27100-580-0631 Mileage & Conf 3,000.00$ -$ 2,000.00$ 500.00$ 750.00$ 500.00$

Subtotal - Vehicle Operation 2,568,158.00$ 1,937,294.61$ 2,514,044.00$ 2,194,683.35$ 3,097,331.00$ 2,079,405.00$

MONITORING SERVICES - 2720027200-430-0631 Pur Serv 26,000.00$ 11,604.18$ 21,000.00$ 9,156.06$ 10,000.00$ 10,000.00$ 27200-611-0631 Supplies 15,000.00$ 3,083.27$ 15,000.00$ 1,252.12$ 7,500.00$ -$ 27200-730-0631 Equip 75,000.00$ 192.59$ 75,000.00$ 12,000.00$ -$ -$

Subtotal - Monitoring 116,000.00$ 14,880.04$ 111,000.00$ 22,408.18$ 17,500.00$ 10,000.00$


TRANSPORTATION FUND





TRANSPORTATION FUND

VEHICLE SERV & MAINT - 2730027300-411-0631 Bldg Water/Sewage 3,000.00$ 10,037.71$ 3,000.00$ 750.04$ 13,500.00$ 4,500.00$ 27300-419-0631 Bldg Util -$ 360.00$ 500.00$ 360.00$ 10,500.00$ -$ 27300-430-0631 Cont Repairs 50,000.00$ 19,458.35$ 55,000.00$ 21,359.64$ 64,000.00$ 25,000.00$ 27300-611-0631 Parts & Supplies 120,000.00$ 75,406.16$ 105,000.00$ 90,952.66$ 97,500.00$ 80,000.00$ 27300-612-0631 Tires & Repair 37,000.00$ 21,665.04$ 44,500.00$ 58,035.06$ 65,000.00$ 25,000.00$ 27300-613-0631 Fuel 500,000.00$ 319,056.10$ 650,000.00$ 343,859.46$ 465,000.00$ 370,000.00$ 27300-622-0631 Bldg Heat 10,000.00$ 6,062.31$ 12,500.00$ 333.58$ 15,000.00$ 9,500.00$ 27300-625-0631 Bldg Lgt/Power 16,000.00$ 11,857.93$ 15,000.00$ 1,594.00$ 17,500.00$ 12,000.00$ 27300-730-0631 Equip 50,000.00$ 6,000.00$ 50,000.00$ 25,000.00$ 60,000.00$ -$

Subtotal - Vehicel Serv & Maint 786,000.00$ 469,903.60$ 935,500.00$ 542,244.44$ 808,000.00$ 526,000.00$

INSURANCE ON SCHOOL BUSES - 2750027500-520-0631 Ins Premium 170,000.00$ 52,978.00$ 125,000.00$ 54,392.98$ 115,000.00$ 56,500.00$

Subtotal - Vehicle Ins 170,000.00$ 52,978.00$ 125,000.00$ 54,392.98$ 115,000.00$ 56,500.00$

CONTRACTED PUP TRANSP - 2770027700-331.01-0631 Spec Ed Contract 26,500.00$ -$ 25,000.00$ 11,684.10$ 12,500.00$ 5,000.00$

Subtotal - Spec Ed Contracts 26,500.00$ -$ 25,000.00$ 11,684.10$ 12,500.00$ 5,000.00$





TRANSPORTATION FUND

OTHER TRANS SERV - 2790027900-120-0631 Office Salaries 60,000.00$ 112,851.51$ 110,000.00$ 101,772.89$ 120,000.00$ 103,329.00$ 27900-333-0631 Titles & Plates 1,000.00$ 171.10$ 1,000.00$ 384.30$ 3,000.00$ 1,000.00$ 27900-611-0631 Supplies and Training 6,000.00$ 3,148.96$ 5,000.00$ 2,077.74$ 7,500.00$ 5,000.00$

Subtotal - Other Trans Serv 67,000.00$ 116,171.57$ 116,000.00$ 104,234.93$ 130,500.00$ 109,329.00$

NONPROGRAMMED CHARGES 6000060114 PL 109-2010 Transfer $160,000.00 -$ -$ -$ -$ 60114 Transfer to Debt Service -$ -$ -$

Subtotal - Transfers 160,000.00$ -$ -$ -$ -$ -$

TOTAL TRANSPORTATION FUND 3,893,658.00$ 2,646,243.82$ 3,901,544.00$ 2,985,489.22$ 4,250,831.00$ 2,843,234.00$


Section 6

201CASH FLOW PROJECTIONS

In this section of our budget book, we use the data and information presented in the twopreceding sections, supplemented with additional forecastshorizon a bit and to attempt torevenues and expenditures. Specifically, although the scope of this book is focused on the 201budget year, we have extrapolated figures using currently known facts as well as assumptionsabout unknown values to extend our window to look out through the 2012school years and the 2014 calendar year.

In constructing the 2013 and 201and cash balances for the remainamounts shown are those which in our opinion are the mostexpenditures, and resulting cash balances for each year based on essentially a status quoapproach. In other words, for the projection of expenditures we have assumed: 1of the same staffing and staffing levels in 201have in all departments after the addition of the new teachers hired for the 2012year as a result of increased funding from the successful operating referendum and theimplementation of the new full-day kindergarten programemployees in accordance with the existing collective bargaining agreem2012-2013 school year (and certain undisclagreement as it will be re-negotiated for the 2013year for all non-bargaining unit employees;various non-payroll costs and expenses except for those instances i2013 are already known or expected

For revenue projections we have assumed that nocurrent statutory language governing the school funding formula2013 by the next session of the legislature for the 2014 and 2015 fiscal years. However, see theSpecial Focus Section (Section 2 of this book) forschool funding formula. We have also assumed that each of the various laws and regulationsgoverning property taxes will remain unchanged and that 2013’srevenues may be calculated in theproperty tax circuit breaker losses will continue for 201J. Umbaugh Co.’s 2010 projections, as is the case for 201miscellaneous revenues from all sources other than state aid and property tax sources willremain stable through 2014.

2013 BUDGET:CASH FLOW PROJECTIONS

In this section of our budget book, we use the data and information presented in the twopreceding sections, supplemented with additional forecasts both to lengthen our planning

attempt to determine the implications of our forecasts and projections forrevenues and expenditures. Specifically, although the scope of this book is focused on the 201budget year, we have extrapolated figures using currently known facts as well as assumptions

ut unknown values to extend our window to look out through the 2012-2013calendar year.

and 2014 forecasts, we used estimates of our revenues, expenditures,and cash balances for the remainder of the year 2012, as well as for 2013amounts shown are those which in our opinion are the most likely outcomes for revenues,

resulting cash balances for each year based on essentially a status quowords, for the projection of expenditures we have assumed: 1

of the same staffing and staffing levels in 2012-2013, 2013-2014, and 2014 that we currentlyafter the addition of the new teachers hired for the 2012

year as a result of increased funding from the successful operating referendum and theday kindergarten program; 2. pay increases for bargaining unit

employees in accordance with the existing collective bargaining agreement in force through theand certain undisclosed assumptions about the collective bargainingnegotiated for the 2013-2014 school year); 3. pay increase

bargaining unit employees; and 4. only incremental changespayroll costs and expenses except for those instances in which large increases for

2013 are already known or expected.

projections we have assumed that no substantial changes will bcurrent statutory language governing the school funding formula when it is rewritten in early2013 by the next session of the legislature for the 2014 and 2015 fiscal years. However, see theSpecial Focus Section (Section 2 of this book) for an in-depth discussion of the current state

We have also assumed that each of the various laws and regulationsgoverning property taxes will remain unchanged and that 2013’s and 2014’s

ulated in the same way as in prior years. We have assumed that theproperty tax circuit breaker losses will continue for 2013 and 2014 at 100% of theJ. Umbaugh Co.’s 2010 projections, as is the case for 2012. Finally, we assumed that

ues from all sources other than state aid and property tax sources will

CASH FLOW PROJECTIONS

In this section of our budget book, we use the data and information presented in the twothen our planning

determine the implications of our forecasts and projections forrevenues and expenditures. Specifically, although the scope of this book is focused on the 2013budget year, we have extrapolated figures using currently known facts as well as assumptions

2013 and 2013-2014

estimates of our revenues, expenditures,3 and 2014. The

outcomes for revenues,resulting cash balances for each year based on essentially a status quowords, for the projection of expenditures we have assumed: 1. maintenance

that we currentlyafter the addition of the new teachers hired for the 2012-2013 school

year as a result of increased funding from the successful operating referendum and the; 2. pay increases for bargaining unit

ent in force through theosed assumptions about the collective bargaining

pay increases of 3% perand 4. only incremental changes occurring in the

n which large increases for

changes will be made in thewhen it is rewritten in early

2013 by the next session of the legislature for the 2014 and 2015 fiscal years. However, see thedepth discussion of the current state

We have also assumed that each of the various laws and regulationsand 2014’s property tax

We have assumed that theof the level of the H.

Finally, we assumed thatues from all sources other than state aid and property tax sources will


The first exhibit in this section is a revenue projection for the General Fund and for the tax-supported funds, respectively, for the 2013 and 2014 calendar years as well as through the2012-2013 and 2013-2014 school years.

Following the revenue projections are their counterpart expenditure projections. Shown first is aprojection for the General Fund expenditures, followed by a similar projection for the tax-supported and Rainy Day funds.

The next exhibit in this section is a combined projection for the General Fund and the tax-supported funds in a format similar to a proper income statement for the 2013 and 2014 budgetyears. This combined projection shows that major deficits exist in 2013, but that this does notrecur in 2014. As shown in a box at the bottom of this page, the 2013 deficit is actually twoseparate issues.

First, the timing difference that is occurring as we increased staff for 2012-2013 in anticipation ofreceiving Referendum funds in 2013 does cause a short term cash flow deficit in 2013 becauseno funding will be received from this source until late June 2013, although payroll costs areincurred ratably throughout the year beginning in January. We discussed this phenomenon insome length at the May meeting of the Board of School Trustees and received Boardauthorization at that time to expend Rainy Day Funds as needed to “bridge” the schoolcorporation to the Referendum funding. This was done so that the entire 2012-2013 school yeardid not see unacceptably large class sizes and other negative effects while we were waiting foradditional funding to come in mid-2013. The timing difference deficit created by these actions isapproximately $1,050,000 for the first half of 2013. For budget planning purposes, we haveassumed and included in these projections the need for $1.1 million of Rainy Day funds inexcess of our revenues during this six month period. However, there will be no recurrence ofthis effect in 2014.

We also expect to expend approximately one-half million dollars more in Capital Projects Fundsthan we expect that fund to receive in revenues in 2013. This represents a spend-down of thecash balance of that fund to allow us to fund a number of major capital maintenance needs thatmust be addressed. As our projection shows, we expect to have a cash balance as of January1, 2013 that is more than sufficient to allow us to make these expenditures while still maintainingan adequate reserve in this fund. This is quite important given our plan to expend the Rainy DayFund’s balance down to approximately $650,000 - $700,000 by the middle of 2013.

The good news here it is that we project that we will have a balanced General Fund budget for2013 and beyond. Of course this is only possible with the funds we will receive from theReferendum. The Referendum funding, just as was promised to our stakeholders during theperiod leading up to last May’s balloting on the public question regarding the Referendum, issolely devoted to paying the salaries and other payroll costs of teachers. By funding theseteacher costs, the Referendum is reducing our class sizes and directly supporting ourinstructional programs. We estimate that without the Referendum funding, it would be possibleto balance the General Fund budget only by a reduction in force which would entail theequivalent of laying off 70 to 80 teachers from our 2012-2013 staffing levels. This would makeclass sizes going forward far larger than they were here in the 2011-2012 school year and forcemassive program cuts and eliminations which would dwarf the actions taken in 2010 and 2011.Thus the difference the Referendum funding is making in these projections is profound to saythe least, and is crucial to maintaining the quality of our educational programs.


The final exhibit in this section is another combined projection for the General Fund and the tax-supported and Rainy Day funds in a format similar to the familiar “Form 9’ state of receipts,disbursements, and expenditures which the Indiana State Board of Accounts and Indiana StateDepartment of Education have mandated as the standard format for financial statements forschool corporations in this state. It is presented here as a pro-forma to summarize ourprojections for the 2013 and 2014 budget years and to show the expected changes in our fundbalances.

As is true with nearly any financial projection, the reader is advised that the projectionscontained in this budget book generally, and specifically the projections in this section of thebook, are exactly that, i.e. projections. Differences between the amounts shown on the officialstate forms and documents and the other pages or documents in this book, if any, arespeculative, based on assumptions about certain future events, and cannot be construed ascontradictions of or discrepancies in or with the official budget. Further, the projections andestimates shown, while based on the most current information available at the time of theirformulation, are subject to unknown or unexpected events and contingencies at any time duringthe budget year. The actual financial results achieved may therefore be materially different fromthe projections and estimates shown.


Projected Projected Projected ProjectedCalendar Calendar School School

Year Year Year Year2013 2014 2012-2013 2013-2014 Notes:

General Fund State Aid - Basic Grant (Including Categoricals) 32,075,878$ 32,766,609$ 31,956,641$ 32,421,244$ 2Other State Grants and Funding 1,325,320$ 1,373,200$ 1,303,660$ 1,349,260$ 2Misc Local Sources:Interest 5,000$ 7,500$ 4,664$ 6,250$ 3Fees 400,000$ 450,000$ 432,107$ 425,000$ 3ECA Reimbursements 75,000$ 75,000$ 112,473$ 75,000$ 3Facilities Rental 325,000$ 325,000$ 357,740$ 325,000$ 3Other Misc 492,500$ 492,500$ 386,767$ 492,500$ 3Interfund Transfers -$ -$ -$ -$ 3

Totals - General Fund 34,698,698$ 35,489,809$ 34,554,052$ 35,094,254$

Capital Projects FundProperty Taxes 3,520,565$ 3,608,579$ 3,434,506$ 3,564,572$ 4Licenses Excise Tax 183,762$ 188,356$ 206,376$ 186,059$ 5CVET Tax 4,403$ 4,513$ 4,953$ 4,458$ 5FIT Tax 1,717$ 1,760$ 1,926$ 1,739$ 5P.I.L.O.T. -$ -$ -$ -$ Interest and Misc 4,000$ 4,100$ 7,000$ 4,050$ 5Interfund Loan Repayments -$ -$ -$ -$

Totals - Capital Projects Fund 3,714,447$ 3,807,308$ 3,654,761$ 3,760,878$

Transportation FundProperty Taxes 2,700,307$ 2,767,815$ 2,735,534$ 2,734,061$ 4Licenses Excise Tax 152,059$ 155,860$ 170,772$ 153,960$ 5CVET Tax 3,643$ 3,734$ 4,098$ 3,689$ 5FIT Tax 1,421$ 1,457$ 1,594$ 1,439$ 5P.I.L.O.T. -$ -$ -$ -$ Interest and Misc -$ -$ -$ -$ 5

Totals - Transportation Fund 2,857,430$ 2,928,866$ 2,911,998$ 2,893,149$

Zionsville Community SchoolsProjected Revenues

for the Periods Shown



Year Year Year Year2013 2014 2012-2013 2013-2014 Notes:

Zionsville Community SchoolsProjected Revenues

for the Periods Shown

Debt Service Funds (Combined)Property Taxes 17,307,825$ 18,099,889$ 18,128,970$ 17,703,857$ 4Licenses Excise Tax 1,028,800$ 1,054,520$ 1,110,895$ 1,041,660$ 5CVET Tax 24,649$ 25,265$ 26,657$ 24,957$ 5FIT Tax 12,612$ 12,927$ 12,209$ 12,770$ 5P.I.L.O.T. -$ -$ -$ -$ 5Interest and Misc -$ -$ -$ -$ 5

Totals - Debt Service 18,373,886$ 19,192,601$ 19,278,731$ 18,783,244$

Bus Replacement FundProperty Taxes 502,326$ 325,600$ 424,112$ 413,963$ 4Licenses Excise Tax 36,950$ 37,874$ 30,303$ 37,412$ 5CVET Tax 885$ 907$ 727$ 896$ 5FIT Tax 345$ 354$ 283$ 350$ 5P.I.L.O.T. -$ -$ -$ -$ Interest and Misc -$ -$ -$ -$ 5

Totals - Bus Replacement 540,506$ 364,735$ 455,425$ 452,621$

Referendum FundProperty Taxes 4,733,655$ 4,733,655$ 2,366,828$ 4,733,655$ Licenses Excise Tax 233,548$ 239,387$ 116,774$ 236,468$ 5CVET Tax 5,596$ 5,736$ 2,798$ 5,666$ 5FIT Tax 2,182$ 2,237$ 1,091$ 2,210$ 5Interest and Misc -$ -$ -$ -$ Interfund Transfers -$ -$ -$ -$

Totals - Referendum Fund 4,974,981$ 4,981,015$ 2,487,491$ 4,977,999$

Totals - Combined Revenues 65,159,948$ 66,764,334$ 63,342,458$ 65,962,145$

Notes:1 Rainy Day Fund is omitted. Its only revenues are transfers from other funds and minor interest earnings.2 Assumes IBRC Projection of ADM, with current law per pupil funding for all 2013 and 2014. The large increase for

2012 and beyond for "Other State Grants and Funding" reflects the new grant for full-day kindergarten.3 Assumes no state funding reductions or losses in local revenues.4 Projected Property tax revenues are shown with net (after debt restructuring) expected circuit breaker losses

already deducted.5 Excise, FIT, and local revenues are assumed to show 2.5% revenue growth in 2014. Working Document - 2013 Budget - Page 223

Projected ProjectedBudget/ Budget/ Projected Projected

Calendar Calendar School SchoolYear Year Year Year2013 2014 2012-2013 2013-2014

General FundPersonnel Costs

Teacher Salaries 15,372,934$ 15,875,266$ 16,165,908$ 15,546,818$ Teacher Benefits 6,063,291$ 6,138,201$ 6,486,059$ 6,089,221$ Adminstrator Salaries 2,526,993$ 2,564,898$ 2,292,418$ 2,545,946$ Adminstrator Benefits 951,684$ 965,960$ 781,733$ 958,822$ Support Staff Salaries 3,655,171$ 3,709,999$ 3,711,552$ 3,682,585$ Support Staff Benefits 708,951$ 719,586$ 697,597$ 714,268$

Subtotal - Personnel Costs 29,279,025$ 29,973,909$ 30,135,267$ 29,537,660$

Non-Personnel CostsPurchased Services 771,500$ 776,930$ 723,765$ 774,215$ Custodial Services 1,700,000$ 1,734,000$ 1,630,000$ 1,717,000$ Spec Ed Services & Co-ops 958,000$ 967,580$ 957,750$ 962,790$ Utilities & Property Ins 1,040,646$ 1,061,459$ 1,020,368$ 1,051,053$ Supplies and Materials 712,500$ 715,000$ 702,402$ 713,750$ Capital Outlays 46,000$ 47,500$ 40,500$ 46,750$ Other 107,319$ 108,000$ 91,132$ 107,660$

Subtotal - Non-Personnel Costs 5,335,965$ 5,410,469$ 5,165,917$ 5,373,218$

Totals - General Fund 34,614,990$ 35,384,378$ 35,301,184$ 34,910,878$

General FundProjected Expenditures

for 2013 Budget Year and the Periods Shown





Capital Projects FundPersonnel Costs 1,348,088$ 1,388,531$ 1,275,394$ 1,368,310$ Purchased Services 870,004$ 870,004$ 925,180$ 870,004$ Major Maint.: Bldg. & Equip. 1,145,000$ 970,000$ 856,265$ 1,057,500$ Utiities and Property Ins. 915,000$ 915,000$ 915,000$ 915,000$ Other 4,500$ 4,500$ 2,250$ 4,500$

Totals - Capital Projects Fund 4,282,592$ 4,148,035$ 3,974,089$ 4,215,314$

Transportation FundPersonnel Costs 2,238,234$ 2,305,381$ 2,180,464$ 2,271,808$ Purchased Services 36,500$ 37,413$ 35,750$ 36,957$ Supplies and Materials (Including Bus Fuel) 475,000$ 484,500$ 525,500$ 479,750$ Utiities and Property Ins. 93,500$ 93,500$ 89,500$ 93,500$

Totals - Transportation Fund 2,843,234$ 2,920,794$ 2,831,214$ 2,882,015$

Debt Service Funds (Combined)Debt Service 18,470,913$ 19,182,504$ 18,010,154$ 18,826,709$

Totals - Debt Service Funds 18,470,913$ 19,182,504$ 18,010,154$ 18,826,709$

Bus Replacement FundBus Replacement 494,886$ 305,602$ 282,099$ 400,244$

Totals - Bus Replacement Fund 494,886$ 305,602$ 282,099$ 400,244$

Zionsville Community SchoolsTax-Supported Funds

Projected Expendituresfor 2013 Budget Year and the Periods Shown




Zionsville Community SchoolsTax-Supported Funds

Projected Expendituresfor 2013 Budget Year and the Periods Shown

Referendum FundPersonnel Costs

Teacher Salaries 3,212,751$ 3,212,751$ 1,606,376$ 3,212,751$ Teacher Benefits 1,553,236$ 1,553,236$ 776,618$ 1,553,236$

Totals - Referendum Fund 4,765,987$ 4,765,987$ 2,382,994$ 4,765,987$

Rainy Day FundPersonnel Costs

Teacher Salaries 750,000$ -$ 946,140$ 375,000$ Teacher Benefits 350,000$ -$ 377,079$ 175,000$

Totals - Rainy Day Fund 1,100,000$ -$ 1,323,219$ 550,000$

Totals - Combined Expenditures 31,957,612$ 31,322,922$ 28,803,769$ 31,640,269$



Year Year Year Year2013 2014 2012-2013 2013-2014

Revenues:

General Fund 34,698,698$ 35,518,888$ 34,554,052$ 35,108,793$ Debt Service Funds (Combined) 18,373,886$ 19,192,601$ 19,278,731$ 18,783,244$ Capital Projects 3,714,447$ 3,807,308$ 3,654,761$ 3,760,878$ Transportation 2,857,430$ 2,928,866$ 2,911,998$ 2,893,149$ Bus Replacement 540,506$ 364,735$ 455,425$ 452,621$ Referendum Fund 4,974,981$ 4,981,015$ 2,487,491$ 4,977,999$ Rainy Day Fund 10,000$ 10,000$ 11,064$ 10,000$

Total Revenues 65,169,948$ 66,803,413$ 63,353,522$ 65,986,684$

Expenditures

General Fund 34,614,990$ 35,384,378$ 35,301,184$ 34,910,878$ Debt Service Funds (Combined) 18,470,913$ 19,182,504$ 18,010,154$ 18,826,709$ Capital Projects 4,282,592$ 4,148,035$ 3,974,089$ 4,215,314$ Transportation 2,843,234$ 2,920,794$ 2,831,214$ 2,882,015$ Bus Replacement 494,886$ 305,602$ 282,099$ 400,244$ Referendum Fund 4,765,987$ 4,765,987$ 2,382,994$ 4,765,987$ Rainy Day Fund 1,100,000$ -$ 1,323,219$ 550,000$

Total Expenditures 66,572,602$ 66,707,300$ 64,104,953$ 66,551,147$

Net Combined Fund Surplus (Deficit) (1,402,654)$ 96,113$ (751,431)$ (564,463)$

Cash Balance Usage (Causes of Deficit) for 2013Expenditure of Rainy Day Fund to bridge to Referendum Funding

(Per Plan approved May, 2012) 1,100,000$ Expenditure of CPF Funds (from Fund Balance) to address

Capital Maintenance Needs 568,145$

TOTAL Cash Balance Usage in 2013 1,668,145$

ZIONSVILLE COMMUNITY SCHOOLSPROJECTED BUDGET RESULTS

INCOME STATEMENT FORMATFOR 2013 BUDGET YEAR AND THE PERIODS SHOWN


Projected Projected Projected Projected Projected Projected Projected Cash Balance 2013 2013 Cash Balance 2014 2014 Cash Balance

Fund 1/1/2013 Receipts Disbursements 12/31/2013 Receipts Disbursements 12/31/2014

General Fund 1,253,859.00$ 34,698,698.00$ 34,614,990.00$ 1,337,567.00$ 35,518,888.08$ 35,384,378.33$ 1,472,076.74$ Debt Service Funds (Combined) 10,039,814.00$ 18,373,886.00$ 18,470,913.00$ 9,942,787.00$ 19,192,601.00$ 19,182,504.00$ 9,952,884.00$ Capital Projects 2,536,617.00$ 3,714,447.00$ 4,282,592.00$ 1,968,472.00$ 3,807,308.00$ 4,148,035.00$ 1,627,745.00$ Transportation 2,166,866.00$ 2,857,430.00$ 2,843,234.00$ 2,181,062.00$ 2,928,866.00$ 2,920,794.00$ 2,189,134.00$ Bus Replacement 452,917.00$ 540,505.60$ 494,886.00$ 498,536.60$ 364,735.00$ 305,602.00$ 557,669.60$ Referendum Fund -$ 4,974,981.00$ 4,765,987.00$ 208,994.00$ 4,981,015.00$ 4,765,987.00$ 424,022.00$ Rainy Day Fund 1,742,358.00$ 10,000.00$ 1,100,000.00$ 652,358.00$ 10,000.00$ -$ 662,358.00$

Combined Totals 18,192,431.00$ 65,169,947.60$ 66,572,602.00$ 16,789,776.60$ 66,803,413.08$ 66,707,300.33$ 16,885,889.34$

ZIONSVILLE COMMUNITY SCHOOLSPROJECTED BUDGET RESULTS

FOR 2013 BUDGET YEAR AND THE PERIODS SHOWNCASH RECEIPTS, DISBURSEMENTS, AND BALANCES FORMAT


Section 7

Zionsville Community Schools2013 Annual Budget

Summary and Recap of the Five Questions

Throughout this book, we have attempted to present clear, concise information to allowthe lay reader to determine for himself or herself the answers to the most basicquestions that every person who reads any budget needs to know. Specifically, the fivebasic questions of public budgeting:

1. How much will we spend and what will we spend it on?2. How much revenue will we receive and from what sources?3. Will our budget be balanced?4. What does all this mean to the taxpayer?5. What is our long-term outlook?

The elements of these questions are addressed throughout this book. However, toensure that the answers are easily accessible, we offer the following summary for each:

1. How much will we spend and what will we spend it on?We project that in 2013 we will spend a total of just over $66.5 million. Generally,58% of this amount will go for personnel salaries and benefits, 28% will be spentfor debt service, 3% will be spent on utilities and property insurance, and theremaining 11% or so will be spread over a number of other categories. Details ofour expenditures may be found in Section 5 of this book.

2. How much revenue will we receive and from what sources?Estimated revenues for 2013 are $65.1 million. State funding for the GeneralFund will provide $33.4 million of this total. We expect to receive another $24.0million in regular property taxes, plus an estimated $4.7 million from the recentlypassed Operating Referendum. Excise taxes, user fees, rental of facilities,interest earnings, and other minor revenue sources will make up the rest of therevenues to be received. Details of our revenues may be found in Section 4 ofthis book.

3. Will our budget be balanced?Our General Fund budget will not be balanced for the first half of 2013 primarilydue to the plan we have adopted to hire additional instructional staff and reduceclass sizes for the 2012-2013 school year. Due to the timing of the cash flowsinvolved in receiving the Referendum funding it will be necessary to expendapproximately $1.1 million from the Rainy Day Fund in the first six months of


2013. However, from that point forward and for the entire 2014 calendar year weproject that our budget will be balanced. The Capital Projects Fund will expendapproximately $500,000 more than its revenues for 2013 in a planned move toaddress several building repairs that likely would become critical if leftuncorrected. This additional expenditure for building maintenance is projected toleave an adequate fund balance in CPF at year-end. All other funds are expectedto have balanced budgets for both 2013 and 2014. See Section 6 in this book fordetails on the projected deficits we face.

4. What does all this mean to the taxpayer?We expect that the typical homeowner will continue to be covered by the 1%property tax cap and will see no increase in his or her total property tax bill for2013. The actual property tax rate for the school corporation is likely to increase.Last year we predicted that the tax rate could increase to a maximum of $1.35per hundred. The actual rate came in at $1.3410. For 2013, we are predicting amaximum rate of $1.42, not including the 24.44 cent Operating Referendumwhich was voted on separately by the voters of the school district on last May’selection ballot. We hope that the final rate will be less than our predictedmaximum, but this will be dependent in large part on the final assessed valuefigure for 2012 (properly the 2012-pay-2013 assessed value) which is not yetknown. The actual rate for 2013 will be announced by the Indiana Department ofLocal Government Finance on or before February 15, 2013 as required by statestatute.

5. What is our long-term outlook?Our long-term outlook is fair. As shown in Section 6 of this book, we expect tosee our budget balanced with the help of the operating Referendum for 2013 and2014. The Referendum is actually a three-year Referendum which will also cover2015. While we have not yet attempted to make detailed projections for 2015, weexpect that the results will be very similar to our projections for 2014. We alsonote that the Indiana state legislature will re-write the funding formula in 2013and again in 2015. We hope that economic conditions will improve over the nextseveral years and allow us to realize additional state funding from these formularevisions. Please see the Special Focus article (Section 2 of this book) for detailsabout the formula and our hopes and efforts to see ZCS get “a better deal” instate funding. We also note that in 2014 we should be eligible to refinance ourPension Bonds and obtain a savings from a lower interest rate. We also expectthat to happen in a much more significant way in 2015 when our 2005 bondsbecome callable. Over all, we believe that we must be cautious about our future,but even a guarded outlook is an improvement over our situation of the lastseveral years during the depths of the economic recession. A number of potentialmacro-economic events on the national and world stage may yet play out to havea material effect on our financial situation, but those are beyond the scope of thisbudget book for our local school corporation.



Thank you for your interest in our 2013 budget!

If you have any questions about this book or any related budget topic or issue, wewelcome you to call us at 733-4848 or email: [email protected]. Your feedback

about this book, and any suggestions for improving it or making it more useful andrelevant would be greatly appreciated.


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