~ew llupe-Sulebur"Y Schuul ()istrictFIliAL BUDGE,.

July 1, 2011 through June 30, 2012JUNE 6,2011

A." 180 West Bridge StreetNew Hope, PA 18938

photograph by Robert Heath, Jr.

New Hope - Solebury School DistrictUpper Elementary, Middle and High Schools

Located in Bucks County, Southeastern Pennsylvania

TABLE OF CONTENTSIntroduction

NarrativeSummary of Budget ProposalComparison to Current YearUse of Fund BalanceBudget and Tax Resolutions

1789

10

Revenue

Narrative 18Revenue Summary 23Revenue Graph 25Summary of Taxable Assessments 26Summary of Taxable Parcels by Municipality 27Summary of Assessments by Municipality 28Top Ten Assessments 29

Expenditures

Narrative 30Summary of Objects and Functions 33Comparison of Objects 34Summary of Functions 36Detailed Summary of Expenditure Budgets 38

Bond Issues and Debt Service

Narrative 40Projected Debt Service Payments 43Summary of Future Debt Service Payments 44Detail of Debt Service Payments per Issue 45Moody's Rating 46

Supplementary Schedules

NarrativeEnrollment ProjectionsBudget HistoryTax Rate and Average Tax Bill HistoryGross Cost per ChildInstructional Cost per ChildSpecial Education Cost & SubsidyPrivate School Transportation & SubsidyComparisons to Other School DistrictsState Budget Form - PDE 2028

47505152535455565759

NEW HOPE-SOLEBURY SCHOOL DISTRICT

FINAL BUDGET

Budget for July 1, 2011 through June 30, 2012

June 6, 2011

School Directors and Public:

The New Hope-Solebury School District final budget is attached. TheSuperintendent and Business Administrator assume responsibility for the accuracy of thenumbers and estimates contained herein. This document contains a summary of thefinancial plan for the school district for the 201112012 fiscal year. The proposed finalbudget was acted upon by the School Board at its regularly scheduled meeting on May 2,2011. The board heard comments on the budget at its regularly scheduled meeting onMay 16, 2011. The vote on the final budget will take place at the regularly scheduledboard meeting on June 6, 2011.

Introduction

The leadership team of the New Hope-Solebury School District began work onthe budget, in conjunction with their staff in August, 2010. The goal of the budget is toprovide the best educational program for the students while balancing the needs of thetaxpayers for minimal tax increases. Among the challenges in initially preparing thebudget were two unsettled employee contracts and a volatile revenue situation. OnJanuary 19,2011 the Board of School Directors approved a contract with the NHSEA.These costs are included in this budget.

Overall Budget Summary

The total expenditure budget is $33,397,681 and the total revenue budget, beforethe tax increase, is $33,048,355, including the use of$I,200,000 from the fund balance.The amount of additional taxes needed to balance the budget is $349,326, or 1.15 mills.This would increase the average tax bill from $4,669 to $4,734, or $65 per taxpayer basedon an average assessment of$56,829. This is an increase of 1.39%. Major changes sincethe preliminary proposed budget have been the costs of the NHSEA contract and areduction in revenue due to the Governor's budget which reduces subsidies to localschool districts. The subsidy that most affects our school district is the reduction in thetotal reimbursed for FICA expense. These were offset by savings from retirements and inreducing tuition expenses to other organizations as well as a bond refinancing. TheFinance Committee of the school district recommended using any savings from the bondissue refinancing and staff reductions in the following order:

1) Adjust revenue line items to reflect lower revenue trends2) Reduce the use of the fund balance

1

3) Set aside money for capital needs

The money from the savings was used first to adjust revenue from Earned IncomeTax and Interest Earnings downward to reflect the revenue coming in and the lowerinterest rates that show no sign of increasing within the budget year. It was next used toreduce the use of the fund balance by $50,000. Lastly, it was used to reduce the taxincrease from 1.9% to 1.39%.

Following the recommendation of the committee, administration will prioritize anysavings found within the budget during the year to be set aside for capital repairs andprojects.

Budgets Under Act 1 of2006

This budget has been prepared under the constraints of Act 1 of 2006. Under Act1 the state sets an index each September for the following budget year. The index is thepercentage that a school district is allowed to raise its tax rate. A school district isallowed to exceed the index under two scenarios:

1) Apply for exceptions2) Put the tax increase to a referendum vote

The index for the 2011/2012 budget year was set at 1.4%. The preliminary budgetapproved in February, 2011 required a tax increase that exceeded the index, so the schooldistrict applied for exceptions. The exceptions for which the school district was able toapply for are as follows:

1) Special education costs (based on actual costs for 08/09 and 09/1 0)2) Retirement rate increases. This is based on the rate increase from 10/11 to 11/12,

which went from 5.64% to 8.65%. Because the school district receives 50% of thecost in revenue it is allowed to apply for 50% of the difference in cost.

3) Maintenance of select revenue sources and maintenance of local revenues perstudent.

The school district applied for all exceptions but was only approved for specialeducation and retirement. The school district was approved for exceptions that wouldhave allowed it to increase taxes by an additional $458,843 or about 3.3%. This approvalallows the school district to levy taxes up the amount of the preliminary proposed budgetor 2.9% without a referendum. This amount was $375,512. Because the final budget isbelow the index the school district will not need to use any of the exceptions.

2

Under the previous four years under the index the district has exceeded the indextwice, was slightly under the index once, and met the index once as follows:

Index Budget

2007/2008 3.4% 5.13%2008/2009 4.4% 6.79%2009/2010 4.1% 4.09%201012011 2.9% 2.90%2011/2012 1.4% 1.39%

Narrative Summary

Expenditure Budget Summary

Expenditures increased by $746,815, or 2.29% from the current 201012011 budgetof$32,650,866. Following are some of the highlights of the expenditure budget.

1) The PSERS retirement employer rate has risen from 5.64% to 8.65%2) The NHSEA contract was settled and those costs are included in the budget. The

cost of salary increases was partially offset with savings in medical insuranceexpenses.

3) There is an increase in debt service to replace savings from prior years ofrefinancing bonds to phase back in the level payments. This was partially offsetby refinancing the 2006 bond issue to save $173,000.

4) The budget contains no new programs or positions5) The budget contains the elimination of 2.5 teaching positions that were able to be

done through attrition and savings from retirements and resignations in three otherpositions.

6) No funds are set aside for capital needs or for the facilities master plan in thisdraft of the budget.

7) Special education costs have been reduced due to a review of out of districtplacements and the numbers of students being served. Funds were saved, in part,due to serving more students in school district programs instead of placing themoutside of the school district.

8) The "second look" rates from Independence Blue Cross received in May werelower than the "first look" rates from December so funds were saved.

9) Funds have been set aside in budgetary reserve pending the settlement of theLocal 180 contract which is the only one still open at this writing.

The leadership team met and reviewed the budgets that have been presented to the SchoolBoard. At those meetings the team cut or reduced the following items from the budget:

3

a) Musical instrumentsb) Computer and technology equipmentc) Operations suppliesd) Utility costs were reduced due to an on-going review of this area and planning

with consultantse) Scheduled painting projectsf) Scheduled grounds careg) Copy center costs and supplies

The budget being presented here reflects those reductions. In addition, subsequent tothese cuts more cuts were made in tuition costs. The school district also realized savingsthrough refinancing bonds. The copier center contract was extended for a savings ofabout $25,000 over two years. The school district continues to review its staffing needs.

Revenue Summary

The revenue budget, not including the proposed tax increase has decreased from$32,650,866 in the current budget, to $31,848,355, not including the proposed use offund balance. The total decrease is $802,511, or 2.44%.

Among the reasons for the decrease in revenue are:

a) Loss of ARRA stimulus funding that runs out at the end of 10111 for a total of$278,715

b) Continued record low interest rates that result in an estimated loss in revenue of$80,000

c) Lower tax assessments that result in net loss of$50,133. Based on January, 2011assessments a portion of the original estimated $200,000 loss in appeals wereoffset by an increase in assessments, mainly due to new construction in theborough.

d) Interim real estate taxes are trending downward.e) Earned income tax is trending slightly downwardf) State revenue is being projected to decrease due to the Governor's budget,

particularly in the areas of social security reimbursement, charter school subsidy,and the elimination of the Accountability Block Grant.

Real estate transfer taxes have leveled off and are budgeted at their current year levels.Facility rentals are up and additional revenue has been budgeted for that.

4

Fund Balance

The school district has a fund balance which is in two categories:

Committed: The district has set aside $1,200,000 to help offset future retirement rateincreases. This is not being used for this budget.

Uncommitted: This is the balance that the school district has to use for emergencies, tooffset revenue losses, and to help reduce the need for tax increases. A summary followsof the proposed use of the fund balance in the 201112012 budget.

Anticipated Balance: July 1, 2011Less: Use of Fund Balance to Lower Tax Increase

$3,870,000($1.200.000)

Anticipated Ending Balance: June 30, 2012 $2,670,000

Expenditure BudgetPercent of Expenditures

$33,397,6818.0%

Per the state code the school district must have a budgeted uncommitted fund balance thatdoes not exceed 8% of its expenses. It has been a goal and policy of the school district tostrive to maintain a fund balance of between 7% and 8%. The reasons for this are to allowfor shortfalls in revenue, and maintain a Moody's rating of Aal. In addition the schooldistrict needs the cash on hand for a large bond issue payment that comes due on August15 of each year before tax revenue is received. It is the plan of the school district to notuse fund balance in future budgets if revenue starts to recover.

Changes from the Proposed Final Budget

Following is a detailed review of the changes that were made to the preliminary budget toget to this budget:

Tax Increase Needed - 5/2/11 $476,509

Increases to Tax Increase

Decreased EIT RevenueDecreased Interest EarningsDecreased Gate ReceiptsDecreased Interim Real Estate TaxReduce Use of Fund Balance

180,00010,0003.50010,50050,000

Subtotal - Increases 254,000

5

Reductions to Tax Increase

Savings from RefinancingCommissions on TaxesElimination of Teaching PositionLower Medical Insurance RatesResignation of EmployeeLegal Fees for Negotiations

173,2352,505

78,67770,00036,76620,000

Subtotal - Decreases 381,183

Tax Increase Needed - 6/6/11 349,326

Budget Document

The information that follows in this budget document will be a more detaileddiscussion of budget areas and illustrative charts and graphs providing comparative andhistorical data.

6

6/2/2011 12:01

Expenditure Budget - 201112012 33,397,681

Expenditure Budget - 201012011 32,650,866

increase In Expenditures 746,815

Percentage Increase 2,29%

Less:Offset by increase in revenueChange in fund balance use

-802,5111,200,000

Amount of tax increase needed 349,326

Revenue per mil of taxes 305,000

Tax Increase needed

Old Tax Rate 82,1538

New Tax Rate 83,2991

Percent of Increase 1,39%

Average Tax Bill 4,734

Increase In Average Tax Bill

Tax Increase Allowed at Index 350,797

New Hope - Solebury School DistrictSummary of Budget Proposal

For the year 201112012

1,40%

Medical InsuranceSpecial EducationLocal RevlAIERetirementConstruction

Total Exceptions

Tax Increase Needed1,15

Amount of Exceptions Needed

Total Tax Increase Allowed

Millage Increase at Maximum Exceptions

Percent Increase at Maximum Exceptions

65

Amount above Index

-1,471

ooo

125,712o

125,712

349,326

-1,471

476,509

1,56

1,90%

7

6/2/

2011

Revenue&OtherResources

Local

State

Federal

Other

UseofFundBalance

TOTA

LS

Expenditures

SalariesandWages

Benefits&Taxes

ProfessionalServices

Maintenance

Contracted

Services

Consumables

Equipment

OtherExpenditures

PrincipalandTransfers

TOTA

LS

RE

VE

NU

ELE

SS

EX

PE

ND

ITU

RE

S

REVE

NU

EPE

RM

Ill

MIll

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NEW

TAX

RATE

PERC

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INC

REAS

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Differences

8:24AM

New

Hope-SoleburySchoolDistrict

ComparisontoCurrentYear

July1,2011

throughJune30,2012

2011

/201

2Bu

dget

2010

/201

1Bu

dget

Mill

age

Effe

ctM

illEq

u/va

lent

Perc

enta

ge

28,076,299

28,352,956

276,657

0.91

-0.98%

3,694,556

3,941,695

247,139

0.81

-6.27%

77,500

356,215

278,715

0.91

-78.24%

0-

0.00%

1,200,000

0(1,200,000)

(3.93)

0.00%

33,0

48,3

5532

,650

,866

(397,489)

(1.3

0)1.22%

15,735,785

14,795,420

940,365

3.08

6.36%

6,478,113

6,401,454

76,659

0.25

1.20%

2,035,062

1,876,700

158,362

0.52

8.44%

937,430

1,052,707

(115,277)

(0.38)

-10.95%

2,920,175

3,455,778

(535,603)

(1.76)

-15.50%

1,037,918

956,321

81,597

0.27

8.53%

225,203

96,953

128,250

0.42

132.28%

1,060,074

1,479,415

(419,341)

(1.37)

-28.35%

2,967,921

2,536,118

431,803

1.42

17.03%

33,397,681

32,6

50,8

66746,815

2.45

2.29%

(349,326)

--

1.15

305,

000

1.15

82.15

83.3

0

1.39%

Page16of229

Anticipated Balance: .Tuly1, 2011

Uses:

REDUCE FUND BALANCE TO 8%REDUCE BUDGET TO INDEX

BUDGETARY RESERVE

Subtotal - Uses

Anticipated Balance: .Tune 30, 2012

Anticipated Unreserved Undesignated .Tune 30, 2012

Expenditure Budget

Percentage of Fund Bal to Expenditures

Uses of Fund BalanceBudget Year: 2011/2012

3,870,000

1,200,000

1,200,000

2,670,000

2,670,000

33,397,681

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FINAL BUDGET ADOPTION RESOLUTION

By virtue of and pursuant to the authority granted in the Public School Code of 1949, as

amended and supplemented, the Board of School Directors of the New Hope-Solebury School

District hereby resolves as follows:

Section I. That the Final Budget of the New Hope-Solebury School District, Bucks

County, Pennsylvania, for the 201112012 fiscal year as was proposed at a meeting of the Board of

School Directors of said District, held the 2nd day of May, 2011, is hereby amended and finally

adopted as the Annual Budget of the New Hope-Solebury School District, Bucks County,

Pennsylvania, for the fiscal year beginning July 1, 2011 and the Board of School Directors hereby

authorizes the appropriation and expenditure of the funds as itemized in said Budget during the

fiscal year beginning July 1, 2011;

Section II. That the Board of School Directors of the New Hope-Solebury School

District hereby authorizes the appropriation and expenditure of the funds as itemized in said Budget

during the fiscal year beginning July 1,2011; and

Section III. That the necessary revenue for the Budget same shall be provided by a

school tax on real estate imposed pursuant to the Public School Code of 1949, as amended, at the

rate of 83.2991 mills or at the rate of $8.32991 on each $100.00 of assessed valuation of taxable

property and the following taxes enacted pursuant to the provisions of the Act of the General

Assembly No. 511 as approved December 31, 1965, Act and continuing in force and effect from

year to year without annual reenactment:

(a) A Real Estate Transfer Tax of one percent (1%);

(b) An Earned Income and Net Profits Tax of one percent (1%).

By virtue of the fact that the Borough Council of the Borough of New Hope and the Township

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Supervisors of Solebury Township have enacted real estate transfer taxes and earned income and

net profits taxes similar to the real estate transfer tax and earned income and net profits tax imposed

by the New Hope-Solebury School District, the New Hope-Solebury School District receives one-

half (1/2) of the Real Estate Transfer Tax and one half (112) of the Earned Income and Net Profits

Tax.

RESOLVED, ADOPTED and ENACTED this __ day of June, 2011.

NEW HOPE-SOLEBURY SCHOOL DISTRICT

BY:President

ATTEST:

Secretary

/1

REAL ESTATE TAX RESOLUTION

By virtue of and pursuant to the authority granted in the Public School Code of 1949, as

amended and supplemented, the Board of School Directors of the New Hope-Solebury School

District hereby resolves as follows:

Section I. That for the fiscal year beginning the first day of July, 2011, a tax of

83.2991 mills on each dollar of assessed valuation, being at the rate of $8.32991 on each one

hundred dollars ($100.00) of assessed valuation of taxable property, is hereby levied and assessed

on all real property subject to taxation for school purposes within the New Hope-Solebury School

District, Bucks County, Pennsylvania;

Section II. That the said tax so assessed shall be upon all the property upon

which the County of Bucks taxes are levied and assessed;

Section III. That such taxes, if paid within two (2) months of the tax notice shall

be entitled to a discount of two percent (2%) and such taxes, if not paid in full within four months

after the date of the tax notice, shall be subject to a penalty of ten percent (10%);

Section IV. That the discount set forth in section III of this resolution shall not

apply to owners of eligible homesteads and farmsteads who pay their taxes in installments; and

Section V. That this resolution shall become effective and the tax hereby

imposed is for the fiscal year beginning on the first day of July, 2011.

RESOLVED, ADOPTED and ENACTED this __ day June, 201 I.

NEW HOPE-SOLEBURY SCHOOL DISTRICT

BY:President

ATTEST:

Secretary

I).

2010 HOMESTEAD/FARMSTEAD EXCLUSION RESOLUTION

WHEREAS, the County Assessor has certified to the School District that there are 3,172

eligible homestead properties and 24 eligible farmstead properties, for a total of 3,196 eligible

properties in the School District for the 2011/2012 fiscal year and

WHEREAS, the Pennsylvania Department of Education has certified that the School

District's Total Property Tax Reduction Allocation for the 2011/2012 fiscal year is $804,822.08;

NOW, THEREFORE, by virtue of and pursuant to the authority granted in the Public

School Code of 1949, as amended and supplemented, and Special Session Act 1 of 2006, known

as the Taxpayer Relief Act, the Board of School Directors hereby resolves, adopts and enacts the

following homestead exclusion and farmstead exclusion for the 201112012 fiscal year:

Section I. All eligible homesteads and farmsteads shall receive an exclusion of

$2,986 from the assessed value of the homestead and/or farmstead. Based upon the millage rate

established for the 2011/2012 fiscal year, this exclusion corresponds to a tax reduction equal to

$249.98;

Section II. The Tax Collector shall itemize the exclusion on each eligible homestead

and eligible farmstead owner's annual property tax bill, showing (a) the assessed value, (b) the

original tax liability on the assessed value, (c) the amount of the homestead and/or farmstead

exclusion in assessed value, (d) the actual tax liability after the homestead and/or farmstead

exclusion and (e) the actual tax savings associated with the homestead and/or farmstead

exclusion.

Section III. The Tax Collector shall also have the following notice included with the

tax bills of all owners of eligible homestead and farmstead properties:

i3

NOTICE OF PROPERTY TAX RELIEF

Your enclosed tax bill includes a tax reduction for yourhomestead and/or farmstead property. As an eligible

homestead and/or farmstead property owner, you havereceived tax reliefthrough a homestead and/or farmstead

exclusion which has been provided under the PennsylvaniaTaxpayer Relief Act, a law passed by the Pennsylvania

General Assembly designed to reduce your property taxes.

Section IV. These provisions shall apply to the annual property tax bills issued in July

2011 and not to any interim real estate tax bill.

RESOLVED, ADOPTED and ENACTED this __ day of June, 2011.

NEW HOPE-SOLEBURY SCHOOL DISTRICT

BY:President

ATTEST:

Secretary

1+

INSTALLMENT PAYMENT OF REAL ESTATE TAX RESOLUTION

In accordance with and pursuant to the authority granted in the Public School Code of 1949,

as amended and supplemented, and Special Session Act 1 of 2006, known as the Taxpayer Relief

Act, the Board of School Directors hereby resolves, adopts and enacts the following resolution

allowing owners of eligible homesteads and farmsteads to pay their School District Real Estate

Taxes in installments for 201112012 fiscal year and thereafter:

Section I. Owners of eligible homesteads and farmsteads are entitled to pay their real estate

taxes in three (3) equal installments.

Section II. The first installment is due one (1) month from the date upon which the tax

notice is issued. The second installment payment is due on or before one (1) month after the first

installment payment is due and the third installment payment is due on or before two (2) months

after the second installment payment is due. Any installment not paid on or before its respective

due date shall be considered delinquent.

Section III. Payment of the first installment before it becomes delinquent shall be

conclusive evidence that a taxpayer intends to pay real estate taxes in installments. If the taxpayer

fails to indicate intent to pay by installment, then the taxes shall be due and payable in accordance

with the terms of the School District's tax levy resolution for the applicable fiscal year and the

terms of the Local Tax Collection Law.

Section IV. A penalty of ten percent (10%) of the amount of the first installment shall be

added to the first installment amount due if the first installment is not paid before it becomes

delinquent. A penalty of ten percent (10%) of the amount of the second installment shall be added

to the second installment amount due if the second installment is not paid before it becomes

delinquent. A penalty of ten percent (10%) of the amount of the third installment shall be added to

I~

the third installment amount due if the third installment is not paid before it becomes delinquent.

These penalties shall be added to the taxes assessed against such delinquent taxpayers by the

appropriate tax collector and collected by him or her.

Section V. If any installment remains unpaid as of December 31, then the property will

be returned to the County as delinquent and additional penalties and interest as established by

applicable law will apply.

Section VI. Any taxpayer delinquent by more than ten (10) days on two (2) installment

payments during any fiscal year shall be ineligible for the installment payment option in the

following fiscal year.

Section VII. The annual tax notice sent to homestead and farmstead owners shall contain

information regarding the payment of school real estate taxes in installments and the dates on which

such payments are due or delinquent.

Section VIII. The proper officers of the School District are hereby authorized, empowered

and directed to execute any and all papers and documents and to do or cause to be done any and all

acts and things necessary or proper for the execution or carrying out of this resolution and the

Secretary is hereby authorized and directed to deliver a certified copy of this resolution to each of

the tax collectors.

Section IX. This resolution shall become effective for the fiscal year beginning on the

first day of July, 2011 and shall remain in effect until rescinded, cancelled and annulled by the

Board of School Directors. All resolutions or parts thereof inconsistent herewith are hereby

rescinded, cancelled and annulled.

RESOLVED, ADOPTED and ENACTED this __ day June, 201l.

NEW HOPE-SOLEBURY SCHOOL DISTRICT

BY:President

ATTEST:

Secretary

[7

REVENUE REVIEW

Revenues have decreased from a budget of$32,650,866 for 2010/2011 to abudget of $32,055,932, not including the projected tax increase or fund balance. Theamount of decrease is $594,934, or 1.82% I will review each major revenue area.

Real Estate Taxes

Real estate taxes are the largest source of revenue for the school district. Thesetaxes are based on the tax rate multiplied by the assessments of taxable parcels. Totaltaxable assessments have dropped by $610,245 from June, 2010 to January, 2011 due toappeals of assessments from taxpayers. The decrease of $841 ,410 in Solebury Townshipwas offset by a net increase in New Hope Borough of $231,165 due mainly to newconstruction. The loss of $610,245 in assessments is equals revenue of $50, 134.

Total tax revenue is calculated as follows:

Total Assessments 305,251,300

Multiplied by Millage Rate .0832991

Taxes Billed 25,427,159

Less: Discounts (400,000)

Add: Penalties 40,000

Net Taxes Billed 25,067,159

Less: Estimated Liens (490,000)

Less: Act 153 Frozen Taxes (86,744)

Real Estate Tax Collections 24,491,880

Less: Estimated Gaming Funds (804,822)

Real Estate Tax Budget 23,687,058

The discounts are the 2% that is deducted from the tax bill if paid by August 31. Thepenalty is 10% that is charged for bills paid after October 31. Taxes not paid are lienedand turned over to the Bucks County Tax Claim Bureau, who is then responsible forcollecting them. Under Act 153 parcels that are approved by Solebury Township ashaving been preserved for open space have their tax rate frozen in the tax year followingthe approval. The amount of tax revenue estimated to be lost from this is $86,744. If theschool district receives gaming funds it distributes them to taxpayers by way of a credit to

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the tax bill. This is only for approved homesteads and farmsteads. Revenue for bothdelinquent taxes and gaming funds are discussed below as well.

Interim Real Estate Taxes

Interim real estate taxes are collected when the assessment on a property increasesduring the year. The increase in assessment is pro-rated for the portion ofthe year that isaffected by the increase. Common reasons for assessment increases are pools, additions,new buildings, and parcel splits. Refunds are issued from this account when theassessment decreases in the middle of the year, for items such as fire damage or removalof a building.

Revenue for interim real estate taxes has been dropping in the past few years fromabout $323,000 in 2004/2005 to $95,400 in 2009/2010. Current projections for201012011 show an estimate of $67,000. The budget for 201112012 for interim taxes is$79,500 based on these current trends.

Other Local Taxes

The school district receives two tax payments from the state for parcels that itcannot tax. These sources are the Public Utility Realty Tax which pays for parcels thatare considered tax exempt due to their being utilities. The amount for this is budgeted at$37,000, which is consistent with the amount that has been collected. The school districtalso receives an annual payment of $67 for state gamelands.

Earned Income Tax

The school district levies a tax of 1% on earned income on school districtresidents. Solebury Township and New Hope Borough share in this tax so the net rate tothe school district is Yz%. Earned income tax collections have been trending downward.The collections of$3,522,581 for 2009/2010 contained a one-time payment of about$500,000, so the collections net of that were about $3,000,000. The budget for 201012011is $3,200,000. For this 201112012 budget this amount has been reduced to $3,020,000.

Real Estate Transfer Tax

Real estate transfer tax is levied on properties at settlement based on one halfpercent of the sale price. Transfer taxes have been on a downward trend from $1,258,190in 2004/2005 to $483,183 in 2008/2009. The transfer taxes rebounded in 2009/2010 for atotal of$639,545. The budget for both 201012011 and 201112012 is $580,000

Delinquent Real Estate Tax

As discussed above real estate taxes are turned over the to the Bucks County TaxClaim bureau in January of each year for unpaid taxes levied the previous July. Oncethese taxes start being collected the receipts are booked into this budget category.

19

Because the amount of unpaid taxes at the end of the year have been increasing, so too,have the receipts for delinquent taxes as these are collected. The budget for 2010/2011 is$600,000 and 201112012 has been increased to $700,000 based on past and currenttrends. Also when properties that are under the Act 319 reduced assessment for openspace break the covenant and become developed the county collects back taxes and thoseare also charged to delinquent tax revenue. This is sporadic so $5,000 is budgeted in thisarea.

Earnings on Investments

Interest rates are at all time lows and expected to stay there for the foreseeablefuture based on information available at the time the budget was prepared. In 200612007the school district earned $587,699 in interest revenue. For 201112012 the earnings areexpected to be $30,000, and this may be high. This has been an area of revenue loss thathas to be made up in other areas of the budget.

Gate Receipts

Because of a change in accounting definitions the athletic fund was merged intothe general fund beginning with the 2010/2011 fiscal year. Part of the revenue stream forathletics had been the gate receipts for sporting events. The revenue for this has beenestimated to be $9,000.

IDEA Pass-Through Funds

The Bucks County Intermediate Unit receives funds for IDEA programs. Thismoney is forwarded to the school district for use in special education programs. There isa corresponding budget for expenditures, which can be changed as revenue changes. Ifthere is no revenue the funds are not spent. The estimate for IDEA funding, based on pastgrants is $250,000.

Rental of Facilities

The school district earns money by renting out its facilities and grounds to outsidegroups. This revenue stream has been increasing. The budget for this area is $25,000.

Tuition from Nonresident Students

Under board policy 202 under certain circumstances the district allows out ofresident students to attend our school district as long as they pay a tuition rate. Thisoccurs sporadically so the budget for this area is a nominal $500.

Basic Education Subsidy

Basic education subsidy is the largest amount of funds that the school districtreceives from the state. This amount is difficult to predict. In the past the school district

20

would receive a minimum increase of 2%. In the last two fiscal years the basic educationsubsidy was reduced and substituted, in part, with stimulus funding. For the 201112012fiscal year the stimulus funding has expired. The budget of $1,027,366 represents aslightly over 2% increase from the actual 2008/2009 revenue, which did not include thestimulus funding.

~harter School Funding

The school district receives a slight subsidy for the cost of charter schools. Theactual amount received in 2009/2010 was $24,995. The budget for 2010/2011 and201112012 is $15,000 based on uncertainty of this funding. Due to the Governor's budgetproposal this has been reduced to zero since this revenue source has been eliminated.

Special Education Subsidy

This is a subsidy that the school district receives from the state for specialeducation. This amount is budgeted at $580,782, which represents no increase from the201012011 budget.

Transportation Subsidy

The school district receives subsidy for the transportation of both public and non-public school students. This revenue stream has been level over the past several years andis estimated to be $161,000.

Rental and Sinking Fund Payments

When bonds are issued the state reimburses the school district for a portion of thecost. This is based on a formula that involves how much of the original project wasreimbursable and using the school district's wealth factor. Because the state hasdetermined that based on average income and real estate market value this school districtis wealthy the percentage used is the lowest, which is 10%. The estimated revenue fromreimbursement for bond issue payments is $100,000. This amount includes the district'sshare of reimbursement for the MBIT bond issues as well.

Homestead/Farmstead Exemptions

The school district receives a share of gaming revenues that are to be used toreduce property tax bills. This credit only goes to homesteads and farmsteads approvedby the Bucks County Board of Assessments. The amount budgeted is $804,822. This totalrevenue amount is divided by the number of qualifying parcels to determine the creditthat each tax bill gets.

21

For the 201112012 tax year the credit to the tax bills is calculated as follows:

Property Tax Reduction Funds $804,822

Divided by number of eligible parcels 3,220

Farmstead/Homestead Tax Credit $249.98

Nurse Services Subsidy

The school district receives a subsidy each year from the Department of Healthfor school nurse and doctor services. This subsidy has been consistent from year to year.The budget for this is $30,500.

PA Accountability Grant

For the past several years the school district has received an accountability grantfrom the state to be used for special projects. The budget of $37,650 is based on thereceipt for the prior year. There is a corresponding expenditure budget. This revenuesource is not guaranteed from year to year and there is a chance it could be rolled into thebasic education subsidy. If that is the case the money will not be spent. This has beeneliminated from the budget on both sides due to its elimination in the Governor's budget.

Social Security and Retirement Subsidy

The school district receives reimbursement from the state for 50% of the amountspent on social security and retirement for employees. The total amount budgeted is 50%of the budgeted expenditure or $1,218,077. A change in the formula proposed in theGovernor's budget results in a loss of $299,075 in revenue for social security.

Federal Grants

The budget for federal grants is $77,500. This is a reduction of$278,715 from2010/2011 due to the stimulus funds running out. The anticipated grants for which fundswill be received are Title I and Title II. Title I funds are used for reading and Title II isused for professional development.

22

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N "'"

New Hope - Solebury School DistrictRevenue Summary and Chart

Real Estate TaxInterim Real Estate TaxEarned Income TaxReal Estate Transfer TaxOther Local TaxesDelinqent Real Estate TaxInterest EarningsOther Local RevenueState SourcesFederal SourcesOther SourcesUse of Fund Balance

23,687,05879,500

3,020,000580,00037,067

705,00030,000

287,0003,694,556

77,500

70.92%0.24%9.04%1.74%0.11%2.11%0.09%0.86%

11.06%0.23%0.00%3.59%1,200,000

• Real Estate Tax

_Interim Real Estate Tax

DEamed Income Tax

OReal Estate Transfer Tax

Total 33,397,681 100.00%

===::..r_..;:o;:"f.;.:RevenueSources

Federal Sources0.2%

Use of Fund Balance3.6%

Interest Earnings0.1%

Other local Taxes0.1%

Real Estate Transfer Tax1.7%

_Olherlocal Taxes

• Delinqent Real Estate Tax

.Interest Earnings

eoee Local Revenue

_Stale Sources

.Federal Sources

o Other Sources

DUseof Fund Balance

2.5

19

86

/1

98

7

1987

1198

819

8811

989

1989

1199

019

9011

991

1991

1199

219

9211

993

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419

9411

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61

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6/

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8

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20

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880

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9,068,588

10,624,716

11,090,334

12,567,090

10,233,820

6,548,360

7,764,860

3,388,820

2,475,070

2,192,310

-2,188,190

-3,408,680

-1,1%

3.4%

8,7%

5,0%

3,3%

1.4%

0,2%

1,7%

2.7%

1.8%

2.0%

3.4%

1.8%

3.9%

4.4%

4.4%

4.8%

3.7%

2.3%

2.7%

1.1%

0.8%

0.7%

-0.7%

-1.1%

350,000,000

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Page78

of229

6/2/

2011

Par

cels

8:24

AM

SummaryofTaxableAssessm

ents

New

Hop

eSol

ebur

yTo

tal

Cha

nge

Per

cent

Janu

ary

2011

1,26

13,

994

5,25

520

0.38

%Ja

nuar

y20

091,

239

3,99

65,

235

100.

19%

Janu

ary

2008

1,22

83,

997

5,22

512

0.23

%Ju

ne20

071,

220

3,99

35,

213

20.

04%

Janu

ary

2007

1,21

83,

993

5,21

114

0.27

%Ju

ne20

061,

203

3,99

45,

197

120.

23%

Janu

ary

2006

1,20

13,

984

5,18

525

0.48

%Ju

ne20

051,

195

3,96

55,

160

70.

14%

Mar

ch20

051,

193

3,96

05,

153

00.

00%

Dec

embe

r20

041,

193

3,96

05,

153

741.

46%

Dec

embe

r20

031,

152

3,92

75,

079

20.

04%

June

2003

1,14

73,

930

5,07

710

0.20

%Ja

nuar

y20

031,

147

3,92

05,

067

380

8.11

%N

orth

Poi

nte

Janu

ary

2001

1.13

43,

553

4,68

714

23.

12%

Janu

ary

1999

1,12

93,

416

4,54

534

0.75

%Ju

ne19

981,

125

3,38

64,

511

311

7.40

%R

iver

woo

dsJu

ne19

9788

03,

320

4,20

010

12.

46%

Janu

ary

1996

880

3,21

94,

099

260.

64%

Janu

ary

1995

881

3,19

24,

073

260

6.82

%Ped

dler

'sVie

wJa

nuar

y19

9488

02,

933

3,81

334

0.90

%Ja

nuar

y19

9387

92,

900

3,77

925

0.67

%Ja

nuar

y19

9188

02,

874

3,75

488

2.40

%Ja

nuar

y19

9085

92,

807

3,66

689

2.49

%Ju

ne19

8977

82,

799

3,57

70

Tota

lC

hang

e1,

636

Per

cent

Cha

nge

45.7

4%

3ge

Ann

ual

Per

cent

Cha

nge

2.54

%

Ave

rage

Ann

ual

Cha

nge

91

'"Pag

e79

of22

9-..

J

Summary of Taxable AssessmentsPer RE1501 Report from Bucks County Board of Assessments

Date New Hope Solebury Total Change Percent

01/03/11 59,750,860 245,500,440 305,251,300 -1,220,490 -0.40%01/04/10 59,288,530 247,183,260 306,471,790 -2,188,190 -0.71%06/04/09 60,100,400 248,559,580 308,659,980 928,840 0.30%12/31/08 59,888,390 247,842,750 307,731,140 1,263,470 0.41%01/02/08 59,712,670 246,755,000 306,467,670 2,475,070 0.81%12/30106 59,448,430 244,544,170 303,992,600 3,388,820 1.13%12/31/05 59,267,050 241,336,730 300,603,780 7,764,860 2.65%12/31/04 56,929,000 235,909,920 292,838,920 9,572,500 3.38%12/31/03 53,334,520 229,931,900 283,266,420 6,848,320 2.48%06/16/03 52,925,120 223,492,980 276,418,100

28

6/2/2011 2011 2012 BudgetTop Ten Assmnts

OWNER

Solebury PartnershipBucks County Industrial Development AuthorityBucks County Housing DevelopmentUnion Square LTDNew Hope LimestoneIndividualHarlan-Andrew Property LLCFour Seasons MallIndividualIndividual

Total

Total Assessments

Percentage of Total

New Hope - Solebury School DistrictList of Top Ten Assessments in District

As of June 4,2009

PROPERIT

Shopping CenterShopping CenterRetirement Vii/ageShopping ComplexQuarryResidenceHotelShopping ComplexResidenceResidence

8:24AM

ASSESSMENT

1,336,6401,014,000923,400874,200763,600611,110560,000398,200395,250379,120

7,255,520

306,471,790

2.37%

29

EXPENDITURE REVIEW

Expenditures have increased from a budget of $32,650,866 in 2010/2011 to a totalof$33,397,681, in the proposed final 201112012 budget. This is an increase of$746,815or 2.29%. Following is an explanation of the major object areas of the budget:

100: Salaries and Wages

Salaries and wages include payments paid to full and part time staff, as well assubstitute teachers and extra-duty pays made through payroll.

There is an increase of 1.84% in salaries and wages. This contains the salariesincluded in the NHSEA and Act 93 agreements that were approved by the school board.

The support staff members were budgeted at their current pay rates until theiremployee contract is resolved. The contract for support staffruns out in June 30, 2011.An allowance for increases for those contracts has been placed in budgetary reservepending settlement of the support staff contract.

Administration has set a goal of reviewing positions when resignations orretirements occur to determine if any savings can be attained through attrition whilemaintaining the current program. As a result of this review 2.5 teaching positions wereremoved from the budget.

200: Employee Benefits

Employee benefits include costs for medical insurance, FICA (7.65%), retirement(8.65%) and workers' compensation. Not all employees get all benefits. Benefits aredefined by the applicable employee contract or stipulated when they are hired.

This category has decreased by 1.77%. This is because of lower medicalinsurance costs in the amount of $409,779 that resulted from a change in plans and higheremployee contributions due to the contracts that were approved. In addition the rateincrease was lower than originally estimated. This lower cost is netted against an increasein the retirement rate from 5.64% to 8.65% which results in an increase of $203,944.There is a net decrease in the costs of employee benefits of $116,696.

300: Contracted Professional Services

Contracted services cover all payments for professional services. Among theseservices are legal fees, audit fees, educational services, commissions on tax collections,maintenance agreements, consulting services, and other services for which the districtdoes not have the resources or expertise to do, or which can be done at a lower cost bybeing out -sourced.

30

Contracted services are budgeted at an increase of 15.2%. About half of thisamount is for special education services based on an expectation of additional studentsbeing served in this program. These are IU services such as speech therapy, vision, etc.There is also an increase in legal fees due an increase in the historical trend in this area.Funds have been budgeted for the negotiation of the support staff contract as well.

There is also an increase in the other contracted services areas. Most of this is forthe speech therapist for the autistic support program that had been previously paid fromARRA funding.

400: Property Services

Property services include repairs, utilities, trash removal, and ground care.

There is a decrease of 12.2% for property services. Most ofthis is due to lowerrates for electricity and natural gas that were obtained by working with an energyconsultant through the BCIU who has helped the school district lock in future rates thatare lower than budgeted.

There is an increase in the repair budget that is due to needed maintenance beingdone to the buildings. Those items include; replacing carpet in areas of the high school,painting walls and doors, replacing art room sink, installing box gutters on the roof of theold section of the high school, repairing the track surface and repainting lines, and pavingaround the track dedication area.

There is a slight increase in grounds maintenance to replace funds that were cutfrom last year's budget, in order to keep the playing fields in safe condition.

500: Purchased Service_s

Included in this category are contracted transportation, tuitions to other agencies,insurance payments (non-employee), communications, advertising, printing, staff travel,and other non-professional services.

There is slight decrease in purchased services of 4.87%. Most of the savings wasin the area of transportation where IU special education transportation has been reduceddue to fewer out-placed students who are riding the buses. The fuel budget has also beendecreased due to lower prices at the time the budget was prepared. Due to the recentupturn in prices this area will be monitored and will probably be increased for the finalbudget, The insurance quotes came in slightly lower than the previous year.

There is an increase in the tuition budget to allow for current and new studentsthat may need outside placements.

31

600: Consumables

Consumables include supplies, fuel (vehicles and buildings), books/periodicals,software, and food costs.

The budget for consumables has increased by 7.98%. The largest increase is in thearea of fuel oil where we expect to see price increases for next year. There is also anincrease in consumable supplies of9.97% that is spread throughout the budget and not inanyone particular area. The budget for administrative software was increased due to anexpected upgrade in the financial software package that will allow for more usability andflexibility, especially in the on-line employee access area. There is a decrease of 7.91% inbooks and periodicals.

700: Equipment

Equipment purchases are defined as any purchase costing over $250 and lastingmore than one year. Depreciable capital equipment is those items costing over $1,500.

The equipment budget shows an increase of99.21 %. For the 2010/2011 theequipment budget was substantially cut. The main items of equipment are technologyupgrades and replacements and a pick-up truck to replace the existing one which is a1995, and is reaching the end of its useful life.

800: Other Expenses

Other expenses include interest payments on debt, budgetary reserve, payment forprior year expenses, and scholarships.

This area is decreasing by $30,256. The largest area of increase, as discussedabove is for budgetary reserve to allow for the costs of employee contracts currentlybeing negotiated. This is offset by a decrease in interest due to refunding of bonds.

900: Principal Payments and Fund Transfers

The main item in this category is principal payments on debt reduction. Alsoincluded are budget transfers, the only one being an annual transfer to student activityaccounts.

Included in this area are the principal payments on existing bond issues. This areais increasing by 17% due the phase in of bond issue savings from a prior year. Whenbonds are re-financed the school district normally takes advantage of the savings in thefirst year of the new issue. The payments in subsequent years are then increased back totheir previous levels.

32

IN W

MajorObjects

100

200

300

400

500

600

700

800

900

Total MajorFunctions

1000

2000

3000

4000

5000

Total

Expenditure

Summary

Objects

andFunctions

2011

/201

2and

2010

/201

1Budgets

2010

/201

1Descriptions

2011

/201

220

10/2

011

Difference

Percentage

PercentofTotalBudget

SalariesandWages

15,735,785

15,451,416

284,369

1.84%

47.12%

Benefits

andPayrollTax

6,478,113

6,594,809

(116,696)

-1.77%

19.40%

Contracted

Services

2,035,062

1,766,519

268,543

15.20%

6.09%

Property

Services

937,430

1,067,707

(130,277)

-12.20%

2.81%

ProfessionalServices

2,920,175

3,069,720

(149,545)

-4.87%

8.74%

Consumables

1,037,918

961,198

76,720

7.98%

3.11%

Equipment

225,203

113,049

112,154

99.21%

0.67%

Interest

Payments

1,060,074

1,090,330

(30,256)

-2.77%

3.17%

PrincipalandTransfers

2,967,921

2,536,118

431,803

17.03%

8.89%

33.397,681

32,650,866

746,815

2.29%

100.00%

Instruction

Student

andStaffSupport

Co-Curricular

Capital

DebtService

andFundTransfers

17,525,343

11,247,658

655,872 o

3,968,808

17,176,010

11,273,677

635,581 o

3,565,598

349,333

-26,019

20,291o

403,210

2.03%

-0.23%

3.19%

0.00%

11.31%

52.47%

33.68%

1.96%

0.00%

11.88%

33,397,681

746,815

2.29%

100.00%

Graph

ofObjects

Graph

ofFunctions

ialnstruction

.aStudent

andStaffSupport

aSalaries

andWages

aBenefits

andPayrollTax

CContracted

Services

eProperty

Services

aProfessionalServices

aConsumables

aEquipment

CInterestPayments

aPrincipalandTransfers

DCo-Curricular

DCapital

aDebtService

andFund

Transfers

6/2/2011 Exp compare 8:24AM

New Hope - Solebury School DistrictComparison of Objects

2011/2012 2010/2011Objects Description Budget Current Budget Incr/(Decr) Percentage

110 Administrators 1,639,846 1,573,423 66,423 4.22%120 Teachers 11,014,149 10,818,533 195,616 1.81%122 Substitute Teachers 126,000 126,000 0 0.00%123 Teacher's Extra Days 98,479 81,100 17,379 21.43%126 Medical Insurance Waivers 50,000 70,000 -20,000 -28.57%130 TechnicallSAL. Positions 346,978 342,373 4,605 1.35%140 Maintenance 276,325 274,723 1,602 0.58%150 Clerical 744,074 737,270 6,804 0.92%180 Custodians 762,603 762,603 0 0.00%190 Teacher Assistants 677,331 665,391 11,940 1.79%

Subtotal- Salaries and Wages 15,735,785 15,451,416 284,369 1.84%

210 Medical Insurance 3,634,583 4,044,362 -409,779 -10.13%220 FICA/Medicare 1,203,788 1,131,855 71,933 6.36%230 Retirement 1,356,599 1,152,655 203,944 17.69%240 Tuition Reimbursement 71,250 71,250 0 0.00%250 Unemployment Compensation 15,000 7,500 7,500 100.00%260 Workers' Compensation 156,893 147,187 9,706 6.59%290 Other Benefits 40,000 40,000 0 0.00%

Subtotal- Taxes and Benefits 6,478,113 6,594,809 -116,696 -1.77%

320 Workshops, Conferences, Training 31,865 33,594 -1,729 -5.15%321 Drug Free Schools 0 0 0.00%322 IU Early Intervention 36,728 36,728 0 0.00%322 IU Special Education 949,628 758,001 191,627 25.28%330 Professional Services 309,678 286,500 23,178 8.09%340 Special Services 12,900 18,038 -5,138 -28.48%390 Contracted Services 694,263 633,658 60,605 9.56%

Subtotal - Professional Services 2,035,062 1,766,519 268,543 15.20%

410 Property Services 110,800 97,500 13,300 13.64%420 Utilities 548,400 837,812 -289,412 -34.54%430 Repairs and Maintenance 231,165 86,105 145,060 168.47%438 Repairs and Maint - Technology 10,425 10,150 275 2.71%440 Rentals 36,640 36,140 500 1.38%450 Construction 0 0 0.00%

Subtotal - Equipment Maintenance 937,430 1,067,707 -130,277 -12.20%

510 Contracted Carrier 1,560,091 1,736,491 -176,400 -10.16%520 Insurances 133,250 145,200 -11,950 -8.23%530 Communications 44,320 36,995 7,325 19.80%538 Telecommunications 110,726 126,662 -15,936 -12.58%540 AdvertiSing 10,500 8,300 2,200 26.51%550 Printing & Copying 27,000 28,825 -1,825 -6.33%560 Tuitions to Other Agencies 986,913 943,598 43,315 4.59%

34

6/212011 Exp compare 8:24AM

New Hope - Solebury School DistrictComparison of Objects

2011/2012 2010/2011Objects Description Budget Current Budget Incr/(Decr) Percentage

580 Staff Travel 34,375 30,649 3,726 12.16%594 Other Placements 2,000 2,000 0 0.00%595 IU Adminstrative Services 11,000 11,000 0 0.00%

Subtotal - Purchased Services 2,920,175 3,069,720 -149,545 -4.87%

610 Materials and Supplies 548,071 498,380 49,691 9.97%618 Administrative SoftwarelLicenses 121,658 115,909 5,749 4.96%620 Fuel 86,000 68,000 18,000 26.47%630 Food Supplies 4,500 3,200 1,300 40.63%648 Educational SoftwarelLicenses 110,939 94,645 16,294 17.22%640 Books and Periodicals 166,750 181,064 -14,314 -7.91%

Subtotal- Consumables 1,037,918 961,198 76,720 7.98%

710 Land Improvements 0 0 100.00%750 Equipment 129,038 57,312 71,726 125.15%758 Hardware & Longterm Software 96,165 55,737 40,428 72.53%

Subtotal - Equipment 225,203 113,049 112,154 99.21%

810 Dues and Fees 57,687 59,350 -1,663 -2.80%831 Interest 926,887 1,024,483 -97,596 -9.53%880 Prior Years' Payment 5,000 4,997 3 0.06%840 Budgetary Reserve 69,000 0 69,000 100.00%890 Awards to Students 1,500 1,500 0 0.00%

Subtotal 1,060,074 1,090,330 -30,256 -2.77%

911 Principal Payments 2,958,421 2,526,618 431,803 17.09%939 Fund Transfers 9,500 9,500 0 0.00%

Subtotal 2,967,921 2,536,118 431,803 17.03%

TOTAL 33,397,681 32,650,866 746,815 2.29%

35

200612007

200712008

200812009

200912010

201012011

201112012

FUNCTION

DESCRIPTION

Actual

Actual

Actual

Actual

Revised

Budget

Budget

DIFFEREN

CE

PERCEN

T1100

Instruction-R

egular

10,125,134

10,766,948

11,129,728

11,458,428

12,125,970

12,315,037

189,067

1.70%

1225

Englishas

aSecond

Language

231,854

241,340

235,310

248,759

265,746

131,071

·134,675

-57.23%

1241

Learning

Support

1,676,621

1,963,106

1,932,739

2,287,610

2,377,843

2,429,385

51,542

2.67%

1243

Gified

Support

289,199

294,338

293,956

288,097

314,502

335,962

21,460

7.30%

1280

EarlyIntervention

11,546

037,662

48,594

36,728

36,728

00.00%

1290

Other

SpecialE

ducation

1,505,585

1,201,988

1,606,893

1,474,523

1,250,001

1,483,328

233,327

14.52%

1341

Consumer

andHom

emaking

91,464

90,222

90,086

47,018

50,722

54,653

3,931

4.36%

1350

Industrial

Arts

274,997

285,124

218,193

280,700

301,664

300,198

-1,466

-0.67%

1360

BusinessEducation

80,434

86,361

79,402

95,931

108,002

117,512

9,510

11.98%

1390

VocationalTechnical

209,345

237,781

161,336

154,210

145,726

135,463

-10,263

-6.36%

1430

Hom

ebound

Instruction

21,201

9,844

1,098

4,083

7,256

7,256

0-0.02%

1441

CourtPlacedInstruction

468

18,263

10,989

2,565

8,100

25,000

16,900

153.79%

1442

AlternativeEducation

8,250

254,575

213,925

52,738

183,000

153,000

-30,000

-14.02%

1450

Tutoring

Program

690

00

00

00.00%

1490

FederalProgram

s69,936

74.978

899

00

00

0.00%

1700

Instruction-Com

munity

College

00

00

750

750

0#D

IV/Of

1000

TOTAL-INSTRUCTION

14,596,103

15,524,868

16,012,216

16,443,256

17,176,010

17,525,343

349,333

2.18%

2110

PupilServices

331,955

360,103

323,454

330,837

366,018

374,880

8,862

2.74%

2120

GuidanceServices

546,909

498,505

570,913

613,905

586,402

621,514

35,112

6.15%

2130

Attendance

191,435

114,163

120,732

117,881

120,724

111,348

-9,376

-7.77%

2140

Psychologists

250,033

263,078

280,554

290,284

304,828

331,453

26,625

9.49%

2160

Social

Services

89,736

99,071

213,412

184,563

195,648

214,472

18,824

8.82%

2220

TechnicalSupport

10,135

10,302

10,525

10,796

11,000

11,000

00.00%

2240

ComputerAssistedInstruction

597,585

659,405

600,917

566,958

573,539

640,926

67,387

11.21%

2250

LibraryServices

592,180

623,267

629,182

673,404

680,011

713,382

33,371

5.30%

2260

Curriculum

Development

293,236

313,783

303,417

325,619

310,137

310,225

880.03%

2271

ProfessionalD

evelopment-

CertifiedStaff

78,677

137,390

106,798

105,095

50,245

55,345

5,100

4.78%

2272

ProfessionalD

evelopment-N

onCertified

360

290

788

1,346

2,500

4,500

2,000

253.81%

2310

SchoolBoard

Services

96,442

82,719

70,206

72,918

102,825

111,675

8,850

12.61%

2320

SchoolBoard

Treasurer

8,922

9,140

9,354

9,576

10,171

10,387

216

2.31%

2330

CensusandTaxCollection

152,122

159,128

156,698

175,303

159,988

151,416

-8,572

-5.47%

2340

Human

ResourcesServices

114,750

140,024

146,004

187,548

190,199

161,670

-28,529

-19.54%

2350

LegalServices

58,670

78,355

115,984

114,009

85,000

120,000

35,000

30.18%

2360

Superintendent's

Office

269,269

298,897

308,764

336,102

342,737

368,695

25,.958

8.41%

2370

Public

Relations

12,864

4,905

4,476

6,011

10,700

9,000

-1,700

-37.98%

2380

BuildingPrincipals'Offices

938,170

1,002,970

1,023,225

1,055,178

1,136,531

1,186,561

50,030

4.89%

2400

SchoolNurses

257,928

268,052

287,574

297,361

327.078

322,224

-4,854

-1.69%

2500

BusinessOffice

60,580

49,695

65,716

72,849

92,025

74,503

-17,522

-26.66%

2511

BusinessAdministration

149,652

160,547

167,711

173,486

182,553

188,778

6,225

3.71%

2514

PayrollServices

72,740

74,060

81,359

82,371

88,160

89,791

1,631

2.00%

2515

Recordkeeping

Services

69,645

69,709

72,822

73,570

77,065

78,355

1,290

1.77%

2517

PropertyAccounting

03,250

2,500

2,500

2,700

2,700

00.00%

2520

PurchasingServices

65,595

69,049

71,430

72,856

76,173

78,455

2,282

3.20%

2540

CopyCenterOperations

166,227

182,440

190,544

153,182

143,495

157,745

14,250

7.48%

w Cl'\Page501229

2006

/200

720

07/2

008

2008

/200

920

09/2

010

2010

/201

1201112012

FUNCTION

DES

CRIPTION

Actua

lActua

lActua

lActua

lRevised

Bud

get

Bud

get

DIFFE

REN

CE

PERCEN

T2600

OperationsofPlant

2,396,971

2,556,097

2,575,448

2,509,855

2,984,286

2,824,519

-159,767

-6.20%

2650

OperationsofDistrictOwnedVehicles

6,420

7,784

11,777

11,756

13,000

46,450

33,450

284.03%

2700

Transportation:PublicSchool

1,195,802

1,251,417

1,258,989

1,144,756

1,308,941

1,134,941

·174,000

-13.82%

2750

Transportation-PrivateSchool

393,290

390,691

364,452

368,040

388,650

383,650

-5,000

-1.37%

2800

CentralServices

264,027

267,718

289,873

295,540

324,948

330,697

5,749

1.98%

2834

ProfessionalDevelopment-Admin&Support

11,227

14,753

35,750

8,464

14,400

15,400

1,000

2.80%

2900

OtherAdministrativeServices

9,874

10,044

9,749

10,544

11,000

11,000

00.00%

2000

TOTAL-SUPPORT

9,753,428

10,230,801

10,481,097

10,454,463

11,273,677

11,247,658

-26,019

-0.25%

3200

StudentActivities

206,182

214,720

144,697

140,553

149,584

139,387

-10,197

-Z05%

3250

Athletics

241,512

283,841

377,766

374,634

482,497

512,985

30,488

8.07%

3300

Community

Services

1,262

2,385

112,079

2,000

2,000

00.00%

3400

ScholarshipAwards

750

1,500

1,300

1,500

1,500

1,500

00.00%

3000

TOTAL-NONINSTRUCTIONAL

449,706

502,446

523,774

518,766

635,581

655,872

20,291

3.87%

4200

SiteImprovements

47,751

36,752

18,859

00

00

0.00%

4300

ArchitectServices-New

00

00

00

00.00%

4400

ArchitectServices-Renovation

011,576

00

00

0000%

4500

FacilitiesImprovem

ents

162,410

2,695

00

00

00.00%

4000

TOTAL-CAPITAL

COSTS

210,161

51,023

18,859

00

00

0.00%

5100

DebtService/PriorYearExpenses

3,560,948

3,439,145

4,049,211

3,091,484

3,556,098

3,890,308

334,210

8.25%

5220

TransfertoAthleticFund

65,000

55,000

55,000

50,000

00

00.00%

5240

TransfertoDebtService/CapitalResFund

2,530,000

0150,000

00

00

0.00%

5280

TransfertoStudentActivities

9,500

9,500

9,500

9,500

9,500

9,500

00.00%

5900

BudgetaryReserve

00

00

069,000

69,000

0.00%

5000

TOTAL-OTHER

COSTS

6,165,448

3,503,645

4,263,711

3,150,984

3,565,598

3,968,808

403,210

9.46%

TOTALEXPENDITURES

31,174,846

29,812,783

31,299,657

30,567,469

32,650,866

33,397,681

746,815

2.39%

ORIGINAL

BUDGET

31,465,327

30,477,302

32,282,792

31,851,531

32,650,866

33,397,681

746,815

2.45%

PERCENT

OFBUDGET

USED

99.08%

97.82%

96.95%

95.97%

100.00%

100.00%

W -.lP

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