School Finance Update Series VI -Revenue Mid Year Review

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School Finance UpdateSeries VI -Revenue Mid Year
Review
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199 General Operating Fund

• Revenue Source State Funds
• Projected 105,965,003
• Revised 106,922,550
• Variance__957,547

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199 General Operating Fund

• Revenue Source Federal Funds
• Projected 923,500
• Revised 710,129
• Variance -213,371

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199 General Operating Fund

• Revenue Source Local Funds
• Projected 24,652,225
• Revised 24,398,370
• Variance -253,855

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The Bottom Line

• Effect 490,321 NET Plus Projected shortfall in
  revenues
• Cause September 11th Tragedy, Weak economy-lower
  interest rates, lack of billings efforts from
  Special Ed and related departments
• Other sources make up for shortfall.

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Contingency Plan

• (1) Offset with other revenues
• (2) Freeze after May 1st on codes for 6200, 6300,
  6400 and 6600
• (3) Delay hiring of admin-personnel by 30 days
• (4) Monitor expenditures
• (5) Seek other funds via grants, etc.