Budget. The School District of Springfield, R E. St. Louis Street Springfield, MO 65802

2016-2017 Budget The School District of Springfield, R-12 1359 E. St. Louis Street Springfield, MO 65802 www.springfieldpublicschoolsmo.org 417-523-0000 Dr. John Jungmann, Superintendent Ms. Carol Embree, Chief Finance & Operations Officer Ms. Kim Mulvaney, Director of Finance Ms. Cara Stassel, Assistant Director of Financial Operations Mr. Wayland Mueller, Assistant Director of Financial Control

THE SCHOOL DISTRICT OF SPRINGFIELD R-12 EXECUTIVE SUMMARY BUDGET MESSAGE 2016-2017 FISCAL YEAR The budget information contained in this report is in compliance with the requirements of Board of Education policy DB Annual Budget. As noted in the policy, the planning and preparation of the budget is a continuing process. As stakeholders throughout the system continue to engage in the redesign of the strategic plan, the budget will continue to evolve and change in response to the mission critical focus areas and strategies. The annual budget must include the following statutory requirements: A budget message describing the important features of the budget and major changes from the preceding year. Estimated revenues to be received from all sources for the fiscal year, with a comparative statement of actual or estimated revenues for the two years immediately preceding, itemized by year, fund and source. Proposed expenditures for each department, office and other classification for the budget year, together with a comparative statement of actual or estimated expenditures for the two years immediately preceding, itemized by year, fund, activity and object. The amount required for the payment of interest, amortization and redemption charges on the debt of the school district. A general budget summary The development of the 2016-2017 budget for the School District of Springfield, R-12 has included a multitude of budget meetings conducted with individual leaders to ascertain the necessary levels of financial support and to identify areas for process improvement and operational efficiency. Changes occur frequently in this dynamic organization and the information represented is the most current information available at this time. Budget amendments will be made throughout the year to keep the Board of Education and public apprised of changes in our revenues, expenditures and operating fund balance. The following summary highlights the important features of the budget and major changes from the preceding year: Operating Budget A balanced budget is presented for the 2016-2017 fiscal year. The operating budget includes expenditures of $258,398,642 and revenue of $259,403,539. Operating expenditures include general fund and teacher fund obligations including salary and benefits, and purchased services and supplies. Revenue Budget- The total anticipated revenue for all funds is $318,870,504. This total includes $259,403,539 Operating (General and Teacher Funds combined), $20,918,965 Debt Service, $9,910,824 Capital, $27,976 Bond, $28,000,000 Health Benefit Trust, and $609,200 Greater Ozarks Center for Advanced Professional Studies (GO CAPS) Fiscal Agent. Local tax revenue provides for 47 percent of the operating revenue budget and is calculated using the assessed value of property and the district tax rate or levy. Proposition C Sales tax revenue is dependent on sales tax revenue generated throughout the state of Missouri and distributed by the prior year weighted average daily attendance per district. Local tax revenue is based on the assessed valuation of property within the District and the district tax levy. Assessed valuation data for the 2016 tax year will be provided in August. The operating levy for 2016 will be determined in August upon receipt of the certified assessed valuation data utilizing the Consumer Price Index of.7 percent. Currently, a 1.8 percent increase is included in the 2016-2017 operating budget, due primarily to the report from the Greene County Assessor that new construction is currently estimated at $52.8 million. The tax rate hearing will be held on August 23, 2016 and necessary changes will be applied to local revenue projections through a budget amendment. Page 1

THE SCHOOL DISTRICT OF SPRINGFIELD R-12 EXECUTIVE SUMMARY BUDGET MESSAGE 2016-2017 FISCAL YEAR Proposition C sales tax is estimated at $960 per Weighted Average Daily Attendance for the prior fiscal year. At this time, $23,531,180 is included in projections and represents 9.07 percent of the operating budget. The State Basic Formula and Classroom Trust Fund revenue allocation of $63,327,638 provides 24 percent of the operating revenue budget. With the addition an estimated $70 million in the statewide allocation, the State Adequacy Target (SAT) for Basic Formula and Classroom Trust Fund for students in 2016-2017 is anticipated to be $6,125 per weighted average daily attendance (WADA). Enrollment for projection purposes has remained flat. After the official enrollment count in September, a budget amendment will be provided to modify the original student membership revenue projections. The first calculation of the formula for 2016-2017 provided by the Department of Elementary and Secondary Education will be made in November after enrollment data is submitted state-wide. The SAT in the 2015-2016 fiscal year was reported at just over $6,145 per WADA. DESE provides reports each month reflecting changes to the SAT and budget amendments will be presented throughout the year in response to those changes. Other primary changes to revenues include an increase for M & M Surcharge Tax of $483,464, increases for Nutrition Services local and federal revenue totaling $1,906,448, and a reduction of the Federal FEMA reimbursement revenue in the amount of $3,330,556 that should be settled in FY16. Expenditure Budget- The total anticipated expenditures for all funds is estimated at $325,645,136. This total includes $258,398,642 Operating (General and Teacher Funds combined), $21,975,718 Debt Service, and $9,911,261 Non-Bond Capital, $6,796,541 Bond, $28,000,000 Health Benefit Trust, and $562,974 GOCAPS Fiscal Agent. Increases to the operating budget include an allocation for salary and benefits in the amount of $6,113,981 for all employees including estimates based on the negotiations with the five bargaining units. A few reallocations of full-time equivalency (FTE) positions and an expanded use of federal resources to support learning are included. Early Childhood program support is possible through the expansion of Title I funding and the addition of Parents as Teachers educators. Approximately $350,000 of increased federal resources will support the Title I needs. Specific information regarding collective bargaining recommendations for consideration by the Board of Education June 28, 2016 are as follows: 1. The economic negotiations between the School District of Springfield R-12 and the Springfield National Education Association (Teachers, Counselors, & Librarians) in their representation of the District s Teachers, Counselors, and Librarians began on March 28, 2016 and concluded on April 20, 2016 with the following amendments pending approval of the Board of Education: All eligible bargaining unit employees will receive one step on the Teachers Salary Schedule; The Salary Schedule Cost of Living increase is contingent on the State Adequacy Target (SAT) as of June 30, 2016, with a guarantee of 1.25%; if the June 30, 2016, SAT is at $6,125.00 but less than $6,140.00 the Cost of Living is 1.50%; or if the SAT is $6,140.00 or higher the Cost of Living adjustment will be 1.75%*; Lateral movement on the Salary Schedule for members with advanced degrees was agreed upon, which allows unit employee to move forward to the appropriate column of the salary schedule based on their level of education; and One step to the current stipend schedule. Page 2

THE SCHOOL DISTRICT OF SPRINGFIELD R-12 EXECUTIVE SUMMARY BUDGET MESSAGE 2016-2017 FISCAL YEAR 2. The economic negotiations between the School District of Springfield R-12 and the Springfield Educational Support Personnel (Maintenance, Custodial, & Supply) began on March 23, 2016, and concluded on April 13, 2016, with the following amendments pending approval of the Board of Education: All eligible bargaining unit employees will receive one step increase based on the Maintenance, Custodial & Supply Salary Schedule; The salary schedules will be increased for Cost of Living by 3% for all Job Codes at Step 8; 1.5% for Job Codes 25 through 28 at Step 7; and.5% salary increase to the 2 nd shift/night differential. 3. The economic negotiations between the School District of Springfield R-12 and the Springfield National Education Association (Clerical) began on April 14, 2016, and concluded on May 13, 2016, with the following amendments pending approval of the Board of Education: All eligible bargaining unit employees will receive one step increase on the Secretarial/Clerical Salary Schedule; The salary schedule will be increased for Cost of Living by 1.00% for Steps 1 through Step 9 and 2% for Step 10; and Agreed to a two-year agreement for non-economics. 4. The economic negotiations between the School District of Springfield R-12 and the Springfield National Education Association (School Nurses) began on March 24, 2016, and concluded on April 11, 2016, with the following amendments pending approval by the Board of Education: All eligible bargaining unit employees will receive one step on the Nursing Salary Schedule; The salary schedule will be increased for Cost of Living by 1.25%; and One additional workday added to the Nurses School Calendar for a total of 188 days; The expansion of Master s degrees that are paid on the MSN Salary Schedule will include Education, Nursing, Social Work and Guidance & Counseling. 5. The economic negotiations between the School District of Springfield R-12 and the Teamster Local 245 (Transportation) began on May 12, 2016, and concluded on May 27, 2016, with the following amendments pending approval by the Board of Education: All eligible bargaining unit employees will receive one step on the Transportation Salary Schedule; The salary schedule Cost of Living increase is contingent on the State Adequacy Target (SAT) as of June 30, 2016, with a guarantee of 1.25%; if the June 30, 2016, SAT is at $6,125.00 but less than $6,140.00 the Cost of Living is 1.50%; or if the SAT is $6,140.00 or higher the Cost of Living adjustment will be 1.75%*; and Trainee rate of pay will be $10.00 per hour. *The Department of Elementary and Secondary Education provided notification June 20, 2016 that the final State Adequacy Target in the 2015-2016 fiscal year is $6,145.826158666. Budgets for technology lease payments have been included. In 2016, a two year lease was obtained for technology funding that included a direct payment from operating funds for the first year. The September 2016 technology lease payment in the amount of $437,466 is included. Additionally, the April 2016 technology lease supporting year two IGNiTE for Chromebooks and ipads is included in the amount of $665,619. Other changes for expenditures from FY16 to FY17 include removal of budget allocations for the Debt Service Refunding. Page 3

GENERAL BUDGET SUMMARY ESTIMATED 2015-2016, PROJECTION 2016-2017 Proposed 2016-2017 General Funds 10, 50, 60 Teacher Fund 20 Debt Service Fund 30 Capital Projects Fund 40 Bond Funds 41-47 Total All Governmental Funds Health Benefit Trust Fund 72 Internal Service Greater Ozarks CAPS Fund 73 Fiduciary Total Estimated Beginning Fund Balance 42,978,177-20,035,210 13,200,312 6,768,565 82,982,264 5,161,292 144,756 88,288,311 Proposed Revenues by Fund 118,944,077 140,459,462 20,918,965 9,910,824 27,976 290,261,304 28,000,000 609,200 318,870,504 Proposed Expenditures by Fund 112,107,405 146,291,237 21,975,718 9,911,261 6,796,541 297,082,162 28,000,000 562,974 325,645,136 Proposed Transfers (5,831,775) 5,831,775 - - - Estimated Ending Fund Balance 43,983,074-18,978,457 13,199,875 (0) 76,161,406 5,161,292 190,982 81,513,679 Estimated Restricted Fund Balances - (0) - Operating Funds Fund Balance % 17.02% Operating Revenues 259,403,539 Operating Expenditures 258,398,642 Section 165.011, RSMo, provides for several interfund transfers that a school district may make. Estimated transfers for the new fiscal year include a transfer of funds required from the General Fund to the Teacher Fund to increase the balance to zero and a transfer from the General Fund to the Capital Fund for capital planning. Total All Governmental Funds Health Benefit Trust Fund 72 Internal Service Greater Ozarks CAPS Fund 73 Fiduciary Total Proposed 2015-2016 General Funds 10, 50, 60 Teacher Fund 20 Debt Service Fund 30 Capital Projects Fund 40 Bond Funds 41-47 Audited Beginning Fund Balance 39,610,585-109,511,825 5,515,529 34,554,393 189,192,332 3,255,487 (0) 192,447,818 *Revenue Estimates by Fund 114,986,337 132,695,838 20,494,894 10,163,599 3,375,332 281,716,000 27,330,109 350,000 309,396,109 *Expenditure Estimates by Fund 99,919,357 140,645,226 109,971,509 6,228,816 31,161,160 387,926,068 25,424,304 205,244 413,555,616 Proposed Transfers (11,699,388) 7,949,388-3,750,000 - - - - - Estimated Ending Fund Balance 42,978,177-20,035,210 13,200,312 6,768,565 82,982,264 5,161,292 144,756 88,288,311 Estimated Restricted Fund Balances 6,768,565 *Represents estimated actual for fiscal year, not revised budget Operating Funds Fund Balance % 17.87% Operating Revenues 247,682,175 Operating Expenditures 240,564,583 Page 4

THREE-YEAR COMPARISON OF REVENUE-ALL FUNDS 2014-2015 Actual* 2015-2016 Revised Budget 2016-2017 Budget Description General Teacher Debt Capital Total General Teacher Debt Capital Total General Teacher Debt Capital Total 5111 Current Taxes 63,829,378 50,407,312 16,356,639-130,593,329 64,613,122 52,866,192 18,359,794-135,839,108 64,613,122 52,866,192 18,359,794-135,839,108 5112 Delinquent Taxes 1,012,288 799,424 259,405-2,071,116 1,012,288 799,424 259,405-2,071,117 1,012,288 799,424 259,405-2,071,117 5113 School District Trust Prop C - 22,511,943 - - 22,511,943-23,139,192 - - 23,139,192-23,139,192 - - 23,139,192 5114 Financial Institution 246,521-35,297-281,819 204,521-30,297-234,818 204,521-30,297-234,818 5115 M&M Surtax - - - 8,666,243 8,666,243 - - - 8,716,536 8,716,536 - - - 8,716,536 8,716,536 5116 In Lieu of Tax 425,641-38,225-463,866 245,641-22,225-267,866 245,641-22,225-267,866 5131 Transportation Fees from Patrons 26,486 - - - 26,486 26,486 - - - 26,486 26,486 - - - 26,486 5140 Earnings on Investment 532,932 397,051 2,344,302 89,677 3,363,963 414,545 308,051 597,456 88,009 1,408,061 414,545 308,051 597,456 88,009 1,408,061 5150 Food Service Program 1,321,270 - - - 1,321,270 1,238,496 - - - 1,238,496 1,238,496 - - - 1,238,496 5165 Food Service Non-Program 2,029,913 - - - 2,029,913 2,017,800 - - - 2,017,800 2,017,800 - - - 2,017,800 5170 Student Activities 4,331,268 - - - 4,331,268 4,380,000 - - - 4,380,000 4,380,000 - - - 4,380,000 5180 Community Services - - - - - - - - - - - - - - - 5190 Other - From Local Sources 1,329,034 - - 1,480,024 2,809,058 1,600,062 - - 837,907 2,437,969 1,600,062 - - 837,907 2,437,969 5211 Fines, Escheats, Etc. - 396,898 - - 396,898-390,898 - - 390,898-390,898 - - 390,898 5221 State Assessed Utilities 824,642 651,236 314,785-1,790,664 824,642 651,236 314,785-1,790,663 824,642 651,236 314,785-1,790,663 5222 County Stock Insurance Fund 213,582 168,670 54,732-436,984 223,364 182,705 63,451-469,520 223,364 182,705 63,451-469,520 5311 Basic Formula - State 11,413,441 34,240,322 - - 45,653,762 11,920,297 35,760,892 - - 47,681,189 11,920,297 35,760,892 - - 47,681,189 5312 Transportation 1,997,385 - - - 1,997,385 1,770,563 - - - 1,770,563 1,770,563 - - - 1,770,563 5314 Early Childhood Special 2,996,856 2,279,299 - - 5,276,156 3,462,387 2,633,365 - - 6,095,752 3,462,387 2,633,365 - - 6,095,752 5319 Basic Formula - Classroom Trust - 8,965,133 - - 8,965,133-9,044,030 - - 9,044,030-9,044,030 - - 9,044,030 5324 Educational Screening 352,035 267,745 - - 619,779 280,010 211,154 - - 491,164 280,010 211,154 - - 491,164 5332 Career Education 28,664 - - - 28,664 54,385 - - - 54,385 54,385 - - - 54,385 5333 Food Service - State 81,126 - - - 81,126 81,126 - - - 81,126 81,126 - - - 81,126 5359 Career Education Enhancement 18,962 - - - 18,962 143,200 - - 8,774 151,974 143,200 - - 8,774 151,974 5369 Residential Placement/Excess Cost 230,804 - - - 230,804 206,297 - - - 206,297 206,297 - - - 206,297 5381 High Need Fund 730,029 - - - 730,029 783,872 - - - 783,872 783,872 - - - 783,872 5382 Missouri Preschool Project 92,000 - - - 92,000 80,000 - - - 80,000 80,000 - - - 80,000 5397 Other - State - - - - - - - - - - - - - - - 5412 Medicaid 462,385 - - - 462,385 395,488 - - - 395,488 395,488 - - - 395,488 5418 Reserve Officer Training Corps - 65,379 - - 65,379-65,379 - - 65,379-65,379 - - 65,379 5427 Perkins Basic Grant,Career Edu - - - - - - - - - - - - - - - 5437 IDEA Grants 23,304 - - - 23,304 21,357 - - 15,880 37,237 21,357 - - 15,880 37,237 5441 IDEA Part B Entitlement 4,360,938 - - - 4,360,938 5,418,157 - - - 5,418,157 5,418,157 - - - 5,418,157 5442 Early Childhood Special Educ 1,281,741 - - - 1,281,741 800,625 - - - 800,625 800,625 - - - 800,625 5445 School Lunch Program 5,675,509 - - - 5,675,509 5,675,509 - - - 5,675,509 5,675,509 - - - 5,675,509 5446 School Breakfast Program 2,747,564 - - - 2,747,564 2,747,564 - - - 2,747,564 2,747,564 - - - 2,747,564 5448 After School Snack Program 26,403 - - - 26,403 26,403 - - - 26,403 26,403 - - - 26,403 5449 Fresh Fruits and Vegetable Program 275,984 - - - 275,984 275,984 - - - 275,984 275,984 - - - 275,984 5451 Title I - ESEA 2,219,230 8,000,000 - - 10,219,230 2,746,247 5,600,000 - - 8,346,247 2,746,247 5,600,000 - - 8,346,247 5452 Title I - C Migrant 30,764 - - - 30,764 79,764 - - - 79,764 79,764 - - - 79,764 5459 21st Cemtury Community Learning 429,456 - - - 429,456 269,954 - - - 269,954 269,954 - - - 269,954 5462 Title III, ESEA English Lang Acquis 191,066 - - - 191,066 241,460 - - - 241,460 241,460 - - - 241,460 5465 Title II, Part A, ESEA - 1,256,898 - - 1,256,898-819,142 - - 819,142-819,142 - - 819,142 5472 Child Care Development Fund Grant 57,235 - - - 57,235 30,000 - - - 30,000 30,000 - - - 30,000 5477 Federal Emerg Mgt Agency Funds - - - 255,002 255,002 - - - 3,560,585 3,560,585 - - - 3,560,585 3,560,585 5481 Dept of Health Food Service 140,859 - - - 140,859 514,368 - - 113,781 628,149 514,368 - - 113,781 628,149 5497 Other - Federal 159,556-1,003,625 66,824 1,230,005 222,561-999,000 66,824 1,288,385 222,561-999,000 66,824 1,288,385 5611 Sale of Bonds - - - - - - - - - - - - - - - 5631 Net Insurance Recovery - - - 10,000 10,000 - - - - - - - - - - 5641 Sale of School Buses - - - 9,147 9,147 - - - 6,000 6,000 - - - 6,000 6,000 5651 Sale of Other Property 3,725 - - 4,267,427 4,271,151 2,000 - - 132,570 134,570 2,000 - - 132,570 134,570 5692 Refunding Bonds - - 21,905,000-21,905,000 - - - - - - - - - - 5810 Tuition From Other Districts - - - - - - - - - - - - - - - 5820 Area Voc Fees From Other LEAs - - - - - - - - - - - - - - - 5830 Contracted Educational Services 158,857 - - - 158,857 181,357 - - - 181,357 181,357 - - - 181,357 Subtotal 112,308,831 130,407,310 42,312,010 14,844,343 299,872,493 115,231,902 132,471,660 20,646,413 13,546,866 281,896,841 115,231,902 132,471,660 20,646,413 13,546,866 281,896,841 Recommended Changes FY17 Per Summary 3,712,175 7,987,802 272,552 (3,608,066) 8,364,463 Total Governmental Funds Revenue Budget 112,308,831 130,407,310 42,312,010 14,844,343 299,872,493 115,231,902 132,471,660 20,646,413 13,546,866 281,896,841 118,944,077 140,459,462 20,918,965 9,938,800 290,261,304 2014-2015 Actual* 2015-2016 Revised Budget 2016-2017 Budget Description Total Total Total Health Benefits Trust Internal Service Fund 28,819,772 28,000,000 28,000,000 MRI FY15/GOCAPS Fiduciary Fund 481,306 350,000 609,200 *Values presented are rounded Page 5

THREE-YEAR COMPARISON OF REVENUE-ALL FUNDS 2014-2015 Actual* 2015-2016 Revised Budget 2016-2017 Budget Revenue Object Code 5111 Current Taxes 130,593,329 135,839,108 135,839,108 5112 Delinquent Taxes 2,071,116 2,071,117 2,071,117 5113 School District Trust Prop C 22,511,943 23,139,192 23,139,192 5114 Financial Institution 281,819 234,818 234,818 5115 M&M Surtax 8,666,243 8,716,536 8,716,536 5116 In Lieu of Tax 463,866 267,866 267,866 5131 Transportation Fees from Patrons 26,486 26,486 26,486 5140 Earnings on Investment 3,363,963 1,408,061 1,408,061 5150 Food Service Program 1,321,270 1,238,496 1,238,496 5165 Food Service Non-Program 2,029,913 2,017,800 2,017,800 5170 Student Activities 4,331,268 4,380,000 4,380,000 5180 Community Services - - - 5190 Other - From Local Sources 2,809,058 2,437,969 2,437,969 5211 Fines, Escheats, Etc. 396,898 390,898 390,898 5221 State Assessed Utilities 1,790,664 1,790,663 1,790,663 5222 County Stock Insurance Fund 436,984 469,520 469,520 5311 Basic Formula - State 45,653,762 47,681,189 47,681,189 5312 Transportation 1,997,385 1,770,563 1,770,563 5314 Early Childhood Special 5,276,156 6,095,752 6,095,752 5319 Basic Formula - Classroom Trust 8,965,133 9,044,030 9,044,030 5324 Educational Screening 619,779 491,164 491,164 5332 Career Education 28,664 54,385 54,385 5333 Food Service - State 81,126 81,126 81,126 5359 Career Education Enhancement 18,962 151,974 151,974 5369 Residential Placement/Excess Cost 230,804 206,297 206,297 5381 High Need Fund 730,029 783,872 783,872 5382 Missouri Preschool Project 92,000 80,000 80,000 5397 Other - State - - - 5412 Medicaid 462,385 395,488 395,488 5418 Reserve Officer Training Corps 65,379 65,379 65,379 5427 Perkins Basic Grant,Career Edu - - - 5437 IDEA Grants 23,304 37,237 37,237 5441 IDEA Part B Entitlement 4,360,938 5,418,157 5,418,157 5442 Early Childhood Special Educ 1,281,741 800,625 800,625 5445 School Lunch Program 5,675,509 5,675,509 5,675,509 5446 School Breakfast Program 2,747,564 2,747,564 2,747,564 5448 After School Snack Program 26,403 26,403 26,403 5449 Fresh Fruits and Vegetable Program 275,984 275,984 275,984 5451 Title I - ESEA 10,219,230 8,346,247 8,346,247 5452 Title I - C Migrant 30,764 79,764 79,764 5459 21st Cemtury Community Learning 429,456 269,954 269,954 5462 Title III, ESEA English Lang Acquis 191,066 241,460 241,460 5465 Title II, Part A, ESEA 1,256,898 819,142 819,142 5472 Child Care Development Fund Grant 57,235 30,000 30,000 5477 Federal Emerg Mgt Agency Funds 255,002 3,560,585 3,560,585 5481 Dept of Health Food Service 140,859 628,149 628,149 5497 Other - Federal 1,230,005 1,288,385 1,288,385 5611 Sale of Bonds - - - 5631 Net Insurance Recovery 10,000 - - 5641 Sale of School Buses 9,147 6,000 6,000 5651 Sale of Other Property 4,271,151 134,570 134,570 5692 Refunding Bonds 21,905,000 - - 5810 Tuition From Other Districts - - - 5820 Area Voc Fees From Other LEAs - - - 5830 Contracted Educational Services 158,857 181,357 181,357 Recommended Changes FY17 Per Summary 8,364,463 Total Governmental Funds Revenue Budget 299,872,493 281,896,841 290,261,304 2014-2015 Actual* 2015-2016 Revised Budget 2016-2017 Budget Description Fund 72 Health Benefits Trust 28,819,772 28,000,000 28,000,000 Fund 73 MRI/FY16 and FY17 GO CAPS 481,306 350,000 609,200 *Values presented are rounded Page 6

THREE-YEAR COMPARISON OF EXPENDITURES-ALL FUNDS BY ACTIVITY (FUNCTION) 2014-2015 Actual* 2015-2016 Revised Budget 2016-2017 Budget Description General Teacher Debt Capital Total General Teacher Debt Capital Total General Teacher Debt Capital Total 1110 Elementary 4,455,712 37,817,790-10,414 42,283,916 4,972,648 39,566,710 - - 44,539,358 4,972,648 39,566,710 - - 44,539,358 1130 Middle/Junior High 1,980,285 18,955,978-73,217 21,009,480 1,335,230 19,452,476-25,000 20,812,706 1,335,230 19,452,476-25,000 20,812,706 1150 Senior High 3,306,817 23,687,053-37,687 27,031,558 2,829,806 24,491,749-158,022 27,479,577 2,829,806 24,491,749-158,022 27,479,577 1191 Summer School 71,033 76,525 - - 147,559 341,358 1,998,709 - - 2,340,067 341,358 1,998,709 - - 2,340,067 1192 Juvenile Program - - - - - - - - - - - 1210 Gifted 222,292 1,836,586 - - 2,058,877 217,082 1,871,363 - - 2,088,445 217,082 1,871,363 - - 2,088,445 1221 Special Education and Related Serv. 7,433,183 16,306,141-10,390 23,749,714 7,843,104 15,349,444-19,680 23,212,228 7,843,104 15,349,444-19,680 23,212,228 1224 Proportionate Share Services 5,489 120,608 - - 126,097 124,427 114,000 - - 238,427 124,427 114,000 - - 238,427 1250 Supplemental Instruction 995,429 4,785,835-2,746 5,784,010 513,979 2,920,738 - - 3,434,717 513,979 2,920,738 - - 3,434,717 1271 Bilingual 307,712 741,916 - - 1,049,628 330,736 923,186-1,000 1,254,922 330,736 923,186-1,000 1,254,922 1280 Early Childhood Special Ed 2,818,886 3,114,141 - - 5,933,028 2,841,918 3,231,052 - - 6,072,970 2,841,918 3,231,052 - - 6,072,970 1300 Career Education Programs 657,675 - - - 657,675 661,850 - - - 661,850 661,850 - - - 661,850 1400 Student Activities 5,073,372 1,847,284-16,613 6,937,269 5,956,575 2,273,842 - - 8,230,417 5,956,575 2,273,842 - - 8,230,417 1610 Adult Education and Literacy Programs - - - - - 20,807 - - - 20,807 20,807 - - - 20,807 1911 Tuition to Other Dist. In State - 789,158 - - 789,158-1,175,000 - - 1,175,000-1,175,000 - - 1,175,000 1931 Tuition Special Ed. In State - - - - - - - - - - - - - - - 1933 Tuition Special Ed. Private Agencies - - 25,000 - - 25,000-25,000 - - 25,000 1941 Contracted Education - 28,975 - - 28,975-30,000 - - 30,000-30,000 - - 30,000 2110 Attendance 1,462,909 60,437 - - 1,523,347 1,545,185 164,684-10,200 1,720,069 1,545,185 164,684-10,200 1,720,069 2120 Guidance 3,565,781 5,305,121-150,051 9,020,953 547,239 5,386,113 - - 5,933,352 547,239 5,386,113 - - 5,933,352 2130 Health, Psych, Speech 3,189,758 329,674-1,022 3,520,454 4,110,984 722,327-5,000 4,838,310 4,110,984 722,327-5,000 4,838,310 2210 Improvement of Instruction** 3,904,255 4,770,441-35,956 8,710,652 1,467,804 6,061,946-57,740 7,587,490 1,467,804 6,061,946-57,740 7,587,490 2214 Professional Development 206,488 283,371 - - 489,860 209,912 145,140 - - 355,052 209,912 145,140 - - 355,052 2220 Media Services (Library) 1,366,514 3,416,353-16,452 4,799,319 9,653,141 3,430,959-116,688 13,200,788 9,653,141 3,430,959-116,688 13,200,788 2310 Board of Education 574,747 - - - 574,747 509,043 - - - 509,043 509,043 - - - 509,043 2320 Executive Administration 1,332,292 1,393,905-19,919 2,746,116 956,051 1,384,568 - - 2,340,619 956,051 1,384,568 - - 2,340,619 2400 Building Level Administration 2,643,238 7,453,169 - - 10,096,407 2,833,293 8,482,102 - - 11,315,395 2,833,293 8,482,102 - - 11,315,395 2510 Business, Fiscal 2,771,818 - - 2,976 2,774,794 2,880,591 - - 9,000 2,889,591 2,880,591 - - 9,000 2,889,591 2540 Operation of Plant 22,429,514 - - 176,672 22,606,186 22,698,569 - - 220,500 22,919,069 22,698,569 - - 220,500 22,919,069 2546 Security Services 1,725,334 - - 26,190 1,751,524 1,907,875 - - 180,438 2,088,313 1,907,875 - - 180,438 2,088,313 2551 Pupil Transportation 211,325 - - - 211,325 226,083 - - 872 226,955 226,083 - - 872 226,955 2552 Pupil Transportation 3,676,646 114,211-1,068,920 4,859,777 3,767,409 - - 919,819 4,687,228 3,767,409 - - 919,819 4,687,228 2554 District Operated Trans K-12 2,974,984 147,830-22,771 3,145,585 3,011,180 - - 136,255 3,147,435 3,011,180 - - 136,255 3,147,435 2557 School Choice Transportation - - - - - 7,500 - - - 7,500 7,500 - - - 7,500 2558 Non-Allowable Transportation 8,138 - - 28,516 36,654 117,550 - - - 117,550 117,550 - - - 117,550 2559 Early Childhood Special Ed 967,540 - - - 967,540 992,720 - - - 992,720 992,720 - - - 992,720 2561 Food Services 12,139,794 - - 9,575 12,149,369 12,312,154 - - 191,118 12,503,272 12,312,154 - - 191,118 12,503,272 2600 Central Office Support 5,478,566 - - 111,568 5,590,134 3,865,258 806,767-11,495 4,683,520 3,865,258 806,767-11,495 4,683,520 3000 Community Services 1,951,919 309,948 - - 2,261,867 2,663,317 1,592,607 - - 4,255,924 2,663,317 1,592,607 - - 4,255,924 4000 Facilities Acquisition - - - 34,930,285 34,930,285 - - - 37,752,853 37,752,853 - - - 37,752,853 37,752,853 5100 Principal - - 33,885,000 282,608 34,167,608 - - 94,750,000 291,200 95,041,200 - - 94,750,000 291,200 95,041,200 5200 Interest - - 15,689,090 467,554 16,156,644 - - 15,214,110 431,174 15,645,284 - - 15,214,110 431,174 15,645,284 5300 Fees - - 159,073 7,840 166,913 - - 9,999 15,050 25,049 - - 9,999 15,050 25,049 Subtotal 99,909,445 133,692,451 49,733,162 37,509,942 320,845,001 104,272,378 141,600,482 109,974,109 40,553,104 396,400,072 104,272,378 141,600,482 109,974,109 40,553,104 396,400,072 Recommended Changes FY17 Per Summary 7,835,027 4,690,756 (87,998,391) (23,845,302) (99,317,910) Total Governmental Funds Expense Budget 99,909,445 133,692,451 49,733,162 37,509,942 320,845,001 104,272,378 141,600,482 109,974,109 40,553,104 396,400,072 112,107,405 146,291,238 21,975,718 16,707,802 297,082,162 2014-2015 Actual* 2015-2016 Revised Budget 2016-2017 Budget Description Total Total General Teacher Debt Capital Total Health Benefit Trust Internal Service Fund 26,970,226 28,000,000 28,000,000 MRI FY15/GOCAPS Fiduciary Fund 880,296 350,000 562,974 *Values presented are rounded Page 7

THREE-YEAR COMPARISON OF EXPENDITURES-ALL FUNDS BY ACTIVITY (FUNCTION) 2014-2015 Actual* 2015-2016 Revised Budget 2016-2017 Budget Object Code 1110 Elementary 42,283,916 44,539,358 44,539,358 1130 Middle/Junior High 21,009,480 20,812,706 20,812,706 1150 Senior High 27,031,558 27,479,577 27,479,577 1191 Summer School 147,559 2,340,067 2,340,067 1192 Juvenile Program - - - 1210 Gifted 2,058,877 2,088,445 2,088,445 1221 Special Education and Related Serv. 23,749,714 23,212,228 23,212,228 1224 Proportionate Share Services 126,097 238,427 238,427 1250 Supplemental Instruction 5,784,010 3,434,717 3,434,717 1271 Bilingual 1,049,628 1,254,922 1,254,922 1280 Early Childhood Special Ed 5,933,028 6,072,970 6,072,970 1300 Career Education Programs 657,675 661,850 661,850 1400 Student Activities 6,937,269 8,230,417 8,230,417 1610 Adult Education and Literacy Programs - 20,807 20,807 1911 Tuition to Other Dist. In State 789,158 1,175,000 1,175,000 1931 Tuition Special Ed. In State - - - 1933 Tuition Special Ed. Private Agencies - 25,000 25,000 1941 Contracted Education 28,975 30,000 30,000 2110 Attendance 1,523,347 1,720,069 1,720,069 2120 Guidance 9,020,953 5,933,352 5,933,352 2130 Health, Psych, Speech 3,520,454 4,838,310 4,838,310 2210 Improvement of Instruction** 8,710,652 7,587,490 7,587,490 2214 Professional Development 489,860 355,052 355,052 2220 Media Services (Library) 4,799,319 13,200,788 13,200,788 2310 Board of Education 574,747 509,043 509,043 2320 Executive Administration 2,746,116 2,340,619 2,340,619 2400 Building Level Administration 10,096,407 11,315,395 11,315,395 2510 Business, Fiscal 2,774,794 2,889,591 2,889,591 2540 Operation of Plant 22,606,186 22,919,069 22,919,069 2546 Security Services 1,751,524 2,088,313 2,088,313 2551 Pupil Transportation 211,325 226,955 226,955 2552 Pupil Transportation 4,859,777 4,687,228 4,687,228 2554 District Operated Trans K-12 3,145,585 3,147,435 3,147,435 2557 School Choice Transportation - 7,500 7,500 2558 Non-Allowable Transportation 36,654 117,550 117,550 2559 Early Childhood Special Ed 967,540 992,720 992,720 2561 Food Services 12,149,369 12,503,272 12,503,272 2600 Central Office Support 5,590,134 4,683,520 4,683,520 3000 Community Services 2,261,867 4,255,924 4,255,924 4000 Facilities Acquisition 34,930,285 37,752,853 37,752,853 5100 Principal 34,167,608 95,041,200 95,041,200 5200 Interest 16,156,644 15,645,284 15,645,284 5300 Fees 166,913 25,049 25,049 Recommended Changes FY17 Per Summary (99,317,910) Total Governmental Funds Expenditures 320,845,001 396,400,072 297,082,162 2014-2015 Actual* 2015-2016 Revised Budget 2016-2017 Budget Description Health Benefit Trust Internal Service Fund 26,970,226 28,000,000 28,000,000 MRI FY15/GOCAPS Fiduciary Fund 880,296 350,000 562,974 *Values presented are rounded Page 8

THREE-YEAR COMPARISON OF EXPENDITURES-ALL FUNDS BY OBJECT 2014-2015 Actual* 2015-2016 Revised Budget 2016-2017 Budget Description General Teacher Debt Capital Total General Teacher Debt Capital Total General Teacher Debt Capital Total 6100 Salaries 39,920,824 101,975,776 - - 141,896,600 40,695,301 108,029,159 - - 148,724,460 40,695,301 108,029,159 - - 148,724,460 6211 Teacher Retirement 372,936 16,150,814 - - 16,523,749 232,059 17,060,421 - - 17,292,480 232,059 17,060,421 - - 17,292,480 6221 Non-Teacher Retirement 2,901,064 33,841 - - 2,934,905 3,272,501 47,964 - - 3,320,465 3,272,501 47,964 - - 3,320,465 6231 Old Age Survivor and Disability 2,358,249 113,734 - - 2,471,983 2,548,563 101,330 - - 2,649,893 2,548,563 101,330 - - 2,649,893 6232 Medicare 553,795 1,391,254 - - 1,945,049 604,911 1,612,818 - - 2,217,729 604,911 1,612,818 - - 2,217,729 6240-6270 Employee Insurance 10,704,099 11,096,096 - - 21,800,195 8,157,304 11,236,633 - - 19,393,937 8,157,304 11,236,633 - - 19,393,937 6290 Other Benefits 19,200 - - - 19,200 19,200 - - - 19,200 19,200 - - - 19,200 6311 Tuition 667,385 818,132 - - 1,485,517 686,850 1,230,000 - - 1,916,850 686,850 1,230,000 - - 1,916,850 6312-6314 Professional Services 1,644,156 2,112,805 - - 3,756,960 1,646,177 2,282,157 - - 3,928,334 1,646,177 2,282,157 - - 3,928,334 6315 Audit Services 30,920 - - - 30,920 35,680 - - - 35,680 35,680 - - - 35,680 6316 & 6318-6319 Technical Services 1,428,882 - - - 1,428,882 2,898,676 - - - 2,898,676 2,898,676 - - - 2,898,676 6317 Legal Services 276,432 - - - 276,432 275,000 - - - 275,000 275,000 - - - 275,000 6330-6339 Property Services 3,089,073 - - - 3,089,073 3,953,657 - - - 3,953,657 3,953,657 - - - 3,953,657 6341 Contracted Trans To/From School 1,023 - - - 1,023 8,500 - - - 8,500 8,500 - - - 8,500 6342 Other Contracted Pupil Trans 194,324 - - - 194,324 174,751 - - - 174,751 174,751 - - - 174,751 6343-6349 Travel 1,306,112 - - - 1,306,112 2,384,476 - - - 2,384,476 2,384,476 - - - 2,384,476 6351 Property Insurance 1,238,147 - - - 1,238,147 640,000 - - - 640,000 640,000 - - - 640,000 6352 Liability Insurance - - - - - 432,000 - - - 432,000 432,000 - - - 432,000 6353 Fidelity Premium - - - - - 28,000 - - - 28,000 28,000 - - - 28,000 6359 Judgments Against LEA 124,185 - - - 124,185 - - - - - - - - - - 6360-6390 Other Purchased Services 8,645,694 - - - 8,645,694 8,765,434 - - - 8,765,434 8,765,434 - - - 8,765,434 6410 General Supplies 10,041,436 - - - 10,041,436 12,043,769 - - - 12,043,769 12,043,769 - - - 12,043,769 6430 Regular Textbook 2,679,357 - - - 2,679,357 3,239,568 - - - 3,239,568 3,239,568 - - - 3,239,568 6440 Library Books 264,965 - - - 264,965 344,368 - - - 344,368 344,368 - - - 344,368 6450 Periodicals 424,682 - - - 424,682 30,419 - - - 30,419 30,419 - - - 30,419 6460 Warehouse Adjustments 10,778 - - - 10,778 - - - - - - - - - - 6471 Food Service - Food Only 5,245,565 - - - 5,245,565 5,354,835 - - - 5,354,835 5,354,835 - - - 5,354,835 6480 Energy Supplies/Service 5,710,468 - - - 5,710,468 5,705,112 - - - 5,705,112 5,705,112 - - - 5,705,112 6490 Other Supplies 55,697 - - - 55,697 95,267 - - - 95,267 95,267 - - - 95,267 6510 Land - - - - - - - - - - - - - - - 6520 Buildings - - - 26,379,795 26,379,795 - - - 26,967,879 26,967,879 - - - 26,967,879 26,967,879 6530 Improvement to Sites - - - 37,396 37,396 - - - 276,363 276,363 - - - 276,363 276,363 6541 Equipment - General - - - 4,217,649 4,217,649 - - - 5,507,752 5,507,752 - - - 5,507,752 5,507,752 6542 Equipment - Instructional - - - 263,088 263,088 - - - 266,442 266,442 - - - 266,442 266,442 6551 Vehicles (Except School Buses) - - - 188,147 188,147 - - - 156,938 156,938 - - - 156,938 156,938 6552 School Buses - - - 1,030,175 1,030,175 - - - 996,998 996,998 - - - 996,998 996,998 6591 Other Capital Outlay - - - 4,635,691 4,635,691 - - - 5,643,308 5,643,308 - - - 5,643,308 5,643,308 6610 Principal - - 33,885,000 282,608 34,167,608 - - 94,750,000 291,200 95,041,200 - - 94,750,000 291,200 95,041,200 6620 Interest - - 15,689,090 467,554 16,156,644 - - 15,214,110 431,174 15,645,284 - - 15,214,110 431,174 15,645,284 6630 Other (Fin. Fees, etc.) - - 159,073 7,840 166,913 - - 9,999 15,050 25,049 - - 9,999 15,050 25,049 Subtotal 99,909,445 133,692,451 49,733,162 37,509,942 320,845,001 104,272,377 141,600,482 109,974,109 40,553,104 396,400,072 104,272,377 141,600,482 109,974,109 40,553,104 396,400,072 Recommended Changes FY17 Per Summary 7,835,027 4,690,756 (87,998,391) (23,845,302) (99,317,910) Total Governmental Funds Expense Budget 99,909,445 133,692,451 49,733,162 37,509,942 320,845,001 104,272,377 141,600,482 109,974,109 40,553,104 396,400,072 112,107,404 146,291,238 21,975,718 16,707,802 297,082,162 2014-2015 Actual* 2015-2016 Revised Budget 2016-2017 Budget Description General Teacher Debt Capital Total General Teacher Debt Capital Total General Teacher Debt Capital Total Health Benefit Trust Internal Service Fund 26,970,226 28,000,000 28,000,000 MRI FY15/GOCAPS Fiduciary Fund 880,296 350,000 562,974 *Values presented are rounded Page 9

THREE-YEAR COMPARISON OF EXPENDITURES-ALL FUNDS BY OBJECT 2014-2015 Actual* 2015-2016 Revised Budget 2016-2017 Budget Object Code 6100 Salaries 141,896,600 148,724,460 148,724,460 6211 Teacher Retirement 16,523,749 17,292,480 17,292,480 6221 Non-Teacher Retirement 2,934,905 3,320,465 3,320,465 6231 Old Age Survivor and Disability 2,471,983 2,649,893 2,649,893 6232 Medicare 1,945,049 2,217,729 2,217,729 6240-6270 Employee Insurance 21,800,195 19,393,937 19,393,937 6290 Other Benefits 19,200 19,200 19,200 6311 Tuition 1,485,517 1,916,850 1,916,850 6312-6314 Professional Services 3,756,960 3,928,334 3,928,334 6315 Audit Services 30,920 35,680 35,680 6316 & 6318-6319 Technical Services 1,428,882 2,898,676 2,898,676 6317 Legal Services 276,432 275,000 275,000 6330-6339 Property Services 3,089,073 3,953,657 3,953,657 6341 Contracted Trans To/From School 1,023 8,500 8,500 6342 Other Contracted Pupil Trans 194,324 174,751 174,751 6343-6349 Travel 1,306,112 2,384,476 2,384,476 6351 Property Insurance 1,238,147 640,000 640,000 6352 Liability Insurance - 432,000 432,000 6353 Fidelity Premium - 28,000 28,000 6359 Judgments Against LEA 124,185 - - 6360-6390 Other Purchased Services 8,645,694 8,765,434 8,765,434 6410 General Supplies 10,041,436 12,043,769 12,043,769 6430 Regular Textbook 2,679,357 3,239,568 3,239,568 6440 Library Books 264,965 344,368 344,368 6450 Periodicals 424,682 30,419 30,419 6460 Warehouse Adjustments 10,778 - - 6471 Food Service - Food Only 5,245,565 5,354,835 5,354,835 6480 Energy Supplies/Service 5,710,468 5,705,112 5,705,112 6490 Other Supplies 55,697 95,267 95,267 6510 Land - - - 6520 Buildings 26,379,795 26,967,879 26,967,879 6530 Improvement to Sites 37,396 276,363 276,363 6541 Equipment - General 4,217,649 5,507,752 5,507,752 6542 Equipment - Instructional 263,088 266,442 266,442 6551 Vehicles (Except School Buses) 188,147 156,938 156,938 6552 School Buses 1,030,175 996,998 996,998 6591 Other Capital Outlay 4,635,691 5,643,308 5,643,308 6610 Principal 34,167,608 95,041,200 95,041,200 6620 Interest 16,156,644 15,645,284 15,645,284 6630 Other (Fin. Fees, etc.) 166,913 25,049 25,049 Subtotal 320,845,001 396,400,072 396,400,072 Recommended Changes FY17 Per Summary (99,317,910) Total Governmental Funds Expense Budget 320,845,001 396,400,072 297,082,162 2014-2015 Actual* 2015-2016 Revised Budget 2016-2017 Budget Object Code Health Benefit Trust Internal Service Fund 26,970,226 28,000,000 28,000,000 MRI FY15/GOCAPS Fiduciary Fund 880,296 350,000 562,974 *Values presented are rounded Page 10

BONDED INDEBTEDNESS Fiscal 2010A Series 2010B Series Year Principal Interest Total Principal Interest Total 2017 0.00 569,792.20 569,792.20 0.00 689,557.80 689,557.80 2018 0.00 569,792.20 569,792.20 0.00 689,557.80 689,557.80 2019 0.00 569,792.20 569,792.20 0.00 689,557.80 689,557.80 2020 0.00 569,792.20 569,792.20 0.00 689,557.80 689,557.80 2021 0.00 569,792.20 569,792.20 0.00 689,557.80 689,557.80 2022 0.00 569,792.20 569,792.20 0.00 689,557.80 689,557.80 2023 0.00 569,792.20 569,792.20 0.00 689,557.80 689,557.80 2024 0.00 569,792.20 569,792.20 0.00 689,557.80 689,557.80 2025 0.00 569,792.20 569,792.20 0.00 689,557.80 689,557.80 2026 0.00 569,792.20 569,792.20 0.00 689,557.80 689,557.80 2027 2,265,000.00 569,792.20 2,834,792.20 2,750,000.00 689,557.80 3,439,557.80 2028 2,425,000.00 441,593.20 2,866,593.20 2,940,000.00 533,907.80 3,473,907.80 2029 2,595,000.00 304,338.20 2,899,338.20 3,140,000.00 367,503.80 3,507,503.80 2030 2,782,000.00 157,461.20 2,939,461.20 3,353,000.00 189,779.80 3,542,779.80 10,067,000.00 7,171,106.80 17,238,106.80 12,183,000.00 8,676,327.20 20,859,327.20 Fiscal Year 2010C Series 2010D Series 2010E Series Principal Interest Total Principal Interest Total Principal Interest Total 2017 0.00 377,700.00 377,700.00 0.00 187,200.00 187,200.00 0.00 394,992.00 394,992.00 2018 0.00 377,700.00 377,700.00 0.00 187,200.00 187,200.00 0.00 394,992.00 394,992.00 2019 0.00 377,700.00 377,700.00 0.00 187,200.00 187,200.00 0.00 394,992.00 394,992.00 2020 0.00 377,700.00 377,700.00 0.00 187,200.00 187,200.00 0.00 394,992.00 394,992.00 2021 0.00 377,700.00 377,700.00 0.00 187,200.00 187,200.00 0.00 394,992.00 394,992.00 2022 0.00 377,700.00 377,700.00 0.00 187,200.00 187,200.00 0.00 394,992.00 394,992.00 2023 0.00 377,700.00 377,700.00 0.00 187,200.00 187,200.00 0.00 394,992.00 394,992.00 2024 0.00 377,700.00 377,700.00 0.00 187,200.00 187,200.00 0.00 394,992.00 394,992.00 2025 0.00 377,700.00 377,700.00 0.00 187,200.00 187,200.00 0.00 394,992.00 394,992.00 2026 0.00 377,700.00 377,700.00 0.00 187,200.00 187,200.00 0.00 394,992.00 394,992.00 2027 0.00 377,700.00 377,700.00 0.00 187,200.00 187,200.00 0.00 394,992.00 394,992.00 2028 7,554,000.00 188,850.00 7,742,850.00 1,130,000.00 187,200.00 1,317,200.00 2,385,000.00 394,992.00 2,779,992.00 2029 0.00 0.00 0.00 1,195,000.00 128,440.00 1,323,440.00 2,525,000.00 270,972.00 2,795,972.00 2030 0.00 0.00 0.00 1,275,000.00 66,300.00 1,341,300.00 2,686,000.00 139,672.00 2,825,672.00 7,554,000.00 4,343,550.00 11,897,550.00 3,600,000.00 2,441,140.00 6,041,140.00 7,596,000.00 5,150,548.00 12,746,548.00 NOTES: 2010A-2010E Series were issued to finance construction projects including additional air conditioning at remaining school sites and tornado safe rooms at Hillcrest, Westport, and Jeffries. Page 11

BONDED INDEBTEDNESS Fiscal 2011 Series 2012 Series 2013 Series 2014A Series Year Principal Interest Total Principal Interest Total Principal Interest Total Principal Interest Total 2017 0.00 450,000.00 450,000.00 3,700,000.00 764,300.00 4,464,300.00 0.00 2,031,000.00 2,031,000.00 0.00 983,125.00 983,125.00 2018 0.00 450,000.00 450,000.00 2,400,000.00 685,300.00 3,085,300.00 0.00 2,031,000.00 2,031,000.00 0.00 983,125.00 983,125.00 2019 0.00 450,000.00 450,000.00 3,110,000.00 611,300.00 3,721,300.00 0.00 2,031,000.00 2,031,000.00 0.00 983,125.00 983,125.00 2020 0.00 450,000.00 450,000.00 2,765,000.00 544,100.00 3,309,100.00 0.00 2,031,000.00 2,031,000.00 0.00 983,125.00 983,125.00 2021 0.00 450,000.00 450,000.00 4,170,000.00 484,300.00 4,654,300.00 0.00 2,031,000.00 2,031,000.00 0.00 983,125.00 983,125.00 2022 0.00 450,000.00 450,000.00 4,565,000.00 357,000.00 4,922,000.00 0.00 2,031,000.00 2,031,000.00 0.00 983,125.00 983,125.00 2023 0.00 450,000.00 450,000.00 4,745,000.00 185,050.00 4,930,050.00 0.00 2,031,000.00 2,031,000.00 0.00 983,125.00 983,125.00 2024 0.00 450,000.00 450,000.00 0.00 0.00 0.00 0.00 2,031,000.00 2,031,000.00 2,750,000.00 983,125.00 3,733,125.00 2025 0.00 450,000.00 450,000.00 0.00 0.00 0.00 0.00 2,031,000.00 2,031,000.00 3,150,000.00 900,625.00 4,050,625.00 2026 0.00 450,000.00 450,000.00 0.00 0.00 0.00 0.00 2,031,000.00 2,031,000.00 3,250,000.00 774,625.00 4,024,625.00 2027 0.00 450,000.00 450,000.00 0.00 0.00 0.00 0.00 2,031,000.00 2,031,000.00 8,750,000.00 649,375.00 9,399,375.00 2028 0.00 450,000.00 450,000.00 0.00 0.00 0.00 7,200,000.00 2,031,000.00 9,231,000.00 0.00 371,875.00 371,875.00 2029 0.00 450,000.00 450,000.00 0.00 0.00 0.00 7,300,000.00 1,743,000.00 9,043,000.00 0.00 371,875.00 371,875.00 2030 0.00 450,000.00 450,000.00 0.00 0.00 0.00 7,400,000.00 1,451,000.00 8,851,000.00 0.00 371,875.00 371,875.00 2031 9,000,000.00 450,000.00 9,450,000.00 0.00 0.00 0.00 7,500,000.00 1,155,000.00 8,655,000.00 0.00 371,875.00 371,875.00 2032 0.00 0.00 0.00 0.00 0.00 0.00 7,700,000.00 780,000.00 8,480,000.00 0.00 371,875.00 371,875.00 2033 0.00 0.00 0.00 0.00 0.00 0.00 7,900,000.00 395,000.00 8,295,000.00 0.00 371,875.00 371,875.00 2034 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 8,750,000.00 371,875.00 9,121,875.00 9,000,000.00 6,750,000.00 15,750,000.00 25,455,000.00 3,631,350.00 29,086,350.00 45,000,000.00 29,896,000.00 74,896,000.00 26,650,000.00 12,792,750.00 39,442,750.00 Fiscal 2014B Series 2015 Series Total Debt Service Obligations Year Principal Interest Total Principal Interest Total Principal Interest Total 2017 4,010,000.00 3,501,300.00 7,511,300.00 3,700,000.00 609,950.00 4,309,950.00 11,410,000.00 10,558,917.00 21,968,917.00 2018 4,400,000.00 3,358,550.00 7,758,550.00 4,600,000.00 498,950.00 5,098,950.00 11,400,000.00 10,226,167.00 21,626,167.00 2019 4,700,000.00 3,202,550.00 7,902,550.00 4,480,000.00 334,950.00 4,814,950.00 12,290,000.00 9,832,167.00 22,122,167.00 2020 5,010,000.00 3,047,050.00 8,057,050.00 5,325,000.00 175,750.00 5,500,750.00 13,100,000.00 9,450,267.00 22,550,267.00 2021 7,750,000.00 2,875,100.00 10,625,100.00 0.00 0.00 0.00 11,920,000.00 9,042,767.00 20,962,767.00 2022 8,500,000.00 2,519,300.00 11,019,300.00 0.00 0.00 0.00 13,065,000.00 8,559,667.00 21,624,667.00 2023 9,500,000.00 2,111,800.00 11,611,800.00 0.00 0.00 0.00 14,245,000.00 7,980,217.00 22,225,217.00 2024 10,150,000.00 1,646,500.00 11,796,500.00 0.00 0.00 0.00 12,900,000.00 7,329,867.00 20,229,867.00 2025 10,900,000.00 1,139,000.00 12,039,000.00 0.00 0.00 0.00 14,050,000.00 6,739,867.00 20,789,867.00 2026 11,880,000.00 594,000.00 12,474,000.00 0.00 0.00 0.00 15,130,000.00 6,068,867.00 21,198,867.00 2027 0.00 0.00 0.00 0.00 0.00 0.00 13,765,000.00 5,349,617.00 19,114,617.00 2028 0.00 0.00 0.00 0.00 0.00 0.00 23,634,000.00 4,599,418.00 28,233,418.00 2029 0.00 0.00 0.00 0.00 0.00 0.00 16,755,000.00 3,636,129.00 20,391,129.00 2030 0.00 0.00 0.00 0.00 0.00 0.00 17,496,000.00 2,826,088.00 20,322,088.00 2031 0.00 0.00 0.00 0.00 0.00 0.00 16,500,000.00 1,976,875.00 18,476,875.00 2032 0.00 0.00 0.00 0.00 0.00 0.00 7,700,000.00 1,151,875.00 8,851,875.00 2033 0.00 0.00 0.00 0.00 0.00 0.00 7,900,000.00 766,875.00 8,666,875.00 2034 0.00 0.00 0.00 0.00 0.00 0.00 8,750,000.00 371,875.00 9,121,875.00 76,800,000.00 23,995,150.00 100,795,150.00 18,105,000.00 1,619,600.00 19,724,600.00 242,010,000.00 106,467,522.00 348,477,522.00 NOTES: 2011 Series was issued to refund the 2009 LPC which was used to partially finance the new Hickory Hills school. 2012 Series was issued to refund the 2003 Series. 2013-2014A Series were issued to finance construction projects including a new Sherwood school and tornado safe room at Kickapoo. 2014B Series was issued to refund the 2006 Series. 2015 Series was issued to refund the 2005 Series, which was issued to refund the 2000 Series. Page 12

LEASE OBLIGATIONS Fiscal 2007 Energy LPC 2009A LPC 2009B LPC 2010 Bus LPC 2012 Athletic Field LPC Year Lease Payment Interest Total Lease Payment Interest Total Lease Payment Interest Total Lease Payment Interest Total Lease Payment Interest Total 2016 260,000.00 83,512.50 343,512.50 200,000.00 12,000.00 212,000.00 0.00 205,850.00 205,850.00 387,525.31 50,979.29 438,504.60 291,199.41 78,830.90 370,030.31 2017 270,000.00 73,112.50 343,112.50 200,000.00 6,000.00 206,000.00 0.00 205,850.00 205,850.00 399,685.69 38,818.91 438,504.60 300,051.88 69,978.43 370,030.31 2018 280,000.00 62,312.50 342,312.50 0.00 0.00 0.00 225,000.00 205,850.00 430,850.00 412,227.65 26,276.95 438,504.60 309,173.45 60,856.86 370,030.31 2019 300,000.00 51,112.50 351,112.50 0.00 0.00 0.00 225,000.00 194,600.00 419,600.00 425,163.17 13,341.43 438,504.60 318,572.33 51,457.98 370,030.31 2020 300,000.00 39,112.50 339,112.50 0.00 0.00 0.00 225,000.00 183,350.00 408,350.00 0.00 0.00 0.00 328,256.93 41,773.38 370,030.31 2021 315,000.00 26,812.50 341,812.50 0.00 0.00 0.00 245,000.00 172,100.00 417,100.00 0.00 0.00 0.00 338,235.94 31,794.37 370,030.31 2022 335,000.00 13,818.76 348,818.76 0.00 0.00 0.00 255,000.00 158,625.00 413,625.00 0.00 0.00 0.00 348,518.31 21,512.00 370,030.31 2023 0.00 0.00 0.00 0.00 0.00 0.00 270,000.00 144,600.00 414,600.00 0.00 0.00 0.00 359,113.31 10,917.00 370,030.31 2024 0.00 0.00 0.00 0.00 0.00 0.00 280,000.00 129,750.00 409,750.00 0.00 0.00 0.00 0.00 0.00 0.00 2025 0.00 0.00 0.00 0.00 0.00 0.00 290,000.00 114,350.00 404,350.00 0.00 0.00 0.00 0.00 0.00 0.00 2026 0.00 0.00 0.00 0.00 0.00 0.00 300,000.00 98,400.00 398,400.00 0.00 0.00 0.00 0.00 0.00 0.00 2027 0.00 0.00 0.00 0.00 0.00 0.00 315,000.00 80,400.00 395,400.00 0.00 0.00 0.00 0.00 0.00 0.00 2028 0.00 0.00 0.00 0.00 0.00 0.00 330,000.00 61,500.00 391,500.00 0.00 0.00 0.00 0.00 0.00 0.00 2029 0.00 0.00 0.00 0.00 0.00 0.00 340,000.00 41,700.00 381,700.00 0.00 0.00 0.00 0.00 0.00 0.00 2030 0.00 0.00 0.00 0.00 0.00 0.00 355,000.00 21,300.00 376,300.00 0.00 0.00 0.00 0.00 0.00 0.00 2,060,000.00 349,793.76 2,409,793.76 400,000.00 18,000.00 418,000.00 3,655,000.00 2,018,225.00 5,673,225.00 1,624,601.82 129,416.58 1,754,018.40 2,593,121.56 367,120.92 2,960,242.48 Fiscal 2015 Technology Lease 2016 Technology Lease Total Payments Year Lease Payment Interest Total Lease Payment Interest Total Lease Payment Interest Total 2016 0.00 0.00 0.00 0.00 0.00 0.00 1,138,724.72 431,172.69 1,569,897.41 2017 427,404.81 10,060.39 437,465.20 654,081.91 4,836.52 658,918.43 2,251,224.29 408,656.75 2,659,881.04 2018 432,595.19 4,870.01 437,465.20 643,893.46 15,024.97 658,918.43 2,302,889.75 375,191.29 2,678,081.04 2019 0.00 0.00 0.00 651,362.63 7,555.80 658,918.43 1,920,098.13 318,067.71 2,238,165.84 2020 0.00 0.00 0.00 0.00 0.00 0.00 853,256.93 264,235.88 1,117,492.81 2021 0.00 0.00 0.00 0.00 0.00 0.00 898,235.94 230,706.87 1,128,942.81 2022 0.00 0.00 0.00 0.00 0.00 0.00 938,518.31 193,955.76 1,132,474.07 2023 0.00 0.00 0.00 0.00 0.00 0.00 629,113.31 155,517.00 784,630.31 2024 0.00 0.00 0.00 0.00 0.00 0.00 280,000.00 129,750.00 409,750.00 2025 0.00 0.00 0.00 0.00 0.00 0.00 290,000.00 114,350.00 404,350.00 2026 0.00 0.00 0.00 0.00 0.00 0.00 300,000.00 98,400.00 398,400.00 2027 0.00 0.00 0.00 0.00 0.00 0.00 315,000.00 80,400.00 395,400.00 2028 0.00 0.00 0.00 0.00 0.00 0.00 330,000.00 61,500.00 391,500.00 2029 0.00 0.00 0.00 0.00 0.00 0.00 340,000.00 41,700.00 381,700.00 2030 0.00 0.00 0.00 0.00 0.00 0.00 355,000.00 21,300.00 376,300.00 860,000.00 14,930.40 874,930.40 1,949,338.00 27,417.29 1,976,755.29 13,142,061.38 2,924,903.95 16,066,965.33 NOTES: 2007 Energy LPC was issued to finance lighting and energy upgrades in buildings throughout the district. 2009A-2009B LPC were issued to finance the purchase and remodel of the new Kraft Administration Center on St Louis St. 2010 Bus LPC was issued to finance the purchase of 31 buses. 2012 Athletic Field LPC was issued to finance new athletic field turf and equipment. Page 13