Summary of Reserve Fund Balance Sheet

Summary of Reserve Fund Balance Sheet

ERS Reserve Current Balance Recommended
EBAL Reserve 2013/14 Amount to Reaffirm
Unemployment Reserve
Capital Reserve Fund $11,895,344 June 2014
Capital Reserve Fund II $7,264,430 $11,912,925
Repair Reserve $859,808 $8,045,914
Tax Certiorari Reserve $437,312 $1,724,052

$0 $635,500
$750,000 $5,000,000
$500,000 $1,000,000

$0

Total $21,706,894 $28,318,391

6/17/2014 Summary 9:21 AM

ERS Reserve Analysis

Year Total Projected Projected Payroll ERS Rate Inc. Projected Projected District Potential
Contribution
Payroll % growth @ 3% higher each yr.

2014/15 $16,086,546 3.00% 20.90% $3,362,088
2015/16 $16,569,142 3.00% 23.90% $3,960,025
2016/17 $17,066,217 26.90% $4,590,812

TOTAL $11,912,925

The total projected payroll for 2014/15 is based on budget. The ERS rate increase is based on 3 additional
percentage points each year.

6/17/2014 ERS Reserve 9:21 AM

Employee Benefit Accrued Liability Reserve

This is a projection for the June 30, 2014, compensated absences total for all eligble district employees (as of
June 11, 2014).

Administrators $514,867
Teachers $7,086,813
Nurses
Clerical $16,170
B&G $94,076
Aides $236,947
Other
$0
Grand Total $97,041

$8,045,914

6/17/2014 EBAL Reserve 9:21 AM

Unemployment Reserve Fund Analysis

Year Total Projected Expense Projected Potential
Growth

2014/15 $230,226 -
2015/16 $546,126 $315,900
2016/17 $947,700 $631,800

TOTAL $1,724,052

The district has experienced growth in the area of unemployment costs in recent history. During
the 2013-14 budget process over 15 positions were eliminated. A majority of these staff
members returned to work, due to the large number of retirees. It is unlikely that we will
continue to have as many retirees in the future. Given the tax levy limit legislation and
enrollment trends it is probable that the district will continue to reduce staffing positions in
future years. This will have a direct impact on unemployment costs. This reserve will help
protect us from future increases.

The 'projected growth' is based on 15 former employees in 2015/16 and 30 potential additional
former employees in 2016/17.

6/17/2014 Unemployment Reserve 9:21 AM

Capital Reserve Fund I

Voter established CRF May 2010: $5,000,000
Voter authorized expenditures CRF May 2011: $4,364,500

Authorized balance as of June 2014: $635,500

6/17/2014 CRF 9:21 AM

Capital Reserve Fund II

Voter established CRF May 2014: $5,000,000

6/17/2014 CRF (2) 9:21 AM

Repair Reserve Fund

BOE established April 2013: -
Voter authorized funding May 2013: $1,000,000

Amount used as of 06/13/2014: $0

6/17/2014 Repair 9:21 AM