Proviso High School District 209 Financial Plan Fiscal Year

Transcription

1 Proviso High School District 209 Financial Plan Fiscal Year May 27, 2014

2 Table of Contents Section 1 Section 2 Section 3 Section 4 Section 5 Section 6 Introduction Enrollment Projections Revenue Projections EAV and TIF database tables Curriculum Updates New Program costs Increase to tech for PARCC Staffing Table Expenditure Estimates Capital Improvement Tables Grant Funded Lighting Improvement Projects Debt Structure Assumptions Used in Plan

3 Section 1 Introduction

4 Board of Education Name Position Current tenure on Board Daniel Adams President April Brian Cross Vice President July Francine Harrell Secretary April Readith Ester Board Member April Theresa Kelly Board Member April Kevin McDermott Board Member April Teresa McKelvy Board Member April State of Illinois Financial Oversight Panel Dr. Craig Schilling, Ed.D. Chairman Socrates Rivers Merilee McCracken Edward Porter Kenneth Walls Executive Administration Dr. Nettie Collins-Hart, Ed.D, Superintendent Kim Waller-Echols, Assistant Superintendent, Curriculum and Instruction Ed Moyer, Executive Director, Assessment and Planning Brenda Horton, Executive Director, Human Resources Todd Drafall, Chief Financial Officer Dr. Bessie Karvelas, Ed.D. Principal, Proviso Math and Science Academy Oscar Hawthorne, Principal, Proviso West High School Tony Valente, Principal, Proviso East High School

5 Introduction The district annually updates its five- year financial plan, based on recent historical spending and conservative estimates of revenue and industry based estimates of expenditure. The primary focus of the plan is to anticipate district resources over the next five years and to determine if and when changes are needed to meet current programs, and or resources are available to offer and develop new programs. Annually, as the district develops its budget, these projections will need to be taken into account to determine the funding ability of future programs. The introduction section contains a recap of the 2014 budget with anticipated fund balances, as well as the aggregate chart of anticipating fund balances for the projected timeframe. Following this section are sections outlining the anticipated enrollment and revenue, staffing, curriculum changes and expenditures, capital needs, and debt service. The last section includes a more detail review of the assumptions used to develop the graphs and tables throughout the document. This document is largely a visual representation of those assumptions. Included in this financial plan is the following: Current staffing levels for both certified and support staff as noted in the staffing tables. A plan to introduce and update a new curriculum for the next five years A refresh cycle of current computers An increase in capital expenditures using grant funds for updating electrical services for the district The continuation of the districts current spending pattern of $1.5- $2.0 million a year in capital along with use of QZAB bonds for health life safety project Other Assumptions Revenue and expenditure assumptions for the plan are included in the last section of the plan. GSA funding is based on the current foundation level at 83% proration. The district remains on alternative formula thru the duration of the projection model except for fiscal year when the projection model puts the district into foundation level funding. The increase is nominal, however it shows that the district may be on the line between alternate and foundation level funding and depending on ADA and EAV the district may cross over prior to the projection. The local tax revenue is based on conservative estimates of valuation along with the assumptions that increment, based on 2012 values, will become taxable as projected by information received from the County Clerk s Office and municipalities.

6 The plan includes the assumption of a cost shift starting Fiscal year 2016 for a portion of the pension costs for certified staff currently paid by the State to the Teacher Retirement System. The district s current estimate for health insurance renewal is 10% based on current experience and a recommendation from Blue Cross Blue Shield with an estimated 10% per year for the remainder of the projection. Based on those premium increases the district would be required to pay the Cadillac tax starting in The estimated tax impact for 2018 and 2019 is $654,000 annually. Budget versus Financial Plan Whereas, many of the assumptions and forecasts in this financial plan for the next fiscal year will be very close to some of the numbers used in the development of the 2015 budget, the financial plan is not the budget. The plan projects with current trends in revenue and expenditures for a longer term. A more detail account of actual expenses will be developed for the creation of the fiscal year budget, which the Board will see in July. Executive summary Expenditure The financial plan reflects the up to date staffing levels for fiscal year 2015, and current contract assumptions. It also includes increases in expenditures for technology to accommodate the PARCC assessments and a replacement schedule for current computers. Additionally, there is an allocation of resources for the development and rollout of a new updated curriculum each year of the plan. New programs noted in the financial plan are also planned for. The plan includes an itemization of costs for new programs as well as the goals, the reason for the program and how success will be measured. Revenue The district is significantly funded by property taxes with a strong commercial/industrial base, almost 60% of the tax base is non- residential. Additionally, the district has 35 TIF districts, some of which are set to expire and property to come back on the tax rolls during this planning period. If those TIF districts are not dissolved as expected there could be a decrease or delay in the revenue received by the district for the expiration of the TIF. This projection does not include any anticipated revenue from TIF proceeds. Capital needs and debt service Included in the plan are several tables of capital needs by building. The district capital needs exceed the district s operating resources and its ability to issue bonded debt to fund. That said the district will need to develop a plan to issue bonds to start to elevate the long list of capital upgrades in the next fiscal year. Renovation

7 work will take several years to complete. If the district is able to borrow up to $20 million over the next three years along with funds from operating will significantly reduce the capital list and result in significant upgrades to the district s infrastructure. The district does have excess debt service funds that can be used to lesson the impact of any future bond issue on property tax payers. Aggregate projection Below is a short table of the anticipated revenue, expenditures and fund balances for all operating funds. Enrollment History Enrollment projection for the plan year is not divided by school, however the district does not have any strong indication that enrollment will significantly increase or decrease during the planning period. Fiscal Year Proviso East Proviso West PMSA Total Change % Change ,080 2, , ,973 2, , % ,872 2, , % ,905 2, , % ,971 2, , % ,942 2, ,174 (24) % ,941 2, ,125 (49) % ,917 2, ,054 (71) % ,770 2, ,786 (268) %

8 Conclusion The district has many resources, however, it has an equal number of liabilities and needs. The current projection indicates that at this time, given the assumptions, current programs can be funded at the current levels through 2018 without significant reduction in fund balance, however, there is limited funding for capital needs during the same time. Transfers out of operational funds to capital projects along with the current funding of programs reduces operating fund balance by almost two months of cash on hand. It also means that other new programs or initiatives would require the reduction or elimination of something currently being offered to be able to fund new programs. This plan does not include any significant expansion of technology in the schools outside of some computers added in curriculum programs, replacement of old desktop and laptops.

9 Proviso Township High Schools District 209 Fiscal Year 2014 Proposed Amended Budget Operation/ IMRF/Soc Working Fire Prevent Education Maintenance Debt Service Transportation Security Capital Cash Tort & Safety Total Beginning Balance (audit) 21,707,715 1,588,169 5,226,587 4,503,676 1,838,977 1,600,423 3,039, , ,634 39,359,930 Revenue Property Taxes 40,765,869 8,091,329 5,334,360 1,516,071 2,534,594 9,493 9, ,246 58,449,455 Corp Personal Prop Tax 3,000, ,000 3,100,000 Other Local 2,267, ,860 28, ,697 1,600 20,000 1,000 2,000 3,004,211 State Aid 8,900,000 1,500, ,000 10,900,000 Special Ed Reimbursement 2,359,492 2,359,492 Other State 586, ,000 1,313,844 2,700,649 NCLB Grants 1,808,261 1,808,261 Federal Lunch and Bfast 880, ,000 Other Federal 348, ,731 On behalf payments 7,000,000 7,000,000 Total Revenue 67,916,212 10,543,189 5,362,360 3,862,612 2,634,594 1,600 29,493 10, ,246 90,550,799 Expenditures Salaries 31,622,331 4,816, ,000 36,614,221 Benefits 10,190,637 1,005,462-2,566,525 13,762,624 Purchased Services 6,378, ,246 80,000 2,700, ,000 10,320,489 Supplies/Material 1,470,581 2,084,083 63,187 3,617,851 Capital 280, ,059 2,250,000 2,965,059 Tuition/Other 9,144, ,000 4,886, ,000 15,311,737 Non-Capitalized Equipment 1,407,669 28,457 1,436,126 On behalf payments 7,000,000 7,000,000 Total Expenditure 67,494,712 9,767,197 4,966,100 3,808,573 2,566,525 2,250, ,000 91,028,107 Proceeds from Bond Sales 1,411,850 1,411,850 Fund transfers (500,000) 500,000 Ending Balances 22,129,215 1,864,161 5,622,847 4,557,715 1,907,046 1,263,873 3,069, , ,880 40,294,472 Ending Balance over (under)beginning Balance 421, , ,260 54,039 68,069 (336,550) 29,493 10,493 15, ,542 Revenue over (Expenditure) 421, , ,260 54,039 68,069 (2,248,400) 29,493 10,493 15,246 (477,308) Operating Funds Rev over (Exp) 421, ,992 54,039 68,069 29,493 10,493 1,359,586 Ending Balance Days cash on hand** , * Adjustment made by independent auditor to Fiscal year Proviso Township Treasurer refused to make adjustment to their books. Beginning balance is based on cash and is prior to audit adjustments ** Days cash on-hand excludes the expenditure of On-behalf payments made to teacher retirement system by State of Illinois for the district 5/22/14 8:14 AM budget recap.xlsx FY14 ammended budget

10 Projected Year-End Balances (Educational, Operations and Maintenance, Transportation, IMRF, Working Cash, and Tort Funds.) $40 $34,895,609 $35,550,676 $34,030,455 $32,836,241 $31,178,912 $30 $28,972,440 $25,113,106 $25,523,383 $20 $17,931,336 $18,879,999 $20,000,605 $23,092,133 $19,422,808 $19,409,685 Millions $10 $15,579,349 $10,963,674 $1,784,788 $0 $4,529,273 $6,211,783 $1,587,599 $8,362,637 $3,726,108 ($10) ($20) Educational Operations and Maintenance Transportation IMRF Working Cash Tort FY End Balances Low-Point Balance 2014 PMA Financial Network, Inc. Page: 4

11 Aggregate - Projection Summary BUDGET REVENUE / EXPENDITURE PROJECTIONS FY 2014 FY 2015 % chg FY 2016 % chg FY 2017 % chg FY 2018 % chg FY 2019 % chg REVENUE Local $59,192,469 $56,660, % $58,149, % $60,422, % $63,215, % $63,962, % State $15,960,141 $16,733, % $15,467, % $14,142, % $13,871, % $14,599, % Federal $3,036,992 $3,145, % $3,145, % $3,145, % $3,145, % $3,145, % Other $0 $0 $0 $0 $0 $0 TOTAL REVENUE $78,189,602 $76,539, % $76,762, % $77,709, % $80,232, % $81,707, % EXPENDITURES Salary and Benefit Costs $48,261,269 $48,772, % $50,755, % $53,307, % $54,745, % $57,012, % Other $27,368,965 $25,611, % $26,027, % $25,754, % $26,193, % $26,644, % TOTAL EXPENDITURES $75,630,234 $74,384, % $76,782, % $79,061, % $80,938, % $83,656, % SURPLUS / DEFICIT $2,559,368 $2,155,067 ($20,221) ($1,351,543) ($706,473) ($1,949,056) OTHER FINANCING SOURCES/USES Transfer Among Funds (Net) $0 ($1,500,000) ($1,500,000) ($1,500,000) ($1,500,000) ($1,500,000) Sale of Bonds $0 $0 $0 $0 $0 $0 Other Financing Sources $0 $0 $0 $0 $0 $0 Other Financing Uses ($500,000) $0 $0 $0 $0 $0 TOTAL OTHER FIN. SOURCES/USES ($500,000) ($1,500,000) ($1,500,000) ($1,500,000) ($1,500,000) ($1,500,000) SURPLUS / DEFICIT INCL. OTHER FIN. SOURCES $2,059,368 $655,067 ($1,520,221) ($2,851,543) ($2,206,473) ($3,449,056) BEGINNING FUND BALANCE $32,836,241 $34,895,609 $35,550,676 $34,030,455 $31,178,912 $28,972,440 PROJECTED YEAR END BALANCE $34,895,609 $35,550,676 $34,030,455 $31,178,912 $28,972,440 $25,523,383 FUND BALANCE AS % OF EXPENDITURES 46.14% 47.79% 44.32% 39.44% 35.80% 30.51% FUND BALANCE AS # OF MONTHS OF EXPEND PMA Financial Network, Inc. Page: 3

12 Aggregate View - Projection Summary Financial Profile Calculation For FY 2014 Ratio Score Value Fund Balance to Rev Ratio Total Score: 3.8 Exp to Rev Ratio Category:Financial Recognition Days Cash On Hand % of Short Term Borrowing Max Remaining % of Long Term Debt Margin Remaining Watch Early Warning Review PMA Financial Network, Inc. Page: 30

13 Section 2 Enrollment Projections Revenue Projections EAV and TIF database tables

14 Enrollment Analysis CLASS PROGRESSION RATIOS ACTUAL PROJECTED : : : ENROLLMENT HISTORY AND PROJECTIONS ENROLLMENT CHANGE 6,000 5,000 4,871 4,925 5,033 4,869 4,786 4,449 4,588 4,701 4,822 4,734 4, , ,000 (100) (83) (88) 2,000 (200) (164) 1,000 (300) (400) (337) Actual Projected Actual Projected 2012 PMA Financial Network, Inc. Page: 39

15 Revenue Projections: Local property taxes account for 67% of revenues: q EAV: Decreased by 7.5% in LY12; projected to decrease by 4.5% in LY13 with continued minimal decreases until levels off in LY18 q Consumer Price Index: LY14 is 1.5% and projected at 2.1% future years q New Property Growth: $4.3million; LY13 $5 million; LY14 $22M; LY15 $30M; LY16 $50M; LY17 $8M; LY18 $6M. See attached chart for expiring TIF assumptions q Property Tax Collection Rate: 99% future years q Corporate Personal Property Replacement Tax: flat at FY14 rate Other Local Revenue Sources account for 8.4% of revenues q Summer School Tuition, interest income, fees, & rental income: projected flat at FY14 rates **note PAEC transportation refund General State Aid represents 14.6% of FY14 revenues Other state funds (mandated categoricals) are 4.8% of revenues We assume GSA foundation will remain constant at $6,119 and will be prorated at 89% of entitlement in FY14 and 83% thereafter; moves from Alternate Formula to Foundation level. Proration formula would reduce FY14 by $121,165. Transportation revenue is projected to remain relatively stable at FY14 level We assume categorical revenue will remain at FY14 levels FY14, FY15 & FY16 Operations & Maintenance Fund Revenue contains $800,000 grant from DCEO for electrical upgrades** All districts get federal dollars to support low income and special education students, plus a few smaller grants Federal revenues for Proviso represent 5% of total revenue. This totals about $3 million

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17 Tax Year TIF expected to Expire Count of TIF DIST Grand Total BELLWOOD BERKELEY 1 1 BROADVIEW FOREST PARK HILLSIDE MAYWOOD MELROSE PARK NORTHLAKE STONE PARK 1 1 Grand Total Increment by Municipality MELROSE PARK 28% NORTHLAKE 7% STONE PARK 0% BERKELEY 0% BROADVIEW 21% BELLWOOD 0% MAYWOOD 19% HILLSIDE 16% FOREST PARK 9%

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19 General State Aid General State Aid Foundation Level General State Aid Revenue (in Millions) 7,000 6,000 5,000 4,000 6,119 6,119 6,119 6,119 6,119 6,119 6,119 6,119 6,119 6, $8.1 $9.8 $9.5 $10.9 $11.6 $10.6 $9.8 $9.5 $10.2 3,000 6 $4.9 2, , Actual Projected Actual Projected 2012 PMA Financial Network, Inc. Page: 37

20 BUDGET Aggregate - Revenue Analysis REVENUE PROJECTIONS FY 2014 FY 2015 % chg FY 2016 % chg FY 2017 % chg FY 2018 % chg FY 2019 % chg LOCAL Property Taxes $52,921,849 $51,362, % $52,795, % $55,030, % $57,800, % $58,534, % CPPRT $3,100,000 $3,100, % $3,100, % $3,100, % $3,100, % $3,100, % Pupil Activities $416,000 $416, % $416, % $416, % $416, % $416, % Other Local Revenue $2,754,620 $1,782, % $1,837, % $1,875, % $1,898, % $1,912, % TOTAL LOCAL REVENUE $59,192,469 $56,660, % $58,149, % $60,422, % $63,215, % $63,962, % STATE General State Aid $10,900,000 $11,648, % $10,623, % $9,816, % $9,519, % $10,219, % Other State Revenue $5,060,141 $5,084, % $4,844, % $4,326, % $4,352, % $4,379, % TOTAL STATE REVENUE $15,960,141 $16,733, % $15,467, % $14,142, % $13,871, % $14,599, % TOTAL FEDERAL REVENUE $3,036,992 $3,145, % $3,145, % $3,145, % $3,145, % $3,145, % FLOW-THROUGH REVENUE $0 $0 $0 $0 $0 $0 TOTAL REVENUE $78,189,602 $76,539, % $76,762, % $77,709, % $80,232, % $81,707, % REVENUE BY SOURCE DETAIL -FY 2014 REVENUE PROJECTION (MILLIONS) Other Local 8.0% General State Aid 13.9% Other State 6.5% Federal 3.9% Property Taxes 67.7% $90 $80 $70 $60 $50 $40 $30 $20 $10 $0 $78.2 $76.5 $76.8 $77.7 $80.2 $81.7 FY 2014 FY 2015 FY 2016 FY 2017 FY 2018 FY PMA Financial Network, Inc. Page: 1

21 BUDGET Educational Fund - Revenue Analysis REVENUE PROJECTIONS FY 2014 FY 2015 % chg FY 2016 % chg FY 2017 % chg FY 2018 % chg FY 2019 % chg LOCAL Property Taxes $40,765,869 $39,717, % $41,311, % $43,545, % $46,005, % $46,859, % CPPRT $3,000,000 $3,000, % $3,000, % $3,000, % $3,000, % $3,000, % Pupil Activities $416,000 $416, % $416, % $416, % $416, % $416, % Other Local Revenue $1,692,620 $1,648, % $1,684, % $1,710, % $1,731, % $1,748, % TOTAL LOCAL REVENUE $45,874,489 $44,781, % $46,411, % $48,672, % $51,152, % $52,024, % STATE General State Aid $8,900,000 $10,148, % $9,123, % $8,316, % $8,019, % $8,719, % Other State Revenue $2,946,297 $2,751, % $2,751, % $2,751, % $2,751, % $2,751, % TOTAL STATE REVENUE $11,846,297 $12,899, % $11,874, % $11,067, % $10,770, % $11,471, % TOTAL FEDERAL REVENUE $3,036,992 $3,145, % $3,145, % $3,145, % $3,145, % $3,145, % FLOW-THROUGH REVENUE $0 $0 $0 $0 $0 $0 TOTAL REVENUE $60,757,778 $60,826, % $61,431, % $62,884, % $65,067, % $66,640, % REVENUE BY SOURCE DETAIL -FY 2014 REVENUE PROJECTION (MILLIONS) General State Aid 14.6% Other State 4.8% Federal 5.0% $70.0 $60.0 $50.0 $60.8 $60.8 $61.4 $62.9 $65.1 $66.6 Other Local 8.4% $40.0 $30.0 $20.0 Property Taxes 67.1% $10.0 $0.0 FY 2014 FY 2015 FY 2016 FY 2017 FY 2018 FY PMA Financial Network, Inc. Page: 5

22 BUDGET Operations and Maintenance Fund - Revenue Analysis REVENUE PROJECTIONS FY 2014 FY 2015 % chg FY 2016 % chg FY 2017 % chg FY 2018 % chg FY 2019 % chg LOCAL Property Taxes $8,091,329 $8,275, % $8,413, % $8,414, % $8,567, % $8,469, % Earnings on Investments $17,000 $1, % $2, % $3, % $4, % $3, % Rentals $100,000 $100, % $100, % $100, % $100, % $100, % Other Local Revenue $1,000 $1, % $1, % $1, % $1, % $1, % TOTAL LOCAL REVENUE $8,209,329 $8,378, % $8,516, % $8,519, % $8,672, % $8,573, % STATE General State Aid $1,000,000 $1,500, % $1,500, % $1,500, % $1,500, % $1,500, % Other State Revenue $800,000 $800, % $800, % $256, % $256, % $256, % TOTAL STATE REVENUE $1,800,000 $2,300, % $2,300, % $1,756, % $1,756, % $1,756, % TOTAL FEDERAL REVENUE $0 $0 $0 $0 $0 $0 FLOW-THROUGH REVENUE $0 $0 $0 $0 $0 $0 TOTAL REVENUE $10,009,329 $10,678, % $10,816, % $10,275, % $10,428, % $10,329, % REVENUE BY SOURCE DETAIL -FY 2014 Other Local 1% General State Aid 10% Other State 8% $12.0 $10.0 $8.0 $6.0 $10.0 REVENUE PROJECTION (MILLIONS) $10.7 $10.8 $10.3 $10.4 $10.3 Property Taxes 81% $4.0 $2.0 $0.0 FY 2014 FY 2015 FY 2016 FY 2017 FY 2018 FY PMA Financial Network, Inc. Page: 9

23 BUDGET Transportation Fund - Revenue Analysis REVENUE PROJECTIONS FY 2014 FY 2015 % chg FY 2016 % chg FY 2017 % chg FY 2018 % chg FY 2019 % chg LOCAL Property Taxes $1,516,071 $1,079, % $885, % $885, % $901, % $891, % Transportation Fees $9,000 $9, % $9, % $9, % $9, % $9, % Earnings on Investments $9,000 $12, % $20, % $23, % $20, % $14, % Other Local Revenue $900,000 $0 ####### $0 $0 $0 $0 TOTAL LOCAL REVENUE $2,434,071 $1,100, % $915, % $918, % $931, % $915, % STATE General State Aid $1,000,000 $0 ####### $0 $0 $0 $0 Other State Revenue $1,313,844 $1,533, % $1,293, % $1,319, % $1,345, % $1,372, % TOTAL STATE REVENUE $2,313,844 $1,533, % $1,293, % $1,319, % $1,345, % $1,372, % TOTAL FEDERAL REVENUE $0 $0 $0 $0 $0 $0 FLOW-THROUGH REVENUE $0 $0 $0 $0 $0 $0 TOTAL REVENUE $4,747,915 $2,634, % $2,208, % $2,237, % $2,277, % $2,287, % REVENUE BY SOURCE DETAIL -FY 2014 REVENUE PROJECTION (MILLIONS) General State Aid 21.1% Other State 27.7% Other Local 19.3% Property Taxes 31.9% $5.0 $4.5 $4.0 $3.5 $3.0 $2.5 $2.0 $1.5 $1.0 $0.5 $0.0 $4.7 $2.6 $2.2 $2.2 $2.3 $2.3 FY 2014 FY 2015 FY 2016 FY 2017 FY 2018 FY PMA Financial Network, Inc. Page: 15

24 Section 3 Curriculum Updates New Program costs Increase to tech for PARCC Staffing Table Expenditure Estimates

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26 Expenditures assumptions Salaries/Contracts: Salaries and benefits comprise 64% of the expenditure budget. Custodial contract is in place and reflected in projections. Teachers and support staff still negotiating. Administrators at 3% per year. Health Insurance: Assumed 10% increase FY15; 12% FY16. then 12% thereafter Added Cadillac tax (ACA) $654,000 starting FY18. Enrollment/Staffing as noted in staffing charts Retirements: Includes 38 teacher retirees over next 5 years. Assumed TRS cost shift of.5% per year for 4 years in FY16. Purchased services, supplies, other increase by 2.4% annually except Other object in Education Fund (Special Ed tuition) and Transportation Fund which is 3% increase annually. Operations & Maintenance Fund has $500,000 transfer to Capital Projects Fund FY14 and $1,500,000 for FY Curriculum needs: budgeted at $1.5 million annually Technology needs: budgeted at $1.1 million annually for computer replacement plan Electrical upgrades from DCEO grant budgeted in Operations & Maintenance Fund, capital expense object

27 New program: Alternative Learning Opportunities Program (ALOP) Revenue is based on General State Aid (GSA) with 83% proration of the current foundation level, estimate of 85% ADA of 60 students after a 25% administrative fee to West 40 to manage the ALOP.

28 Short synopsis of the ALOP program and how growth and success will be measured: 1. What the program is supposed to do: The Truancy ALOP is designed to meet the needs of students whose truancy has likely contributed to their lack of academic progress. The program would focus on the areas of: recovering credit and helping students graduate on time; providing counseling needed to address social, emotional and behavioral needs especially related to improving attendance; and college and career readiness. 2. The program relates to Board Goal 1: Improve Educational Performance of All Students. Specifically, the Truancy ALOP will assist in meeting the goal of attaining graduation rates of 80% or higher by the end of FY The following metrics will be used to measure program success: Effectiveness 1. Student attendance will be monitored on a daily basis. [Metric: Number of students in daily attendance] 2. Student course completion will be monitored on a weekly basis. [Metric: Number of students on track toward course completion] 3. Students enrolled in the program will graduate on time. [Metric: Number of students graduating at the end of SY15]

29 The Barber/Cosmetology Program

30 The Barber/Cosmetology Program will provide 40 students with an opportunity to participate in a two- year cohort program that will lead to them being eligible to take the State Exam to become a licensed Barber or Cosmetologist. Matrix: the number of students who successfully complete the program in 2 years. The number of students who obtain their license and the number of students who obtain full time employment.

31 Estimated Technology costs for fiscal year This estimate includes what we currently expect is needed from the tech department for implementation of the PARCC testing. This also includes a refreshment cycle for desktops and laptops that has not previously been in place. Description Justification Estimated Expenditu res CONTRACTS This is the last year for the copier contract. This expenditure includes estimates for "end of contract" costs. $200,000 Copier Maintenance $200,000 PROFESSIONAL & TECH SERVICES Wiring Network Upgrades Operational Software Instructional Software Expansion of network will meet growing demand of equable access throughout the campuses. $820,000 $190,000 $200,000 $180,000 $250,000 REPAIRS & MAINTENANCE Repair of Damaged Equipment Replacing and/or buying new equipment to reduce repair costs. $5,000 $5,000 COMMUNICATIONS Communications Software Cost to purchase communications software subscriptions. $4,000 $4,000 OFFICE SUPPLIES Instructional Office Supplies Operational Office Supplies The PARCC Technology Guidelines includes requirements for supplies (headphones, calculators, etc..) for each student during testing $100,000 $50,000 $50,000 TONER Cost of toner purchase for each campus. $20,000 Printer toner cartridges $20,000

32 CAPITAL OUTLAY/RPLC The decision to replace desktops and laptops for the PARCC assessment is twofold. The Technology Guidelines for PARCC Assessments provides guidance in selecting the type of technology to use for the assessments. Due to the costs associated with the purchase of additional peripherals and tools needed when using other types of technology, it was decided that it would be more cost effective and applicable to our environment to administer the test on desktops and laptops. The Technology Guidelines also outlines levels of computer and network capacity that are likely to meet the growing demand for school technology that supports learning and assessments across classrooms. Laptops and desktops meeting the recommended specifications can be expected to satisfy PARCC guidelines through the school year. $500,000 Desktop Lifecycle Replacement Laptop Lifecycle Replacement Tablet Lifecycle Replacement Server Lifecycle Replacement $246,000 $200,000 $15,000 $39,000 CAPITAL OUTLAY/NEW Desktops Laptops Tablets Server Printers Carts Classroom Equipment While the primary reason for purchasing new equipment will be to fill in technology gaps to meet curriculum and instruction needs, the overarching goal is to meet the specifications in the Technology Guidelines for PARCC Assessments for the network capacity. $300,000 $95,000 $50,000 $15,000 $10,000 $15,000 $15,000 $100,000 Total estimated technology costs for FY 2015 $1,949,000

33 Dept East SY15 FY15 Return Diff West SY15 FY15 Return Diff PMSA SY15 FY15 Return Diff District SY15 FY15 Return Vac NOTES Activities Coordinator Applied Tech Travel between East and West Art Business English Transfer from W to E / 1 East ELL East FCS West Guidance PMSA Library Math Transfer to PMSA / 2 OVER - reassign to Science Music PE Transfer / 1 over - reassign to Soc Studies Science Transfer from PMSA / 1 East Social Studies vacancies: W; PMSA Social Workers West Special Education E Technology World Languages PMSA Certified Totals NJROTC Psychologists Support Totals Grand Totals

34 Staffing table totals for District Dept District SY15 District SY14 District SY13 District SY12 Activities Coordinator Applied Tech Art Business English ELL 5 FCS Guidance Library Math Music PE Science Social Studies Social Workers Special Education Technology 1 World Languages Certified Totals NJROTC Psychologists Support Totals Grand Totals

35 Staffing Table for Proviso East Dept East SY15 East SY14 East SY13 East SY12 Activities Coordinator 0 Applied Tech Art Business English ELL 2 FCS Guidance Library Math Music PE Science Social Studies Social Workers Special Education Technology World Languages Certified Totals NJROTC Psychologists Support Totals Grand Totals

36 Staffing Table for Proviso West Dept West SY15 West SY14 West SY13 West SY12 Activities Coordinator 0 Applied Tech Art Business English ELL 3 FCS Guidance Library Math Music PE Science Social Studies Social Workers Special Education Technology World Languages Certified Totals NJROTC Psychologists Support Totals Grand Totals

37 Staffing table for PMSA Dept PMSA SY15 PMSA SY14 PMSA SY13 PMSA SY12 Activities Coordinator Applied Tech Art Business English ELL FCS Guidance Library Math Music PE Science Social Studies Social Workers Special Education Technology 1 World Languages Certified Totals NJROTC Psychologists Support Totals Grand Totals

38 Aggregate - Expenditure Analysis BUDGET EXPENDITURE PROJECTIONS FY 2014 FY 2015 % chg FY 2016 % chg FY 2017 % chg FY 2018 % chg FY 2019 % chg Salaries $36,261,843 $36,447, % $37,476, % $38,864, % $38,575, % $39,572, % Benefits $11,999,426 $12,325, % $13,278, % $14,442, % $16,169, % $17,439, % TOTAL SALARIES & BENEFITS $48,261,269 $48,772, % $50,755, % $53,307, % $54,745, % $57,012, % Purchased Services $9,734,359 $9,150, % $9,226, % $9,304, % $9,384, % $9,465, % Supplies And Materials $3,874,390 $2,778, % $2,813, % $2,848, % $2,884, % $2,921, % Capital Outlay $723,780 $1,497, % $1,497, % $797, % $797, % $797, % Other Objects $12,369,503 $10,420, % $10,725, % $11,040, % $11,363, % $11,696, % Non-Capitalized Equipment $666,933 $1,764, % $1,764, % $1,764, % $1,764, % $1,764, % Termination Benefits $0 $0 $0 $0 $0 $0 Provision For Contingencies $0 $0 $0 $0 $0 $0 TOTAL ALL OTHER $27,368,965 $25,611, % $26,027, % $25,754, % $26,193, % $26,644, % TOTAL EXPENDITURES $75,630,234 $74,384, % $76,782, % $79,061, % $80,938, % $83,656, % FY 2014 EXPENDITURES BY OBJECT EXPENDITURE PROJECTION (MILLIONS) Supplies And Materials 5.1% Capital Outlay 1.0% Other Objects 16.4% Non-Capitalized Equipment 0.9% $90 $80 $70 $60 $75.6 $74.4 $76.8 $79.1 $80.9 $83.7 Purchased Services 12.9% $50 $40 $30 Benefits 15.9% Salaries 47.9% $20 $10 $0 FY 2014 FY 2015 FY 2016 FY 2017 FY 2018 FY PMA Financial Network, Inc. Page: 2

39 BUDGET Educational Fund - Expenditure Analysis EXPENDITURE PROJECTIONS FY 2014 FY 2015 % chg FY 2016 % chg FY 2017 % chg FY 2018 % chg FY 2019 % chg Salaries $31,342,338 $31,424, % $32,349, % $33,629, % $33,231, % $34,115, % Benefits $8,118,250 $8,448, % $9,253, % $10,155, % $11,653, % $12,678, % TOTAL SALARIES & BENEFITS $39,460,588 $39,873, % $41,602, % $43,785, % $44,884, % $46,793, % Purchased Services $6,281,854 $5,550, % $5,550, % $5,550, % $5,550, % $5,550, % Supplies And Materials $1,860,410 $1,350, % $1,350, % $1,350, % $1,350, % $1,350, % Capital Outlay $297,221 $297, % $297, % $297, % $297, % $297, % Other Objects $11,088,503 $9,500, % $9,785, % $10,078, % $10,380, % $10,692, % Non-Capitalized Equipment $652,610 $1,750, % $1,750, % $1,750, % $1,750, % $1,750, % Termination Benefits $0 $0 $0 $0 $0 $0 Provision For Contingencies $0 $0 $0 $0 $0 $0 TOTAL ALL OTHER $20,180,598 $18,447, % $18,732, % $19,025, % $19,328, % $19,639, % TOTAL EXPENDITURES $59,641,186 $58,320, % $60,335, % $62,810, % $64,212, % $66,433, % FY 2014 EXPENDITURES BY OBJECT EXPENDITURE PROJECTION (MILLIONS) Purchased Services 10.5% Supplies And Materials 3.1% Other Objects 18.6% Non-Capitalized Equipment 1.1% $70.0 $60.0 $50.0 $40.0 $59.6 $58.3 $60.3 $62.8 $64.2 $66.4 $30.0 Benefits 13.6% Salaries 52.6% $20.0 $10.0 $0.0 FY 2014 FY 2015 FY 2016 FY 2017 FY 2018 FY PMA Financial Network, Inc. Page: 6

40 REVENUE BUDGET Educational Fund - Projection Summary REVENUE / EXPENDITURE PROJECTIONS FY 2014 FY 2015 % chg FY 2016 % chg FY 2017 % chg FY 2018 % chg FY 2019 % chg Local $45,874,489 $44,781, % $46,411, % $48,672, % $51,152, % $52,024, % State $11,846,297 $12,899, % $11,874, % $11,067, % $10,770, % $11,471, % Federal $3,036,992 $3,145, % $3,145, % $3,145, % $3,145, % $3,145, % Other $0 $0 $0 $0 $0 $0 TOTAL REVENUE $60,757,778 $60,826, % $61,431, % $62,884, % $65,067, % $66,640, % EXPENDITURES Salary and Benefit Costs $39,460,588 $39,873, % $41,602, % $43,785, % $44,884, % $46,793, % Other $20,180,598 $18,447, % $18,732, % $19,025, % $19,328, % $19,639, % TOTAL EXPENDITURES $59,641,186 $58,320, % $60,335, % $62,810, % $64,212, % $66,433, % SURPLUS / DEFICIT $1,116,592 $2,506,209 $1,096,819 $73,801 $855,153 $207,157 OTHER FINANCING SOURCES/USES Transfer Among Funds (Net) $0 ($1,500,000) ($1,500,000) ($1,500,000) ($1,500,000) ($1,500,000) Sale of Bonds $0 $0 $0 $0 $0 $0 Other Financing Sources $0 $0 $0 $0 $0 $0 Other Financing Uses $0 $0 $0 $0 $0 $0 TOTAL OTHER FIN. SOURCES/USES $0 ($1,500,000) ($1,500,000) ($1,500,000) ($1,500,000) ($1,500,000) SURPLUS / DEFICIT INCL. OTHER FIN. SOURCES $1,116,592 $1,006,209 ($403,181) ($1,426,199) ($644,847) ($1,292,843) BEGINNING FUND BALANCE $21,707,715 $22,824,307 $23,830,516 $23,427,335 $22,001,136 $21,356,289 PROJECTED YEAR END BALANCE $22,824,307 $23,830,516 $23,427,335 $22,001,136 $21,356,289 $20,063,446 FUND BALANCE AS % OF EXPENDITURES 38.27% 40.86% 38.83% 35.03% 33.26% 30.20% FUND BALANCE AS # OF MONTHS OF EXPEND PMA Financial Network, Inc. Page: 7

41 Educational Fund - Projection Summary REVENUES VS EXPENDITURES FY SURPLUS / DEFICIT $70,000,000 $60,000,000 $3,000,000 $2,500,000 $2,506,209 $50,000,000 $40,000,000 $30,000,000 $20,000,000 $2,000,000 $1,500,000 $1,000,000 $1,116,592 $1,096,819 $855,153 $10,000,000 $0 FY 2014 FY 2015 FY 2016 FY 2017 FY 2018 FY 2019 $500,000 $0 $207,157 $73,801 FY 2014 FY 2015 FY 2016 FY 2017 FY 2018 FY 2019 Revenues Expenditures OTHER FINANCING SOURCES & USES YEAR END FUND BALANCE (MILLIONS) $0 ($200,000) ($400,000) ($600,000) ($800,000) ($1,000,000) ($1,200,000) ($1,400,000) $0 $25.0 $24.0 $23.0 $22.0 $21.0 $20.0 $19.0 $22.8 $23.8 $23.4 $22.0 $21.4 $20.1 ($1,600,000) ($1,500,000) ($1,500,000) ($1,500,000) ($1,500,000) ($1,500,000) FY 2014 FY 2015 FY 2016 FY 2017 FY 2018 FY 2019 $18.0 FY 2014 FY 2015 FY 2016 FY 2017 FY 2018 FY PMA Financial Network, Inc. Page: 8

42 Operations and Maintenance Fund - Expenditure Analysis BUDGET EXPENDITURE PROJECTIONS FY 2014 FY 2015 % chg FY 2016 % chg FY 2017 % chg FY 2018 % chg FY 2019 % chg Salaries $4,819,505 $4,920, % $5,023, % $5,128, % $5,236, % $5,346, % Benefits $1,240,134 $1,366, % $1,505, % $1,656, % $1,828, % $2,013, % TOTAL SALARIES & BENEFITS $6,059,639 $6,287, % $6,528, % $6,785, % $7,065, % $7,359, % Purchased Services $737,119 $1,100, % $1,126, % $1,153, % $1,181, % $1,209, % Supplies And Materials $1,985,793 $1,400, % $1,433, % $1,468, % $1,503, % $1,539, % Capital Outlay $426,559 $1,200, % $1,200, % $500, % $500, % $500, % Other Objects $411,000 $420, % $430, % $441, % $451, % $462, % Non-Capitalized Equipment $14,323 $14, % $14, % $14, % $14, % $14, % Termination Benefits $0 $0 $0 $0 $0 $0 Provision For Contingencies $0 $0 $0 $0 $0 $0 TOTAL ALL OTHER $3,574,794 $4,135, % $4,205, % $3,577, % $3,650, % $3,725, % TOTAL EXPENDITURES $9,634,433 $10,422, % $10,734, % $10,362, % $10,715, % $11,085, % FY 2014 EXPENDITURES BY OBJECT EXPENDITURE PROJECTION (MILLIONS) Supplies And Materials 20.6% Capital Outlay 4.4% Non-Capitalized Equipment 0.1% $12.0 $10.0 $8.0 $9.6 $10.4 $10.7 $10.4 $10.7 $11.1 Purchased Services 7.7% $6.0 Benefits 12.9% Salaries 50.0% $4.0 $2.0 $0.0 FY 2014 FY 2015 FY 2016 FY 2017 FY 2018 FY PMA Financial Network, Inc. Page: 10

43 BUDGET Operations and Maintenance Fund - Projection Summary REVENUE / EXPENDITURE PROJECTIONS FY 2014 FY 2015 % chg FY 2016 % chg FY 2017 % chg FY 2018 % chg FY 2019 % chg REVENUE Local $8,209,329 $8,378, % $8,516, % $8,519, % $8,672, % $8,573, % State $1,800,000 $2,300, % $2,300, % $1,756, % $1,756, % $1,756, % Federal $0 $0 $0 $0 $0 $0 Other $0 $0 $0 $0 $0 $0 TOTAL REVENUE $10,009,329 $10,678, % $10,816, % $10,275, % $10,428, % $10,329, % EXPENDITURES Salary and Benefit Costs $6,059,639 $6,287, % $6,528, % $6,785, % $7,065, % $7,359, % Other $3,574,794 $4,135, % $4,205, % $3,577, % $3,650, % $3,725, % TOTAL EXPENDITURES $9,634,433 $10,422, % $10,734, % $10,362, % $10,715, % $11,085, % SURPLUS / DEFICIT $374,896 $255,734 $82,596 ($87,463) ($286,845) ($756,299) OTHER FINANCING SOURCES/USES Transfer Among Funds (Net) $0 $0 $0 $0 $0 $0 Sale of Bonds $0 $0 $0 $0 $0 $0 Other Financing Sources $0 $0 $0 $0 $0 $0 Other Financing Uses ($500,000) $0 $0 $0 $0 $0 TOTAL OTHER FIN. SOURCES/USES ($500,000) $0 $0 $0 $0 $0 SURPLUS / DEFICIT INCL. OTHER FIN. SOURCES ($125,104) $255,734 $82,596 ($87,463) ($286,845) ($756,299) BEGINNING FUND BALANCE $1,588,169 $1,463,065 $1,718,799 $1,801,395 $1,713,932 $1,427,087 PROJECTED YEAR END BALANCE $1,463,065 $1,718,799 $1,801,395 $1,713,932 $1,427,087 $670,789 FUND BALANCE AS % OF EXPENDITURES 15.19% 16.49% 16.78% 16.54% 13.32% 6.05% FUND BALANCE AS # OF MONTHS OF EXPEND PMA Financial Network, Inc. Page: 11

44 Operations and Maintenance Fund - Projection Summary REVENUES VS. EXPENDITURES FY SURPLUS / DEFICIT $12,000,000 $10,000,000 $8,000,000 $600,000 $400,000 $200,000 $0 $374,896 $255,734 $82,596 $6,000,000 ($200,000) ($87,463) $4,000,000 ($400,000) ($286,845) $2,000,000 $0 FY 2014 FY 2015 FY 2016 FY 2017 FY 2018 FY 2019 ($600,000) ($800,000) ($1,000,000) ($756,299) FY 2014 FY 2015 FY 2016 FY 2017 FY 2018 FY 2019 Revenues Expenditures OTHER FINANCING SOURCES & USES YEAR END FUND BALANCE (THOUSANDS) $0 ($100,000) ($200,000) ($300,000) ($400,000) ($500,000) ($600,000) ($500,000) $0 $0 $0 $0 $0 FY 2014 FY 2015 FY 2016 FY 2017 FY 2018 FY 2019 $2,000.0 $1,800.0 $1,600.0 $1,400.0 $1,200.0 $1,000.0 $800.0 $600.0 $400.0 $200.0 $0.0 $1,718.8 $1,801.4 $1,713.9 $1,463.1 $1,427.1 $670.8 FY 2014 FY 2015 FY 2016 FY 2017 FY 2018 FY PMA Financial Network, Inc. Page: 12

45 BUDGET Transportation Fund - Expenditure Analysis EXPENDITURE PROJECTIONS FY 2014 FY 2015 % chg FY 2016 % chg FY 2017 % chg FY 2018 % chg FY 2019 % chg Salaries $100,000 $102, % $104, % $106, % $108, % $110, % Benefits $0 $0 $0 $0 $0 $0 TOTAL SALARIES & BENEFITS $100,000 $102, % $104, % $106, % $108, % $110, % Purchased Services $2,715,386 $2,500, % $2,550, % $2,601, % $2,653, % $2,706, % Supplies And Materials $28,187 $28, % $29, % $30, % $30, % $31, % Capital Outlay $0 $0 $0 $0 $0 $0 Other Objects $870,000 $500, % $510, % $520, % $530, % $541, % Non-Capitalized Equipment $0 $0 $0 $0 $0 $0 Termination Benefits $0 $0 $0 $0 $0 $0 Provision For Contingencies $0 $0 $0 $0 $0 $0 TOTAL ALL OTHER $3,613,573 $3,028, % $3,089, % $3,151, % $3,214, % $3,279, % TOTAL EXPENDITURES $3,713,573 $3,130, % $3,193, % $3,257, % $3,322, % $3,389, % FY 2014 EXPENDITURES BY OBJECT EXPENDITURE PROJECTION (MILLIONS) Supplies And Materials 0.8% Other Objects 23.4% Salaries 2.7% $4.0 $3.5 $3.0 $2.5 $2.0 $3.7 $3.1 $3.2 $3.3 $3.3 $3.4 $1.5 $1.0 $0.5 Purchased Services 73.1% $0.0 FY 2014 FY 2015 FY 2016 FY 2017 FY 2018 FY PMA Financial Network, Inc. Page: 16

46 BUDGET Transportation Fund - Projection Summary REVENUE / EXPENDITURE PROJECTIONS FY 2014 FY 2015 % chg FY 2016 % chg FY 2017 % chg FY 2018 % chg FY 2019 % chg REVENUE Local $2,434,071 $1,100, % $915, % $918, % $931, % $915, % State $2,313,844 $1,533, % $1,293, % $1,319, % $1,345, % $1,372, % Federal $0 $0 $0 $0 $0 $0 Other $0 $0 $0 $0 $0 $0 TOTAL REVENUE $4,747,915 $2,634, % $2,208, % $2,237, % $2,277, % $2,287, % EXPENDITURES Salary and Benefit Costs $100,000 $102, % $104, % $106, % $108, % $110, % Other $3,613,573 $3,028, % $3,089, % $3,151, % $3,214, % $3,279, % TOTAL EXPENDITURES $3,713,573 $3,130, % $3,193, % $3,257, % $3,322, % $3,389, % SURPLUS / DEFICIT $1,034,342 ($496,358) ($984,963) ($1,020,386) ($1,045,551) ($1,101,969) OTHER FINANCING SOURCES/USES Transfer Among Funds (Net) $0 $0 $0 $0 $0 $0 Sale of Bonds $0 $0 $0 $0 $0 $0 Other Financing Sources $0 $0 $0 $0 $0 $0 Other Financing Uses $0 $0 $0 $0 $0 $0 TOTAL OTHER FIN. SOURCES/USES $0 $0 $0 $0 $0 $0 SURPLUS / DEFICIT INCL. OTHER FIN. SOURCES $1,034,342 ($496,358) ($984,963) ($1,020,386) ($1,045,551) ($1,101,969) BEGINNING FUND BALANCE $4,503,676 $5,538,018 $5,041,660 $4,056,697 $3,036,311 $1,990,760 PROJECTED YEAR END BALANCE $5,538,018 $5,041,660 $4,056,697 $3,036,311 $1,990,760 $888,791 FUND BALANCE AS % OF EXPENDITURES % % % 93.21% 59.91% 26.22% FUND BALANCE AS # OF MONTHS OF EXPEND PMA Financial Network, Inc. Page: 17

47 Transportation Fund - Projection Summary REVENUES VS. EXPENDITURES FY SURPLUS / DEFICIT $5,000,000 $4,500,000 $4,000,000 $3,500,000 $1,500,000 $1,000,000 $1,034,342 $3,000,000 $2,500,000 $2,000,000 $500,000 $0 $1,500,000 $1,000,000 $500,000 ($500,000) ($1,000,000) ($496,358) $0 FY 2014 FY 2015 FY 2016 FY 2017 FY 2018 FY 2019 Revenues Expenditures ($1,500,000) ($984,963) ($1,020,386) ($1,045,551) ($1,101,969) FY 2014 FY 2015 FY 2016 FY 2017 FY 2018 FY 2019 OTHER FINANCING SOURCES & USES YEAR END FUND BALANCE (THOUSANDS) $1.0 $0.9 $0.8 $0.7 $0.6 $0.5 $0.4 $0.3 $0.2 $0.1 $0.0 $0 $0 $0 $0 $0 $0 FY 2014 FY 2015 FY 2016 FY 2017 FY 2018 FY 2019 $6,000 $5,000 $4,000 $3,000 $2,000 $1,000 $0 $5,538.0 $5,041.7 $4,056.7 $3,036.3 $1,990.8 $888.8 FY 2014 FY 2015 FY 2016 FY 2017 FY 2018 FY PMA Financial Network, Inc. Page: 18

48 Municipal Retirement/Social Security Fund - Projection Summary BUDGET REVENUE / EXPENDITURE PROJECTIONS FY 2014 FY 2015 % chg FY 2016 % chg FY 2017 % chg FY 2018 % chg FY 2019 % chg REVENUE Local $2,634,594 $2,372, % $2,270, % $2,270, % $2,410, % $2,397, % State $0 $0 $0 $0 $0 $0 Federal $0 $0 $0 $0 $0 $0 Other $0 $0 $0 $0 $0 $0 TOTAL REVENUE $2,634,594 $2,372, % $2,270, % $2,270, % $2,410, % $2,397, % EXPENDITURES Salary and Benefit Costs $2,641,042 $2,510, % $2,519, % $2,630, % $2,687, % $2,747, % Other $0 $0 $0 $0 $0 $0 TOTAL EXPENDITURES $2,641,042 $2,510, % $2,519, % $2,630, % $2,687, % $2,747, % SURPLUS / DEFICIT ($6,448) ($137,921) ($249,608) ($359,196) ($276,911) ($350,132) OTHER FINANCING SOURCES/USES Transfer Among Funds (Net) $0 $0 $0 $0 $0 $0 Sale of Bonds $0 $0 $0 $0 $0 $0 Other Financing Sources $0 $0 $0 $0 $0 $0 Other Financing Uses $0 $0 $0 $0 $0 $0 TOTAL OTHER FIN. SOURCES/USES $0 $0 $0 $0 $0 $0 SURPLUS / DEFICIT INCL. OTHER FIN. SOURCES ($6,448) ($137,921) ($249,608) ($359,196) ($276,911) ($350,132) BEGINNING FUND BALANCE $1,838,977 $1,832,529 $1,694,608 $1,445,000 $1,085,804 $808,893 PROJECTED YEAR END BALANCE $1,832,529 $1,694,608 $1,445,000 $1,085,804 $808,893 $458,761 FUND BALANCE AS % OF EXPENDITURES 69.39% 67.51% 57.35% 41.28% 30.10% 16.69% FUND BALANCE AS # OF MONTHS OF EXPEND PMA Financial Network, Inc. Page: 19

49 Municipal Retirement/Social Security Fund - Projection Summary REVENUES VS. EXPENDITURES FY SURPLUS / DEFICIT $3,000,000 $2,500,000 $2,000,000 $1,500,000 $0 ($50,000) ($100,000) ($150,000) ($200,000) ($6,448) ($137,921) $1,000,000 $500,000 $0 FY 2014 FY 2015 FY 2016 FY 2017 FY 2018 FY 2019 ($250,000) ($300,000) ($350,000) ($400,000) ($249,608) ($276,911) ($359,196) ($350,132) FY 2014 FY 2015 FY 2016 FY 2017 FY 2018 FY 2019 Revenues Expenditures OTHER FINANCING SOURCES & USES YEAR END FUND BALANCE (THOUSANDS) $1.0 $0.9 $0.8 $0.7 $0.6 $0.5 $0.4 $0.3 $0.2 $0.1 $0.0 $0 $0 $0 $0 $0 $0 FY 2014 FY 2015 FY 2016 FY 2017 FY 2018 FY 2019 $2,000 $1,800 $1,600 $1,400 $1,200 $1,000 $800 $600 $400 $200 $0 $1,832.5 $1,694.6 $1,445.0 $1,085.8 $808.9 $458.8 FY 2014 FY 2015 FY 2016 FY 2017 FY 2018 FY PMA Financial Network, Inc. Page: 20

50 BUDGET Working Cash Fund - Projection Summary REVENUE / EXPENDITURE PROJECTIONS FY 2014 FY 2015 % chg FY 2016 % chg FY 2017 % chg FY 2018 % chg FY 2019 % chg REVENUE Local $29,493 $17, % $24, % $30, % $35, % $40, % State $0 $0 $0 $0 $0 $0 Federal $0 $0 $0 $0 $0 $0 Other $0 $0 $0 $0 $0 $0 TOTAL REVENUE $29,493 $17, % $24, % $30, % $35, % $40, % OTHER FIN. SOURCES/USES Transfer Among Funds (Net) $0 $0 $0 $0 $0 $0 Sale of Bonds $0 $0 $0 $0 $0 $0 Other Financing Sources $0 $0 $0 $0 $0 $0 Other Financing Uses $0 $0 $0 $0 $0 $0 TOTAL OTHER FIN. SOURCES/USES $0 $0 $0 $0 $0 $0 BEGINNING FUND BALANCE $3,039,943 $3,069,436 $3,086,552 $3,110,801 $3,141,380 $3,177,359 PROJECTED YEAR END BALANCE $3,069,436 $3,086,552 $3,110,801 $3,141,380 $3,177,359 $3,217, PMA Financial Network, Inc. Page: 23

51 Working Cash Fund - Projection Summary TOTAL REVENUE (IN THOUSANDS) $45 $40 $35 $30 $25 $20 $15 $10 $5 $0 $40.23 $35.98 $29.49 $30.58 $24.25 $17.12 FY 2014 FY 2015 FY 2016 FY 2017 FY 2018 FY 2019 OTHER FINANCING SOURCES & USES YEAR END FUND BALANCE (MILLIONS) $1.0 $0.9 $0.8 $0.7 $0.6 $0.5 $0.4 $0.3 $0.2 $0.1 $0.0 $0 $0 $0 $0 $0 $0 FY 2014 FY 2015 FY 2016 FY 2017 FY 2018 FY 2019 $3.5 $3.0 $2.5 $2.0 $1.5 $1.0 $0.5 $0.0 $3.1 $3.1 $3.1 $3.1 $3.2 $3.2 FY 2014 FY 2015 FY 2016 FY 2017 FY 2018 FY PMA Financial Network, Inc. Page: 24

52 BUDGET Tort Fund - Projection Summary REVENUE / EXPENDITURE PROJECTIONS FY 2014 FY 2015 % chg FY 2016 % chg FY 2017 % chg FY 2018 % chg FY 2019 % chg REVENUE Local $10,493 $10, % $10, % $11, % $11, % $11, % State $0 $0 $0 $0 $0 $0 Federal $0 $0 $0 $0 $0 $0 Other $0 $0 $0 $0 $0 $0 TOTAL REVENUE $10,493 $10, % $10, % $11, % $11, % $11, % EXPENDITURES Salary and Benefit Costs $0 $0 $0 $0 $0 $0 Other $0 $0 $0 $0 $0 $0 TOTAL EXPENDITURES $0 $0 $0 $0 $0 $0 SURPLUS / DEFICIT $10,493 $10,287 $10,687 $11,122 $11,701 $11,957 OTHER FINANCING SOURCES/USES Transfer Among Funds (Net) $0 $0 $0 $0 $0 $0 Sale of Bonds $0 $0 $0 $0 $0 $0 Other Financing Sources $0 $0 $0 $0 $0 $0 Other Financing Uses $0 $0 $0 $0 $0 $0 TOTAL OTHER FIN. SOURCES/USES $0 $0 $0 $0 $0 $0 SURPLUS / DEFICIT INCL. OTHER FIN. SOURCES $10,493 $10,287 $10,687 $11,122 $11,701 $11,957 BEGINNING FUND BALANCE $157,761 $168,254 $178,541 $189,228 $200,350 $212,050 PROJECTED YEAR END BALANCE $168,254 $178,541 $189,228 $200,350 $212,050 $224,007 FUND BALANCE AS % OF EXPENDITURES #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! FUND BALANCE AS # OF MONTHS OF EXPEND. #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! 2012 PMA Financial Network, Inc. Page: 25

53 Tort Fund - Projection Analysis REVENUES VS. EXPENDITURES FY SURPLUS / DEFICIT $14,000.0 $12,500.0 $12,000.0 $12,000.0 $11,701 $11,957 $10,000.0 $8,000.0 $6,000.0 $11,500.0 $11,000.0 $10,500.0 $10,493 $10,287 $10,687 $11,122 $4,000.0 $10,000.0 $2,000.0 $9,500.0 $0.0 FY 2014 FY 2015 FY 2016 FY 2017 FY 2018 FY 2019 $9,000.0 FY 2014 FY 2015 FY 2016 FY 2017 FY 2018 FY 2019 Revenues Expenditures OTHER FINANCING SOURCES & USES YEAR END FUND BALANCE (THOUSANDS) $1.0 $0.9 $0.8 $0.7 $0.6 $0.5 $0.4 $0.3 $0.2 $0.1 $0.0 $0 $0 $0 $0 $0 $0 FY 2014 FY 2015 FY 2016 FY 2017 FY 2018 FY 2019 $250.0 $200.0 $150.0 $100.0 $50.0 $0.0 $224.0 $212.1 $200.3 $189.2 $178.5 $168.3 FY 2014 FY 2015 FY 2016 FY 2017 FY 2018 FY PMA Financial Network, Inc. Page: 26

54 Section 4 Capital Improvement Tables Grant Funded Lighting Improvement Projects

55 Capital Project Fund - Projection Summary BUDGET REVENUE / EXPENDITURE PROJECTIONS FY 2014 FY 2015 % chg FY 2016 % chg FY 2017 % chg FY 2018 % chg FY 2019 % chg REVENUE Local $1,600 $ % $0 $0 $0 $0 State $0 $0 $0 $0 $0 $0 Federal $0 $0 $0 $0 $0 $0 Other $0 $0 $0 $0 $0 $0 TOTAL REVENUE $1,600 $ % $0 $0 $0 $0 EXPENDITURES Salary and Benefit Costs $0 $0 $0 $0 $0 $0 Other $2,250,000 $3,037, % $2,000, % $2,000, % $2,000, % $2,000, % TOTAL EXPENDITURES $2,250,000 $3,037, % $2,000, % $2,000, % $2,000, % $2,000, % SURPLUS / DEFICIT ($2,248,400) ($3,037,500) ($2,000,000) ($2,000,000) ($2,000,000) ($2,000,000) OTHER FINANCING SOURCES/USES Transfer Among Funds (Net) $0 $0 $0 $0 $0 $0 Sale of Bonds $1,411,850 $0 $0 $0 $0 $0 Other Financing Sources $500,000 $0 $0 $0 $0 $0 Other Financing Uses $0 $0 $0 $0 $0 $0 TOTAL OTHER FIN. SOURCES/USES $1,911,850 $0 $0 $0 $0 $0 SURPLUS / DEFICIT INCL. OTHER FIN. SOURCES ($336,550) ($3,037,500) ($2,000,000) ($2,000,000) ($2,000,000) ($2,000,000) BEGINNING FUND BALANCE $1,600,423 $1,263,873 ($1,773,627) ($3,773,627) ($5,773,627) ($7,773,627) PROJECTED YEAR END BALANCE $1,263,873 ($1,773,627) ($3,773,627) ($5,773,627) ($7,773,627) ($9,773,627) FUND BALANCE AS % OF EXPENDITURES 56.17% % % % % % FUND BALANCE AS # OF MONTHS OF EXPEND (7.01) (22.64) (34.64) (46.64) (58.64) 2012 PMA Financial Network, Inc. Page: 21

56 Capital Project Fund - Projection Analysis REVENUES VS. EXPENDITURES FY SURPLUS / DEFICIT $3,500,000 $0 $3,000,000 ($500,000) $2,500,000 ($1,000,000) $2,000,000 ($1,500,000) $1,500,000 $1,000,000 ($2,000,000) ($2,500,000) ($2,248,400) ($2,000,000) ($2,000,000) ($2,000,000) ($2,000,000) $500,000 $0 FY 2014 FY 2015 FY 2016 FY 2017 FY 2018 FY 2019 ($3,000,000) ($3,500,000) ($3,037,500) FY 2014 FY 2015 FY 2016 FY 2017 FY 2018 FY 2019 Revenues Expenditures OTHER FINANCING SOURCES & USES YEAR END FUND BALANCE (THOUSANDS) $2,500,000.0 $2,000.0 $1,263.9 $2,000,000.0 $1,500,000.0 $1,000,000.0 $500,000.0 $0.0 $1,911,850 $0 $0 $0 $0 $0 FY 2014 FY 2015 FY 2016 FY 2017 FY 2018 FY 2019 $0.0 ($2,000.0) ($4,000.0) ($6,000.0) ($8,000.0) ($10,000.0) ($12,000.0) ($1,773.6) ($3,773.6) ($5,773.6) ($7,773.6) ($9,773.6) FY 2014 FY 2015 FY 2016 FY 2017 FY 2018 FY PMA Financial Network, Inc. Page: 22

57 Fire Prevention and Safety Fund - Projection Summary BUDGET REVENUE / EXPENDITURE PROJECTIONS FY 2014 FY 2015 % chg FY 2016 % chg FY 2017 % chg FY 2018 % chg FY 2019 % chg REVENUE Local $190,246 $183, % $183, % $183, % $185, % $183, % State $0 $0 $0 $0 $0 $0 Federal $0 $0 $0 $0 $0 $0 Other $0 $0 $0 $0 $0 $0 TOTAL REVENUE $190,246 $183, % $183, % $183, % $185, % $183, % EXPENDITURES Salary and Benefit Costs $0 $0 $0 $0 $0 $0 Other $175,000 $275, % $275, % $275, % $275, % $275, % TOTAL EXPENDITURES $175,000 $275, % $275, % $275, % $275, % $275, % SURPLUS / DEFICIT $15,246 ($91,350) ($91,777) ($91,847) ($89,004) ($91,603) OTHER FINANCING SOURCES/USES Transfer Among Funds (Net) $0 $0 $0 $0 $0 $0 Sale of Bonds $0 $0 $0 $0 $0 $0 Other Financing Sources $0 $0 $0 $0 $0 $0 Other Financing Uses $0 $0 $0 $0 $0 $0 TOTAL OTHER FIN. SOURCES/USES $0 $0 $0 $0 $0 $0 SURPLUS / DEFICIT INCL. OTHER FIN. SOURCES $15,246 ($91,350) ($91,777) ($91,847) ($89,004) ($91,603) BEGINNING FUND BALANCE $493,634 $508,880 $417,530 $325,754 $233,907 $144,903 PROJECTED YEAR END BALANCE $508,880 $417,530 $325,754 $233,907 $144,903 $53,300 FUND BALANCE AS % OF EXPENDITURES % % % 85.06% 52.69% 19.38% FUND BALANCE AS # OF MONTHS OF EXPEND PMA Financial Network, Inc. Page: 27

58 Fire Prevention and Safety Fund - Projection Analysis REVENUES VS. EXPENDITURES FY SURPLUS / DEFICIT $300,000 $40,000 $250,000 $20,000 $15,246 $200,000 $0 $150,000 ($20,000) $100,000 $50,000 ($40,000) ($60,000) ($80,000) $0 FY 2014 FY 2015 FY 2016 FY 2017 FY 2018 FY 2019 ($100,000) ($91,350) ($91,777) ($91,847) ($89,004) ($91,603) FY 2014 FY 2015 FY 2016 FY 2017 FY 2018 FY 2019 Revenues Expenditures OTHER FINANCING SOURCES & USES YEAR END FUND BALANCE (THOUSANDS) $1.0 $0.9 $0.8 $0.7 $0.6 $0.5 $0.4 $0.3 $0.2 $0.1 $0.0 $0 $0 $0 $0 $0 $0 FY 2014 FY 2015 FY 2016 FY 2017 FY 2018 FY 2019 $600.0 $500.0 $400.0 $300.0 $200.0 $100.0 $0.0 $508.9 $417.5 $325.8 $233.9 $144.9 $53.3 FY 2014 FY 2015 FY 2016 FY 2017 FY 2018 FY PMA Financial Network, Inc. Page: 28

59 Phase and Scope Summary OWNER Proviso Township High School District 209 PROJECT TITLE 10 Year Life Safety and Capital Improvememnts PROJECT NO BD DATE January 27, 2014 Completed Balance of Life Total Projects Safety YEAR Balance of Life Safety LIFE SAFETY Proviso East High School $118,250 $1,557,202 $1,165,774 $2,053,475 $1,056,472 $5,951,173 $1,772,593 $4,178,580 $0 $0 Proviso West High School $155,874 $2,043,328 $1,777,416 $3,025,159 $2,365,000 $9,366,777 $1,567,454 $7,799,323 $0 $0 Proviso Math and Science Academy $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 TOTAL LIFE SAFETY $274,124 $3,600,530 $2,943,190 $5,078,634 $3,421,472 $15,317,950 $3,340,047 $11,977,903 $0 $11,977,903 Completed Balance of Total Projects Capital Improv YEAR Balance of Capital Improv CAPITAL IMPROVEMENTS Proviso East High School $946,000 $768,625 $773,988 $289,713 $2,124,550 $4,902,876 $761,189 $4,141,687 $17,963,358 $17,963,358 Proviso West High School $709,500 $963,797 $1,667,050 $932,845 $59,125 $4,332,317 $397,799 $3,934,518 $11,551,843 $11,551,843 Proviso Math and Science Academy $407,963 $674,025 $107,800 $41,388 $41,388 $1,272,564 $312,406 $960,158 $1,564,800 $1,564,800 TOTAL CAPITAL IMPROVEMENTS $2,063,463 $2,406,447 $2,548,838 $1,263,946 $2,225,063 $10,507,757 $1,471,394 $9,036,363 $31,080,001 $40,116,364 TOTAL PROJECT COST $25,825,707 $4,811,441 $21,014,266 $31,080,001 $52,094,267 Last Updated: 1/27/2014 Page 1 of 13

60 Phase and Scope of Work - Proviso West HS OWNER Proviso Township High School District 209 PROJECT TITLE Life Safety and Capital Improvements PROJECT NO BD DATE February 20, 2014 ITEM DESCRIPTION LIFE SAFETY CAPITAL IMPROVMENTS COMMENTS Year Proviso West HS 1. Parking Lot Repair 2. Masonry Tuckpointing 3. Roof Replacement $300, Doors & Windows $50, Floors, Walls & Ceilings Elevator Upgrades Plumbing Upgrade Mechanical Upgrades $81,817 $268, Electrical Upgrades 10. Misc Life Safety items not listed above 11. Misc Capitol Improvements not listed above 12. Toilet Room Upgrades 13 Other Project Costs $0 $0 Sub-total for Year 1 $131,817 $568, Bidding Contingency 10.00% $0 $0 2. Architect/Engineering Fees 8.00% $10,545 $45,440 Year 1 Project Totals $142,362 $613,440 Life Safety + Capital Improvements PW Totals $755,803 Year Proviso West HS 1. Parking Lot Repair - Lot Facility $9,052 $210, Masonry Tuckpointing $17, Roof Replacement _ FieldHouse Metal Repair $150, Doors & Windows 5. Floors, Walls & Ceilings $46, Elevator Upgrades Plumbing Upgrade $39, Mechanical Upgrades Electrical Upgrades $131, Misc Life Safety items not listed above $100, Misc Capitol Improvements not listed above /24/14 3:21 PM 1 of 4 $0 $0

61 ITEM DESCRIPTION LIFE SAFETY CAPITAL IMPROVMENTS COMMENTS Other Project Costs Sub-total for Year 2 $343,779 $360, Bidding Contingency 10.00% $0 $0 2. Architect/Engineering Fees 8.00% $27,502 $28,800 Year 2 Project Totals $371,281 $388,800 Life Safety + Capital Improvements PW Totals $760,082 Year Proviso West HS 1. Parking Lot Repair 2. Masonry Tuckpointing 3. Roof Replacement 4. Doors & Windows 5. Floors, Walls & Ceilings 6. Elevator Upgrades 7. Plumbing Upgrade 8. Mechanical Upgrades 9. Electrical Upgrades 10 Misc Life Safety items not listed above - 10 Year Life Safety List $1,800, Misc Capitol Improvements not listed above 12 Environmental, Flooring Abatement 13 Other Project Costs $0 $0 Sub-total for Year 3 $1,800,000 $0 1. Bidding Contingency 10.00% $0 $0 2. Architect/Engineering Fees 8.00% $144,000 $0 Year 3 Project Totals $1,944,000 $0 Life Safety + Capital Improvements PW Totals $1,944,000 Year Proviso West HS 1. Parking Lot Repair 2. Masonry Tuckpointing Roof Replacement Doors & Windows $1,000, Floors, Walls & Ceilings Elevator Upgrades Plumbing Upgrade 8. Mechanical Upgrades $511, Electrical Upgrades 10 Misc Life Safety items not listed above $85, Misc Capitol Improvements not listed above 12 Environmental, Flooring Abatement 13 Toilet Room Upgrades $184,189 2/24/14 3:21 PM 2 of 4

62 ITEM DESCRIPTION LIFE SAFETY CAPITAL IMPROVMENTS COMMENTS Other Project Costs $0 $0 Sub-total for Year 4 $1,270,056 $511, Bidding Contingency 10.00% $0 $0 2. Architect/Engineering Fees 8.00% $101,604 $40,900 Year 4 Project Totals $1,371,661 $552,150 Life Safety + Capital Improvements PW Totals $1,923,811 Year Proviso West HS 1. Parking Lot Repair 2. Masonry Tuckpointing Roof Replacement Doors & Windows $500, Floors, Walls & Ceilings Elevator Upgrades Plumbing Upgrade 8. Mechanical Upgrades $200, Electrical Upgrades 10 Misc Life Safety items not listed above 11 Misc Capitol Improvements not listed above 12 Environmental, Flooring Abatement 13 $0 $0 Sub-total for Year 5 $500,000 $200,000 Other Project Costs 1. Bidding Contingency 10.00% $0 $0 2 Architect/Engineering Fees 8.00% $40,000 $16,000 Year 5 Project Totals $540,000 $216,000 Life Safety + Capital Improvements PW Totals $756,000 Year Additional Capital Improvements Proviso West HS 1. Upgrade kitchen and Café $1,000, Replace switchgear and upgrade panels $500, Upgrade electric vault $250, Environmental, Flooring Abatement $3,667, Doors and Windows $2,000, Upgrade mechanical equipment controls to DCD $1,000, Upgrade entire public address system and sound systems in building $1,800, Provide air conditioning in gym and fieldhouse $1,000, Replace parking lots - Lots C and D $800,000 2/24/14 3:21 PM 3 of 4

63 ITEM DESCRIPTION LIFE SAFETY CAPITAL IMPROVMENTS COMMENTS 10. Misc Tuckpointing $250, Misc Plumbing Upgrades $850, Provide drainage and regrade atheltic playing fields $350, Finish outdoor track $393, Replace damaged fencing $66, Additional Roofing $500, Regrade for proper drainage $10, Concrete sidewalk repairs $50, Upgrade sump pumps $100,000 Other Project Costs $0 $0 Sub-total for Year 5 $5,667,233 $8,919, Bidding Contingency 10.00% $0 $0 2. Architect/Engineering Fees 8.00% $453,379 $713,520 Year 5 Project Totals $6,120,612 $9,632,520 Five YearLife Safety + Capital Improvements PW Totals $15,753,132 Ten YearLife Safety + Capital Improvements PW Totals Ten Year Grand Total Life Safety + Capital Improvements $10,489,916 $11,402,911 $21,892,827 2/24/14 3:21 PM 4 of 4

64 Phase and Scope of Work - Proviso East HS OWNER Proviso Township High School District 209 PROJECT TITLE Life Safety and Capital Improvements DATE February 20, 2014 ITEM DESCRIPTION LIFE SAFETY Year Proviso East HS 1. Parking Lot Repair CAPITAL IMPROVMENTS 2. Masonry Tuckpointing $100, Roof Replacement $500, Doors & Windows 5. Floors, Walls & Ceilings 6. Underground Storm Sewer Flooding Repair $250, Plumbing Upgrade 8. Mechanical Upgrades $60, Electrical Upgrades 10. Misc Life Safety items not listed above 10 Year Life Safety List $875, Misc Capitol Improvements not listed above 12. Feildhouse Ceiling and Lighting $432,400 Bid in COMMENTS Other Project Costs $0 $0 Sub-total for Year 1 $1,467,400 $750, Bidding Contingency 10.00% $0 $0 14. Architect/Engineering Fees 8.00% $117,392 $60,000 Year 1 Project Totals $1,584,792 $810,000 Life Safety + Capital Improvements PE totals $2,394,792 Year Proviso East HS 1. Parking Lot Repair - 2. Masonry Tuckpointing $100, Roof Replacement $600, Doors & Windows 5. Floors, Walls & Ceilings Elevator Upgrades Plumbing Upgrade Mechanical Upgrades Electrical Upgrades 10. Misc Life Safety items not listed above 11. Misc Capitol Improvements not listed above Other Project Costs 3:19 PM 2/24/14 1 of 4 $0 $0 Sub-total for Year 2 $100,000 $600, Bidding Contingency 10.00% $0 $0 14. Architect/Engineering Fees 8.00% $8,000 $48,000 Year 2 Project Totals $108,000 $648,000

65 Phase and Scope of Work - Proviso East HS OWNER Proviso Township High School District 209 PROJECT TITLE Life Safety and Capital Improvements DATE February 20, 2014 CAPITAL ITEM DESCRIPTION LIFE SAFETY IMPROVMENTS COMMENTS Life Safety + Capital Improvements PE totals $756,000 Year Proviso East HS 1. Parking Lot Repair - Courtyard $73, Masonry Tuckpointing - Clock Tower $537, Roof Replacement Doors & Windows $100, Floors, Walls & Ceilings - Band Room $79, Elevator Upgrades Plumbing Upgrade - Bathrooms and Misc $416, Mechanical Upgrades - Gym AHU Air Conditioning $450, Electrical Upgrades 10. Misc Life Safety items not listed above 11. Misc Capitol Improvements not listed above Other Project Costs $0 $0 Sub-total for Year 3 $1,656,265 $0 13. Bidding Contingency 10.00% $0 $0 14. Architect/Engineering Fees 8.00% $132,501 $0 Year 3 Project Totals $1,788,766 $0 Life Safety + Capital Improvements PE totals $1,788,766 Year Proviso East HS 1. Parking Lot Repair $200, Masonry Tuckpointing $200, Roof Replacement 4. Doors & Windows $335, Floors, Walls & Ceilings Elevator Upgrades Plumbing Upgrade Mechanical Upgrades $685, Electrical Upgrades 10. Misc Life Safety items not listed above $274, Misc Capitol Improvements not listed above 12. Bleachers Other Project Costs 3:19 PM 2/24/14 2 of 4 $0 $0 Sub-total for Year 4 $1,295,087 $400,000

66 Phase and Scope of Work - Proviso East HS OWNER Proviso Township High School District 209 PROJECT TITLE Life Safety and Capital Improvements DATE February 20, 2014 ITEM DESCRIPTION LIFE SAFETY CAPITAL IMPROVMENTS 14. Bidding Contingency 10.00% $0 $0 15. Architect/Engineering Fees 8.00% $103,607 $32,000 Year 4 Project Totals $1,398,694 $432,000 COMMENTS Life Safety + Capital Improvements PE totals $1,830,694 Year Provliso East HS 1. Parking Lot Repair 2. Masonry Tuckpointing Roof Replacement Doors & Windows $400, Floors, Walls & Ceilings Elevator Upgrades Plumbing Upgrade Mechanical Upgrades $315, Electrical Upgrades 10. Misc Life Safety items not listed above 11. Misc Capitol Improvements not listed above 12. Locker Rooms Other Project Costs $0 $0 Sub-total for Year 5 $715,535 $0 14. Bidding Contingency 10.00% $0 $0 15. Architect/Engineering Fees 8.00% $57,243 $0 Year 5 Project Totals $772,778 $0 Life Safety + Capital Improvements PE totals $772,778 Years Additional Capital Improvements - Proviso East HS 1. Resurface outdoor track $140, Replace damage fencing $66, Replace baseball bleachers $35, Mics Mechanical Upgrades $140, Upgrade Electric $1,000,000 $1,000, Provide Air Conditioning to Auditorium $375, Upgrade all equipment in kitchen $450, Upgrade all restrooms to include ADA accessibilty $1,000, Replace all parking lots $1,100, Replace fire hydrant $5, Replace exterior dinking fountian $5, Replace girls pool, make ADA accessibile $300,000 3:19 PM 2/24/14 3 of 4

67 Phase and Scope of Work - Proviso East HS OWNER Proviso Township High School District 209 PROJECT TITLE Life Safety and Capital Improvements DATE February 20, 2014 ITEM DESCRIPTION LIFE SAFETY CAPITAL IMPROVMENTS 13. Replace main line steam valve $25, Replace damaged exterior concrete walks $10, Replace visitor bleachers to football field $200, Replace all domestic Hot and Cold water lines in building $3,140, Upgrade Locker rooms $800, Provide irrigation system to football field $25, Upgrade air conditioning to main office $250, Library shelving and furniture upgrades $250, Upgrade all science labs $3,300, Upgrade home economics labs $750, Add wall mount fans to classrooms $150, Replace chalkboards with marker boards $300, Additional Tuckpointing $800,000 Other Project Costs $0 $0 Sub-total $1,000,000 $14,616, Bidding Contingency 10.00% $0 $0 2. Architect/Engineering Fees 8.00% $80,000 $1,169,280 Year 5 Project Totals $1,080,000 $15,785,280 COMMENTS Five Year Life Safety + Capital Improvements PE totals $16,865,280 Ten Year Life Safety + Capital Improvements PE totals $6,733,031 $17,675,281 Ten Year Grand Total Life Safety + Capital Improvements $24,408,311 3:19 PM 2/24/14 4 of 4

68 Phase and Scope of Work - PMSA OWNER Proviso Township High School District 209 PROJECT TITLE Life Safety and Capital Improvements PROJECT NO BD DATE February 20, 2014 ITEM DESCRIPTION Year PMSA LIFE SAFETY CAPITAL IMPROVMENTS 1. Parking Lot Repair 2. Penthouse EFIS repair $25, New Backup Generator $250, Upgrade VFD's for air handlers $90,000 Energy 5. Floors, Walls & Ceilings Elevator Upgrades Plumbing Upgrade Mechanical Upgrades Electrical Upgrades 10. Misc Life Safety items not listed above 11. Misc Capital Improvements not listed above COMMENTS Other Project Costs $0 $0 Sub-total for Year 1 $0 $365, Bidding Contingency 10.00% $0 $0 2. Architect/Engineering Fees 8.00% $0 $29,200 Year 1 Project Totals $0 $394,200 Life Safety + Capital Improvements PMSA $394,200 Year PMSA 1. Parking Lot Repair 2. Masonry Tuckpointing Roof Replacement Doors & Windows 5. Floors, Walls & Ceilings - Carpet, Stair Rubber, Tile $325, Elevator Upgrades Plumbing Upgrade Mechanical Upgrades Electrical Upgrades 10. Misc Life Safety items not listed above 11. Misc Capital Improvements not listed above 12 Other Project Costs $0 $0 Sub-total for Year 2 $0 $325, Bidding Contingency 10.00% $0 $0 2/24/14 3:23 PM 1 of 4

69 Phase and Scope of Work - PMSA OWNER Proviso Township High School District 209 PROJECT TITLE Life Safety and Capital Improvements PROJECT NO BD DATE February 20, 2014 ITEM DESCRIPTION LIFE CAPITAL SAFETY IMPROVMENTS 2. Architect/Engineering Fees 8.00% $0 $26,000 Year 2 Project Totals $0 $351,000 COMMENTS Life Safety + Capital Improvements PMSA $351,000 Year PMSA 1. Parking Lot Repair $650, Masonry Tuckpointing Roof Replacement Doors & Windows $16, Floors, Walls & Ceilings Elevator Upgrades Plumbing Upgrade $10,000 8 Mechanical Upgrades $150,000 9 Electrical Upgrades $82, Misc Life Safety items not listed above 11 Misc Capital Improvements not listed above $0 $0 Sub-total for Year 3 $0 $908,000 Other Project Costs 1 Bidding Contingency 10.00% $0 $0 2. Architect/Engineering Fees 8.00% $0 $72,640 Year 3 Project Totals $0 $980,640 Life Safety + Capital Improvements PMSA $980,640 Year PMSA 1. Parking Lot Repair $200, Masonry Tuckpointing Roof Replacement Doors & Windows 5. Floors, Walls & Ceilings Elevator Upgrades Plumbing Upgrade 8 Mechanical Upgrades $50,000 9 Electrical Upgrades 10 Misc Life Safety items not listed above 11 Misc Capital Improvements not listed above $35,000 2/24/14 3:23 PM 2 of 4

70 Phase and Scope of Work - PMSA OWNER Proviso Township High School District 209 PROJECT TITLE Life Safety and Capital Improvements PROJECT NO BD DATE February 20, 2014 ITEM DESCRIPTION LIFE SAFETY CAPITAL IMPROVMENTS COMMENTS $0 $0 Sub-total for Year 4 $0 $285,000 Other Project Costs 1 Bidding Contingency 10.00% $0 $0 2. Architect/Engineering Fees 8.00% $0 $22,800 Year 4 Project Totals $0 $307,800 Life Safety + Capital Improvements PMSA $307,800 Year PMSA 1. Parking Lot Repair 2. Masonry Tuckpointing Roof Replacement Doors & Windows 5. Floors, Walls & Ceilings 6. Elevator Upgrades 7 Plumbing Upgrade 8 Mechanical Upgrades $50,000 9 Electrical Upgrades 10 Misc Life Safety items not listed above 11. Misc Capital Improvements not listed above $50, $0 $0 Sub-total for Year 5 $0 $100,000 Other Project Costs 1. Bidding Contingency 10.00% $0 $0 2. Architect/Engineering Fees 8.00% $0 $8,000 Year 5 Project Totals $0 $108,000 Life Safety + Capital Improvements PMSA $108,000 Year 6-10 Addition Capital Improvements - PMSA 1. New burners for boilers Complete 2. Cooling tower curtains Complete 3. Balancing of cooling tower springs Complete 2/24/14 3:23 PM 3 of 4

71 Phase and Scope of Work - PMSA OWNER Proviso Township High School District 209 PROJECT TITLE Life Safety and Capital Improvements PROJECT NO BD DATE February 20, 2014 ITEM DESCRIPTION LIFE CAPITAL SAFETY IMPROVMENTS 4. New back-up generator Year 1 5. Carpet replacement Year 2 6. Upgrade VFD's for air handler fans Year 1 7. Replace stairwell rubber material Year 2 8. Change floor tile in classrooms Year 2 9. Upgrade fire pump Complete 10. Upgrade BAS system Now 11. Parking Lot upgrades Year 3 & COMMENTS $0 $0 Sub-total $0 $0 Other Project Costs 1 Bidding Contingency 10.00% $0 $0 2 Architect/Engineering Fees 8.00% $0 $0 Year 5 Project Totals $0 $0 Five Year Life Safety + Capital Improvements PMSA Ten Year Life Safety + Capital Improvements PMSA Ten Year Grand Total Life Safety + Capital Improvements PMSA $0 $1 $2,141,641 $2,141,641 2/24/14 3:23 PM 4 of 4

72 LIGHTING **SAVINGS INCLUDES ESTIMATED MAINTENANCE SAVINGS*** ISBE OUT OF ANNUAL PROJECT DESCRIPTION FY 14 $$VALUE DCEO FUNDING FUNDING POCKET SAVINGS R.O.I MATH & SCIENCE ACADEMY MULTIPURPOSE Complete $14, $9, $0.00 $5, $2, MATH & SCIENCE ACADEMY HVAC CONTROL 7/13-6/14 $75, $0.00 $0.00 $75, $18, EAST CAMPUS T12 REPLACEMENT 7/13-6/14 $100, $83, $0.00 $16, $31, WEST CAMPUS T12 REPLACEMENT 7/13-6/14 $20, $15, $0.00 $5, $10, WEST CAMPUS COMMUNITY ROOM Complete $5, $3, $0.00 $2, $ WEST CAMPUS EXTERIOR LIGHTING UPGRADE Complete $155, $125, $0.00 $30, $22, $370, $236, $0.00 $134, $85, PROJECT DESCRIPTION FY 15 $$VALUE DCEO FUNDING ISBE FUNDING OUT OF POCKET ANNUAL SAVINGS R.O.I MATH & SCIENCE ACADEMY HVAC UPGRADE 7/14-6/15 $1,200, $685, $0.00 $515, $90, MATH & SCIENCE ACADEMY RECESSED CAN UPGRADE 7/14-6/15 $40, $5, $0.00 $34, $8, EAST CAMPUS POOL LIGHTING UPGRADE 7/14-6/15 $11, $7, $0.00 $3, $2, EAST CAMPUS CLASSROOM LIGHTING UPGRADE 7/14-6/15 $350, $92, $200, $57, $23, EAST CAMPUS GYM/FIELDHOUSE LIGHTING UPGRADE 7/14-6/15 $141, $92, $25, $23, $15, DIST "PLUGLOAD CONTROL" VEND/WF/WINDOW AC 7/14-6/15 $47, $47, $0.00 $0.00 $31, WEST CAMPUS GYM/FIELDHOUSE LIGHTING UPGRADE 7/14-6/15 $132, $104, $25, $2, $18, WEST CAMPUS POOL LIGHTING UPGRADE 7/14-6/15 $40, $30, $0.00 $9, $4, $1,961, $1,066, $250, $645, $195, PROJECT DESCRIPTION FY 16 $$VALUE DCEO FUNDING ISBE FUNDING OUT OF POCKET ANNUAL SAVINGS R.O.I MATH & SCIENCE ACADEMY EXTERIOR LIGHTING UPGRADE 7/15-6/16 $36, $27, $0.00 $9, $6, EAST CAMPUS EXTERIOR LIGHTING UPGRADE 7/15-6/16 $72, $54, $0.00 $18, $12, EAST CAMPUS LIGHTING CONTROL 7/15-6/16 $69, $32, $0.00 $36, $17, WEST CAMPUS LIGHTING CONTROL UPGRADE 7/15-6/16 $82, $39, $0.00 $43, $19, WEST CAMPUS T8 LIGHTING UPGRADE 7/15-6/16 $300, $195, $0.00 $105, $74, WEST CAMPUS HVAC CONTROL 7/15-6/16 $150, $60, $0.00 $90, $55, MATH & SCIENCE ACADEMY LIGHTING CONTROL 7/15-6/16 $55, $26, $0.00 $29, $10, $765, $433, $0.00 $331, $195, HVAC ISBE OUT OF ANNUAL PROJECT DESCRIPTION FY $$VALUE DCEO FUNDING FUNDING POCKET SAVINGS R.O.I Proviso East Boiler Feed Water Economizer $318, $147, $0.00 $171, $57,

73 Section 5 Debt Structure

74 BUDGET Debt Service Fund - Projection Summary REVENUE / EXPENDITURE PROJECTIONS FY 2014 FY 2015 % chg FY 2016 % chg FY 2017 % chg FY 2018 % chg FY 2019 % chg REVENUE Local $5,362,360 $5,058, % $5,044, % $5,051, % $5,148, % $5,095, % State $0 $0 $0 $0 $0 $0 Federal $0 $0 $0 $0 $0 $0 Other $0 $0 $0 $0 $0 $0 TOTAL REVENUE $5,362,360 $5,058, % $5,044, % $5,051, % $5,148, % $5,095, % EXPENDITURES Salary and Benefit Costs $0 $0 $0 $0 $0 $0 Other $4,966,100 $4,864, % $4,863, % $4,857, % $4,852, % $4,847, % TOTAL EXPENDITURES $4,966,100 $4,864, % $4,863, % $4,857, % $4,852, % $4,847, % SURPLUS / DEFICIT $396,260 $193,992 $181,141 $193,757 $296,072 $247,973 OTHER FINANCING SOURCES/USES Transfer Among Funds (Net) $0 $0 $0 $0 $0 $0 Sale of Bonds $0 $0 $0 $0 $0 $0 Other Financing Sources $0 $0 $0 $0 $0 $0 Other Financing Uses $0 $0 $0 $0 $0 $0 TOTAL OTHER FIN. SOURCES/USES $0 $0 $0 $0 $0 $0 SURPLUS / DEFICIT INCL. OTHER FIN. SOURCES $396,260 $193,992 $181,141 $193,757 $296,072 $247,973 BEGINNING FUND BALANCE $5,226,587 $5,622,847 $5,816,839 $5,997,980 $6,191,737 $6,487,809 PROJECTED YEAR END BALANCE $5,622,847 $5,816,839 $5,997,980 $6,191,737 $6,487,809 $6,735,782 FUND BALANCE AS % OF EXPENDITURES % % % % % % FUND BALANCE AS # OF MONTHS OF EXPEND PMA Financial Network, Inc. Page: 13

75 Debt Service Fund - Projection Analysis REVENUES VS. EXPENDITURES FY SURPLUS / DEFICIT $6,000,000 $5,000,000 $4,000,000 $3,000,000 $2,000,000 $450,000 $400,000 $350,000 $300,000 $250,000 $200,000 $150,000 $396,260 $193,992 $181,141 $193,757 $296,072 $247,973 $1,000,000 $100,000 $0 FY 2014 FY 2015 FY 2016 FY 2017 FY 2018 FY 2019 $50,000 $0 FY 2014 FY 2015 FY 2016 FY 2017 FY 2018 FY 2019 Revenues Expenditures OTHER FINANCING SOURCES & USES YEAR END FUND BALANCE (MILLIONS) $1 $1 $1 $1 $1 $1 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 FY 2014 FY 2015 FY 2016 FY 2017 FY 2018 FY 2019 $6.8 $6.6 $6.4 $6.2 $6.0 $5.8 $5.6 $5.4 $5.2 $5.0 $6.7 $6.5 $6.2 $6.0 $5.8 $5.6 FY 2014 FY 2015 FY 2016 FY 2017 FY 2018 FY PMA Financial Network, Inc. Page: 14

76 Proviso THSD 209 Outstanding Debt Base Master Debt Schedule Levy G.O. Ltd Tax School Bonds Series 2004 Convertible Capital Appreciation Bonds 1 G.O. Ltd Tax School Refunding Bonds Series 2008A Advance Refunding Series 2001, Capital Appreciation Bonds 1 Current Net Levy for DS YEAR Prin (11/1) Rate 2 Interest Total P&I Prin (11/15) Rate 2 Interest Total P&I YEAR ,956, % 4,956,000 4,956, ,955, % 4,955,000 4,955, ,954, % 4,954,750 4,954, ,954, % 4,954,750 4,954, ,954, % 4,954,750 4,954, ,378, % 4,378, , % 580,000 4,958, ,960, % 4,960,000 4,960, ,960, % 4,960,000 4,960, ,960, % 4,960,000 4,960, ,960, % 4,960,000 4,960, ,960, % 4,960,000 4,960, ,960, % 4,960,000 4,960, ,960, % 4,960,000 4,960, ,960, % 4,960,000 4,960, TOTALS 29,153, ,153,750 40,260, ,260,000 69,413,750 TOTALS Levy NOTES 1 CAB's are calculated at each maturity to include accreted interest. Therefore, the interest column is blank. 2 Interest rates are actual coupons from the respective bond issues. Prepared by Ehlers and Associates, Inc. Leaders in Public Finance 1/28/2014 File: Prelim financing plan Feasible Proviso THSD /base case

77 Proviso THSD 209 Financial Plan Capital Bond Issues $11.4MM Outstanding Debt + New Capital Bonds = SCENARIO 1A Levy G.O. Ltd Tax School Bonds G.O. Ltd Tax School Refunding Bonds G.O. Bonds 4,5 Taxable G.O. School Facility Bonds 4,5 Series 2004 Series 2008A Series 2014B Series 2014A Estimated Net Levy for Capital Improvements (QZAB) Capital Improvements DS Convertible Capital Appreciation Bonds 1 Advance Refunding Series 2001, Capital Appreciation Bonds 1 YEAR Prin (11/1) Rate 2 Interest Total P&I Prin (11/15) Rate 2 Interest Total P&I Prin (11/1) Rate 3 Interest Total P&I Prin (11/1) Rate 2 Interest Total P&I YEAR ,956, % 4,956,000 21,178 21, , ,030 5,406, ,955, % 4,955,000 21,178 21, , ,030 5,405, ,954, % 4,954,750 21,178 21, , ,030 5,404, ,954, % 4,954,750 21,178 21, , ,030 5,404, ,954, % 4,954,750 21,178 21, , ,030 5,404, ,378, % 4,378, , % 580,000 21,178 21, , ,030 5,408, ,960, % 4,960,000 21,178 21, , ,030 5,410, ,960, % 4,960,000 21,178 21, , ,030 5,410, ,960, % 4,960,000 21,178 21, , ,030 5,410, ,960, % 4,960,000 21,178 21, , ,030 5,410, ,960, % 4,960, , % 21, , , ,030 5,692, ,960, % 4,960, , % 16, , , ,030 5,688, ,960, % 4,960, , % 12, , , ,030 5,684, , % 8, ,841 4,980, % 429,030 5,409,030 5,699, , % 4, ,606 4,020, % 194,970 4,214,970 4,501, TOTALS 29,153, ,153,750 35,300, ,300,000 1,411, ,311 1,687,161 9,000,000 6,201,390 15,201,390 81,342,301 TOTALS Levy NOTES 1 CAB's are calculated at each maturity to include accreted interest. Therefore, the interest column is blank. 2 Interest rates are actual coupons from the respective bond issues. 3 Assume low, fixed and level interest rate from sale of Qualified Zone Academy Bonds and no direct subsidy. 4 Estimated interest rates are based upon: (A) a scale run of recent bond sale results for comparable issuers and (B) a review of market indices; e.g., "AAA" MMD scale of 1/24/14. 5 Assume S&P designates District with A credit rating. Prepared by Ehlers and Associates, Inc. Leaders in Public Finance 1/28/2014 File: Prelim financing plan Feasible Proviso THSD /fin plan $11.4M cap only 1A

78 Proviso THSD 209 Financial Plan Capital Bond Issues $16.4MM Outstanding Debt + New Capital Bonds = SCENARIO 1A Levy G.O. Ltd Tax School Bonds G.O. Ltd Tax School Refunding Bonds G.O. Bonds 4,5 Taxable G.O. School Facility Bonds 4,5 Series 2004 Series 2008A Series 2014B Series 2014A Convertible Capital Appreciation Bonds 1 Advance Refunding Series 2001, Capital Appreciation Bonds 1 Capital Improvements (QZAB) Capital Improvements Estimated Net Levy for DS YEAR Prin (11/1) Rate 2 Interest Total P&I Prin (11/15) Rate 2 Interest Total P&I Prin (11/1) Rate 3 Interest Total P&I Prin (11/1) Rate 2 Interest Total P&I YEAR ,956, % 4,956,000 21,178 21, , ,250 5,693, ,955, % 4,955,000 21,178 21, , ,250 5,692, ,954, % 4,954,750 21,178 21, , ,250 5,692, ,954, % 4,954,750 21,178 21, , ,250 5,692, ,954, % 4,954,750 21,178 21, , ,250 5,692, ,378, % 4,378, , % 580,000 21,178 21, , ,250 5,695, ,960, % 4,960,000 21,178 21, , ,250 5,697, ,960, % 4,960,000 21,178 21, , ,250 5,697, ,960, % 4,960,000 21,178 21, , ,250 5,697, ,960, % 4,960,000 21,178 21, , ,250 5,697, ,960, % 4,960, , % 21, , , ,250 5,979, ,960, % 4,960, , % 16, , , ,250 5,975, ,960, % 4,960, , % 12, , , ,250 5,971, , % 8, ,841 7,500, % 716,250 8,216,250 8,507, , % 4, ,606 7,500, % 363,750 7,863,750 8,150, TOTALS 29,153, ,153,750 35,300, ,300,000 1,411, ,311 1,687,161 15,000,000 10,391,250 25,391,250 91,532,161 TOTALS Levy NOTES 1 CAB's are calculated at each maturity to include accreted interest. Therefore, the interest column is blank. 2 Interest rates are actual coupons from the respective bond issues. 3 Assume low, fixed and level interest rate from sale of Qualified Zone Academy Bonds and no direct subsidy. 4 Estimated interest rates are based upon: (A) a scale run of recent bond sale results for comparable issuers and (B) a review of market indices; e.g., "AAA" MMD scale of 1/24/14. 5 Assume S&P designates District with A credit rating. Prepared by Ehlers and Associates, Inc. Leaders in Public Finance 1/28/2014 File: Prelim financing plan Feasible Proviso THSD /fin plan $16.4M cap only 1B

79 Proviso THSD 209 Financial Plan Capital Bond Issue $11.4MM + Current Refunding Series 2004 Outstanding Debt + New Capital Bonds = SCENARIO 4A Levy G.O. Ltd Tax School Bonds G.O. Ltd Tax School Refunding Bonds G.O. Bonds 4,6 Taxable G.O. School Facility Bonds 4,6 G.O. Ltd Tax School Refunding Bonds 5,6 Series 2004 Series 2008A Series 2014A Series 2014B Series 2016 Estimated Net Levy for Convertible Capital Advance Refunding Series 2001, Current Refunding Series 2004 Appreciation Bonds 1 Capital Appreciation Bonds 1 Capital Improvements (QZAB) Capital Improvements DS Converted Bonds YEAR Prin (11/1) Rate 2 Interest Total P&I Prin (11/15) Rate 2 Interest Total P&I Prin (11/1) Rate 3 Interest Total P&I Prin (11/1) Rate 2 Interest Total P&I Prin (11/1) Rate 3 Interest Total P&I YEAR ,956, % 4,956,000 21,178 21, , ,030 5,406, ,955, % 4,955,000 21,178 21, , ,030 5,405, ,178 21, , ,030 4,335, % 368,296 4,703,296 5,153, ,178 21, , ,030 4,450, % 254,993 4,704,993 5,155, ,178 21, , ,030 4,525, % 177,118 4,702,118 5,152, , % 580,000 21,178 21, , ,030 4,040, % 88,880 4,128,880 5,159, ,960, % 4,960,000 21,178 21, , ,030 5,410, ,960, % 4,960,000 21,178 21, , ,030 5,410, ,960, % 4,960,000 21,178 21, , ,030 5,410, ,960, % 4,960,000 21,178 21, , ,030 5,410, ,960, % 4,960, , % 21, , , ,030 5,692, ,960, % 4,960, , % 16, , , ,030 5,688, ,960, % 4,960, , % 12, , , ,030 5,684, , % 8, ,841 4,980, % 429,030 5,409,030 5,699, , % 4, ,606 4,020, % 194,970 4,214,970 4,501, TOTALS 9,911, ,911,000 35,300, ,300,000 1,411, ,311 1,687,161 9,000,000 6,201,390 15,201,390 17,350, ,286 18,239,286 80,338,837 TOTALS Levy NOTES 1 CAB's are calculated at each maturity to include accreted interest. Therefore, the interest column is blank. 2 Interest rates are actual coupons from the respective bond issues. 3 Assume low, fixed and level interest rate from sale of Qualified Zone Academy Bonds and no direct subsidy. 4 Estimated interest rates are based upon: (A) a scale run of recent bond sale results for comparable issuers and (B) a review of market indices; e.g., "AAA" MMD scale of 1/24/14. 5 Estimated interest rates are based upon: (A) a scale run of recent bond sale results for comparable issuers and (B) a review of market indices; e.g., "AAA" MMD scale of 1/24/14 PLUS 50 basis points due to later issue date. 6 Assume S&P designates District with A credit rating. Prepared by Ehlers and Associates, Inc. Leaders in Public Finance 1/28/2014 File: Prelim financing plan Feasible Proviso THSD /fin plan $11M cap $19 c rf 4A

80 Proviso THSD 209 Financial Plan Capital Bond Issue $16.4MM + Current Refunding Series 2004 Outstanding Debt + New Capital Bonds = SCENARIO 4B Levy G.O. Ltd Tax School Bonds G.O. Ltd Tax School Refunding Bonds G.O. Bonds 4,6 Taxable G.O. School Facility Bonds 4,6 G.O. Ltd Tax School Refunding Bonds 5,6 Series 2004 Series 2008A Series 2014A Series 2014B Series 2016 Estimated Net Levy for Convertible Capital Advance Refunding Series 2001, Current Refunding Series 2004 Appreciation Bonds 1 Capital Appreciation Bonds 1 Capital Improvements (QZAB) Capital Improvements DS Converted Bonds YEAR Prin (11/1) Rate 2 Interest Total P&I Prin (11/15) Rate 2 Interest Total P&I Prin (11/1) Rate 3 Interest Total P&I Prin (11/1) Rate 2 Interest Total P&I Prin (11/1) Rate 3 Interest Total P&I YEAR ,956, % 4,956,000 21,178 21, , ,250 5,693, ,955, % 4,955,000 21,178 21, , ,250 5,692, ,178 21, , ,250 4,335, % 368,296 4,703,296 5,440, ,178 21, , ,250 4,450, % 254,993 4,704,993 5,442, ,178 21, , ,250 4,525, % 177,118 4,702,118 5,439, , % 580,000 21,178 21, , ,250 4,040, % 88,880 4,128,880 5,446, ,960, % 4,960,000 21,178 21, , ,250 5,697, ,960, % 4,960,000 21,178 21, , ,250 5,697, ,960, % 4,960,000 21,178 21, , ,250 5,697, ,960, % 4,960,000 21,178 21, , ,250 5,697, ,960, % 4,960, , % 21, , , ,250 5,979, ,960, % 4,960, , % 16, , , ,250 5,975, ,960, % 4,960, , % 12, , , ,250 5,971, , % 8, ,841 7,500, % 716,250 8,216,250 8,507, , % 4, ,606 7,500, % 363,750 7,863,750 8,150, TOTALS 9,911, ,911,000 35,300, ,300,000 1,411, ,311 1,687,161 15,000,000 10,391,250 25,391,250 17,350, ,286 18,239,286 90,528,697 TOTALS Levy NOTES 1 CAB's are calculated at each maturity to include accreted interest. Therefore, the interest column is blank. 2 Interest rates are actual coupons from the respective bond issues. 3 Assume low, fixed and level interest rate from sale of Qualified Zone Academy Bonds and no direct subsidy. 4 Estimated interest rates are based upon: (A) a scale run of recent bond sale results for comparable issuers and (B) a review of market indices; e.g., "AAA" MMD scale of 1/24/14. 5 Estimated interest rates are based upon: (A) a scale run of recent bond sale results for comparable issuers and (B) a review of market indices; e.g., "AAA" MMD scale of 1/24/14 PLUS 50 basis points due to later issue date. 6 Assume S&P designates District with A credit rating. Prepared by Ehlers and Associates, Inc. Leaders in Public Finance 1/28/2014 File: Prelim financing plan Feasible Proviso THSD /fin plan $11M cap $19 c rf 4B

81 Section 6 Assumptions Used in Plan

82 Certified Staff Assumptions Certified Staff (FTE) Staffing Ratios PreK: PreK Special Ed: K: : : : : : : : : : : : Grades Guidance Counselors Librarians Social Workers Special Ed Teachers Technology ELL Department Chairs/Teachers Instructional Coach Other_ Other_ Other_ Other_ Other_ Other_ Other_ Technology Total FTE: Average Staffing Ratio: PMA Financial Network, Inc. Page: 42

83 Certified Staff Assumptions Certified Staff Changes (FTE)- Projections PreK: PreK Special Ed: K: : : : : : : : : : : : Grades Guidance Counselors Librarians Social Workers Special Ed Teachers Technology ELL Department Chairs/Teachers Instructional Coach Other_ Other_ Other_ Other_ Other_ Other_ CERTIFIED STAFF (FTE) Actual Projected 2012 PMA Financial Network, Inc. Page: 43

84 Equalized Assessed Valuation Analysis Levy Year CONSUMER PRICE INDEX 0.10% 2.70% 1.50% 3.00% 1.70% 1.50% 2.10% 2.10% 2.10% 2.10% 2.10% EQUALIZED ASSESSED VALUATION $3,080,344,776 $3,065,980,436 $2,497,139,606 $2,309,493,614 $2,210,566,401 $2,155,196,577 $2,131,316,663 $2,138,690,330 $2,125,303,426 $2,131,303,426 $2,183,929,495 % CHANGE -0.47% % -7.51% -4.28% -2.50% -1.11% 0.35% -0.63% 0.28% 2.47% NEW GROWTH $5,984,880 $3,627,888 $7,594,341 $4,306,334 $5,000,000 $22,000,000 $30,000,000 $50,000,000 $8,000,000 $6,000,000 $10,000,000 % OF TOTAL EAV 0.19% 0.12% 0.30% 0.19% 0.23% 1.02% 1.41% 2.34% 0.38% 0.28% 0.46% EXISTING PROPERTIES ($17,992,228) ($576,435,171) ($191,952,326) ($103,927,213) ($77,369,824) ($53,879,914) ($42,626,333) ($21,386,903) $0 $42,626,069 % OF TOTAL EAV-1YEAR -0.58% % -7.69% -4.50% -3.50% -2.50% -2.00% -1.00% 0.00% 2.00% Total EAV Analysis (In Millions) Total EAV % Change $3,500 $3,000 $2,500 $2,000 $3,080 $3,066 $2,497 $2,309 $2,211 $2,155 $2,131 $2,139 $2,125 $2,131 $2,184 5% 0% -5% -0.47% -4.28% -2.50% -1.11% 0.35% -0.63% 0.28% 2.47% $1,500 $1,000 $500-10% -15% -7.51% $ Actual Projected -20% % Actual Projected Existing EAV % Change New EAV Growth (In Millions) 5% 0% -5% -10% -15% -0.58% -7.69% -4.50% -3.50% -2.50% -2.00% -1.00% 0.00% 2.00% $60.0 $50.0 $40.0 $30.0 $20.0 $10.0 $6.0 $3.6 $7.6 $4.3 $5.0 $22.0 $30.0 $50.0 $8.0 $6.0 $ % % Actual Projected $ Actual Projected 2012 PMA Financial Network, Inc. Page: 44

85 Extension Analysis and Consumer Price Index Assumptions Extension Rate Extension Rate Extension Rate Extension Rate Extension Rate Extension Rate Extension Rate Education Fund 38,701, ,219, ,096, ,062, ,507, ,825, ,244, Leasing Special Education - - 8,842, ,620, ,525, ,554, ,501, ,525, Summer School Other Tax Levies Operation & Maintenance Fund 7,600, ,000, ,550, ,550, ,550, ,550, ,550, Facility Leasing Special Education Area Vocational Construction Other Tax Levies Bond & Interest Fund 4,941, ,107, ,106, ,100, ,094, ,089, ,083, Area Vocational Construction Other Tax Levies Transportation Fund 1,425, ,500, , , , , , Special Education Other Tax Levies IMRF & Social Security Fund 1,187, ,250, ,100, ,100, ,100, ,150, ,150, Special Education Social Security/Medicare-Only 1,187, ,250, ,100, ,100, ,100, ,200, ,150, Other Tax Levies Capital Projects Fund Other Tax Levies Working Cash Fund 9, , , , , , , Other Tax Levies Tort Fund 9, , , , , , , Other Tax Levies Fire Prevention and Safety Fund 175, , , , , , , Other Tax Levies TOTALS 55,237, ,374, ,678, ,543, ,011, ,421, ,808, TAX-CAPPED TOTAL 50,295, ,266, ,572, ,442, ,916, ,331, ,724, Consumer Price Index (CPI) - Levy Years Total Tax Rate (incl. Bonds) 3.5% 3.0% 2.5% 2.0% 1.5% 2.7% 1.5% 3.0% 1.7% 1.5% 2.1% 2.1% 2.1% 2.1% 2.1% 3.5% 3.0% 2.5% 2.0% 1.5% 1.75% 1.81% 2.15% 2.39% 2.55% 2.68% 2.79% 2.90% 2.98% 3.04% 3.04% 1.0% 1.0% 0.5% 0.0% 0.1% Actual Projected 0.5% 0.0% Actual Projected 2012 PMA Financial Network, Inc. Page: 45

86 Summary of Major Assumptions Revenue Assumptions Total All Counties Total EAV $3,080,344,776 $3,065,980,436 $2,497,139,606 $2,309,493,614 $2,210,566,401 $2,155,196,577 $2,131,316,663 $2,138,690,330 $2,125,303,426 $2,131,303,426 New Growth $5,984,880 $3,627,888 $7,594,341 $4,306,334 $5,000,000 $22,000,000 $30,000,000 $50,000,000 $8,000,000 $6,000,000 Existing EAV $3,074,359,896 $3,062,352,548 $2,489,545,265 $2,305,187,280 $2,205,566,401 $2,133,196,577 $2,101,316,663 $2,088,690,330 $2,117,303,426 $2,125,303,426 Assumptions Total EAV % Increase -0.13% -0.47% % -7.51% -4.28% -2.50% -1.11% 0.35% -0.63% 0.28% New Growth $5,984,880 $3,627,888 $7,594,341 $4,306,334 $5,000,000 $22,000,000 $30,000,000 $50,000,000 $8,000,000 $6,000,000 Existing EAV % Change -0.32% -0.58% % -7.69% -4.50% -3.50% -2.50% -2.00% -1.00% 0.00% DISTRIBUTION OF TAXES 69.41% 30.59% TAX COLLECTION RATE 99.00% 99.00% 99.00% 99.00% 99.00% 99.00% 99.00% CONSUMER PRICE INDEX 0.1% 2.7% 1.5% 3.0% 1.7% 1.5% 2.1% 2.1% 2.1% 2.1% INVESTMENT RATE OF RETURN 0.25% 0.50% 0.75% 1.00% 1.25% GENERAL STATE AID Foundation Level: $6,119 $6,119 $6,119 $6,119 $6,119 $6,119 $6,119 $6,119 $6,119 $6,119 Foundation Level Increase: $0 $0 $0 $0 $0 $0 $0 $0 $0 Proration Level: 95% 89% 89% 83% 83% 83% 83% 83% CPPRT % 29.68% -5.98% -0.16% -9.51% 0.00% 0.00% 0.00% 0.00% 0.00% CPPRT Amount: $ 2,814,374 $ 3,649,733 $ 3,431,497 $ 3,425,968 $ 3,100,000 $ 3,100,000 $ 3,100,000 $ 3,100,000 $ 3,100,000 $ 3,100, PMA Financial Network, Inc. Page: 46

87 Summary of Major Assumptions Educational Fund - Assumptions Total Tuition 25.08% 25.12% 89.51% -0.42% -6.20% 0.00% 0.00% 0.00% 0.00% 0.00% Total Tuition Adjustments $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 Tuition Amount $45,151 $56,493 $107,062 $106,615 $100,000 $100,000 $100,000 $100,000 $100,000 $100,000 Total Food Srvc % -7.92% 3.89% % 3.52% 0.00% 0.00% 0.00% 0.00% 0.00% Total Food Srvc Adjustments $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 Food Service Amount $525,678 $484,046 $502,861 $381,552 $395,000 $395,000 $395,000 $395,000 $395,000 $395,000 Total Pupil Activities -7.90% -3.33% % -9.97% 2.03% 0.00% 0.00% 0.00% 0.00% 0.00% Total Pupil Activities Adjustments $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 Pupil Activities Amount $551,852 $533,499 $452,879 $407,734 $416,000 $416,000 $416,000 $416,000 $416,000 $416,000 Total Textbooks 18.85% % % 2.17% -0.01% 0.00% 0.00% 0.00% 0.00% 0.00% Total Textbooks Adjustments $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 Textbooks Amount $48,837 $38,963 $28,385 $29,002 $29,000 $29,000 $29,000 $29,000 $29,000 $29,000 Total Other Revenue % 23.50% % % 6.52% 0.00% 0.00% 0.00% 0.00% 0.00% Total Other Revenue Adjustments $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 Other Revenue Amount $1,540,260 $1,902,151 $1,366,814 $1,021,994 $1,088,620 $1,088,620 $1,088,620 $1,088,620 $1,088,620 $1,088,620 Special Education 15.55% 3.86% -8.82% 58.81% % 0.00% 0.00% 0.00% 0.00% 0.00% Special Education Adjustments $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 Special Education Amount $2,247,128 $2,333,927 $2,128,159 $3,379,643 $2,359,492 $2,359,492 $2,359,492 $2,359,492 $2,359,492 $2,359,492 Career & Technical Education 99.82% % % % 0.00% 0.00% 0.00% 0.00% 0.00% Career & Technical Education Adjustments $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 Career & Tech Education Amount $102,072 $203,956 $51,415 $152,792 $112,628 $112,628 $112,628 $112,628 $112,628 $112,628 Bilingual Education % % 31.19% 11.10% % % 0.00% 0.00% 0.00% 0.00% Bilingual Education Adjustments $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 Bilingual Education Amount $2,341 $63,853 $83,769 $93,071 $275,151 $100,000 $100,000 $100,000 $100,000 $100,000 Driver Education % 38.99% % 36.62% -2.78% % 0.00% 0.00% 0.00% 0.00% Driver Education Adjustments $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 Driver Education Amount $95,830 $133,191 $75,286 $102,859 $100,000 $80,000 $80,000 $80,000 $80,000 $80,000 Other Restricted Grants In Aid % -4.83% % 74.18% 40.34% 0.00% 0.00% 0.00% 0.00% 0.00% Other Restricted Grants In Aid Adjustments $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 Other Restricted Grants In Aid Amount $84,590 $80,503 $40,511 $70,562 $99,026 $99,026 $99,026 $99,026 $99,026 $99, PMA Financial Network, Inc. Page: 47

88 Summary of Major Assumptions Educational Fund - Assumptions Total Unrestricted Grants-In-Aid % 0.00% 0.00% 0.00% 0.00% 0.00% Total Unrestricted Grants-In-Aid Adjustments $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 Unrestricted Grants-In-Aid Amount $0 $176,972 $0 $0 $0 $0 $0 $0 $0 $0 Total Title V 0.00% 0.00% 0.00% 0.00% 0.00% Total Title V Adjustments $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 Title V Amount $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 Total Food Service 50.36% 3.45% 21.47% -9.47% 7.65% 0.00% 0.00% 0.00% 0.00% 0.00% Total Food Service Adjustments $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 Food Service Amount $718,589 $743,383 $903,005 $817,482 $880,000 $880,000 $880,000 $880,000 $880,000 $880,000 Total Title I % 33.94% % 44.79% 12.37% 0.00% 0.00% 0.00% 0.00% 0.00% Total Title I Adjustments $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 Title I Amount $1,174,933 $1,573,737 $1,002,559 $1,451,595 $1,631,129 $1,631,129 $1,631,129 $1,631,129 $1,631,129 $1,631,129 Total Title IV 37.89% % 11.93% % 0.00% 0.00% 0.00% 0.00% 0.00% Total Title IV Adjustments $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 Title IV Amount $20,146 ($805) ($901) $0 $0 $0 $0 $0 $0 $0 Federal Special Education % 25.67% % 0.00% 0.00% 0.00% 0.00% 0.00% Federal Special Education Adjustments $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 Federal Special Education Amount $0 $678 $3,101 $3,897 $0 $0 $0 $0 $0 $0 Total Career & Technical Education % % % % % 0.00% 0.00% 0.00% 0.00% 0.00% Total Career & Technical Education Adjustments $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 Career & Tech Ed Amount $518,864 $265,218 $140,216 $344,064 $239,731 $239,731 $239,731 $239,731 $239,731 $239,731 Total Fed.-Adult Education 0.00% 0.00% 0.00% 0.00% 0.00% Total Fed.-Adult Education Adjustments $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 Federal Adult Education Amount $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 Total Title II % % % 38.35% 3.11% 0.00% 0.00% 0.00% 0.00% 0.00% Total Title II Adjustments $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 Title II Amount $161,481 $330,471 $115,188 $159,364 $164,313 $164,313 $164,313 $164,313 $164,313 $164,313 Medicaid Matching Funds 11.07% -2.45% % 81.39% % 0.00% 0.00% 0.00% 0.00% 0.00% Medicaid Matching Funds Adjustments $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 Medicaid Matching Funds Amount $189,972 $185,312 $155,670 $282,370 $0 $0 $0 $0 $0 $0 Other Restricted Grants-In-Aid % % % % % -5.60% 0.00% 0.00% 0.00% 0.00% Other Restricted Grants-In-Aid Adjustments $0 $0 $0 $0 $0 $115,000 $0 $0 $0 $0 Other Restricted Grants-In-aid Amount $1,525,460 $1,268,543 ($12,949) $26,653 $121,819 $230,000 $230,000 $230,000 $230,000 $230,000 Operations and Maintenance Fund - Assumptions Rentals: % 13.55% 45.50% % 12.49% 0.00% 0.00% 0.00% 0.00% 0.00% Rentals: Adjustments $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 Rentals Amount $90,042 $102,244 $148,761 $88,896 $100,000 $100,000 $100,000 $100,000 $100,000 $100,000 Contributions and Donations: 0.00% 0.00% 0.00% 0.00% 0.00% Contributions and Donations: Adjustments $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 Contributioins and Donations Amount $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 Other Local Revenue: % % % % % 0.00% 0.00% 0.00% 0.00% 0.00% Other Local Revenue: Adjustments $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 Other Local Revenue: Amount $187,110 $107,787 $26,882 $63,532 $1,000 $1,000 $1,000 $1,000 $1,000 $1, PMA Financial Network, Inc. Page: 48

89 Summary of Major Assumptions State Revenue: % 0.00% 0.00% % 0.00% 0.00% State Revenue: Adjustments $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 State Revenue: Amount $0 $0 $0 $50,000 $1,800,000 $2,300,000 $2,300,000 $1,756,000 $1,756,000 $1,756,000 Debt Service Fund - Assumptions Other Local Revenue: 0.00% 0.00% 0.00% 0.00% 0.00% Other Local Revenue: Adjustments $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 Other Local Revenue Amount $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 State Revenue: 0.00% 0.00% 0.00% 0.00% 0.00% State Revenue: Adjustments $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 State Revenue Amount $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 Federal Revenue: 0.00% 0.00% 0.00% 0.00% 0.00% Federal Revenue: Adjustments $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 Federal Revenue Amount $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 Transportation Fund - Assumptions Transportation Fees: % 96.81% 65.66% % -9.59% 0.00% 0.00% 0.00% 0.00% 0.00% Transportation Fees: Adjustments $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 Transportation Fees Amount Other Local Revenue: % 0.00% 0.00% 0.00% 0.00% 0.00% Other Local Revenue: Adjustments $0 $0 $0 $0 $900,000 ($900,000) $0 $0 $0 $0 Other Local Revenue Amount $0 $0 $0 $1,166,999 $900,000 $0 $0 $0 $0 $0 State Revenue: 56.89% 99.31% % 40.72% 13.60% 16.74% % 2.00% 2.00% 2.00% State Revenue: Adjustments $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 State Revenue Amount $1,014,651 $2,022,298 $1,447,422 $2,036,761 $2,313,844 $1,533,793 $1,293,120 $1,319,030 $1,345,459 $1,372,419 Federal Revenue: 0.00% 0.00% 0.00% 0.00% 0.00% Federal Revenue: Adjustments $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 Federal Revenue Amount $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 % Change of Transportation Expenditures - Including Amort. Cap % 11.92% % 10.97% 16.74% % 2.00% 2.00% 2.00% 2.00% Municipal Retirement / Social Security Fund - Assumptions Other Local Revenue: 0.00% 0.00% 0.00% 0.00% 0.00% Other Local Revenue: Adjustments $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 Other Local Revenue Amount $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 State Revenue: 0.00% 0.00% 0.00% 0.00% 0.00% State Revenue: Adjustments $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 State Revenue Amount $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 Federal Revenue: 0.00% 0.00% 0.00% 0.00% 0.00% Federal Revenue: Adjustments $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 Federal Revenue Amount $0 $0 $0 $0 $0 $0 $0 $0 $0 $ PMA Financial Network, Inc. Page: 49

90 Summary of Major Assumptions Capital Projects Fund - Assumptions Contributions and Donations: 0.00% 0.00% 0.00% 0.00% 0.00% Contributions and Donations: Adjustments $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 Contributions and Donations Amount $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 Other Local Revenue: 0.00% 0.00% 0.00% 0.00% 0.00% Other Local Revenue: Adjustments $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 Other Local Revenue Amount $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 State Revenue: 0.00% 0.00% 0.00% 0.00% 0.00% State Revenue: Adjustments $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 State Revenue Amount $0 $0 $0 $2,103,159 $0 $0 $0 $0 $0 $0 Federal Revenue: 0.00% 0.00% 0.00% 0.00% 0.00% Federal Revenue: Adjustments $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 Federal Revenue Amount $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 Working Cash Fund - Assumptions Other Local Revenue: 0.00% 0.00% 0.00% 0.00% 0.00% Other Local Revenue: Adjustments $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 Other Local Revenue Amount $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 State Revenue: 0.00% 0.00% 0.00% 0.00% 0.00% State Revenue: Adjustments $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 State Revenue Amount $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 Federal Revenue: 0.00% 0.00% 0.00% 0.00% 0.00% Federal Revenue: Adjustments $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 Federal Revenue Amount $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 Tort Fund - Assumptions Other Local Revenue: 0.00% 0.00% 0.00% 0.00% 0.00% Other Local Revenue: Adjustments $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 Other Local Revenue Amount $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 State Revenue: 0.00% 0.00% 0.00% 0.00% 0.00% State Revenue: Adjustments $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 State Revenue Amount $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 Federal Revenue: 0.00% 0.00% 0.00% 0.00% 0.00% Federal Revenue: Adjustments $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 Federal Revenue Amount $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 Fire Prevention and Safety Fund - Assumptions Other Local Revenue: 0.00% 0.00% 0.00% 0.00% 0.00% Other Local Revenue: Adjustments $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 Other Local Revenue Amount $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 State Revenue: 0.00% 0.00% 0.00% 0.00% 0.00% State Revenue: Adjustments $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 State Revenue Amount $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 Federal Revenue: 0.00% 0.00% 0.00% 0.00% 0.00% Federal Revenue: Adjustments $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 Federal Revenue Amount $0 $0 $0 $0 $0 $0 $0 $0 $0 $ PMA Financial Network, Inc. Page: 50

91 Summary of Major Assumptions Funds to Aggregate Educational Yes Operations and Maintenance Yes Debt Service No Transportation Yes IMRF Yes Capital Projects No Working Cash Yes Tort Yes Fire Prevention and Safety No Enrollment Assumptions : : : : SPED Out-of-District TOTAL ENROLLMENT: ANNUAL CHANGE: % CHANGE: 1.11% 2.19% -3.26% -1.70% -7.04% 3.12% 2.46% 2.57% -1.82% 3.38% ADA: DHS Low Income Count: PMA Financial Network, Inc. Page: 51

92 Summary of Major Assumptions Certified Staff Assumptions FTE Guidance Counselors Librarians Social Workers Special Ed Teachers Technology ELL Department Chairs/Teachers Instructional Coach Other_ Other_ Other_ Other_ Other_ Other_ Other_ Technology Department Chairs/Teachers PMA Financial Network, Inc. Page: 52

93 Summary of Major Assumptions Certified Staff Assumptions : : Grades Guidance Counselors Librarians Social Workers Special Ed Teachers Technology ELL Department Chairs/Teachers Instructional Coach Other_ Other_ Other_ Other_ Other_ Other_ PMA Financial Network, Inc. Page: 53

94 Summary of Major Assumptions Certified Staff Assumptions #DIV/0! : : Grades Guidance Counselors Librarians Social Workers Special Ed Teachers Technology ELL Department Chairs/Teachers Instructional Coach Other_ Other_ Other_ Other_ Other_ Other_ PMA Financial Network, Inc. Page: 54

95 Summary of Major Assumptions Expenditure Assumptions Salary Assumptions: Teachers (Including Step) 5.25% 4.75% 4.50% 2.50% 2.50% Administrators 3.00% 3.00% 3.00% 3.00% 3.00% Custodians/Security 2.00% 2.00% 2.00% 2.00% 2.00% Clerical 3.00% 2.75% 2.75% 2.50% 2.50% Aides 3.00% 2.75% 2.75% 2.50% 2.50% Transportation 2.00% 2.00% 2.00% 2.00% 2.00% Teacher Stipends/Substitutes 2.00% 2.00% 2.00% 2.00% 2.00% Other Stipends/Misc 2.00% 2.00% 2.00% 2.00% 2.00% User Defined Salaries % 0.00% 0.00% 0.00% 0.00% Other 0.00% 0.00% 0.00% 0.00% 0.00% Freeze Step - Teachers Scattergram? Yes Yes Yes Yes Yes Benefits Assumptions Employer FICA: 6.20% 6.20% 6.20% 6.20% 6.20% 6.20% Medicare: 1.45% 1.45% 1.45% 1.45% 1.45% 1.45% Employer IMRF: 10.77% 9.92% 9.52% 9.88% 10.00% 10.00% Employer TRS retirement contribution 0.58% 0.58% 1.08% 1.58% 2.08% 2.58% Employer THIS (insurance) contribution 0.72% 0.72% 0.72% 0.72% 0.72% 0.72% Board Paid TRS/THIS: 1.30% 1.30% 1.80% 2.30% 2.80% 3.30% Member THIS (insurance) contribution - Teachers 0.97% 0.97% 0.97% 0.97% 0.97% 0.97% Paid by Employer? No No No No No No Member THIS (insurance) contribution - Administrators 0.97% 0.97% 0.97% 0.97% 0.97% 0.97% Paid by Employer? Yes Yes Yes Yes Yes Yes Employer TRS contribution on Federally Funded Salaries 35.41% 7.44% 7.44% 7.44% 7.44% 7.44% Member Retirement Contribution - Teachers: 9.40% 9.40% 9.40% 9.40% 9.40% 9.40% Percent paid By Employer: 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% Is Negotiated TRS part of Salaries? No No No No No No Member Retirement Contribution - Administrators: 9.40% 9.40% 9.40% 9.40% 9.40% 9.40% Percent Paid By Employer: 9.40% 9.40% 9.40% 9.40% 9.40% 9.40% Is Negotiated TRS part of Salaries? No No No No No No Health Insurance 0.00% 10.00% 10.00% 10.00% 10.00% 10.00% Health Insurance Cost $ 14,710 $ 16,181 $ 17,799 $ 19,579 $ 21,537 $ 23,691 Dental Insurance 0.00% 2.00% 2.00% 2.00% 2.00% 2.00% Dental Insurance Cost $ 232 $ 237 $ 241 $ 246 $ 251 $ 256 User Defined Benefit % 0.00% 0.00% 0.00% 0.00% 0.00% User Defined Benefit Cost - 1 $ - $ - $ - $ - $ - $ - User Defined Benefit % 0.00% 0.00% 0.00% 0.00% 0.00% User Defined Benefit Cost - 2 $ - $ - $ - $ - $ - $ - User Defined Benefit % 0.00% 0.00% 0.00% 0.00% 0.00% User Defined Benefit Cost - 3 $ - $ - $ - $ - $ - $ - Other: 0.00% -1.29% 3.26% 4.98% -3.63% 2.84% 2014 PMA Financial Network, Inc. Page: 55

96 Summary of Major Assumptions Expenditure Assumptions Educational Fund - Assumptions Purchased Services 10.80% -1.30% % % 28.40% % 0.00% 0.00% 0.00% 0.00% Purchased Services Adjustments ($9,106,960) $0 $0 $0 $0 $0 $0 $0 $0 $0 Purchased Services Amount $6,769,074 $15,669,808 $6,322,001 $4,892,416 $6,281,854 $5,550,000 $5,550,000 $5,550,000 $5,550,000 $5,550,000 Supplies and Materials 38.06% % 20.98% % % 4.82% 0.00% 0.00% 0.00% 0.00% Supplies and Materials Adjustments $0 $0 $0 $0 $0 ($600,000) $0 $0 $0 $0 Supplies and Materials Amount $1,357,477 $894,081 $1,081,697 $841,599 $1,860,410 $1,350,000 $1,350,000 $1,350,000 $1,350,000 $1,350,000 Capital Outlay % % 84.85% % 50.55% 0.00% 0.00% 0.00% 0.00% 0.00% Capital Outlay Adjustments $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 Capital Outlay Amount $404,362 $276,193 $510,539 $197,426 $297,221 $297,221 $297,221 $297,221 $297,221 $297,221 Other Objects 15.53% 2.08% % 3.69% 18.21% % 3.00% 3.00% 3.00% 3.00% Other Objects Adjustments $9,106,960 $0 $0 $0 $0 $0 $0 $0 $0 $0 Other Objects Amount $9,186,948 $81,652 $9,046,507 $9,380,625 $11,088,503 $9,500,000 $9,785,000 $10,078,550 $10,380,907 $10,692,334 Non-Capitalized Equipment % % 4.65% 39.21% 84.47% % 0.00% 0.00% 0.00% 0.00% Non-Capitalized Equipment Adjustments $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 Non-Capitalized Equipment Amount $330,293 $242,816 $254,118 $353,770 $652,610 $1,750,000 $1,750,000 $1,750,000 $1,750,000 $1,750,000 Termination Benefits 0.00% 0.00% 0.00% 0.00% 0.00% Termination Benefits Adjustments $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 Termination Benefits Amount $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 Operations and Maintenance Fund - Assumptions Purchased Services % 12.00% -1.84% % % 49.23% 2.40% 2.40% 2.40% 2.40% Purchased Services Adjustments $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 Purchased Services Amount $2,272,505 $2,545,218 $2,498,357 $1,128,185 $737,119 $1,100,000 $1,126,400 $1,153,434 $1,181,116 $1,209,463 Supplies and Materials % -6.54% 75.27% % 25.44% % 2.40% 2.40% 2.40% 2.40% Supplies and Materials Adjustments $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 Supplies and Materials Amount $216,028 $201,889 $353,855 $1,583,068 $1,985,793 $1,400,000 $1,433,600 $1,468,006 $1,503,239 $1,539,316 Capital Outlay % % 68.02% 35.81% 20.73% % 0.00% 0.00% 0.00% 0.00% Capital Outlay Adjustments $0 $0 $0 $0 $0 $0 $0 ($700,000) $0 $0 Capital Outlay Amount $295,739 $154,839 $260,157 $353,318 $426,559 $1,200,000 $1,200,000 $500,000 $500,000 $500,000 Other Objects 0.00% % 2.40% 2.40% 2.40% 2.40% 2.40% Other Objects Adjustments $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 Other Objects Amount $0 $232 $232 $0 $411,000 $420,864 $430,965 $441,308 $451,899 $462,745 Non-Capitalized Equipment % 95.29% % 22.82% 0.00% 0.00% 0.00% 0.00% 0.00% Non-Capitalized Equipment Adjustments $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 Non-Capitalized Equipment Amount $0 $19,911 $38,884 $11,662 $14,323 $14,323 $14,323 $14,323 $14,323 $14,323 Termination Benefits 0.00% 0.00% 0.00% 0.00% 0.00% Termination Benefits Adjustments $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 Termination Benefits Amount $0 $0 $0 $0 $0 $0 $0 $0 $0 $ PMA Financial Network, Inc. Page: 56

97 Summary of Major Assumptions Expenditure Assumptions Transportation Fund - Assumptions Purchased Services 59.91% 12.10% % 12.82% -9.50% -7.93% 2.00% 2.00% 2.00% 2.00% Purchased Services Adjustments $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 Purchased Services Amount $3,666,150 $4,109,760 $2,659,549 $3,000,372 $2,715,386 $2,500,000 $2,550,000 $2,601,000 $2,653,020 $2,706,080 Supplies and Materials 64.84% 54.61% 22.61% % -9.31% 2.40% 2.40% 2.40% 2.40% 2.40% Supplies and Materials Adjustments $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 Supplies and Materials Amount $22,286 $34,457 $42,247 $31,079 $28,187 $28,863 $29,556 $30,266 $30,992 $31,736 Capital Outlay 0.00% 0.00% 0.00% 0.00% 0.00% Capital Outlay Adjustments $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 Capital Outlay Amount $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 Other Objects % 2.00% 2.00% 2.00% 2.00% Other Objects Adjustments $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 Other Objects Amount $0 $0 $0 $0 $870,000 $500,000 $510,000 $520,200 $530,604 $541,216 Non-Capitalized Equipment 0.00% 0.00% 0.00% 0.00% 0.00% Non-Capitalized Equipment Adjustments $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 Non-Capitalized Equipment Amount $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 Termination Benefits 0.00% 0.00% 0.00% 0.00% 0.00% Termination Benefits Adjustments $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 Termination Benefits Amount $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 Capital Projects Fund - Assumptions Purchased Services 0.00% % 0.00% 0.00% 0.00% 0.00% 0.00% Purchased Services Adjustments $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 Purchased Services Amount $2,500 $1,123,124 $0 $10,529 $0 $0 $0 $0 $0 $0 Supplies and Materials 0.00% 0.00% 0.00% 0.00% 0.00% Supplies and Materials Adjustments $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 Supplies and Materials Amount $0 $2,189 $0 $0 $0 $0 $0 $0 $0 $0 Capital Outlay % 35.00% % 0.00% 0.00% 0.00% Capital Outlay Adjustments $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 Capital Outlay Amount $0 $0 $113,690 $2,503,616 $2,250,000 $3,037,500 $2,000,000 $2,000,000 $2,000,000 $2,000,000 Other Objects 0.00% 0.00% 0.00% 0.00% 0.00% Other Objects Adjustments $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 Other Objects Amount $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 Non-Capitalized Equipment 0.00% 0.00% 0.00% 0.00% 0.00% Non-Capitalized Equipment Adjustments $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 Non-Capitalized Equipment Amount $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 Termination Benefits 0.00% 0.00% 0.00% 0.00% 0.00% Termination Benefits Adjustments $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 Termination Benefits Amount $0 $0 $0 $0 $0 $0 $0 $0 $0 $ PMA Financial Network, Inc. Page: 57

98 Summary of Major Assumptions Expenditure Assumptions Tort Fund - Assumptions Purchased Services % 0.00% 0.00% 0.00% 0.00% 0.00% Purchased Services Adjustments $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 Purchased Services Amount $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 Supplies and Materials 0.00% 0.00% 0.00% 0.00% 0.00% Supplies and Materials Adjustments $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 Supplies and Materials Amount $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 Capital Outlay 0.00% 0.00% 0.00% 0.00% 0.00% Capital Outlay Adjustments $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 Capital Outlay Amount $276,083 $298,480 $0 $0 $0 $0 $0 $0 $0 $0 Other Objects 0.00% 0.00% 0.00% 0.00% 0.00% Other Objects Adjustments $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 Other Objects Amount $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 Non-Capitalized Equipment 0.00% 0.00% 0.00% 0.00% 0.00% Non-Capitalized Equipment Adjustments $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 Non-Capitalized Equipment Amount $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 Termination Benefits 0.00% 0.00% 0.00% 0.00% 0.00% Termination Benefits Adjustments $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 Termination Benefits Amount $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 Fire Prevention and Safety Fund - Assumptions Purchased Services % 72.88% 57.14% 0.00% 0.00% 0.00% 0.00% Purchased Services Adjustments $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 Purchased Services Amount $0 $197,224 $135,024 $101,229 $175,000 $275,000 $275,000 $275,000 $275,000 $275,000 Supplies and Materials 0.00% 0.00% 0.00% 0.00% 0.00% Supplies and Materials Adjustments $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 Supplies and Materials Amount $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 Capital Outlay 0.00% 0.00% 0.00% 0.00% 0.00% Capital Outlay Adjustments $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 Capital Outlay Amount $0 $0 $896 $0 $0 $0 $0 $0 $0 $0 Other Objects 0.00% 0.00% 0.00% 0.00% 0.00% Other Objects Adjustments $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 Other Objects Amount $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 Non-Capitalized Equipment 0.00% 0.00% 0.00% 0.00% 0.00% Non-Capitalized Equipment Adjustments $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 Non-Capitalized Equipment Amount $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 Termination Benefits 0.00% 0.00% 0.00% 0.00% 0.00% Termination Benefits Adjustments $0 $0 $0 $0 $0 $0 $0 $0 $0 $ PMA Financial Network, Inc. Page: 58

99 General State Aid Worksheet for the Claim Payable in TAX YEAR: 2012 Complete if Subject to PTELL (Tax Caps) Audited ADA 4, Original EAV $2,497,139, Audited ADA 4, Foundation Level = 6, Limiting RATE ADA 4, Original EAV $3,065,980,436 Average of Last 3 Year's ADA 4, Original EAV $2,497,139, OTR ADA used for GSA 4, Adjustments $6,335, Extension Limitation Ratio CPPRT (Rec'd in 2012) $3,104, A Adjusted Real EAV $2,503,475,236 Prior Year EAV used for GSA Calc $2,390,472, Calculation Rate Prior Year EAV*ELR $2,315,889, Available Local Resources $27,421, Available Local Resources per ADA $6, : DHS Low Income Count EAV Used for GSA Calc $2,315,889, Percentage of Foundation Level : DHS Low Income Count : DHS Low Income Count Hold Harmless Base $1,590, District Low Income Concentration Section A - Foundation Formula Section B - Alternate Formula Section C - Flat Grant Formula 10. Foundation Level X ADA $ Line 9 minus FLAT GRANT FORMULA AMOUNT $ Available Local Resources $ Line 13 divided by ($218 x ADA) 12. FOUNDATION FORMULA AMOUNT $ Line 14 times minus Line Amount per ADA $ ALTERNATE FORMULA AMOUNT $1,869, Section D - Poverty Grant If Line 6 <.15 then LIC= GROSS GSA ENTITLEMENT $1,869, Otherwise ((Line 6^2)/2700) GENERAL STATE AID $12,118, Total Adjustments $0 LIC Factor $2,522 Hold Harmless Base $1,590,416 FY2014 Calculated Poverty Grant Amt $10,249,148 Proration Level 89% Loss Due to Proration -$1,333, POVERTY GRANT $10,249, GSA $10,785, PMA Financial Network, Inc. Page: 31

100 General State Aid Worksheet for the Claim Payable in TAX YEAR: 2013 Complete if Subject to PTELL (Tax Caps) Audited ADA 4, Original EAV $2,309,493, Audited ADA 4, Foundation Level = 6, Limiting RATE ADA 4, Original EAV $2,497,139,606 Average of Last 3 Year's ADA 4, Original EAV $2,309,493, OTR ADA used for GSA 4, Adjustments $ Extension Limitation Ratio CPPRT (Rec'd in 2013) $3,262, A Adjusted Real EAV $2,309,493,614 Prior Year EAV used for GSA Calc $2,315,889, Calculation Rate Prior Year EAV*ELR $2,390,461, Available Local Resources $27,512, Available Local Resources per ADA $6, : DHS Low Income Count EAV Used for GSA Calc $2,309,493, Percentage of Foundation Level : DHS Low Income Count : DHS Low Income Count Hold Harmless Base $1,590, District Low Income Concentration Section A - Foundation Formula Section B - Alternate Formula Section C - Flat Grant Formula 10. Foundation Level X ADA $ Line 9 minus FLAT GRANT FORMULA AMOUNT $ Available Local Resources $ Line 13 divided by ($218 x ADA) 12. FOUNDATION FORMULA AMOUNT $ Line 14 times minus Line Amount per ADA $ ALTERNATE FORMULA AMOUNT $1,825, Section D - Poverty Grant If Line 6 <.15 then LIC= GROSS GSA ENTITLEMENT $1,825, Otherwise ((Line 6^2)/2700) GENERAL STATE AID $14,034, Total Adjustments $0 LIC Factor $2,956 Hold Harmless Base $1,590,416 FY2015 Calculated Poverty Grant Amt $12,209,072 Proration Level 83% Loss Due to Proration -$2,385, POVERTY GRANT $12,209, GSA $11,648, PMA Financial Network, Inc. Page: 32

101 General State Aid Worksheet for the Claim Payable in TAX YEAR: 2014 Complete if Subject to PTELL (Tax Caps) Audited ADA 4, Original EAV $2,210,566, Audited ADA 4, Foundation Level = 6, Limiting RATE ADA 4, Original EAV $2,309,493,614 Average of Last 3 Year's ADA 4, Original EAV $2,210,566, OTR ADA used for GSA 4, Adjustments $ Extension Limitation Ratio CPPRT (Rec'd in 2014) $3,100, A Adjusted Real EAV $2,210,566,401 Prior Year EAV used for GSA Calc $2,309,493, Calculation Rate Prior Year EAV*ELR $2,354,066, Available Local Resources $26,310, Available Local Resources per ADA $6, : DHS Low Income Count EAV Used for GSA Calc $2,210,566, Percentage of Foundation Level : DHS Low Income Count : DHS Low Income Count Hold Harmless Base $1,590, District Low Income Concentration Section A - Foundation Formula Section B - Alternate Formula Section C - Flat Grant Formula 10. Foundation Level X ADA $ Line 9 minus FLAT GRANT FORMULA AMOUNT $ Available Local Resources $ Line 13 divided by ($218 x ADA) 12. FOUNDATION FORMULA AMOUNT $ Line 14 times minus Line Amount per ADA $ ALTERNATE FORMULA AMOUNT $1,802, Section D - Poverty Grant If Line 6 <.15 then LIC= GROSS GSA ENTITLEMENT $1,802, Otherwise ((Line 6^2)/2700) GENERAL STATE AID $12,799, Total Adjustments $0 LIC Factor $2,710 Hold Harmless Base $1,590,416 FY2016 Calculated Poverty Grant Amt $10,996,818 Proration Level 83% Loss Due to Proration -$2,175, POVERTY GRANT $10,996, GSA $10,623, PMA Financial Network, Inc. Page: 33

102 General State Aid Worksheet for the Claim Payable in TAX YEAR: 2015 Complete if Subject to PTELL (Tax Caps) Audited ADA 4, Original EAV $2,155,196, Audited ADA 4, Foundation Level = 6, Limiting RATE ADA 4, Original EAV $2,210,566,401 Average of Last 3 Year's ADA 4, Original EAV $2,155,196, OTR ADA used for GSA 4, Adjustments $ Extension Limitation Ratio CPPRT (Rec'd in 2015) $3,100, A Adjusted Real EAV $2,155,196,577 Prior Year EAV used for GSA Calc $2,210,566, Calculation Rate Prior Year EAV*ELR $2,266,714, Available Local Resources $25,729, Available Local Resources per ADA $5, : DHS Low Income Count EAV Used for GSA Calc $2,155,196, Percentage of Foundation Level : DHS Low Income Count : DHS Low Income Count Hold Harmless Base $1,590, District Low Income Concentration Section A - Foundation Formula Section B - Alternate Formula Section C - Flat Grant Formula 10. Foundation Level X ADA $ Line 9 minus FLAT GRANT FORMULA AMOUNT $ Available Local Resources $ Line 13 divided by ($218 x ADA) 12. FOUNDATION FORMULA AMOUNT $ Line 14 times minus Line Amount per ADA $ ALTERNATE FORMULA AMOUNT $1,866, Section D - Poverty Grant If Line 6 <.15 then LIC= GROSS GSA ENTITLEMENT $1,866, Otherwise ((Line 6^2)/2700) GENERAL STATE AID $11,826, Total Adjustments $0 LIC Factor $2,505 Hold Harmless Base $1,590,416 FY2017 Calculated Poverty Grant Amt $9,960,370 Proration Level 83% Loss Due to Proration -$2,010, POVERTY GRANT $9,960, GSA $9,816, PMA Financial Network, Inc. Page: 34

103 General State Aid Worksheet for the Claim Payable in TAX YEAR: 2016 Complete if Subject to PTELL (Tax Caps) Audited ADA 4, Original EAV $2,131,316, Audited ADA 4, Foundation Level = 6, Limiting RATE ADA 4, Original EAV $2,155,196,577 Average of Last 3 Year's ADA 4, Original EAV $2,131,316, OTR ADA used for GSA 4, Adjustments $ Extension Limitation Ratio CPPRT (Rec'd in 2016) $3,100, A Adjusted Real EAV $2,131,316,663 Prior Year EAV used for GSA Calc $2,155,196, Calculation Rate Prior Year EAV*ELR $2,231,706, Available Local Resources $25,478, Available Local Resources per ADA $5, : DHS Low Income Count EAV Used for GSA Calc $2,131,316, Percentage of Foundation Level : DHS Low Income Count : DHS Low Income Count Hold Harmless Base $1,590, District Low Income Concentration Section A - Foundation Formula Section B - Alternate Formula Section C - Flat Grant Formula 10. Foundation Level X ADA $27,583, Line 9 minus FLAT GRANT FORMULA AMOUNT $ Available Local Resources $25,478, Line 13 divided by ($218 x ADA) 12. FOUNDATION FORMULA AMOUNT $2,104, Line 14 times minus Line Amount per ADA $ ALTERNATE FORMULA AMOUNT $0.00 Section D - Poverty Grant If Line 6 <.15 then LIC= GROSS GSA ENTITLEMENT $2,104, Otherwise ((Line 6^2)/2700) GENERAL STATE AID $11,468, Total Adjustments $0 LIC Factor $2,370 Hold Harmless Base $1,590,416 FY2018 Calculated Poverty Grant Amt $9,364,377 Proration Level 83% Loss Due to Proration -$1,949, POVERTY GRANT $9,364, GSA $9,519, PMA Financial Network, Inc. Page: 35

104 General State Aid Worksheet for the Claim Payable in TAX YEAR: 2017 Complete if Subject to PTELL (Tax Caps) Audited ADA 4, Original EAV $2,138,690, Audited ADA 4, Foundation Level = 6, Limiting RATE ADA 4, Original EAV $2,131,316,663 Average of Last 3 Year's ADA 4, Original EAV $2,138,690, OTR ADA used for GSA 4, Adjustments $ Extension Limitation Ratio CPPRT (Rec'd in 2017) $3,100, A Adjusted Real EAV $2,138,690,330 Prior Year EAV used for GSA Calc $2,131,316, Calculation Rate Prior Year EAV*ELR $2,228,078, Available Local Resources $25,556, Available Local Resources per ADA $5, : DHS Low Income Count EAV Used for GSA Calc $2,138,690, Percentage of Foundation Level : DHS Low Income Count : DHS Low Income Count Hold Harmless Base $1,590, District Low Income Concentration Section A - Foundation Formula Section B - Alternate Formula Section C - Flat Grant Formula 10. Foundation Level X ADA $ Line 9 minus FLAT GRANT FORMULA AMOUNT $ Available Local Resources $ Line 13 divided by ($218 x ADA) 12. FOUNDATION FORMULA AMOUNT $ Line 14 times minus Line Amount per ADA $ ALTERNATE FORMULA AMOUNT $1,897, Section D - Poverty Grant If Line 6 <.15 then LIC= GROSS GSA ENTITLEMENT $1,897, Otherwise ((Line 6^2)/2700) GENERAL STATE AID $12,313, Total Adjustments $0 LIC Factor $2,566 Hold Harmless Base $1,590,416 FY2019 Calculated Poverty Grant Amt $10,415,790 Proration Level 83% Loss Due to Proration -$2,093, POVERTY GRANT $10,415, GSA $10,219, PMA Financial Network, Inc. Page: 36