Minnetonka Independent School District 276 FY16 Budget Synopsis General Fund Sources of Revenue

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General Fund Sources of Revenue Source General Education Revenue-Resident $ 46,230,536 General Education Revenue-Open Enrolled $ 19,138,551 Categorical Revenue $ 15,786,030 Miscellaneous Revenue $ 2,185,391 Federal Revenue $ 1,880,654 Operating Referendum Revenue $ 13,673,679 Local Optional Revenue $ 4,739,430 Total Revenue $103,634,271

General Fund Uses of Revenue Source Salaries & Wages $ 67,993,763 Benefits $ 21,044,118 Purchased Services $ 5,180,014 Supplies $ 4,020,953 Transportation $ 4,913,349 Transfers $ 403,492 (Transfer from OPEB Trust) $ -805,867 Total Expenses $102,749,822

General Fund Year End Balance June 30, 2016 Beginning Fund Balance July 1, 2015 $ 18,028,776 Surplus of Revenues Over Expenses $ 884,449 Transfer to Operating Capital $ -528,275 Ending Fund Balance June 30, 2016 $ 18,384,950 17.9% Assigned and Non-Spendable Fund Balances $ 2,337,281 Unassigned Fund Balance $ 16,047,669 15.6%

Operating Capital and Health & Safety Fund Budget Revenues & Transfers In $ 6,131,016 Expenses $ 6,098,168 Surplus of Revenues over Expenses $ 32,848 Beginning Fund Balance July 1, 2015 $ 187,402 Ending Fund Balance June 30, 2016 $ 220,250

Athletic Equipment Program Budget Revenues from Fees $ 175,000 Expenses from Athletic Programs High School $ 87,500 Expenses from Athletic Programs Middle Schools $ 87,500 Total Expenses $ 175,000 Surplus of Revenues over Expenses $ 0 Beginning Fund Balance July 1, 2015 $ 309,973 Ending Fund Balance June 30, 2016 $ 309,973

Food Service Fund Budget Revenues from Meal and Food Sales $ 4,497,689 Revenues from State and Local Sources $ 132,768 Revenues from Federal Sources $ 805,215 Total Revenues $ 5,435,672 Expenses from Operations $ 5,199,180 Expenses from Equipment Replacement $ 136,800 Total Expenses $ 5,335,980 Surplus of Revenues over Expenses $ 99,692 Beginning Fund Balance July 1, 2015 $ 226,042 Ending Fund Balance June 30, 2016 $ 325,734

Community Education Fund Budget Revenues from Fees $ 7,175,419 Revenues from Property Taxes and Interest $ 951,896 Revenues from State Aid $ 318,589 Total Revenues $ 8,554,904 Expenses for Operations $ 8,397,992 Surplus of Revenues over Expenses $ 47,912 Beginning Fund Balance July 1, 2015 $ 1,575,816 Ending Fund Balance June 30, 2016 $ 1,623,728

Aquatics Program Budget Revenues from Fees $ 700,057 Revenues from Pool Rental $ 4,500 Revenues from Concessions and Fund Raisers $ 264,000 Total Revenues $ 968,557 Operational Expenses $ 785,404 Chargeback to General Fund $ 183,153 Total Expenses $ 968,557 Surplus of Revenues over Expenses $ 0 Beginning Fund Balance July 1, 2015 $ 0 Ending Fund Balance June 30, 2016 $ 0

Capital Projects Technology Fund Budget Revenues from Property Tax Levies $ 4,903,912 Expenses for Technology $ 5,376,522 Deficit of Revenues to Expenses $ -472,610 Beginning Fund Balance July 1, 2015 $ 530,211 Ending Fund Balance June 30, 2016 $ 57,601

Capital Projects Long Term Maintenance Fund Budget Revenues from Long Term Maintenance Bonds $ 4,000,000 Expenses for Long Term Maintenance Projects $ 5,595,000 Deficit of Revenues to Expenses $ -1,595,000 Beginning Fund Balance July 1, 2015 $ 3,353,490 Ending Fund Balance June 30, 2016 $ 1,758,490

Debt Service Fund Budget Revenue from Property Tax Levy $ 7,249,723 Bond Payment Expenses & Transfer Out $ 7,991,198 Deficit of Revenues to Expenses $ -741,475 Beginning Fund Balance July 1, 2015 $ 3,950,653 Ending Fund Balance June 30, 2016 $ 3,209,178

Self Insured Health & Dental Insurance Fund Budget Revenues from Premiums $ 12,189,780 Expenses for Health & Dental Insurance Claims $ 11,062,000 Expenses for Self Insurance Plan Administration $ 1,081,450 Total Expenses $ 12,143,450 Surplus of Revenues to Expenses $ 46,330 Beginning Fund Balance July 1, 2015 $ 5,414,801 Ending Fund Balance June 30, 2016 $ 5,461,131

Other Post Employment Benefit Debt Service Fund Budget Revenues from Property Tax Levy & Transfer In $ 1,416,144 Bond Payment Expenses $ 8,955,745 Deficit of Revenues to Expenses $ -7,539,601 Beginning Fund Balance July 1, 2015 $ 7,539,601 Ending Fund Balance June 30, 2016 $ 0

Arts Center Program Budget Revenues from Performances $ 366,500 Transfer from General Fund $ 403,492 Total Revenues $ 769,992 Operational Expenses $ 769,992 Surplus of Revenues to Expenses $ 0 Beginning Fund Balance July 1, 2015 $ 0 Ending Fund Balance June 30, 2016 $ 0

Tonka Dome Program Budget Revenues from Field Rentals $ 278,884 Dome Operations Expenses $ 118,502 Bond Payment $ 160,382 Total Expenses $ 278,884 Surplus of Revenues to Expenses $ 0 Beginning Fund Balance July 1, 2015 $ 0 Ending Fund Balance June 30, 2016 $ 0 Dome Trust Account Balance $ 268,629

Pagel Activity Center Program Budget Revenues from Ice Arena Rental Contract with MYHA $ 100,000 Revenues from FY14 Expense Reimbursement Levy $ 357,582 Total Revenues $ 457,582 Expenses from Rink Operations $ 381,040 Surplus of Revenues to Expenses $ 76,542 Beginning Fund Balance July 1, 2015 $ -642,990 Ending Fund Balance June 30, 2016 $ -566,548

Other Post Employment Benefits Trust Fund Budget Revenues from Investment Earnings $ 805,867 Expenses for Retiree Health Insurance Benefits $ 805,867 Surplus of Revenues to Expenses $ 0 Beginning Fund Balance July 1, 2015 $ 21,225,642 Ending Fund Balance June 30, 2016 $ 21,225,642

Fiduciary Funds Budget Revenues from Donations $ 1,300,000 Expenses for Purposes Specified By Donators $ 1,300,000 Surplus of Revenues to Expenses $ 0 Beginning Fund Balance July 1, 2015 $ 1,286,228 Ending Fund Balance June 30, 2016 $ 1,286,228