2-9-10 PMA Budget Presentation

Belvidere Community Unit School
District 100
Financial Planning Program
Presented by:
Scott Smith
PMA Financial Network, Inc.
February 9, 2010

Integrity Commitment Performance

Data Elements
Five Years of Audited Annual Financial Reports
FY2010 Budget
Tax Levy / Extensions
Equalized Assessed Valuation
Maximum Tax Rates
Enrollment
Staffing Ratios
Compensation and Benefits Provided
Belvidere CUSD 100 All assumptions provided by District

2 Copyright 2010 PMA Financial Network, Inc. Presented February 9, 2010

Revenue
FY 2010 Budget
Revenue by Source – Operating Funds

Federal
Other State 14%
8%

General State Aid Levy
23% 43%

Other Local
12%

Source: District FY10 Budget



Revenue Assumptions
Revenue
Equalized Assessed Valuation (EAV) Growth
2009 Levy – 1.5% decline in total EAV
$14.2 million New Property
2.8% decline in existing EAV (reassessment)
2010 Levy – 7.5% decline in total EAV
$5 million New Property
8% decline in existing EAV (reassessment)
General State Aid
Foundation Level currently $6,119
FY2011 - $160 decrease assumed
FY2012 and future years - $150 increase assumed each year
Categorical State Funding
FY2010 – Assumes two payments
FY2011 through FY2015 – Assumes four payments



Revenue A ssumptions
Total EAV % Change
15%

13.8%
13.3%
10%
10.4%

5% 6.2%

2.8% 2.8%
0%
0.8%
-1.5%

-5% -7.5% -7.3%

-10%
2005 2006 2007 2008 2009 2010 2011 2012 2013 2014

Actual Projected

Source: District Projections



New Growth (In Millions)
Millions
$60.0

$57.3 $57.2
$50.0

$40.0
$40.0
$30.0
$29.3
$20.0

$10.0 $14.2

$7.0 $7.0 $7.0 $7.0
$0.0 $5.0
2005 2006 2007 2008 2009 2010 2011 2012 2013 2014

Actual Projected




Existing EAV % Change

8%

6%
6.6%
6.0%
4% 5.1%

2% 3.3%
2.0% 2.0%
0%
-2.8% 0.0%
-2%

-4%

-6% -8.0% -8.0%
-8%
2005 2006 2007 2008 2009 2010 2011 2012 2013 2014

Actual Projected




Consumer Price Index (CPI) - Levy Years

5.0%
4.5%

4.0%
4.1%
3.5%
3.0% 3.4%
3.3%
2.5%
2.7%
2.5% 2.5% 2.5% 2.5% 2.5% 2.5%
2.0%
1.5%
1.0%

0.5% 0.1%

0.0%
2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015

Actual Projected




General State Aid
Millions
$30

$25 $26.3
$25.8

$22.7 $22.3 $22.9
$20 $21.5 $21.0
$19.7 $19.9
$18.2
$15
$16.1

$10

$5

$0
2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015

Actual Projected




Expenditures
FY 2010 Budget
Expenditures by Object – Operating Funds

Capital Outlay
1% Other Objects
5%
Supplies And Materials
6%

Purchased Services
24%

Salary Costs
49%

Benefits
15%

Source: District FY10 Budget



District Expenditure A ssumptions
Expenditures
Salaries
FY2011 – No wage increases
FY2012 through FY2015 – 2% to 3% (CPI increases)
Medical Insurance
FY2011 and future years – 10% increase each year
Purchased Services, Supplies, Capital Outlay
CPI increase each year
One-time exceptions accounted for accordingly



District Enrollment A ssumptions
Enrollment History and Projections

9,000 8901 8931 8856 8767
8651 8680 8593 8507
8370 8422
8,000 7982

7,000

6,000

5,000

4,000

3,000

2,000

1,000

0
2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015

Actual Projected




District Staffing A ssumptions

FTE Retirees Replaced Retirees Staff Change
FY - 2010 581.0 11
FY - 2011 571.2 11 11 (10)
FY - 2012 565.5 16 11 (6)
FY - 2013 559.8 20 16 (6)
FY - 2014 554.2 2 20 (6)
FY - 2015 548.7 0 2 (6)



Operating Funds – Projected Deficits
Re ve nue vs. Expe nditure s Analysis

$100,000,000

$80,000,000

$60,000,000

$40,000,000

$20,000,000

$0
($4,135,179) ($3,745,280) ($1,108,524) ($2,030,419)
($5,341,357) ($4,972,947)
($20,000,000)
FY 2010 FY 2011 FY 2012 FY 2013 FY 2014 FY 2015
Revenue Expenditures Excess Deficit



Operating Funds – Projected A ggregate Fund Balances
Fund Balance

$35,000,000
$31,749,748

$30,000,000
$26,408,391
$25,000,000
$21,435,444

$20,000,000 $17,690,164
$16,581,640
$14,551,221
$15,000,000

$10,000,000

$5,000,000

$0
FY 2010 FY 2011 FY 2012 FY 2013 FY 2014 FY 2015



Operating Funds – Projected A ggregate Fund Balances
2010 2011 2012 2013 2014 2015
$35,000,000
$31,749,748

$30,000,000
$26,408,391

$25,000,000
$21,435,444
$21,433,610

$20,000,000 $17,690,164
$16,581,640

$15,088,318 $14,551,221
$15,000,000

$9,789,926
$10,000,000

$5,530,274

$5,000,000
$3,597,561
$1,249,691

$0
Educational Operations and Transportation IMRF Working Cash Tort
Maintenance

2010 2011 2012 2013 2014 2015 FY-End Balances Low-Point Balance



Disclaimer
The information contained herein is solely intended to suggest/discuss potentially applicable financing applications and is not intended
to be a specific buy/sell recommendation, nor is it an official confirmation of terms. Any terms discussed herein are preliminary until
confirmed in a definitive written agreement.

The analysis or information presented herein is based upon hypothetical projections and/or past performance that have certain
limitations. No representation is made that it is accurate or complete or that any results indicated will be achieved. In no way is past
performance indicative of future results. Changes to any prices, levels, or assumptions contained herein may have a material impact on
results. Any estimates or assumptions contained herein represent our best judgment as of the date indicated and are subject to change
without notice. Examples are merely representative and are not meant to be all-inclusive.

The information set forth herein was gathered from sources which we believe, but do not guarantee, to be accurate. Neither the
information, nor any options expressed, constitute a solicitation by us for purposes of sale or purchase of any securities or commodities.
Investment/financing decisions by market participants should not be based on this information.

You should consider certain economic risks (and other legal, tax, and accounting consequences) prior to entering into any type of
transaction with PMA Securities, Inc. or PMA Financial Network, Inc. It is imperative that any prospective client perform its own
research and due diligence, independent of us or our affiliates, to determine suitability of the proposed transaction with respect to the
aforementioned potential economic risks and legal, tax, and accounting consequences. Our analyses are not and do not purport to be
appraisals of the assets, or business of the District or any other entity. PMA makes no representations as to the actual value which may
be received in connection with a transaction nor the legal, tax, or accounting effects of consummating a transaction. PMA cannot be
relied upon to provide legal, tax, or accounting advice. You should seek out independent and qualified legal, tax, and accounting advice
from outside sources.

If posted on a webpage, this information has been prepared for informational and educational purposes and does not constitute a
informational
solicitation to purchase or sell securities, which may be done only after client suitability is reviewed and determined. Services offered
only Services
by PMA Securities, Inc. and this registered representative presenter, in particular, are available only in the following state: IL. This
presenter,
information is not an advertisement of services available in any state other than those listed above.



2-9-10 PMA Budget Presentation

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