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Budget Revision No. 1

Fiscal Year 2014-15

Kenneth Hicks, CFO

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• Each year, in accordance with A.R.S. 15-905, ADE provides an analysis if a district is required to revise their budget.

• Anytime a budget is revised, a public hearing is required.

Why

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Adopted Budget $ 191,082,270 Increase $ 1,091,108

Revised Budget $ 192,173,378

Revisions due to:• Prior Year ADM Adjustment• Prior Year Group B Adjustment• Carry Forward Adjustment to Actual

Maintenance and Operations

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Adopted Budget $ 8,090,969 Decrease $ 1,033,312

Revised Budget $ 7,057,657

Revisions due to:• Prior Year ADM Adjustment• Legislative Adjustment• Carry Forward Adjustment to Actual• Formerly Unrestricted Capital Outlay

District Additional Assistance

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Adopted Budget $ 12,450,970 Increase $ 1,904,667

Revised Budget $ 14,355,637

Revisions due to:• Prior Year ADM Adjustment• Carry Forward Adjustment to Actual

Classroom Site Fund

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In addition, many funds have been adjusted to align to current expected spending; such as:

Food Service, Grants, Student Success, Civic Center, Auxiliary Operations, Gifts and Donations

Other Fund Changes

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Components:• Legislative Corrections• ADM Adjustments • Budget Balance Carry Forward Adjustments

Overall Budget Changes:• M & O $ 1,091,108• District Add’l Assistance $ (1,033,312)• Classroom Site Fund $ 1,904,667• Soft Capital Fund Eliminated

Summary

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QUESTIONS?