School  District  of  Cheltenham  Township  2010-­2011  Final  Budget  For  Adoption  June  8,  2010  

   

                               

 

2000  Ashbourne  Rd  Elkins  Park,  PA  19027  

Montgomery  County,  Pennsylvania  www.cheltenham.org  

INTRODUCTORY SECTION

SCHOOL DISTRICT OF CHELTENHAM TOWNSHIP Elkins Park, PA 19027

Organization

Board of Directors

Tina Viletto ........................................................................................................................... .President

Stephanie H. Gray ................................................................................................................. .Vice President

Theresa P. Austin .................................................................................................................. .Member

James F. Butt......................................................................................................................... .Member

Elizabeth A. Cataldi .............................................................................................................. .Member

Marc Lieberson ..................................................................................................................... .Member

D. Bonnie Perlmutter ............................................................................................................ .Member

David M. Rackow ................................................................................................................. .Member

Fredericka E. Waugh............................................................................................................. .Member

Karen Washington (non voting)............................................................................................ .Treasurer

Eileen Wolf (non voting) ...................................................................................................... .Secretary

Administration Building 2000 Ashbourne Road Elkins Park, PA 19027

(215) 886-9500 (215) 884-6929 (Fax)

Cheltenham High School 500 Rices Mill Road Wyncote, PA 19095

(215) 517-3700 (215) 517-3771 (Fax)

Cedarbrook Middle School 300 Longfellow Avenue

Wyncote, PA 19095 (215) 881-6420 (215) 576-5610 (Fax)

Elkins Park School

8149 New Second Street Elkins Park, PA 19027

(215) 881-4941 (215) 635-7492 (Fax)

Cheltenham Elementary School 7853 Front Street

Cheltenham, PA 19012 (215) 517-4400 (215) 635-7548 (Fax)

SCHOOL DISTRICT OF CHELTENHAM TOWNSHIP Elkins Park, PA 19027

Glenside Elementary School (Modular) 8149 New Second Street Elkins Park, PA 19027

(215) 881-6440 (215) 886-6797 (Fax)

Myers Elementary School 7609 Montgomery Avenue

Elkins Park, PA 19027 (215) 517-4540 (215) 517-4543 (Fax)

Wyncote Elementary School

333 Rices Mill Road Wyncote, PA 19095

(215) 517-4601 (215) 885-7613 (Fax)

District Administration (Cabinet & Principals)

Dr. William N. Kiefer ........................................................................................................... .Superintendent

Dr. Darlene G. Davis............................................................................................... .Assistant Superintendent

Matthew J. Malinowski..................................................................................... .Director of Business Affairs

Dr. Ray Bavi ..................................................................................................... .Director of Support Services

Lynne David.................................................................................................... .Director of Human Resources

Doris Galante .................................................................................................. .Director of Special Education

Anne Spector......................................................................................................Director of Communications

Sue Tischler.................................................................................................................. .Director of Education

Dr. Elliott Lewis..................................................................................... .Principal, Cheltenham High School

Iris Parker .............................................................................................Principal, Cedarbrook Middle School

Carol Nejman ....................................................................................................Principal, Elkins Park School

J. Mia Kim................................................................................... .Principal, Cheltenham Elementary School

Bruce Williams ................................................................................ .Principal, Glenside Elementary School

Andrew Kuhn....................................................................................... .Principal, Myers Elementary School

Crystal Clark .................................................................................... .Principal, Wyncote Elementary School

SCHOOL DISTRICT OF CHELTENHAM TOWNSHIP Elkins Park, PA 19027

Consultants and Advisors

Independent Auditors

Maillie, Falconiero & Company, LLP Certified Public Accountants & Business Counselors

P.O. Box 680 Oaks, PA 19456-0680

Legal Counsel

Wisler Pearlstine, LLP Office Court at Walton Point

484 Norristown Road, Suite 100 Blue Bell, PA 19422-2326

Financial Advisors for Most Recent Bond Issue

Public Financial Management, Inc. One Keystone Plaza, Suite 300

N. Front & Market Streets Harrisburg, PA 17101-2044

SCHOOL DISTRICT OF CHELTENHAM TOWNSHIP ADMINISTRATION BUILDING

2000 Ashbourne Road ●Elkins Park, PA 19027-1100 ●215-886-9500 ●Fax: 215-884-6929

WILLIAM N. KIEFER, Ed.D., Superintendent DARLENE G. DAVIS, Ed.D., Assistant Superintendent

June 8, 2010 Board of School Directors School District of Cheltenham Township 2000 Ashbourne Road Elkins Park, PA 19027 Dear School Directors:

Attached, please find the proposed operating budget for the 2010-2011 fiscal year for the School District of Cheltenham Township. The District Superintendent and the Director of Business Affairs, to the extent possible, assume responsibility for data accuracy and completeness. This budget presents both the District’s financial and operations plan, concomitant with all necessary disclosures. Budget Presentation The School District of Cheltenham Township strategically budgets an annual spending plan that provides quality instruction and educational programs for all students while managing the District’s resources in a prudent manner. The development, review, and consideration of the 2010-2011 Governmental Fund Budgets (the General Fund Budget, the Capital Projects Fund Budget, and the Enterprise Fund Budget (inclusive of the Food Service Budget) were completed with a detailed and exhaustive review of every revenue and expenditure item within the context of the District’s mission statement, strategic plan, annual goals, and financial policies.

The economic recession throughout the world created a serious issue for our District in terms of how to fund existing programs with strained revenue sources. Frozen credit markets created many business failures resulting in employee layoffs and falling home sales and prices. These economic conditions and the Federal Government’s response resulted in falling interest rates and a crisis on Wall Street. While the District’s investment portfolio is conservative and safe, the falling interest rates, lower salaries for our residents, and slower-paced home sales have all resulted in less revenue in the 2009-10 and subsequently reduced projections for 2010-11. On the expenditure side of our budget, the administration responded to this funding crisis by proposing a year with reductions to expenditures in certain areas with little to no impact on programs. Members of the administration carefully reviewed reductions with administrators and staff to ensure programs could be maintained while realigning resources. The Superintendent, Assistant Superintendent, and Director of Business Affairs provided community outreach explaining the 2010-2011 budget in the local television channel. The following pages contain budget information as prepared for the Board of School Directors and our community. We welcome the opportunity to present and discuss operational plans and the related financial impact with all interested parties. Interaction among vested constituencies has focused on

operational and programmatic improvements aimed at providing a quality education to the students of the School District of Cheltenham Township. The primary purpose in the presentation of data related to the budget is to maximize the quality of information to our community relative to the District’s educational programs and services for the 2010-2011 fiscal year. The material in the budget document includes information that has been proposed by the members of the School District of Cheltenham Township Board of School Directors, district administration, community members, and staff. Mission Statement, Goals, and Strategic Plan The MISSION of the School District of Cheltenham Township is as follows: drawing on its cultural richness, creativity, and tradition of scholastic excellence, the School District of Cheltenham Township strives to nurture each child through a wealth of academic endeavors and community partnerships that provide the skills and vision needed to lead a productive and meaningful life beyond our classroom walls. District Goals for 2009-2010 The following district goals have been established for the current school term. Individual administrative goals are linked directly to those established by the District. District goals for 2009-2010 are targeted for completion by June 30, 2010. District goals are as follows:

1. Establish curricular and instructional precision 2. Establish a school environment and climate of excellence 3. Create systems for continuous improvement in policies, procedures, and practices 4. Consolidate academic and operational gains

STRATEGIC GOALS

The current district strategic plan was finalized on September 2008. In the fall of 2007 the district conducted a series of on-going action team meetings from which they developed a new strategic plan effective in 2008. A climate survey was initiated in May 2010 with a community meeting on the status of the strategic plan in June 2010.

Budget Process and Allocation of Resources The District engages in a comprehensive budget development process that is comprised of five phases: planning, preparation, adoption, implementation, and evaluation. The budget process is driven by two (2) primary objectives that include providing every child in the District with an appropriate educational program while maximizing the utilization of available resources.

Planning

→ Preparation → Adoption → Implementation → Evaluation

The budget planning process is initiated in September prior to the beginning of the fiscal year when the Director of Business Affairs develops the budget calendar. The budget calendar includes all important activities in the budgeting process; the dates on which seminal financial decisions are scheduled to be made; and the person(s) responsible for providing input. These budget preparatory steps and related processes provide the Board of School Directors and targeted staff with input into the budget process (and thus a vested interest in budget preparation). The preparation of the budget is the process of defining service levels to include the course offerings based on student enrollment projections concomitant with the allocation of District resources to address staffing needs while estimating expenditures, and to support programs and services in a fiscally sound fashion. The preliminary budget for the District is submitted to the Board in January for their collective review and input. Following the January meeting, the Board considers public input and comment on the financial plan to fund the District’s educational programs and related services. Preliminary adoption occurs in February. A proposed budget is presented in May. The final adoption of the budget occurs in June. The implementation of the approved financial plan is accomplished through the established budgetary and management procedures. Budget administration and management is the process of regulating expenditures throughout the fiscal year to ensure that spending does not exceed authorized amounts and that designated funds are used for intended, proper and legal purposes. The management of the budget is accomplished in a variety of ways: monitoring program implementation; controlling expenditures; tracking revenue receipts; making corrections in expenditure allocations to reflect cost fluctuations, service levels or plans; and reporting to the Board and public on fiscal operations. The final step in the budget process is the evaluation of the financial plan. The administration of operational expenditures for the year are set forth annually in the District’s Year-End Audit and Annual Financial Report filed with the PA Department of Education. This rigorous budgeting process ensures that taxpayers’ monies are expended in a fiscally responsible fashion within the goal of achieving the District’s mission. District Initiatives The challenges facing district administration in developing the 2010-2011 budget included addressing staffing needs, educational program mandates and the facility requirements of the District with projected a enrollment of 4457 students for the 2010-2011 school term. In order to plan for the facility needs of the District, the School Board completed a district wide Facility Study culminating in May 2010 with an effort to study the capacity needed to accommodate the student population; the educational program requirements required for the delivery of services; and the infrastructure of existing facilities.

2010-2011 Building Enrollment

Grade 2005-06 2006-07 2007-08 2008-09 2009-10 2010-11

K-4 1,532 1,490 1,428 1,564 1,553 1,623 5-6 708 680 680 619 684 682 7-8 769 729 674 627 709 686 9-12 1,736 1,681 1,583 1,454 1,472 1,466

Total 4,745 4,580 4,365 4,264 4,418 4,457 The above chart represents enrollment comparisons for the past five years. Enrollment trends indicate enrollment is projected to slightly increase. All allocations for building budgets are formulated and staff resources determined according to our enrollment forecast. The district projects enrollments based upon available information from the Pennsylvania Department of Education, live birth records, and census information in consultation with an enrollment projection report prepared by DeJong Healy in March 2010. Personnel Resource Changes The budget includes an increase of 5 full-time staff positions and 9 part-time positions.

2007-08 2008-09 2009-10 Reductions

2010-11 Additions

2010-11 Total Staff

2010-11 Professional 407 409 420 -4 3 419 Classified Staff 200 219 260 -11 11 260

Total* 607 628 680 -15 14 679 *Of the total positions approximately 10% are part-time. Professional Staff Allocation by Building

The proposed professional staffing increases represent minimal increments given recent

enrollment increases and program needs; however, accounting for budget reductions in staff, there is a net reduction of 1 professional staff position. Summary of Budgets for All Funds The following budgets are included in the District’s finance and operations plan: all governmental funds including the General Fund Budget; the Capital Projects Fund Budget; the Capital Reserve Fund, the enterprise fund; and the Food Service Fund. The following schedules present a comparison of the proposed expenditures for all Governmental and Enterprise Fund budgets for the current and prior year.

Total Budgets for All Government Funds Budget Budget % Fund 2009-10 2010-11 Change General Fund $ 94,430,144 $100,549,764 6% Capital Reserve Fund School Code does not require a budget Capital Projects Fund School Code does not require a budget _______________________________________________________________________ Total Government Fund Expenditures $ 94,430,144 $100,549,764 6% Budget Budget % Enterprise Fund 2009-10 2010-11 Change Food Service Fund $ 1,605,700 $ 1,594,097 (1%)

The District’s Food Service Fund (enterprise fund type) is primarily funded through the sale of meals. The District also receives both state and federal financial support for the Food Service operations in the form of donated commodities and cash subsidies. Despite the uncertainty of this funding source given the discussions at the national level, the District has not changed assumptions about the operation of the School Lunch program. Accordingly, federal sources of revenue to support the operation of the School Lunch program are included in the proposed Enterprise Fund budget. The proposed 2010-2011 Food Service budget will not require an increase in breakfast or lunch prices to maintain self-sustaining operations. It is important to note that Pennsylvania School Code does not require the adoption of a food service budget. However, the district adopts one to ensure program needs are met with no general operating contribution. Analysis of Proposed Budget – General (Operating) Fund The General (Operating) Fund is intended to finance instructional programs and daily operations that support those programs. The education of students is a labor-intensive enterprise that is reflected in the personnel costs. The workforce of the District is determined by the staffing policies and guidelines of the Board on the basis of projected student enrollment and curriculum requirements. Personnel costs are based on conditions of employment established by collective bargaining agreements. For the 2010-2011 fiscal year, salaries are budgeted to consume 48% of total expenditures in the General (Operating) Fund and, consistent with prior years, accounts for the largest part of the operating budget. Total salaries are projected to increase 2.09%, which provides for increases in compensation for existing employees as well as proposed additional positions. The total increase in salary accounts for $3,884,656 or 63% of the $6,119,620 proposed increase in the 2010-2011 operating budget. For 2010-2011 the total budget for benefits is projected to increase 12% or $2,071,725. Employer Contributions for Social Security, Tuition Reimbursement, and Workman’s compensation as a whole will be held in line with 2009-2010 budget allocations. PSERS contributions will increase from 4.78% to

8.22% (a 72% increase). The district receives contributions toward medical insurance from all staff to offset a portion of the overall medical costs.   The district’s total operating expenditures are projected to increase by $1,912,032 or 7.61%. Operating expenditures include transportation, out-of-district placement, charter schools, books, supplies and equipment. In 2010-2011, the district will implement reductions in many of these areas to include the migration to an electronic purchasing program, decreased paper usage, and other various modifications with no programmatic impact. The increase in this area represents 31% of the overall budgeted increase for 2010-2011. The majority of the cost increase in this area are mandates for pupil placement, transportation, and facility expenditures. The district’s total debt service is projected to decrease from 2009-2010 to 2010-2011 by ($269,688) or (5%). This decrease is due to the refinancing of a portion of the district’s outstanding debt service whereby the district took advantage of market conditions to achieve over $315,000 in cost savings in May 2010. A summary schedule of operating expenditures by object (expenditure category) is presented below: Budget Budget % Object 2009-10 2010-11 Change Salaries & Benefits $ 61,943,721 $ 67,900,102 9.6 % Operating Expenses $ 25,124,867 $ 27,036,899 7.6 % Debt Service $ 5,882,451 $ 5,612,763 (4.6 %) Total General Fund Expenditures $ 92,951,039 $100,549,764 8%

General Fund Expenditures

(Comparison of Total Expenditures of Current Budget)

2010-2011 Expenditure Reductions It was necessary for the administration to explore and implement numerous expenditure reductions for 2010-2011. The following chart details such reductions. It is expected that the reductions will have no impact on program delivery.

REDUCTION

AMOUNT

Reduction in paper usage at buildings $1,000 Elimination of direct deposit stubs and migration to “E stubs” $1,500 Examine individual printers/print management $2,000 Reduce various operational areas of building budgets $5,000 Improve efficiencies in contract administration of pupil services $5,000 Restructure a BEC position at administration building $15,000 Reduce 2 lunch aide positions at the high school $15,000 Implement technology software to reduce energy costs $18,000 Reconfigure extra duty/extra pay units and positions $18,000 Demote district-wide media teacher position $20,000 Demote 12 month psychologist to 10 month position $20,000 Demote special education support assistant positions $30,000 Reduce 1 on 1 high school aide position $30,000 Eliminate Twilight Program Coordinator $50,000 Transfer communication budget allocation to grants and partnerships $50,000 Restructure 2 professional employees to one-time job sharing $50,000 Demote dental hygienist/high school ISS position $50,000 Demote 2 high school business education positions $100,000 Demote curriculum associate positions $100,000 Eliminate Unified Arts Department Chair position $120,000 Reduce estimates for technology projects $125,000 Reduce new staffing needs from preliminary budget $130,000 Reduce debt service payments through refinancing $150,000 Reduce facilities accounts $250,000 Furlough one library support staff position at each school $350,000 Eliminate permanent per diem substitutes $400,000 TOTAL - $2,105,500

Analysis of Proposed Budget – Enterprise Fund Revenue to support the food service program is principally derived from the sale of food products to the students and faculty of the District during the school day. The food service program also currently receives state and federal support in the form of cash and commodities. Food service operations are projected to be self-supporting and will, therefore, not require a contribution from the General Fund in the 2010-2011 fiscal year.

Resources to Support Operations Programs and services included in the General Fund Budget are primarily supported by local and state sources of revenue. A comparison of revenue sources to support operations for the current and proposed General Fund Budgets are presented below. Budget Budget % Revenue Sources 2009-10 2010-11 Change Local Sources $ 78,382,329 $ 82,593,883 5.4% State Sources $ 14,838,684 $ 16,607,562 11.9% Federal Sources $ 1,204,131 $ 849,319 (29.7%) Other $ 5,000 $ 502,000 6.5% Total General Fund Revenue $ 94,430,144 $ 100,549,764 6.5% Financial Support for District operated programs and services are increasingly derived from local sources of revenue, primarily the property tax. The following graph presents the sources of revenue to support the proposed operating budget.

2010-2011 Revenues

The local sources of revenue to support the operations budget represent 84% of total available

funds. Of this amount, the largest source of revenue available to the District is the property tax that is derived from current, interim, and delinquent real estate tax payments. Above is a graph that presents the various sources of local revenue included in the proposed budget to support General Fund operations for the 2010-2011 fiscal year.

State Funding

The bar charts illustrate the shift for the support of educational programs by a comparison of the State support for instruction provided to the District in the 2000-2001 fiscal year and the amount of State subsidy for instruction anticipated in 2010-2011. If the State continued to provide the same level of support to the District for instruction as provided in 2000, the District would receive $4,588,328 more in additional State support. This would permit a reduction in property taxes of 16.64 mills or a reduction in taxes of 40% for each real estate taxpayer. Historically there has been substantial shift in the burden of funding the school districts’ educational programs and services from the State to the local level. This shift in burden abrogates the historic partnership between the local community and State government for the education of students in public schools. The trend has also been accompanied by an increasing number of unfunded State mandates, particularly in the areas of special education and student assessment. Overall, State sources of revenue are projected to remain constant for next year. Total state sources are projected to fund 13 % of the 2010-2011 General (Operating) Fund budget. Given the lack of additional state and federal resources combined with the need for additional instructional needs to accommodate the academic program, the tax rate on property is budgeted to increase by 2.36 mills for the 2010-2011 fiscal year. The District has been faced with funding increased capacity needs--special education costs and technology initiatives--in an economy where State funding for education continues to decline. Federal Revenue Although federal sources of revenue do not represent a significant revenue source to the District for the general operating budget, funding for Title programs are projected to decrease federal revenues

13% 87% <1

%

21.08% 78.28% 0.64%

0

% 20

% 40

% 60

% 80

% 100

% Percentage of

Budget

2010-

2011

2000-

2001 Yea

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Change in Revenue Sources from 2001-2011

% Revenue from

State % Revenue from

Local % Revenue from

Federal

from $1,204,131 in 2009-2010 to $846,319 in 2010-2011. This reduction is the result of the elimination of federal stimulus funds. Assessed Value

The estimated assessed value for the 2010-2011 fiscal year is $1,909,148,547.

ANALYSIS OF REAL ESTATE MILLAGE OVER THE PAST TEN YEARS

Actual 01-02 Fiscal Year

Actual 02-03 Fiscal Year

Actual 03-04 Fiscal Year

Actual 04-05 Fiscal Year

Actual 05-06 Fiscal Year

Actual 06-07 Fiscal Year

Actual 07-08 Fiscal Year

Actual 08-09 Fiscal Year

Actual 09-10 Fiscal Year

Proposed 10-11 Fiscal Year

Millage Rate 24.338 26.039 26.970 28.384 30.55 32.651 35.422 37.25 39.24 41.60 Millage Increase 1.707 1.701 .931 1.414 2.166 2.101 2.771 1.828 1.99 2.36

Act 1 OF 2006

In a Special Legislative Session in 2006, the Pennsylvania State Legislature approved Act 1 which was intended to provide tax reform for school communities in a number of ways. First, it was intended to require local school boards research and provide their communities with the option of shifting taxes from real estate to an income base. If a switch was to be made, part of that change was to gauge the preference of the community for an earned income tax base or a personal income tax base.

Additionally, Act 1 limited the ability of school districts to increase millage rates above an

inflationary percentage called an ‘index’. This index is set annually by the State. If a school system requires millage rates above this index to balance their budget, one of two choices must be made. Either the school must submit a request to the State to have additional millage approved as an exception to the limit, or they must have the higher rate approved through a referendum vote in the community during the Primary Election. Finally, Act 1 enables schools to reduce their real estate taxes through ‘homestead exclusions’ to rebate gambling money back to residents who own and live in their homes. Our community voted against the tax shift from property taxes to income based taxes, but we are still bound by the index limitation on our annual millage increase. Index Limit

For the 2010-2011 Budget, our index limit is 2.9% over the 2009-2010 real estate tax rate of 39.24 mills. That maximum tax rate is 41.60 mills. We were granted exceptions to the index which permits a maximum millage rate of 41.60 mills which is the tax levy in the 2010-2011 budget. Number of Properties During the past year, the number of taxable properties on the tax rolls increased from 10,830 to 10,841, an increase of 11 properties. Unemployment Job growth in Montgomery County remains stable with an unemployment rate of 7.6% in February 2010. Pennsylvania’s unemployment rate was 8.9% for that same period. Major employers in

the region include public and private service, education, and government (information quoted from January 2010 www.paworkstats.state.pa.us). Student Performance Measurements The District determines success of its educational mission through the measurement of student achievement. Competency in basic skills such as reading, writing, and mathematics, along with performance on standardized achievement tests, are some of the tools used to measure the quality of education provided in the School District of Cheltenham Township. The No Child Left Behind Act and the State of Pennsylvania’s accountability system have placed unfunded mandates in the area of school performance in relationship to every student’s achievement. Every student is to meet the same achievement objectives by 2014, regardless of the individual student’s ability level. Every school is expected to show continuous academic growth in all subgroups of students. Improvement is driven and measured in several instructional areas, such as special education, limited English proficiency, remediation, enrichment and instructional strategies for poverty students. A school that does not meet or achieve adequate yearly progress (AYP) toward its growth target or subgroup performance will enter into school improvement. A summary of the School District of Cheltenham Township’s state scores for Spring of 2009 is below. The data compares the overall district performance to state performance. The School District of Cheltenham Township exceeds the state average in every subject area.

County-Comparison The following chart provides comparison data for the school districts that comprise Montgomery County. It is important to take note that the information presented is prepared by the Pennsylvania Department of Education and includes “average daily membership”, free and reduced lunch numbers, the estimated market value/personal income ratio, equalized millage, and 2008-09 estimated actual general fund spending as reported in the annual financial report.

The market value/personal income ration or MV/PI is utilized in the calculation of not only the basic education subsidy received from the Pennsylvania Department of Education but also in the calculation of the Act 1 index which limits the annual real estate tax index without applying for either exceptions from PDE or voter referendum. Acknowledgements The Administration appreciates the fiscal support provided by the School District School of Cheltenham Township Board of School Directors and the Community for development, implementation, and maintenance of an appropriate educational program for the children of the District.

ORGANIZATIONAL SECTION

MISSION

The MISSION of the School District of Cheltenham Township is as follows: drawing on its cultural richness, creativity, and tradition of scholastic excellence, the School District of Cheltenham Township strives to nurture each child through a wealth of academic endeavors and community partnerships that provide the skills and vision needed to lead a productive and meaningful life beyond our classroom walls. LOCATION

The School District is located in the residential suburbs bordering the City of Philadelphia, Pennsylvania. Its boundaries are coterminous with those of the Township of Cheltenham, Pennsylvania, which is located in the County of Montgomery, Pennsylvania directly north of Philadelphia and covers an area of 8.8 square miles. The School District is bound on the west by the Township of Springfield and on the north by the Township of Abington and the Borough of Jenkintown. Included in the School District are the following unincorporated communities: Cedarbook, Edge Hills, LaMott, Ogontz, Elkins Park, Cheltenham, Laverock, Rowland Park, Glenside, Chelten Hills, Melrose Park and Wyncote. The 2000 Census indicates that the population served by the School District was approximately 36,875.

COMMUNITY

The School District is primarily residential in character with approximately 85% of the community consisting of private homes. There is a representative number of commercial establishments for a residential area and a few manufacturing concerns. The School District is home to many professionals who are employed in Center City Philadelphia which is easily accessible by the Southeastern Pennsylvania Transportation Authority’s mass transportation system. EXPLANATION OF THE SCHOOL ENTITY The School District operates a high school, middle school, a grade 5-6 building, and four k-4 elementary schools. The grades housed, pupil capacity and the date of construction is as follows:

Original Addition/ Rated Construction Renovation Pupil 2008-09 2009-10

Building Date Date Grades Capacity Enrollment Enrollment Elementary: Cheltenham .............................. 1952 1956/88 K-4 450 380 411 Glenside ................................... 1993 2011 K-4 450 362 349 Myers ....................................... 1922 1967/2009 K-4 500 378 383 Wyncote .................................. 1943 1996/97 K-4 550 414 406 Elkins Park .............................. 1953 1989 5-6 700 654 671 Secondary: Cedarbrook Middle ................. 1970 --- 7-8 900 661 695 Cheltenham High ..................... 1959 1967/99 9-12 1,900 1,501 1455

The District is a political subdivision of the Commonwealth created to assist in the administration

of the General Assembly’s duties under the Constitution of Pennsylvania to “provide for the maintenance and support of a thorough and efficient system of public education to serve the needs of the Commonwealth”. The District is governed by a board of nine School Directors who are residents of the School District and who are elected every two years, on a staggered basis, for a four-year term. The Directors serve on the Board without compensation. The Board of School Directors has the power and duty to establish, equip, furnish, and maintain a sufficient number of elementary, secondary, and other schools necessary to educate every person residing in the District between the ages of six and twenty-one years.

The Superintendent is the chief administrative officer and chief instructional officer of the District and is responsible for the administration and operation of the public school system. He/she oversees all matters pertaining to instruction. The Superintendent manages the District with the assistance of members of Cabinet which includes the Assistant Superintendent, Director of Business Affairs, Director of Support Services, Director of Human Resources, Director of Special Education, Director of Education, Director of Communications and Development and the Building Principals. The District is a legally autonomous and fiscally independent entity under the laws of Pennsylvania. The laws of Pennsylvania give the District corporate powers that distinguish it as a legally separate entity from the Commonwealth of Pennsylvania and any of its political subdivisions. The District has the power to determine its budget; to approve and modify that budget; to levy taxes, set rates and establish charges, and issue bonded debt. The powers may be exercised without substantive approval by another government.

The District is subject to the general oversight of the Pennsylvania Department of Education on matters that are relevant to the determination of fiscal independence. The oversight generally includes an approval process that is compliance oriented and is more ministerial than substantive in nature. STRATEGIC PLANNING

The Public School Code of 1949 (24 P. S. § 26-2603-B) dictates the strategic planning process for each school district in Pennsylvania. This process is detailed below.

Every school district shall develop and file with the Department a strategic plan once every 6 years and review that plan for revision at the mid-point according to an implementation schedule developed by the Department. The Department will notify each school district, by letter, of the due date for submission of the school district’s plan to the Department at least 1 calendar year prior to its due date. A school district plan must incorporate appropriate components of the plan submitted under subsection by the area vocational-technical school in which the district participates. In the development of a strategic plan, a school district will, upon request, receive technical assistance from the Department

The strategic plan must be based upon an analysis of internal and external needs, leading to the specifications of priorities for action and action plans. The plan must include the following components in addition to others the school district determines to include:

(1) A mission statement.

(2) A listing of the school district’s educational and organizational goals as they relate to student achievement and high school graduation requirements.

(3) A description of academic standards for student achievement.

(4) The planned instruction to be offered and the instructional and assessment practices to be used to strive for the academic goals and attain academic standards.

(5) An assessment plan to determine the degree to which students are achieving academic standards including descriptions of methods and measures used to determine achievement, how information from the assessments shall be used to assist students who have not demonstrated attainment of the academic standards at a proficient level or higher and how information from the assessments shall be made available to the public.

(6) A plan for improving students’ achievement, including specific, measurable goals for student growth and plans that are designed to attain students’ achievement goals. Achievement goals must demonstrate a connection to the academic standards.

(7) The professional development plan and the induction plan.

(8) A description of the school district’s organization and organizational goals and their relationship to differing student needs within the school district’s goals and the attainment of academic standards .

(9) A description of the professional personnel, school library, classroom and other resources the school district plans to devote to the attainment of academic standards.

(10) A brief description of the process used to develop the strategic plan, including a list of persons involved in its development.

(11) A plan for additional instructional opportunities for students not achieving at the proficient level including identification procedures, alternate instructional strategies, monitoring of assessment procedures and opportunities for extended learning time.

Strategic plans, the 6-year plan, mid-term review report, annual updates and other revisions to the plan, shall be developed through active participation by parents, students, school directors, teachers, school administrators, other school personnel and business and community representatives. Teacher representatives shall be chosen by teachers and administrative representatives shall be chosen by the administrative personnel; and school director representatives shall be chosen by the board of the school district.

Prior to its approval by the Board of School Directors, the strategic plan and revisions of it shall be made available for public inspection in the school district’s offices, on the school district’s web site and nearest public library until the next regularly scheduled board meeting or a minimum of 28 days whichever comes first. The plan shall be filed with the Department after it is recommended by the school superintendent of record or chief executive officer and is approved by the school district’s board of directors or. If the board of directors or trustees alters the proposed strategic plan developed it shall consult with the committee which developed it to reach the greatest possible consensus prior to its submission and include any minority report which is developed.

A locally approved strategic plan shall remain in effect until it is superseded by a locally approved revision or a new strategic plan is developed.

2009-2010 GOALS

1. Establish curricular and instructional precision 2. Establish a school environment and climate of excellence 3. Create systems for continuous improvement in policies, procedures, and practices 4. Consolidate academic and operational gains

These goals are tied into the operations of not only the School Board but also each administrator and building principal who provide monthly updates to the Superintendent on the achievement of goals. The costs associated with each goal are presented within the overall budget as programs which address these goals are included in the spending plan. For example, upgraded software within the technology budget would be an expenditure that would tie to goals numbered two, three and four. An annual report produced in cooperation with Cheltenham Township provides an update to the community on the accomplishments of the school district.

CHELTENHAM ACHIEVMENTS

• The Class of 2010 achieved an impressive record in National Merit recognition and Advanced Placement (AP) Scholar awards: four Merit semifinalists, one National Achievement semi-finalist, 15 Merit commended and one National Hispanic Recognition finalist.

• 68 students earned AP Scholar Awards for exceptional achievement, with three earning National AP Scholar status for scoring 4 or 5 in eight AP tests. The School District offers 26 AP courses – the highest number in Montgomery County – which are open to all students.

• While every school in the District made Adequate Yearly Progress on the standardized PSSA tests, several rated special recognition. Cheltenham High School achieved the largest 11th grade math and reading gains in Montgomery County. Wyncote Elementary School was recognized for its Title 1 student increases. And our elementary school scores earned Keystone Achievement Awards for Academic Achievement.

• A team of dedicated teachers and administrators from Cedarbrook Middle School won the National Middle School Association’s Grand Prize for Teams That Make A Difference. The team was nationally recognized for successfully leading its staff in a positive strategic examination of their instructional practices, which significantly enhanced the climate, culture and perception of the school.

• High School Assistant Principal Dr. Jill Clark was named Pennsylvania’s Assistant Principal of the Year, 2009-2010.

• All seven Cheltenham schools proudly wear the title of a No Place for Hate school. To earn this designation, each school formed a No Place for Hate committee, pledged to create a more inclusive school and implemented projects designed to promote respect for differences.

• Our students discover their leadership skills early thanks to the Student Leadership initiative, which provides boys and girls the opportunity to become civically engaged. Whether working with the First Lady of Pennsylvania Judge Marjorie O. Rendell or representing the School District at the Delaware Valley Minority Consortium, students learn how to make their voices heard to affect positive change.

• The 2009 Annual Philadelphia Young Playwrights’ (PYP) competition named 26 Cheltenham students in grades 3 to 12 as award-winning playwrights. Our 20-year partnership with PYP is another way we build stronger student voices!

• Music permeates the halls of all Cheltenham schools. A new violin program for 3rd and 4th grades is already a smashing success. Several hundred students take part in classes offered during student enrichment periods, lunch or recess.

• District music programs continue to produce outstanding performances from remarkably talented students. In 2009, ten choral students – chosen from a field of 1,000 – were selected for the Pennsylvania Music Educators Association’s District Chorus, and the High School Marching Panthers were recognized at the Cavalcade of Bands East Coast Championships.

• The Cheltenham Landmark After-School Program (CLASP) provides before- and afterschool care for Cheltenham students in grades K-6. The program features activities proven to improve academic skills, promote physical and emotional well-being, and build self-esteem and social relationships. Before-school care starts at 7:00 a.m. and lasts until classes begin, and after-school care runs from the end of the school day until 6:30 p.m.

• Cedarbrook Middle School was recognized as a 2010 Pennsylvania School to Watch. • From June through December 2009, the District pursued and acquired over $1.5 million in grants

to further expand student opportunities. These grant-funded programs included:

o A state Department of Environmental Protection Education Grant for building an outdoor classroom at Elkins Park School.

o A Federal Preventative Health and Health Services Block Grant with matching funds from Independence Blue Cross for an innovative physical education program at Cedarbrook Middle School.

o A Learn and Serve America Grant for a community service learning initiative at Cheltenham High School. an innovative health and wellness curriculum and guest speakers to support our No Place for Hate environment.

o A Dual Enrollment Grant for seniors to experience university-level coursework. FUND STRUCTURE AND ACCOUNTING

The accounting system of the School District is organized on the basis of funds. Each fund is considered a separate accounting entity, with a set of self-balancing accounts that comprise its assets, liabilities and fund equity, revenues and expenditures or expenses, as appropriate. School District resources are allocated to and accounted for in individual funds based upon the purpose for which they are to be spent and the means by which spending activities are controlled.

The fund classifications used by the School District have been defined by generally accepted accounting standards that include three broad fund types: governmental, proprietary, and fiduciary. Resources segregated into the Governmental Fund types are those used for the usual school services financed by local taxes, state subsidy and federal aid. The District uses three types of Governmental Funds: a General Fund, a Capital Projects Fund, and a Special Revenue Fund (Capital Reserve Fund and the Athletic Fund). The General Fund is the operating fund of the School District. Capital Project Funds are used to account for financial resources to pay for the renovation, acquisition or construction of major capital equipment and facilities. Special Revenue Funds are maintained to account for the proceeds of specific revenue sources that are legally or administratively restricted to expenditures for specified purposes. The Capital Reserve Fund, a Special Revenue Fund, is restricted to expenditures for capital items and debt service. The Athletic Fund, another Special Revenue Fund, is restricted to expenditures for athletic activities.

Resources segregated into the Proprietary Fund category are those used to finance activities similar to those often found in the private sector. The activities are usually financed, at least partially, from a user charge. The District uses only one Proprietary Fund: an Enterprise Fund (the Food Service Fund). The Food Service Fund is used to account for all revenues, food purchases, costs and expenses pertaining to food service operations which are financed and operated in a manner similar to private business enterprises where the stated intent is that the cost, including depreciation and indirect costs, of providing goods or services to the students on a continuing basis are financed or recovered primarily through user charges.

Resources segregated into the Fiduciary Fund are those held by the School District as a trustee for some other entity or group. The District uses two Fiduciary Fund types - Trust Funds and Agency Funds. Trust Funds are used to account for scholarship funds held by the District in a custodial capacity and include both expendable and nonexpendable trusts. The Agency Fund is used to account for the receipts and disbursements of monies from student activity organizations. These organizations exist at the explicit approval of and are subject to revocation by the District’s governing body. This accounting reflects the District's agency relationship with the student activity organizations. The District is not required to adopt a budget for any fund other than the general fund. Information on the Capital Project Fund Budgets, and the Enterprise (Food Service) Fund budget are presented in this document in narrative form, but since their development is not a requirement they are not presented in the full form and extent as the general fund budget. The school district does not prepare a budget for its fiduciary funds.

CLASSIFICATION AND PRESENTATION OF REVENUE AND EXPENDITURES

The Pennsylvania Department of Education has adopted a system for the classification of revenue and expenditures based on generally accepted accounting standards for school entities. The system is used for budgeting, accounting, and financial reporting in compliance with Generally Accepted Accounting Principles (GAAP), as established by the Governmental Accounting Standards Board (GASB). The classification and coding structure to record financial transactions under the accounting system provides for three basic types of activity: revenues and other financing sources; expenditures and other financing uses; and transactions affecting the balance sheet/statement of net assets only. For each type of transaction, the specific account code is made up of a combination of dimensions. Each dimension describes one way of classifying financial activity.

As required by the Pennsylvania Department of Education, the District classifies revenues by fund and revenue source dimensions. Revenues are segregated into three sources: Local Sources, State Sources, and Federal Sources. Local sources include such receipts as property taxes and interest on investments. State sources consist of monies received by the District from the Commonwealth of Pennsylvania among which are funds to support the basic instructional program, special education services, and the transportation of students. Federal sources are those funds provided by the federal government, of which the largest is the Title I program for disadvantaged students. The Department also requires the District to classify expenditures by a combination of dimensions. The required expenditure dimensions include: fund, function, object, funding source, and instructional organization. The function dimension is used to classify expenditures according to the principal purpose for which expenditures are made (e.g. Instruction and Support Services). As used in the expenditure classification system, the object dimension applies to the article purchased or the service obtained (e.g. Salaries, Fringe Benefits, Supplies and Equipment). While not required, the District also classifies expenditures by operational unit, responsibility cost center, subject matter and job classification dimensions. The responsibility cost center dimension (e.g. instructional services and transportation) is used to classify expenditures by operational units defined by the District.

The District is legally required to prepare budgets at the fund, function and object level of classification. Accordingly, revenue and expenditures are presented herein at the level required by the Department of Education. The District also presents expenditures by responsibility cost center in this document since it is the classification system used to manage and control the resources provided for educational programs and services. A cross-classification of responsibility cost center expenditures by function and by object is also presented. This presentation provides management with meaningful perspectives on spending.

Revenue classifications and related descriptions are presented on the pages to follow. Expenditure classifications and related descriptions are presented on the upcoming pages after revenue classifications. These classifications are referred to throughout this document and represent a consistent budget and financial reporting process for the School District and for readers of this document. REVENUE CLASSIFICATION 6000 LOCAL REVENUE SOURCES Revenue produced within the boundaries of the District and available to the District for its use.

6111 Current Real Estate Tax Real Estate Tax is the main source of revenue for funding the operation of the Susquehanna Township School District. It is based on the assessed valuation as determined by the Dauphin County Board of Assessment, of all taxable property within the School District and is collected through a bank-operated lock box. 6112 Interim Real Estate Tax Interim taxes are levied under Act 544 of 1952 (Section 677.1) on the increase in assessed valuations of local property as a result of construction or improvements to that property during the school year. 6113 Public Utility Realty Tax Lands and structures owned by public utilities and used in providing their services are subject to state taxation under Act 66 of 1970. The state collects and then distributes a prescribed sum among local taxing authorities including school districts and that payment of state tax is in lieu of local taxes upon public utility realty. 6143 Local Services Tax Revenue received under Act 511 for flat rate assessment of occupational privilege taxes. The occupational privilege tax is levied on resident and non-resident individuals employed within the taxing district for the privilege of engaging in an occupation. 6151 Earned Income Tax Earned income taxes are levied under Act 511 of 1965 (Local Tax Enabling Act) at the rate of one half of one percent (.5%) of wages, salaries, commissions, net profits or other compensation of those who earn income and reside within the School District. 6153 Real Estate Transfer Tax Transfer tax is levied under Act 511 at the rate of one half of one percent (.5%) of the value on the transferring of real estate or interest in real property situated within the boundaries of the School District. 6157 Mercantile Tax Mercantile taxes are levied under Act 511 on gross receipts of wholesale and retail vendors or dealers in goods, wares, and merchandise and all persons engaged in conducting restaurants or other places where food, drink or refreshments are sold. The rates are one half (1/2) mill on each dollar of gross business conducted by wholesale vendors and three-fourths (3/4) mill on each dollar of gross business conducted by retail vendors. 6400 Delinquent Taxes Delinquent taxes are taxes that were not collected during the original year of issue. Included here are the applicable interest and penalties on tax revenue classified as delinquent. 6500 Interest on Investments Interest on investments is revenue received from the investing of School District money as it becomes available in investment vehicles as permitted by Pennsylvania law. Investments are made through programs provided by Fulton Financial Advisors and are consistent with provisions of the School Code. 6700 Revenues from Student Activities Revenues resulting from co-curricular and extra-curricular activities controlled and administered by the

LEA. These revenues are not to be commingled with the proceeds from student activities which should be accounted for in agency funds. 6820 Revenue from Intermediate Sources – Commonwealth Funds Revenue received through an intermediate source as agent of the Commonwealth. 6830 Revenue from Intermediate Sources – Federal Funds Revenue received through an intermediate source as agent of the Federal Government. 6900 Other Local Revenue Revenue from local sources not classified above. 6910 Rent of Facilities Rent of Facilities is revenue received from various government bodies, organizations, and civic groups for the rental of the District's buildings and facilities. 6940 Tuition from Patrons Tuition from patrons includes regular day school tuition for non-resident students temporarily living within the School District boundaries; revenue received from students, their parents or their guardians for summer school education provided by the School District; revenue received for adult education programs operated by the School District; and revenue received from other school entities for mainstreaming of special education students in district regular education programs. 6990 Miscellaneous Revenue Revenue from local sources not classified elsewhere. 7000 REVENUE FROM STATE SOURCES Revenue from funds produced within the boundaries of and collected by the state and distributed to school districts in amounts different proportionately from the amounts collected within such school districts. 7100 Basic Instructional and Operating Subsidies Revenue received from Commonwealth appropriations as subsidy for basic instruction and operations. (Revenues are not recorded to this account but to the following 7100 subaccounts.) 7110 Equalized Subsidy for Basic Education The Equalized Subsidy for Basic Education (ESBE) is the major grant program through which funds are distributed from the State to school districts. The first five payments, each equivalent to 15% of the estimated net subsidy, are made on the fourth Thursday of August, October, December, February and April. The balance due is paid on June 1. 7140 Charter Schools Revenue received from the Commonwealth of PA to fund the Charter Schools initiative. The revenue includes money for Nonpublic Transfers and Transitional Grants. Record the State revenue received for Charter Schools to the following detailed accounts, where applicable. 7160 Tuition for Orphans and Children Placed in Private Homes Revenue received from the Commonwealth as tuition for children who are orphans and/or children

who are placed in private homes by the court. Payments are made in accordance with Sections 1305 and 1306 of the School Code. 7200 Subsidies for Specific Educational Programs Revenue received from Commonwealth appropriations as subsidy for specific educational programs. (Revenues are not recorded to this account but to the following 7200 subaccounts.) 7210 Homebound Instruction Revenue received from the Commonwealth as subsidy for expenses incurred on account of instruction of homebound pupils. Payments are made in accordance with Section 2510.1 of the School Code. Payments in this category have currently been suspended. 7270 Special Education of Exceptional Pupils Revenue received from the Commonwealth as subsidy for the cost of instructing exceptional children. Payments are made in accordance with Section 2509 and/or 1373.1 of the Public School Code. 7300 Subsidies for Non-educational Programs Revenue received from Commonwealth appropriations as subsidy for non-educational programs. (Revenues are not recorded to this account but to the following 7300 subaccounts.) 7310 Transportation (Regular and Additional) Revenue received from the Commonwealth as subsidy on account of pupil transportation expenditures and/or board and lodging in lieu of transportation. Payments for pupil transportation are made in accordance with Section 2541 of the Public School Code. Payments for board and lodging in lieu of transportation are made in accordance with Section 2542 of the Public School Code. 7320 Rental and Sinking Fund Payments/Building Reimbursement Subsidy Revenue received from the Commonwealth as a full or partial subsidy payment on account of approved lease rentals, sinking fund obligations, or any approved lease rentals, sinking fund obligations, or any approved LEA debt obligations for which the Department of Education has assigned a lease number. 7330 Health Services Revenue received from the Commonwealth as subsidy on account of health services, including, medical, dental and nurse services. Payments are made in accordance with Section 2505.1 of the Public School Code and Act 25. 7340 State Property Tax Allocation Revenue received from the Commonwealth of PA designated for school district property tax reduction. Payments are made in accordance with section 505 of Special Section of Act 1 of 2006. 7500 Extra Grants Revenue received from the Commonwealth as extra grants not specified elsewhere in the Revenue from State Sources section. (Subaccounts may be established if more than one extra grant is received.) 7501 PA Accountability Grants Revenue received from the Commonwealth of PA authorized by Act 48 of 2003 for school districts to implement research-based programs to boost student achievement.

7502 Dual Enrollment Grants Revenue received from the Commonwealth of PA to allow high school students to earn college credits while completing high school. 7599 Additional Grants Revenue received not specifically accounted for elsewhere in the 7000 series of accounts. Include in this revenue code payments received for ELECT, school demonstration grants and from other State agencies such as the Department of Environmental Resources and DCED. 7810 Revenue for Social Security Payments Revenue received from the Commonwealth designated as the Commonwealth's matching share of the employer's contribution of the Social Security Taxes for covered employees which are not federally funded. 7820 Revenue for Retirement Contributions Revenue received from the Commonwealth designated as the Commonwealth’s required share of contributions to the Public School Employers’ Retirement System (PSERS). 7900 Revenue for Technology Revenue received for technology initiatives that allow the school to develop new information technology projects, such as additional or improved computer hardware, software and network infrastructure. (Revenues are not recorded to this account but to the following subaccounts) 8000 REVENUE FROM FEDERAL SOURCES Revenue from funds collected by the Federal Government and distributed to school districts in amounts that differ in proportion from those which were collected within such school districts. 8300 Restricted Grants Directly from the Federal Government Revenue received directly from the Federal Government as grants to the school district which must be used for a categorical or specific purpose. (Revenues are not recorded to this account but to the following subaccounts.) 8500 Restricted Grants-in-Aid from the Federal Government Revenue received from the Federal Government through the Commonwealth of PA as grants to the LEA, which must be used for a categorical or specific purpose. 8513 Education of Disadvantaged Children - ECIA, Title l Revenue received for the education of disadvantaged children under the Education Consolidation and Improvement Act Public Law 97.35, of 1981, Title 1 (formerly Chapter I). 8514 NCLB, Title I – Improving the Academic Achievement Of The Disadvantaged Revenue received for the education of disadvantaged children under NCLB. 8515 NCLB, Title II – Preparing, Training and Recruiting High Quality Teachers and Principals Revenue received for the education of children under NCLB Title II.

8517 NCLB, Title IV – 21st Century Schools Revenue received for the education of children under NCLB, Title IV. Includes funding for Safe and Drug-Free Schools and Communities, and 21st Century Learning Communities (list not all inclusive). 8518 NCLB, Title V – Promoting Informed Parental Choice and Innovative Programs Revenue received for the education of children under NCLB, Title V. Includes Innovative Programs, and Smaller Learning Communities (list not all inclusive). 8600 Restricted Grants-in-Aid from the Federal Government through the Commonwealth of PA for Driver Education, Adult Education, CETA, Headstart, Energy Conservation, Workforce Investment Act and Other Programs Revenue received as grants to the LEA from the Federal Government through the Commonwealth of PA, which must be used for a categorical or specific purpose, and is not identified in the 8500 series of accounts. 8810 School Based ACCESS Medicaid Reimbursement Program (SBAP) Reimbursements (ACCESS) SBAP is an MA program that reimburses school entities for direct, eligible health-related services including transportation. These services are provided to MA enrolled, special needs students, and reimbursement claims are processed through Leader Services. Reimbursable services include, but are not limited to, occupational therapy, physical therapy and psychological counseling. Payments for SBAP costs come from the Department of Education (PDE) through the completion of the PDE-352 ACCESS Funds Request Form. 9000 OTHER FINANCING SOURCES Includes funds received from proceeds of long-term debt issues, receipt of interfund transfers, or the sale of fixed assets. 9400 Sale or Compensation for Loss of Fixed Assets Monies received from the sale of or compensation for the loss of fixed assets. 9800 Intrafund Transfers Transfers made within the general fund. EXPENDITURE CLASSIFICATION BY FUNCTION The District uses five (5) major functional classifications to record and control financial transactions. However, expenditures are not charged directly to these major functional categories described below but to subaccounts or subfunctions that provide a more detailed classification of expenditures. 1000 INSTRUCTION Activities dealing directly with the teaching of pupils, or the interaction between teacher and pupils. Teaching may be provided for pupils in a school classroom, in another location and in other learning situations. It may also be provided through some other approved medium. Included in this function are the salaries for teachers and assistants of any type that provide support for the instructional process. Also included in this function are equipment and supplies directly related to instruction and the instructional process.

1100 Regular Programs Elementary and Secondary programs include activities designed to provide students (grades K through 12) with the learning experiences to prepare them for activities as citizens, family members, and non-vocational workers as contrasted with programs designed to improve or overcome physical, mental, social and/or emotional handicaps. Federal Programs are included in this account under “1190.” 1200 Special Education Programs Activities designed primarily for students having special needs. These special programs include services for the gifted, learning disabled and physically handicapped students. 1300 Vocational Education Programs Pennsylvania Department of Education approved programs designed to prepare students to pursue occupational fields including agriculture, business, distribution, health, home economics and trade and industry. 1400 Other Instructional Programs Elementary and Secondary programs that provide students (grades K through 12) with learning experiences not included in the regular, special education or vocational education programs. This includes the Summer School Program, Homebound Instruction, Driver Education Classroom Instruction. 1500 Non-Public School Programs Activities for students attending a school established by an agency other than the State, a subdivision of the State, or Federal government, which usually is supported primarily by other than public funds. The services consist of such activities as those involved in providing instructional services. 1700 Higher Education Programs Instructional programs for secondary education students attending an institution of higher education that offers college instruction. 1800 Pre-Kindergarten Activities designed to provide Pre-K students with learning experiences to prepare them for activities as citizens, family members, and non-vocational workers as contrasted with programs designed to improve or overcome physical, mental, social and / or emotional handicaps. 2000 SUPPORT SERVICES Services which provide administrative, technical, personal and logistical support to facilitate and enhance instruction. Support services exist to sustain and enhance instruction, rather than entities within themselves. They include such services as: pupil personnel, guidance, psychology, library, health, attendance, and transportation. 2100 Pupil Services Activities designed to assess and improve the well-being of students, to supplement the teaching process, and meet the provisions of Article Xlll of the Public School Code of 1949, as amended. This includes the Director of Pupil Services, guidance counselors and psychological services.

2200 Instructional Staff Services Those activities associated with assisting, supporting, advising and directing the instructional staff in improving the content and process of providing learning experiences for students. These activities include audio-visual/multi-media services, library operations, curriculum development and staff development. 2300 Administration Those activities concerned with recommending new policies, administering existing policies and the developing and implementing of procedures in connection with the operation of the School District. It also includes the services of those professional, independent, and separate agencies or individuals that are elected, appointed, or retained to assist in the administration including the Board Treasurer, attorneys, accounting services and tax collection services. 2400 Pupil Health Services Programs Activities that provide physical and mental health services which are not part of curriculum and instruction. Included are activities that provide students and staff with appropriate medical, dental, and nursing services as required by the state. 2500 Business Services Those activities concerned with the administering of the District’s business functions, the accounting of the District’s receipts and expenditures, and the purchasing, storage and maintenance of goods and services. 2600 Plant Operation and Maintenance Those activities concerned with keeping the physical plant open, comfortable, and safe. This includes keeping the grounds, buildings and equipment in effective working condition and maintaining safety on all school property. 2700 Transportation Those activities concerned with the conveyance of students to and from school, as provided by state law, including trips between home and school and trips to school activities. 2800 Central Support Services Activities, other than general administration, which support each of the other instruction and supporting services programs. These activities include planning, research, development, evaluation, information, staff and technical services. 2900 Other Support Services All other support services not classified elsewhere in the 2000 series. This includes amounts paid for services from the Dauphin County Intermediate Unit. It also includes salaries and benefits and other expenses of the census enumeration function. 3000 OPERATION OF NONINSTRUCTIONAL SERVICES Activities concerned with providing non-instructional services to students, staff or the community. Expenditures accounted for in this function include student activities and community services. 3200 Student Activities School sponsored activities, under the guidance and supervision of the School District’s staff, designed to provide students such experiences as motivation, enjoyment, and improvement of skills. Co-curricular

activities normally supplement the regular instructional program and include such activities as band, chorus, speech and debate. Also, student activities involve the athletic program, which provides competition between schools. 3300 Community Services Activities concerned with providing recreation for the community as a whole. 4000 FACILITIES ACQUISITION, CONSTRUCTION AND IMPROVEMENT SERVICES Represent capital outlay for the purchase of land, buildings, service systems and built-in equipment. Expenditures include the initial purchase of land and buildings, construction remodeling and additions and improvement to buildings, initial installation, replacement or extension of service systems and other building equipment, as well as improvement to sites, and activities related to all of the above. 4100 Site Acquisition Services Costs incurred to purchase land and make initial improvements to new land acquisitions. Expenditures recorded here include the purchase price of the land, settlement costs, transfer fees, demolition, grading, survey, paving, sealing, lighting and all other professional fees associated with the purchase. 4200 Existing Site Improvement Services Costs incurred to improve existing land and land improvements, which are non-routine and extraordinary costs incurred to improve or maintain existing sites. 4300 Architecture and Engineering Services/Educational Specification Development-Original and Additional Cost incurred for the activities and engineers related to acquiring and improving sites and improving buildings. Also, those activities concerned with preparing and interpreting to architects and engineers descriptions of space requirements for the various learning experiences of students to be accommodated in a building. These specifications are interpreted to the architects and engineers in the early stages of blueprint development. Charges are made to this account only for those preliminary activities, which may or may not result in additions to the LEA’s property. 4400 Architecture and Engineering Services/Educational Specifications - Improvements Costs incurred for the activities and engineers related to existing site improvement and existing building improvement services. Also, those activities concerned with preparing and interpreting to architects and engineers descriptions of the improvements services. These specifications are interpreted to the architects and engineers in the early stages of blueprint development. Charges are made to this account only for those preliminary activities, which may or may not result in improvements to the LEA’s property. 4500 Building Acquisition and Construction Services Costs incurred to purchase or construct buildings, additions to buildings, and original or additional installation or extension of service systems and built-in equipment. 4600 Existing Building Improvement Services Capital expenditures incurred to renovate or improve existing buildings, service systems and other built-in equipment. Capital expenditures include non-routine and substantial costs incurred to maintain or improve buildings, service systems and other built-in equipment.

5000 OTHER EXPENDITURES AND FINANCING USES Other financing uses represent the disbursement of governmental funds not classified in other functional areas that require budgetary and accounting control. These include transfers of monies from one fund to another and budgetary reserve. 5100 Other Expenditures and Financing Uses This function is used to record and accumulate costs representing payments on general long-term debt principal and interest. It also includes the recognition of all refunds of prior year revenues and receipts including deductions taken from the basic education subsidy to adjust for prior year audits and subsidy calculation changes. 5200 Fund Transfers This function provides for funds to be transferred from one fund to another fund without expectation of repayment. 5900 Budgetary Reserve Expenditures may not be made through the budgetary reserve, but only against the line items which appear throughout the appropriations, An amount equal to the expenditure shall be transferred from the budgetary reserve into the appropriate line item. The Board of School Directors shall approve each transfer. EXPENDITURE CLASSIFICATION BY OBJECT The District uses nine (9) major object classifications to record and control financial transactions. However, expenditures are not charged directly to these major object categories described below but to subaccounts or sub-objects that provide a more detailed classification of expenditures. 100 Personnel Services - Salaries Gross salaries paid to employees of the District. Salary costs are related to personnel positions, overtime, temporary employees and supplemental pay. 200 Personnel Services - Benefits Amounts paid on behalf of employees; these amounts are not included in gross salary, but are in addition to that amount. Such payments are fringe benefit payments; and, while not paid directly to employees, are part of the cost of personnel services. Fringe benefits include health insurance, retirement plans, social security, life insurance, unemployment compensation and workers’ compensation. 300 Professional Services Services that by their nature require persons or firms with specialized skills and knowledge. Included in this classification are contracted services such as; legal and accounting services, tax collection and administrative services, curriculum improvement and instructional services, counseling and guidance services, computer services and medical and dental services. This classification also includes fees paid to the Dauphin County Intermediate Unit for special education services and alternative regular education services. 400 Purchased Property Services Services required to operate, repair, and maintain property used by the District. Such costs include housekeeping, lawn care, maintenance, and snow removal.

500 Other Purchased Services Amounts paid for services not provided by District personnel but rendered by organizations or personnel, other than Professional Services and Purchased Property Services. Such services include those for contractual agreements to transport students, the cost of student field trips, postage, printing and binding, travel, the cost of tuition at approved private schools for special education programs, costs incurred to educate adjudicated or court placed children, liability insurance and telephone costs. This category also includes the District’s share of operational costs of the Dauphin County Technical School Program and the cost of general and administrative services received from the Dauphin County Intermediate Unit. 600 Supplies Amounts paid for material items of an expendable nature that are consumed, worn out, or deteriorated in use. Such costs include textbooks and periodicals, instructional supplies and materials, general and office supplies, custodial supplies, medical supplies, maintenance and transportation materials and energy costs for electricity and heating. 700 Equipment Expenditure for the purchase of fixed assets. Such expenditures include initial equipment, additional equipment, and the replacement of equipment. 800 Other Objects Amounts paid for goods and services not otherwise classified in the foregoing objects. Such expenditures include dues and fees and contingency (budgetary reserve). 900 Other Uses of Funds This object and subaccounts are used to classify Governmental Fund transactions which are not recorded as expenditures to the District but require budgetary or accounting control. SIGNIFICANT LAWS THAT AFFECT THE BUDGET AND FISCAL ADMINISTRATION

The Pennsylvania Public School Code of 1949, as amended, gives local Boards the authority to conduct the financial affairs of the District. The School Code contains provisions that require the Board to perform certain acts (mandatory), provisions that provide discretion to the Board to either act or refrain from acting (permissive), and provisions where the Board is prohibited from acting either in total or until certain conditions have been satisfied (prohibited). The School District is also subject to statutes of the Commonwealth such as the Municipal Code, the Fiscal Code, and other laws that apply to governmental entities. Budget Statutes

The School Laws of Pennsylvania, as enacted by the Commonwealth legislature, mandate that public school districts approve an annual budget on the modified accrual basis of accounting for the operation of Governmental Funds (the General Fund and the Special Revenue Funds) prior to the start of the fiscal year. Section 687 of the School Code requires that a proposed budget be prepared at least thirty (30) days prior to adoption of the budget for the following fiscal year in a format stipulated by the Department of Education. The format requires that revenues and expenditures be presented by function and object classification. The School Code also mandates that the proposed budget be available for public inspection at least twenty (20) days prior to the date set for adoption. Districts are also required to provide

notice prior to any final action on the budget. The “Notice of Proposed Budget” must be published at least once in a newspaper of general circulation within the community at least ten (10) days before the adoption of a final budget. The notice must include the time and place of the meeting at which the final budget will be adopted and a statement that the proposed budget is available for public inspection. The actions for final adoption of the budget and the necessary appropriations required to put it into effect must be voted on at a duly advertised public meeting. Section 508 of the School Code requires a majority vote of the Board of School Directors to adopt the annual budget and to levy and assess taxes. The vote must be by a duly recorded (roll call) vote that records how each member voted. Failure to have five affirmative votes renders action of the Board of Directors void and unenforceable. Failure to adopt a budget by July 1 causes the District to lose authority to expend funds. Within fifteen (15) days after adoption of the budget, a certified copy of the adopted budget must be provided to the Department of Community Affairs in conformance with section 687 of the School Code. Section 687 of the School Code also prohibits deficit financing in public schools. Accordingly, the total amount of the adopted budget may not exceed the amount of funds, including the proposed annual tax levy and state appropriations, available to the District. The Commonwealth has established a mandatory accounting system that must be used by every school entity that is based on Generally Accepted Accounting Principles (GAAP) for governmental units. GAAP is consistent with state and federal laws. The accounting system provides for the establishment of Governmental Funds including a General (Operating) Fund, a Debt Service Fund and a Capital Projects Fund and Special Revenue Funds that include a Capital Reserve Fund and Athletic Fund. The legal authority for the operation of the Capital Reserve Fund is specifically provided in Section 2932 of the Municipal Code. Monies in the Capital Reserve Fund must be kept in a special fund or account, separate and apart from any other fund. All interest earnings from the investment of Capital Reserve funds must be paid into the Capital Reserve Fund as set forth in Section 2932 of the Municipal Code. The monies in the Capital Reserve Fund may be expended only for capital improvements and for replacement of and or additions to public works and improvements, and for deferred maintenance thereof,\ as approved by the Board of School Directors. Specific projects must be identified, together with the year of proposed completion.

Under Section 2932 of the Municipal Code, the Board of School Directors may authorize transfers from the General Fund into the Capital Reserve Fund from a one (1) mill levy of general taxes designated for the purpose of this fund. Additional monies in the Capital Reserve Fund may consist (a) of monies transferred into the Capital Reserve Fund during any fiscal year from appropriations made for any particular purposes which may not be needed; and (b) of surplus monies in the General Fund of the treasury of the District at the end of any fiscal year. The authority for the establishment of the Athletic Fund is located in the Public School Code. The purpose of the Fund is to account for revenues generated through gate receipts incurred by the interscholastic athletic program. The Public School code permits that the Board of School Directors prescribe, adopt, and enforce reasonable rules and regulations, as it may deem proper, regarding the management, supervision, control or prohibition of exercises, athletics, or games of any kind. Bidding and Purchasing Statutes

School Boards are required under Section 801 of the Public School Code to purchase and provide all furniture, equipment, textbooks, school supplies and other items for the use of the District to maintain the educational environment. Section 807.1 (as amended by Act 30 of 1990) sets forth the requirement for competitive bidding at $10,000 or more. However, any purchase of $4,000 but less than $10,000 requires three price quotations under Section 807.1. On July 31, 2009, the Department of Education granted approval for the District to raise the quotation threshold from $4,000 to $6,100 and the bidding threshold

from $10,000 to $15,200. District purchases of $15,000 or more require public notice by advertisement once a week for three weeks in not less than two newspapers of general circulation. The Board must accept the lowest responsible bid (where kind, quality, and material are equal). Boards may reject any and all bids or select a single item from any bid. Section 521 of the School Code permits purchases to be made through intergovernmental cooperative agreements (joint purchase agreements). School entities may also “piggy-back” on state or other government contracts following the appropriate legal requirements. Even though purchasing may require competitive bidding, Boards may establish reasonable criteria such as color, unit/size, or any other reasonable criteria specific to the District’s needs. The School Code also provides for the exemption of several items from competitive bids. The exceptions include but are not limited to: globes, maps, textbooks, educational films, and teacher demonstration devices. Services are also excluded from the competitive bidding requirement but school districts may choose to bid service agreements and contracts. Cash Management and Investments Statutes

Section 440.1 of the Public School Code permits the investment of funds in (a) United States Treasury bills; (b) short-term obligations of the United States Government or its agencies or instrumentalities; (c) obligations of the United States of America or any of its agencies or instrumentalities backed by the full faith and credit of the United States of America; (d) obligations of the Commonwealth of Pennsylvania or any of its agencies or instrumentalities backed by the full faith and credit of the Commonwealth; (e) obligations of any political subdivision of the Commonwealth of Pennsylvania or any of its agencies or instrumentalities backed by the full faith and credit of the political subdivision; or (f) deposits in savings accounts, time deposits or share accounts of institutions insured by the Federal Deposit Insurance Corporation or the National Credit Union Share Insurance Fund to the extent that such accounts are so insured, and, for any amounts above the insured maximum, provided that approved collateral as provided by law therefore shall be pledged by the depository. Payment of Financial Obligations

Section 439 and 607 of the Public School Code provide direction on the payment of financial obligations. Section 439 requires that all payments be approved by the Board of School Directors. An order to pay must be signed directly or through facsimile signature by the Board President. Bills may be paid prior to Board approval for certain conditions that include the receipt of a discount or the avoidance of a late charge or due to other advantages that may accrue to the District such as increased interest income through proper cash management. Section 607 requires that proper school orders be drawn prior to payment, that there be sufficient funds in the treasury, and that a separate order be drawn for each account or payment. Boards are also permitted to establish policy regarding process and procedures for the disbursements of school funds including such matters as payments prior to Board approval. The Fiscal Code of the Commonwealth (as amended by Act 138 of 1994) also requires political subdivisions, including school entities, to pay interest penalties to certain qualified small businesses for regular, every day, normal goods and services when payments are more than fifteen (15) days past due. Past due is defined as the terms for payment as specified in the contract or thirty (30) days after receipt of a proper invoice. The Public Works Contract Regulation Law (as amended by Act 142 of 1994) regulates the payment to contractors and subcontractors working on public construction projects. Under the law, school districts are required to make payment or incur interest penalties to contractors and subcontractors within twenty (20) days after delivery of the invoice unless other terms are set forth in contract documents to which school districts must adhere or incur interest penalties.

Construction of Facilities

Boards are charged with the requirement to provide the necessary grounds and suitable buildings to accommodate all school-age children in the district. This authority also includes the renovation and expansion of existing facilities. In most cases, school districts seeking state reimbursement are required to participate in PlanCon, an acronym for the Pennsylvania Department of Education’s Planning Construction Workbook. The process involves a number of phases, beginning with a definition of the project and justification of its need. Succeeding steps include: site approval; estimated project cost data; architectural reviews; cost data based on actual bids; and finally, approval of the bond issue or other funding mechanism. Specific requirements are detailed in regulations adopted by the State Board of Education and in standards promulgated by the Pennsylvania Department of Education. School Boards are required by Act 34 of 1973 to conduct public hearings. A second hearing is required if the bids received for a construction project exceed the initial Department of Education approved estimates by eight (8) percent. Act 34 is also referred to as the “Taj Mahal Law,” because it requires voter approval of any building project that exceeds per-pupil cost figures that are revised annually to reflect changes in the cost of living. Alterations to existing buildings are excluded from this requirement. School buildings may be financed in a variety of ways that include: local authority, state authority, general obligation bonds or local funds. Audits of Financial Records

All school districts are required to have an annual audit of financial records. The audit must be completed by an independent certified public accountant. Such audit must be prepared in accordance with Generally Accepted Accounting Principles (GAAP) to insure consistency. Completion of the audit and issuance of the audit report marks the end of the budget cycle for a single year. In addition to the requirement of an annual audit, Section 2553 of the Public School Code requires the comptroller of the Department of Education to perform regular audits and field audits and may, at his or her discretion, perform special audits to verify receipts and expenditures. Such audits are usually limited to specific use of program funds given for state and federal projects.

The state Fiscal Code requires the auditor general’s office to audit the accounts and records of all school districts. Examination is made by the Auditor General of receipts and expenditures related to state payments for public education. The purpose is to verify that the monies received from the Commonwealth were properly paid and that the District properly complied with all laws and regulations. The Bureau of School Audits of the Auditor General’s office has also published specific guidelines for the audit of student activity funds (Agency Funds). The objectives are to insure that basic internal controls are established for effective management of the organization; that all cash intended for the organization is received, promptly recorded, reconciled and kept under adequate security; that cash is disbursed only upon proper authorization, for valid purposes, and is properly recorded; that purchases and accounts payable are supported by appropriate documentation, promptly paid and properly recorded; and that inventory is appropriately safeguarded and properly recorded. SIGNIFICANT BOARD POLICY AND PROCEDURES THAT AFFECT THE BUDGET

The Board of Directors is an extension of the State Legislature with the responsibility to provide for a thorough and efficient education for the students of the Commonwealth based on local control of community schools. To accomplish this responsibility, the Board of Directors is granted authority through the Public School Code and the Pennsylvania constitution to establish policy for the operation of the

school system. Policies are plans and procedures that are developed to provide guidelines for desired actions. The Board of School Directors is only required by law to prepare a general operating budget. However, in addition to this budget, the district prepares a food service and capital project fund budget.

Summarized below is the significant policies of the School District of Cheltenham Township which impact the budget development and implementation. Policy #601 Objectives and Procedures This policy states that the board requires the Superintendent and Business Manager to establish sound accounting principals based upon State and Federal recommended accounting procedures. Policy #609 Investment of District Funds This policy of the board defines the primary objectives of investment activities in priority order to be legality, safety, liquidity and yield. Policy #610 Bidding This policy states that all supplies and contracts for construction or repair of school property over $10,000 must be bid. All purchases under $4,000 must receive three phone quotes except where the district has applied and been approved for a mandate waiver through the Pennsylvania Department of Education. (The Department of Education granted an exception to the policy that temporarily allowed the District to raise both the quotation threshold and the bidding threshold.) Policy #612 Purchases Not Budgeted This policy states that when an expenditure needs to be made for which funds are not budgeted, a transfer of surplus funds can be made in the final nine months of the fiscal year. In the event of an emergency the board secretary can authorize a purchase. Policy #613 Cooperative Purchasing This policy authorizes the business manager to negotiate cooperative purchase agreements for services, supplies and equipment with other political subdivisions in accordance with the Pennsylvania School code and, with approval by the Board of School Directors and the participating contracting body on the final terms. Policy #614 Payroll Authorization This policy authorizes payment of employees only after personnel actions are approved by the Board of School Directors. Policy #620 Designation of Fund Balance This policy requires maintenance of a fund balance in accordance with the Pennsylvania School Code provisions. Designations are to be made on a yearly basis at the conclusion of the independent audit. Policy #622 Financial Reporting Policy This policy delegates the implementation of GASB 34 to the Director of Business Affairs with a dollar threshold for capitalization established by the Director of Business Affairs.

Budget Calendar DATE (assumes no special meetings) Act 1 or School Code deadlines in italics

TYPE OF EVENT

DESCRIPTION

December 15, 2009 Certification Deadline for the Board of School Directors to certify to PDE the amount of tax credits due for residents who pay taxes on salaries, wages, commissions, or other compensation to Philadelphia

December 29, 2009 Act 1 deadline – 30 days before deadline for displaying preliminary budget

Notice Deadline for PDE to notify the District of the years from which data will be used for calculating eligibility for special education, school improvement plan, per student local revenue/instruction expense, and maintenance of revenue exceptions

December 31, 2009 Act 1 deadline – 60 days before deadline for Homestead/Farmstead Applications

Notice Deadline for the District to send notice by first class mail to the owner of each parcel of residential property regarding Homestead and Farmstead Applications – can be limited to owners of properties that are not currently receiving the exclusion or whose exclusion is set to expire

January 12, 1010

Meeting BOARD ACTION

The School Board either (a) directs that the preliminary budget proposal be made available for inspection by January 20, 2010 and (b) authorizes advertisement of intent to adopt preliminary budget proposal

OR adopts a resolution certifying that the School Board will not increase taxes in excess of the Index of 2.9%, in which case the District cannot seek exceptions and the June 30 budget deadline and related deadlines would apply

January 20, 2010 Act 1 deadline – at least 20 days prior to adoption of preliminary budget

Allow Inspection

Deadline for the District to allow inspection of preliminary budget proposal

January 29, 2010 Act 1 deadline – at least 10 days prior to adoption of preliminary budget

Public Notice Deadline for the Board of School Directors to give public notice of its intent to adopt the preliminary budget proposal

February 9, 2010 Act 1 deadline – February 17, 2010 – 90 days prior to primary election

Meeting Adopt Preliminary Budget BOARD ACTION

The School Board adopts Preliminary Budget for the 2010-11 fiscal year and authorizes submission of exceptions to referendum to PDE or court, if necessary

February 22, 2010 Act 1 deadline – February 22, 2010 – 85 days prior to primary election

Submission If the Preliminary Budget Proposal includes an increase of any tax levied for or in support of the support of public schools, this is the deadline for the District to submit tax information to PDE

February 25, 2010 Act 1 deadline – at least one week prior to seeking exceptions

Public Notice Deadline for the District to advertise intent to seek exception(s) to referendum – 1 newspaper of general circulation and on website

March 1, 2010 Submission Deadline for property owners to submit Homestead/Farmstead Applications

March 4, 2010 Act 1 deadline – March 4, 2010 – 75 days prior to primary election

Submission Deadline for PDE to inform the District if proposed tax increase exceeds the index Deadline to submit referendum exceptions to PDE or court

March 9, 2010 Act 1 deadline - March 19, 2010 – 60 days prior to primary election

Meeting Adoption BOARD ACTION, IF NECESSARY

If no exceptions requested from PDE or court or if exceptions requested, even if granted, would require raising tax rate by more than the index, then the Board of School Directors can adopt a referendum question seeking voter approval to increase the rate of taxes by more than the index and submit the question to the County Board of Elections no later than March 19, 2010

March 24, 2010 Act 1 deadline – March 24, 2010 – 55 days prior to primary election

Ruling Deadline for PDE and court to rule on exceptions and inform the District of decision

March 29, 2010 Act 1 deadline – March 29, 2010 – 50 days prior to primary election

Submission BOARD ACTION, IF NECESSARY

If exceptions denied - deadline for the District to submit a referendum question seeking voter approval to increase the rate of taxes by more than the index to the County Board of Elections - No meeting currently scheduled for this action – if necessary, a special meeting would have to be scheduled

May 1, 2010 (Saturday) Notice Deadline for PDE to notify the District of the amount of Property Tax Reduction Allocation Deadline for county assessor to submit report to the District

April 13, 2010 School Code deadline – at least 30 days prior to budget adoption

Meeting Adoption BOARD ACTION

The School Board adopts proposed final budget

May 18, 2010 Election Primary Election May 19, 2010 School Code deadline – at least 20 days prior to budget adoption

Allow Inspection

Deadline for the District to allow inspection of proposed final budget

May 28, 2010 School Code deadline – at least 10 days prior to budget adoption

Public Notice Deadline for the School Board to give notice of intent to adopt final budget

June 8, 2010 School Code deadline – June 30, 2010

Meeting Adopt Budget BOARD ACTION

The School Board adopts budget for the 2010-11 fiscal year

June 23, 2010 School Code deadline – within 15 days after final budget adoption

Submission Deadline for the School Board to file copy of the 2010-11 budget with PDE

2010-2011 SCHOOL CALENDAR

ORGANIZATIONAL CHART

FINANCIAL SECTION  

School Budget Projection Model: Short Version Summary

School District of Cheltenham Township

School District of Cheltenham Township, Five-Year Projections Model

Revenue Summary for the General Fund

2007 2008 2009 2010 2011 2012 2013 2014 2015Revenues Actual Actual Actual Budget Projected Projected Projected Projected ProjectedReal Estate Taxes 58,937,426 64,700,620 64,991,755 67,851,169 72,781,641 79,636,722 83,230,848 86,987,309 90,913,439 Act 511 Taxes 4,238,755 4,841,681 3,667,897 4,482,000 4,619,910 4,721,548 4,825,422 4,931,581 5,040,076 Other Local Income 3,661,495 5,313,676 5,341,559 6,049,160 5,192,332 5,306,563 5,423,308 5,542,620 5,664,558 Basic Instructional and Operating Subsidy 4,438,083 4,526,544 4,629,392 4,619,728 4,670,881 4,773,640 4,878,660 4,985,991 5,095,683 Revenue for Specific Educational Programs 2,217,432 2,224,931 2,411,653 2,312,280 2,286,206 2,336,503 2,387,906 2,440,440 2,494,129 Other State Revenue 4,552,656 5,498,594 8,206,451 7,906,676 9,650,475 6,956,822 12,261,366 13,508,140 14,426,916 Federal Revenue 1,604,737 1,005,567 898,482 1,204,131 846,319 864,938 883,967 903,414 923,289 Other Financing Sources - - 837 5,000 502,000 513,044 524,331 535,866 547,655 TOTAL REVENUES 79,650,584 88,111,612 90,148,026 94,430,144 100,549,764 105,109,780 114,415,807 119,835,361 125,105,746

Expenditures Actual Actual Actual Budget Projected Projected Projected Projected ProjectedSalaries and Benefits 55,003,970 57,029,011 58,785,439 61,943,721 67,900,102 72,627,225 86,746,531 92,722,974 98,249,070 Operating Expenses 20,224,418 21,004,179 23,111,840 25,124,867 27,036,899 27,631,711 28,239,608 28,860,880 29,495,819 Debt Service/Transfers 3,937,871 7,963,914 5,435,015 5,882,451 5,612,763 6,571,271 6,589,748 6,604,743 6,622,000 TOTAL EXPENDITURES 79,166,259 85,997,103 87,332,294 92,951,039 100,549,764 106,830,206 121,575,887 128,188,597 134,366,890

Initiatives Actual Actual Actual Budget Projected Projected Projected Projected ProjectedIntitiatives Total - - - - - - - - -

Net Operating Expenditures 484,325 2,114,509 2,815,732 1,479,105 0 (1,720,427) (7,160,080) (8,353,236) (9,261,144)

Fund BalanceUndes. Unres. Beginning of Year 2,651,525 4,130,630 4,130,630 2,410,203 (4,749,877) (13,103,113) Undes. Unres. End of Year 4,130,630 4,130,630 2,410,203 (4,749,877) (13,103,113) (22,364,257)

Real Estate Taxes 72%

Act 511 Taxes 5%

Other Local Income 5%

Basic Instructional and Operating Subsidy

5%

Revenue for Specific Educational Programs

2%

Other State Revenue 10% Federal Revenue

1%

2010/11 Revenues

Salaries and Benefits 34%

Operating Expenses 13%

Debt Service/Transfers 3%

TOTAL EXPENDITURES

50%

2010/11 Expenditures

School District of Cheltenham Township, Five-Year Projections ModelRevenue Summary for the General Fund

HISTORICAL DATA PROJECTED DATA2007 2008 2009 2010 2011 2012 2013 2014 2015act_07 act_08 act_09 var_01 proj_01 proj_02 proj_03 proj_04 proj_05

REVENUES Actual Actual Actual Budget Projected Projected Projected Projected Projected

Local SourcesReal Estate TaxesCurrent Real Estate Taxes 58,618,766 64,402,981 64,845,738 67,261,171 72,551,641 79,401,662 82,990,617 86,741,793 90,662,522 Interim Real Estate Taxes 225,051 208,055 59,678 500,000 120,000 122,640 125,338 128,096 130,914 Public Utility Realty Taxes 93,609 89,584 86,339 89,998 110,000 112,420 114,893 117,421 120,004

Total Real Estate Taxes 58,937,426$ 64,700,620$ 64,991,755$ 67,851,169$ 72,781,641$ 79,636,722$ 83,230,848$ 86,987,309$ 90,913,439$

Act 511 TaxesEmergency and Municipal Services Tax 80,958 32,877 50,047 48,000 55,000 56,210 57,447 58,710 60,002 Earned Income Taxes 2,957,279 2,648,205 2,729,623 2,750,000 3,434,910 3,510,478 3,587,709 3,666,638 3,747,304 Real Estate Transfer Taxes 834,625 1,762,563 525,479 1,300,000 750,000 766,500 783,363 800,597 818,210 Mercantile Taxes 365,893 398,035 362,748 384,000 380,000 388,360 396,904 405,636 414,560 Total Act 511 Taxes 4,238,755$ 4,841,681$ 3,667,897$ 4,482,000$ 4,619,910$ 4,721,548$ 4,825,422$ 4,931,581$ 5,040,076$

Other Local RevenueDelinquent on Taxes Levied/Assessed by the LEA 1,574,797 1,729,860 1,882,562 1,500,000 1,800,000 1,839,600 1,880,071 1,921,433 1,963,704 Earnings on Investments 1,014,639 981,868 539,127 730,000 250,000 255,500 261,121 266,866 272,737 Revenue From Student Activities - 17,517 51,281 9,468 57,500 58,765 60,058 61,379 62,729 Rev from Intermediary Srcs/Pass-Thru Funds from Other Schls - - - 1,675,421 - - - - - State Revenue Received from Other Public Schools - - 20,000 - - - - - - State Revenue Received from Other Intermediary Schools - - - - - - - - - Federal Revenue Received from Other Public Schools - 35,653 1,200 - - - - - - Federal IDEA received from an IU - 700,569 694,016 - 925,421 945,780 966,587 987,852 1,009,585 Rentals 8,301 98,862 49,906 20,000 50,000 51,100 52,224 53,373 54,547 Contributions and Donations from Private Sources - 356 17,017 - - - - - - Tuition from Patrons - - - 184,000 - - - - - Regular Day School Tuition 66,868 105,886 25,900 - - - - - - Summer School Tuition 180,597 198,807 107,250 - 118,000 120,596 123,249 125,961 128,732 Receipts from Other LEAS in PA - Education - - 2,190 - - - - - - Other Tuition From Patrons - 3,102 25,640 - 24,600 25,141 25,694 26,260 26,837 Revenue From Community Service Activities 688,492 741,535 778,686 870,305 910,911 930,951 951,432 972,363 993,755 Refunds of Prior Years' Expenditures - 633,726 92,883 - 25,000 25,550 26,112 26,687 27,274 All Other Local Revenues 127,801 65,934 1,053,900 - 1,000,750 1,022,767 1,045,267 1,068,263 1,091,765 Refunds and Other Misc. Revenue - - - 1,059,966 30,150 30,813 31,491 32,184 32,892

Total Other Local Revenue 3,661,495$ 5,313,676$ 5,341,559$ 6,049,160$ 5,192,332$ 5,306,563$ 5,423,308$ 5,542,620$ 5,664,558$

TOTAL LOCAL REVENUE 66,837,676$ 74,855,976$ 74,001,211$ 78,382,329$ 82,593,883$ 89,664,833$ 93,479,578$ 97,461,511$ 101,618,074$

State SourcesBasic Instructional and Operating SubsidiesBasic Instructional Subsidy (In Gross) 3,976,094 4,055,779 4,177,336 4,136,728 4,260,881 4,354,620 4,450,422 4,548,331 4,648,395 Charter Schools 108,546 131,322 143,956 125,000 95,000 97,090 99,226 101,409 103,640 Tuition for Orphans & Children Placed in Private Homes 353,444 339,443 308,100 358,000 315,000 321,930 329,012 336,251 343,648

Total Basic Instructional and Operating Subsidies 4,438,083$ 4,526,544$ 4,629,392$ 4,619,728$ 4,670,881$ 4,773,640$ 4,878,660$ 4,985,991$ 5,095,683$

Revenue for Specific Educational ProgramsHomebound Instruction 1,930 1,773 1,472 1,600 1,600 1,635 1,671 1,708 1,746 Alternative Education - - 34,976 - - - - - - Driver Education - Student 4,760 - - - - - - - - Special Education - Funding for School Aged Pupils 2,210,742 2,223,158 2,375,205 2,310,680 2,284,606 2,334,867 2,386,234 2,438,732 2,492,384

Total Revenue for Specific Educational Programs 2,217,432$ 2,224,931$ 2,411,653$ 2,312,280$ 2,286,206$ 2,336,503$ 2,387,906$ 2,440,440$ 2,494,129$

Other State RevenueTransportation (Regular and Additional) 991,915 1,074,170 1,246,140 1,020,000 1,246,140 1,273,555 1,301,573 1,330,208 1,359,472 Rental and Sinking Fund Payments 124,393 622,157 440,373 579,289 640,000 528,029 527,941 525,817 522,041 Health Services 121,860 117,761 111,976 112,000 112,000 114,464 116,982 119,556 122,186 Supplemental Reimbursement of Basic ED Subsidies - - 3,220,580 3,029,081 3,416,271 - - - - PA Accountability Grant 301,412 313,971 309,889 313,971 309,889 316,707 323,674 330,795 338,072 Dual Enrollment - - 15,862 31,723 - - - - - Project 720 High School Reform - - - - - - - - - Additional grants not listed elsewhere 49,854 46,200 50,000 101,000 100,000 102,200 104,448 106,746 109,095 Revenue from Social Security Payments 1,657,087 1,704,158 1,532,278 1,757,242 1,778,043 1,849,165 1,923,131 2,000,057 2,080,059 Revenue from Retirement Payments 1,306,135 1,490,178 1,062,010 962,370 2,048,132 2,772,702 7,963,616 9,094,961 9,895,990 Classrooms for the Future - 130,000 217,343 - - - - - -

Total Other State Revenue 4,552,656$ 5,498,594$ 8,206,451$ 7,906,676$ 9,650,475$ 6,956,822$ 12,261,366$ 13,508,140$ 14,426,916$

TOTAL STATE REVENUE 11,208,171$ 12,250,069$ 15,247,496$ 14,838,684$ 16,607,562$ 14,066,965$ 19,527,932$ 20,934,570$ 22,016,728$

Federal SourcesRevenue from Federal SourcesIDEA, Part B 708,284 - - - - - - - - IDEA, Section 619 130,681 - - - - - - - - NCLB - Education of Disadvantaged Children 549,997 749,692 655,596 955,352 616,260 629,818 643,674 657,835 672,307 NCLB - Preparing, Training and Recruiting Teachers/Principals - 174,025 165,390 162,147 152,418 155,771 159,198 162,701 166,280 NCLB - Language Instruction - 17,820 - - 12,344 12,616 12,893 13,177 13,467 NCLB - 21st Century Schools - 8,255 10,698 13,132 - - - - - NCLB - Promoting Informed Parental Choice and Innovative Programs - 4,556 - 3,500 - - - - - Other ESEA & IDEA Programs 186,326 (5,333) - - - - - - - Drug Free Schools 28,877 7,157 - - - - - - - Other Restricted Federal Grants-in-Aid Through the Commonwealth - 43,870 1,500 - - - - - - Medical Assistance Reimbursement Through the Commonwealth 572 5,524 65,297 70,000 65,297 66,734 68,202 69,702 71,236

TOTAL FEDERAL REVENUE 1,604,737$ 1,005,567$ 898,482$ 1,204,131$ 846,319$ 864,938$ 883,967$ 903,414$ 923,289$

Other Financing SourcesRevenue from Other Financing SourcesSale or Compensation for Loss of Fixed Assets - - 837 5,000 2,000 2,044 2,089 2,135 2,182 Intrafund Transfers In - - - - 500,000 511,000 522,242 533,731 545,473

TOTAL OTHER FINANCING SOURCES -$ -$ 837$ 5,000$ 502,000$ 513,044$ 524,331$ 535,866$ 547,655$

TOTAL REVENUES 79,650,584$ 88,111,612$ 90,148,026$ 94,430,144$ 100,549,764$ 105,109,780$ 114,415,807$ 119,835,361$ 125,105,746$

School District of Cheltenham Township, Five-Year Projections ModelExpenditure Summary for the General Fund

HISTORICAL DATA PROJECTED DATA2007 2008 2009 2010 2011 2012 2013 2014 2015

EXPENDITURES Actual Actual Actual Budget Projected Projected Projected Projected Projected

PERSONNELSalaries and BenefitsPersonnel Services - Salaries 41,823,210 42,470,731 - - - - - - - Salaries - Admin - - 88,199 181,660 - - - - - Salaries - Admin. - - 4,099,648 4,425,511 4,587,312 4,770,804 4,961,637 5,160,102 5,366,506 Salaries - Team Leader - - 91,030 - - - - - - Salaries - Prof. - - 29,326,289 32,745,743 31,507,301 32,767,593 34,078,297 35,441,429 36,859,086 Salaries - Prof. Sub - - 53,812 67,000 65,297 67,909 70,625 73,450 76,388 Salaries - Prof. OT - - 999,909 954,888 995,403 1,035,219 1,076,628 1,119,693 1,164,481 Salaries - Prof. Sabbatical - - 356,208 - 297,361 309,255 321,626 334,491 347,870 Salaries - Prof. Severence - - 108,402 - 146,250 152,100 158,184 164,511 171,092 Cash in Lieu of Medical - - 123,888 - - - - - - Salaries - Prof. Intern - - 210,603 10,166 126,687 131,754 137,025 142,506 148,206 Salaries - Coaches - - 2,031,297 981,811 2,314,760 2,407,350 2,503,644 2,603,790 2,707,942 Salaries - OT - - 22,330 48,858 17,191 17,879 18,594 19,338 20,111 Salaries - Tech OT - - 1,831 - - - - - - Salaries - Tech Para Prof - - - - 237,478 246,977 256,856 267,130 277,816 Salaries - Clerical - - 1,728,198 1,756,576 1,809,376 1,881,751 1,957,021 2,035,302 2,116,714 Salaries - Clerical Subs - - 21,863 - - - - - - Salaries - Clerical OT - - 70,798 - 109,423 113,800 118,352 123,086 128,009 Salaries - Clerical Summer - - - - - - - - - Salaries - Printing - - 3,120 8,000 8,000 8,320 8,653 8,999 9,359 Salaries - Facilities - - 1,120,645 1,058,059 1,336,535 1,389,996 1,445,596 1,503,420 1,563,557 Salaries - Facilities Sub - - 5,473 - 8,000 8,320 8,653 8,999 9,359 Salaries - Facilities OT - - 174,570 175,000 187,004 194,484 202,264 210,354 218,768 Salaries - Custodian - - - - 1,594,958 1,658,756 1,725,107 1,794,111 1,865,875 Salaries - Custodian Sub - - 159,762 - 170,000 176,800 183,872 191,227 198,876 Salaries - Custodian OT - - 272,577 300,000 275,000 286,000 297,440 309,338 321,711 Salaries - Custodian Summer - - 8,673 40,025 - - - - - Salaries - Instruc. Asst. - - 2,296,584 1,732,026 2,394,983 2,490,782 2,590,414 2,694,030 2,801,791 Salaries - IA OT - - 6,246 - - - - - - Group Insurance 6,909,098 7,824,622 9,282,515 - 11,533,424 12,686,766 13,955,443 15,350,987 16,886,086 Social Security Contributions 3,077,926 3,164,322 3,353,967 - 3,424,287 3,561,258 3,703,709 3,851,857 4,005,931 Retirement Contributions 2,613,144 2,983,904 2,113,181 - 4,215,916 5,707,386 16,392,466 18,721,250 20,370,105 Tuition Reimbursements 118,192 157,793 191,017 - 180,000 185,400 190,962 196,691 202,592 Unemployment Compensation 48,604 28,911 34,031 - 48,000 48,000 48,000 48,000 48,000 Workmen's Compensation 413,796 398,727 428,771 - 310,156 322,562 335,465 348,883 362,839 Personnel Services - Employee Benefits - - - 17,458,398 - - - - -

Total Salaries and Benefits 55,003,970$ 57,029,011$ 58,785,439$ 61,943,721$ 67,900,102$ 72,627,225$ 86,746,531$ 92,722,974$ 98,249,070$

TOTAL PERSONNEL 55,003,970$ 57,029,011$ 58,785,439$ 61,943,721$ 67,900,102$ 72,627,225$ 86,746,531$ 92,722,974$ 98,249,070$

OPERATING Operating ExpensesPurchased Professional & Technical Services 4,072,596 4,586,335 5,130,679 4,428,121 5,936,438 6,067,040 6,200,515 6,336,926 6,476,338 Purchased Property Services 2,488,868 2,312,354 2,015,004 2,349,982 2,411,750 2,464,809 2,519,034 2,574,453 2,631,091 Other Purchased Services - - - 11,999,353 - - - - - Student Transportation Services 242,788 71,207 85,409 - 88,093 90,031 92,012 94,036 96,105 St. Tr Svc from an LEA In PA - - - - - - - - - St. Tr Svc-Contr Carrier 6,844,235 7,098,781 6,838,773 - - - - - - St Trans - Public Carriers - 49,759 38,117 - 8,111,421 8,289,872 8,472,249 8,658,639 8,849,129 St Tr Svc from the IU 118,647 240,560 158,266 - - - - - - St Tr Svc from other sources - - - - - - - - - Insurance-General 14,878 7,599 40,091 - 20,937 21,398 21,868 22,349 22,841 Fire Insurance - - - - - - - - - Automotive Liability Insurance 32,141 28,843 24,638 - 36,000 36,792 37,601 38,429 39,274 General Property and Liability Insurance 150,295 176,289 120,769 - - - - - - Other Insurance 32,385 30,638 - - - - - - - Communications 424,524 324,060 409,280 - 521,109 532,573 544,290 556,264 568,502 Advertising 38,574 64,309 60,709 - 68,000 69,496 71,025 72,587 74,184 Printing & Binding 56,621 43,500 59,903 - 49,112 50,192 51,297 52,425 53,579 Tuition 2,942,329 2,854,754 3,192,080 - 3,588,153 3,667,092 3,747,768 3,830,219 3,914,484 Travel 63,793 74,592 37,248 - 228,585 233,614 238,753 244,006 249,374 Miscellaneous Purchased Services 119,417 170,911 146,469 - 40,579 41,472 42,384 43,317 44,270 Supplies - - - 3,898,659 - - - - - General Supplies 1,393,236 1,301,897 1,515,745 - 2,399,181 2,451,963 2,505,906 2,561,036 2,617,379 Energy 501,309 652,108 906,289 - 810,730 828,566 846,795 865,424 884,463 Food - 190 - - - - - - - Books & Periodicals 499,695 502,070 1,192,655 - 829,110 847,350 865,992 885,044 904,515 Property - - - 1,162,230 - - - - - Equipment - Original & Additional 44,004 239,919 827,230 - 322,269 329,359 336,605 344,010 351,578 Equipment - Replacement 13,469 36,103 146,693 - 675,070 689,922 705,100 720,612 736,465 Other Objects 130,614 137,400 165,794 1,286,522 900,362 920,170 940,414 961,103 982,247

Total Operating Expenses 20,224,418$ 21,004,179$ 23,111,840$ 25,124,867$ 27,036,899$ 27,631,711$ 28,239,608$ 28,860,880$ 29,495,819$

Debt Service and TransfersInterest - 1,664,569 2,156,409 2,439,170 2,348,228 2,360,026 2,216,426 2,063,968 1,933,388 Refund of Prior Year's Receipts 183 4,345 979 - - - - - - Other Financing Uses - - - - - - - - - Redemption of Principal - 2,845,000 2,965,000 3,125,000 2,505,000 3,435,000 3,580,000 3,730,000 3,860,000 Authority Obligations - - - - - - - - - Fund Transfers 3,937,688 3,450,000 312,627 318,281 759,535 776,245 793,322 810,775 828,612

Total Debt Service and Transfers 3,937,871$ 7,963,914$ 5,435,015$ 5,882,451$ 5,612,763$ 6,571,271$ 6,589,748$ 6,604,743$ 6,622,000$

TOTAL OPERATING AND DEBT SERVICE 24,162,289$ 28,968,092$ 28,546,856$ 31,007,318$ 32,649,662$ 34,202,982$ 34,829,357$ 35,465,623$ 36,117,819$

TOTAL EXPENDITURES 79,166,259$ 85,997,103$ 87,332,294$ 92,951,039$ 100,549,764$ 106,830,206$ 121,575,887$ 128,188,597$ 134,366,890$

NET OPERATING EXPENDITURES (Pre-Initiatives) 484,325$ 2,114,509$ 2,815,732$ 1,479,105$ -$ (1,720,427)$ (7,160,080)$ (8,353,236)$ (9,261,144)$

INITIATIVES

Initiatives Total - - - - -

OPERATING EXPENDITURES (Post-Initiatives) 484,325$ 2,114,509$ 2,815,732$ 1,479,105$ -$ (1,720,427)$ (7,160,080)$ (8,353,236)$ (9,261,144)$

UNDES. UNRES. FUND BALANCE (Beginning of Year) 2,651,525$ 4,130,630$ 4,130,630$ 2,410,203$ (4,749,877)$ (13,103,113)$ UNDES. UNRES. FUND BALANCE (End of Year) 4,130,630$ 4,130,630$ 2,410,203$ (4,749,877)$ (13,103,113)$ (22,364,257)$

School District of Cheltenham Township, Five-Year Projections ModelExpenditure Summary for the General Fund

HISTORICAL DATA PROJECTED DATA2007 2008 2009 2010 2011 2012 2013 2014 2015act_07 act_08 act_09 var_01 proj_01 proj_02 proj_03 proj_04 proj_05

EXPENDITURES Actual Actual Actual Budget Projected Projected Projected Projected Projected

REGULAR PROGRAMSRegular ProgramsPersonnel Services - Salaries 23,044,090 23,555,229 - - - - - - - Salaries - Team Leader - - 85,864 - - - - - - Salaries - Prof. - - 22,981,565 25,209,911 24,915,945 25,912,583 26,949,086 28,027,050 29,148,132 Salaries - Prof. OT - - 89,279 160,853 106,147 110,393 114,809 119,401 124,177 Salaries - Prof. Sabbatical - - 356,208 - 297,361 309,255 321,626 334,491 347,870 Salaries - Prof. Severence - - 108,402 - 146,250 152,100 158,184 164,511 171,092 Cash in Lieu of Medical - - 123,179 - - - - - - Salaries - Prof. Intern - - 210,603 10,166 126,687 131,754 137,025 142,506 148,206 Salaries - Instruc. Asst. - - 707,971 462,092 691,672 719,339 748,112 778,037 809,158 Salaries - IA OT - - 796 - - - - - - Personnel Services - Employee Benefits - - - 10,703,538 - - - - - Group Insurance 3,809,617 4,520,342 5,758,156 - 5,830,769 6,413,846 7,055,230 7,760,754 8,536,829 Social Security Contributions 1,730,021 1,821,657 1,906,952 - 1,927,296 2,004,388 2,084,563 2,167,946 2,254,664 Retirement Contributions 1,475,911 1,689,035 1,163,752 - 2,283,087 3,090,778 8,877,176 10,138,305 11,031,226 Tuition Reimbursements 101,060 121,525 141,523 - 175,000 180,250 185,658 191,227 196,964 Unemployment Compensation 27,451 16,349 21,000 - 48,000 48,000 48,000 48,000 48,000 Workmen's Compensation 233,980 225,479 233,180 - 173,045 179,967 187,165 194,652 202,438 Purchased Professional & Technical Services 118,577 587,830 515,373 736,600 837,083 855,499 874,320 893,555 913,213 Purchased Property Services 45,591 45,529 51,425 49,930 18,920 19,336 19,762 20,196 20,641 Other Purchased Services - - - 384,606 - - - - - Student Transportation Services - (6,607) 58,757 - 76,193 77,869 79,582 81,333 83,123 Communications - - 61 - 1,500 1,533 1,567 1,601 1,636 Advertising - - - - - - - - - Printing & Binding 24,097 12,585 11,956 - 6,912 7,064 7,219 7,378 7,541 Tuition 422,324 405,482 338,762 - 358,000 365,876 373,925 382,152 390,559 Travel 684 834 934 - 2,000 2,044 2,089 2,135 2,182 Supplies - - - 789,304 - - - - - General Supplies 250,388 333,330 447,913 - 349,600 357,291 365,152 373,185 381,395 Books & Periodicals 403,795 400,795 855,083 - 654,713 669,117 683,837 698,882 714,257 Property - - - 280,030 - - - - - Equipment - Original & Additional - 132,581 610,928 - 262,820 268,602 274,511 280,551 286,723 Equipment - Replacement 2,701 10,273 6,656 - 13,115 13,404 13,698 14,000 14,308 Other Objects - 5,893 16,093 21,675 4,687 4,790 4,895 5,003 5,113

Total Regular Programs 31,690,288$ 33,878,140$ 36,802,373$ 38,808,705$ 39,306,802$ 41,895,078$ 49,567,192$ 52,826,850$ 55,839,446$

SPECIAL PROGRAMSSpecial ProgramsPersonnel Services - Salaries 5,073,165 5,283,082 - - - - - - - Salaries - Prof. - - 4,531,066 4,556,579 4,839,370 5,032,945 5,234,263 5,443,633 5,661,378 Salaries - Prof. OT - - 76,360 - 20,000 20,800 21,632 22,497 23,397 Salaries - Facilities OT - - 71 - 76 79 82 85 89 Salaries - Instruc. Asst. - - 1,060,086 862,149 1,137,628 1,183,133 1,230,458 1,279,677 1,330,864 Personnel Services - Employee Benefits - - - 1,809,510 - - - - - Group Insurance 721,973 982,837 1,353,845 - 1,551,251 1,706,376 1,877,014 2,064,715 2,271,187 Social Security Contributions 324,998 389,070 454,023 - 360,326 374,739 389,729 405,318 421,530 Retirement Contributions 274,202 377,784 268,381 - 604,146 817,876 2,349,061 2,682,778 2,919,061 Tuition Reimbursements - 1,278 9,503 - - - - - - Unemployment Compensation 5,101 3,663 3,977 - - - - - - Workmen's Compensation 43,306 50,498 54,975 - 39,081 40,644 42,270 43,961 45,719 Purchased Professional & Technical Services 2,742,589 2,737,150 3,299,120 2,606,902 3,703,451 3,784,927 3,868,195 3,953,296 4,040,268 Purchased Property Services - - 80 5,000 5,000 5,110 5,222 5,337 5,455 Other Purchased Services - - - 1,959,400 - - - - - Student Transportation Services - 1,151 1,880 - 8,400 8,585 8,774 8,967 9,164 Communications - 26,460 121 - 500 511 522 534 545 Advertising - - - - - - - - - Printing & Binding - - 960 - - - - - - Tuition 1,561,451 1,629,189 1,796,684 - 1,857,180 1,898,038 1,939,795 1,982,470 2,026,085 Travel 11,990 5,756 1,772 - 7,250 7,410 7,573 7,739 7,909 Miscellaneous Purchased Services - - 13,069 - - - - - - Supplies - - - 186,965 - - - - - General Supplies 75,272 31,985 22,238 - 59,303 60,608 61,941 63,304 64,696 Books & Periodicals 39,205 14,265 129,274 - 33,500 34,237 34,990 35,760 36,547 Property - - - 410,000 - - - - - Equipment - Original & Additional 5,498 19,577 19,357 - 10,000 10,220 10,445 10,675 10,909 Other Objects 3,910 55,803 40,056 13,400 5,100 5,212 5,327 5,444 5,564

Total Special Programs 10,882,660$ 11,609,548$ 13,136,898$ 12,409,905$ 14,241,562$ 14,991,449$ 17,087,292$ 18,016,190$ 18,880,369$

VOCATIONAL PROGRAMSVocational ProgramsPersonnel Services - Salaries 731,135 753,558 - - - - - - - Salaries - Admin. - - 117,068 112,453 - - - - - Salaries - Prof. - - 690,536 689,929 886,339 921,793 958,664 997,011 1,036,891 Salaries - Prof. OT - - 640 - - - - - - Cash in Lieu of Medical - - 150 - - - - - - Personnel Services - Employee Benefits - - - 302,621 - - - - - Group Insurance 164,526 125,241 169,749 - 157,612 173,373 190,711 209,782 230,760 Social Security Contributions 74,062 51,719 60,910 - 72,681 75,588 78,612 81,756 85,026 Retirement Contributions 62,487 49,483 37,507 - 82,852 112,163 322,148 367,914 400,317 Tuition Reimbursements - - - - - - - - - Unemployment Compensation 1,162 480 440 - - - - - - Workmen's Compensation 9,865 6,624 7,599 - 6,343 6,597 6,861 7,135 7,420 Purchased Professional & Technical Services - - 7,258 - - - - - - Purchased Property Services - - 2,891 1,300 2,500 2,555 2,611 2,669 2,727 Other Purchased Services - - - 919,343 - - - - - Tuition 958,554 811,895 831,919 - 941,973 962,696 983,876 1,005,521 1,027,642 Supplies - - - 25,238 - - - - - General Supplies 23,234 29,323 26,771 - 21,385 21,855 22,336 22,828 23,330 Books & Periodicals 4,761 4,289 2,785 - 6,366 6,506 6,649 6,795 6,945 Property - - - 1,600 - - - - - Equipment - Original & Additional - 90 1,105 - 2,299 2,350 2,401 2,454 2,508 Equipment - Replacement - 858 4,433 - - - - - - Other Objects - - 70 100 - - - - -

Total Vocational Programs 2,029,786$ 1,833,559$ 1,961,831$ 2,052,584$ 2,180,350$ 2,285,476$ 2,574,869$ 2,703,864$ 2,823,568$

OTHER INSTRUCTIONAL PROGRAMSOther Instructional ProgramsPersonnel Services - Salaries 783,644 394,283 - - - - - - - Salaries - Admin. - - - 43,886 - - - - - Salaries - Team Leader - - 630 - - - - - - Salaries - Prof. - - 354,206 311,093 394,866 410,661 427,087 444,171 461,937 Salaries - Prof. Sub - - 53,292 67,000 65,297 67,909 70,625 73,450 76,388 Salaries - Prof. OT - - 30,751 - 67,964 70,683 73,510 76,450 79,508 Salaries - Clerical - - 10,515 3,000 9,200 9,568 9,951 10,349 10,763 Salaries - Instruc. Asst. - - 24,408 - 9,925 10,322 10,735 11,164 11,611 Personnel Services - Employee Benefits - - - 154,284 - - - - - Group Insurance 210,029 84,952 7,207 - 322 354 390 429 471 Social Security Contributions 53,736 35,080 40,359 - 48,181 50,108 52,113 54,197 56,365 Retirement Contributions 45,337 33,566 19,911 - 52,904 71,620 205,703 234,926 255,617 Unemployment Compensation 843 326 574 - - - - - - Workmen's Compensation 7,205 4,494 4,454 - 1,444 1,502 1,562 1,624 1,689 Purchased Professional & Technical Services 8,227 38,899 22,549 - 7,136 7,293 7,453 7,617 7,785 Purchased Property Services 345 - - - - - - - - Other Purchased Services - - - 484,060 - - - - - Student Transportation Services 242,788 429 1,034 - - - - - - Printing & Binding 1,400 661 - - 500 511 522 534 545 Tuition - 8,188 202,791 - 406,000 414,932 424,061 433,390 442,924 Travel 8,565 10,265 - - 500 511 522 534 545 Supplies - - - 48,000 - - - - - General Supplies 214,960 13,554 5,766 - 23,251 23,763 24,285 24,820 25,366 Books & Periodicals 8,419 8,748 31,870 - 18,501 18,908 19,324 19,749 20,184 Equipment - Original & Additional 20,095 - - - - - - - - Other Objects 10,832 8,471 - - - - - - -

Total Other Instructional Programs 1,616,426$ 641,916$ 810,316$ 1,111,323$ 1,105,991$ 1,158,644$ 1,327,843$ 1,393,404$ 1,451,700$

NON PUBLIC SCHOOL PROGRAMSNon Public School ProgramsPurchased Professional & Technical Services - - - - 23,855 24,380 24,916 25,464 26,025

Total Non Public School Programs -$ -$ -$ -$ 23,855$ 24,380$ 24,916$ 25,464$ 26,025$

COMMUNITY/JUNIOR COLLEGE PROGRAMSCommunity/Junior College ProgramsOther Purchased Services - - - 20,000 - - - - - Tuition - - 21,924 - 25,000 25,550 26,112 26,687 27,274 Supplies - - - 10,723 - - - - - Books & Periodicals - - 2,086 - 2,000 2,044 2,089 2,135 2,182

Total Community/Junior College Programs -$ -$ 24,010$ 30,723$ 27,000$ 27,594$ 28,201$ 28,821$ 29,456$

PRE-KINDERGARTENPre-Kindergarten ProgramsSalaries - Prof. OT - - - - 2,000 2,080 2,163 2,250 2,340 Purchased Professional & Technical Services - - 4,323 - - - - - - General Supplies - - - - 2,000 2,044 2,089 2,135 2,182

Total Pre-Kindergarten Programs -$ -$ 4,323$ -$ 4,000$ 4,124$ 4,252$ 4,385$ 4,522$

PUPIL PERSONNEL SERVICESPupil Personnel ServicesPersonnel Services - Salaries 1,839,856 2,054,137 - - - - - - - Salaries - Admin. - - 109,953 154,045 110,007 114,407 118,984 123,743 128,693 Salaries - Team Leader - - 365 - - - - - - Salaries - Prof. - - 6,750 1,109,182 76,099 79,143 82,309 85,601 89,025 Salaries - Prof. OT - - 700 9,552 - - - - - Salaries - Coaches - - 1,524,576 471,742 1,748,281 1,818,212 1,890,941 1,966,578 2,045,241 Salaries - OT - - 15,621 - 17,191 17,879 18,594 19,338 20,111 Salaries - Clerical - - 177,511 271,584 207,911 216,227 224,877 233,872 243,226 Salaries - Clerical OT - - 10,129 - 21,983 22,862 23,777 24,728 25,717 Personnel Services - Employee Benefits - - - 705,693 - - - - - Group Insurance 332,638 363,347 366,291 - 408,066 448,873 493,760 543,136 597,449 Social Security Contributions 149,739 150,047 147,126 - 158,638 164,984 171,583 178,446 185,584 Retirement Contributions 126,336 143,558 86,587 - 182,190 246,644 708,397 809,035 880,290 Tuition Reimbursements - - 2,817 - - - - - - Unemployment Compensation 2,352 1,391 1,005 - - - - - - Workmen's Compensation 19,952 19,215 17,360 - 13,777 14,328 14,901 15,497 16,117 Health Benefits - - - - - - - - - Other Employee Benefits - - - - - - - - - Purchased Professional & Technical Services 39,803 62,824 142,962 266,100 279,350 285,496 291,777 298,196 304,756 Purchased Property Services - - 359 26,750 5,000 5,110 5,222 5,337 5,455 Student Transportation Services - - - - 3,500 3,577 3,656 3,736 3,818 Communications - - 163 - - - - - - Printing & Binding 3,000 2,850 - - - - - - - Travel 2,789 4,766 3,718 - 25,200 25,754 26,321 26,900 27,492 Supplies - - - 55,650 - - - - - General Supplies 28,154 20,916 48,513 - 110,450 112,880 115,363 117,901 120,495 Books & Periodicals 7,857 4,206 3,769 - 13,170 13,460 13,756 14,058 14,368 Property - - - 12,800 - - - - - Equipment - Original & Additional - - 1,439 - 550 562 574 587 600 Other Objects 2,023 1,918 3,684 4,750 8,800 8,994 9,191 9,394 9,600

Total Pupil Personnel Services 2,554,499$ 2,829,175$ 2,671,397$ 3,087,848$ 3,390,163$ 3,599,391$ 4,213,982$ 4,476,084$ 4,718,039$

INSTRUCTIONAL STAFF SERVICESInstructional Staff ServicesPersonnel Services - Salaries 1,358,347 1,154,462 - - - - - - - Salaries - Admin. - - 639,690 1,143,401 1,270,597 1,321,421 1,374,278 1,429,249 1,486,419 Salaries - Team Leader - - 4,172 - - - - - - Salaries - Prof. - - 757,915 869,049 394,682 410,469 426,888 443,964 461,722 Salaries - Prof. Sub - - 520 - - - - - - Salaries - Prof. OT - - 82,367 132,050 100,000 104,000 108,160 112,486 116,986 Salaries - Coaches - - - - 270,730 281,559 292,822 304,534 316,716 Salaries - Clerical - - 243,785 269,059 197,439 205,337 213,550 222,092 230,976 Salaries - Clerical OT - - 95 - 49 51 53 55 57 Salaries - Instruc. Asst. - - 8,218 - 49,532 51,513 53,574 55,717 57,945 Salaries - IA OT - - 5,074 - - - - - - Personnel Services - Employee Benefits - - - 733,737 - - - - - Group Insurance 217,322 200,320 257,823 - 385,155 423,671 466,038 512,641 563,905 Social Security Contributions 91,302 82,714 100,470 - 186,292 193,744 201,493 209,553 217,935 Retirement Contributions 77,033 79,033 82,183 - 234,803 317,870 912,969 1,042,669 1,134,501 Tuition Reimbursements - - 9,260 - - - - - - Unemployment Compensation 1,432 767 1,225 - - - - - - Workmen's Compensation 12,201 10,577 16,326 - 16,836 17,509 18,210 18,938 19,696 Purchased Professional & Technical Services 104,467 185,863 196,036 55,042 191,671 195,888 200,197 204,602 209,103 Purchased Property Services 7,324 2,040 2,311 1,575 300 307 313 320 327 Other Purchased Services - - - 14,600 - - - - - Communications - - 221 - - - - - - Printing & Binding - - 1,165 - 200 204 209 213 218 Travel 13,842 23,833 9,721 - 22,600 23,097 23,605 24,125 24,655 Supplies - - - 162,036 - - - - - General Supplies 97,498 85,360 48,695 - 206,624 211,170 215,815 220,563 225,416 Books & Periodicals 28,341 65,373 163,012 - 92,160 94,188 96,260 98,377 100,542 Property - - - 3,915 - - - - - Equipment - Original & Additional - 3,890 16,373 - 1,400 1,431 1,462 1,494 1,527 Equipment - Replacement 964 - 3,068 - - - - - - Other Objects 1,210 943 13,583 2,465 4,590 4,691 4,794 4,900 5,007

Total Instructional Staff Services 2,011,282$ 1,895,173$ 2,663,309$ 3,386,929$ 3,625,660$ 3,858,118$ 4,610,690$ 4,906,494$ 5,173,655$

ADMINISTRATIVE SERVICESAdministrative ServicesPersonnel Services - Salaries 3,094,095 3,243,341 - - - - - - - Salaries - Admin - - 88,199 181,660 - - - - - Salaries - Admin. - - 2,254,772 1,871,361 2,091,404 2,175,060 2,262,063 2,352,545 2,446,647 Salaries - Clerical - - 834,410 766,425 917,312 954,004 992,165 1,031,851 1,073,125 Salaries - Clerical Subs - - 21,863 - - - - - - Salaries - Clerical OT - - 49,214 - 75,691 78,719 81,867 85,142 88,548 Personnel Services - Employee Benefits - - - 986,502 - - - - - Group Insurance 489,160 550,565 535,196 - 811,137 892,251 981,476 1,079,623 1,187,586 Social Security Contributions 220,197 227,359 182,225 - 197,651 205,557 213,779 222,330 231,224 Retirement Contributions 185,781 217,528 154,483 - 254,727 344,842 990,438 1,131,144 1,230,768 Tuition Reimbursements - 3,775 10,725 - - - - - - Unemployment Compensation 3,455 2,112 1,768 - - - - - - Workmen's Compensation 29,379 29,116 30,529 - 19,502 20,282 21,093 21,937 22,815 Purchased Professional & Technical Services 541,554 469,474 535,138 537,411 600,901 614,121 627,631 641,439 655,551 Purchased Property Services - 402 6,785 75,495 94,045 96,114 98,228 100,390 102,598 Other Purchased Services - - - 110,332 - - - - - Insurance-General 7,429 7,599 33,351 - - - - - - Communications 362,678 242,522 52,294 - 3,400 3,475 3,551 3,629 3,709 Advertising 7,814 4,346 2,239 - - - - - - Printing & Binding 7,280 8,141 33,902 - 39,000 39,858 40,735 41,631 42,547 Travel 6,381 5,978 1,729 - 99,085 101,265 103,493 105,770 108,096

Supplies - - - 51,599 - - - - - General Supplies 18,586 33,571 25,048 - 47,319 48,360 49,424 50,511 51,623 Books & Periodicals 5,100 2,467 1,800 - 5,150 5,263 5,379 5,497 5,618 Property - - - 11,000 - - - - - Equipment - Original & Additional - 1,369 3,705 - 5,500 5,621 5,745 5,871 6,000 Equipment - Replacement - 2,992 5,175 - 77,755 79,466 81,214 83,001 84,827 Other Objects 21,211 2,546 21,017 18,850 33,835 34,579 35,340 36,118 36,912

Total Administrative Services 5,000,100$ 5,055,204$ 4,885,567$ 4,610,635$ 5,373,414$ 5,698,837$ 6,593,622$ 6,998,430$ 7,378,194$

PUPIL HEALTHPupil HealthPersonnel Services - Salaries 534,051 584,681 - - - - - - - Salaries - Prof. - - 4,250 - - - - - - Salaries - Prof. OT - - - - 1,100 1,144 1,190 1,237 1,287 Salaries - Coaches - - 505,041 510,069 295,749 307,579 319,882 332,677 345,984 Salaries - OT - - 6,709 48,858 - - - - - Salaries - Instruc. Asst. - - 66,256 - 73,190 76,118 79,162 82,329 85,622 Salaries - IA OT - - 376 - - - - - - Personnel Services - Employee Benefits - - - 203,282 - - - - - Group Insurance 96,792 85,926 127,591 - 186,057 204,663 225,129 247,642 272,406 Social Security Contributions 43,571 35,484 47,254 - 27,587 28,690 29,838 31,032 32,273 Retirement Contributions 36,761 33,950 27,711 - 31,083 42,079 120,858 138,028 150,184 Tuition Reimbursements - - - - - - - - - Unemployment Compensation 683 329 317 - - - - - - Workmen's Compensation 5,820 4,544 5,477 - 2,373 2,468 2,567 2,669 2,776 Purchased Professional & Technical Services 22,931 94,846 87,278 18,500 19,175 19,597 20,028 20,469 20,919 Purchased Property Services - 35 1,265 10,040 3,100 3,168 3,238 3,309 3,382 Other Purchased Services - - - 800 - - - - - Travel 334 733 345 - 850 869 888 907 927 Supplies - - - 19,658 - - - - - General Supplies 16,092 13,438 14,542 - 17,650 18,038 18,435 18,841 19,255 Books & Periodicals 119 207 146 - 400 409 418 427 436 Equipment - Original & Additional - - 300 - - - - - - Equipment - Replacement 756 - 146 - - - - - - Other Objects 115 250 375 300 300 307 313 320 327

Total Pupil Health 758,025$ 854,423$ 895,379$ 811,507$ 658,614$ 705,128$ 821,946$ 879,887$ 935,780$

BUSINESS SERVICESBusiness ServicesPersonnel Services - Salaries 536,841 549,760 - - - - - - - Salaries - Admin. - - 202,780 219,476 230,510 239,730 249,320 259,292 269,664 Salaries - Clerical - - 294,409 232,758 275,558 286,580 298,044 309,965 322,364 Salaries - Clerical OT - - 7,606 - 7,834 8,147 8,473 8,812 9,165 Salaries - Printing - - 3,120 8,000 8,000 8,320 8,653 8,999 9,359 Salaries - Facilities - - 44,031 42,888 79,585 82,768 86,079 89,522 93,103 Salaries - Facilities Sub - - 136 - - - - - - Salaries - Facilities OT - - 345 - 370 385 400 416 433 Salaries - Custodian Summer - - 420 - - - - - - Personnel Services - Employee Benefits - - - 202,573 - - - - - Group Insurance 89,194 93,835 89,119 - 277,717 305,489 336,038 369,641 406,605 Social Security Contributions 40,151 38,750 35,326 - 42,431 44,128 45,893 47,729 49,638 Retirement Contributions 33,875 37,075 25,907 - 49,867 67,509 193,895 221,440 240,943 Tuition Reimbursements - - - - - - - - - Unemployment Compensation 630 359 301 - - - - - - Workmen's Compensation 5,356 4,963 5,204 - 3,766 3,917 4,073 4,236 4,406 Purchased Professional & Technical Services 15,380 44,121 9,639 - - - - - - Purchased Property Services 254,339 225,814 212,974 223,638 147,303 150,544 153,856 157,240 160,700 Other Purchased Services - - - 110,000 - - - - - Insurance-General 1,181 - - - - - - - - Communications - - 25,487 - - - - - - Advertising 5,039 5,805 10,265 - 5,000 5,110 5,222 5,337 5,455 Travel 6 390 501 - 33,750 34,493 35,251 36,027 36,819 Miscellaneous Purchased Services - - - - - - - - - Supplies - - - 12,015 - - - - - General Supplies 70,036 81,914 23,866 - 34,875 35,642 36,426 37,228 38,047 Books & Periodicals 529 791 556 - 1,000 1,022 1,044 1,067 1,091 Equipment - Original & Additional 844 1,496 - - 7,000 7,154 7,311 7,472 7,637 Equipment - Replacement - 7,538 6,827 - 1,000 1,022 1,044 1,067 1,091 Other Objects 399 3,655 25,473 6,000 26,300 26,879 27,470 28,074 28,692

Total Business Services 1,053,799$ 1,096,266$ 1,024,293$ 1,057,348$ 1,231,866$ 1,308,838$ 1,498,493$ 1,593,568$ 1,685,211$

OPERATION AND MAINTENANCE OF PLANT SERVICESOperation and Maintenance of Plant ServicesPersonnel Services - Salaries 3,319,304 3,253,998 - - - - - - - Salaries - Admin. - - 297,700 260,486 274,415 285,392 296,807 308,680 321,027 Salaries - Prof. OT - - 628 - - - - - - Cash in Lieu of Medical - - 108 - - - - - - Salaries - Clerical - - 49,256 85,611 86,895 90,371 93,986 97,745 101,655 Salaries - Clerical OT - - 3,753 - 3,866 4,021 4,181 4,349 4,523 Salaries - Facilities - - 1,076,614 1,015,171 1,256,950 1,307,228 1,359,517 1,413,898 1,470,454 Salaries - Facilities Sub - - 5,337 - 8,000 8,320 8,653 8,999 9,359 Salaries - Facilities OT - - 174,003 175,000 186,397 193,853 201,607 209,671 218,058 Salaries - Custodian - - - - 1,594,958 1,658,756 1,725,107 1,794,111 1,865,875 Salaries - Custodian Sub - - 159,762 - 170,000 176,800 183,872 191,227 198,876 Salaries - Custodian OT - - 272,577 300,000 275,000 286,000 297,440 309,338 321,711 Salaries - Custodian Summer - - 8,253 40,025 - - - - - Personnel Services - Employee Benefits - - - 1,144,122 - - - - - Group Insurance 532,186 563,275 452,754 - 1,557,291 1,713,020 1,884,322 2,072,754 2,280,030 Social Security Contributions 239,565 227,559 264,133 - 243,806 253,558 263,701 274,249 285,219 Retirement Contributions 202,121 222,550 164,168 - 269,910 365,396 1,049,473 1,198,566 1,304,128 Tuition Reimbursements - - - - - - - - - Unemployment Compensation 3,759 2,161 1,948 - - - - - - Workmen's Compensation 31,966 29,789 35,238 - 20,664 21,491 22,350 23,244 24,174 Health Benefits - - - - - - - - - Other Employee Benefits - - - - - - - - - Purchased Professional & Technical Services 272,888 180,051 76,081 30,000 55,800 57,028 58,282 59,564 60,875 Purchased Property Services 2,085,530 1,938,040 1,687,117 1,885,254 2,064,582 2,110,003 2,156,423 2,203,864 2,252,349 Other Purchased Services - - - 309,139 - - - - - Automotive Liability Insurance 32,141 28,843 24,638 - 36,000 36,792 37,601 38,429 39,274 General Property and Liability Insurance 150,295 176,289 120,769 - - - - - - Other Insurance 32,385 30,638 - - - - - - -

Communications - - 136,790 - 308,000 314,776 321,701 328,778 336,012 Travel (1,990) 667 871 - - - - - - Miscellaneous Purchased Services - 1,965 224 - - - - - - Supplies - - - 1,965,950 - - - - - General Supplies 348,519 356,281 453,511 - 1,284,984 1,313,254 1,342,145 1,371,672 1,401,849 Energy 501,309 652,047 906,180 - 810,730 828,566 846,795 865,424 884,463 Food - - - - - - - - - Books & Periodicals - 61 616 - - - - - - Property - - - 226,500 - - - - - Equipment - Original & Additional 9,868 78,634 150,569 - 28,500 29,127 29,768 30,423 31,092 Equipment - Replacement 3,775 6,530 56,869 - 82,700 84,519 86,379 88,279 90,221 Other Objects 57,928 11,770 3,382 13,000 3,000 3,066 3,133 3,202 3,273

Total Operation and Maintenance of Plant Services 7,821,548$ 7,761,148$ 6,583,850$ 7,450,258$ 10,622,448$ 11,141,336$ 12,273,243$ 12,896,466$ 13,504,496$

STUDENT TRANSPORTATION SERVICESStudent Transportation ServicesPurchased Professional & Technical Services - - 3,837 - - - - - - Purchased Property Services - - 101 - - - - - - Other Purchased Services - - - 7,372,868 - - - - - St. Tr Svc-Contr Carrier 6,844,235 7,098,781 6,838,773 - - - - - - St Trans - Public Carriers - 49,759 38,117 - 8,111,421 8,289,872 8,472,249 8,658,639 8,849,129 St Tr Svc from the IU 118,647 240,560 158,266 - - - - - - Miscellaneous Purchased Services - 44,148 82,614 - - - - - - Supplies - - - 201,000 - - - - - General Supplies 563 8,026 7,787 - - - - - -

Total Student Transportation Services 6,963,444$ 7,441,274$ 7,129,494$ 7,573,868$ 8,111,421$ 8,289,872$ 8,472,249$ 8,658,639$ 8,849,129$

CENTRAL & OTHER SUPPORT SERVICESCentral & Other Support ServicesPersonnel Services - Salaries 307,232 405,857 - - - - - - - Salaries - Admin. - - 265,376 392,214 421,953 438,831 456,384 474,640 493,625 Cash in Lieu of Medical - - 450 - - - - - - Salaries - Tech OT - - 1,831 - - - - - - Salaries - Tech Para Prof - - - - 237,478 246,977 256,856 267,130 277,816 Salaries - Clerical - - 118,314 128,139 115,061 119,663 124,450 129,428 134,605 Salaries - Facilities OT - - 151 - 161 167 174 181 188 Salaries - Instruc. Asst. - - - 27,731 - - - - - Personnel Services - Employee Benefits - - - 296,387 - - - - - Group Insurance 54,145 52,005 89,661 - 252,608 277,869 305,656 336,221 369,843 Social Security Contributions 24,373 21,475 38,514 - 57,067 59,350 61,724 64,193 66,760 Retirement Contributions 20,564 20,547 28,098 - 66,317 89,778 257,856 294,488 320,425 Tuition Reimbursements 17,132 27,302 14,714 - 5,000 5,150 5,305 5,464 5,628 Unemployment Compensation 383 199 325 - - - - - - Workmen's Compensation 3,248 2,750 5,618 - 5,077 5,280 5,491 5,711 5,939 Health Benefits - - - - - - - - - Other Employee Benefits - - - - - - - - - Purchased Professional & Technical Services 88,081 149,019 211,436 129,516 158,750 162,243 165,812 169,460 173,188 Purchased Property Services 72,365 65,234 39,645 66,000 66,000 67,452 68,936 70,453 72,002 Other Purchased Services - - - 177,036 - - - - - Communications 61,846 55,078 193,078 - 207,709 212,279 216,949 221,722 226,599 Advertising 25,722 54,157 48,206 - 63,000 64,386 65,802 67,250 68,730 Printing & Binding 1,273 - 518 - 2,500 2,555 2,611 2,669 2,727 Tuition - - - - - - - - - Travel 7,640 6,593 13,016 - 33,100 33,828 34,572 35,333 36,110 Miscellaneous Purchased Services 106 - - - - - - - - Supplies - - - 248,071 - - - - - General Supplies 104,189 102,996 280,751 - 116,490 119,053 121,672 124,349 127,084 Books & Periodicals - - 1,102 - 2,150 2,197 2,246 2,295 2,346 Property - - - 200,735 - - - - - Equipment - Original & Additional - 2,282 252 - 1,200 1,226 1,253 1,281 1,309 Equipment - Replacement - 3,361 180 - 500,500 511,511 522,764 534,265 546,019 Other Objects 3,042 18,991 21,407 1,300 1,450 1,482 1,515 1,548 1,582

Total Central & Other Support Services 791,340$ 987,846$ 1,372,642$ 1,667,129$ 2,313,571$ 2,421,277$ 2,678,028$ 2,808,079$ 2,932,527$

OTHER SUPPORT SERVICESOther Support ServicesPurchased Professional & Technical Services 500 - - - - - - - - Other Purchased Services - - - 65,000 - - - - - Miscellaneous Purchased Services 69,726 66,786 47,645 - - - - - - Equipment - Replacement 2,000 - - - - - - - - Other Objects - - - - - - - - -

Total Other Support Services 72,226$ 66,786$ 47,645$ 65,000$ -$ -$ -$ -$ -$

STUDENT ACTIVITIESStudent ActivitiesPersonnel Services - Salaries 730,118 740,282 - - - - - - - Salaries - Admin. - - 119,639 118,850 128,642 133,788 139,139 144,705 150,493 Salaries - Prof. OT - - 719,183 652,433 698,192 726,120 755,164 785,371 816,786 Salaries - Coaches - - 1,680 - - - - - - Personnel Services - Employee Benefits - - - 61,771 - - - - - Group Insurance 118,193 123,047 22,831 - 38,373 42,210 46,431 51,074 56,182 Social Security Contributions 53,205 50,812 38,368 - 64,630 67,215 69,904 72,700 75,608 Retirement Contributions 44,889 48,616 33,457 - 62,633 84,791 243,532 278,129 302,625 Tuition Reimbursements - 613 - - - - - - - Unemployment Compensation 835 472 594 - - - - - - Workmen's Compensation 7,078 6,508 7,901 - 5,079 5,282 5,493 5,713 5,942 Purchased Professional & Technical Services 24,200 27,256 7,633 16,050 41,038 41,941 42,864 43,807 44,770 Purchased Property Services 23,375 34,977 9,823 5,000 5,000 5,110 5,222 5,337 5,455 Other Purchased Services - - - 67,821 - - - - - Student Transportation Services - 76,234 23,739 - - - - - - Insurance-General 6,268 - 6,740 - 20,937 21,398 21,868 22,349 22,841 Communications - - 17 - - - - - - Printing & Binding 19,571 19,263 11,402 - - - - - - Travel 13,553 11,452 1,055 - - - - - - Miscellaneous Purchased Services 49,585 58,012 2,917 - 40,579 41,472 42,384 43,317 44,270 Supplies - - - 54,450 - - - - - General Supplies 77,519 125,894 52,165 - 57,250 58,510 59,797 61,112 62,457 Energy - 61 109 - - - - - - Food - 190 - - - - - - - Books & Periodicals 1,569 868 556 - - - - - - Property - - - 12,650 - - - - - Equipment - Original & Additional 7,700 - 4,975 - - - - - - Equipment - Replacement 3,274 4,552 61,654 - - - - - - Other Objects 29,945 25,215 15,531 7,100 12,300 12,571 12,847 13,130 13,419

Total Student Activities 1,210,876$ 1,354,322$ 1,141,969$ 996,125$ 1,174,653$ 1,240,406$ 1,444,646$ 1,526,744$ 1,600,846$

COMMUNITY SERVICESCommunity ServicesPersonnel Services - Salaries 471,331 498,062 - - - - - - - Salaries - Admin. - - 92,670 109,339 59,784 62,175 64,662 67,249 69,939 Salaries - Instruc. Asst. - - 429,646 380,054 433,036 450,357 468,372 487,107 506,591 Personnel Services - Employee Benefits - - - 154,378 - - - - - Group Insurance 73,323 78,930 52,292 - 77,066 84,773 93,250 102,575 112,832 Social Security Contributions 33,006 32,596 38,307 - 37,701 39,209 40,777 42,408 44,105 Retirement Contributions 27,847 31,179 21,035 - 41,397 56,042 160,961 183,828 200,019 Tuition Reimbursements - 3,300 2,475 - - - - - - Unemployment Compensation 518 303 557 - - - - - - Workmen's Compensation 4,439 4,170 4,910 - 3,169 3,296 3,428 3,565 3,707 Purchased Professional & Technical Services 93,399 9,001 12,017 32,000 18,228 18,629 19,039 19,458 19,886 Purchased Property Services - 283 228 - - - - - - Other Purchased Services - - - 4,348 - - - - - Communications - - 1,047 - - - - - - Travel - 3,326 3,586 - 4,250 4,344 4,439 4,537 4,637 Miscellaneous Purchased Services - - - - - - - - - Supplies - - - 68,000 - - - - - General Supplies 68,224 65,310 58,177 - 68,000 69,496 71,025 72,587 74,184 Property - - - 3,000 - - - - - Equipment - Original & Additional - - 18,226 - 3,000 3,066 3,133 3,202 3,273 Equipment - Replacement - - 1,685 - - - - - - Other Objects - 1,945 5,124 2,000 - - - - -

Total Community Services 772,088$ 728,407$ 741,982$ 753,119$ 745,631$ 791,387$ 929,086$ 986,516$ 1,039,172$

DEBT SERVICE Debt ServiceOther Objects - - - - - - - - - Interest - 1,664,569 2,156,409 2,439,170 2,348,228 2,360,026 2,216,426 2,063,968 1,933,388 Refund of Prior Year's Receipts 183 4,345 979 - - - - - - Other Financing Uses - - - - - - - - - Redemption of Principal - 2,845,000 2,965,000 3,125,000 2,505,000 3,435,000 3,580,000 3,730,000 3,860,000

Total Debt Service 183$ 4,513,914$ 5,122,388$ 5,564,170$ 4,853,228$ 5,795,026$ 5,796,426$ 5,793,968$ 5,793,388$

FUND TRANSFERSFund TransfersFund Transfers 3,937,688 3,450,000 312,627 318,281 759,535 776,245 793,322 810,775 828,612

Total Fund Transfers 3,937,688$ 3,450,000$ 312,627$ 318,281$ 759,535$ 776,245$ 793,322$ 810,775$ 828,612$

BUDGETARY RESERVEBudgetary ReserveOther Objects - - - 1,195,582 800,000 817,600 835,587 853,970 872,757

Total Budgetary Reserve -$ -$ -$ 1,195,582$ 800,000$ 817,600$ 835,587$ 853,970$ 872,757$

TOTAL EXPENDITURES 79,166,259$ 85,997,103$ 87,332,294$ 92,951,039$ 100,549,764$ 106,830,206$ 121,575,887$ 128,188,597$ 134,366,890$

INFORMATIONAL SECTION

CAPITAL PROJECTS FOR 2010-2011 At the time of publication the capital projects for 2010-2011 were still under review by the Director of Support Services.

DEBT SERVICE SCHEDULE Other General Series A Series B Obligation of 2010 of 2010 Total Year Debt Principal Interest Subtotal Principal Interest Subtotal Requirements 2009-10 $5,416,992 $5,416,992 2010-11 $3,433,997 $385,000 $209,843 $594,843 $645,000 $134,864 $779,864 4,808,704 2011-12 $4,257,241 300,000 254,085 554,085 680,000 157,660 837,660 5,648,986 2012-13 $4,254,882 455,000 244,760 699,760 700,000 140,360 840,360 5,795,002 2013-14 $4,280,851 465,000 233,785 698,785 695,000 119,435 814,435 5,794,071 2014-15 $4,355,013 475,000 223,791 698,791 640,000 96,210 736,210 5,790,014 2015-16 $4,347,542 485,000 212,385 697,385 665,000 70,110 735,110 5,780,037 2016-17 $4,302,928 500,000 198,823 698,823 740,000 47,005 787,005 5,788,755 2017-18 $3,869,478 510,000 183,673 693,673 1,240,000 18,600 1,258,600 5,821,751 2018-19 $4,546,241 530,000 167,808 697,808 0 0 0 5,244,048 2019-20 $2,400,387 550,000 150,105 700,105 0 0 0 3,100,492 2020-21 $2,403,374 570,000 130,500 700,500 0 0 0 3,103,874 2021-22 $2,412,049 585,000 109,706 694,706 0 0 0 3,106,755 2022-23 $2,413,203 610,000 87,898 697,898 0 0 0 3,111,100 2023-24 $2,416,927 630,000 64,953 694,953 0 0 0 3,111,879 2024-05 $2,422,582 660,000 40,270 700,270 0 0 0 3,122,852 2025-26 $2,425,232 685,000 13,700 698,700 0 0 0 3,123,932 2026-27 $2,714,357 0 0 0 0 0 0 2,714,357 2027-28 $2,452,995 0 0 0 0 0 0 2,452,995 2028-29 $2,448,993 0 0 0 0 0 0 2,448,993 2029-30 $2,450,903 0 0 0 0 0 0 2,450,903 2030-31 $2,447,465 0 0 0 0 0 0 2,447,465 2031-32 $2,444,288 0 0 0 0 0 0 2,444,288 2032-33 $2,440,650 0 0 0 0 0 0 2,440,650 2033-34 $2,431,600 0 0 0 0 0 0 2,431,600 2034-35 $2,438,363 0 0 0 0 0 0 2,438,363

Total $82,228,527 $8,395,000 $2,526,083 $10,921,083 $6,005,000 $784,244 $6,789,244 $99,938,854

DEBT LIMIT AND TOTAL AVAILABLE DEBT Local Effort or Net of Available Funds Gross and Estimated Outstanding State Aid(1) DIRECT DEBT Nonelectoral Debt ................................................................................................................. $100,135,000 $92,987,653 Lease Rental Debt ................................................................................................................. 0 0 TOTAL DIRECT DEBT ...................................................................................................... $100,135,000 $92,987,653 OVERLAPPING DEBT Montgomery County, General Obligation(2).............................................................................................................. $12,737,395 $12,737,395 Cheltenham Township .......................................................................................................... 36,250,000 36,250,000 TOTAL OVERLAPPING DEBT......................................................................................... $48,987,395 $48,987,395 TOTAL DIRECT AND OVERLAPPING DEBT ............................................................... $149,122,395 $141,975,048

DEBT RATIOS Per Capita 2000..................................................................................................................... $4,044.00 $3,850.17 Percent 2008-09 Assessed Value.......................................................................................... 7.81% 7.44% Percent 2008-09 Market Value ............................................................................................. 3.97% 3.78% Debt retired within 10 years.................................................................................................. 51% --------

*Includes the principal amount of the Bonds. (1)Gives effect to current appropriations for payment of debt service, and expected future State reimbursement of School District sinking fund

payments based on current Aid Ratio. (2)Pro rata 3.3 percent share of $389,082,075 principal outstanding. The statutory borrowing limit of the School District under the Act is computed as a percentage of the School District's "Borrowing Base". The "Borrowing Base" is defined as the annual arithmetic average of "Total Revenues" (as defined by the Act), for the three full fiscal years ended next preceding the date of incurring debt. The School District calculates its present borrowing base and borrowing capacity as follows: Total Revenues for 2006-07 $ 79,526,191 Total Revenues for 2007-08 $ 87,489,455 Total Revenues for 2008-09 $ 89,706,816 Total Revenues, Past Three Years $256,722,462 Annual Arithmetic Average (Borrowing Base) $85,574,154 Under the Debt Act as presently in effect, no school district shall incur any nonelectoral debt or lease rental debt, if the aggregate net principal amount of such new debt together with any other net nonelectoral debt and lease rental debt then outstanding, would cause the net nonelectoral debt plus net lease rental debt to exceed 225% of the Borrowing Base. The application of the aforesaid percentage to the School District's Borrowing Base produces the following product: Remaining Legal Gross Debt Borrowing Limit Outstanding* Capacity Net Nonelectoral Debt and Lease Rental Debt Limit: 225% of Borrowing Base $192,541,847 $100,135,000 $92,406,847 SCHOOL DISTRICT OF CHELTENHAM TOWNSHIP TAX RATES

Real Estate Mercantile Real Estate Wage and Millage Taxes Transfer(1) Income(1) Year (mills) ($) (%) (%) 2005-06 30.550 0.0015 1.00 1.00 2006-07 32.651 0.0015 1.00 1.00 2007-08 35.422 0.0015 1.00 1.00 2008-09 37.250 0.0015 1.00 1.00 2009-10 39.240 0.0015 1.00 1.00 (1)

Subject to sharing with the Township at the rate of 50% providing it levies the tax. Source: School District Officials.

SCHOOL DISTRICT OF CHELTENHAM TOWNSHIP COMPARATIVE REAL PROPERTY TAX RATES

(Mills on Assessed Value)

2005 2006 2007 2008 2009 2010 School District ................................. 28.384 30.5500 32.6510 35.4220 37.250 39.240 Cheltenham Township ..................... 6.0927 6.0927 2.4086 2.4407 1.8300 7.1413 Montgomery County........................ 2.8900 2.8900 2.8400 2.6950 2.6950 2.6950 Source: Local Government Officials.

REAL PROPERTY TAX

The real property tax (excluding delinquent collections) is $64,845,738 in 2008-09, approximately 72.0% of total revenue. The tax is levied on July 1 of each year. Taxes paid prior to September 3 receive a 2 percent discount, and those who remit after November 1 are assessed a 10 percent penalty. Beginning with the 2007-08 fiscal year, eligible taxpayers could opt into the installment method of payment for their school taxes. Installment payments are based upon three (3) one-third payments of the base tax amount.

The following tables summarize trends of assessed and market valuations of real property and real property tax collection data.

Common Market Assessed Level Year Value* Value Ratio 2003-04 .............................................. $2,815,636,619 $1,934,342,357 68.70% 2004-05 .............................................. $3,206,600,730 $1,936,786,841 60.40% 2005-06 .............................................. $3,559,120,901 $1,900,570,561 53.40% 2006-07 .............................................. $3,733,042,607 $1,892,652,602 50.70% 2007-08 .............................................. $3,758,622,006 $1,905,621,357 50.70% 2008-09 .............................................. $3,765,578,988 $1,909,148,547 50.70% Compound Average Annual % Change 5.99% -0.26% Source: Pennsylvania State Tax Equalization Board 2003. *Market value based on common level ratio

.

2007 2007 2008 2008 Market Assessed Market Assessed Value Value Value Value School District ............................. $2,217,534,200 $1,905,621,357 $2,523,774,900 $1,909,148,547 Montgomery County.................... 69,068,163,100 56,313,087,560 77,092,339,200 56,858,187,025 Source: Pennsylvania State Tax Equalization Board.

2004 2005 2006 2007 2008 Residential $1,484,081,552 $1,483,455,272 $1,489,993,682 $1,495,558,072 $1,353,360,452 Lots 4,011,720 4,663,460 3,488,100 3,557,580 3,580,330 Industrial 15,193,260 15,056,950 15,056,950 14,105,370 13,600,180 Commercial 425,914,119 390,780,879 377,551,360 384,865,635 528,427,375 Agriculture 7,555,260 6,583,070 6,531,580 7,503,770 6,531,580 Land 30,930 30,930 30,930 30,930 3,648,630 Total $1,936,786,841 $1,900,570,561 $1,892,652,602 $1,905,621,357 $1,909,148,547

Source: Pennsylvania State Tax Equalization Board.

Tax Amount Percent of Percent of Assessed Rate of Amount Current Delinquent Overall Overall Year Value (Mills) Levy Collected Collections Taxes Collections Collections 2004-05.. $1,937,454,391 28.380 $54,984,956 $51,808,521 94.20% $1,513,691 53,322,212 97.00% 2005-06.. 1,901,295,091 30.550 58,084,565 54,357,111 93.60% 1,587,114 55,944,225 96.30% 2006-07.. 1,900,484,277 32.651 62,052,712 58,618,766 94.47% 1,574,797 60,193,563 97.00% 2007-08 1,907,767,917 35.422 67,576,955 64,402,981 95.30% 1,729,860 66,132,841 97.86%

2008-09 1,907,626,447 37.250 71,059,085 67,981,827 95.67% 1,882,562 69,864,389

98.32% 2009-10 1,906,795,717 39.24 74,822,663 71,661,140 95.77 1,789,548 73,450,696 98.17

LARGEST TAXPAYERS IN THE DISTRICT The largest real estate taxpayers in the School District and 2010 assessed valuation of their real estate are as follows: Assessed 2010 Assessed Owner Property Value Value Cedarbrook Hill Apartments Housing $63,398,080 63,398,080 Lynnewood Garden Apartments Housing 47,890,000 47,890,000 Cheltenham Square Shopping Mall (Thor Equities)(1) Retail 37,732,750 44,524,180 Cedarbrook Shopping Center(2) Retail 23,624,800 23,624,800 Brookview Terrace Apartments Housing 14,800,795 14,800,795 Wyncote House Apartments (Mid-Island Properties, Inc.) Housing 12,675,000 12,675,000 Pitcairn Group LP Office Building 9,316,300 8,127,000 Oak Summit Apartments Housing 8,200,000 8,200,000 Coventry House Apartments Housing 6,750,000 6,750,000 Lakeside Apartments Housing 4,853,440 4,853,440 Total $229,241,165 234,843,295 Impact of Taxes on a Tax Payer The median assessed value of a home in Cheltenham Township for 2010 is $146,365. The following table shows the impact over the past five years of the total school real estate tax bill at face value on the property.

Pupil Enrollment - History and Projection

Grade 2005-06 2006-07 2007-08 2008-09 2009-10 2010-11 K-4 1,532 1,490 1,428 1,564 1,553 1,623 5-6 708 680 680 619 684 682 7-8 769 729 674 627 709 686 9-12 1,736 1,681 1,583 1,454 1,472 1,466

Total 4,745 4,580 4,365 4,264 4,418 4,457

Grade 2011-12 2012-13 2013-14 2014-15 2015-16 2016-17 K-4 1,673 1,701 1,665 1,649 1,600 1,596 5-6 636 636 702 736 760 753 7-8 672 671 625 625 688 723 9-12 1,456 1,417 1,398 1,371 1,310 1,308

Total 4,437 4,425 4,390 4,381 4,358 4,380 Enrollment projections were developed by Delong Healy primarily utilizing the cohort survival methodology. The number presented assumes moderately likely trends. Budget forecast The School District of Cheltenham Township presents forecasted data in the financial sections. This data is based upon trends and other economic assumptions relative to tax base, the economy of Pennsylvania and expenditure assumptions such as negotiated agreements. A summary of the growth assumptions for each financial function is included in the following pages. Insert Pages with the Forecast.

School District of Cheltenham Township, Five-Year Projections ModelRevenue Growth Rates for the General Fund

HISTORICAL DATA PROJECTED DATA2008 2009 2010 2011 2012 2013 2014 2015act_08 act_09 var_01 proj_01 proj_02 proj_03 proj_04 proj_05

REVENUES Actual Actual Budget Projected Projected Projected Projected Projected

Local SourcesReal Estate TaxesCurrent Real Estate Taxes 9.87% 0.69% 3.72% 7.87% 9.44% 4.52% 4.52% 4.52%Interim Real Estate Taxes -7.55% -71.32% 737.83% -76.00% 2.20% 2.20% 2.20% 2.20%Public Utility Realty Taxes -4.30% -3.62% 4.24% 22.22% 2.20% 2.20% 2.20% 2.20%

Total Real Estate Taxes 9.78% 0.45% 4.40% 7.27% 9.42% 4.51% 4.51% 4.51%

Act 511 TaxesEmergency and Municipal Services Tax -59.39% 52.23% -4.09% 14.58% 2.20% 2.20% 2.20% 2.20%Earned Income Taxes -10.45% 3.07% 0.75% 24.91% 2.20% 2.20% 2.20% 2.20%Real Estate Transfer Taxes 111.18% -70.19% 147.39% -42.31% 2.20% 2.20% 2.20% 2.20%Mercantile Taxes 8.78% -8.87% 5.86% -1.04% 2.20% 2.20% 2.20% 2.20%

Total 511 Taxes 14.22% -24.24% 22.20% 3.08% 2.20% 2.20% 2.20% 2.20%

Other Local RevenueDelinquent on Taxes Levied/Assessed by the LEA 9.85% 8.83% -20.32% 20.00% 2.20% 2.20% 2.20% 2.20%Earnings on Investments -3.23% -45.09% 35.40% -65.75% 2.20% 2.20% 2.20% 2.20%Revenue From Student Activities n.a. 192.75% -81.54% 507.31% 2.20% 2.20% 2.20% 2.20%Rev from Intermediary Srcs/Pass-Thru Funds from Other Schls n.a. n.a. n.a. -100.00% n.a. n.a. n.a. n.a.State Revenue Received from Other Public Schools n.a. n.a. -100.00% n.a. n.a. n.a. n.a. n.a.State Revenue Received from Other Intermediary Schools n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a.Federal Revenue Received from Other Public Schools n.a. -96.63% -100.00% n.a. n.a. n.a. n.a. n.a.Federal IDEA received from an IU n.a. -0.94% -100.00% n.a. 2.20% 2.20% 2.20% 2.20%Rentals 1090.96% -49.52% -59.92% 150.00% 2.20% 2.20% 2.20% 2.20%Contributions and Donations from Private Sources n.a. 4680.15% -100.00% n.a. n.a. n.a. n.a. n.a.Tuition from Patrons n.a. n.a. n.a. -100.00% n.a. n.a. n.a. n.a.Regular Day School Tuition 58.35% -75.54% -100.00% n.a. n.a. n.a. n.a. n.a.Summer School Tuition 10.08% -46.05% -100.00% n.a. 2.20% 2.20% 2.20% 2.20%Receipts from Other LEAS in PA - Education n.a. n.a. -100.00% n.a. n.a. n.a. n.a. n.a.Other Tuition From Patrons n.a. 726.55% -100.00% n.a. 2.20% 2.20% 2.20% 2.20%Revenue From Community Service Activities 7.70% 5.01% 11.77% 4.67% 2.20% 2.20% 2.20% 2.20%Refunds of Prior Years' Expenditures n.a. -85.34% -100.00% n.a. 2.20% 2.20% 2.20% 2.20%All Other Local Revenues -48.41% 1498.42% -100.00% n.a. 2.20% 2.20% 2.20% 2.20%Refunds and Other Misc. Revenue n.a. n.a. n.a. -97.16% 2.20% 2.20% 2.20% 2.20%

Total Other Local Revenue 45.12% 0.52% 13.25% -14.16% 2.20% 2.20% 2.20% 2.20%

TOTAL LOCAL REVENUE 12.00% -1.14% 5.92% 5.37% 8.56% 4.25% 4.26% 4.26%

State Sources

Basic Instructional and Operating SubsidiesBasic Instructional Subsidy (In Gross) 2.00% 3.00% -0.97% 3.00% 2.20% 2.20% 2.20% 2.20%Charter Schools 20.98% 9.62% -13.17% -24.00% 2.20% 2.20% 2.20% 2.20%Tuition for Orphans & Children Placed in Private Homes -3.96% -9.23% 16.20% -12.01% 2.20% 2.20% 2.20% 2.20%

Total Basic Instructional and Operating Subsidies 1.99% 2.27% -0.21% 1.11% 2.20% 2.20% 2.20% 2.20%

Revenue for Specific Educational ProgramsHomebound Instruction -8.11% -17.01% 8.72% 0.00% 2.20% 2.20% 2.20% 2.20%Alternative Education n.a. n.a. -100.00% n.a. n.a. n.a. n.a. n.a.Driver Education - Student -100.00% n.a. n.a. n.a. n.a. n.a. n.a. n.a.Special Education - Funding for School Aged Pupils 0.56% 6.84% -2.72% -1.13% 2.20% 2.20% 2.20% 2.20%

Total Revenue for Specific Educational Programs 0.34% 8.39% -4.12% -1.13% 2.20% 2.20% 2.20% 2.20%

Other State RevenueTransportation (Regular and Additional) 8.29% 16.01% -18.15% 22.17% 2.20% 2.20% 2.20% 2.20%Rental and Sinking Fund Payments 400.16% -29.22% 31.54% 10.48% -17.50% -0.02% -0.40% -0.72%Health Services -3.36% -4.91% 0.02% 0.00% 2.20% 2.20% 2.20% 2.20%Supplemental Reimbursement of Basic ED Subsidies n.a. n.a. -5.95% 12.78% -100.00% n.a. n.a. n.a.PA Accountability Grant 4.17% -1.30% 1.32% -1.30% 2.20% 2.20% 2.20% 2.20%Dual Enrollment n.a. n.a. 99.99% -100.00% n.a. n.a. n.a. n.a.Project 720 High School Reform n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a.Additional grants not listed elsewhere -7.33% 8.23% 102.00% -0.99% 2.20% 2.20% 2.20% 2.20%Revenue from Social Security Payments 2.84% -10.09% 14.68% 1.18% 4.00% 4.00% 4.00% 4.00%Revenue from Retirement Payments 14.09% -28.73% -9.38% 112.82% 35.38% 187.21% 14.21% 8.81%Classrooms for the Future n.a. 67.19% -100.00% n.a. n.a. n.a. n.a. n.a.

Total Other State Revenue 20.78% 49.25% -3.65% 22.05% -27.91% 76.25% 10.17% 6.80%

TOTAL STATE REVENUE 9.30% 24.47% -2.68% 11.92% -15.30% 38.82% 7.20% 5.17%

Federal SourcesRevenue from Federal SourcesIDEA, Part B -100.00% n.a. n.a. n.a. n.a. n.a. n.a. n.a.IDEA, Section 619 -100.00% n.a. n.a. n.a. n.a. n.a. n.a. n.a.NCLB - Education of Disadvantaged Children 36.31% -12.55% 45.72% -35.49% 2.20% 2.20% 2.20% 2.20%NCLB - Preparing, Training and Recruiting Teachers/Principals n.a. -4.96% -1.96% -6.00% 2.20% 2.20% 2.20% 2.20%NCLB - Language Instruction n.a. -100.00% n.a. n.a. 2.20% 2.20% 2.20% 2.20%NCLB - 21st Century Schools n.a. 29.60% 22.75% -100.00% n.a. n.a. n.a. n.a.NCLB - Promoting Informed Parental Choice and Innovative Programs n.a. -100.00% n.a. -100.00% n.a. n.a. n.a. n.a.Other ESEA & IDEA Programs -102.86% -100.00% n.a. n.a. n.a. n.a. n.a. n.a.Drug Free Schools -75.21% -100.00% n.a. n.a. n.a. n.a. n.a. n.a.Other Restricted Federal Grants-in-Aid Through the Commonwealth n.a. -96.58% -100.00% n.a. n.a. n.a. n.a. n.a.Medical Assistance Reimbursement Through the Commonwealth 865.68% 1082.13% 7.20% -6.72% 2.20% 2.20% 2.20% 2.20%

TOTAL FEDERAL REVENUE -37.34% -10.65% 34.02% -29.72% 2.20% 2.20% 2.20% 2.20%

Other Financing SourcesRevenue from Other Financing SourcesSale or Compensation for Loss of Fixed Assets n.a. n.a. 497.06% -60.00% 2.20% 2.20% 2.20% 2.20%Intrafund Transfers In n.a. n.a. n.a. n.a. 2.20% 2.20% 2.20% 2.20%

TOTAL OTHER FINANCING SOURCES n.a. n.a. 497.06% 9940.00% 2.20% 2.20% 2.20% 2.20%

TOTAL REVENUES 10.62% 2.31% 4.75% 6.48% 4.54% 8.85% 4.74% 4.40%

School District of Cheltenham Township, Five-Year Projections ModelExpenditure Growth Rates for the General Fund

HISTORICAL DATA PROJECTED DATA2008 2009 2010 2011 2012 2013 2014 2015

EXPENDITURES Actual Actual Budget Projected Projected Projected Projected Projected

PERSONNELSalaries and WagesPersonnel Services - Salaries 1.55% -100.00% n.a. n.a. n.a. n.a. n.a. n.a.Salaries - Admin n.a. n.a. 105.97% -100.00% n.a. n.a. n.a. n.a.Salaries - Admin. n.a. n.a. 7.95% 3.66% 4.00% 4.00% 4.00% 4.00%Salaries - Team Leader n.a. n.a. -100.00% n.a. n.a. n.a. n.a. n.a.Salaries - Prof. n.a. n.a. 11.66% -3.78% 4.00% 4.00% 4.00% 4.00%Salaries - Prof. Sub n.a. n.a. 24.51% -2.54% 4.00% 4.00% 4.00% 4.00%Salaries - Prof. OT n.a. n.a. -4.50% 4.24% 4.00% 4.00% 4.00% 4.00%Salaries - Prof. Sabbatical n.a. n.a. -100.00% n.a. 4.00% 4.00% 4.00% 4.00%Salaries - Prof. Severence n.a. n.a. -100.00% n.a. 4.00% 4.00% 4.00% 4.00%Cash in Lieu of Medical n.a. n.a. -100.00% n.a. n.a. n.a. n.a. n.a.Salaries - Prof. Intern n.a. n.a. -95.17% 1146.18% 4.00% 4.00% 4.00% 4.00%Salaries - Coaches n.a. n.a. -51.67% 135.76% 4.00% 4.00% 4.00% 4.00%Salaries - OT n.a. n.a. 118.80% -64.81% 4.00% 4.00% 4.00% 4.00%Salaries - Tech OT n.a. n.a. -100.00% n.a. n.a. n.a. n.a. n.a.Salaries - Tech Para Prof n.a. n.a. n.a. n.a. 4.00% 4.00% 4.00% 4.00%Salaries - Clerical n.a. n.a. 1.64% 3.01% 4.00% 4.00% 4.00% 4.00%Salaries - Clerical Subs n.a. n.a. -100.00% n.a. n.a. n.a. n.a. n.a.Salaries - Clerical OT n.a. n.a. -100.00% n.a. 4.00% 4.00% 4.00% 4.00%Salaries - Clerical Summer n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a.Salaries - Printing n.a. n.a. 156.41% 0.00% 4.00% 4.00% 4.00% 4.00%Salaries - Facilities n.a. n.a. -5.58% 26.32% 4.00% 4.00% 4.00% 4.00%Salaries - Facilities Sub n.a. n.a. -100.00% n.a. 4.00% 4.00% 4.00% 4.00%Salaries - Facilities OT n.a. n.a. 0.25% 6.86% 4.00% 4.00% 4.00% 4.00%Salaries - Custodian n.a. n.a. n.a. n.a. 4.00% 4.00% 4.00% 4.00%Salaries - Custodian Sub n.a. n.a. -100.00% n.a. 4.00% 4.00% 4.00% 4.00%Salaries - Custodian OT n.a. n.a. 10.06% -8.33% 4.00% 4.00% 4.00% 4.00%Salaries - Custodian Summer n.a. n.a. 361.49% -100.00% n.a. n.a. n.a. n.a.Salaries - Instruc. Asst. n.a. n.a. -24.58% 38.28% 4.00% 4.00% 4.00% 4.00%Salaries - IA OT n.a. n.a. -100.00% n.a. n.a. n.a. n.a. n.a.Group Insurance 13.25% 18.63% -100.00% n.a. 10.00% 10.00% 10.00% 10.00%Social Security Contributions 2.81% 5.99% -100.00% n.a. 4.00% 4.00% 4.00% 4.00%Retirement Contributions 14.19% -29.18% -100.00% n.a. 35.38% 187.21% 14.21% 8.81%Tuition Reimbursements 33.51% 21.06% -100.00% n.a. 3.00% 3.00% 3.00% 3.00%Unemployment Compensation -40.52% 17.71% -100.00% n.a. 0.00% 0.00% 0.00% 0.00%Workmen's Compensation -3.64% 7.53% -100.00% n.a. 4.00% 4.00% 4.00% 4.00%Personnel Services - Employee Benefits n.a. n.a. n.a. -100.00% n.a. n.a. n.a. n.a.

Total Salaries and Wages 3.68% 3.08% 5.37% 9.62% 6.96% 19.44% 6.89% 5.96%

TOTAL PERSONNEL 3.68% 3.08% 5.37% 9.62% 6.96% 19.44% 6.89% 5.96%

OPERATING Operating ExpensesPurchased Professional & Technical Services 12.61% 11.87% -13.69% 34.06% 2.20% 2.20% 2.20% 2.20%Purchased Property Services -7.09% -12.86% 16.62% 2.63% 2.20% 2.20% 2.20% 2.20%Other Purchased Services n.a. n.a. n.a. -100.00% n.a. n.a. n.a. n.a.Student Transportation Services -70.67% 19.95% -100.00% n.a. 2.20% 2.20% 2.20% 2.20%St. Tr Svc from an LEA In PA n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a.St. Tr Svc-Contr Carrier 3.72% -3.66% -100.00% n.a. n.a. n.a. n.a. n.a.St Trans - Public Carriers n.a. -23.40% -100.00% n.a. 2.20% 2.20% 2.20% 2.20%St Tr Svc from the IU 102.75% -34.21% -100.00% n.a. n.a. n.a. n.a. n.a.St Tr Svc from other sources n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a.Insurance-General -48.92% 427.58% -100.00% n.a. 2.20% 2.20% 2.20% 2.20%Fire Insurance n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a.Automotive Liability Insurance -10.26% -14.58% -100.00% n.a. 2.20% 2.20% 2.20% 2.20%General Property and Liability Insurance 17.30% -31.49% -100.00% n.a. n.a. n.a. n.a. n.a.Other Insurance -5.39% -100.00% n.a. n.a. n.a. n.a. n.a. n.a.Communications -23.67% 26.30% -100.00% n.a. 2.20% 2.20% 2.20% 2.20%Advertising 66.71% -5.60% -100.00% n.a. 2.20% 2.20% 2.20% 2.20%Printing & Binding -23.17% 37.71% -100.00% n.a. 2.20% 2.20% 2.20% 2.20%Tuition -2.98% 11.82% -100.00% n.a. 2.20% 2.20% 2.20% 2.20%Travel 16.93% -50.06% -100.00% n.a. 2.20% 2.20% 2.20% 2.20%Miscellaneous Purchased Services 43.12% -14.30% -100.00% n.a. 2.20% 2.20% 2.20% 2.20%Supplies n.a. n.a. n.a. -100.00% n.a. n.a. n.a. n.a.General Supplies -6.56% 16.43% -100.00% n.a. 2.20% 2.20% 2.20% 2.20%Energy 30.08% 38.98% -100.00% n.a. 2.20% 2.20% 2.20% 2.20%Food n.a. -100.00% n.a. n.a. n.a. n.a. n.a. n.a.Books & Periodicals 0.48% 137.55% -100.00% n.a. 2.20% 2.20% 2.20% 2.20%Property n.a. n.a. n.a. -100.00% n.a. n.a. n.a. n.a.Equipment - Original & Additional 445.22% 244.80% -100.00% n.a. 2.20% 2.20% 2.20% 2.20%

Equipment - Replacement 168.04% 306.32% -100.00% n.a. 2.20% 2.20% 2.20% 2.20%Other Objects 5.20% 20.66% 675.98% -30.02% 2.20% 2.20% 2.20% 2.20%

Total Operating Expenses 3.86% 10.03% 8.71% 7.61% 2.20% 2.20% 2.20% 2.20%

Debt Service and TransfersInterest n.a. 29.55% 13.11% -3.73% 0.50% -6.08% -6.88% -6.33%Refund of Prior Year's Receipts 2275.36% -77.47% -100.00% n.a. n.a. n.a. n.a. n.a.Other Financing Uses n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a.Redemption of Principal n.a. 4.22% 5.40% -19.84% 37.13% 4.22% 4.19% 3.49%Authority Obligations n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a.Fund Transfers -12.39% -90.94% 1.81% 138.64% 2.20% 2.20% 2.20% 2.20%

Total Debt Service and Transfers 102.24% -31.75% 8.23% -4.58% 17.08% 0.28% 0.23% 0.26%

TOTAL OPERATING AND DEBT SERVICE 19.89% -1.45% 8.62% 5.30% 4.76% 1.83% 1.83% 1.84%

TOTAL EXPENDITURES 8.63% 1.55% 6.43% 8.17% 6.25% 13.80% 5.44% 4.82%

NET OPERATING EXPENDITURES 336.59% 33.16% -47.47% -100.00% n.a. 316.18% 16.66% 10.87%

School Budget Projection Model: Real Estate Planning

School District of Cheltenham Township

act_07 proj_01 proj_02

BASELINE 2007 2011 20120 $79,650,584 $100,549,764 $105,109,7801 $79,166,259 $100,549,764 $106,830,206

$484,325 $0 ($1,720,427)

Manual Millage Rate Increases 4.76% Manual Value of a Mill Increases 3.17%

TOTAL REVENUESTOTAL EXPENDITURES

BASELINE OPERATING BALANCE $2,114,509

act_092009$90,148,026

$87,332,294

act_082008$88,111,612

$85,997,103($7,160,080)$1,479,105 ($8,353,236) ($9,261,144)$2,815,732

$125,105,746

$134,366,890

var_012010$94,430,144

$92,951,039

$119,835,361

$128,188,597

proj_03 proj_052013

$114,415,807

$121,575,887

2015proj_042014

General Fund Fiscal Gap Analysis, 2007-2015

8.49%  

5.16%  

5.34%  

4.76%  

4.00%   4.00%   4.00%   4.00%  

0.00%  

1.00%  

2.00%  

3.00%  

4.00%  

5.00%  

6.00%  

7.00%  

8.00%  

9.00%  

2008   2009   2010   2011   2012   2013   2014   2015  

Act 1 Index (Tax Increase)

32.65  35.42  

37.25  39.24  

41.11  42.75  

44.46  46.24  

48.09  

30.00  

35.00  

40.00  

45.00  

50.00  

2007   2008   2009   2010   2011   2012   2013   2014   2015  

Millage Rate

Millage  Rate  

1.27%  

0.50%  

-­‐1.97%  

3.17%  

0.50%   0.50%   0.50%   0.50%  

-­‐3.00%  

-­‐2.00%  

-­‐1.00%  

0.00%  

1.00%  

2.00%  

3.00%  

4.00%  

2008   2009   2010   2011   2012   2013   2014   2015  

Value of a Mill Growth

 1,795,313    

 1,818,163    

 1,827,284      1,791,291    

 1,848,064    

 1,857,304    

 1,866,591    

 1,875,924    

 1,885,303    

 1,740,000      1,760,000      1,780,000      1,800,000      1,820,000      1,840,000      1,860,000      1,880,000      1,900,000    

2007   2008   2009   2010   2011   2012   2013   2014   2015  

Value of a Mill

Value  of  a  Mill  

($30,000,000)  ($20,000,000)  ($10,000,000)  

$0    $10,000,000    

2007   2008   2009   2010   2011   2012   2013   2014   2015  

FY 07 - 15 General Fund Projections FY Surplus / (Deficit)

FY Ending Fund Balance

School Budget Projection Model: Retirement Planning

School District of Cheltenham Township

act_07 act_08 act_09 var_01 proj_01 proj_02 proj_03 proj_04 proj_05

BASELINE 2007 2008 2009 2010 2011 2012 2013 2014 20150 $79,650,584 $88,111,612 $90,148,026 $94,430,144 $100,549,764 $105,109,780 $114,415,807 $119,835,361 $125,105,7461 $79,166,259 $85,997,103 $87,332,294 $92,951,039 $100,549,764 $106,830,206 $121,575,887 $128,188,597 $134,366,890

$484,325 $2,114,509 $2,815,732 $1,479,105 $0 ($1,720,427) ($7,160,080) ($8,353,236) ($9,261,144)

HISTORICAL DATA PROJECTED DATA2007 2008 2009 2010 2011 2012 2013 2014 2015act_07 act_08 act_09 var_01 proj_01 proj_02 proj_03 proj_04 proj_05Actual Actual Actual Budget Projected Projected Projected Projected Projected

100 Personnel Services - Salaries 41,823,210 42,470,731 43,381,957 44,485,323 48,188,319 50,115,852 52,120,486 54,205,305 56,373,517

PSERS Contribution Rates* 6.46% 7.13% 4.76% 4.78% 8.22% 10.70% 29.55% 32.45% 33.95%

Project Contributions 2,701,779 3,028,163 2,064,981 2,126,398 3,961,080 5,362,396 15,401,604 17,589,622 19,138,809 230 Actual Contributions 2,613,144 2,983,904 2,113,181 - - - - - -

*Source: PASBO. Contribution Rates can be modified to reflect higher budgeted rates.

PSERS Contribution Rates* 6.46% 7.13% 4.76% 4.78% 8.22% 10.70% 29.55% 32.45% 33.95%

Project Contributions 2,701,779 3,028,163 2,064,981 2,126,398 3,961,080 5,362,396 15,401,604 17,589,622 19,138,809 State Reimbursement 50.00% 1,350,890 1,514,082 1,032,491 1,063,199 1,980,540 2,681,198 7,700,802 8,794,811 9,569,405

7820 Actual Reimbursement 1,306,135 1,490,178 1,062,010 962,370 - - - - -

*Source: PASBO. Contribution Rates can be modified to reflect higher budgeted rates.

Rev

enue

Bu

dget

TOTAL REVENUESTOTAL EXPENDITURESBASELINE OPERATING BALANCE

Expe

nditu

re

Budg

et

Retirement Planning Tab is designed to alllow the user to budget at a higher PSERS contribution rate, if desired. For budgeting purposes, the user can also budget the actual PSERS contriibution rate for the Revenue component of the PSERS calculation.

$75,000,000

$85,000,000

$95,000,000

$105,000,000

$115,000,000

$125,000,000

$135,000,000

$145,000,000

2007 2008 2009 2010 2011 2012 2013 2014 2015

General Fund Fiscal Gap Analysis, 2007-15

TOTAL REVENUES TOTAL EXPENDITURES

($30,000,000)  ($20,000,000)  ($10,000,000)  

$0    $10,000,000    

2007   2008   2009   2010   2011   2012   2013   2014   2015  

FY 07 - 15 General Fund Projections FY Surplus / (Deficit)

FY Ending Fund Balance

School Budget Projection Model: Capital Planning

School District of Cheltenham Township

act_07 act_08 act_09 var_01 proj_01 proj_02 proj_03 proj_04 proj_05

BASELINE 2007 2008 2009 2010 2011 2012 2013 2014 20150 $79,650,584 $88,111,612 $90,148,026 $94,430,144 $100,549,764 $105,109,780 $114,415,807 $119,835,361 $125,105,7461 $79,166,259 $85,997,103 $87,332,294 $92,951,039 $100,549,764 $106,830,206 $121,575,887 $128,188,597 $134,366,890

$484,325 $2,114,509 $2,815,732 $1,479,105 $0 ($1,720,427) ($7,160,080) ($8,353,236) ($9,261,144)

2011 2012 2013 2014 2015Principal 2,505,000 3,435,000 3,580,000 3,730,000 3,860,000 Interest 2,475,926 2,360,026 2,216,426 2,063,968 1,933,388

Total Debt Service 4,980,926 5,795,026 5,796,426 5,793,968 5,793,388 Less: State Aid 428,771 528,029 527,941 525,817 522,041

Total Local Effort 4,552,155 5,266,997 5,268,485 5,268,151 5,271,347

Future Capital Needs*

2011 2012 2013 2014 2015Principal 2,505,000 3,435,000 3,580,000 3,730,000 3,860,000 Interest 2,475,926 2,360,026 2,216,426 2,063,968 1,933,388

Total Debt Service 4,980,926 5,795,026 5,796,426 5,793,968 5,793,388 Less: State Aid 428,771 528,029 527,941 525,817 522,041

Total Local Effort 4,552,155 5,266,997 5,268,485 5,268,151 5,271,347

*For these purposes, all future bond issues are assumed to be 20-year Level Payments and are assumed at a fixed interest rate of 5.0%. Actual rates to be determined at final pricing. Also, assumes no state reimbursement.

Proposed Debt Structure

TOTAL REVENUESTOTAL EXPENDITURES

BASELINE OPERATING BALANCE

Existing Debt Structure

 -­‐        

 1,000,000    

 2,000,000    

 3,000,000    

 4,000,000    

 5,000,000    

 6,000,000    

2011   2012   2013   2014   2015  

$MM  

Local Effort Summary

Series  of  2014  -­‐  Local  Effort   Series  of  2013  -­‐  Local  Effort   Series  of  2012  -­‐  Local  Effort  

Series  of  2011  -­‐  Local  Effort   Exis:ng  Local  Effort  

$75,000,000

$85,000,000

$95,000,000

$105,000,000

$115,000,000

$125,000,000

$135,000,000

$145,000,000

2007 2008 2009 2010 2011 2012 2013 2014 2015

General Fund Fiscal Gap Analysis, 2007-15

TOTAL REVENUES TOTAL EXPENDITURES

($30,000,000)  ($20,000,000)  ($10,000,000)  

$0    $10,000,000    

2007   2008   2009   2010   2011   2012   2013   2014   2015  

FY 07 - 15 General Fund Projections FY Surplus / (Deficit)

FY Ending Fund Balance

No New Money No New Money No New Money No New Money

Expenditures per student “Schoolmatters.com” provides quantitative data relative to spending per district in the United States. A summary of such data which reveals the spending patterns and benchmarks for the School District of Cheltenham Township is below. It is important when reviewing this comparison that Montgomery County is a high cost area of Pennsylvania and subsequently when placed against a state average that factor has to be considered. The state of Pennsylvania Department of Education assigns costs factors to school districts where 1.0 is normal. Montgomery County’s cost factor is 1.3

Test Scores The chart below shows a comparison of the School District of Cheltenham Township’s performance on the annual PSSA test for 2008 versus 2009 with a breakdown by each respective subgroup for the test.

The “IEP” stands for those students with Individualized Education Plans and ED stands for those students who are economically disadvantaged.

More detailed information is available in the attached district report card. Budgeted positions

2007-08 2008-09 2009-10 Reductions

2010-11 Additions

2010-11 Total Staff

2010-11 Professional 407 409 420 -4 3 419 Classified Staff 200 219 260 -11 11 260

Total* 607 628 680 -15 14 679 *Of the total positions approximately 10% are part-time.

Mathematics, Reading, Science, and Writing

PSSA Spring 2009:

123461302 CHELTENHAM TOWNSHIP SD

Reading 81.6 71.3

Science 67.1 59.1

Writing 79.0 70.9

Mathematics 83.2 73.4

Percentage of Students Proficient and Advanced

Subject District State

Dear District Leader:

This report provides you with valuableinformation about your district’sperformance on the Pennsylvania Systemof School Assessment (PSSA).

The report is designed to give you:Provided for

Gerald L. Zahorchak, D.Ed.

An overview of how your students’performance compares with that ofprevious years;An overview of how your students’performance compares to theperformance of students statewide;In-depth results by grade, subject andstudent group;Data on your district’s achievementby reporting category andassessment anchor; andTools and resources for finding moreinformation to help teachers betterunderstand the assessment andinstructional priorities.

I encourage you to use this report anddetailed, supporting materials on the PDEWeb site to help you and your staffcontinuously improve your district. Ourmutual goal is to enable each individual togrow into an inspired, productive, fulfilledlifelong learner.

Sincerely,

•

•

•

•

•

2The Pennsylvania System of School Assessment www.pde.state.pa.us

CHELTENHAM TOWNSHIP SD

3The Pennsylvania System of School Assessment www.pde.state.pa.us

District 2009 7 11 32 50

District 2007 11 13 35 41

District 2008 10 13 35 42

State 2009 14 15 35 36

Reading Performance Level ResultsPercentages at EachPerformance Level*

District 2009 6 11 27 56

District 2007 11 14 30 45

District 2008 11 13 27 49

State 2009 12 14 30 44

Mathematics Performance Level ResultsPercentages at EachPerformance Level*

In 2009, 83.2% of the students at CHELTENHAM TOWNSHIP SD met or exceeded proficiency in Mathematics. Comparatively, 73.4% of the students in Pennsylvania met or exceeded proficiency in Mathematics. Use the 2007 and 2008 data provided to determine your district's three-year progress in Mathematics.

In 2009, 81.6% of the students at CHELTENHAM TOWNSHIP SD met or exceeded proficiency in Reading. Comparatively, 71.3% of the students in Pennsylvania met or exceeded proficiency in Reading. Use the 2007 and 2008 data provided to determine your district's three-year progress in Reading.

CHELTENHAM TOWNSHIP SD

4The Pennsylvania System of School Assessment www.pde.state.pa.us

District 2009 12 21 36 31

District 2007 NA NA NA NA

District 2008 14 31 29 26

State 2009 16 24 32 27

Science Performance Level ResultsPercentages at EachPerformance Level*

District 2009 0 21 65 14

District 2007 0 20 69 11

District 2008 0 18 74 8

State 2009 3 27 61 9

Writing Performance Level ResultsPercentages at EachPerformance Level*

In 2009, 67.1% of the students at CHELTENHAM TOWNSHIP SD met or exceeded proficiency in Science. Comparatively, 59.1% of the students in Pennsylvania met or exceeded proficiency in Science. Use the 2007 and 2008 data provided to determine your district's three-year progress in Science.

In 2009, 79.0% of the students at CHELTENHAM TOWNSHIP SD met or exceeded proficiency in Writing. Comparatively, 70.9% of the students in Pennsylvania met or exceeded proficiency in Writing. Use the 2007 and 2008 data provided to determine your district's three-year progress in Writing.

CHELTENHAM TOWNSHIP SD

5The Pennsylvania System of School Assessment www.pde.state.pa.us

Multi-Racial/Ethnic 0 0 0 0 0

White non-Hispanic 2 6 20 72 985

English Language Learner 0 33 0 67 3

Economically Disadvantaged 13 17 36 35 260

Migrant Education Program** 0 0 0 0 0

IEP-Special Education 27 29 27 17 305

Black/African American non-Hispanic 11 17 34 38 960

Female** 4 10 27 59 1100

All Students 6 11 27 56 2202

Latino/Hispanic 6 16 35 42 79

Asian or Pacific Islander 2 2 19 77 171

American Indian or Alaskan Native 0 25 50 25 4

Male** 7 12 27 54 1099

Mathematics: Percentages and Total Number by Group*

Multi-Racial/Ethnic 0 0 0 0 0

White non-Hispanic 2 5 27 66 986

English Language Learner 0 33 33 33 3

Economically Disadvantaged 18 19 35 28 260

Migrant Education Program** 0 0 0 0 0

IEP-Special Education 34 25 29 11 306

Black/African American non-Hispanic 13 18 36 33 959

Female** 4 10 30 56 1101

All Students 7 11 32 50 2202

Latino/Hispanic 9 19 34 38 79

Asian or Pacific Islander 3 7 31 59 171

American Indian or Alaskan Native 0 25 50 25 4

Male** 11 12 34 43 1098

Reading: Percentages and Total Number by Group*

CHELTENHAM TOWNSHIP SD

6The Pennsylvania System of School Assessment www.pde.state.pa.us

Multi-Racial/Ethnic 0 0 0 0 0

White non-Hispanic 4 15 33 48 434

English Language Learner 20 0 60 20 5

Economically Disadvantaged 26 24 43 8 89

Migrant Education Program** 0 0 0 0 0

IEP-Special Education 43 20 30 7 133

Black/African American non-Hispanic 20 29 38 13 404

Female** 8 21 41 30 472

All Students 12 21 36 31 949

Latino/Hispanic 21 15 38 26 39

Asian or Pacific Islander 4 19 37 40 70

American Indian or Alaskan Native 0 100 0 0 2

Male** 14 22 31 33 476

Science: Percentages and Total Number by Group*

Multi-Racial/Ethnic 0 0 0 0 0

White non-Hispanic 0 13 66 21 412

English Language Learner 0 100 0 0 1

Economically Disadvantaged 1 39 55 5 98

Migrant Education Program** 0 0 0 0 0

IEP-Special Education 3 53 41 2 121

Black/African American non-Hispanic 0 30 63 7 406

Female** 0 14 66 19 457

All Students 0 21 65 14 923

Latino/Hispanic 0 28 60 13 40

Asian or Pacific Islander 0 9 69 22 64

American Indian or Alaskan Native 0 0 100 0 1

Male** 1 27 63 9 465

Writing: Percentages and Total Number by Group*

CHELTENHAM TOWNSHIP SD

7The Pennsylvania System of School Assessment www.pde.state.pa.us

State 11 13 26 50

District 11 11 17 31 41

State 10 17 29 44

District 7 9 11 23 58

State 13 16 27 45

District 8 5 13 24 58

State 12 13 28 48

District 3 1 5 33 62

State 25 20 30 26

District 6 6 12 25 57

State 5 13 38 44

District 5 4 12 27 57

State 9 9 31 51

District 4 7 7 27 60

MathematicsDistrict and State Performances by Grade

Percentages at Each Performance Level*

CHELTENHAM TOWNSHIP SD

8The Pennsylvania System of School Assessment www.pde.state.pa.us

State 14 18 31 37

District 11 8 10 29 54

State 18 18 42 23

District 7 6 16 28 50

State 11 9 25 55

District 8 5 6 17 72

State 11 17 30 41

District 3 6 7 44 43

State 19 16 32 33

District 6 8 12 31 48

State 14 10 51 26

District 5 11 13 42 33

State 13 15 36 36

District 4 7 13 33 47

ReadingDistrict and State Performances by Grade

Percentages at Each Performance Level*

CHELTENHAM TOWNSHIP SD

9The Pennsylvania System of School Assessment www.pde.state.pa.us

State 5 12 41 42

District 11 11 34 26 29

State 24 21 33 22

District 8 18 21 37 25

State 20 41 23 17

District 4 6 11 43 40

ScienceDistrict and State Performances by Grade

Percentages at Each Performance Level*

State 1 41 56 3

District 11 0 7 67 27

State 4 25 61 11

District 8 1 13 73 14

State 2 15 68 15

District 5 1 44 53 2

WritingDistrict and State Performances by Grade

Percentages at Each Performance Level*

CHELTENHAM TOWNSHIP SD

10The Pennsylvania System of School Assessment www.pde.state.pa.us

Identify and/or apply concepts of transformations or symmetry.

7.1 6.5 8

Geometry 9.0 8.3 10

Algebraic Concepts 9.5 8.7 11

Data Analysis and Probability 9.5 9.1 10

Represent and/or analyze mathematical situations using numbers, symbols, words, tables, and/or graphs.

7.6 6.9 9

Formulate or answer questions that can be addressed with data and/or organize, display, interpret, or analyze data.

9.5 9.1 10

Numbers and Operations 28.0 26.0 31

Demonstrate an understanding of measurable attributes of objects and figures, and the units, systems, and processes of measurement.

6.6 6.2 8

Demonstrate an understanding of numbers, ways of representing numbers, relationships among numbers and number systems.

16.9 15.5 19

Measurement 8.4 7.9 10

Compute accurately and fluently and make reasonable estimates.

7.4 7.0 8

Grade 3 District Average State Average TotalPoints Possible

Mathematics Reporting CategoriesAnd Assessment Anchors

CHELTENHAM TOWNSHIP SD

11The Pennsylvania System of School Assessment www.pde.state.pa.us

Analyze characteristics and properties of two- and three- dimensional geometric shapes and demonstrate understanding of geometric relationships.

6.0 5.5 8

Geometry 7.6 7.0 10

Formulate or answer questions that can be addressed with data and/or organize, display, interpret, or analyze data.

6.9 6.8 8

Data Analysis and Probability 7.8 7.7 9

Demonstrate an understanding of patterns, relations and functions.

6.4 5.5 9

Algebraic Concepts 7.1 6.3 10

Demonstrate an understanding of numbers, ways of representing numbers, relationships among numbers and number systems.

12.8 11.2 19

Numbers and Operations 20.9 18.9 32

Apply appropriate techniques, tools and formulas to determine measurements.

5.5 5.3 8

Measurement 7.6 7.4 11

Compute accurately and fluently and make reasonable estimates.

5.0 4.9 8

Understand the meaning of operations, use operations and understand how they relate to each other.

3.1 2.8 5

Grade 4 District Average State Average TotalPoints Possible

Mathematics Reporting CategoriesAnd Assessment Anchors

CHELTENHAM TOWNSHIP SD

12The Pennsylvania System of School Assessment www.pde.state.pa.us

Analyze characteristics and properties of two- and three- dimensional geometric shapes and demonstrate understanding of geometric relationships.

4.7 4.5 8

Geometry 6.6 6.4 11

Select and/or use appropriate statistical methods to analyze data.

6.3 5.9 8

Data Analysis and Probability 6.9 6.5 9

Demonstrate an understanding of patterns, relations and functions.

6.3 6.1 8

Algebraic Concepts 7.5 7.2 10

Demonstrate an understanding of numbers, ways of representing numbers, relationships among numbers and number systems.

12.7 11.3 17

Numbers and Operations 22.9 20.3 31

Demonstrate an understanding of measurable attributes of objects and figures, and the units, systems, and processes of measurement.

4.9 4.2 8

Measurement 6.6 5.8 11

Compute accurately and fluently and make reasonable estimates.

3.6 3.4 5

Understand the meaning of operations, use operations and understand how they relate to each other.

6.7 5.6 9

Grade 5 District Average State Average TotalPoints Possible

Mathematics Reporting CategoriesAnd Assessment Anchors

CHELTENHAM TOWNSHIP SD

13The Pennsylvania System of School Assessment www.pde.state.pa.us

Analyze characteristics and properties of two- and three- dimensional geometric shapes and demonstrate understanding of geometric relationships.

7.6 7.2 11

Geometry 10.0 9.5 14

Algebraic Concepts 9.5 9.1 13

Data Analysis and Probability 8.3 8.0 13

Represent and/or analyze mathematical situations using numbers, symbols, words, tables, and/or graphs.

6.1 6.0 9

Formulate or answer questions that can be addressed with data and/or organize, display, interpret, or analyze data.

5.1 4.9 8

Numbers and Operations 15.6 14.4 22

Apply appropriate techniques, tools and formulas to determine measurements.

6.3 6.0 8

Demonstrate an understanding of numbers, ways of representing numbers, relationships among numbers and number systems.

10.7 9.7 16

Measurement 7.4 7.0 10

Compute accurately and fluently and make reasonable estimates.

4.0 3.8 5

Grade 6 District Average State Average TotalPoints Possible

Mathematics Reporting CategoriesAnd Assessment Anchors

CHELTENHAM TOWNSHIP SD

14The Pennsylvania System of School Assessment www.pde.state.pa.us

Algebraic Concepts 10.9 10.1 16

Analyze characteristics and properties of two- and three- dimensional geometric shapes and demonstrate understanding of geometric relationships.

7.2 6.6 11

Understand and/or apply basic concepts of probability or outcomes.

4.1 3.8 8

Data Analysis and Probability 8.7 8.3 14

Analyze change in various contexts. 5.3 4.6 8

Represent and/or analyze mathematical situations using numbers, symbols, words, tables, and/or graphs.

4.0 4.1 6

Understand the meaning of operations, use operations and understand how they relate to each other.

5.8 5.8 8

Numbers and Operations 11.8 11.8 17

Geometry 9.6 8.9 14

Apply appropriate techniques, tools and formulas to determine measurements.

5.3 5.0 8

Measurement 6.9 6.5 11

Compute accurately and fluently and make reasonable estimates.

2.9 3.2 5

Grade 7 District Average State Average TotalPoints Possible

Mathematics Reporting CategoriesAnd Assessment Anchors

CHELTENHAM TOWNSHIP SD

15The Pennsylvania System of School Assessment www.pde.state.pa.us

Algebraic Concepts 14.0 12.9 20

Locate points or describe relationships using the coordinate plane.

4.4 4.1 6

Analyze characteristics and properties of two- and three- dimensional geometric shapes and demonstrate understanding of geometric relationships.

6.0 5.3 8

Data Analysis and Probability 9.2 8.5 12

Represent and/or analyze mathematical situations using numbers, symbols, words, tables, and/or graphs.

5.2 4.9 8

Demonstrate an understanding of patterns, relations and functions.

5.7 5.1 8

Formulate or answer questions that can be addressed with data and/or organize, display, interpret, or analyze data.

6.3 5.8 8

Understand the meaning of operations, use operations and understand how they relate to each other.

4.8 4.4 8

Numbers and Operations 10.3 9.6 15

Geometry 10.4 9.4 14

Apply appropriate techniques, tools and formulas to determine measurements.

5.9 5.3 8

Measurement 7.7 6.9 11

Compute accurately and fluently and make reasonable estimates.

3.8 3.6 5

Grade 8 District Average State Average TotalPoints Possible

Mathematics Reporting CategoriesAnd Assessment Anchors

CHELTENHAM TOWNSHIP SD

16The Pennsylvania System of School Assessment www.pde.state.pa.us

Algebraic Concepts 21.0 18.3 27

Analyze characteristics and properties of two- and three- dimensional geometric shapes and demonstrate understanding of geometric relationships.

6.2 5.6 9

Represent and/or analyze mathematical situations using numbers, symbols, words, tables, and/or graphs.

10.7 9.3 14

Data Analysis and Probability 9.0 7.5 13

Analyze change in various contexts. 5.4 4.9 7

Develop and/or evaluate inferences and predictions or draw conclusions based on data or data displays.

5.1 4.0 8

Numbers and Operations 7.4 6.6 11

Geometry 8.5 7.6 12

Demonstrate an understanding of numbers, ways of representing numbers, relationships among numbers and number systems.

5.4 4.9 8

Apply appropriate techniques, tools and formulas to determine measurements.

6.8 6.0 9

Measurement 6.8 6.0 9

Grade 11 District Average State Average TotalPoints Possible

Mathematics Reporting CategoriesAnd Assessment Anchors

CHELTENHAM TOWNSHIP SD

17The Pennsylvania System of School Assessment www.pde.state.pa.us

Understand nonfiction appropriate to grade level.

10.3 9.4 14

Interpretation and Analysis of Fictional and Nonfictional Text

10.1 9.1 14

Understand components within and between texts.

6.3 5.8 9

Understand fiction appropriate to grade level.

13.7 12.4 18

Comprehension and Reading Skills 24.0 21.8 32

Grade 3 District Average State Average TotalPoints Possible

Reading Reporting CategoriesAnd Assessment Anchors

CHELTENHAM TOWNSHIP SD

18The Pennsylvania System of School Assessment www.pde.state.pa.us

Understand concepts and organization of nonfictional text.

5.4 5.0 8

Interpretation and Analysis of Fictional and Nonfictional Text

15.4 14.2 23

Understand components within and between texts.

8.6 7.9 13

Understand nonfiction appropriate to grade level.

9.6 9.0 14

Comprehension and Reading Skills 21.3 19.9 29

Understand fiction appropriate to grade level.

11.7 10.9 15

Grade 4 District Average State Average TotalPoints Possible

Reading Reporting CategoriesAnd Assessment Anchors

CHELTENHAM TOWNSHIP SD

19The Pennsylvania System of School Assessment www.pde.state.pa.us

Understand nonfiction appropriate to grade level.

12.0 11.1 17

Interpretation and Analysis of Fictional and Nonfictional Text

16.7 15.6 23

Understand components within and between texts.

10.7 10.0 15

Understand fiction appropriate to grade level.

8.8 8.3 12

Comprehension and Reading Skills 20.8 19.5 29

Grade 5 District Average State Average TotalPoints Possible

Reading Reporting CategoriesAnd Assessment Anchors

CHELTENHAM TOWNSHIP SD

20The Pennsylvania System of School Assessment www.pde.state.pa.us

Understand concepts and organization of nonfictional text.

4.3 4.1 6

Interpretation and Analysis of Fictional and Nonfictional Text

19.7 18.3 27

Understand components within and between texts.

12.3 11.2 17

Understand nonfiction appropriate to grade level.

9.8 8.9 14

Comprehension and Reading Skills 18.2 17.2 25

Understand fiction appropriate to grade level.

8.4 8.2 11

Grade 6 District Average State Average TotalPoints Possible

Reading Reporting CategoriesAnd Assessment Anchors

CHELTENHAM TOWNSHIP SD

21The Pennsylvania System of School Assessment www.pde.state.pa.us

Interpretation and Analysis of Fictional and Nonfictional Text

20.2 18.5 29

Understand components within and between texts.

12.0 10.9 18

Understand literary devices in fictional and nonfictional text.

3.5 3.2 5

Understand concepts and organization of nonfictional text.

4.7 4.3 6

Understand nonfiction appropriate to grade level.

9.7 9.5 14

Comprehension and Reading Skills 16.8 16.0 23

Understand fiction appropriate to grade level.

7.0 6.6 9

Grade 7 District Average State Average TotalPoints Possible

Reading Reporting CategoriesAnd Assessment Anchors

CHELTENHAM TOWNSHIP SD

22The Pennsylvania System of School Assessment www.pde.state.pa.us

Interpretation and Analysis of Fictional and Nonfictional Text

20.2 18.3 29

Understand components within and between texts.

10.6 9.7 15

Understand literary devices in fictional and nonfictional text.

3.7 3.4 5

Understand concepts and organization of nonfictional text.

5.9 5.2 9

Understand nonfiction appropriate to grade level.

9.7 8.9 13

Comprehension and Reading Skills 17.8 16.4 23

Understand fiction appropriate to grade level.

8.1 7.5 10

Grade 8 District Average State Average TotalPoints Possible

Reading Reporting CategoriesAnd Assessment Anchors

CHELTENHAM TOWNSHIP SD

23The Pennsylvania System of School Assessment www.pde.state.pa.us

Understand concepts and organization of nonfictional text.

8.6 7.8 11

Understand components within and between texts.

12.5 10.7 17

Understand literary devices in fictional and nonfictional text.

3.8 3.3 5

Interpretation and Analysis of Fictional and Nonfictional Text

24.8 21.8 33

Comprehension and Reading Skills 14.7 13.2 19

Understand nonfiction appropriate to grade level.

11.6 10.2 15

Grade 11 District Average State Average TotalPoints Possible

Reading Reporting CategoriesAnd Assessment Anchors

CHELTENHAM TOWNSHIP SD

24The Pennsylvania System of School Assessment www.pde.state.pa.us

Science Reporting CategoriesAnd Assessment Anchors

Systems, Models, and Patterns 10.5 10.9 15

Biological Science 8.3 8.1 11

Physical Science 8.7 8.7 12

Earth and Space Science 6.3 6.7 11

Processes, Procedures, and Tools of Scientific Investigation

7.4 7.4 11

Nature of Science 23.4 23.8 34

Reasoning and Analysis 5.6 5.5 8

Grade 4 District Average State Average TotalPoints Possible

CHELTENHAM TOWNSHIP SD

25The Pennsylvania System of School Assessment www.pde.state.pa.us

Science Reporting CategoriesAnd Assessment Anchors

Physical Science 7.2 6.5 11

Ecological Behavior and Systems 3.8 3.4 6

Principles of Force and Motion 3.3 2.9 5

Earth Features and Processes that Change Earth and its Resources

2.6 2.6 5

Earth and Space Science 6.5 6.4 11

Composition and Structure of the Universe 3.1 3.0 5

Nature of Science 22.0 20.7 34

Biological Science 7.8 7.4 12

Reasoning and Analysis 5.2 5.0 8

Systems, Models, and Patterns 7.0 6.8 10

Processes, Procedures, and Tools of Scientific Investigation

9.7 9.0 16

Grade 8 District Average State Average TotalPoints Possible

CHELTENHAM TOWNSHIP SD

26The Pennsylvania System of School Assessment www.pde.state.pa.us

Science Reporting CategoriesAnd Assessment Anchors

Ecological Behavior and Systems 2.5 2.0 6

Continuity of Life 2.8 2.1 5

Physical Science 6.6 6.3 12

Earth and Space Science 6.8 6.4 12

Forms, Sources, Conversions, and Transfer of Energy

2.7 2.5 5

Earth Features and Processes that Change Earth and its Resources

5.0 4.8 8

Nature of Science 23.6 21.1 37

Biological Science 6.6 5.2 13

Reasoning and Analysis 11.1 9.8 18

Systems, Models, and Patterns 5.0 4.5 7

Processes, Procedures, and Tools of Scientific Investigation

7.5 6.7 12

Grade 11 District Average State Average TotalPoints Possible

CHELTENHAM TOWNSHIP SD

27The Pennsylvania System of School Assessment www.pde.state.pa.us

Writing Reporting CategoriesAnd Assessment Anchors

Persuasive Prompt 24.7 25.6 40

Revising and Editing 14.3 14.0 20

Multiple Choice 9.1 8.7 12

Informational Prompt 25.4 26.4 40

Composition 50.1 52.0 80

Grade 5 District Average State Average TotalPoints Possible

CHELTENHAM TOWNSHIP SD

28The Pennsylvania System of School Assessment www.pde.state.pa.us

Writing Reporting CategoriesAnd Assessment Anchors

Persuasive Prompt 28.9 27.1 40

Revising and Editing 14.3 13.4 20

Multiple Choice 8.5 8.0 12

Informational Prompt 29.6 27.3 40

Composition 58.5 54.4 80

Grade 8 District Average State Average TotalPoints Possible

CHELTENHAM TOWNSHIP SD

29The Pennsylvania System of School Assessment www.pde.state.pa.us

Writing Reporting CategoriesAnd Assessment Anchors

Persuasive Prompt 31.0 28.3 40

Revising and Editing 16.1 14.9 20

Multiple Choice 10.0 9.1 12

Informational Prompt 31.2 29.2 40

Composition 62.1 57.4 80

Grade 11 District Average State Average TotalPoints Possible

CHELTENHAM TOWNSHIP SD

mmalinowski

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GLOSSARY This glossary contains definitions of terms used in the budget, and not specifically defined elsewhere, and such additional terms as seem necessary to provide a common understanding concerning financial accounting procedures for schools. Several terms, which are not primarily financial accounting terms, have been included due to their significance to school financial accounting. The glossary is arranged alphabetically. AYP: A school district’s adequate yearly progress towards its growth target or subgroup performance in relation to student performance as defined in the No Child Left Behind Act. Account Group: These groups account for and control general fixed assets and unmatured principal of general long-term debt. Accounting System: The total structure of records and procedures which discover, record, classify, and report information on the financial position and operations of a school district or any of its funds, account groups, or organizational components. Accrual Basis: The basis of accounting under which revenues are recorded when they are levied and expenditures are generally recorded when a related liability is incurred, regardless of when the revenue is actually received or the payment is actually made. Act 511- The Local Enabling Act of 1965: Act 511 allows public school districts of the second, third and fourth class to levy certain taxes in order to obtain funding from local sources. Act 544 of 1952: Act 544 allows public school districts to levy interim real estate taxes on the increase in assessed valuations of local property as a result of construction or improvements to that property during the year. Aid to Families with Dependent Children (AFDC): This is a federal (60%) and state (40%) program which provides direct cash payments to families with dependent children. Both the Title I programs and the free and reduced meal programs are available to children from families receiving this aid. Americans with Disabilities Act (ADA): This is federal legislation which mandates non-discrimination on the basis of handicap or disability and prescribes that services, activities, programs and facilities be accessible to and usable by handicapped or disabled persons. Appropriation: An authorization granted by a legislative body to make expenditures and to incur obligations for specific purposes. An appropriation is usually limited in amount and as to the time when it may be expended.

Approved Private Schools (APS): These are state approved private institutions which provide special education programs on a day and residential basis for students whose educational needs cannot be met by either the District or the I.U. given the severity of their handicapping condition. Asbestos Hazard Emergency Response Act (AHERA): This is a regulation that requires schools to conduct inspections, develop comprehensive asbestos management plans, and select asbestos response action to deal with asbestos hazards. Assessed Value: This is the value placed on property, both land and building, by the Dauphin County Board of Assessment Appeals. All counties in the Commonwealth are subject to state statutes governing assessments but each county may establish its own procedures for calculating assessments. Association of School Business Officials (ASBO): ASBO is a professional association which provides programs and services to promote the highest standards of school business management practices, professional growth, and the effective use of educational resources. Balance Sheet: A summarized statement, as of a given date, of the financial position of a school district per fund and/or funds combined showing assets, liabilities and fund equity. Board of School Directors: The elected or appointed body which has been created according to state law and vested with responsibilities for educational activities in a given geographical area. Bonded Debt: An obligation resulting from the borrowing of money through issuance of bonds by the school district. Bond, General Obligation: A written promise to pay specified amounts of money at certain times in the future and carrying interest at fixed rates. The obligation to pay is backed by the taxing authority of the district. The proceeds of bond issues are to pay for capital projects and improvements. Budget: A plan of financial operation embodying an estimate of proposed expenditures for a given period or purpose and the proposed means of financing them. Budget Control: The control or management of the business affairs of the District in accordance with an approved budget with a responsibility to keep expenditures within the authorized amounts.

Budgetary Reserve: This account is not an expenditure function or account. It is strictly a budgetary account to provide for contingencies. Capital Outlay: Expenditures which result in the acquisition of or addition to fixed assets. Charter School: An independent public school designed by local citizens, established and operated under a charter from the local board of school directors. A charter school must be organized as a public nonprofit corporation. Charter schools are exempt from most state mandates, except those ensuring the health, safety and civil rights of students. College Entrance Examination Board (CEEB): The College Board is a not-for-profit educational association that supports academic preparation and transition to higher education for students around the world through the ongoing collaboration of its member schools, colleges, universities, educational systems, and organizations. Comprehensive Annual Financial Report (CAFR): This is the primary vehicle by which the School District reports the results of operations and financial condition of all funds at year end. Contracted Services: Labor, materials and other costs for services rendered by personnel who are not on the payroll of the school district. Current and Interim Real Estate: Revenue received from taxes assessed and levied upon real property, including taxes levied under Act 544 of 1952 on new construction not appearing on the current real estate tax rolls. Debt Limit: The maximum amount of gross and net debt that is legally permitted. Debt Service: Includes payments of both principal and interest on all debt of the school district. Delinquent Taxes: Revenue received from all levies that have become delinquent. Delinquent, for accounting purposes only, means taxes recognized as revenue in a fiscal year subsequent to the fiscal year of levy. Earned Income Tax: A proportional tax levied on the wages, salaries, commissions, net profits or other compensation of residents within the taxing district. Elementary: As defined by state practice, expenditures of a school organization composed of the grades pre-kindergarten through grade six (6).

Encumbrances: Purchase orders, contracts, and/or other commitments, which are chargeable to an appropriation. Encumbrances are not liabilities and therefore are not recorded as expenditures until receipt of material or service. Encumbrances are used in the accounting records for budgetary control. Equipment: Money budgeted for the purchase of moveable items that are of a nonexpendable and mechanical nature to be used in the operation of the school district. Expenditures: These are charges incurred, whether paid or not paid, which benefit the current period. Fiscal Year: A twelve-month period of time to which the annual budget applies and at the end of which a local education agency determines its financial position and the results of its operations. Food Services: This service area includes the preparation and serving of regular and incidental meals, lunches, or snacks in connection with school activities and the delivery of food. Function: This term refers to an expenditure activity or service area aimed at accomplishing a certain purpose or end; for example, Regular Instruction Programs, Special Instruction Programs, Vocational Education Programs, Instructional Staff Services, and Plant Operation and Maintenance. Fund: A fund is a fiscal and accounting entity, with a self-balancing set of accounts which are comprised of each fund's assets, liabilities, fund equity, revenues, and expenditures or expenses. Fund Balance: The excess of assets of a fund over its liabilities and reserves. Fund Balance Appropriations: Monies appropriated from the district's fund balance to offset the shortfall in expected revenues. Fund, Capital Projects: This is the fund used to account for financial resources that are used for the acquisition or construction of major capital equipment and facilities. Fund, General: This is the general operating fund of the District. All activities of the District are accounted for through this fund except for those required to be accounted for in another fund. Fund, Proprietary: This fund type accounts for District activities that are similar to business operations in the private sector or where the reporting focus is on determining net income, financial position, and cash flow. The Food Service

Fund is a proprietary fund which accounts for all revenues, food purchases, and costs and expenses for the Food Service Program. Fund, Special Revenue: These funds are maintained to account for the proceeds of specific revenue sources that are legally or administratively restricted to expenditures for specified purposes. These include the Athletic Fund and the Capital Reserve Fund. Fund Transfers: The transfer of funds from one fund to another. Government Finance Officers Association (GFOA): GFOA is a professional association of government finance managers. GFOA develops and administers programs and provides services in the areas of research, technical assistance, publications, and career development and training. Instructional Support Team (IST): A state supported initiative where a team of school professionals review and discuss a child's learning and recommend appropriate strategies. Levy: To impose taxes or special assessments. Mercantile Tax: A proportional tax levied on the gross receipts from wholesale and retail businesses including wholesale dealers or dealers in goods, wares and merchandise, and all persons engaged in conducting restaurants or other places where food, drink or refreshments are sold. Mill: Property tax rate per thousand dollars of assessed value. One mill is equal to $1.00 per $1,000 of assessed value. To calculate the tax rate, the total property tax amount levied by the district is divided by the assessed valuation of the taxable property, divided by 1,000. Object: This term refers to the service or commodity obtained as the result of a specific expenditure; for example, Salaries, Fringe Benefits, Professional Services, Supplies, and Property. PDE: Pennsylvania Department of Education Pennsylvania System of School Assessment (PSSA) Testing: - State mandated annual achievement testing for grades 5, 8, and 11. Per Capita Personal Income (PCPI): Personal income is the income that is received by persons from all sources. It is calculated as the sum of wage and salary disbursements, supplements to wages and salaries, proprietors' income with inventory valuation and capital consumption adjustments, rental income of persons with capital consumption adjustment, personal dividend income,

personal interest income, and personal current transfer receipts, less contributions for government social insurance. This measure of income is calculated as the personal income of the residents of a given area divided by the resident population of the area. In computing per capita personal income, BEA uses the Census Bureau's annual midyear population estimates. All state and local area dollar estimates are in current dollars (not adjusted for inflation). Per Capita Tax: A flat rate tax levied on each adult resident within the taxing district. RBC: Royal Bank of Canada Real Estate Transfer Tax: A proportional tax levied on the transfer price of real property within the taxing district. Revenue: Monies received from taxes, fees, federal and state grants, bond issues and other sources deposited into the District’s bank accounts and available as a source of funds for the District. SAWW: Statewide Average Weekly Wage per the Pennsylvania Department of Labor. Scholastic Aptitude Test (SAT) - The Scholastic Aptitude Test is a College Board examination administered annually by the District to students interested in pursuing higher education. Secondary: As defined by state practice, expenditures of a school organization composed of the grades seven (7) through twelve (12). Supplies: All items of an expendable nature which are purchased for use in the schools including supplies and books used in the operation of the schools, and fuel used to operate the buildings. Taxes: Compulsory charges levied by a governmental unit for the purpose of financing services performed for the common benefit. Tax Duplicate: This is the official list of all properties and persons taxable for the current year. Underground Storage Tank and Spill Prevention Act (UST): This is a federal program mandating registration, compliance monitoring and regulated removal by certified contractors of all underground fuel storage tanks to protect the public and the environment.