BUTLER TECH

1
BUTLER TECH

• May 2007 Finance and Investment Report
• Presented June 19, 2007

2
Financial Report

• A. Financial Report
• BE IT RESOLVED, upon the recommendation of the
  Chief Financial Officer, the Board of Education
  approves the Financial Report for the month of
  May 2007.

3
Investment Report
4
Interest Income
Total interest income is up 145 over last year.
5
Results of Financial Activity
General Fund revenues are showing a 6.64
increase over a year ago.
6
Results of Financial Activity
Total expenditures are 3.66 less than last year.
7
Results of Financial Activity
At the 92 mark in the year, revenues and
expenditures are on target with the five-year
forecast.
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Information Item

• Information Item Sale of Notes
• The district received bids on June 15 from five
  interested companies for the sale of 2 million
  in notes as follows
• RBC Capital Markets 4.001
• 5/3 Bank 4.085
• First Financial 4.125
• US Bank 4.180
• National City Bank 4.205
• The district will close on the notes and receive
  the proceeds on June 22.

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Group Rating Program

• B. Approval of Group Rating Program
• BE IT RESOLVED, upon recommendation of the Chief
  Financial Officer, the Board of Education
  approves the continued participation in the OASBO
  Workers Compensation Group Rating Program for
  the 2008 year.
• Savings by calendar year
• 2005 89,058
• 2006 94,125
• 2007 97,335
• 2008 73,614
• 2008 Premium without group program 230,898
• 2007 Premium with group program 157,284

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Appropriation Modifications

• C. Approval of Year-End Appropriation
  Modifications
• BE IT RESOLVED, upon recommendation of the Chief
  Financial Officer, the Board of Education
  authorizes the CFO make the required year-end
  appropriation adjustments to close the accounts
  for the 2007 fiscal year in accordance with
  requirements of the Ohio Auditor of State.

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Year-End Transfers and Advances

• D. Approval of Year-End Transfers and Advances
• BE IT RESOLVED, upon recommendation of the Chief
  Financial Officer, the Board of Education
  approves the transfers and advances necessary to
  close the 2007 fiscal year in accordance with
  requirements of the Ohio Auditor of State.

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FY08 Temporary Budget

• E. Approval of 2007-08 Temporary Operating Budget
  
• BE IT RESOLVED, upon recommendation of the Chief
  Financial Officer, the Board of Education
  approves the Temporary Operating Budget for all
  funds for the 2007-08 fiscal year as submitted.
• The FY08 Temporary Operating Budget of the
  district totals 54.3 million and is included
  with the monthly report.