Actual Revenues, Expenditures and Balances 2017-2018 39 Special Capital Subtotal Debt Subtotal General Revenue Projects Operating Service District Business-Type Grand Fund Fund Fund Funds Fund Funds Activities Total Tax Rate 0.9350 $2.2278 $0.1050 $3.2678 $0.6230 $3.8908 $3.8908 Balance 7/01/17 $7,187,845 $10,327,038 $2,037,305 $19,552,188 $4,275,070 $23,827,258 - $23,827,258 Local Tax Revenues Delinquent Tax Collections ($173,733) ($413,948) ($19,513) ($607,194) ($115,759) ($722,953) ($722,953) Current Tax Collections $10,525,831 $25,079,607 $1,182,191 $36,787,629 $7,013,423 $43,801,052 $43,801,052 $10,352,098 $24,665,659 $1,162,678 $36,180,435 $6,897,664 $43,078,099 - $43,078,099 Other Sources $6,208,294 $7,167,210 $222,448 $13,597,952 $8,581,649 $22,179,601 $1,076,110 $23,255,711 Total Revenues $16,560,392 $31,832,869 $1,385,126 $49,778,387 $15,479,313 $65,257,700 $1,076,110 $66,333,810 ` Expenditures $18,555,083 $31,613,017 $1,716,910 $51,885,010 $15,122,048 $67,007,058 $910,006 $67,917,064 Excess (Deficit) Revenues Over Expenditures ($1,994,691) $219,852 ($331,784) ($2,106,623) $357,265 ($1,749,358) $166,104 ($1,583,254) Other Financing Sources (Uses) Refunded Bond Proceeds $27,003,390 $27,003,390 $27,003,390 General Obligation Bond Expenditures ($7,172,865) ($7,172,865) ($7,172,865) Sale of Maryland School $4,058,942 $4,058,942 $4,058,942 $4,058,942 Transfers In $311,425 $311,425 $311,425 $311,425 Transfers Out ($145,321) ($145,321) ($145,321) ($166,104) ($311,425) Excess (Deficit) Revenues and Other Financing Sources over Expenditures and Other Financing (Uses) ($1,683,266) $74,531 $3,727,158 $2,118,423 $20,187,790 $22,306,213 $0 $22,306,213 Actual Balance 6/30/18 $5,504,579 $10,401,569 $5,764,463 $21,670,611 $24,462,860 $46,133,471 - $46,133,471 SCHOOL DISTRICT OF CLAYTON ACTUAL REVENUES, EXPENDITURES AND BALANCES TO JUNE 30, 2018 40 Estimated Revenues, Expenditures and Balances 2018-2019 41

Estimated Revenues, Expenditures and Balances 2018-2019 41 Special Capital Subtotal Debt Subtotal General Revenue Projects Operating Service District Business-Type Grand Fund Fund Fund Funds Fund Funds Activities Total Tax Rate 1.0550 $2.0770 $0.1100 $3.2420 $0.6230 $3.8650 $3.8650 Balance 7/01/18 $5,504,579 $10,401,569 $5,764,463 $21,670,611 $24,462,860 $46,133,471 - $46,133,471 Local Tax Revenues Delinquent Tax Collections ($245,670) ($483,650) ($25,610) ($754,930) ($145,070) ($900,000) ($900,000) Current Tax Collections $10,988,250 $21,632,810 $1,145,700 $33,766,760 $6,488,800 $40,255,560 $40,255,560 $10,742,580 $21,149,160 $1,120,090 $33,011,830 $6,343,730 $39,355,560 - $39,355,560 Other Sources $6,102,280 $6,039,820 $317,200 $12,459,300 $1,746,300 $14,205,600 $1,121,270 $15,326,870 Total Revenues $16,844,860 $27,188,980 $1,437,290 $45,471,130 $8,090,030 $53,561,160 $1,121,270 $54,682,430 Expenditures $19,438,270 $33,020,600 $1,515,080 $53,973,950 $8,804,540 $62,778,490 $999,140 $63,777,630 Excess (Deficit) Revenues Over Expenditures ($2,593,410) ($5,831,620) ($77,790) ($8,502,820) ($714,510) ($9,217,330) $122,130 ($9,095,200) Other Financing Sources (Uses) General Obligation Bond Expenditures ($19,280,000) ($19,280,000) ($19,280,000) Transfers In $196,790 $196,790 $196,790 $196,790 Transfers Out ($71,860) ($2,800) ($74,660) ($74,660) ($122,130) ($196,790) Excess (Deficit) Revenues and Other Financing Sources over Expenditures and Other Financing (Uses) ($2,396,620) ($5,903,480) ($80,590) ($8,380,690) ($19,994,510) ($28,375,200) $0 ($28,375,200) Estimated Balance 6/30/19 $3,107,959 $4,498,089 $5,683,873 $13,289,921 $4,468,350 $17,758,271 - $17,758,271 SCHOOL DISTRICT OF CLAYTON ESTIMATED REVENUES, EXPENDITURES AND BALANCES TO JUNE 30, 2019 42 Budgeted Revenues, Expenditures And Balances 2019-2020 43

Budgeted Revenues, Expenditures And Balances 2019-2020 43 Special Capital Subtotal Debt Subtotal General Revenue Projects Operating Service District Business-Type Grand Fund Fund Fund Funds Fund Funds Activities Total Estimated Balance 7/01/19 $3,107,959 $4,498,089 $5,683,873 $13,289,921 $4,468,350 $17,758,271 - $17,758,271 Local Tax Revenues Delinquent Tax Collections ($224,230) ($499,590) ($39,490) ($763,310) ($136,690) ($900,000) ($900,000) Current Tax Collections $13,874,980 $30,913,270 $2,443,740 $47,231,990 $8,458,050 $55,690,040 $55,690,040 $13,650,750 $30,413,680 $2,404,250 $46,468,680 $8,321,360 $54,790,040 - $54,790,040 Other Sources $6,211,200 $5,757,260 $207,870 $12,176,330 $1,034,180 $13,210,510 $1,156,000 $14,366,510 Total Revenues $19,861,950 $36,170,940 $2,612,120 $58,645,010 $9,355,540 $68,000,550 $1,156,000 $69,156,550 Expenditures $19,931,400 $33,679,700 $2,154,820 $55,765,920 $7,829,650 $63,595,570 $1,006,420 $64,601,990 Excess (Deficit) Revenues Over Expenditures ($69,450) $2,491,240 $457,300 $2,879,090 $1,525,890 $4,404,980 $149,580 $4,554,560 Other Financing Sources (Uses) Transfers In $215,270 $215,270 $215,270 $215,270 Transfers Out ($64,190) ($1,500) ($65,690) ($65,690) ($149,580) ($215,270) ExFinancing Sources over Expenditures and Other Financing (Uses) $145,820 $2,427,050 $455,800 $3,028,670 $1,525,890 $4,554,560 - $4,554,560 Budgeted Balance 6/30/20 $3,253,779 $6,925,139 $6,139,673 $16,318,591 $5,994,240 $22,312,831 - $22,312,831 SCHOOL DISTRICT OF CLAYTON BUDGETED REVENUES, EXPENDITURES AND BALANCES TO JUNE 30, 2020 44 2019-2020 Revenue Budget and Four-Year Comparison 45

2019-2020 Revenue Budget and Four-Year Comparison 45 Actual Actual Estimated Budgeted Revenues Revenues Revenues Revenues Prior Year Percent Purpose 2016-2017 2017-2018 2018-2019 2019-2020 Comparison Change Assessed Valuation Real Estate - Residential $521,342,960 $580,225,380 $596,046,990 Real Estate - Commercial $416,736,840 $471,052,050 $95,238,870 Personal Property $97,710,510 $100,774,330 $459,447,630 ---------------------- ---------------------- ---------------------- TOTALS $1,035,790,310 $1,152,051,760 $1,150,733,490 Tax Rate per $100 (Blended) $4.0643 $3.8908 $3.8655 $0.01 = Current Receipts $100,949 $112,576 $104,141 Tax Revenue - Current Real Estate $37,271,309 $40,183,057 $36,366,950 $51,258,780 Personal Property $3,757,303 $3,617,995 $3,888,610 $4,431,260 ---------------------- ---------------------- ---------------------- ---------------------- ---------------------- ----------------- TOTAL - NET REVENUE $41,028,612 $43,801,052 $40,255,560 $55,690,040 $15,434,480 38.34% Collection Rate 97.46% 97.72% 90.50% Plus Reassessment Fee $16,411 $17,520 $16,102 $22,276 Plus Collection Fee $410,286 $438,011 $402,556 $556,900 Plus Proposition C Fee $20,514 $21,901 $20,128 $27,845 Taxes Protested - and/or Not Collected $621,802 $545,546 $3,787,257 $821,070 ---------------------- ---------------------- ---------------------- ---------------------- TOTAL - 100% COLLECTION $42,097,626 $44,824,030 $44,481,603 $57,118,131 ---------------------- ---------------------- ---------------------- ---------------------- Tax Revenue - Delinquent Real Estate ($918,181) ($881,594) ($1,000,000) ($1,000,000) Personal Property $91,837 $158,641 $100,000 $100,000 Local Rail Road & Utility ---------------------- ---------------------- ---------------------- ---------------------- ---------------------- ----------------- TOTALS-DELINQUENT TAXES ($826,344) ($722,953) ($900,000) ($900,000) $0 0.00% ---------------------- ---------------------- ---------------------- ---------------------- ---------------------- ----------------- TOTAL - CURRENT & DELINQUENT $40,202,268 $43,078,099 $39,355,560 $54,790,040 $15,434,480 39.22% ============ ============ ============ ============ ============ ========== Local Revenue Proposition C $2,110,983 $2,176,422 $2,117,000 $2,159,340 $42,340 2.00% Financial Institution Tax $1,325,136 $1,192,521 $459,600 $470,140 $10,540 2.29% PILOT $42,735 $0 Tuition $617,677 $437,742 $489,500 $464,850 ($24,650) -5.04% Investment Gain $106,151 $260,590 $700,000 $425,000 ($275,000) -39.29% Cafeteria Receipts $701,555 $724,613 $680,000 $680,000 $0 0.00% Catering/Miscellaneous $26,171 $32,327 $35,000 $30,500 ($4,500) -12.86% Breakfast Program $34,700 $34,393 $35,000 $35,000 $0 0.00% Student Organizations $129,529 $137,222 $210,000 $210,000 $0 0.00% Student Clearing $819,608 $812,410 $755,000 $755,000 $0 0.00% Fines, Fees, & Refunds $19,151 $13,527 $14,000 $14,000 $0 0.00% Other Miscellaneous Revenues $142,638 $125,507 $202,820 $150,000 ($52,820) -26.04% Facility Use $73,128 $88,692 $95,000 $97,000 $2,000 2.11% Center of Clayton $995,367 $895,244 $950,000 $950,000 $0 0.00% School Age Child Care Fees $400,158 $449,414 $470,000 $500,000 $30,000 6.38% Surcharge Tax $1,008,450 $1,133,469 $1,100,000 $1,100,000 $0 0.00% Surcharge Tax-Delinquent ($59,229) ($65,691) ($45,000) ($65,000) ($20,000) 44.44% Family Center Fees $743,045 $813,688 $825,000 $835,000 $10,000 1.21% Community Service/Summer Programs $531,374 $538,004 $556,270 $559,000 $2,730 0.49% Summer School $1,638 $2,630 $2,700 $70 2.66% VT Tuition $1,868,892 $1,710,403 $1,495,570 $1,386,920 ($108,650) -7.26% ---------------------- ---------------------- ---------------------- ---------------------- ---------------------- ----------------- TOTAL - LOCAL REVENUE $11,596,122 $11,553,232 $11,147,390 $10,759,450 ($387,940) -3.48% ---------------------- ---------------------- ---------------------- ---------------------- ---------------------- ----------------- School District of Clayton 2019-2020 Revenue Budget 46

Actual Actual Estimated Budgeted Revenues Revenues Revenues Revenues Prior Year Percent Purpose 2016-2017 2017-2018 2018-2019 2019-2020 Comparison Change Assessed Valuation Real Estate - Residential $521,342,960 $580,225,380 $596,046,990 Real Estate - Commercial $416,736,840 $471,052,050 $95,238,870 Personal Property $97,710,510 $100,774,330 $459,447,630 ---------------------- ---------------------- ---------------------- TOTALS $1,035,790,310 $1,152,051,760 $1,150,733,490 Tax Rate per $100 (Blended) $4.0643 $3.8908 $3.8655 $0.01 = Current Receipts $100,949 $112,576 $104,141 Tax Revenue - Current Real Estate $37,271,309 $40,183,057 $36,366,950 $51,258,780 Personal Property $3,757,303 $3,617,995 $3,888,610 $4,431,260 ---------------------- ---------------------- ---------------------- ---------------------- ---------------------- ----------------- TOTAL - NET REVENUE $41,028,612 $43,801,052 $40,255,560 $55,690,040 $15,434,480 38.34% Collection Rate 97.46% 97.72% 90.50% Plus Reassessment Fee $16,411 $17,520 $16,102 $22,276 Plus Collection Fee $410,286 $438,011 $402,556 $556,900 Plus Proposition C Fee $20,514 $21,901 $20,128 $27,845 Taxes Protested - and/or Not Collected $621,802 $545,546 $3,787,257 $821,070 ---------------------- ---------------------- ---------------------- ---------------------- TOTAL - 100% COLLECTION $42,097,626 $44,824,030 $44,481,603 $57,118,131 ---------------------- ---------------------- ---------------------- ---------------------- Tax Revenue - Delinquent Real Estate ($918,181) ($881,594) ($1,000,000) ($1,000,000) Personal Property $91,837 $158,641 $100,000 $100,000 Local Rail Road & Utility ---------------------- ---------------------- ---------------------- ---------------------- ---------------------- ----------------- TOTALS-DELINQUENT TAXES ($826,344) ($722,953) ($900,000) ($900,000) $0 0.00% ---------------------- ---------------------- ---------------------- ---------------------- ---------------------- ----------------- TOTAL - CURRENT & DELINQUENT $40,202,268 $43,078,099 $39,355,560 $54,790,040 $15,434,480 39.22% ============ ============ ============ ============ ============ ========== Local Revenue Proposition C $2,110,983 $2,176,422 $2,117,000 $2,159,340 $42,340 2.00% Financial Institution Tax $1,325,136 $1,192,521 $459,600 $470,140 $10,540 2.29% PILOT $42,735 $0 Tuition $617,677 $437,742 $489,500 $464,850 ($24,650) -5.04% Investment Gain $106,151 $260,590 $700,000 $425,000 ($275,000) -39.29% Cafeteria Receipts $701,555 $724,613 $680,000 $680,000 $0 0.00% Catering/Miscellaneous $26,171 $32,327 $35,000 $30,500 ($4,500) -12.86% Breakfast Program $34,700 $34,393 $35,000 $35,000 $0 0.00% Student Organizations $129,529 $137,222 $210,000 $210,000 $0 0.00% Student Clearing $819,608 $812,410 $755,000 $755,000 $0 0.00% Fines, Fees, & Refunds $19,151 $13,527 $14,000 $14,000 $0 0.00% Other Miscellaneous Revenues $142,638 $125,507 $202,820 $150,000 ($52,820) -26.04% Facility Use $73,128 $88,692 $95,000 $97,000 $2,000 2.11% Center of Clayton $995,367 $895,244 $950,000 $950,000 $0 0.00% School Age Child Care Fees $400,158 $449,414 $470,000 $500,000 $30,000 6.38% Surcharge Tax $1,008,450 $1,133,469 $1,100,000 $1,100,000 $0 0.00% Surcharge Tax-Delinquent ($59,229) ($65,691) ($45,000) ($65,000) ($20,000) 44.44% Family Center Fees $743,045 $813,688 $825,000 $835,000 $10,000 1.21% Community Service/Summer Programs $531,374 $538,004 $556,270 $559,000 $2,730 0.49% Summer School $1,638 $2,630 $2,700 $70 2.66% VT Tuition $1,868,892 $1,710,403 $1,495,570 $1,386,920 ($108,650) -7.26% ---------------------- ---------------------- ---------------------- ---------------------- ---------------------- ----------------- TOTAL - LOCAL REVENUE $11,596,122 $11,553,232 $11,147,390 $10,759,450 ($387,940) -3.48% ---------------------- ---------------------- ---------------------- ---------------------- ---------------------- ----------------- School District of Clayton 2019-2020 Revenue Budget 46 Actual Actual Estimated Budgeted Revenues Revenues Revenues Revenues Prior Year Percent Purpose 2016-2017 2017-2018 2018-2019 2019-2020 Comparison Change School District of Clayton 2019-2020 Revenue Budget County Revenue Fines, Forfeitures, etc. $25,579 $22,286 $20,700 $22,000 $1,300 6.28% Rail Road & Utilities $511,206 $537,015 $500,000 $510,000 $10,000 2.00% ---------------------- ---------------------- ---------------------- ---------------------- ---------------------- ----------------- TOTAL - COUNTY REVENUE $536,785 $559,301 $520,700 $532,000 $11,300 2.17% ---------------------- ---------------------- ---------------------- ---------------------- ---------------------- ----------------- State Revenue Basic Formula $283,995 $249,885 $250,000 $250,000 $0 0.00% Classroom Trust Fund $865,861 $907,621 $885,000 $885,000 $0 0.00% Food Service $5,532 $6,378 $5,400 $5,400 $0 0.00% ECDA-SB 658 $63,820 $64,191 $60,000 $60,000 $0 0.00% Early Childhood Special Education-PL 94-142 $504,013 $499,163 $432,550 $432,550 $0 0.00% Vocational Aid $17,799 $2,200 $1,900 $1,100 ($800) -42.11% ---------------------- ---------------------- ---------------------- ---------------------- ---------------------- ----------------- TOTAL - STATE REVENUE $1,741,020 $1,729,438 $1,634,850 $1,634,050 ($800) -0.05% ---------------------- ---------------------- ---------------------- ---------------------- ---------------------- ----------------- Federal Revenue School Lunch $181,311 $192,133 $180,000 $180,000 $0 0.00% Breakfast Program $37,195 $34,619 $36,000 $36,000 $0 0.00% Early Childhood Special Education-PL 94-142 $60,304 $54,320 $11,100 $11,100 $0 0.00% Title I $192,524 $140,034 $166,350 $166,350 $0 0.00% Title II $39,040 $41,500 $39,300 $39,300 $0 0.00% Title III $10,615 $7,118 $10,650 $10,650 $0 0.00% Title IV $0 $0 $18,810 $18,810 $0 0.00% Interest Subsidy $1,157,481 $1,147,559 $1,136,300 $784,180 ($352,120) -30.99% Other Federal $5,982 $5,262 $6,000 $0 ($6,000) -100.00% ---------------------- ---------------------- ---------------------- ---------------------- ---------------------- ----------------- TOTAL - FEDERAL REVENUE $1,684,452 $1,622,545 $1,604,510 $1,246,390 ($358,120) -22.32% ---------------------- ---------------------- ---------------------- ---------------------- ---------------------- ----------------- Other Revenue Property Sales $24,630 $4,128,378 $94,000 $25,000 ($69,000) -73.40% Tuition - Other Districts $838,506 $540,472 $320,000 $165,620 ($154,380) -48.24% Premium on Bonds Sold $0 $3,538,393 $0 $0 $0 #DIV/0! Refunding Bonds $0 $23,465,000 $0 $0 $0 #DIV/0! Other Receipts $6,099 $8,420 $5,420 $4,000 ($1,420) -26.20% ---------------------- ---------------------- ---------------------- ---------------------- ---------------------- ----------------- TOTAL - OTHER REVENUE $869,235 $31,680,663 $419,420 $194,620 ($224,800) -53.60% ---------------------- ---------------------- ---------------------- ---------------------- ---------------------- ----------------- TOTAL - OTHER SOURCES $16,427,614 $47,145,179 $15,326,870 $14,366,510 ($960,360) -6.27% ============ ============ ============ ============ ============ ========== GRAND TOTAL - ALL REVENUE $56,629,882 $90,223,278 $54,682,430 $69,156,550 $14,474,120 26.47% ============ ============ ============ ============ ============ ========== 47