The District’s Chief Financial Officer carefully monitors projected increases in assessed valuation, the rate of tax collection, and political actions that may have an impact upon the District’s financial future. • Second, in building the budget, the Board sets aside contingency monies in each of the three operational funds: Special Revenue, General, and Capital Projects. (As stated earlier, the Debt Service Fund is predictable.) For example, the District could experience unpredicted increases in enrollment that would make it necessary to hire additional teaching staff and purchase additional instructional supplies. Contingency money could be used to meet these unanticipated expenditures. 39 • Third, fund balances—money from each fund not spent during a budget year—is placed in a reserve fund. The Board may draw upon this fund—just as a citizen will draw upon a savings account—if the need arises. Because this revenue has been collected through a voter-approved tax levy or represents other revenue, such as interest income derived from invested tax revenue, no additional vote of the people need be taken in order to use it. For Clayton, fund balances serve another important purpose. Since the District receives most of its tax revenue in late December and early January, but the fiscal year ends June 30, money must be set aside in the reserve fund to meet District expenses—such as payroll—from July through December. Experience has shown that a minimum fund balance of 18 percent of the expenditure budget must be maintained to prevent the necessity of borrowing money to meet District expenses during the fall months. Historical revenues, expenses and fund balance from the last tax levy (2003) and projected for the next five years are presented below. 40

Experience has shown that a minimum fund balance of 18 percent of the expenditure budget must be maintained to prevent the necessity of borrowing money to meet District expenses during the fall months. Historical revenues, expenses and fund balance from the last tax levy (2003) and projected for the next five years are presented below. 40 REPORTING Every district within the state of Missouri is required to file a yearly financial summary report with DESE by August 15 of each year entitled the Annual Secretary of the Board Report (ASBR). The District submits this report for all governmental funds on the cash basis of accounting, which is a comprehensive basis of accounting other than generally accepted accounting principles (GAAP). The cash basis is used to enable the District to more accurately compare itself to other districts since the majority of the districts within the state of Missouri report on the cash basis of accounting. In accordance with RSMo 165.121 and Board Policy DIE, every district within the state of Missouri is required to file audited financial statements with DESE by December 31 of each year. The auditor’s management letter and a copy of the Board minutes indicating approval of the audit report must also be submitted to DESE. The District’s audited financial statements are prepared and audited in accordance with GAAP. 41 FINANCIAL SECTION 42 Actual Revenues, Expenditures and Balances 2019-2020 43

Actual 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 Tax Rate 1.2732 $2.5030 $0.1000 $3.8762 $0.6230 $4.4992 $4.4992 Balance 7/01/19 $4,975,133 $7,348,899 $5,457,466 $17,781,498 $4,979,156 $22,760,654 - $22,760,654 Local Tax Revenues Delinquent Tax Collections $179,792 $353,460 $14,124 $547,376 $87,978 $635,354 $635,354 Current Tax Collections $16,379,467 $32,200,950 $1,286,718 $49,867,135 $8,014,929 $57,882,064 $57,882,064 $16,559,259 $32,554,410 $1,300,842 $50,414,511 $8,102,907 $58,517,418 - $58,517,418 Other Sources $6,022,517 $6,547,752 $1,979,840 $14,550,109 $1,210,256 $15,760,365 $430,987 $16,191,352 Total Revenues $22,581,776 $39,102,162 $3,280,682 $64,964,620 $9,313,163 $74,277,783 $430,987 $74,708,770 Expenditures $18,053,213 $32,754,696 $4,078,860 $54,886,769 $8,038,496 $62,925,265 $744,194 $63,669,459 Excess (Deficit) Revenues Over Expenditures $4,528,563 $6,347,466 ($798,178) $10,077,851 $1,274,667 $11,352,518 ($313,207) $11,039,311 Other Financing Sources (Uses) Refunded Bond Proceeds $32,816,862 $32,816,862 $32,816,862 General Obligation Bond Expenditures ($32,724,893) ($32,724,893) ($32,724,893) Transfers In $937 $2,512 $3,449 $3,449 ($3,449) $0 Transfers Out ($316,656) ($316,656) ($316,656) $316,656 $0 Excess (Deficit) Revenues and Other Financing Sources over Expenditures and Other Financing (Uses) $4,211,907 $6,348,403 ($795,666) $9,764,644 $1,366,636 $11,131,280 - $11,131,280 Actual Balance 6/30/20 $9,187,040 $13,697,302 $4,661,800 $27,546,142 $6,345,792 $33,891,934 - $33,891,934 SCHOOL DISTRICT OF CLAYTON ACTUAL REVENUES, EXPENDITURES AND BALANCES TO JUNE 30, 2020 44 Estimated Revenues, Expenditures and Balances 2020-2021 45

Estimated Revenues, Expenditures and Balances 2020-2021 45 Special Capital Subtotal Debt Subtotal General Revenue Projects Operating Service District Business-Type Grand Fund Fund Fund Funds Fund Funds Activities Total Tax Rate 1.2499 $2.3530 $0.1875 $3.7904 $0.6230 $4.4134 $4.4134 Balance 7/01/20 $9,187,040 $13,697,302 $4,661,800 $27,546,142 $6,345,792 $33,891,934 - $33,891,934 Local Tax Revenues Delinquent Tax Collections ($177,780) ($334,660) ($25,960) ($538,400) ($88,600) ($627,000) ($627,000) Current Tax Collections $16,236,350 $30,566,360 $2,435,700 $49,238,410 $8,093,000 $57,331,410 $57,331,410 $16,058,570 $30,231,700 $2,409,740 $48,700,010 $8,004,400 $56,704,410 - $56,704,410 Other Sources $4,749,930 $4,441,310 $1,436,520 $10,627,760 $402,970 $11,030,730 $211,700 $11,242,430 Total Revenues $20,808,500 $34,673,010 $3,846,260 $59,327,770 $8,407,370 $67,735,140 $211,700 $67,946,840 Expenditures $20,310,630 $34,451,760 $2,313,230 $57,075,620 $8,977,790 $66,053,410 $321,550 $66,374,960 Excess (Deficit) Revenues Over Expenditures $497,870 $221,250 $1,533,030 $2,252,150 ($570,420) $1,681,730 ($109,850) $1,571,880 Other Financing Sources (Uses) COVID Grant Revenue $143,830 $373,580 $280,170 $797,580 $797,580 $797,580 COVID Grant Expenditures ($143,830) ($373,580) ($280,170) ($797,580) ($797,580) ($797,580) Center of Clayton Operating Loss ($200,000) ($200,000) ($200,000) ($200,000) Transfers Out ($73,880) ($11,970) ($24,000) ($109,850) ($109,850) $109,850 $0 Excess (Deficit) Revenues and Other Financing Sources over Expenditures and Other Financing (Uses) $223,990 $209,280 $1,509,030 $1,942,300 ($570,420) $1,371,880 - $1,371,880 Estimated Balance 6/30/21 $9,411,030 $13,906,582 $6,170,830 $29,488,442 $5,775,372 $35,263,814 - $35,263,814 SCHOOL DISTRICT OF CLAYTON ESTIMATED REVENUES, EXPENDITURES AND BALANCES TO JUNE 30, 2021 46 Budgeted Revenues, Expenditures And Balances 2021-2022 47

Budgeted Revenues, Expenditures And Balances 2021-2022 47 Special Capital Subtotal Debt Subtotal General Revenue Projects Operating Service District Business-Type Grand Fund Fund Fund Funds Fund Funds Activities Total Estimated Balance 7/01/21 $9,371,030 $13,946,582 $6,170,830 $29,488,442 $5,775,372 $35,263,814 - $35,263,814 Local Tax Revenues Delinquent Tax Collections ($181,040) ($316,410) ($37,100) ($534,550) ($92,450) ($627,000) ($627,000) Current Tax Collections $16,914,940 $29,563,700 $3,466,500 $49,945,140 $8,638,520 $58,583,660 $58,583,660 $16,733,900 $29,247,290 $3,429,400 $49,410,590 $8,546,070 $57,956,660 - $57,956,660 Other Sources $5,930,320 $5,554,480 $178,560 $11,663,360 $375,330 $12,038,690 $451,450 $12,490,140 Total Revenues $22,664,220 $34,801,770 $3,607,960 $61,073,950 $8,921,400 $69,995,350 $451,450 $70,446,800 Expenditures $20,788,540 $35,361,730 $2,410,130 $58,560,400 $8,546,030 $67,106,430 $695,990 $67,802,420 Excess (Deficit) Revenues Over Expenditures $1,875,680 ($559,960) $1,197,830 $2,513,550 $375,370 $2,888,920 ($244,540) $2,644,380 Other Financing Sources (Uses) COVID Grant Revenue $187,440 $71,030 $258,470 $258,470 $258,470 COVID Grant Expenditures ($187,440) ($71,030) ($258,470) ($258,470) ($258,470) Center of Clayton Operating Loss ($400,000) ($400,000) ($400,000) ($400,000) Business-Type Activities Transfers Out ($241,060) ($3,480) ($244,540) ($244,540) $244,540 $0 Excess (Deficit) Revenues and Other Financing Sources over Expenditures and Other Financing (Uses) $1,234,620 ($563,440) $1,197,830 $1,869,010 $375,370 $2,244,380 $0 $2,244,380 Budgeted Balance 6/30/22 $10,605,650 $13,383,142 $7,368,660 $31,757,452 $6,150,742 $37,908,194 - $37,508,194 SCHOOL DISTRICT OF CLAYTON BUDGETED REVENUES, EXPENDITURES AND BALANCES TO JUNE 30, 2022 48 2021-2022 Revenue Budget and Four-Year Comparison 49