I'm going to make this full screen on. I would just like to note that the recording started after why it suggested that perhaps there be some flexibility in the revenue share of the future. Peter, you've boiled me out. I just want to get that on the record. That's the record. Let me see. Oh, take that transcript. That just excellent. The far right. That's covered. Well, covered. All right. Yeah, this is what I'm trying to do. All right. And can you see the screen now on the people online? Yes. Okay, yes. Okay. Okay, so we will have a larger presentation on Monday, but we've tried to focus it and keep it to stuff that is more relevant to the general government and the schools. We'll look at the year end, how it relates to the current year's budget and the revenue share piece, the fund balance impact, and then the uses that we're going to, we have in mind, projective uses for year end. So just at a very high level, this chart shows the first three kind of section is the revenues of total general fund revenues came in over budget by 5.3 million, which is 5% of the budget. And the bottom portion is the expenditures on the general government side, the total expenditures came in under budget by 714 of that. We're gonna propose carry forward of 107,000 for council initiatives, small ones like the 75th anniversary and things that need to happen, the TOT. So with that, the year end surplus of 5.9 million on the net impact that. I'll warn you the next side has way too many rows and column, but I'll try to make it simple. So this is a deeper dive into the revenues that top few grows marked as tax revenues, but overall that tax revenues came in 2% over budget, compared to what we have seen the bottom line after the net of permits is 5.3, which is 5% of budget, and then net of permits and investment income is 2.4%. In the tax revenues, sales taxes pretty much add budget. However, they came in 8.6% year over year. So we did budget well on that one. The meals taxes came in 10%, but almost 11% over budget, 500,000 plus. And it did 12% year over year, the TOT, the hotel tags, came in 16% over budget, and also almost about 16% year over year growth. And this is because of the two tells that we just opened the impact is in the last two months. So it's gonna be realized a lot more in 25. And then other taxes pretty much at budget. The one in here is utility taxes, and then the recordation, pretty much not as strong as what they were last year. So even the year over year, license that permits is for the development activity that's in the city is almost 600,000 over budget. And this is that the bottom line always kind of says net of permits because we haven't passed and we normally do put their balance in the permit reserve so that they can continue their major projects that are multi-year projects. Charges for services that athletic programs continues to grow and came in 10% over budget and 9% year over year growth as well. And then this one, the biggest of the pot, the 2.8 million off the 5.3 million, that is the revenue surplus that we're looking at is from investment income and we have seen exceptionally high interest rates. And we can talk about it in relation to the fiscal year 25 budget as well, but we typically budget in 24 we budgeted about a person and a half to 2%, and that's what we normally do. However, in SQA25, we increased it to 4%. And we budgeted it for more like one-time needs. And those included like the equipment for the new officers that we had, the 600,000 for the concessions then, and then the website, like one-time needs that we had, the 600,000 for the concessions, then the website, like one time needs that we had, so we used that money for what time needs. Clearly not wanting to rely. We've seen years where this was really really down, so it's good not to use it for ongoing costs. So overall, the revenues net of permits is 5% ties back to the slide we saw at 5.3 million over budget, and then the revenues net of permits is 5% ties back to the slide we saw at 5.3 million over budget. And then the revenues net of permits and investment income are 2.4% over budget, which is 2.5%. Come on. Okay. So I want to, okay. so this slide shows the local taxes and how that actual compare in fiscal year 24 compares to the budget in fiscal year 20.5 and what kind of growth we need to realize in order to meet fiscal year 25 budget. So at the overall level, thought of line, we need a 7.1% growth to meet our budget. This is ambitious, but we did budget it this way because we know there are developments and businesses that we factored in for sales, meals, business license and vehicles. So we are hopeful. I still soon to say anything. The first quarter and the second quarter, I'm not projecting to see a whole lot of impact of the developments. It's closer to the third quarter is when we're gonna see the whole food and those businesses impact on those. And that'll feed into the city managers budget. We're gonna present present a VNR. That's the, I mean, look at the number sales tax, 7% euro-year, meals tax 15%, we just did 12.2 this year, the poll 15%, we did, poll was a bit, I think, close to three-ish and other taxes is a bit much. So personal property is one of the offsets there, but overall is 70% past years. The number has been somewhere around 1 or 2% and I kind of explained the surplus. Now we're going to be trying more hard to reach a revenue projections. Moving along. So the fiscal year 2020 for fund balance, the fund balance policy, there that we are required to have a 17% of the total expenditures and the unassigned fund balance. And that would be a $20,2,275,000. And our adjusted big name fund balance is 19.3 million. So we would need $993,000 to make our fund balance policy starting from the budget that was set for 2025 and we saw an increase of six million in 2025 budget over 2024 so that requires us to make our policy whole. Is there no revenue growth in the thumb map. No interest. Well, that's some of the issues. I could show it off as an interest in the thumb map. Yeah. One way the math works, you know, between general government and schools are operating budget screw about about six million. And that 525 and 17% of six million is 993. It's kind of, it stays from the way it works. So looking at the revenue share approach that we have had in the past, along those lines, the general fund tax revenue. So we saw a percent, which is 1.89 million. The deducting what's required for the policy to be made whole the 17% on the sign fund balance would be a balance of 897,000 split between. The schools and the general government would make 449,000 share of reach of us. That's that's that's over 500,000 that I've just got in round numbers that I was referring to in my interview. All right, so just thinking about, you know, where the investment income was projected to come in at something and what was it like by, I'm going to go with something back here. All right, it's like we're going to have time fired and what was projected to be. But if the investment return were so high, we would have a shortfall in terms of like the 17% of the six million dollar growth. And so you'd be trying to either pull, like if you didn't have the surplus as large as it is or the investment returns and as high as it was, you would normally be pulling from capital reserve in order to get the policy back into alignment with the 17%. Like, you know what I mean? Like if it turned out you made it into a great investment return for it, what you projected, you'd be kind of normally taken from top over serving order to make your. So what you're seeing is that if the revenues, there wasn't a revenue surplus, the offer was much smaller. Yeah. Yeah. Okay. Yeah. So on the front end, like we're looking at it on the back end, but on the front end, when we're thinking about what's the growth going into any game of the year, we should be thinking about what's like 17% of that growth relative to what the officially are our policies 12 to 17% of the 17 game, the preferred target from staff. But we have some flexibility to do that. OK, I'm just thinking, you know what I mean? Like, that's what you said. Obviously, it's in there. But it was I am sure of what you would have been anticipated. We always at this time in New York, we always do these sort of adjustments and moving around. So this is the way it happens to work this year? I mean, there's a lot more thinking to do. If your current your actuals did not meet budget and your next year projections are super high that your 17% requires you to come up with a million. I mean, just other than that, that's a lot more thinking to do. Are those revenue projections realistic? What are we going? Oh, we can use that. realistic what we're rebelling and Can you? Mary, I have my hand up. I don't know if you can. Sorry. I'm sorry. No, it's okay. I heard it was just 17%. Is there a range? So there's the policy says there's a target of 17%. And there's a floor of 12%. So if you go below, if you're below 17%, the policy says, you need to get back to 17%, usually give yourself three fiscal years to get there. But that target is a meaningful target. And then if you go below the floor, that's kind of an emergency situation and there's sort of more extreme measures that you're calling for to get you back to the target. Do you know what the true would be? Or what the percentage would be without the $900,000 true up? There would be 60% of the same percentage. Yeah, that's 10%. So the other thing I wanted to mention was this is something about the rating agencies. This is a metrics that they look at, like how our fund balances are in comparison to the funding that we're going to need for that issuance. This is one of our strong metrics. We do have not so strong metrics because we do have more debt for capital here. This is one thing they recommend even our financial advisors that we try to stay at target and not over looked target and that's why we try to do that. Policy is going to mention is having to hit 20% of available money so that's the other policy is not just 17% one right that is high. We have to hit our total reserve number five or 12 correct. Is that sent around in the policy document? It's in the policy document. Yeah, if it's sent around, like to the group, I think we talked about circulating policies everybody. It's not a budget book. It's in the budget. Come and have me needs the bathroom. We're having another review of the new council member get elected and then we'll go through that and then read a lot of policies review and then review. Any other questions on this before Karen goes on? Okay, good. Another so now that on the general government side, 50% share is 450,000. The other general fund revenues that came in over budget 3.4 million and then this general fund on understanding net of the initiatives to 600, 7,000, which brings the total available balance, not a total available to 4.5 million, or about 4,479,000. So this in that introductory comments, we talked about 500,000 out of 5 million, there's sort of the round numbers of this. So for the general government side, there is net available 4.4 million just to be precise about the numbers. And the revenue sharing would have 449,000 for the school. And that's kind of a unicorn situation or something. You know, we've had a little bit unusual. And so that's why we've had some of the discussments just about making sure we're taking care of priorities across the board. We just had a 3.423 general fund revenue goes back to the revenues. It's mostly from interest interest interest interest. It's a subset of that. It's the whole 3.371 plus plus the underspet Indian. Exactly. So it's made sure I should make them. Thank you. So this chart is. It's requested last year. So I'd be populated and then that and this is the revenue share history over the last six years. We have this approach that we have understanding. And the last three years, including the current year, there has been balance requirement in the last step for 2020 when we saw the COVID hit. We've had a revenue share between sure, between the schools and some more between 300 to a million one. That was played out. So those last three years, you did do transfer into out of sign fund bounce, but it was to minimize compared to everything else. You didn't really notice, I guess. Well, there's one with this plus 800 thousand. Yeah, it's when the budget grew after COVID. So when the expenditures grew again from the 17% requirement rose. Projected uses for this year and funds. On the city side, we needed primarily for unfunded CIP projects and then projects that we are seeing some. I think last week or before the Mike master plan, the route to secondary campus. There's another project that has been discussed and estimates at this time of 1.7 million for that. The three projects that we are with a project of shortfall is the Greening of Lincoln. And this was brought to council last week, I think 330,000 is needed for that one to make it whole. Community center H-Baggett, again, Lionel gave an update on that, I think, among the back, and there is a gap of 200,000 there, and then intersection improvements at Anne and Dale and Salott Mayfall is short by close to 200,000. So that adds up to 4.17 million. And then we did have like, quite a mentioned discussion with the school staff and they are working on their list of priorities that they're getting to the board. And I asked on this slide, unfunded CIP projects. So we talked about greening of Lincoln and how we have to pull basically $1.3 million in appropriated like funded CIP projects from Hillwood and Anandale and Broaden Spring into the greening of Lincoln project. And so in terms of like any makeup for that, it's just you view it as an out- year meeting to fund as opposed to something here. And the council could fund those monies with local dollars if you reasonably confident that would be a successful strategy. If it doesn't pan out, then we'll have to face the consequences. I think I remember that Caitlin also mentioned those projects were going to start later anyway, just to see the spread. I'm lying to you. It's not technically a delay or play. Yeah, it wouldn't affect pretty the path. the staff report. The standing list of unmet needs is provided as attachment fee in the staff report. Not with the budget book, but these are the pressing names and. Right. Okay. Okay. Well, in the air for some time. Can we. Is it are there any more questions on this one? I have one more question. Maybe I said maybe it's a go for an anticipated one. On the sewer side of things, you would not think about moving or using, or obviously, or recommend using any of the surplus for something like purchase agreement. We're not. We do in the on the Monday night discussion, we discuss the utility funds, including the senator chair, super fun. And so we are prepared to have that discussion and sort of a continuation of the conversation we've been having. But at this point, we not running that. In the same report to the end of side. Very nice. Very nice saying they're net available. 4.479 in this year. Current list of 5.417. So like 3009,000. That's the truth. Like. Yeah, we're. Projects. It is where. We have line. We have also not received the school. Yeah, we're going to pass that. All right, so this is our next. I know that. Tade has his hand raised since I know you all can't see it. Oh, go ahead. Yeah, I appreciate that now and appreciate the walkthrough of the. The budget as always and, and appreciate this less public conversation that we're able to have. I think I want to just raise the point less about the details of the numbers and just more about the process. And again, I'm glad we can have this conversation as a working group. I think what I want to point out is the timing of how we understood the revenue sharing, specifically the amount for the schools. I think for a while now we've been operating under a very different number and assumption up until yesterday. The discussion that we've always heard has been between four and five million that would be shared and I'm not here to talk about the actual definition of what is shared. I fully understand that this is clearly spelled out in the revenue sharing agreement, but I do think that the discussions that we've all had with City Council all the way to our budget season in the late winter have been very different than the number we're seeing on the screen now. In fact, as we all recall from the, I would say, the missteps of communication around the budget season with the extra penny that was deducted and I would say the frustration that was felt by some of the school board about how that timing of how that was communicated after we already presented our budget in that discussion, in that kind of debrief and reflection, there were discussions with school board about, well, keep in mind we'll have a significant amount of revenue that we will share and we can make up for some of the lack of budget that you are expecting after you presented your budget on April 1st. And so now we're here in September and now that number is significantly different than the number that I think we all talked about. Well I know that we all talked about in April when we were all trying to figure that process out. So I think I just want to make sure that we as a group are understood of how we're managing this process as a group together as a city. I feel like we could be walking into another situation where there's a significant disconnect. And again, I'm just going to pause and say I'm not talking about the calculation. I fully understand that part of the revenue sharing agreement clearly outlines that interest made from income investment is not shared. The 479 percent is a very large percent, but that's not what we're here for. It's just more about how we got here and how we were so disconnected in that number from what we all talk with you about for the last several months. That's what I want to bring up today. Thanks, Tate. And it looks like Peter has his hand raised it well. Yeah, thanks. And thanks, Tate, for raising that. I and forgive my stripes. I should probably lower my blinds. I just wanna do two things. One is I wanna sort of double down on what Tate has said because I think it's important. We really have been operating under the assumption that we were gonna be splitting $4 million for several months now. And I don't know where that conversation went awry. I don't know where that conversation went or I, I don't know where that number came from, but I have a sense of sort of what we've been talking about very honestly. And I want to sort of tack at this slightly differently than the chair and just say, you know, this is one, we all understand, as Tate said, what the revenue share agreement says in black and white, and I am completely accepting of that. And I want to say that this is the one, the value of the revenue sharing agreement is because when we know what the revenues are and where they're coming from, we have a very smooth process in place that has not in any way brought people to council chambers with pitchforks and torches around budget time. We've had a super smooth budget and I think there's no question about that for the last four years. I think where the hiccup was in this process was where were the revenues coming from that were inputted into the actual revenue agreement. Again, totally understanding it and I'm totally accepting of it as well. This is the up and down also of the revenue sharing agreement. And I'll go back to two other circumstances where the revenue sharing agreement has worked in both a positive for the school and also for the negative in the school. And it goes back to that COVID year that was shown earlier 2020 where there was a reduction in the revenue share of 700 and whatever thousand and the schools and I believe chairdowns was the chair at the time. The schools took their portion of that cut because we agreed that as part of the revenue agreement, we should share in that cut. And then the following year, we had come to the council with our budget and it came in at guidance. And in the end, the revenues were greater than guidance. And that year, the schools got more than they had requested as part of their budget process. So we take the good with the bad. And this is one of those circumstances where, you know, it feels hard for the schools because we're only getting, you know, a tenth of the revenue that's, you know, out there and available, but we understand it and we're accepting of it and we appreciate the fact that we do have this agreement that we do get some, but this is one of those circumstances where unfortunately, as part of the revenue agreement, we came up short. And again, we accept that. But we also at the same time appreciate greatly the comments that were stated before the recording started successfully by Mr. Shields there that perhaps there might be an opportunity for the schools to tap into some of the extra revenue that the city has in their coffers. So I say all that just to say that I think this is the, this is the the ebb and the flow of this revenue sharing agreement. And I think it's a good, good process. And in this circumstance, unfortunately, the schools came up a little short and that's the way it goes and and we're good with that. It just in the end it would have been nice to know a little bit sooner about what the what the inputs into the revenue sharing agreement were so that we had a better understanding of what the actual share was going to be. So I'll just I'll leave it there and say thanks for the partnership and again again, we get it. Thanks Peter and Vladimir, so thank you for that. I think feedback is well taken. I think we all feel that going forward, how do we improve and clearly better communication, better understanding all around of how exactly the revenue share rate works. Knowing that we're gonna look at a four or five million surplus. It's a large part of it is investment revenue that we were expecting that let's start managing those expectations of a gosh, that's actually not shared. We all actually understand the right least sharing agreement. So I'm glad that we circulated the ref shared agreement against, especially for our new members. But if you think that on the bright side, we're really at a surplus with really good projects in Beston. And so I'm glad that there is an openness on staff and council's part to look at how to fund all the needs across the community, even if the initial version of what the sharing to the schools is shorter than you expected. So that's a good, going forward, thanks. All right, well, with that, let us, it's 9, 10. Let us move on to the school presentation. I think Kristen's going to do that. You're just going to use them that way too. Yeah, I think there's there's so much good news. So I'll stop sharing and Kristen, do you want to share your screen if you're able to or I can try to pull up your documents? Which would you prefer? Would you like I didn't pull it up? Would you like to pull up our document? And I would love to just go to the chart on the second page. And then from there, I'll just shift to one other chart. And Peter, did you want to say anything before I begin? No, I think I've said enough for now. I'll turn it over to you and then have a chance to talk about enrollment. Okay. And why if you could make it wider, our chart, our pages are, thank you, landscape. I truly appreciate that. So thank you for the opportunity to share false church city public schools here on financial report. Today for the budget and finance committee, I'm gonna talk about the operating fund, and I'll do it at a high level, but just so everyone watching understands, we have all of our funds included in this report. And in each case, what we do is we start out with the chart that compares the current year, what the budget was, the actuals received are expended, and the outstanding in conferences, we show what amount is available and then what percent. We follow this chart with a three-year comparison so people can look at the current year as compared to the prior two years. We include a written narrative for every area, and then at the end of the report, we actually show our budget and expenditures by object for each of the funds with the variance. So today I'm going to talk about the operating fund in terms of other revenue, which is on the first line. Our other revenue variance was 237,000. And that was higher than what we had budgeted primarily due to tuition receipts being 303,000 more than we had budgeted. And our investment income also came in 235,000. I'm higher than we had budgeted. But the excess revenue in both of those categories was offset from lower than budgeted revenue from our student activities, fees, and miscellaneous financing. And I'm kind of a positive note for all of us in our community for the first time. The revenue from our stop arm bus violations was actually $9,725 less than budgeted. That's always a revenue category for us and while that revenue is lower it is great to see that we're seeing fewer people driving around our buses when the stop arms are out. That's something we truly appreciate for student safety. And when we look at use of fun balance, this was on the next line. I just wanted to note fun balance in the FY24 budget was budgeted at 5.5 million. And of course that's substantially higher than the typical 450,000 that we include each year when we approve the budget. That increase was due to budget amendments that were approved by the school board in October and December. And included in those items were funding for bus routing software, replacement buses, one diesel one electric, turf for the baseball field and some other items. When we look at the next category, which is state revenue, our state revenue also came in 373,574 dollars higher than we budgeted. Final state aid is based on that final budget approved by the General Assembly. So sometimes depending on the timing of that budget, they make adjustments after it was adopted. And when you look at the state funding in total, our state aid was higher, but sales tax was actually lower than the revenue estimate provided by the state. So just to give people information about that, sales tax was 4.1% lower than budgeted and actually 5.6% lower than the prior year. In school divisions received sales tax revenue based on statewide sales, not locality sales. And when we look at federal revenue, we had a variance of $711,000. That variance all occurred from one time pandemic funding. So included in that is nearly 500,000 for the Henderson HVAC replacement, which was completed late last summer. We had almost 90,000 for COVID testing, and then nearly another 90,000 in other pandemic funding. And we're really pleased that we have expended all of our pandemic funding, and I really credit all of our great staff for making sure that we got that all expended within the timeframes. The next categories are general fund transfer. There was a variance there are $54,539. And that variance has to do with the actual expenditures for the positions that were funded by the general government with pandemic funding is compared to the budget. So included in there was an English for speakers of other Other Languages Teacher, a counselor and psychology services. So when we move overall when we exclude our beginning balance our revenue variance was 1,000 or 1,268,000 higher than we had budgeted. And again the majority of that variance really was that federal revenue and state are the two largest categories there. When we move to the expenditure side of our budget for FY 24, our salaries were 527 or 1.4% under budget. That variance is just a little bit higher than our variance of 1.3% in the prior year. And when we look at benefits and salaries and benefits together, make up over 85% of our budget. Benefits were also underspent by 174,000 or 1.2%. And that variance was primarily FICA and health insurance. When we look at all of our other categories on this chart, I just want to go through those at a high level. Overall, logistical expenditures were 56,000 higher than we had budgeted. But when we talk about them by category, just to go through them, our contracted services were 378,000 or 9.8% higher than budgeted. And that's primarily due to tuition. We paid to other school divisions and private schools which was 354,000 higher than we budgeted. And when we look at utilities insurance travel in rental they were 386,000 less than we budgeted and that's primarily due to lower expenditures for lease rental of equipment. And when we when we look at that you're going to see that that's offset under capital replacements. That has to do with ongoing leases such as copiers, which we had budgeted in rental, and they're expended in capital as part of our financial reporting. Materials and supplies were also slightly higher than budgeted. We had some overspending on athletic supplies and textbooks, but we had underspending and educational supplies. Then we had already talked about capital replacements. And the overspending there is due to that capitalization of all of our leases for our rental equipment. So overall when you look at incumbrances at the bottom of the screen, we had 1.2 million in incumbrances carrying over to the following year. That is lower than last year when we had 1.7. Those incumbrances include the two buses, and we're very excited that we should have the diesel bus delivered soon, and we're very grateful to have that bus. Thank the school board for both of those buses. We did get our new electric bus just by the way. From down by, we're also super excited about that. Thank you, Peter. We also have in our in-conferences, we had replaced the Bo Bogan or the communication system at the secondary campus that was also completed over the summer. We have some upgrades to our door badge system to be in the same system as the general government. And we had the software for the bus routing, which also We are incredibly excited to see that work coming along. And then lastly, just the audits and some other small items in our conferences. So that's overall the incumbrances. So why it if you would be kind enough to go to page six, there's another chart about our fund balance there. Thank you very much, I appreciate that. So this chart shows our fund balance going back to 2018. So the last six years, so I'm going to focus on 2024. When we started the fiscal year, we had five million in fund balance. That's that top number in the column to the right. Then when you look at this year's fund balance, when you look at our revenue and expenditures, we actually used fund balance of 1.4 million and then we have those outstanding conferences of 1.2 million. So that left our fund balance at the end of FY24 at 2.6 million. From there we have budgeted in FY25 our 450,000 for our beginning balance. And then the other critical component that we have budgeted is we have $364,290,000 budgeted for positions that are funded with one-time funding in FY25. So that leaves the school board with 1.6 million and one-time funding available. And then with the revenue sharing agreement that Karen had presented earlier and that additional $449,000, that brings the fund balance to $2 million that would be available for school use and then included in this report on the last page or a list of identified one-time funding needs. Let me talk about those just real quick, just to time in. We have not had a chance at this point to speak with the school board about our one-time needs. So we included in this report just the universe of those things that we have needs for that is somewhere in the neighborhood of 2.2 or 2.3 million dollars in needs. There are some bigger ticket items that we will talk about. Hang out by a second. It's a very last. 33. We're still on 14. While we're scrolling, if I make sure I understand the top line, so you all have a unbound available 1.6 million. Is that correct? Before the revenue share, yes. Before the revenue share plus four 15 revenue shares of two million available to spend is I remember I've asked this in the past and the school for numbers and I remember this better do you have a policy in what percent should be in your fund balance that primarily drive also from investment income, understanding extra revenues? Our general guideline is that two percent fund balance. And then is there also a policy and how much you're supposed to use and roll into your next operating budget? And the reason I ask is that in general, like a little cautious about using one-time money rolling into operating budgets, right? We have a standing sort of $450,000 amount that we have rolled for the last seven years of ending balance into our beginning balance in operations. This was the first time we added the 340,000 roughly into the beginning balance as one time. And that was to carry some ARPA positions that were in place for the full year because the council with the ARPA money we were able to pay for half the year, but we needed to finish it out for the full year. So that is a funding cliff for us that we recognize. We agree with you, Letti. We think it's a terrible practice to put one time money into the operating budget, but this was an anomaly coming out of the ARPA funds. Yeah, so go next to the 450. That's regardless of how big your budget is, you generally roll 450 every year into it. 100 percent%. Yes, that's correct. I guess that may be a sense of think by the percentage of your budget. That's your budget's all grow too. But anyway, thank you. So good news that we have two million also to spend on this school side. Obviously, the list being longer than two billion. Yeah, and as I said, this is a list that's a big general sort of universe list at this point. There are some big ticket items in here that we are gonna talk with the school board about in an upcoming meeting next Tuesday. But some of those things are we have a grant for two electric buses. The grant will fund half of it. We would need to come up with the other half of about $400,000. We do wanna complete the project of the concession stand at the high school. It turns out it's going to be more than we anticipated that was coming out of the school CIP portion. So that might be something that we're going to look at. We do want to do a key ask for the high school on Route 7 at some point on Broad Street. But you can see in there there are a number of things that we have on the list. But again, these have not been vetted with the school board. So to give any kind of priority to any of these would be an appropriate at this point. If you talk about the process, how do our timelines sync up with the school's timeline and discussing these things? Well, we'll be talking about these on Tuesday night and we'll likely come out with probably a top three four or five items. We plan to bring sort of what we think our priority list is, but I'm not sure what that looks like for you all and knowing that we have some money to spend. We certainly will be spending down this to two plus, or two million dollars that we have, but we'd also like to keep some of those reserved. So I think at that point, we would want to come back and maybe take the city manager up on his kind offer to potentially look at some of the savings on the general government side. I wasn't recorded so it doesn't count here. So we have a budget of medical presentation on Monday. The school board will work on theirs on Tuesday. We, we as in the council, we're not doing this on day. We're going to be here in five days. Yeah, yeah. Yeah, yeah. We have the October 21st work session as the plan to sort of do a deep dive. I'm talking about a budget amendment and then a potential first reading on October 28th and second reading on November 12th. So that gives the school board time to identify priorities. It gives us time to talk back and forth on some of and change that we want to make because we have to the end of October to work through all this. And I'll be I'll be transparent to say that there are a couple in here that I think I'll speak with the school board about that just sort of makes sense as good sort of partnership opportunities with the general government but I don't want to I don't want to do that before I talk with the school board. So our next conversation after Tuesday as I can get with why it and suggest that you know there are one or two in here that make sort of sense from a co funding perspective. That gives you time to sort of kick it around I think at the council level as well. Right. That's how reasonable that timeline I'm looking at hearing it via. I think so and we'll be talking staff to staff just in the lead up to that October 21st work session. And I should be real clear about the list that we've provided up there. The city council have no discussion about those. So those are some staff ideas, but the City Council is going to work through in a detailed way. Okay, so lots of working through and the next and sweet stuff like. All in all, it looks like there's 4.4 on the general government side and 2 million on the school side for the available for spending. And so obviously, like I said at the beginning, it's a good problem to have, I think we all prefer actionists and operating budget that's supposed to have new sometimes things. So one thing to note on the school side is that, typically they don't draw it down to zero and just spend all 2 million because they have a 450,000 that they feed into their operating budget every year. So we try not to just totally break it down to zero. But it's not too late. That of the 450 is really rolling in them. It is. But then again next year they're going to need that 452. Well, actually, let's get some clarification on the. I first ruled that over not with that and operating if it's been seven years of 450k. I think maybe a dumb question, but. Kristen, you want to answer that and then I'll just start with a big picture is you know this is our savings count essentially for projects and one time things and we would never want to draw that down to zero. But in terms of the $450,000 one time each year into the operating, Kristen, you want to talk about that? Yeah, thank you so much for that opportunity. I fully agree we wouldn't want to pull our fun balance down to absolutely nothing. But one of the things is we will carefully monitor our revenue and expenditures during this budget cycle, right? and hopefully as we're working on our projections throughout the year, we'll be able to see if we're going to achieve any excess revenue or savings during the year that could help us fund that 450,000 in the following year. Right, and that'll be part of our I'm working through the whole budget process. So just to put a perspective, there are 2% policy is a million dollars. I can't exceed 2% is the policy. I think the policy. Yeah, the policies says if we're in excessive 2% that the school board should consider funding other priorities. But that's what we're doing on Tuesday night. Any more questions on that? I'm interested in that. I want to sign fund balances against the portable budgets. That's our rate. Then higher cities rate any day fund, right? Yeah. 17% of $130 million. Inclusions. In schools also have a separate savings account ready day fund okay I built the system dish budget calendar oh no sccps enrollment yeah thank thank you chair chair connolly I'm just going to speak briefly about enrollment because I think that this is an important sort of precursor to the conversation that we're going to have in the December timeline about budget guidance. Our budget last year, as you'll recall, well, let me back up and just say how much we appreciate the partnership with the general government to have the Stephen Fuller Institute on board to supplement the work that Weldon Cooper Center does in terms of identifying what our enrollment is going to look like. The Weldon Cooper Center gives us a good high-flying overview, but the Stephen Fuller Institute does a really great job of sort of drilling down a little bit further. And so in our budget presentation last year, we did present to the school board and to the council that we anticipated growing by 100 students last year, we did present to the school board and to the council that we anticipated growing by 100 students this year based on the information that was shared with us by Weldon Cooper and also the Stephen Fuller Institute. Currently, and I say currently because our final enrollment for the state is due at the end of this month. Currently we're at 82 students over our projection, which means that we actually are seeing many, many more kids than we anticipated. I'm sorry, excuse me, we are at 82 over last year, which means that we're 18 short of what our projection was of 100 students more. In the end, that feels like it's really good, but I also want to just caution us because those projections that were done by the Stephen Fuller Institute took into account enrollment growth based on Broad and Washington founders wrote to and starting to fill some of the high school high school Project so knowing that Founders row two is not complete brought in Washington hasn't really begun to fill with any Intensity and the high school project hasn't come online yet And we're 18 short of what our projection is, gives me great consternation as we head into the fall, later fall and into the budget season. And the reason for that consternation is that we do once someone signs a contract to purchase a condominium or to rent an apartment, do work with those families to try to get them into our schools as quickly as possible for service. So when Founders Row 2 begins to fill when Broad and Washington begins to fill with some vigor and when those condos start to sell we are likely going to see more than 18 students coming to us out of those spaces. Additionally, we learned yesterday that the park and Lee project has been approved and the Oak and Lee project has been approved for some townhouses. And those are going to bring students as well. So all of that is just sort of a cautionary tale that we are 82 students. Over last year's enrollment, we calculated that we'd be 100 more students and some of those projects that we anticipated getting those 100 students from have not come online. So we'll know more, kind of like Karen has said, you know, Q1 and Q2 probably is not going to give us a lot of information, but we anticipate between now and December that we'll have more information. I do, I will also share, just as a general guideline is we are enrolling kids every day. I have a conversation this afternoon with a woman who is gonna be moving, has settled on a house, has three students. So we will be at 85 students probably tomorrow, which is then a variance of 15. So each day we are enrolling more kids. We are projecting a clarification. The slide we're looking at is that we're three below projection. We're standing that correctly. Yes. Yeah, that is correct. Go ahead and explain why, Kristen. So, the two slides that we've presented here, the first one shows school by school data. So, you can see the FY 24 data kind of in the middle of the chart, the projection for FY 25, and where our enrollment was as of 9.5. So, that's enrollment from a couple of weeks ago. So, total for all the schools, our current enrollment is at 2716. The overall projection was 2719. So that variances three students. So I used the round number of 100 and it was really 85 that we were counting on. And second, I think the other great place of partnership across the federal government and schools is the annual where students live in analysis, right? So I'd be interested in knowing that with 82 more students, how many of them are coming from, are existing neighborhoods, how many of them are coming from the three projects. And I think we all share that apprehension about, you know, gosh, as those project really fill up, what does that look like? But we do have projections on those on a building by building basis. And so I think I'd be interested in knowing how many of it actually come from those new buildings and how many come from existing neighborhoods. Because can I count on something with that for me? The projections have kind of held over time. I think that area where we make potentially under project that maybe more of a squeeze on the schools is likely going to be coming out of the T zone projects. And I think when you're talking about four-story urban townhomes, have they rented, right? In four-story urban townhomes, neighborhoods, the demographic of people living in urban townhomes when they don't have like elevators, for example, is very different than people living in two and three-story townh homes in the city right now. So I think you're actually going to see a higher student population in those projects than when the current ratios may reflect. I think on these, we have room in our schools for that. I think we welcome families to be able to access all the grade schools. I think we just need to figure out the budget. Yeah, I would just need to be able to find the budget. And they fit in the projections. If a few students kind of can be larger budget swings on the school sides. And they have helped with the projections today. Those town homes have not because they weren't there last year and when Fuller did those projections. So they'll be the future projections. Wait a time. Let me. So let me. Yeah, we do. We have ratios for every. Yeah, I'm just saying those ratios may be different because of the. Right building form of those particular town loans relative to the pre existing town loans. So on the worst students live in L. Again, that's a great partnership across the two teams. But do we have a timeline? Then when that will be available? I have a timeline. We are anticipating that. So first of all, the person that does that for us is new this year. So his name is Annith and he's really great, but he's gonna have a learning curve on this, but we hope to have it in time for our December conversation. I will say I'm not gonna get into into the T zone conversation because that's incredibly political, but we just care about kids and you're right, Ledy. We take all kids and regardless of who they are, we have space for them and we'll make space for them. I think the question that we are going to have to wrestle with is that yes, we have projections on Broad and Washington founders wrote two in the high school project, but those have yet to begin to fill really. So I think the thing that we need to be careful of and just watch very carefully is as those start to hit, what is that gonna look like in terms of our projections? Right, so set another way. The projections for this year already included those mixed use development students and were already 300 beneath the projection, but we haven't added any of those students yet. That's an exactly a much better way to say it than I said it, which also then you'll remember last year from our budget indicated that we needed to put six more teachers into our budget. And that's costly for the growth of 100 students. And then with the new collective bargaining agreement, we know what the COLA is gonna be. We know what the step is gonna be. So we have to fund a step, we have to fund a COLA, and we have to fund the teachers to meet the needs of the new growth. So I'm just previewing for you that this projection may actually be sort of low. And so we just need to be prepared for that. Are we working with Stephen Fuller again this year? Yes. Is that part of the plan? Yes. Yeah, okay, good. So that will be helpful as well. Yes, for sure. All right. So now we're at seven nine thirty five. Any other questions on enrollment? I can't see people on the screen if anyone's got your hand raised. Go right ahead. All right. Okay. So let us move on to the binding calendar, which can't put into a nice chart. I really like this chart because it helps delineate. Passively, you're the current fiscal year and dexterous year, sometimes we're doing amendments or moving things and it's hard to know exactly what you're on. So I find this really helpful to do it three different columns. I'm gonna get it up. Bye, here we go. There it is. Here we go. Good. I like to. So there really aren't any big changes on this one from last year? We eat. So right now, we're in September, we're looking at here and closing, and then we'll move into the rest of the year. We do. It's probably worth just thinking about that December 2nd joint meeting. There's not been a lot of discussion about that. That would be a traditional date. So we've put it in here, but if there's a need for a different date, we can only have that discussion, but that's when it has been in the past. Okay. And then I think this year, the general government would host and we would have dinner. And I think we would probably have it here in the lobby of City Hall. And we would then have budget guidance on that December 9th, right? Right, maybe. Okay. Okay. And we always do right. We always do right by you guys with food. So I know you'll do the same. Absolutely. And then maybe one other thing just to look at now, we have been trying to push our process out when we're in that sort of April, May timeframe. So we have a tentative date on this schedule. Peter, Kristen, why don't we circle up and just talk about that date? Make sure that that's a date that works administratively for the schools. But that would be kind of that late March, early April presentation, then a month and a half for the City Council and adoption. Oh, and the little twist that Karen and I put in there, hopefully, is that March 31st is a fifth Monday. So if we were to add a meeting on the fifth Monday to do the budget presentation, then in April, there's spring break. So we would be able to take a break in the budget process during spring break. So that is something to discuss as an announcement as well. Yeah, bring it. Next one. Yeah. So this is how we have written out that that fifth Monday March 31st from the presentation night. Yep, so that's up for discussion as well. We anticipate doing the budget for the schools in January. We had talked about potentially sliding it back, but I don't think it makes sense. It compresses our timeline too much, but we really hope that the council members will attend our budget meetings our budget presentations our budget work sessions so that you all can have a sense of where we are sort of moving through the process so you aren't surprised when when it comes around later and we appreciate it last year at the superintendents budget presentation. I believe there were three council members there. So everybody kind of knew what was what. So thank you for that. Yes, thank you. And even when you don't see us, we're watching our video catching up until you try to allow this thing. Yeah, we often have comfort from the Tuesday night. So just one last thing and that is, we still have another year of working with you on this, but I just wanted to put that out there for everyone. and look forward to many good times ahead. We're gonna stay in the city. We have a 10th grader at Meridian who will graduate in a couple of years Do you? Safe trip. Thank you. Thank you. Thanks everybody. Thank you very much. Thanks for having me. Great to meet you. you