DISTRICT CODE: 070600 STATE AID 2004-05 DISTRICT NAME: ELMIRA DATE: AUG 23, 2008 EDITION NO. 2770 DISTRICT LAST UPDATED ON 08/22/08 NOTE: DATA DISPLAYED IS TENTATIVE PENDING AUDIT SPECIAL STATE AID FOR SMALL CITY SCH DISTS OUTPUT REPORT (SMC) PAGE 1 PART I: CALCULATION OF SELECTED OPERATING BUDGET ________________________________________________ 1 2003-04 SPEC AID PAYABLE UNDER SUB 31A 336,322 2 2003-04 ADJUSTED TGFE (ST3, AT9999.0) 82,067,072 3 STATE SHARE RATIO (ENT 1 / ENT 2) 0.0040 4 MAXIMUM OPERATING BUDGET (1.0874 * ENT 2) 89,239,734 5 2004-05 GRAND TOTAL GENERAL FUND EXPS AND INTERFUND TRANSFERS (ST3,AT9999.0 EST) 88,519,442 6 SEL OPERATING BUDGET ( < ENT 4 OR ENT 5) 88,519,442 PART II: CALCULATION OF PRELIMINARY FORMULA AID ________________________________________________ 7 2003-04 REVS ST SOURCES NOT SPEC AID FOR SM CITY DISTS (ST-3, AT3999 - A3261) 54,969,454 8 2004-05 BUDGETED REVS ST SOURCES NOT AID FOR SM CITY DISTS (ST-3, AT3999 EST - A3261 EST) 56,719,231 9 DEDUCTION FOR STATE AID INCREASES (ENT 8 - ENT 7, MIN 0) 1,749,777 10 ADJ SEL OPERATING BUDGET (ENT 6 - ENT 9, MIN 0) 86,769,665 11 PRELIMINARY FORMULA AID (ENT 3 * ENT 10,RND) 347,079 PART III: CALCULATION OF MILLAGE DEDUCTION __________________________________________ 12 2001 ACTUAL VAL / 1000 1,157,699.835 13 2003-04 TOT PROP TAX LEVY ALL PURPS (ST3,81-14) 23,724,016 14 2003-04 TOT NONPROPERTY TAX REVENUES (ST3,AT1199) 0 15 TOT PROP & NONPROP TAXES (ENT 13 + ENT 14) 23,724,016 16 03-04 PROPERTY TAX LEVY FOR LIBRARY (ST3,81-08) 0 17 DEBT SERVICE FOR LIBRARY - GEN FUND (CALC #179) 0 18 DEBT SRV FOR LIBRARY - DEBT SRV FUND (CALC #180) 0 19 TOT DEBT SERV - PUB LIB (ENT 17 + ENT 18) 0 20 OTHER EXPENSES FOR PUBLIC LIBRARY (FORM F #150) 0 21 TOTAL AVAILABLE UNRES FUND BAL AS OF 06/30/04 (ST3,AT091) 6,024,790 22 ALLOWABLE 6% FUND BALANCE (ENT 2 * .06) 4,924,024 23 EXCESS FUND BALANCE (ENT 21 - ENT 22,MIN 0) 1,100,766 24 TOT DEDUCTIBLES FROM TAXES (SUM OF ENTS 16, 19, 20 & 23) 1,100,766 25 NET TAXES (ENT 15 - ENT 24, MIN 0) 22,623,250 26 TAX RATE PER $1000 FV (ENT 25 / ENT 12) 19.54 27 MILLAGE DEDUCT MULTIPLIER (19.15 / ENT 26) 0.94114 28 FULL VALUE MILLEAGE DEDUCTION (ENT 12 * ENT 27 * $0.40) 435,823 PART IV: CALCULATION OF AID PAYABLE FOR 2004-05 _______________________________________________ 29 FORMULA AID UNDER SUB 31A (ENT 11 - ENT 28, MIN 0) 0 30 SAVE HARMLESS PERCENT 0.82 31 SAVE HARMLESS AMOUNT (ENT 1 * ENT 30,RND) 275,785 32 GREATER OF FORMULA OR SAVE HARMLESS ( > ENT 29 OR ENT 31) 275,785 33 MAXIMUM AID ( .98 * ENTRY 3 * ENTRY 6) 346,997 34 SELECTED 2004-05 SMALL CITIES AID UNDER FORMULA (< ENTRY 32 OR ENTRY 33) 275,785 35 ACTUAL 2004-05 AID PAYABLE(ENT#1) (SAME AS 02-03) 336,322

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