DISTRICT CODE: 571000 STATE AID 2005-06 DISTRICT NAME: CORNING DATE: OCT 25, 2008 EDITION NO. 2901 DISTRICT LAST UPDATED ON 10/24/08 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 2004-05 SPEC AID PAYABLE UNDER SUB 31A 854,672 2 2004-05 ADJUSTED TGFE (ST3, AT9999.0) 63,905,739 3 STATE SHARE RATIO (ENT 1 / ENT 2) 0.0133 4 MAXIMUM OPERATING BUDGET (1.0874 * ENT 2) 69,491,100 5 2005-06 GRAND TOTAL GENERAL FUND EXPS AND INTERFUND TRANSFERS (ST3,AT9999.0 EST) 69,136,538 6 SEL OPERATING BUDGET ( < ENT 4 OR ENT 5) 69,136,538 PART II: CALCULATION OF PRELIMINARY FORMULA AID ________________________________________________ 7 2004-05 REVS ST SOURCES NOT SPEC AID FOR SM CITY DISTS (ST-3, AT3999 - A3261) 27,663,847 8 2005-06 BUDGETED REVS ST SOURCES NOT AID FOR SM CITY DISTS (ST-3, AT3999 EST - A3261 EST) 29,521,744 9 DEDUCTION FOR STATE AID INCREASES (ENT 8 - ENT 7, MIN 0) 1,857,897 10 ADJ SEL OPERATING BUDGET (ENT 6 - ENT 9, MIN 0) 67,278,641 11 PRELIMINARY FORMULA AID (ENT 3 * ENT 10,RND) 894,806 PART III: CALCULATION OF MILLAGE DEDUCTION __________________________________________ 12 2002 ACTUAL VAL / 1000 1,384,895.667 13 2004-05 TOT PROP TAX LEVY ALL PURPS (ST3,81-14) 32,607,921 14 2004-05 TOT NONPROPERTY TAX REVENUES (ST3,AT1199) 0 15 TOT PROP & NONPROP TAXES (ENT 13 + ENT 14) 32,607,921 16 04-05 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 06/30/05 (ST3,AT091) 2,342,731 22 ALLOWABLE 6% FUND BALANCE (ENT 2 * .06) 3,834,344 23 EXCESS FUND BALANCE (ENT 21 - ENT 22,MIN 0) 0 24 TOT DEDUCTIBLES FROM TAXES (SUM OF ENTS 16, 19, 20 & 23) 0 25 NET TAXES (ENT 15 - ENT 24, MIN 0) 32,607,921 26 TAX RATE PER $1000 FV (ENT 25 / ENT 12) 23.54 27 MILLAGE DEDUCT MULTIPLIER (18.28 / ENT 26) 0.77655 28 FULL VALUE MILLEAGE DEDUCTION (ENT 12 * ENT 27 * $0.40) 430,176 PART IV: CALCULATION OF AID PAYABLE FOR 2005-06 _______________________________________________ 29 FORMULA AID UNDER SUB 31A (ENT 11 - ENT 28, MIN 0) 464,630 30 SAVE HARMLESS PERCENT 0.84 31 SAVE HARMLESS AMOUNT (ENT 1 * ENT 30,RND) 717,925 32 GREATER OF FORMULA OR SAVE HARMLESS ( > ENT 29 OR ENT 31) 717,925 33 MAXIMUM AID ( .98 * ENTRY 3 * ENTRY 6) 901,126 34 SELECTED 2005-06 SMALL CITIES AID UNDER FORMULA (< ENTRY 32 OR ENTRY 33) 717,925 35 ACTUAL 2005-06 AID PAYABLE(ENT#1) (SAME AS 04-05) 854,672

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