1. Financial Report and Overview
Reduction in Expenses
Melanie Kerber, Ed. D.
March 4, 2016

2. The Past 1997-2015

3. BLACKHAWK SCHOOL DISTRICT
MILLAGE
1997-1998 to 2015-2016
SCHOOL YEAR MILLAGE MILL INCREASE PERCENT INCREASE
1997-1998 40.9 0.00 0%
1998-1999 40.9 0.00 0.00%
1999-2000 40.9 0.00 0.00%
2000-2001 41.9 1.00 2.44%
2001-2002 41.9 0.00 0.00%
2002-2003 44.9 3.00 7.16%
2003-2004 44.9 0.00 0.00%
2004-2005 44.9 0.00 0.00%
2005-2006 44.9 0.00 0.00%
2006-2007 45.9 1.00 2.23%
2007-2008 46.9 1.00 2.18%
2008-2009 48.63 1.73 3.69%
2009-2010 51.26 2.63 5.41%
2010-2011 52.76 1.50 2.93%
2011-2012 53.76 1.00 1.90%
2012-2013 54.94 1.18 2.19%
2013-2014 56.14 1.20 2.18%
2014-2015 57.68 1.54 2.74%
2015-2016 59.12 1.44 2.50%

4. MILLAGE SPECIAL COMPOUNDED PER MILL
1997-1998 to 2015-2016 SESSION MAXIMUM MAXIMUM CURRENT MAXIMUM 2006 to Presen
2006 ACT 1 ALLOWABLE INDEX MILLAGE LOSS OF POTENTIAL
MILL PERCENT ADJUSTED MILL MILLAGE LESS THAN DOLLARS MAXIMUM
SCHOOL YEAR MILLAGE INCREASE INCREASE INDEX INCREASE RATE ALLOWABLE TO INDEX DOLLARS
1997-1998 40.9 0.00 0%
1998-1999 40.9 0.00 0.00%
1999-2000 40.9 0.00 0.00%
2000-2001 41.9 1.00 2.44%
2001-2002 41.9 0.00 0.00%
2002-2003 44.9 3.00 7.16%
2003-2004 44.9 0.00 0.00%
2004-2005 44.9 0.00 0.00%
2005-2006 44.9 0.00 0.00%
2006-2007 45.9 1.00 2.23% 5.20% 2.33 47.23 1.33 $ 327,026
2007-2008 46.9 1.00 2.18% 4.50% 2.13 49.36 2.46 $ 602,790 $ 929,816
2008-2009 48.63 1.73 3.69% 5.80% 2.86 52.22 3.59 $ 880,350 $ 1,810,166
2009-2010 51.26 2.63 5.41% 5.40% 2.82 55.04 3.78 $ 926,914 $ 2,737,080
2010-2011 52.76 1.50 2.93% 3.80% 2.09 57.13 4.37 $ 1,071,868 $ 3,808,948
2011-2012 53.76 1.00 1.90% 1.90% 1.09 58.22 4.46 $ 1,092,831 $ 4,901,779
2012-2013 54.94 1.18 2.19% 2.20% 1.28 59.50 4.56 $ 1,117,540 $ 6,019,319
2013-2014 56.14 1.20 2.18% 2.20% 1.31 60.81 4.67 $ 1,144,252 $ 7,163,571
2014-2015 57.68 1.54 2.74% 2.70% 1.64 62.45 4.77 $ 1,169,213 $ 8,332,784
2015-2016 59.12 1.44 2.50% 2.50% 1.56 64.01 4.89 $ 1,198,933 $ 9,531,717
2016-2017 61.02 1.90 3.20% 3.20% 2.05 66.06 5.04 $ 1,235,300 $ 10,767,017

5. BLACKHAWK SCHOOL DISTRICT
DEBT SERVICE - BOND PAYMENT
GENERAL OBLIGATION BONDS / TRANE LEASE
MILL VALUE $245,000
$ 245,000.00
MILLS TO
ANNUAL AGGREGATE COVER
TOTAL INCREASE INCREASE YEARLY
FISCAL SERVICE PRINCIPAL INTEREST DEBT PAYMENTS (DECREASE) (DECREASE) DEBT SERVICE
2006-2007 $ 575,000 $ 49,083 $ 624,083 $ - 2.55
2007-2008 $ 585,000 $ 123,237 $ 708,237 $ 84,154 $ 84,154 2.89
2008-2009 $ 605,000 $ 428,478 $ 1,033,478 $ 325,242 $ 409,396 4.22
2009-2010 $ 819,524 $ 657,459 $ 1,476,983 $ 443,504 $ 852,900 6.03
2010-2011 $ 540,009 $ 664,771 $ 1,204,780 $ (272,203) $ 580,697 4.92
2011-2012 $ 1,050,638 $ 1,048,561 $ 2,099,199 $ 894,420 $ 1,475,116 8.57
2012-2013 $ 949,398 $ 1,385,412 $ 2,334,810 $ 235,610 $ 1,710,727 9.53
2013-2014 $ 1,026,091 $ 1,568,355 $ 2,594,446 $ 259,637 $ 1,970,363 10.59
2014-2015 $ 1,288,003 $ 1,494,059 $ 2,782,062 $ 187,616 $ 2,157,979 11.36
2015-2016 *** $ 1,540,270 $ 1,465,014 $ 3,005,284 $ 223,222 $ 2,381,201 12.27
2016-2017 *** $ 1,577,900 $ 1,430,083 $ 3,007,983 $ 2,699 $ 2,383,900 12.28
*** BUDGETED OTHER YEARS ACTUAL
NOTE: THIS INCLUDES ALL GENERAL OBLIGATION BONDS AND TRANE LEASE AGREEMENT

6. BLACKHAWK SCHOOL DISTRICT
EARLY RETIREMENT INCENTIVE
2015-2016
SOCIAL LESS RETIREMENT LESS TOTAL
SECURITY REIMBURSEMENT PSERS REIMBURSEMENT SALARY &
SALARY 7.65% 50% 25.84% 50% BENEFITS
$ 79,703 $ 6,097 $ 3,049 $ 20,595 $ 10,298 $ 93,049
$ 80,743 $ 6,177 $ 3,088 $ 20,864 $ 10,432 $ 94,263
$ 79,703 $ 6,097 $ 3,049 $ 20,595 $ 10,298 $ 93,049
$ 79,703 $ 6,097 $ 3,049 $ 20,595 $ 10,298 $ 93,049
$ 79,703 $ 6,097 $ 3,049 $ 20,595 $ 10,298 $ 93,049
$ 78,608 $ 6,014 $ 3,007 $ 20,312 $ 10,156 $ 91,771
$ 72,253 $ 5,527 $ 2,764 $ 18,670 $ 9,335 $ 84,352
$ 79,703 $ 6,097 $ 3,049 $ 20,595 $ 10,298 $ 93,049
$ 74,103 $ 5,669 $ 2,834 $ 19,148 $ 9,574 $ 86,512
$ 80,963 $ 6,194 $ 3,097 $ 20,921 $ 10,460 $ 94,520
$ 76,733 $ 5,870 $ 2,935 $ 19,828 $ 9,914 $ 89,582
$ 79,703 $ 6,097 $ 3,049 $ 20,595 $ 10,298 $ 93,049
$ 941,621 $ 72,034 $ 36,017 $ 243,315 $ 121,657 $ 1,099,295
$ 386,222
$220,000 / $166,222
ADJUSTED NET SAVINGS: $ 713,073
$ 49,495 $ 3,786 $ 1,893 $ 12,790 $ 6,395 $ 57,783
$ 49,495 $ 3,786 $ 1,893 $ 12,790 $ 6,395 $ 57,783
$ 49,495 $ 3,786 $ 1,893 $ 12,790 $ 6,395 $ 57,783
$ 49,495 $ 3,786 $ 1,893 $ 12,790 $ 6,395 $ 57,783
$ 50,275 $ 3,846 $ 1,923 $ 12,991 $ 6,496 $ 58,694
$ 63,275 $ 4,841 $ 2,420 $ 16,350 $ 8,175 $ 73,870
$ 311,530 $ 23,832 $ 11,916 $ 80,499 $ 40,250 $ 363,696
NET SAVINGS FROM ERI - 1ST YEAR $ 349,378

7. BLACKHAWK SCHOOL DISTRICT
EARLY RETIREMENT INCENTIVE
2016-2017
SOCIAL LESS RETIREMENT LESS TOTAL
SECURITY REIMBURSEMENT PSERS REIMBURSEMENT SALARY &
SALARY 7.65% 50% 29.27% 50% BENEFITS
$ 82,181 $ 6,287 $ 3,143 $ 24,054 $ 12,027 $ 97,352
$ 83,221 $ 6,366 $ 3,183 $ 24,359 $ 12,179 $ 98,584
$ 82,181 $ 6,287 $ 3,143 $ 24,054 $ 12,027 $ 97,352
$ 82,181 $ 6,287 $ 3,143 $ 24,054 $ 12,027 $ 97,352
$ 82,181 $ 6,287 $ 3,143 $ 24,054 $ 12,027 $ 97,352
$ 81,710 $ 6,251 $ 3,125 $ 23,917 $ 11,958 $ 96,794
$ 78,431 $ 6,000 $ 3,000 $ 22,957 $ 11,478 $ 92,909
$ 82,181 $ 6,287 $ 3,143 $ 24,054 $ 12,027 $ 97,352
$ 78,431 $ 6,000 $ 3,000 $ 22,957 $ 11,478 $ 92,909
$ 82,181 $ 6,287 $ 3,143 $ 24,054 $ 12,027 $ 97,352
$ 82,961 $ 6,347 $ 3,173 $ 24,283 $ 12,141 $ 98,276
$ 82,181 $ 6,287 $ 3,143 $ 24,054 $ 12,027 $ 97,352
$ 980,021 $ 74,972 $ 37,486 $ 286,852 $ 143,426 $ 1,160,933
$ 166,222
ADJUSTED NET SAVINGS: $ 994,711
$ 52,346 $ 4,004 $ 2,002 $ 15,322 $ 7,661 $ 62,009
$ 52,346 $ 4,004 $ 2,002 $ 15,322 $ 7,661 $ 62,009
$ 52,346 $ 4,004 $ 2,002 $ 15,322 $ 7,661 $ 62,009
$ 52,346 $ 4,004 $ 2,002 $ 15,322 $ 7,661 $ 62,009
$ 53,126 $ 4,064 $ 2,032 $ 15,550 $ 7,775 $ 62,933
$ 66,311 $ 5,073 $ 2,536 $ 19,409 $ 9,705 $ 78,552
$ 328,821 $ 25,155 $ 12,577 $ 96,246 $ 48,123 $ 389,521

8. BLACKHAWK SCHOOL DISTRICT
EARLY RETIREMENT INCENTIVE
2017-2018
SOCIAL LESS RETIREMENT LESS TOTAL
SECURITY REIMBURSEMENT PSERS REIMBURSEMENT SALARY &
SALARY 7.65% 50% 30.25% 50% BENEFITS
$ 83,457 $ 6,384 $ 3,192 $ 25,246 $ 12,623 $ 99,272
$ 83,221 $ 6,366 $ 3,183 $ 25,174 $ 12,587 $ 98,991
$ 83,457 $ 6,384 $ 3,192 $ 25,246 $ 12,623 $ 99,272
$ 83,457 $ 6,384 $ 3,192 $ 25,246 $ 12,623 $ 99,272
$ 83,457 $ 6,384 $ 3,192 $ 25,246 $ 12,623 $ 99,272
$ 82,961 $ 6,347 $ 3,173 $ 25,096 $ 12,548 $ 98,682
$ 81,582 $ 6,241 $ 3,121 $ 24,679 $ 12,339 $ 97,042
$ 83,457 $ 6,384 $ 3,192 $ 25,246 $ 12,623 $ 99,272
$ 81,582 $ 6,241 $ 3,121 $ 24,679 $ 12,339 $ 97,042
$ 83,457 $ 6,384 $ 3,192 $ 25,246 $ 12,623 $ 99,272
$ 84,237 $ 6,444 $ 3,222 $ 25,482 $ 12,741 $ 100,200
$ 83,457 $ 6,384 $ 3,192 $ 25,246 $ 12,623 $ 99,272
$ 997,782 $ 76,330 $ 38,165 $ 301,829 $ 150,915 $ 1,186,862
$ 159,762
ADJUSTED NET SAVINGS: $ 1,027,100
$ 56,102 $ 4,292 $ 2,146 $ 16,971 $ 8,485 $ 66,733
$ 56,102 $ 4,292 $ 2,146 $ 16,971 $ 8,485 $ 66,733
$ 56,102 $ 4,292 $ 2,146 $ 16,971 $ 8,485 $ 66,733
$ 56,102 $ 4,292 $ 2,146 $ 16,971 $ 8,485 $ 66,733
$ 56,362 $ 4,312 $ 2,156 $ 17,050 $ 8,525 $ 67,043
$ 69,387 $ 5,308 $ 2,654 $ 20,990 $ 10,495 $ 82,536
$ 350,157 $ 26,787 $ 13,394 $ 105,922 $ 52,961 $ 416,512
NET SAVINGS FROM ERI - 3RD YEAR $ 610,588
Three Year Savings $ 1,565,156

9. 2014-15 Budget 2015-16 Budget Increase
(Decrease)
% Increase over
2014-15
2014-15 Millage 2015-16 Millage Increase
(Decrease)
Value of 1 Mill
iquippa $21,498,076 $22,408,599 $910,523 4.235% 34.0 34.75 .75 $75,000
mbridge Area $41,794,796 $44,091,703 $2,296,907 5.496% 73.94 75.86 1.92 $278,161
eaver Area $27,944,564 $28,970,540 $1,025,976 3.671% 69.60 72.20 2.60 $201,462
g Beaver $25,522,216 $26,306,494 $784,278 3.073% 64.0 64.0 0 $85,365
ackhawk $33,979,900 $34,514,917 $535,017 1.575% 57.68 59.12 1.44 $258,706
entral Valley $32,583,889 $34,099,041 $1,515,152 4.650% 49.95 51.15 1.20 $292,680
eedom $21,400,000 $21,738,057 $338,057 1.580% 48.30% 53.40 5.10 $136,907
opewell $36,209,987 $37,588,897 $1,348,910 3.725% 68.50% 70.0 1.50 $219,380
dland $5,091,757 $5,074,698 ($17,059) -0.335% 29.50% 30.25 .75 $18,072
ew Brighton $22,164,589 $23,033,490 $868,901 3.920% 57.15% 60.30 3.15 $83,975
verside $22,597,984 $23,788,064 $1,190,080 5.266% 61.95% 63.55 1.60 $127,088
ochester $15,843,229 $16,565,594 $722,365 4.559% 65.25% 67.0 1.75 $71,070
outh Side $22,287,622 $23,473,557 $1,185,935 5.321% 52.40% 67.0 2.50 $128,222
estern Beaver $12,048,488 $12,440,488 $392,000 3.254% 51.0% 54.90 -51.0 $67,536
tal $340,967,097 $354,064,139 $13,097,042 49.90% $2,034,624
verage $24,354,793 $25,290,296 $935,503 3.571% 58.19 58.19 $145,973

10. 2012-13
Actual
Expenditures
2013-14 Actual
Expenditures
2014-15 YTD
Expenditures
2015-16
Budgeted
Expenditures
2016-17
Proposed
Expenditures
Total Increase
in Expenditures
ersonnel Services-
alaries
$14,383,104 $14,533,503 $15,093,099 $15,229,612 $15,385,158 $1 million
ersonnel Services-
enefits
$6,847,365 $7,601,664 $8,153,834 $8,868,408 $9,388,966 $2.5million
urchased Professional
nd Technical Services
$500,924 $595,248 $645,847 $667,150 $677,660 $176,000
urchased Property
ervices
$583,151 $621,541 $740,852 $728,100 $746,892 $163,741
ther Purchased
ervices
$4,467,586 $4,572,754 $4,552,582 $4,262,656 $4,565,798 $98,000
upplies $1,616,295 $1,492,339 $1,482,727 $1,574,190 $1,539,561 Decrease $76,000
roperty $435,130 $552,514 $420,841 $426,150 $580,024 $144,000
ther Objects $1,473,736 $1,623,758 $1,560,992 $1,602,621 $1,510,348 $36,612
ther Financing Fees $960,380 $1,031,091 $,543,003 $1,156,030 $1,577,900 $617,520
eport Totals $31,267,671 $32,624,412 $34,193,777 $34,514,917 $35,872,307 $4.65 million

11. $10,359,195
$10,826,615
$11,296,010
2015-16
2016-17
2017-18

12. TOTAL -
SALARY $ 10,359,195 $10,826,615 $ 467,420 $11,296,010 $ 469,395 $936,815
Social
Security $ 396,239 $ 414,118 $ 17,879 $ 432,072 $ 17,954 $35,909
Retirement $ 1,338,408 $ 1,625,616 $ 287,208 $ 1,809,621 $ 184,005 $471,213
$ 12,093,842 $ 12,866,349 $772,507 $ 13,537,703 $ 671,354 $1,443,861
lary percentage
rease 4.51% 3.09 mills 4.34% 2.68 mills 8.85% 5.77 mills
lary, Social Security and PSERS
rcentage increase 6.39% 5.22% 11.61%

13. Concession #1
Defer raise to second
semester
Concession #2
Extra Plan Period for AP
Pay Freeze
Extend contract by 2 years