Final Budget 2021

| | | - | | | | | | | | | | | | | | | | | | | | | | | | | | Final Budget | | Fiscal Year 2021 | | 7/1/20 - 6/30/21 | | | | | | Presented February 17, 2021 | ![CSD-Logo-blue]()

| Capital School District | | - | | Final Budget | | Explanation of Revenues | | Fiscal Year 2021 | | | | State Funds | | | | Division I | | Division I funds are allocated based on the number of Units, or teaching positions, that are generated by the District. Units are generated based on student enrollment as of September 30th Unit Count of each year. Different students have different divisors to generate a unit. For example, a typical student will generate a teacher for every 20 students. However, some special education students will generate a teacher position for every 2.6 students. Once, the number of Units based on the September 30th Unit count are verified by the Department of Education , the District may employ that number of positions and receive State Funding based on the State Salary Scale for those positions. In addition, the district pays teachers a local portion of their salary based on a teacher scale as negotiated with the teachers' association. The State will also pay their portion of Other Employment Costs (Pension, Workers Comp, Medicare, etc) associated with the state portion of the salaries. Furthermore, the State will pay a portion of the Health insurance for the employee with the remainder of the cost to be paid from the District and Employee. Each year the State will provide a Guaranteed Unit count based on the previous years enrollment so that districts can hire positions before September 30th. Division I Salaries also include the state share of salaries for administrators, secretaries, paras, and custodians; all of which are generated by the September 30th Unit Count (except custodians which are allocated based on facilities square footage, acreage, etc). | | | | Division II | | Energy - Based on the number of Units generated by the September 30th count, the district will receive state funds that must be used towards the utility expenses incurred by the district. | | All Other Costs (AOC) - Based on the number of Units generated by the September 30th count, the district will receive state funds for expenses such as supplies and materials and contracted services. | | Vocational (509) - Based on the number of minutes that students spend in vocational classrooms, the district will receive state funds for supplies and materials and other expenses for the Vocational programs. These funds must be utilized for expenses incurred by the vocational program in the school that generated the funding. | | | | Division III | | Funds allocated by the state that can be used for any educational purpose. The allotment is based from the Equalization formula which compares the assessed values and market values across districts to allocate more funding towards the districts that cannot raise as much local funds through their tax base. This fund is used to support local portion of staff salaries. | | | | Instructional and Pass Through Funding | | Funds allocated by the State for a particular program such as Driver's Education. | | | | Page 1 | Explanation of Revenues | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |

| | | - | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Educational Sustainment Funds | | Funds allocated by the State to offset the Federal State Fiscal Stabilization Funds which were eradicated in FY 13. The Federal State Fiscal Stabilization Funds were allocated by the Federal government to offset the State reductions to education during the FY 10 Budget Year. These State reductions were due to a downturn in the State and National economy which severely impacted the Revenues of the State. This fund is used to support any educational purpose such as local portion of staff salaries, benefits, and etc. | | | | The District's State Funds was reduced by $1,393,272.03 as a result of the State's budget cut implemented starting in FY 2018. | | Local Funds | | Choice | | Funds paid to other districts for children living within the boundaries of Capital School District and attending other districts. The payments are predicated by the amount of local spending from the prior year and the child's classification. For example, more funding would be sent for a special education student than would be sent for a regular education student. Offsetting these expenses are payments made by other school districts to Capital for students that reside in their districts but attend schools in Capital. Payments are treated as revenue reductions instead of expenditures. | | | | Charter | | Funds paid to Charter schools for the children attending their school and residing within the boundaries of Capital School District. The payments are predicated by the amount of local spending from the prior year and the child's classification. For example, more funding would be sent for a special education student than would be sent for regular education student. Payments are treated as revenue reductions instead of expenditures. | | | | Indirect Costs | | Funds collected from Federal Programs to cover the general administrative costs for implementing the federal programs. For example, energy costs, office space, and services provided by non-federal employees to support the Federal Program. The funds are used to pay for the general operations of the district or any educational purpose such as the local portion of staff salaries, the local portion of benefits, instructional materials, extracurricular activities, energy costs, technology, and etc. | | | | Property Tax Receipts (Operating Funds) | | Funds received from the taxes on assessed values within the boundaries of the Capital School District. This tax rate can only be increased by the approval of a referendum by the majority of voters residing within the Capital School District. The funds are used to pay for the general operations of the district or any educational purpose such as the local portion of staff salaries, the local portion of benefits, instructional materials, extracurricular activities, energy costs, technology, and etc. Billing and collection of these tax receipts, and all local school taxes, are performed by Kent County. | | | | Tuition Tax | | The Board of Education establishes this tax rate annually. The funds can only be used to offset the expenses of Tuition Programs that service the needs of Special Education children. The District must satisfy all the recommendations as written in the students' IEPs as required by law. These funds would cover the cost of tuition programs within Capital School District such as Kent County Community School, Kent Secondary ILC, and the Capital ILC's. Furthermore, these funds would pay the tuition expenses for students who can not be serviced within the district and must be sent to another district's tuition program or specialized private facility. | | | | Page 2 | Explanation of Revenues | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |

| | | - | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Minor Cap | | Funds received from the taxes on assessed values within the boundaries of the Capital School District. The Board of Education establishes this tax rate annually in congruence with the anticipated minor capital improvement funding from the state. These taxes are necessary so the district can receive the 60% State match for the 40% local share. The funds can be used to maintain the facilities. Examples of expenditures would be repairs to parking lots, roofs, plumbing, mechanical systems, flooring, electrical, and etc. | | | | Reading and Math Specialist | | The Board of Education establishes this tax rate annually. These funds can only be used to pay the local portion of salaries and benefits for the Reading and Math Teachers. | | | | Technology | | The 1999 Bond and Capital Improvements Act provided schools with funds for instructional technology over a three year period. In addition to providing funding for computer hardware, the legislation states that the match may be levied indefinitely provided that the funds are dedicated to ongoing equipment, maintenance, repair and replacement. The State of Delaware has established a tax rate for maintenance activities and this rate cannot be increased without further legislation. | | | | Extra Time | | The Board of Education establishes this tax rate annually. These funds can only be used to pay for programs relating to additional instruction for children such as after school, summer school, mentoring, etc. | | | | Debt Service | | The Board of Education establishes this tax rate annually. These funds can only be used to pay for the principal and interest on bonds or bond anticipation notes that have been sold as a result of an approved referendum to build or renovate facilities. | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Page 3 | Explanation of Revenues |

| Capital School District | | - | | Final Budget | | Revenues | | Fiscal Year 2021 | | Div I | Other State | Local | Tuition | Total | Other Local | FY 20 Actual | FY 20 Budget | | | | | | | | | | DIVISION I (SALARIES) | | 001 | State Salaries, OEC's, and Benefits (00137) | 58,680,852 | 58,680,852 | 56,977,783 | 58,658,841 | | 002 | Child Nutrition Salaries (05116) | 1,045,103 | 1,045,103 | 980,054 | 1,045,103 | | 003 | TOTAL DIVISION I | 59,725,955 | - | - | - | - | 59,725,955 | 57,957,837 | 59,703,944 | | 004 | | 005 | DIVISION II (SUPPLIES/MATERIALS) | | 006 | Division II (05165, 05265) $2,925/Unit | - | 163,758 | 1,319,306 | 1,483,064 | 1,353,114 | 1,379,668 | | 007 | Div II - Academic Excellence $2,925/Unit | 72,335 | 72,335 | 74,354 | 74,354 | | 008 | Div II - Energy (00159) $2,387/Unit | 1,432,654 | 1,432,654 | 1,490,825 | 1,490,825 | | 009 | TOTAL DIVISION II | - | 163,758 | 2,824,295 | - | - | 2,988,053 | 2,918,293 | 2,944,847 | | 010 | | 011 | DIVISION III (EQUALIZATION) | | 012 | Division III (05186) | 8,854,296 | 8,854,296 | 9,209,547 | 9,209,547 | | 013 | Div III - Reading Cadre & Visiting Teacher | 44,388 | 44,388 | 44,388 | 44,388 | | 014 | Div III - 40% of Related Serv.(Regular & Basic) | 34,623 | 34,623 | 35,925 | 35,925 | | 015 | Div III - Academic Excellence | 365,905 | 365,905 | 381,885 | 381,885 | | 016 | TOTAL DIVISION III | - | - | 9,299,212 | - | - | 9,299,212 | 9,671,745 | 9,671,745 | | 017 | | 018 | TRANSPORTATION | | 019 | Homeless Transp (05149) | 950,000 | 950,000 | 950,000 | 707,623 | | 020 | Regular District (05150) | 1,358,880 | 1,358,880 | 1,358,880 | 1,603,387 | | 021 | Transportation Supplies (05160) | 1,000 | 1,000 | 1,000 | 1,000 | | 022 | Contractors (05152) | 2,676,747 | 2,676,747 | 2,676,747 | 2,681,879 | | 023 | TOTAL TRANSPORTATION | - | 4,986,627 | - | - | - | 4,986,627 | 4,986,627 | 4,993,889 | | 024 | | 025 | INSTRUCTIONAL & PASS THRU FUNDING | | 026 | Opportunity Grant | 1,691,297 | 562,477 | 2,253,774 | 1,862,084 | 2,269,739 | | 027 | Academic Excellence Option (05194) | - | - | - | - | | 028 | Odyssey of the Mind (05125) | - | - | - | - | | 029 | Drivers Ed (05142) | 26,464 | 26,464 | 26,464 | 26,263 | | 030 | Acc Acad Framework (05155) | - | - | - | - | | 031 | Teacher of the Year (05162) | - | - | - | - | | 032 | Unique Alternatives (05181) | 501,884 | 501,884 | 307,155 | 214,054 | | 033 | Related Services (05190) | 349,000 | 349,000 | 206,690 | 218,275 | | 034 | Technology - State Testing ($128,071) | - | - | - | - | | 035 | Professional Development (05205) | 79,767 | 79,767 | 79,767 | 79,767 | | 036 | Teacher on Loan (05208) | - | - | - | - | | Page 4 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |

| | | - | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Div I | Other State | Local | Tuition | Other Local | Total | FY 20 Budget | FY 20 Actual | | 037 | Educ Accntab (05215) | 1,987 | 1,987 | 1,987 | 1,987 | | 038 | Professional Accountability (05225) | 11,200 | 11,200 | 35,895 | 35,895 | | 039 | Technology Block Grant (05235) | 199,339 | 199,339 | 117,700 | 205,831 | | 040 | Sequestration Funds (00254) | - | - | - | - | | 041 | Immersion Funds (00231) | 55,000 | 55,000 | 55,000 | 103,440 | | 042 | College Access (00368) | - | - | - | | 043 | LEP (0233) | - | - | - | - | | 044 | Education Block Grant (00574) | - | - | - | - | | 045 | School Improvement (05244) | - | - | 353,000 | 345,000 | | 046 | Educator Prep | 77,000 | 77,000 | 77,000 | 77,000 | | 047 | CSCRP (62501) | 72,100 | 72,100 | 72,100 | 76,878 | | 048 | TOTAL INSTR/PASS THRU | - | 2,992,938 | - | - | 634,577 | 3,627,515 | 3,194,842 | 3,194,842 | | | | 049 | Safety and Security | - | 267,903 | 267,903 | | 050 | State Stipends (05193) | - | - | - | - | | 051 | Pass Thru (05128) | - | - | - | - | | 052 | State Ed Sustainment funds (05289) | 1,489,465 | 1,489,465 | 1,537,975 | 1,537,975 | | 053 | Major Cap Bonds Sold | - | - | - | - | | 054 | Tax Relief (05287) | - | - | - | - | | 055 | TOTAL STATE FUNDS | 59,725,955 | 8,143,323 | 13,612,972 | - | 634,577 | 82,116,827 | 80,535,222 | 82,315,145 | | 056 | | 057 | LOCAL FUNDS | | 058 | Choice (98000) | (556,998) | (181,075) | (738,073) | (1,010,440) | (1,010,440) | | 059 | Charter (98000) | (1,185,773) | (339,833) | (1,525,605) | (1,730,781) | (1,730,781) | | 060 | Building Rent (91301) | 62,733 | 62,733 | 92,733 | 153,232 | | 061 | CSCRP Funds (98041,91339) | - | 48,844 | - | 48,844 | 48,844 | 5,000 | | 062 | Child Nutrition (91102,91104) | 3,928,472 | 3,928,472 | 4,028,472 | 3,632,352 | | 063 | Miscellaneous Local (98029,91314,91381,91352,91385,91200) | 54,341 | 75,227 | 129,568 | 129,568 | 129,568 | | 064 | Tuition paid from other districts (91050) | (2,025,257) | 2,695,063 | 669,805 | 834,046 | 669,805 | | 065 | Indirect Cost (91691) | 285,371 | 285,371 | 285,371 | 215,156 | | 067 | Property Tax Receipts (98000) | 14,981,554 | 14,981,554 | 13,295,498 | 13,408,328 | | 068 | Tuition Tax Receipts (91050) | 5,684,965 | 5,684,965 | 5,318,199 | 5,363,828 | | 069 | Minor Cap (91150) | 581,758 | 363,231 | 944,989 | 1,012,373 | 975,570 | | 070 | Reading & Math Specialist Match (91211) | 240,775 | 240,775 | 239,319 | 231,732 | | 071 | Technology Tax Receipts Match (91210) | 240,775 | 240,775 | 239,319 | 231,732 | | 072 | Extra Time Tax Receipts Match (91214) | 200,646 | 200,646 | 200,430 | 193,110 | | 073 | Debt Service (Local) (91000,91001) | 6,903,554 | 6,903,554 | 7,026,472 | 7,102,264 | | 074 | Interest Income | 133,256 | 23,863 | 157,119 | 157,119 | 650,466 | | 075 | Miscellaneous | 86,615 | 86,615 | 86,615 | 86,615 | | 076 | TOTAL LOCAL FUNDS | - | 581,758 | 11,884,686 | 7,859,120 | 11,976,543 | 32,302,107 | 30,253,157 | 30,307,536 | | 077 | | 078 | TOTAL PROJECTED REVENUES | 59,725,955 | 8,725,081 | 25,497,658 | 7,859,120 | 12,611,120 | 114,418,934 | 110,788,379 | 112,622,681 | | 079 | | 080 | BEGINNING BALANCE/(PRIOR YEAR ENDING | - | - | 6,418,314 | 846,149 | 9,046,129 | 16,310,592 | 16,353,647 | 16,353,647 | | 081 | | 082 | TOTAL AVAILABLE FUNDS | 59,725,955 | 8,725,081 | 31,915,972 | 8,705,269 | 21,657,249 | 130,729,526 | 127,142,026 | 128,976,328 | | | | Page 5 |

| Capital School District | | - | | Final Budget | | Revenue Graph | | Fiscal Year 2021 | | | | Percentage of Revenues | | Div I | 48.87% | 59,725,954.59 | | Other State | 18.28% | 22,338,053.36 | | Local | 9.72% | 11,884,686.17 | | Tuition | 6.43% | 7,859,120.14 | | Debt Service | 5.65% | 6,903,554.00 | | Other Local | 1.46% | 1,779,094.00 | | Federal | 6.38% | 7,796,323.00 | | Food Service | 3.21% | 3,928,471.62 | | 100.00% | 122,215,256.88 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Page 6 | Revenue Graph |

| Capital School District | | - | | Final Budget | | Local Tax Revenues | | Fiscal Year 2021 | | | | Local Tax Revenues | | FY 17 | 11,087,284 | | FY 18 | 11,279,817 | | FY 19 | 11,434,477 | | FY 20 | 13,295,298 | | FY 21 Projection | 14,981,554 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | The District's State Funds will be reduced by $1,360,254.52,064 as a result of the State's budget cut. | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Page 7 | Local Tax Revenue Graph |

| Capital School District | | - | | Final Budget | | Salaries & OEC's | | Fiscal Year 2021 | | | | # Empl. | Div I | Other State | Local | Tuition | Other Local | Total | FY 20 Budget | FY 20 Actual | | Salari | | 44 | Administrative/Instructional Support | 2,551,408 | 22,534 | 2,039,493 | 167,741 | 75,559 | 4,856,736 | 4,666,080 | 4,806,182 | | 46 | Clerical | 1,503,410 | - | 504,212 | 33,802 | 13,420 | 2,054,845 | 1,970,942 | 2,041,395 | | 637 | Instructional (Teacher & Other Positions) | 23,802,171 | 1,422,459 | 8,677,179 | 2,648,538 | 466,336 | 37,016,683 | 36,091,514 | 36,729,072 | | - | EPER | 205,255 | 43,872 | 621,147 | 51,303 | 82,705 | 1,004,283 | 1,063,656 | 1,004,283 | | 253 | Aides/Interventionists | 5,147,998 | 340,755 | 998,887 | 643,433 | - | 7,131,072 | 5,217,240 | 7,029,872 | | 85 | Custodial & Maintenance | 2,416,207 | 3,094 | 977,036 | 47,969 | 1,539 | 3,445,847 | 3,431,421 | 3,420,347 | | 108 | Child Nutrition | 1,069,579 | - | 59 | - | 911,498 | 1,981,136 | 1,861,744 | 1,981,136 | | - | Vacation Lve Termination | 43,551 | - | 21,442 | 69 | 329 | 65,391 | 151,560 | 65,391 | | Sick Lve Termination | 96,795 | 5,038 | 22,561 | - | 775 | 125,169 | 120,714 | 125,169 | | 1,173 | Total Salaries | 36,836,376 | 1,837,753 | 13,862,015 | 3,592,857 | 1,552,160 | 57,681,161 | 54,574,871 | 57,202,847 | | | | s and Benefits | | Pension - ER Share | 8,437,301 | 411,461 | 2,969,255 | 824,962 | 350,356 | 12,993,335 | 12,329,235 | 12,784,875 | | Health | 10,954,223 | 381,786 | 956,474 | 247,379 | 154,729 | 12,694,590 | 12,312,804 | 13,183,761 | | Workers Comp | 582,383 | 27,180 | 196,783 | 54,643 | 25,928 | 886,917 | 850,055 | 886,518.48 | | FICA ER Share | 2,329,532 | 116,219 | 841,419 | 233,647 | 105,224 | 3,626,041 | 3,474,378 | 3,460,349 | | Unemploy Insurance | 41,330 | 2,062 | 14,928 | 4,145 | 1,840 | 64,305 | 61,615 | 62,940 | | Dental | - | - | 437,217 | 166,637 | 32,276 | 636,130 | 636,130 | 655,000 | | Disability | - | - | 11,209 | 6,477 | 1,717 | 19,403 | 19,403 | 18,594 | | Medicare ER Share | 544,810 | 27,180 | 196,783 | 54,643 | 24,609 | 848,025 | 812,557 | 810,452 | | Total OEC's | 22,889,579 | 965,888 | 5,624,068 | 1,592,533 | 696,678 | 31,768,746 | 30,496,177 | 31,862,488 | | | | Total Salaries and OEC's | 59,725,955 | 2,803,641 | 19,486,083 | 5,185,390 | 2,248,839 | 89,449,907 | 85,071,048 | 89,065,334 | | | | % of Local Revenues | | FY 21 | 76.42% | | FY 20 | 77.72% | | FY 19 | 83.33% | | FY 18 | 83.47% | | FY 17 | 81.65% | | FY 16 | 79.67% | | FY 15 | 78.09% | | | | Page 8 | Salaries and OEC's | Salaries and OEC's |

| Capital School District | | - | | Final Budget | | Salary Increases | | Fiscal Year 2021 | | | | | | State | Local | | Administrators | 0.00% | 2.50% | | | | Custodians | 0.00% | $300 | | | | Paraprofessionals | 0.00% | $400 | | | | Secretaries | 0.00% | 2.5% plus $100 | | | | Teachers | 0.00% | 2.50% | | | | Food Service | 0.00% | 2.00% | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Page 9 |

| Capital School District | | - | | Final Budget | | Budget Graph | | Fiscal Year 2021 | | | | Percentage of Local Budgets | | Salaries & OEC's | 73.85% | 18,929,238 | | Schools | 3.59% | 920,604 | | Curriculum | 1.57% | 403,261 | | Extra Time | 1.25% | 320,646 | | Maintenance | 2.15% | 551,265 | | Energy | 6.06% | 1,554,468 | | Transportation | 1.99% | 510,563 | | Other Budgets | 9.53% | 2,441,474 | | | | 100.00% | 25,631,520 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Page 13 | Budget Graph |

| Capital School District | | - | | Final Budget | | Other Funds | | Fiscal Year 2021 | | | | Total | FY 20 | | 40554 | Title I | 3,650,404 | 3,433,914 | | 40114 | Title II - TQ | 662,737 | 639,290 | | 40564 | IDEA (611) | 1,742,021 | 1,682,264 | | 40564 | IDEA (619) | 70,538 | 58,384 | | 40560 | Title III - English Language & Immigrant | 45,504 | 33,567 | | 41015 | Perkins | 222,649 | 234,858 | | 40240 | 21st Century Community Lrn | 1,010,000 | 1,010,000 | | 40532 | Title IV | 392,470 | 379,346 | | Total Federal Funds | 7,796,323 | 7,471,623 | | | | | | Fiscal Year 2021 Revenues | 114,418,934 | | | | Total Budget | 122,215,257 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Page 14 | Board Budget |

| Capital School District | | - | | Future Allocations/Reserves | | Final Budget | | Fiscal Year 2021 | | | | Balance as of 6/17/20 | | | | Turf Field Replacement | 150,025.87 | | | | Band Uniforms | 25,000.00 | | | | Property Purchase | 47,927.40 | | | | Reserve Account | 82,416.26 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Page 16 | Balances |

| Capital School District | | - | | Final Budget | | Bond Notes | | Fiscal Year 2021 | | | | Year | 1997 | 2000 | 2001 | 2002 | | Rate | 5.21% | 5.36% | 4.40% | 4.00% | | | | FY | Interest | Principal | Interest | Principal | Interest | Principal | Interest | Principal | | 18 | | 19 | | 20 | | 21 | 23,839 | 361,195 | 39,204 | 392,035 | | 22 | 7,946 | 361,195 | 23,522 | 392,035 | | 23 | 7,841 | 392,035 | | 24 | | Original | 1,783,601 | 3,260,400 | 2,844,504 | 5,054,200 | 3,337,442 | 7,223,900 | 3,293,094 | 7,840,700 | | Balance | - | - | - | - | 31,785 | 722,390 | 70,566 | 1,176,105 | | | | Year | 2005 | 2008 | 2009 | 2009 | | Rate | 3.83% | 4.47% | 3.29% | 4.91% | | | | FY | Interest | Principal | Interest | Principal | Interest | Principal | Interest | Principal | | 18 | | 19 | | 20 | | 21 | 721 | 3,765 | 90,864 | 254,095 | 103,731 | 350,325 | 23,343 | 50,045 | | 22 | 577 | 3,765 | 79,506 | 254,095 | 92,206 | 350,325 | 20,886 | 50,045 | | 23 | 433 | 3,765 | 68,148 | 254,095 | 80,680 | 350,325 | 18,429 | 50,045 | | 24 | 288 | 3,765 | 56,790 | 254,095 | 69,154 | 350,325 | 15,972 | 50,045 | | 25 | 144 | 3,765 | 45,432 | 254,095 | 57,628 | 350,325 | 13,515 | 50,045 | | 26 | 34,074 | 254,095 | 46,103 | 350,325 | 11,057 | 50,045 | | 27 | 22,716 | 254,095 | 34,577 | 350,325 | 8,600 | 50,045 | | 28 | 11,358 | 254,095 | 23,051 | 350,325 | 6,143 | 50,045 | | 29 | 11,526 | 350,325 | 3,686 | 50,045 | | 30 | 1,229 | 50,045 | | 35 | | Original | 30,282 | 75,300 | 2,385,190 | 5,081,900 | 2,403,107 | 7,006,500 | 513,147 | 1,000,900 | | Balance | 2,163 | 18,825 | 408,890 | 2,032,760 | 518,656 | 3,152,925 | 122,860 | 500,450 | | | | Year | 2011 | 2012 | FY 2013 | FY 2020 | | Rate | 3.62% | 3.34% | 2.64% | 2.12% | | | | FY | Interest | Principal | Interest | Principal | Interest | Principal | Interest | Principal | | 18 | | 19 | | 20 | | 21 | 583,813 | 1,535,945 | 337,539 | 878,780 | 179,349 | 520,985 | 133,113 | 330,469 | | 22 | 528,211 | 1,535,945 | 308,188 | 878,780 | 165,553 | 520,985 | 126,107 | 330,469 | | 23 | 472,610 | 1,535,945 | 278,837 | 878,780 | 151,757 | 520,985 | 119,101 | 330,469 | | 24 | 417,009 | 1,535,945 | 249,486 | 878,780 | 137,961 | 520,985 | 112,095 | 330,469 | | 25 | 361,408 | 1,535,945 | 220,134 | 878,780 | 124,165 | 520,985 | 105,089 | 330,469 | | 26 | 305,807 | 1,535,945 | 190,783 | 878,780 | 110,369 | 520,985 | 98,083 | 330,469 | | 27 | 250,205 | 1,535,945 | 161,432 | 878,780 | 96,573 | 520,985 | 91,077 | 330,469 | | 28 | 194,604 | 1,535,945 | 132,081 | 878,780 | 82,777 | 520,985 | 84,071 | 330,469 | | 29 | 139,003 | 1,535,945 | 102,729 | 878,780 | 68,981 | 520,985 | 77,065 | 330,469 | | 30 | 83,402 | 1,535,945 | 73,378 | 878,780 | 55,184 | 520,985 | 70,059 | 330,469 | | 31 | 27,801 | 1,535,945 | 44,027 | 878,780 | 41,388 | 520,985 | 63,053 | 330,469 | | 32 | 14,676 | 878,780 | 27,592 | 520,985 | 56,048 | 330,469 | | 33 | 13,796 | 520,985 | 49,042 | 330,469 | | Original | 11,314,844.20 | 30,718,900 | 5,945,260.60 | 17,575,600 | 2,876,487.84 | 10,419,700 | 1,459,960.00 | 6,609,375 | | Balance | 3,363,873 | 16,895,395 | 2,113,291 | 10,545,360 | 1,255,446 | 6,772,805 | 1,184,003 | 4,296,094 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |

| | | - | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Year | FY 20 Continued | | Rate | 2.12% | | | | FY | Interest | Principal | Interest | Principal | Interest | Principal | Interest | Principal | | 20 | | 21 | 35,030 | 330,469 | | 22 | 28,024 | 330,469 | | 23 | 21,018 | 330,469 | | 24 | 14,012 | 330,469 | | 25 | 7,006 | 330,469 | | 26 | | 27 | | 28 | | 29 | | 30 | | 31 | | 32 | | 33 | | 34 | | 35 | | 36 | | 37 | | 38 | | 39 | | Total | 105,089 | 1,652,344 |