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35 <br /> EXECUTIVE SUMMARY Page 12 <br /> Total Board of Education's Recommended Expansion Budget <br /> ry Math <br /> 7 and English <br /> Intervention <br /> FElementary MaWth <br /> : : i i0i <br /> Professional <br /> L L Development Office <br /> i ii0 <br /> Business and Magnet Dual <br /> Financial Services District Senior Language <br /> Reorganization Leadership Coordinator <br /> $80,000 Reorganization $80,000 <br /> $65,000 <br /> Revenues and Operating Transfers In <br /> Customarily, the BOE would increase several other local revenues such as interest revenues, <br /> fines and forfeitures, and the special district tax. However, the COVID-19 pandemic has affected <br /> these revenue types in several ways that has led the District to forecast decreases. As a result, the <br /> District is holding all other local revenue sources at FY 2020-21 levels, with the exception of <br /> interest revenues. Our estimates indicate a revenue decrease of$25,000 for next year as a direct <br /> result of the reduction in interest rates on the District's funds held in the NC State Treasurer's <br /> Short-Term Investment Fund(STIF). <br /> Fund Balance Appropriated <br /> We currently estimate our fiscal year end unassigned fund balance at$15.5 million. This is <br /> approximately $11 million above our minimum target of 5.5% or$4.5 million. Although the <br /> District historically has assigned$1 million to balance the current local operating budget, this <br /> request is presented without a fund balance appropriation. To date, the District has appropriated <br /> a total of$4.8 million in fund balance in its amended FY 2020-21 local operating budget <br /> primarily to help address the challenges that surfaced throughout the pandemic and assist with <br /> the reopening of schools. <br /> 00 <br /> Chapel Hill—Carrboro City Schools—FY 2021-22 Recommended Budget empower <br /> inspire <br />