SOUTHWEST TECHNOLOGY CENTER

THE 2007-2008 ESTIMATE OF NEEDS

&

FINANCIAL STATEMENT OF FY07

Property Valuation 2004-05_____2005-06____ 2006-07 2007-08 ___

SWTC Partner Districts

Jackson (10 mills) $103,771,380 $105,209.379 $104,205,942 $106,427,770

Greer (10 mills) 8,601,692 8,847,243 8,495,450 8,215,092

Harmon (10 mills) 684,560 677,646 646,343 621,774

Kiowa (10 mills) 222,112 249,469 229,121 219,377

Total SWTC Valuation $113,279,744 $114,983,737 $113,576,856 $115,484,013

Projected Revenues For FY08:

Prior Year’s Fund Balance $ 713,634.20

1000 District Sources of Revenue 265,000.00

Tuition & Fees

Earnings on Investments

Rental, Disposals & Commissions

Reimbursements

Other Local Sources of Revenue

3000 State Sources of Revenue 1,515,105.03

State – Categorical

Foundation Formula

Industry Training

Adult Training

Other State Vocational Aid (TANF)

Capital Outlay

4000 Federal Sources of Revenue 216,382.80

Other Federal Sources of Revenue (TANF)

Carl D. Perkins/Tech Prep/HSTW

Industry Training

5100 Return of Assets (Petty Cash) 200.00

10 Mills on District’s Valuation less 10% delinquencies 1,070,794.43

Grand Total of 2007-08 Budget Appropriation $3,781,116.46

SOUTHWEST TECHNOLOGY CENTER

FINANCIAL STATEMENT FOR FY07

Revenues FY07 - Anticipated vs Collected

Projected Revenues Collected

Prior Year’s Fund Balance $ 744,712,62 $ 744,712,62

1000 District Sources of Revenue 263,500.00 386,225.34

Tuition & Fees

Earnings on Investments

Rental, Disposals & Commissions

Reimbursements

Other Local Sources of Revenue

3000 State Sources of Revenue 1,242,802.00 1,280,430.78

State – Categorical

Foundation Formula

Industry Training

Adult Training

Other State Vocational Aid (TANF)

Capital Outlay

4000 Federal Sources of Revenue 194,743.00 218,353.13

Other Federal Sources of Revenue (TANF)

Carl D. Perkins/Tech Prep/HSTW

Industry Training

5000 Return of Assets 200.00 200.00

Ad Valorem Taxes (Current & Prior Years) $1,053,267.76 $1,125,998.02

Prior Year Fund Balance – Transferred -0- -0-

FY06 Lapsed Appropriations - $ 15,263.34

Total of 2006-07 Budget Appropriation $3,499,225.38 $3,771,183.23

Expenditures FY07 $3,057,549.03 + Fund Balance of $713,634.20 = $3,771,183.23

FY07 Budget $3,499,225.38 ($11,999.76 decrease)

FY08 Budget $3,781,116.46 ($281,891.08 increase)

(Increases due to reallocation of funds from ODCTE, TANF & TIPS increases.)

Additional Information Regarding New TIF (Tax Increment Financing) District:

Jackson County $106,427,770** ($109,339,611)

**$2,911,841 of property valuation is included in a Tax Increment Financing District (aka Bar S District) and can not be included in values for budget figures. Ad valorem growth revenues go to pay off improvements to include a new electrical sub-station for the City of Altus. A loss of revenue of $33,777.35 (10.16 mills) for SWTC. Estimated payout time for the TIF is dependent upon cost of sub-station and amount of ad valorem growth in the TIF district but estimated at fifteen years.

FY06 SWTC Local Ad Valorem Values $114,983,737

FY07 SWTC Local Ad Valorem Values $113,576,856

FY08 SWTC Local Ad Valorem Values $115,484,013 ($500,276 increase

over FY06)

Southwest Technology Center

711 W. Tamarack

Altus, Oklahoma 73521

Serving Altus, Blair, Duke, Eldorado, Granite, Navajo and Olustee

Historical Perspective on Budget/Revenue

Fiscal Year Budget Total Revenues Received Fund Balance

FY02 $3,591,970.73 $3,665,719.45 $754,367.80

FY03 $3,643,544.44 $3,657,047.62 $801,748.25

FY04 $3,512,566.09 $3,665,572.95 $814,248.66

FY05 $3,480,145.58 $3,652,066.23 $819,360.48

FY06 $3,511,225.19 $3,626,382.17 $744,712.57

FY07 $3,499,225.38 $3,771,183.23 $713,634.20

FY08 $3,781,116.46

FY07 Budget $3,499,225.38 ($11,999.76 decrease)

FY08 Budget $3,781,116.46 ($281,891.08 increase)