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<br />Cabarrus County Schools <br /> <br />Budget Information <br />2005 - 06 <br /> <br />* * * BUS FUEL COST UPDATE * * * <br /> <br />I Background Information <br /> <br />I <br /> <br />+ Bus fuel is funded as part of the State Transportation Budget <br /> <br />+ Bus fuel was funded initially at $1.05/gallon <br /> <br />+ January funding adjustment was received to increase budget to $1.45/gallon <br /> <br />+ Current cost to us is $1 .90/gallon <br /> <br />I Projected Budgetary Shortfall <br /> <br />I <br /> <br />+ Projected remaining fuel needed for school year (February - June) <br />42 loads of diesel x 7,500 gallon <br />5 loads of gasoline x 7,000 gallon <br /> <br />315,000 gallons <br />35,000 gallons <br /> <br />Total gallons needed <br /> <br />350,000 <br /> <br />+ Projected fuel costs <br /> 350,000 gallons @ $2.00 (allow for price fluctuations) $ 700,000 <br />+ Fuel budget balance at 1/27/06 301,000 <br />+ Projected Fuel shortfall before local reimbursement for <br /> activity bus fuel usage $ 399,000 <br />+ Projected locally used fuel reimbursement <br /> $10,000/ month x 5 50,000 <br /> Projected bus fuel budget shortfall $ 349,000 <br /> <br />Budget Information, shortfall detail <br /> <br />G-5 <br />