Projected Expenditure Report for the Year Ended 6-30-05

Revenues

	Object Code	Actual Rcvd/ Paid	Estimated Accrual	Projected  Final Number
Interest Income	8860	91,941		91,941
Other Financing Sources	8900	355,384		355,384
Bond Proceeds	8940	20,000,000		20,000,000
		20,447,325	0	20,447,325

Expenditures

	Object Code	Actual Rcvd/ Paid	Estimated Accrual	Projected  Final Number
Elections	5720	79,020		79,020
Bond Proceeds Management	5880	355,384		355,384
Project Management	5885		8,000	8,000
Project Administration	5888	9,087		9,087
Other Services	5890	2,535		2,535
Site Acquisition	6110	4,160,000		4,160,000
Escrow Costs	6119	3,579		3,579
Site Support Costs	6124	842	2,600	3,442
Surveying Costs	6127	3,030		3,030
Other Costs - Site	6170	22,423	7,461	29,884
Architect & Engineering Fees	6213	53,431	43,486	96,917
Construction Management Fees	6216	18,900	0	18,900
Other Costs - Planning	6240	3,092	436	3,528
		4,711,323	61,983	4,773,306
Projected Ending Balance		15,736,002	(61,983)	15,674,019

Notes to the Financial Statements - Dated 6/30/05

Object 8900 – Other Financing Sources

The selling price of the bonds was higher than the face value of the bonds by $535,984.92. Of this amount, $355,384.18 was used to pay for the costs of issuing the bonds. The remaining funds were deposited into the Bond Interest and Redemption Fund for future debt service payments.

Object 5720 – Elections

This represents SFID #1’s share of the amount invoiced by the Placer County and Nevada County Clerk’s offices to the District for election services for the November 2, 2004 General Election.

Object 5880 – Bonds Proceeds Management

This represents the cost of issuing the bonds and includes such fees as bond insurance, bond counsel and underwriting (see object 8900 – Other Financing Sources).

Object 5890 – Other Services

These are filing fees and other costs related to forming the School Facilities Improvement District.

Object 6170 – Other Costs – Site

Legal fees and other costs incurred to draw up the site purchase agreement and conservation easement documents.

Object 6240 – Other Costs Planning

Printing and reprographics.