OSPI Child Nutrition Services Financial Management Report Jeff Booth, OSPI Financial Analyst Supervisor

Transcription

1 OSPI Child Nutrition Services Financial Management Report 1800 Jeff Booth, OSPI Financial Analyst Supervisor

2 Financial Management Tools Financial Analysis of Food Service Operations Report 1800 Food Service Fund Balance Report

3 Financial Benchmarking Goal Achieve and maintain break-even point for Food Services Department (including indirect costs)

4 What is the Report 1800? Annual Analysis of Public School Food Service Operations

5 Why care about the Report 1800? USDA Requirement 7 CFR (a)(2) File Financial Report with State Annually No More Than 3 months Operating Funds

6 Why care about the Report 1800? Opportunity to evaluate your food service operation Opportunity to work with Food Service Department

7 Where do I find the Report 1800? Yearly Bulletin or Memo

8 Where do I find the Report 1800? OSPI Child Nutrition Web page

9 Where does data for the Report 1800 Where do the numbers come from? come from? The financial data comes from each school districts annual financial report, F-196 Food Services (Program 98) Unrestricted Indirect Rates Meal data comes from the Child Nutrition Database Total Meals Served October Building Data Form 1505 for districts with Food Service Management Companies or inter-district agreements

10 Report 1800 series The Report 1800 series provides the following reports: 1800 A Revenues and Expenditures (in whole dollars) 1800 B Expenditures as a Percent of Revenue 1800 C Expenditures as a Percent of Revenue* 1800 D Expenditures and Revenues per Equivalent Lunch 1800 E Expenditures and Revenues per Equivalent Lunch * 1800 F Percentage of Food And Labor Costs to Total Revenues * 1800 G Breakfast Participation 1800 H Lunch Participation 1800 I 1800 J 1800 K Percentage of Student Participation Breakfast and Lunch Programs Percentage of Student Participation in Breakfast Programs* Percentage of Student Participation in Lunch Programs* *ranked

11 Report 1800 A Revenues and Expenditures Meal Codes B: Breakfast L: Lunch S: Snack C: Food Service Management Company

12 Report 1800 A Revenues and Expenditures Total Revenues Revenue Sources as defined in the Accounting Manual for School Districts

13 Report 1800 A Revenues and Expenditures Expenditures Both Direct and Indirect

14 Where does the indirect rate come from? F-196 Report

15 Report 1800 A Where does the indirect rate come from? F-196 Report

16 Report 1800 A Where does the indirect rate come from?

17 Report 1800 A Revenues and Expenditures Fiscal Year Total Revenues - $359,155,886 Total Expenditures - $386,291,869 Net Loss - $27,135,983

18 Report 1800 A Revenues and Expenditures Fiscal Year districts report a net gain (excess funds must be kept in the Food Service account) 249 districts report a net loss *Use caution when making comparisons between districts. (Many factors affect net gain/ net loss such as indirect rate / economic status of students / type of food served / district operating procedures, etc.)

19 Report 1800 D Report 1800 D Revenue and Expenditures per Equivalent Lunch

20 Report 1800 D Revenue and Expenditures per Equivalent Lunch a la Carte revenue Equivalent Lunches figured by: # of Lunches served # of Breakfasts served 1.5 # of Snacks served 3.0 $2.86 or $2.88 (USDA free lunch reimbursement rate) $ (value of USDA foods)

21 Report 1800 D Report 1800 D Revenue and Expenditures per Equivalent Lunch

22 Report 1800 F Percentage of Food and Labor Costs to Total Revenues Benchmark 80% 85%

23 Food Service Fund Balance Reporting USDA Requirement 7 CFR (a)(2) Excess program income must be used for the non-profit food service program No More Than 3 months Operating Funds Carryover of food service losses is allowed

24 Food Service Fund Balance Reporting Food Service Program Summary Report

25 Food Service Fund Balance Reporting

26 Food Service Fund Balance Reporting

27 Food Service Fund Balance Reporting

28 Food Service Fund Balance Reporting Example A Net Income can be carried forward Limited to three months expenditures

29 Food Service Fund Balance Reporting Example B Individual years deficits may be carried forward a maximum of five years Must demonstrate that any deficiency of revenues is made up using non-federal resources.

30 Food Service Fund Balance Reporting Offsetting Net Income/Net Deficits Example C

31 Questions? Jeff Booth (Report 1800) Paul Stone (Fund Balance Reporting/Accounting)