Monthly Financial Report. June Table of Contents. 4. Statement of Revenues and Expenditures

Transcription

1 Monthly Financial Report June-2018 Table of Contents Page Number 2. Fiscal Year 2018 Budget 3. Financial Statement Category Definitions 4. Statement of Revenues and Expenditures 5. Revenue Variance Analysis 6. Expenditure Variance Analysis 7. Investments Statement 8. New Program Report 9. New Program Detail

2 Fiscal Year 2018 Budget FY 2018 FY 2018 Original Budget Revised Budget Amendments Budget Revenues Ad-Valorem Taxes 37,969,389 37,969,389 Investment Income 333, ,000 Revenue Maximization 45,300 45,300 Administrative Services Organization 410, , ,000 Other Partner 160, , ,000 Miscellaneous Income 5,000 54,787 59,787 Total Revenues 38,922, ,787 39,527,476 Expenditures Program Expenditures: Program (Continuation ) 31,415, ,000 31,715,126 New Program (unallocated) 2,200, ,000 2,450,000 Total Program Expenditures: 33,615, ,000 34,165,126 Operating Employee Salaries and Benefits 3,621,750 50,387 3,672,137 Contracted Professional Services 356, ,420 Facility Expenditures 307,131 4, ,531 Other Operating 297, ,262 Total Operating 4,582,563 54,787 4,637,350 Mandatory Government Fees 1,093, ,093,213 Total Expenditures 39,290, ,787 39,895,689 Net Spend Down of Fund Balance (368,213) 0 (368,213) 3% 3% 8% 86% Total Program Expenditures Mandatory Government Fees Direct Operating Expenditures Administrative Operating Expenditures 2

3 Financial Statement Category Definitions Revenue Ad-Valorem Taxes includes current and delinquent ad-valorem tax revenue and excess fees returned to the Children s Board originally paid to the county based on the tax revenue. Investment Income includes revenue from various interest-bearing accounts. Revenue Maximization funding includes earnings generated when the Children s Board matches revenue from federal and state funding sources. This currently includes Department of Children and Families (DCF) adoption support. Administrative Services Organization (ASO) funding represents contributions from other funders specifically designated for use by providers in the community managed by the Children s Board ASO staff. These dollars are also included in the program expenditure line. Examples are Department of Children and Families and Hillsborough County funding. Other Partner funding represents funds contributed from community partners that are added to our provider contract amounts and included in the program funding line, for example the School District of Hillsborough County. Miscellaneous Income consists of contributions, and any other miscellaneous revenue received during the year. Expenditures Program represents provider contracts funded by Children s Board, property tax revenue and funds contributed from our community partners. This amount also includes the dollars managed through the ASO. New Program (unallocated) includes dollars budgeted for new program contracts and one time funding that will be released and awarded by a competitive or application process. Employee Salaries and Benefits include wages paid to all non-contractor employees. Benefits represent costs provided for salaried and hourly wage employees such as FICA, health insurance, unemployment, and retirement. Contracted Professional Services represents amounts budgeted for information technology, Hillsborough County Television, legal, media buys, auditing, Civil Service fees, and other professional services. Also included are support activities with provider agencies and community organizations for training events. Facility Expenditures represents necessary costs to operate the Children s Board offices and conference center including utilities, information technology, maintenance, and repairs. Other Operating contains staff training, conference and meeting travel, postage, insurance, promotional activities, printing, supplies, advertising for Truth In Millage (TRIM) budget ads and other public notices, memberships and subscriptions. Capital Expenditures include the budget for the building expenditures (A/C unit and roof repair). No capital expenditures are budgeted for FY Mandatory Government Fees include tax collector s fee, property appraiser s fee as well as the city storm water fee. 3

4 June-2018 Statement of Revenues and Expenditures FY 2018 YTD FY 2018 FY 2018 FY 2018 Budget YTD Actual Variance $ Variance % Revenues Ad-Valorem Taxes 37,828,139 38,313, ,551 1% Investment Income 249, , , % Revenue Maximization % Administrative Services Organization 307, ,839 45,339 15% Other Partner 160, , % Miscellaneous Income 3,750 6,268 2,518 67% Total Revenues 38,549,139 39,343, ,361 2% Expenditures Program Expenditures: Program (Including Unallocated) 24,230,043 16,446,974 7,783,069 32% Total Program Expenditures: 24,230,043 16,446,974 7,783,069 32% Operating Expenditures Employee Salaries and Benefits 2,716,313 2,639,639 76,674 3% Contracted Professional Services 267, ,240 93,075 35% Facility Expenditures 233, ,815 66,207 28% Other Operating 237, ,514 89,911 38% Total Operating 3,454,075 3,128, ,867 9% Mandatory Government Fees 1,012, ,285 26,647 3% Total Expenditures 28,697,050 20,561,467 8,135,583 Net Cash Flow 9,852,089 18,782,033 8,929,944 4

5 Revenue Variance Analysis June-2018 Statement of Revenues FY 2018 YTD FY 2018 FY 2018 FY 2018 Budget YTD Actual Variance $ Variance % Revenues Ad-Valorem Taxes 37,828,139 38,313, ,551 1% Investment Income 249, , , % Revenue Maximization % Administrative Services Organization 307, ,839 45,339 15% Other Partner 160, , % Miscellaneous Income 3,750 6,268 2,518 67% Total Revenues 38,549,139 39,343, ,361 2% Ad-Valorem Taxes o This line is within budget. One hundred percent of the budgeted revenue has been received. Investment Income o The interest received year to date is higher than expected because the current interest rate of 2.11% is higher than the budgeted rate of 1.00%. Revenue Maximization o CBHC will not receive the budgeted Department of Children and Families revenue this year because the Heart Gallery did not apply for continuation funding. Administrative Services Organization o ASO expenditures related to other ASO funders were more than budget resulting in higher recognized revenue. The BOCC Homeless Prevention project began in November, invoiced on a quarterly basis and $271,036 of the $300,000 has been spent and received. Other Partner o This line is within budget. CBHC has received all of the funding from the School District of Hillsborough County. Miscellaneous Income o This includes insurance safety incentives at 50% of dollars spent on safety items. This line item also includes re-payment of prior year unallowable expenses that are identified at site visits. 5

6 Expenditure Variance Analysis Statement of Expenditures June-2018 FY 2018 YTD FY 2018 FY 2018 FY 2018 Budget YTD Actual Variance $ Variance % Expenditures Program Expenditures: Program (Including Unallocated) 24,230,043 16,446,974 7,783,069 32% Total Program Expenditures: 24,230,043 16,446,974 7,783,069 32% Operating Employee Salaries and Benefits 2,716,313 2,639,639 76,674 3% Contracted Professional Services 267, ,240 93,075 35% Facility Expenditures 233, ,815 66,207 28% Other Operating 237, ,514 89,911 38% Total Operating 3,454,075 3,128, ,867 9% Mandatory Government Fees 1,012, ,285 26,647 3% Total Expenditures 28,697,050 20,561,467 8,135,583 Program Expenditures o This line item is under budget because: $1,461,928 of the $2,450,000 new allocated program dollars have not been contracted for at this time, with very little of the funding awarded having been expended. Some of the providers are not current on their reimbursement requests. $1,131,305 of the $31,415,126 continuation funding budget was not contracted for on October 1 st. Employee Salaries and Benefits o This line is under budget because of vacant positions. There is one vacant position and one new vacant ASO position at this time. Contracted Professional Services o This line item is under budget because of the timing of legal services, community education & awareness and other professional services expenditures. Facility Expenditures o This line item is under budget because of Building Repairs/Supplies Maintenance Services and Facilities Maintenance Contracts/Inspections are lower than expected. Some larger projects will happen later in the year. Other Operating o This line item is under budget because of timing of payments for travel, professional development, printing, office supplies-small equipment, promotional activities, and training and events expenditures. Mandatory Government Fees o These fees are within budget as expected. 6

7 Children's Board Of Hillsborough County Investments Statement June-2018 Investment Instrument Financial Institution Balance Maturity Yield Checking LGIP Wells Fargo Government Advantage Florida State Board of Administration 2,051,452 1 day 0.35% 38,327,404 N/A 2.11% 40,378,856 7

8 Children's Board of Hillsborough County FY 2018 NEW PROGRAM FUNDING (UNALLOCATED) REPORT Beginning Budget Adjustments Revised Budget YTD Amount Approved YTD Uncommitted Funds Available Current Requests Uncommitted Funds Available Not 130, ,000 98,693 31,307 31,307 70,000 70,000 20,173 49,827 49,827 Emerging Needs 300, ,000 95, , ,750 Emergency 200, ,000 83, , ,244 Match 200, ,000 5, , ,000 Healthy & Safe 800,000 (250,000) 550, , ,000 Grant (Ready to Learn) - 250, , , Mobile Swim RFQ Release 250, , , , ,769 Leading (Summer ) 250, , , , , ,031 Totals 2,200, ,000 2,450, ,072 1,461,928-1,461,928 Original Continuation Budget 31,415,126 Actual Contract Amount Negotiated 30,705,367 Amount Remaining 709,759 Amendment 421,546 Additional Amount Available 1,131,305 8

9 FY 2018 Approved Uncommitted Program Detail Agency Program Description Not Emerging Needs Emergency Match Healthy & Safe Grant Ready to Learn Mobile Swim RFQ Release Leading Summer Florida 1.27 Incorporated Live The Promise: Florida Hispanic Services Council, La RED De Padres Inc. Activos Learn Tampa Bay, Inc. Instruments of Change Hillsborough County Anti Drug Alliance, Inc. Bethany Christian Services of Florida, Inc. Show Our Best Colors Instruments of Change Not provided Safe Families for Children Recruiting, training, and supporting faith-based organizations in Hillsborough County to commit their existing resources (people, communication systems, and facilities) to care for both the children in Out of Home Care and the temporary families that serve these children. The program will support children and families by providing training using the Live the Promise curriculum and develop wraparound resources to support foster care families, while also collecting pilot data using the model locally. 37,500 Expand service capacity to support families relocating to Hillsborough County due to 2017 recent storms. Serve 100 additional families. 83,756 To purchase (1) laser printer, toner and necessary accessories to be used by program staff. 5,000 to purchase (1) laptop, 5x Tablets, supplies, and necessary accessories to be used with students and by Program Director. 2,890 to purchase the Life Skills curriculum and staff development training. 4,160 to purchase (1) laptop, (2) tablets, (1) LCD projector and (1 stand, (1) carrying case, a remote, and other accessories to be used by staff in support of volunteer recruitment and training by staff. 3,872 9

10 FY 2018 Approved Uncommitted Program Detail Agency Program Description Not Emerging Needs Emergency Match Healthy & Safe Grant Ready to Learn Mobile Swim RFQ Release Leading Summer Bikes for Christ, Inc. Bikes 4 Christ for organizational Board training and development. 5,000 Positive Family Partners, Inc. PFP Technology To purchase (3) laptops, warrantees, necessary accessories to be used by staff, and replenishing children's books in support of the special needs lending library to be used by staff or families. 5,000 Florida Museum of Photographic Arts Little Kids/Big Minds Funds requested to purchase (4) tablets to be used by staff with students and consultant costs to develop and implement educational curriculum. 5,000 Oasis Network Of New Tampa, Inc. Oasis Project Funds to purchase office supplies including carts, bins, and shelving to support the agencies new online ordering delivery system. Funds will inpart fund a CCAT organizational assessment. 2,626 Kids Doing Business Academy Prep Beyond the Bell Funds to purchase (10) laptops for use by students and consultant services to complete an organizational strategic planning process. 5,000 Stepping Stones, Inc. Project STEP to develop fundraising marketing materials, building signage, notecards, branded shirts in support of revenue generating efforts. 4,100 Enterprising Latinas, Inc. EL Technology Upgrade requested to purchase (2) computers, remote server access, IT security, and necessary accessories for use by agency staff. 3,632 Women's Resource Center, Not provided to purchase branding, fundraising, and website development consulting services. 5,000 10

11 FY 2018 Approved Uncommitted Program Detail Agency Program Description United Food Bank Of Plant City Tampa Bay and Family Development Corporation A Brighter Wheels of Success Mama Africana Network, Inc. Tampa Metropolitan YMCA Not provided Bethesda Brighter IT Upgrades Not provided Not provided Not Funds requested to purchase a client data tracking system and licensing (Apricot). 4,140 Funds to purchase (1) laptop for use by staff, QuickBooks subscription, and website upgrades. 3,500 Funds to purchase (6) computers/monitors, (5) child-size mice, (1) NAS server, printer, and necessary accessories to be used by the students. 4,350 Funds to purchase (5) computers, web camera, (1) laptop, wireless keyboard, Techsoup membership, Survey Monkey subscription, and necessary accessories to be used by staff. 3,941 Project seeks to complete a strategic plan, board governance training, and agency marketing material upgrades. 5,000 Emerging Needs Emergency Match Healthy & Safe Grant Ready to Learn Mobile Swim RFQ Release Mobile Swim and Education Mobile swim and education services. 114,231 Leading Summer Foundation Early Childhood Collaboration of Hillsborough County The Early Childhood Collaboration of Hillsborough County will develop a collective impact model and report to promote the importance of early childhood education focused on parent engagement, families who are not using existing programs, and improving the quality of existing programs. 37,950 11

12 FY 2018 Approved Uncommitted Program Detail Agency Program Description Boys and Girls Clubs of Tampa Bay, Inc. Boys and Girls Summer Camp at Greco Middle School Not Emerging Needs Emergency Match Healthy & Safe Grant Ready to Learn Mobile Swim RFQ Release Leading Summer Grade 6-8 all day program will include lunch, snack and enriched programming in arts, safety, literacy, STEM, sports and character development. Total contract $25,515. BOCC funding $12, ,515 The Family Enrichment Center, Inc. Hillsborough College Foundation, Inc. Housing Authority of the City of Tampa, Inc. FEC Summer Reading and Enrichment Program HCC Kids College Oaks at Riverview Program will provide safe, affordable and accessible educational and enrichment services to students who are 6 to 14 years old. Experienced teachers/staff assess each child upon program entry and provide hands-on learning with the goal of minimizing summer skill loss in reading, math, science and technology. Total contract $29,809. BOCC funding $14, ,809 Students in grades K-5 will receive a network of services at the HCC Ybor Campus Collaboration Studios that target six focus areas of youth development: arts, sports, character building, literacy, safety, and STEM. Total contract $27,799. BOCC funding $13, ,799 Children ages 6-14 will be in a safe and healthy environment, fostering physical, emotional, and educational well-being with intensive programming in the Children s Board s six focus areas. Total contract $28,360. BOCC funding $14, ,360 12

13 FY 2018 Approved Uncommitted Program Detail Agency Program Description Tampa Bay and Family Development Corporation d/b/a Bethesda Ministries UpWard Kids Tampa Metropolitan Area YMCA, Inc Summer Teen Achievers Program: Kingdom Kids of Tampa Bay KKTB Assessment Faith Action Ministries Alliances, Inc. Mentoring W/ Purpose FAMA Training MWP Life Lessons Andrew Joseph Foundation AJF Capacity Vsa Florida Bess The Book Bus Echo of Brandon Inc. VSAFL Branding BBB Media Project ECHO Technology Not Emerging Needs Emergency Match Healthy & Safe Grant Ready to Learn Mobile Swim RFQ Release Leading Summer Program will offer children ages 6-14 activities in arts, sports, character building, literacy, safety, and STEM in six sites located in 33605, 33010, and Total contract $30,000. BOCC funding $15, ,000 The program increases academic performance and career development of at-risk youth ages through an array of support and enrichment programming in an effort to facilitate successful grade promotion. Total contract $28,626. BOCC funding $14, ,626 SWAT Analysis/ organizational assessment, Short strategic planning organization policy manual revision. 5,000 Board Governance Training, Strategic planning, leadership coaching, program development. 5,000 (10) tablets for use by students, Consultant services for training and curriculum Installation. 4,231 Board governance training, strategic plan development, leadership training, work plan, fund development training. 4,250 Organizational rebranding and updated messaging platform. 5,000 Website development, organizational promotional video production, social media management coaching. 5,000 (12) computers total (5x for Staff, 2x for Volunteers, 3x for Client, 2x Opportunity Center). 4,650 13

14 FY 2018 Approved Uncommitted Program Detail Agency Program Description Not Brandon (3) tablets for use by clients, Outreach Clinic TOC consultant services. 3,557 Girls On The Run Florida Institute For Studies GOTR FICS Cyber Makeover Organizational strategic planning and leadership training. 5,000 Consultant services to update Google base website, social media platform upgrades. 4,967 Emerging Needs Emergency Match Healthy & Safe Grant Ready to Learn Mobile Swim RFQ Release Leading Summer Boys and Girls Clubs of Tampa Bay, Inc. Boys and Girls Summer Camp at Wimauma Grade 2nd 5th all day program will include lunch, snack and enriched programming in Arts, Safety, Literacy, STEM, Sports and Character Development. Total contract $ BOCC funding $12, ,961 Florida Education Fund Redefiners World Languages, Inc. Wimauma Summer Language Immersion and Technology Camp Students will learn to code and make artwork as they create working video games; play sports; practice reading; learn first-aid and money management tips; prepare for middle, high school and college; and participate in weekly field trips. Total contract $20,724. BOCC funding $10, ,724 A STEAM camp with hands-on and interactive learning fit for the summer fun. Early Drop Off and Late Pick Up Available, Camp located inside University Mall. June 4-July 13th; 9:00 AM - 3:00 PM Designed for ages Total contract $16,487. BOCC funding $8, ,487 14

15 FY 2018 Approved Uncommitted Program Detail Agency Program Description Tampa and Family Development d/b/a Bethesda Ministries Tampa Heights Junior Civic Association, Inc. University Area Development Center Outer Limits Tampa Heights Summer Youth DreamCatchers Not Emerging Needs Emergency Match Healthy & Safe Grant Ready to Learn Mobile Swim RFQ Release Leading Summer The program is partnering with Bethel in Temple Terrace and St. Mary in Plant City to provide Summer Services in art, character development, dance, sports, and STEM activities plus field trips for children ages Total contract $29,183. BOCC funding $14, ,183 The summer youth program will be based in Tampa Heights and Spoto High School that will continue to provide enhancements to existing services by incorporating new evidence-based curriculum, and parental engagement activities. Total contract $29,040. BOCC funding $14, ,040 The camp ensures that families in the University Area have a positive, educational summer experience. The camp serves children ages 6 to 12 at three locations, Mort Recreation Center, Roy Haynes Recreation Center and Egypt Lake Recreation Center. Total contract $29,465. BOCC funding $14, ,465 15

16 FY 2018 Approved Uncommitted Program Detail Agency Program Description Not Emerging Needs Emergency Match Healthy & Safe Grant Ready to Learn Mobile Swim RFQ Release Leading Summer Children's Museum of Tampa, Inc. D/B/A Glazer Children's Museum Girl Scouts of West Central Florida, Inc. Florida Association for Infant Mental Health Play Tampa Bay Girl Scout Sprouts Infant Mental Health Endorsement Play Tampa Bay is an outreach program of the Glazer Children s Museum to provide community based early learning classes in Plant City, Seffner/Mango, Thonotosassa, East Tampa, and West Tampa. The program serves young children and their caregivers using the power of play to address the Children s Board Ready to Learn and Succeed focus area. 250,000 Funds will support membership fees for 200 girl scouts. 5,000 Infant Mental Health Endorsement Coordinator to provide outreach. 19,800 TOTAL 98,693 20,173 95,250 83,756 5, , , ,969 Total Approved 988,072 Total Current Requests - 16