Tipp City Exempted Village Schools. Miami County

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Tipp City Exempted Village Schools Miami County Monthly Financial Report March 2015 Contents: March 2015 Bank Reconciliation March 2015 Interest

1 Tipp City Exempted Village Schools Miami County Monthly Financial Report March 2015 Contents: March 2015 Bank Reconciliation March 2015 Interest Monthly Financial Report 3 Year History Monthly Financial Report Budget vs. Actual March 2015 Financial Report by Fund Gina M. Helmick, CPA, Treasurer/CFO

2 Tipp City Exempted Village School District Bank Reconciliation March 2015 Fund Balances per Board Books: General and Emergency Levy Fund 7,335, All Other Funds 2,069, $ 9,405, Bank Statement Balances: JP Morgan Chase - Operating 1,153, JP Morgan Chase - Savings 1,005, Petty Cash Funds 17, Deposits In Transit / Receipt In Transit Outstanding Checks (333,233.00) Interest (3,218.01) Fees - Adjustments - Adjusted Bank Balances: 1,840, Investments: STAR Ohio 0.05% 4,305, STAR Plus Variable 2,500, /3 Money Market 0.01% 209, /3 FHLB Bond 1.00% 300, Due 9/30/19 5/3 Bank Baroda - CD 1.10% 250, Due 11/29/16 Total Investments: 7,564, Total Bank Balances and Investments: $ 9,405, I hereby certify the above to be true and accurate. 1 4/27/2015 Regina M. Helmick, Treasurer/CFO

3 Tipp City Exempted Village School District Investment Income Report March 31, 2015 Settlement Maturity Investment Issuer Date Date Yield Investment Income JP Morgan Chase - Operating Account DAILY Variable 0.35% 1,153, JP Morgan Chase - Savings Account DAILY Variable 0.01% 1,005, STAR Ohio DAILY Variable 0.05% 4,305, STAR Plus DAILY Variable Variable 2,500, Fifth Third Securities - Money Market DAILY Variable 0.01% 209, Fifth Third Securities - FHLB Bond 9/25/2014 9/30/ % 300, , Fifth Third Securities - CD 11/29/ /29/ % 250, Total Investment Income $ 3, Investment Income Distribution: General Fund 3, Total Investment Income $ 3,

4 Tipp City EVSD Monthly Financial Report - 3 Year History March General Fund Only March March March Revenue General Property Taxes $1,801,095 $1,972,237 $2,323,094 Public Utility Personal Property $221,416 $0 $0 Unrestricted Grants-in-Aid $757,350 $404,064 $562,757 Restricted Grants-in-Aid $2,510 $0 $2,991 All Other Operating Revenue $191,478 $77,138 $79,747 Total Revenue $2,973,849 $2,453,439 $2,968,589 Other Financing Sources Advances-In $0 $0 $0 All Other Financing Sources $0 $0 $0 Total Other Financing Sources $0 $0 $0 Total Revenue & Other Financing Sources $2,973,849 $2,453,439 $2,968,589 Expenditures Personal Services $968,331 $963,478 $951,069 Employees' Benefits $348,617 $348,266 $474,039 Purchased Services $186,072 $151,195 $258,609 Supplies and Materials $35,644 $49,468 $18,465 Capital Outlay $83,601 $1,268 $1,728 Other $213,425 $183,187 $107,496 Total Expenditures $1,835,690 $1,696,862 $1,811,406 Excess Revenue over (under) $1,138,159 $756,577 $1,157,183 Expenditures Beginning Cash Balance $6,197,138 $4,110,652 $2,139,310 Ending Cash Balance $7,335,297 $4,867,229 $3,296,493 3

5 Tipp City EVSD Monthly Financial Report - 3 Year History March General Fund Only Revenue Notes: Taxes Settlement of February 2015's real estate taxes. Unrestricted Grants In Aid - State Foundation State began funding us based on current year enrollment numbers beginning with the March #2 payment. Regular enrollment numbers are up by 46 students over last year's numbers, however they are less than our estimated increase of 75 students by 29. Open enrollment numbers in are up by 11 students and open enrollment numbers are are down by 10. The net effect is a decrease in estimated funding of approximately $100,000. Additional state funding items of note based on current enrollment numbers: Scholarship transfers out are up by 1.45 students or increase in cost of $29,177. Community school students have increase by 7.37 students or an increased deduction of $59,379. All Other Operating Revenue The state made the adjustment to open enrollment net effect of $50,000 on March #2's payment Receipt of CRA revenue from the City of Tipp City for the Abbott CRA of $37,347. Receipt of TIF revenue from County Auditor for the Randall Residence TIP of $23,900. Expenditure Notes: Other Expenditures Other expenditures have increased year over year due to an increase in support/services provided by the Miami County ESC. 4 Cash Balance Cash balance increased this month due to receipt of tax advances. Year over year balance is greater due to the May 2013 Emergency Levy receipts. $8,000,000 $7,000,000 $6,000,000 $5,000,000 $4,000,000 $3,000,000 $2,000,000 March 2015 March 2014 March 2013 $1,000,000 $0 Total Revenue Total Expenditures Excess Revenue over (under) Ending Cash Balance

6 Tipp City EVSD Monthly Financial Report - Budget vs. Actual March General Fund Only Fiscal March Percent YTD YTD Received Variance Budget Actual Expended Budget vs. Actual Revenue General Property Taxes $11,845,484 $11,976, % $131,077 Public Utility Personal Property $221,416 $221, % $0 Unrestricted Grants-in-Aid $9,947,091 $7,074, % ($2,872,801) Restricted Grants-in-Aid $34,000 $25, % ($8,988) All Other Operating Revenue $870,000 $838, % ($31,871) Total Revenue $22,917,991 $20,135, % ($2,782,583) Other Financing Sources Advances-In $5,000 $5, % $0 All Other Financing Sources $58,000 $69, % $11,798 Total Other Financing Sources $63,000 $74, % $11,798 Total Revenue & Other Financing Sources $22,980,991 $20,210, % ($2,770,785) Expenditures Personal Services $12,603,663 $9,057, % $3,546,376 Employees' Benefits $4,261,208 $3,106, % $474,039 Purchased Services $2,435,600 $1,655, % $258,609 Supplies and Materials $620,148 $397, % $18,465 Capital Outlay $144,810 $114, % $1,728 Other $1,481,314 $1,014, % $107,496 Total Expenditures $21,546,743 $15,345, % $4,406,713 Excess Revenue over (under) $1,434,248 $4,864,731 Expenditures Beginning Cash Balance $6,197,138 $4,110,652 Ending Cash Balance $7,631,386 $8,975,383 Revenue Notes: Revenue is being collected as expected. Our property tax receipts came in higher than estimated. Unrestricted Grants-in-Aid is being received as projected. Still yet to receive in the fiscal year are three more months of foundation, and the remainder of property tax reimbursements and casino tax. Expenditure Notes: With 75% of the fiscal year complete, expenditures are below estimates. Cash Balance Notes: Based on current assumptions, we expect the cash balance to be at our approximately near the current estimate of $3,929,125. 5

7 Date: 04/02/2015 Tipp City Ex Village Schools Page: 1 Time: 8:04 am Financial Report by Fund (FINSUM) TCEVS - MARCH 2015 FYTD MTD FYTD Current Current Unencumbered Begin Balance MTD Receipts Receipts Expenditures Expenditures Fund Balance Encumbrances Fund Balance TOTAL FOR Fund GENERAL: 2,470, ,158, ,843, ,019, ,978, ,335, , ,137, TOTAL FOR Fund BOND RETIREMENT: 1,136, , ,573, , ,434, ,275, ,275, TOTAL FOR Fund PERMANENT IMPROVEMENT: 343, , , , , , , , TOTAL FOR Fund BUILDING: TOTAL FOR Fund FOOD SERVICE: 20, , , , , , , , TOTAL FOR Fund SPECIAL TRUST: 34, , , , , , TOTAL FOR Fund UNIFORM SCHOOL SUPPLIES: 35, , , , , , , , TOTAL FOR Fund OTHER GRANT: 13, , , , , , , , TOTAL FOR Fund DISTRICT AGENCY: , , , , , , , TOTAL FOR Fund UNDERGROUND STORAGE TANK FUND 11, , TOTAL FOR Fund STUDENT MANAGED ACTIVITY: 54, , , , , , , , TOTAL FOR Fund DISTRICT MANAGED ACTIVITY: 107, , , , , , , , TOTAL FOR Fund MANAGEMENT INFORMATION SYSTEM TOTAL FOR Fund SCHOOLNET EQUIP/INFRASTRUCTUR 6 TOTAL FOR Fund EMERGENCY LEVY: , ,367, , ,367, TOTAL FOR Fund PUBLIC SCHOOL SUPPORT: 208, , , , , , , ,057.15

8 Date: 04/02/2015 Tipp City Ex Village Schools Page: 2 Time: 8:04 am Financial Report by Fund (FINSUM) TCEVS - MARCH 2015 FYTD MTD FYTD Current Current Unencumbered Begin Balance MTD Receipts Receipts Expenditures Expenditures Fund Balance Encumbrances Fund Balance TOTAL FOR Fund DATA COMMUNICATION FUND: , , , , TOTAL FOR Fund SCHOOLNET PROFESS. DEVELOPMEN TOTAL FOR Fund MISCELLANEOUS STATE GRANT FUN TOTAL FOR Fund 504: TOTAL FOR Fund RACE TO THE TOP: , , , , , TOTAL FOR Fund IDEA PART B GRANTS: , , , , , , TOTAL FOR Fund 532: TOTAL FOR Fund TITLE I DISADVANTAGED CHILDRE 6, , , , , , , TOTAL FOR Fund TITLE V INNOVATIVE EDUC PGM: TOTAL FOR Fund DRUG FREE SCHOOL GRANT FUND: TOTAL FOR Fund IMPROVING TEACHER QUALITY: , , , , , , TOTAL FOR Fund MISCELLANEOUS FED. GRANT FUND GRAND TOTALS: 4,444, ,544, ,237, ,178, ,277, ,405, , ,838, TOTAL FOR Fund TITLE II D - TECHNOLOGY: TOTAL FOR Fund LIMITED ENGLISH PROFICIENCY: , , , , ,

Tipp City Exempted Village Schools. Miami County

Tipp City Exempted Village Schools Miami County Monthly Financial Report December 2013 Contents: December 2013 Bank Reconciliation December 2013 Interest/Investment Statement Monthly Financial Report 3