Financial Report May 2017

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Aron Howard
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1 Financial Report May 2017 Dr. Lisa Remy, Paul Bobek, and Donna Beerman Attached are the monthly financial reports for the 10 months ending May 31, Please note the budgeted expenditures include horizontal lane changes and current personnel. REVENUE: Total budgeted revenue for fiscal year 2017 is $107,250.9, which is up $837.9 from fiscal year The primary factors contributing to this increase are: Interest Income revenue reflects West Bank negotiated rates of 125 basis points on the first $50 million and 100 basis points on the amount in excess of $50 million. State Foundation Aid The State distributes 10 equal payments, starting in September. Thus, at May 31, 2017, 9 of the 10 payments have been received. Other Local Sources Health and dental insurance premium revenue is being deposited into the General Fund instead of the Self-Funded Health Insurance Fund. $5,891, has been deposited as of May 31, Premiums collected are health insurance (5,462,281.04), dental insurance (428,313.14), and COBRA insurance (1,197.72). No single item accounts for the higher percentage realized year to date. These accounts are primarily textbook fees and miscellaneous income. The above three items account for the increase in Fiscal Year 2017 total revenue of $107, EXPENDITURES: The budget increased $4,988,125 per Board commitment to fund curriculum adoption. 1. Contracted Instructional Services: Core Curriculum staff development (154,225), Teacher Quality Professional Development (127,318), YJI contract with City of West Des Moines (77,778) Level 3 special education interpreting services (75,799), Level 3 special education staff development (89,196) district-wide contracted nursing services (536,542), Title 1 staff development (133,770), Teacher Leadership Compensation staff development (76,115), Voluntary Preschool providers (387,250), Walnut Creek Campus contracted social worker (167,167) and Walnut Creek Campus nursing services (47,996) are large program expenses. 2. Contracted Professional Services: Audit services (49,900), Special education nursing services (185,574), Siemens building automation (40,994), Title 1 Sylvan Learning (71,379) district-wide Technology contracted services (162,538), Title 1 After School Program (60,705), and Valley High School parking security (111,310) are large program expenses.

2 3. Utilities: Utility consumption has increased 10% (175,781) over this time last year. 4. Maintenance and Repairs: 25% increase (92,780) in expense as compared to this time last fiscal year. Transportation vehicle repair (62,328), Stilwell building repair (14,277), Valley band equipment repair (13,340), Valley HVAC repair (20,844), Valley building repair (52,462), and Valley electrical repair (17,800) are large program expenses. 5. Non-Public Transportation: reimbursement to parents has been processed. 6. Printing, Postage & Phone: Expenses have increased 11% (28,734) compared to this time last year. 7. Sp. Ed. Tuition: Compared to this time last fiscal year, 2017 special education tuition (730,455) exceeds 2016 special education tuition (394,451). 8. Other Tuition Out/Open Enrollment Out: During last year s legislative session, a law was passed which changes the frequency of open enrollment billing to semesters, instead of quarterly billing. Because of timing, tuition out has decreased 44% (1,184,410) compared to this time last fiscal year. 9. Travel & Mileage Reimbursement: Compared to this time last fiscal year, travel has decreased 39% (130,616). Travel has been financed through categorical grants. 10. Supplies: 16% decrease (273,910) in expenses compared to this time last fiscal year. Special Education level 2 instructional supplies (69,426), Print Shop paper supplies (68,358), Physical Education curriculum instructional supplies (45,613), Science curriculum supplies (256,796), DMACC classes instructional supplies (28,098), Valley PE instructional supplies (19,310) and Valley Southwoods building instructional supplies (48,974) are large program expenses. 11. Textbooks: Expenses decreased 24% (13,045) in comparison to this time last fiscal year. 12. Workbooks, Library Books & Software: The purchase of Human Resources software (10,420), Technology (131,580), and Math consumable workbooks (108,323) represent the largest program expenses. 20% increase in expense compared to this time last fiscal year. 13. Transportation Fuel & Parts: Expenses in FY 2017 have increased 24% compared to this time last fiscal year. 14. Operations Parts/Supplies: FY 2017 expenses have decreased 8% compared to this time last fiscal year. 15. Buses, Equipment & Furniture: Special Education level 2 furniture (11,156), Special Education level 2 computers (18,678), Special Education bus purchases (226,274), Clive NTN furniture (7,705) and Crestview NTN furniture (12,500) are large program expenses in FY Dues & Miscellaneous: FY 17 expenses have decreased 4% compared to this time last fiscal year.

3 Financial Summary For the Month and Eleven Months Period Ended May 31, 2017 $ in 000's Funds that Receive Property Tax Revenues General Management PPEL PERL Activity Sales Tax Nutrition Community Self- Education Insurance Current Month Activity Revenues* $9,941 $109 $310 $24 $145 $623 $374 $288 $340 Expenses* $8,358 $82 $4,763 $48 $159 $441 $400 $212 $1,900 July 1, 2016 Fund Balance $20,693 $11,034 $5,481 $334 $1,121 $16,844 $604 $692 $19,014 Revenues* $106,097 $2,666 $7,880 $603 $1,628 $6,883 $3,712 $2,794 $9,105 Expenses* ($82,218) ($2,824) ($6,258) ($478) ($1,418) ($10,784) ($3,549) ($2,492) ($16,867) May 31, 2017 Fund Balance $44,572 $10,876 $7,103 $459 $1,331 $12,943 $767 $994 $11,252 May 31, 2016 Fund Balance $34,838 $10,946 $5,149 $352 $1,331 $17,418 $1,121 $892 $19,628 (for comparison purposes) Revenues* as % of 99% 107% 100% 100% 76% 76% 95% 90% 60% Expenses* as % of 75% 115% 83% 78% 66% 75% 91% 74% 106% * Includes interfund transfers Monthly Fund Financial Summary xlsx 6/16/2017

4 General Fund Expense Summary Through 5/31/2017 $ in thousands FY17 FY17 FY17 FY16 FY16 FY16 FY16 as % of as % of EOY % Increase 2017 vs 2016 Salaries/Wages Certified Staff 29, , % 75.3% 28, , , % Teacher Quality / Phase 1 & 2 3, , % 71.4% 3, , , % Substitute Teachers 1, , % 86.7% 1, , , % Subtotal - Certified Staff 34, , % 75.2% 32, , , % Teacher Assistants 4, , % 86.6% 3, , , % Administrators 3, , % 91.5% 3, , , % Secretaries, Media Asst, Technicians 2, , % 85.2% 2, , , % Operations and Transportation 3, , % 85.4% 3, , , % Total Salaries & Wages 47, , % 78.3% 45, , , % Benefits Insurance Benefits 9, , % 80.4% 9, , , % Other Benefits (FICA, IPERS, TSA's, etc) 8, , % 78.6% 8, , , % Total Benefits 18, , % 79.5% 17, , , % Total Compensation 65, , % 78.6% 63, , , % Contracted Instructional Services 2, , % 80.4% 1, , , % Contracted Prof Services 1, , % 90.9% , , % Utilities 1, , % 82.4% 1, , , % Maintenance & Repairs % 78.1% % Non-public Transportation % -1.0% % Printing, Postage & Phone % 77.8% % SpEd Tuition / OE out % 34.0% , , % Other Tuition out / OE out 2, , % 81.1% 3, , , % Travel & Mileage Reimbursement % 91.8% % Supplies 1, , % 64.1% 1, , , % Textbooks % 84.2% % Workbooks, Library Books & Software % 66.6% % Transportation Fuel & Parts % 79.8% % Operations Parts/Supplies % 75.5% % Buses, Equipment & Furniture % 78.8% % Dues & Miscellaneous % 82.8% % Total Non-Personnel Costs 12, , % 74.0% 13, , , % Total, Excl. Transfers and AEA 78, , % 77.8% 76, , , % Interfund Transfers % 100.0% % AEA Flowthrough 3, , % 100.0% 3, , , % 3, , % 100.0% 3, , , % Grand Totals 82, , % 78.6% 80, , , %

5 General Fund Revenue Summary Through 5/31/2017 $ in thousands FY17 FY17 FY17 FY16 FY16 FY16 FY16 as % of as % of EOY % Increase 2017 vs 2016 Property Taxes 46, , % 99.7% 45, , , % Tuition and Fees 4, , % 66.1% 3, , , % Interest Income % 87.3% % Other Local Income 6, % 88.2% % Subtotal - Local Sources 58, , % 95.9% 50, , , % AEA / Prairie Meadows #DIV/0! 100.0% % State Foundation Aid 30, , % 90.0% 30, , , % State Teacher Leadership Compensation 2, , % 90.0% 2, , , % State Early Intervention % 90.0% % State Voluntary Preschool , % 89.5% , , % Other State Sources 7, , % 88.7% 7, , , % Subtotal - State Sources 41, , % 89.7% 41, , , % Title , % 87.8% % Medicaid Reimb./IDEA Part B 1, , % 79.9% 1, , , % Other Federal Income % 64.8% % Subtotal - Federal Sources 1, , % 79.4% 2, , , % Interfund Transfers and Other % 76.7% % Revenue, excl. AEA flow-through 102, , % 92.6% 95, , , % AEA Flow-through 3, , % 100.0% 3, , , % Total General Fund Revenue 106, , % 92.9% 98, , , %

Park City School District

Park City School District The General Fund Current as of: May 30, 2012 Summary Statement of,, and Changes in Fund Balances : Local Sources $ 37,553,731 $ 36,808,640 $ 37,988,643 $ 1,180,003 3% State Sources 2,829,958 2,723,896