Mundelein School District 75

Transcription

1 Building bright futures together! T. Ferrier, Director of Finance\CSBO 2017 Aug '17 18

2 2017/2018 Financial Review/Executive Summary A message from the Superintendent Mundelein s motto of Start Here; Star Here certainly applies to children who attend District 75 schools. We have four grade level centers where our students shine. Lincoln School currently houses over 300 pre schoolers from Mundelein, Hawthorn, and Fremont. The tridistrict center better prepares children for kindergarten. At Washington School, kindergarteners next year will have the option of becoming bilingual in English and Spanish. Mechanics Grove School was recently awarded national recognition for fostering leadership in its third through fifth graders. At Carl Sandburg Middle School, 80 percent of sixth, seventh, and eighth graders are involved in extracurricular activities including many that serve their Mundelein community. Financial Review/Executive Summary District 75 has a long history of providing innovative and excellent educational programs. A pioneer in providing full day kindergarten, District 75 is still one of the few suburban districts to provide this critically important learning opportunity. Our caring school environments foster lasting friendships among a diverse and multicultural group of students. District 75 parents support and encourage their children s learning and involvement at school. District 75 is fiscally conservative and maintains a balanced budget by actively reducing expenditures. Sharing the expense for technology leadership with Mundelein High School currently saves the district around $100,000 per year. Educating students with special learning needs within the district instead of sending them elsewhere will result in an $800,000 annual savings. Though the cost of living in Mundelein is well above the state average, District 75 is proud to provide a high quality education to its students at a per pupil cost below the state average. A message from the Director of Finance and Operations I am pleased to provide for the Board of Education s review and consideration the attached. Providing monthly reports and analysis is the next step in looking at long term strategies to obtaining and maintaining balanced budgets while effectively and efficiently utilizing available resources to maximize the educational experience ` provided to all students. I hope you will take the time to review the attached, as I believe that it provides helpful information to better understand the financial health of our District. Our District has many exciting initiatives underway to bolster academic programs, provide exceptional learning opportunities for our students, and encourage and engage our community. 1

3 Table of Contents Financial Review/Executive Summary 1 Table of Contents 2 All Funds Year at a Glance (YAAG) 3 Dashboard 5 Operating, Debt, and Capital Funds Comparison 7 Operating Funds Year at a Glance (YAAG) /2018 Table of Contents Debt, Capital & Fire Prev Funds Year at a Glance (YAAG) State Payments and Outstanding Balances Summary ` 2

4 2017/2018 All Funds Year at a Glance (YAAG) All All Funds Year at a Glance (YAAG) MTD YTD FY18 % of Budget YTD FY17 % of As of Aug 17 As of Aug 17 Budget Bdgt Balance As of Aug 16 Prelim YE YE Beginning Fund Balances 0 $ 14,681,069 $ 14,681,069 $ 14,438,437 $ 14,438,437 Revenues by Source Tax Levy $ 294,425 $ 447,507 $ 15,971,728 3% $ 15,524,221 $ 505,381 $ 15,820,603 3% Corporate Taxes (CPPRT) , ,645 19% 83,520 21, ,279 18% Tuition, Registration, and Fees 18,692 23,546 72,720 32% 49,174 20, ,056 15% Earnings on Investments 7,344 14,987 60,658 25% 45,671 5,118 60,233 8% Food Service Revenue 21,260 21, ,042 4% 558,719 47, ,297 8% Other Local & Flow Through Funds 17,047 50, ,209 10% 439, , ,782 18% General State Aid 3,781,694 0% 3,781, ,784 3,187,625 9% State Categorical Payments 215, , ,389 71% 86, ,362 0% State Grants 30, , ,316 80% 74,316 42, ,986 40% Federal Title I Low Income 31,622 31, ,884 16% 169,262 72, ,126 35% Federal Special Education 31,670 31, ,852 16% 164, ,600 0% Other Federal Funds 58,941 79, ,251 31% 174,671 80, ,268 31% Total Revenues $ 727,228 $ 1,235,339 $ 22,386,388 6% $ 21,151,049 $ 1,207,861 $ 22,006,217 5% 3 On Behalf Payments Flow Through 15,000,000 0% 15,000,000 11,000,000 0% Total Revenues & Flow Through $ 727,228 $ 1,235,339 $ 37,386,388 3% $ 36,151,049 $ 1,207,861 $ 33,006,217 4% Expenditures by Object Administration Salaries $ 88,930 $ 177,135 $ 1,101,889 16% $ 924,754 $ 206,180 $ 1,243,526 17% Certified Staff Salaries 350, ,820 7,866,581 4% 7,515, ,836 7,807,302 4% Aide Nurse & Psych Salaries 14,179 14, ,062 3% 552,883 9, ,112 2% Building Support Salaries 56,098 78, ,338 11% 646,686 82, ,399 11% Custodial & Maintenance Salaries 23,208 42, ,546 12% 313, , ,902 16% Stipends Subs & Other Salaries 13,173 13, ,675 2% 555,979 40, ,662 7% Retirement and Social Security 44,015 76, ,619 9% 735,824 81, ,091 9% Employee Insurance 140, ,935 1,827,679 8% 1,682, ,061 2,045,945 15% Other Employee Benefits 5,092 5, ,926 2% 239,472 98, ,996 38% Food Service 400,000 0% 400, ,294 0% Custodial Service 410,000 0% 410,000 31,379 0% Pupil Transportation Service 4,602 24, ,100 3% 690, ,052 0% Technology Service 10,842 18, ,233 13% 120,075 14, ,248 12% Other Purchased Services 143, ,699 1,688,879 13% 1,473, ,764 1,572,223 7% Textbooks 21,281 21, ,810 17% 102,529 11, ,658 7% Utilities 23,294 41, ,100 12% 299,696 39, ,877 12% Supplies & Materials 27,319 97, ,407 15% 545,512 50, ,793 10% Capital Outlay 881 2,255,857 0% 2,254, , ,036 82% Principal & Interest 33,898 34,098 3,299,720 1% 3,265, ,018 1,694,891 10% Tuition 248, , ,000 28% 674,926 23, ,870 3% Other Objects 1,288 3,555 84,717 4% 81,162 1,859 70,152 3% Non Capitalized Equipment 10,585 41,080 26% 30, ,462 2% Termination Benefits 19,849 23, ,000 9% 231,782 31, ,714 13% Total Expenditures $ 1,270,072 $ 1,654,781 $ 25,403,218 7% $ 23,748,436 $ 1,928,985 $ 21,763,585 9% On Behalf Payments Flow Through 15,000,000 0% 15,000,000 11,000,000 0% otal Expenditures & Flow Through $ 1,270,072 $ 1,654,781 $ 40,403,218 4% $ 38,748,436 $ 1,928,985 $ 32,763,585 6% 3 Revenues Less Expenditures (542,844) (419,442) (3,016,830) (721,125) 242,632 Adjustments to Fund Balance Other Financing Sources 5,200, ,115 Other Financing Uses (657,115) Operating Results $ (542,844) $ (419,442) $ 2,183,170 $ (721,125) $ 242,632 Ending Fund Balances $ 14,261,627 $ 16,864,239 $ 13,717,313 $ 14,681,069

5 All TOTAL REVENUES $1.2M PERCENT OF BUDGET BUDGET BALANCE 6% TOTAL EXPENDITURES $21.2M REVENUES EXPENDITURES All Funds Snapshot 6% PY % of Budget % of Budget 5% 2017/2018 All Funds Snapshot PERCENT OF BUDGET BEGINNING BALANCE CHANGE $0.4M THOUSANDS $1.7M BUDGET BALANCE 7% $23.7M $14.7M YTD BALANCE FUND BALANCE $14.3M 7% PY % of Budget -3% PY Fund Balance % of Budget 9% Fund Balance -5% 17% of the fiscal year complete as of August,

6 2017/2018 Dashboard Operating Revenues 6% YTD Grants On Target Total operating revenues are on target from prior year receipts. Up 40% 80% YTD Illinois grant revenues are up 40% from prior year receipts. This is a variance of approximately $151K. Federal 22% YTD GSA Down -1% Federal revenues are down 1% from prior year receipts. This is a variance of approximately $5K. Down -9% Dashboard Local 3% YTD 0% YTD Categoricals Illinois General State Aid revenues are down 9% from prior year receipts. This is a variance of approximately $314K. Expenditures 71% YTD Down - 1% Local revenues (including property taxes) are down 1% from prior year receipts. This is a variance of approximately $166K. Up 71% Illinios Categorical Payments are up 71% from prior year receipts. This is a variance of approximately $215K. 5 Salaries Down 6% YTD -1% Salaries are down 1% from prior year expenditures. This is a variance of approximately $77K. 8% YTD Down -1% Total operating expenses are down 1% from prior year expenditures. This is a variance of approximately $151K. Insurance Down -7% 8% YTD Exployee insurance expenses (such as health insurance) are down 7% from prior year expenditures. This is a variance of approximately $134K.

7 Operating Food Service 0% YTD On Target Food Service is on target from prior year expenditures. Transportation 3% YTD Up 3% Transportation Services are up 3% from prior year expenditures. This is a variance of approximately $24K. Technology Dashboard Custodial Service 0% YTD On Target Night Custodial Service is on target from prior year expenditures. 2017/2018 Dashboard Out of D75 Tuition 28% YTD Up 25% Tuition paid for Special Educational needs that are provided outside of D75 facilities are up 25% from prior year expenditures. This is a variance of approximately $234K. 13% YTD Debt Up 1% Technology shared services are up 1% from prior year expenditures. This is a variance of approximately $1K. Other Services 13% YTD Up 6% Other Purchased Services are up 6% from prior year expenditures. This is a variance of approximately $105K. Utilities Down -8% Supplies 12% YTD On Target Utilities are on target from prior year expenditures. 1% YTD Principal and Interest payments are down 8% from prior year expenditures. This is a variance of approximately $279K. 15% YTD Up 6% Supplies and Materials are up 6% from prior year expenditures. This is a variance of approximately $36K. 6

8 2017/2018 Operating, Debt, and Capital Funds Comparison 7 Operating, Debt, and Capital Operating, Debt, and Capital Funds Comparison e Operating Debt Capital & Other YTD FY18 Budget As of Aug 17 As of Aug 17 As of Aug 17 As of Aug 17 Budget Balance Beginning Fund Balances 0 $ 13,205,207 $ 1,475,837 $ 25 $ 14,681,069 $ 14,681,069 Revenues by Source Tax Levy $ 405,468 $ 42,039 $ $ 447,507 $ 15,971,728 $ 15,524,221 Corporate Taxes (CPPRT) 19,125 19, ,645 83,520 Tuition, Registration, and Fees 23,546 23,546 72,720 49,174 Earnings on Investments 12,800 1, ,987 60,658 45,671 Food Service Revenue 21,323 21, , ,719 Other Local & Flow Through Funds 27,264 23,332 50, , ,613 General State Aid 3,781,694 3,781,694 State Categorical Payments 215, , ,389 86,006 State Grants 300, , ,316 74,316 Federal Title I Low Income 31,622 31, , ,262 Federal Special Education 31,670 31, , ,182 Other Federal Funds 79,580 79, , ,671 Total Revenues $ 1,167,781 $ 43,899 $ 23,659 $ 1,235,339 $ 22,386,388 $ 21,151,049 3 On Behalf Payments Flow Through 15,000,000 15,000,000 Total Revenues & Flow Through $ 1,167,781 $ 43,899 $ 23,659 $ 1,235,339 $ 37,386,388 $ 36,151,049 Expenditures by Object Administration Salaries $ 177,135 $ $ $ 177,135 $ 1,101,889 $ 924,754 Certified Staff Salaries 350, ,820 7,866,581 7,515,762 Aide Nurse & Psych Salaries 14,179 14, , ,883 Building Support Salaries 78,652 78, , ,686 Custodial & Maintenance Salaries 42,110 42, , ,436 Stipends Subs & Other Salaries 13,696 13, , ,979 Retirement and Social Security 76,796 76, , ,824 Employee Insurance 144, ,935 1,827,679 1,682,744 Other Employee Benefits 5,454 5, , ,472 Food Service 400, ,000 Custodial Service 410, ,000 Pupil Transportation Service 24,156 24, , ,944 Technology Service 18,158 18, , ,075 Other Purchased Services 215, ,699 1,688,879 1,473,180 Textbooks 21,281 21, , ,529 Utilities 41,404 41, , ,696 Supplies & Materials 97,895 97, , ,512 Capital Outlay ,255,857 2,254,975 Principal & Interest 34,098 34,098 3,299,720 3,265,622 Tuition 260, , , ,926 Other Objects 3,555 3,555 84,717 81,162 Non Capitalized Equipment 10,585 10,585 41,080 30,495 Termination Benefits 23,218 23, , ,782 Total Expenditures $ 1,619,802 $ 34,098 $ 881 $ 1,654,781 $ 25,403,218 $ 23,748,436 On Behalf Payments Flow Through 15,000,000 15,000,000 Total Expenditures & Flow Through $ 1,619,802 $ 1,654,781 $ 40,403,218 $ 38,748,436 Revenues Less Expenditures (452,021) 43,899 23,659 (419,442) (3,016,830) Adjustments to Fund Balance Other Financing Sources 5,200,000 Other Financing Uses Operating Results $ (452,021) $ 43,899 $ 23,659 $ (419,442) $ 2,183,170 Ending Fund Balances $ 12,753,186 $ 1,519,736 $ 23,684 $ 14,261,627 $ 16,864,239

9 erating, Debt, and Capi TOTAL REVENUES TOTAL EXPENDITURES $1.2M $1.6M PERCENT OF BUDGET BUDGET BALANCE PERCENT OF BUDGET BUDGET BALANCE THOUSANDS THOUSANDS PERCENT OF BUDGET BUDGET BALANCE PERCENT OF BUDGET BUDGET BALANCE TOTAL REVENUES Operating Operating, Debt, and Capital Funds Snapshot 6% $19.4M 8% $18.3M Debt TOTAL REVENUES TOTAL EXPENDITURES $44K $34K 3% $1.5M 1% $3.3M Capital TOTAL EXPENDITURES $24K $1K 2017/2018 Operating, Debt, and Capital Funds Snapshot THOUSANDS THOUSANDS PERCENT OF BUDGET BUDGET BALANCE PERCENT OF BUDGET BUDGET BALANCE 7% $328K 0% $2.2M THOUSANDS 17% of the fiscal year complete as of August,

10 2017/ , 20, 40, 50, 70 Operating Funds Year at a Glance (YAAG) 9 Operating 0, 20, 40, 50, 70 Operating Funds Year at a Glance (YAAG) p MTD YTD FY18 % of Budget YTD FY17 % of As of Aug 17 As of Aug 17 Budget Bdgt Balance As of Aug 16 Prelim YE YE Beginning Fund Balances 0 $ 13,205,207 $ 13,205,207 $ 13,421,195 $ 13,421,195 Revenues by Source Tax Levy $ 266,766 $ 405,468 $ 14,459,716 3% $ 14,054,248 $ 459,570 $ 14,359,958 3% Corporate Taxes (CPPRT) , ,645 19% 83,520 21, ,279 18% Tuition, Registration, and Fees 18,692 23,546 72,720 32% 49, , ,056 15% Earnings on Investments 6,267 12,800 55,374 23% 42,574 4,627 54,987 8% Food Service Revenue 21,260 21, ,042 4% 558,719 47, ,297 8% Other Local & Flow Through Funds 5,381 27, ,209 6% 436, , ,414 26% General State Aid 3,456,694 0% 3,456, ,784 3,187,625 9% State Categorical Payments 215, , ,389 71% 86, ,362 0% State Grants 30, , ,316 80% 74, , ,986 40% Federal Title I Low Income 31,622 31, ,884 16% 169, , ,126 35% Federal Special Education 31,670 31, ,852 16% 164, ,600 0% Other Federal Funds 58,941 79, ,251 31% 174,671 80, ,268 31% Total Revenues $ 686,826 $ 1,167,781 $ 20,518,092 6% $ 19,350,310 $ 1,161,560 $ 20,316,957 6% 3 On Behalf Payments Flow Through 15,000,000 0% 15,000, ,000,000 0% 0 Total Revenues & Flow Through $ 686,826 $ 1,167,781 $ 35,518,092 3% $ 34,350,310 $ 1,161,560 $ 31,316,957 4% 0% Expenditures by Object Administration Salaries $ 88,930 $ 177,135 $ 1,101,889 16% $ 924,754 8 $ 206,180 $ 1,243,526 17% Certified Staff Salaries 350, ,820 7,866,581 4% 7,515, ,836 7,807,302 4% Aide Nurse & Psych Salaries 14,179 14, ,062 3% 552, , ,112 2% Building Support Salaries 56,098 78, ,338 11% 646, , ,399 11% Custodial & Maintenance Salaries 23,208 42, ,136 12% 313, , ,496 16% Stipends Subs & Other Salaries 13,173 13, ,675 2% 555, , ,662 7% Retirement and Social Security 44,015 76, ,619 9% 735, , ,091 9% Employee Insurance 140, ,935 1,827,679 8% 1,682, ,061 2,045,945 15% Other Employee Benefits 5,092 5, ,926 2% 239, , ,996 38% Food Service 400,000 0% 400, ,294 0% Custodial Service 410,000 0% 410,000 31,379 0% Pupil Transportation Service 4,602 24, ,100 3% 690, ,052 0% Technology Service 10,842 18, ,233 13% 120,075 14, ,248 12% Other Purchased Services 143, ,699 1,671,789 13% 1,456, ,764 1,555,541 7% Textbooks 21,281 21, ,810 17% 102,529 11, ,658 7% Utilities 23,294 41, ,100 12% 299,696 39, ,877 12% Supplies & Materials 27,319 97, ,407 15% 545,512 50, ,793 10% Capital Outlay 80,367 0% 80, ,281 96, % Principal & Interest 0% 0% Tuition 248, , ,000 28% 674, , ,870 3% Other Objects 1,288 3,555 80,942 4% 77,387 1,659 67,327 2% Non Capitalized Equipment 10,585 41,080 26% 30, ,462 2% Termination Benefits 19,849 23, ,000 9% 231,782 31, ,714 13% Total Expenditures $ 1,236,174 $ 1,619,802 $ 19,906,733 8% $ 18,286,931 $ 1,767,768 $ 19,875,831 9% On Behalf Payments Flow Through 15,000,000 0% 15,000, ,000,000 0% Total Expenditures & Flow Through $ 1,236,174 $ 1,619,802 $ 34,906,733 5% $ 33,286,931 $ 1,767,768 $ 30,875,831 6% Revenues Less Expenditures (549,349) (452,021) 611,359 (606,208) 441,127 Adjustments to Fund Balance Other Financing Sources Other Financing Uses (657,115) Operating Results $ (549,349) $ (452,021) $ 611,359 $ (606,208) $ (215,988) Ending Fund Balances $ 12,753,186 $ 13,816,566 $ 12,814,987 $ 13,205,207

11 perat 10, 2 Revenue and Expenditure Narrative Operating Funds Narrative 1 Tuition, Registration, and Fees revenues (0.4% of the total revenue budget) were budgeted at $73K. As of the end of the period, YTD actuals total $24K or 32% of the Tuition, Registration, and Fees budget. As of this time last year, Tuition, Registration, and Fees revenues received to date totalled $20K, or 15% of the total FY16 Tuition, Registration, and Fees revenue received. That said, we are trending 17% (or $13K) above prior year revenues. This variance is due to procedural changes in the SY registration process whereby parents were encouraged to "register now" and "pay later". 2 Other Local & Flow Through Funds revenues (2.3% of the total revenue budget) were budgeted at $464K. As of the end of the period, YTD actuals total $27K or 5.9% of the Other Local & Flow Through Funds budget. As of this time last year, Other Local & Flow Through Funds revenues received to date totalled $123K, or 26% of the total FY16 Other Local & Flow Through Funds revenue received. That said, we are trending 19.9% (or $92K) below prior year revenues. This revenue variance is due to the collection of impact fees from developers. Impact fees are payments required by local governments (such as school districts) of new developments within their boundaries. Due to regulations regarding its use, impact fees may only be used for the purpose of providing new or expanded capital facilities required to serve that development. These funds were incorrectly allocated to operating funds at the beginning of FY17 and this error was later remediedduring the samefiscal year SeeDebt & Capital footnote 2 3 State Categorical Payments revenues (1.5% of the total revenue budget) were budgeted at $301K. As of the end of the period, YTD actuals total $215K or 71% of the State Categorical Payments budget. As of this time last year, State Categorical Payments revenues received to date totalled $0K, or 0.0% of the total FY16 State Categorical Payments revenue received. That said, we are trending 71% (or $215K) above prior year revenues. This is due to prior year categorical payments being paid at the beginning of FY18. With the new Evidence Based Funding act, most categorical payments are included in the General State Aid calculation. That said, this revenue stream is anticipated to end the year on target. 4 State Grants revenues (1.8% of the total revenue budget) were budgeted at $374K. As of the end of the period, YTD actuals total $300K or 80% of the State Grants budget. As of this time last year, State Grants revenues received to date totalled $42K, or 40% of the total FY16 State Grants revenue received. That said, we are trending 40% (or $151K) above prior year revenues. In FY17, the District spent more than $340K on the Preschool For All grant expenditures. This variance is due to the State reimbursing the District for those expenses in FY18, rather than FY17. 5 Federal Title I Low Income revenues (1.0% of the total revenue budget) were budgeted at $201K. As of the end of the period, YTD actuals total $32K or 16% of the Federal Title I Low Income budget. As of this time last year, Federal Title I Low Income revenues received to date totalled $73K, or 35% of the total FY16 Federal Title I Low Income revenue received. That said, we are trending 19.7% (or $40K) below prior year revenues. The majority of this revenue stream is for grants which are reimbursed after expending the funds. As such, any budget variance anticipated related to revenue would include subsequent/offsetting expenditure variances also. Therefore, the net result of budget variances related to grant activity is a change to the fund balance of zero. Although this grant may not have an affect on the District's fund balances, it does provide the District with funding to offer programs that it otherwise could not afford. Due to regulations regarding its use, most of the grant is to be spent addressing the needs of economically disadvantaged students of the District's student population. At this point this revenue stream is not expected to end the year with a material difference. 6 Federal Special Education revenues (1.0% of the total revenue budget) were budgeted at $196K. As of the end of the period, YTD actuals total $32K or 16% of the Federal Special Education budget. As of this time last year, Federal Special Education revenues received to date totalled $0K, or 0.0% of the total FY16 Federal Special Education revenue received. That said, we are trending 16% (or $32K) above prior year revenues. The majority of this revenue stream is a Federal Grant which is reimbursed after expending the funds. As such, any budget variance anticipated related to revenue would include subsequent/offsetting expenditure variances also. Therefore, the net result of budget variances related to grant activity is a change to the fund balance of zero. Although this grant may not have an affect on the District's fund balances, it does provide the District with funding to offer programs that it otherwise could not afford. Due to regulations regarding its use, most of the grant is to be spent addressing the needs of the District's Special Education student population. At this point this revenue stream is not expected to end the year with a material difference. 7 On Behalf Payments Flow Through revenues (73% of the total revenue budget) were budgeted at $15.0M. As of the end of the period, YTD actuals total $0K or 0.0% of the On Behalf Payments Flow Through budget. As of this time last year, On Behalf Payments Flow Through revenues received to date totalled $0K, or 0.0% of the total FY16 On Behalf Payments Flow Through revenue received. This revenue stream has a corresponding expenditure item. It is a flow through that has no affect on fund balance. See the AFR for more information. 8 Salaries and Benefits expenditures (71% of the total expenditure budget) were budgeted at $14.1M. As of the end of the period, YTD actuals total $904K or 6.4% of the Salaries and Benefits budget. That said, we are trending 2.2% (or $309K) below budgeted expenditures. This variance is mainly due to the timing of NIHIP payments. As such, these expenditures are anticipated to end the year on target. 9 Capital Outlay expenditures (0.4% of the total expenditure budget) were budgeted at $80K. As of the end of the period, YTD actuals total $0K or 0.0% of the Capital Outlay budget. As of this time last year, Capital Outlay expenditures utilized to date totalled $221K, or 230% of the total FY16 Capital Outlay expenditures utilized. That said, we are trending 230.3% (or $185K) below prior year expenditures. This variance is primarily due to timing differences of scheduled projects throughout the District. At this point this expenditure item is not expected to end the year with a material difference. 2017/ , 20, 40, 50, 70 Operating Funds Narrative 10 Tuition expenditures (4.7% of the total expenditure budget) were budgeted at $935K. As of the end of the period, YTD actuals total $260K or 28% of the Tuition budget. As of this time last year, Tuition expenditures utilized to date totalled $24K, or 2.8% of the total FY16 Tuition expenditures utilized. That said, we are trending 25% (or $234K) above prior year expenditures. This variance is primarily due to the timing of quarterly payments to SEDOL. At this point this expenditure item is not expected to end the year with a material difference. 10

12 2017/ , 60, 80 & 90 Debt, Capital & Fire Prev Funds Year at a Glance (YAAG) Debt, Capital & Fire Pre30, 60, 80 & 90 Debt, Capital & Fire Prev Funds Year at a Glance (YAAG) pi MTD YTD FY18 % of Budget YTD FY17 % of As of Aug 17 As of Aug 17 Budget Bdgt Balance As of Aug 16 Prelim YE YE Beginning Fund Balances 0 $ 1,475,862 $ 1,475,862 $ 1,017,242 $ 1,017,242 Revenues by Source Tax Levy $ 27,659 $ 42,039 $ 1,512,012 3% $ 1,469,973 $ 45,811 $ 1,460,645 3% Corporate Taxes (CPPRT) 0% 0% Tuition, Registration, and Fees 0% 0% Earnings on Investments 1,078 2,186 5,284 41% 3, ,246 9% Food Service Revenue 0% 0% Other Local & Flow Through Funds 11,666 23,332 26,000 90% 2, ,368 0% General State Aid 325,000 0% 325, % State Categorical Payments 0% 0% State Grants 0% 0% Federal Title I Low Income 0% 0% Federal Special Education 0% 0% Other Federal Funds 0% 0% Total Revenues $ 40,403 $ 67,558 $ 1,868,296 4% $ 1,800,738 $ 46,301 $ 1,689,259 3% 3 On Behalf Payments Flow Through 0% 0% 0 Total Revenues & Flow Through $ 40,403 $ 67,558 $ 1,868,296 4% $ 1,800,738 $ 46,301 $ 1,689,259 3% 0% Expenditures by Object Administration Salaries $ $ $ 0% $ $ $ 0% Certified Staff Salaries 0% 0% Aide Nurse & Psych Salaries 0% 0% Building Support Salaries 0% 0% Custodial & Maintenance Salaries 410 0% % Stipends Subs & Other Salaries 0% 0% Retirement and Social Security 0% 0% Employee Insurance 0% 0% Other Employee Benefits 0% 0% Food Service 0% 0% Custodial Service 0% 0% Pupil Transportation Service 0% 0% Technology Service 0% 0% Other Purchased Services 17,090 0% 17,090 16,682 0% Textbooks 0% 0% Utilities 0% 0% Supplies & Materials 0% 0% Capital Outlay 881 2,175,490 0% 2,174, ,950 0% Principal & Interest 33,898 34,098 3,299,720 1% 3,265, ,018 1,694,891 10% Tuition 0% 0% Other Objects 3,775 0% 3, ,825 7% Non Capitalized Equipment 0% 0% Termination Benefits 0% 0% Total Expenditures $ 33,898 $ 34,979 $ 5,496,485 1% $ 5,461,506 $ 161,218 $ 1,887,754 9% On Behalf Payments Flow Through 0% 0% Total Expenditures & Flow Through $ 33,898 $ 34,979 $ 5,496,485 1% $ 5,461,506 $ 161,218 $ 1,887,754 9% 11 Revenues Less Expenditures 6,505 32,579 (3,628,189) (114,917) (198,495) Adjustments to Fund Balance Other Financing Sources 5,200, ,115 Other Financing Uses Operating Results $ 6,505 $ 32,579 $ 1,571,811 $ (114,917) $ 458,620 Ending Fund Balances $ 1,508,441 $ 3,047,673 $ 902,325 $ 1,475,862

13 ital &30, 6 Revenue and Expenditure Narrative Debt, Capital & Fire Prev Funds Narrative 1 Earnings on Investments revenues (0.3% of the total revenue budget) were budgeted at $5K. As of the end of the period, YTD actuals total $2K or 41% of the Earnings on Investments budget. As of this time last year, Earnings on Investments revenues received to date totalled $0K, or 9.3% of the total FY16 Earnings on Investments revenue received. That said, we are trending 32% (or $2K) above prior year revenues. This variance is due to better than anticipated interest rates. 2 Other Local & Flow Through Funds revenues (1.4% of the total revenue budget) were budgeted at $26K. As of the end of the period, YTD actuals total $23K or 90% of the Other Local & Flow Through Funds budget. As of this time last year, Other Local & Flow Through Funds revenues received to date totalled $0K, or 0.0% of the total FY16 Other Local & Flow Through Funds revenue received. That said, we are trending 90% (or $23K) above prior year revenues. This greater than anticipated revenue is due to the collection of impact fees from developers. Impact fees are payments required by local governments (such as school districts) of new developments within their boundaries. Due to regulations regarding its use, impact fees may only be used for the purpose of providing new or expanded capital facilities required to serve that development. For FY18, these fees are being correctly allocated at the start of the fiscal year. During the early part of FY17, these impact fees were being incorrectly allocated to operating funds and the error was later remedied. 3 General State Aid revenues (17% of the total revenue budget) were budgeted at $325K. As of the end of the period, YTD actuals total $0K or 0.0% of the General State Aid budget. As of this time last year, General State Aid revenues received to date totalled $0K, or 0.0% of the total FY16 General State Aid revenue received. That said, we are trending 0.0% (or $0K) below prior year revenues. With the un surety of the State of Illinois, the evidence based funding act, and the impact on categorical and other state revenue, a portion has been budgeted in the Capital Projects Fund with an offsetting expenditure of an equal amount budgeted. Should the State pay 100% of its obligation, as promised, the District will have an opportunity to decide its use at a later date. See Operating Funds footnote 2. 4 Principal & Interest expenditures (60% of the total expenditure budget) were budgeted at $3.3M. As of the end of the period, YTD actuals total $34K or 1.0% of the Principal & Interest budget. As of this time last year, Principal & Interest expenditures utilized to date totalled $161K, or 9.5% of the total FY16 Principal & Interest expenditures utilized. That said, we are trending 8.5% (or $279K) below prior year expenditures. Although this expenditure item appears to be trending low, Principal & Interest will end the year on target. 2017/ , 60, 80 & 90 Debt, Capital & Fire Prev Funds Narrative 12

14 2017/2018 State Payments and Outstanding Balances Summary State Payments and Outstanding Balances Summary Information As Of: September 22, 2017 # Pmts Amt Amt Remaining Total Behind Behind Paid Due Funding Program Description General State Aid Sec $ 171,895 $ 515,686 $ 3,094,113 $ 3,781,694 Special Ed. Private Facility Tuition 1 17,161 17,161 34,322 Funding for Children Requiring Sp Ed 1 53,797 53, , ,187 Special Ed. Personnel 1 61,124 61, ,247 Special Ed. Summer School 1 9,676 9,676 Bilingual Ed. T.P.I. & T.B.E , ,107 State Free Lunch & Breakfast ,486 2,174 Transportation Regular and Vocational 1 17,870 17,870 35,739 Transportation Special Education 1 65,432 65, ,864 Early Childhood Block Grant 5 149, , , ,922 National School Lunch Program 1 18,755 18,755 School Breakfast Program 1 1,044 1,044 Title I Low Income 0 31, , ,285 Title III Lang Inst Prog Limited Eng LIPLEP 0 24,788 27,847 52,635 Title II Teacher Quality 0 15,099 28,353 43,452 Other Federal Programs 0 Totals 20 $ 704,864 $ 1,104,063 $ 3,643,175 $ 5,452,103 # Pmts Amt Amt Remaining Total Behind Behind Paid Due Funding Funding Type GSA 1 $ 171,895 $ 515,686 $ 3,094,113 $ 3,781,694 Categorticals 5 215, , , ,359 Grants , , , ,879 Federal Funding 4 19,799 71, , ,171 Totals 20 $ 704,864 $ 1,104,063 $ 3,643,175 $ 5,452, # Pmts Amt Amt Remaining Total Behind Behind Paid Due Funding By Program GSA 1 $ 171,895 $ 515,686 $ 3,094,113 $ 3,781,694 Special Education 4 141, , , ,432 Transportation 2 83,302 83, ,603 Early Childhood 5 149, , , ,922 Bilingual 4 138,107 24,788 27, ,742 Low Income 0 31, , ,285 Other 4 20,487 16,585 28,353 65,425 Totals 20 $ 704,864 $ 1,104,063 $ 3,643,175 $ 5,452,103