Weld County School District 6 Quarterly Financial Report March 31, 2017

Transcription

1 Weld County School District 6 Quarterly Financial Report March 31, 2017 Submitted by Weld County School District 6 Finance Department Meggan Sponsler, CPA Chief Financial Officer and Mandy Hydock Finance Director

2 FINANCE DEPARTMENT 3 rd Quarter Fund Financial Narrative March 31, 2017 Provided by Finance Administrative Staff Activities for the 3 rd quarter of the fiscal year are presented in the attached March 31, rd Quarter Financial Statements. The format of these financial statements presents the audited financial statements for the fiscal year, audited for the fiscal year as well as the Board of Education Revised Budget. The year-to-date actual balances, variance compared to budget and detailed percentages of the actual to budget are also presented in the financials. General Fund (10) The General Fund is the District s primary operating fund. It accounts for all financial resources of the District, except those required to be accounted for in another fund. Summary The 3 rd quarter total year-to-date (YTD) revenues for the General Fund were $121.9 million and expenditures and transfers were $117.1 million. Of the YTD total budget, 69% of all revenues have been received and 66% and 73% of expenditures and transfers, respectively have been disbursed. Explanation of Significant Variance Items - Revenues Property Tax Revenue The majority of the property tax revenues are collected from March through the end of the fiscal year. Although collections of these revenues are minimal to date, cash flows are managed through funds held at Wells Fargo and invested in governmental bonds. Abatements Variances associated with these revenues are controlled by the Weld County Assessor s Office. The abatement process is used to correct taxes that have been levied erroneously or illegally due to erroneous valuation for assessment, irregularity in levying, clerical error, or over evaluation. Close monitoring of these revenues will occur the remainder of the fiscal year. Earnings on Investments In order to address the limited amount of revenue the District has received for earnings on investments, a portion of the district s funds have been invested in bonds through Wells Fargo. State Reimbursements The receipt of revenue is dependent upon CDE disbursing the funds, typically twice a year. The District is on track to receive the budgeted funds. Explanation of Significant Variance Items Expenditures As of March 31, 2017, total General Fund expenditures were 66% of the budget. Salaries and benefits together represent over 80% of the total budget. The expenditures of the general fund are below the percent of the budget to date due to timing of the recording of the certified salaries and benefits.

3 Dental Fund (14) The Dental Fund accounts for claims and administrative fees of the District s selffunded dental insurance employee benefit program. Summary The 3 rd quarter total year-to-date (YTD) revenues for the Dental Fund were $706.9k and expenditures were $734.8k. Of the YTD total budget, 74% of all revenues have been received and 70% of expenditures have been disbursed. Funds expended are contingent upon the number of claims submitted from employees. Poudre Learning Center Fund (16) The Poudre Learning Center Fund accounts for the resources and expenditures to operate the Poudre Learning Center, which serves as a facility for interdisciplinary learning for a number of school Districts (Greeley-Evans, Johnstown-Milliken, Windsor, and Eaton). Summary As of the close of the 3 rd quarter total year-to-date (YTD) there were $171.8k in revenues for the Poudre Learning Center Fund and YTD expenditures were $164.7k. Of the YTD total budget, 79% of revenues have been received and 63% of expenditures have been disbursed. Explanation of Significant Variance Items - Revenues Local Sources Revenues received for the Poudre Learning Center (PLC) are dependent upon Weld County School District 6 billing the school Districts involved with the PLC. The Districts are billed on a quarterly basis. Explanation of Significant Variance Items Expenditures All expenditures and transfers YTD are proportionately spent in accordance with the Adopted Budget. Risk Management Fund (18) This Risk Management Fund accounts for the resources used for the District s liability, property, and workers compensation insurance needs. It also provides overall risk management activities for the District. Summary The 3 rd quarter total year-to-date (YTD) revenues and transfers for the Risk Management Fund were $55k and $1.3 million, respectively, and expenditures were $1.6 million. Of the YTD total budget, 138% of all revenues and 75% of all transfers have been received and 95% of expenditures have been expended. Explanation of Significant Variance Items Revenues and Transfers Local Sources Revenues received in the Risk Management fund are primary dependent upon the receipt of dividends from our insurance provider. The transfer from the General Fund is allocated on a monthly basis. Explanation of Significant Variance Items Expenditures Expenses for insurance premiums are paid over 9 or 10 installments, causing expenses to be higher at the beginning of the year.

4 Preschool Program Fund (19) This fund was established by Senate Bill , concerning the required expenditure of a portion of a school District s per pupil operating revenue for the school District s Colorado Preschool Program. Summary As of the close of the 3 rd quarter total year-to-date (YTD) there were transfers of $1.7 million for the Preschool Program Fund and expenditures were $1.7 million. Of the YTD total budget, 75% of transfers have been received and 73% of expenditures have been expended. Activity in the fund is consistent with prior years and is on track to end the year with a positive fund balance. Food Service Fund (21) This fund accounts for all financial activities associated with the District s nutrition program. Summary The 3 rd quarter total year-to-date (YTD) revenues for the Food Service Fund were $6.8 million and expenditures were $7.7 million. Of the YTD total budget, 68% of all revenues and 76% of expenditures have been expended. Based on prior year activity, the Food Service Fund is on track to meet budget projections. Grants Fund (22) This fund is provided to account for monies received from various federal, state and local grant programs. Summary The 3 rd quarter total year-to-date (YTD) revenues for the Grants Fund were $11.2 million and expenditures were $9.2 million. Of the YTD total budget, 66% of all revenues have been received and 54% of expenditures have been expended. Explanation of Significant Variance Items Expenditures The expenditures of the Grant Fund are below the percent of the budget to date due to timing of the recording of the certified salaries. Platte Valley Youth Services Fund (26) This fund accounts for the activities of the Platte Valley Youth Services Center, which the District operates on behalf of other districts within the state and District 6. Summary The 3 rd quarter total year-to-date (YTD) revenues and transfers for the Platte Valley Youth Services Fund were $771.3k and $178.7k, respectively, and expenditures were $934k. Of the YTD total budget, 59% of all revenues and 76% of transfers have been received and 60% of expenditures have been expended. Explanation of Significant Variance Items Expenditures The expenditures of the Platte Valley Youth Services Fund are below the percent of the budget to date due to timing of the recording of the certified salaries. Bond Redemption Fund (31) This fund is authorized by Colorado law. It provides revenues based upon a property tax mill levy set by the Board of Education to satisfy the District s bonded indebtedness on an annualized basis. Summary The 3 rd quarter total year-to-date (YTD) revenues for the Bond Redemption Fund were $3.6 million and expenditures were $8.8 million. Of the YTD total budget, 35% of all revenues have been received and less than 93% of expenditures have been disbursed.

5 Explanation of Significant Variance Items Revenues and Transfers Property Tax Revenues The majority of the property tax revenues are generally collected from March through the end of the fiscal year. Explanation of Significant Variance Items Expenditures Principal / Interest Principal and interest payments are due in December of each year and recorded in the general ledger in January. There are additional interest payments due in June of each year. These payments are processed with the funds held by our trustees, US Bank. Capital Projects Fund (43) This fund is used to account for revenues restricted for ongoing capital needs such as site acquisition, building additions, repair and maintenance, and equipment purchases. Summary The 3 rd quarter total year-to-date (YTD) revenues and transfers for the Capital Reserve Fund were $29k and $1.3 million, respectively, and expenditures were $1.1 million. Of the YTD total budget, 1% of all revenues and 69% of transfers have been received and 18% of expenditures have been expended. Explanation of Significant Variance Items Revenues and Transfers Local Sources The revised budget for revenue was increased due to the City of Greeley s contribution for athletic field improvements and funds received from the City of Greeley Quality of Life tax funds. Explanation of Significant Variance Items Expenditures The majority of the expenditures are not expended until the summer months as site improvement projects are initiated and completed in this timeframe so as not to disrupt school activities. The budget shows a significant variance due to various large projects occurring in the summer months. The budget will be adjusted through the revision process to accommodate the variance.

6 Weld County School District 6 FUND BALANCE WORKSHEET Fund Audited Audited Fund Balance Fund Balance YTD YTD Expenditures Fund Balance 6/30/2015 6/30/2016 Revenues & Transfers 3/31/2017 General Funds 10 General 20,135,618 21,910, ,879, ,122,149 26,667, Dental 514, , , , , Poudre Learning Center 73,099 92, , ,722 99, Risk Management 211, ,430 55, ,856 (15,372) 19 Preschool Program 142, ,076-8, ,069 Total General Funds 21,076,164 22,942, ,813, ,401,490 27,372,170 Special Revenue Funds 21 Food Service 2,465,726 2,155,234 6,820,602 7,748,804 1,227, Grant ,165,493 9,248,655 1,916, Platte Valley Youth Services , ,214 16,121 Total Special Revenue Funds 2,465,726 2,155,234 18,757,430 17,752,672 3,159,992 Debt Service Funds 31 Bond Redemption 12,093,175 12,572,192 3,552,956 8,848,441 7,276,707 Total Debt Service Funds 12,093,175 12,572,192 3,552,956 8,848,441 7,276,707 Capital Projects Funds 43 Capital Projects 3,273,758 1,706,167 29,169 (311,153) 2,046,489 Total Capital Projects Funds 3,273,758 1,706,167 29,169 (311,153) 2,046,489 Agency Funds 73 Scholarships 114, , ,028 3, , Student Activities 973, ,464 1,190, ,844 1,244, Athletic Activities 180, , , , ,505 Total Agency Funds 1,268,528 1,272,161 1,681,016 1,066,307 1,886,870 TOTALS 40,177,351 40,648, ,833, ,757,757 41,742,228 Fund Balance Worksheet Page 1

7 SUMMARY OF RESOURCES, EXPENDITURES, RESERVES AND TRANSFERS GENERAL OPERATING FUND Audited Audited Revised YTD Actual Actual Budget Actual Variance REVENUES Local Sources $ 35,821,762 $ 40,863,704 $ 41,687,399 $ 18,924,262 $ (22,763,137) State Sources 123,514, ,516, ,839, ,955,068 (31,884,662) TOTAL REVENUES 159,335, ,379, ,527, ,879,330 (54,647,799) EXPENDITURES Instructional 73,806,190 78,237,187 80,830,699 47,880,349 32,950,350 Support Services Student Support 6,629,143 6,800,602 7,111,998 4,864,985 2,247,013 Instructional Staff Support 6,423,468 7,195,394 6,267,529 4,628,339 1,639,190 General Administration 1,246,199 1,231,221 1,554,659 1,122, ,647 School Administration 8,977,773 9,533,254 10,098,850 6,811,997 3,286,853 Business Services 2,304,507 2,319,452 2,400,530 1,648, ,044 Operations & Maintenance 11,391,993 11,873,098 12,405,897 8,499,210 3,906,687 Student Transportation 4,475,591 4,393,244 5,126,825 3,364,463 1,762,362 Other Support Services 5,822,291 6,460,355 5,822,603 4,030,880 1,791,723 Capital Outlay Payments Made to Charter Schools: Union Colony Secondary 3,335,913 3,477,013 3,459,960 2,567, ,256 Union Colony Elementary 2,781,233 2,938,808 3,283,271 2,462, ,367 University 11,821,606 12,424,608 13,305,183 9,865,103 3,440,080 Frontier 9,739,522 10,447,459 11,151,524 9,073,156 2,078,368 Salida del Sol 4,203,926 4,974,254 5,742,571 4,317,989 1,424,582 Westridge 1,441,707 1,534,996 1,783,958 1,472, ,547 TOTAL EXPENDITURES 154,401, ,840, ,346, ,609,988 57,736,069 TOTAL TRANSFERS (4,778,019) (4,878,022) (6,181,072) (4,512,161) (1,668,911) TOTAL EXPENDITURES/RESERVES/TRANSFERS 15,919, ,718, ,527, ,122,149 59,404,980 TOTAL BEGINNING BALANCES & RESERVES 19,978,824 20,249,270 20,249,270 21,910,064 (1,660,794) ENDING FUND BALANCE $ 20,135,618 $ 21,910,064 $ 20,249,270 $ 26,667,246 $ 6,417,976 Summary of Resources, Expendtirue, Reserves and Transfers Page 2

8 GENERAL OPERATING FUND REVENUE DETAIL Audited Audited Revised YTD % Actual / Actual Actual Budget Actual Variance Budget REVENUES Local Sources Property Taxes $ 26,092,491 $ 31,048,891 $ 31,518,029 $ 11,046,397 $ (20,471,632) 35% Specific Ownership Tax 3,019,784 2,551,459 2,780,801 2,243,801 (537,000) 81% Delinquent Taxes, Penalties & Interest 48,091 (100,216) 50,000 (39,876) (89,876) -80% Abatements 134, , , , , % Summer School Fees, Intercession 9,383 1,000 5, (4,875) 3% Other Tuition ,000 - (10,000) 0% Earnings on Investments 138, , , (179,253) 0% Pupil Activities % District Services Provided to Charter Schools 4,433,945 4,372,217 4,714,569 3,673,830 (1,040,739) 78% District Services Provided to Food Service 115,289 3,344-11,119 11,119 0% Indirect Cost Revenue 447, , ,000 97,384 (352,616) 22% All Other Local Revenue 1,382,853 2,267,336 1,879,000 1,689,002 (189,998) 90% Total Local Revenue 35,821,762 40,863,704 41,687,399 18,924,262 (22,763,137) 45% State Sources State Equalization 112,734, ,590, ,596,832 92,641,075 (30,955,757) 75% Charter School Capital Construction 828,129 1,286,434 1,379, ,464 (457,365) 67% Full Day Kindergarten Hold Harmless 259, , ,000 - (250,000) 0% READ Act Funding 1,101,006 1,252,826 1,135,069 1,135, % At-Risk Funding 1,407,736 1,749,542 1,700,000 1,742,888 42, % Vocational Education 288, , ,000 89,679 (90,321) 50% Special Ed Reimbursement 3,819,827 4,003,093 3,744,859 3,370,753 (374,106) 90% English Language Proficiency Act 1,799,233 1,678,075 1,853,071 1,853, % Gifted and Talented Reimbursement 188, , , , % Transportation 1,251,369 1,251,409 1,001,917 1,001, % Audit Adjustments (164,167) - (200,000) - 200,000 0% Total State Revenue 123,514, ,516, ,839, ,955,068 (31,884,661) 76% TOTAL REVENUES $ 159,335,875 $ 170,379,762 $ 176,527,129 $ 121,879,330 $ (54,647,798) 69% General Operating Fund Revenue Detail Page 3

9 GENERAL OPERATING FUND EXPENDITURE AND TRANSFER DETAIL Audited Audited Revised YTD % Actual / Actual Actual Budget Actual Variance Budget EXPENDITURES Current Instruction $ 73,806,190 $ 78,137,363 $ 80,830,699 $ 47,880,349 $ 32,950,350 59% Support Services: Student Support Services 6,629,143 6,800,602 7,111,998 4,864,985 2,247,013 68% Instructional Staff Support Services 6,423,468 7,175,350 6,267,529 4,628,339 1,639,190 74% General Administration Services 1,246,199 1,231,221 1,554,659 1,122, ,647 72% School Administration Services 8,977,773 9,533,254 10,098,850 6,811,997 3,286,853 67% Business Services 2,304,507 2,319,452 2,400,530 1,648, ,044 69% Operations & Maintenance 11,391,993 11,836,438 12,405,897 8,499,210 3,906,687 69% Student Transportation 4,475,591 4,387,684 5,126,825 3,364,463 1,762,362 66% Other Support Services 5,822,291 6,622,443 5,822,603 4,030,880 1,791,723 69% Total Instruction and Support Services 121,077, ,043, ,619,590 82,850,721 48,768,869 63% Payments Made to Charter Schools: Union Colony Secondary Per Pupil Revenue - - 3,290,761 2,464, ,545 75% Capital Construction ,843 87,451 46,392 65% Other State and Local Funding ,356 16,037 19,319 45% Total Union Colony Secondary 3,335,913 3,477,013 3,459,960 2,567, ,256 74% Union Colony Elementary Per Pupil Revenue - - 3,056,724 2,291, ,939 75% Capital Construction ,318 75,682 36,636 67% Other State and Local Funding ,229 95,437 18,792 84% Total Union Colony Elementary 2,781,233 2,938,808 3,283,271 2,462, ,367 75% University Per Pupil Revenue ,684,993 9,510,529 3,174,464 75% Capital Construction , , ,320 67% Other State and Local Funding ,873 35, ,296 25% Total University 11,821,606 12,424,608 13,305,183 9,865,103 3,440,080 74% Frontier Per Pupil Revenue ,654,954 8,765,108 1,889,846 82% Capital Construction , , ,577 67% Other State and Local Funding ,419 40,474 55,945 42% Total Frontier 9,739,522 10,447,459 11,151,524 9,073,156 2,078,368 81% Salida del Sol Per Pupil Revenue - - 5,300,688 3,974,079 1,326,609 75% General Operating Fund Expenditure and Transfer Detail Page 4

10 Capital Construction , ,817 65,395 67% Other State and Local Funding , ,093 32,578 87% Total Salida del Sol 4,203,926 4,974,254 5,742,571 4,317,989 1,424,582 75% West Ridge Per Pupil Revenue - - 1,707,355 1,423, ,543 83% Capital Construction ,988 41,943 19,045 69% Other State and Local Funding ,615 6,656 8,959 43% Total West Ridge 1,441,707 1,534,996 1,783,958 1,472, ,547 83% Total Payments Made to Charter Schools 33,323,907 35,797,138 38,726,467 29,759,267 8,967,200 77% TOTAL EXPENDITURES 275,478, ,840, ,346, ,609, ,472,138 66% Excess of Revenues Over (Under) Expenditures 4,934,814 6,538,816 6,181,072 9,269,342 (3,088,270) 150% OTHER FINANCING SOURCES (USES) Transfers Out Capital Projects (750,000) (750,000) (2,000,000) (1,375,000) (625,000) 69% Platte Valley Youth Services (226,385) (223,018) (235,000) (178,750) (56,250) 76% Preschool (2,101,634) (2,205,004) (2,246,072) (1,683,411) (562,661) 75% Insurance Reserve (1,700,000) (1,700,000) (1,700,000) (1,275,000) (425,000) 75% TOTAL OTHER FINANCING SOURCES (USES) (4,778,019) (4,878,022) (6,181,072) (4,512,161) (1,668,911) 73% NET CHANGE IN FUND BALANCE 156,795 1,660,794-4,757,181 (4,757,181) Fund Balance, Beginning, as Restated 19,978,824 20,249,270 21,910,064 21,910,064 - Fund Balance, Ending $ 20,135,618 $ 21,910,064 $ 21,910,064 $ 26,667,246 $ (4,757,182) General Operating Fund Expenditure and Transfer Detail Page 5

11 $180,000,000 $160,000,000 $140,000,000 $120,000,000 $100,000,000 $80,000,000 $60,000,000 $40,000,000 $20,000,000 $0 General Operating Fund Revenues July August September October November December January February March April May June Audited Audited YTD $180,000,000 $160,000,000 $140,000,000 $120,000,000 $100,000,000 $80,000,000 $60,000,000 $40,000,000 $20,000,000 $0 General Operating Fund Expenditures July August September October November December January February March April May June Audited Audited YTD General Operating Fund Revenues and Expenditures Graphs Page 6

12 DENTAL FUND EXPENDITURE AND TRANSFER DETAIL Audited Audited Revised YTD % Actual / Actual Actual Budget Actual Variance Budget REVENUES Dental Premiums $ 850,648 $ 904,534 $ 950, , ,104 74% TOTAL REVENUES 850, , , , ,104 74% EXPENDITURES Instructional % Support Services Student Support % Instructional Staff Support % General Administration % School Administration % Business Services % Operations & Maintenance % Student Transportation % Other Support Services 684, ,134 1,050, , ,230 70% TOTAL EXPENDITURES 684, ,134 1,050, , ,230 70% Net Change in Fund Balance 166,023 (86,600) (100,000) (27,875) 72,125 Fund Balance - Beginning 348, , , ,693 (2) Fund Balance - Ending $ 514,293 $ 427,693 $ 327,695 $ 399,818 $ 72,123 Dental Fund Page 7

13 POUDRE LEARNING CENTER FUND EXPENDITURE AND TRANSFER DETAIL Audited Audited Revised YTD % Actual / Actual Actual Budget Actual Variance Budget REVENUES Local Sources $ 197,195 $ 220,901 $ 217, ,843 $ (45,157) 79% TOTAL REVENUES 197, , , ,843 (45,157) 79% EXPENDITURES Instructional 3,017 2,709 15,000 3,993 14,999 27% Support Services Student Support % Instructional Staff Support 122, , ,472 93,173 36,299 72% General Administration % School Administration 18,740 32,471 46,416 32,129 14,287 69% Business Services % Operations & Maintenance 22,198 35,364 65,112 30,949 34,163 48% Student Transportation % Other Support Services 340 4,648 5,000 4, % TOTAL EXPENDITURES 166, , , ,722 96,278 63% Net Change in Fund Balance 30,301 19,190 (44,000) 7,121 51,121 Fund Balance - Beginning 42,798 73,099 92,289 92,289 - Fund Balance - Ending $ 73,099 92,289 $ 48,289 $ 99,410 $ 51,121 Poudre Learning Center Fund Page 8

14 RISK MANAGEMENT FUND EXPENDITURE AND TRANSFER DETAIL Audited Audited Revised YTD % Actual / Actual Actual Budget Actual Variance Budget REVENUES Other Local Revenue 2,029 23,258 40,000 55,053 15, % TOTAL REVENUES 2,029 23,258 40,000 55,053 15, % EXPENDITURES Instructional % Support Services Student Support % Instructional Staff Support % General Administration % School Administration % Business Services % Operations & Maintenance % Student Transportation % Other Support Services 1,622,750 1,633,836 1,740,000 1,645,856 94,144 95% TOTAL EXPENDITURES 1,622,750 1,633,836 1,740,000 1,645,856 94,144 95% EXCESS OF REVENUES OVER (UNDER) EXPENDITURES (1,620,722) (1,610,578) (1,700,000) (1,590,802) (109,198) 94% OTHER FINANCING SOURCES (USES) General Fund 1,700,000 1,700,000 1,700,000 1,275, ,000 75% TOTAL OTHER FINANCING SOURCES (USES) 1,700,000 1,700,000 1,700,000 1,275, ,000 75% Net Change in Fund Balance 79,278 89,422 - (315,802) 315,802 Fund Balance - Beginning 131, , , ,430 - Fund Balance - Ending $ 211,008 $ 300,430 $ 300,430 $ (15,372) $ 315,802 Risk Management Fund Page 9

15 COLORADO PRESCHOOL PROGRAM FUND EXPENDITURE AND TRANSFER DETAIL Audited Audited Revised YTD % Actual / Actual Actual Budget Actual Variance Budget REVENUES Local Sources $ - $ - $ - $ - $ - 0% TOTAL REVENUES % EXPENDITURES Instructional 1,929,487 1,974,153 2,061,455 1,555,111 (506,344) 75% Support Services Student Support % Instructional Staff Support 157,621 90,631 96,688 61,310 (35,378) 63% General Administration % School Administration 55,796 70,290 80,674 57,996 (22,678) 72% Business Services % Operations & Maintenance % Student Transportation % Other Support Services 105,082-67,382 - (67,382) 0% TOTAL EXPENDITURES 2,247,986 2,135,074 2,306,199 1,674, ,781 73% EXCESS OF REVENUES OVER (UNDER) EXPENDITURES (2,247,986) (2,135,074) (2,306,199) (1,674,418) (631,781) 73% OTHER FINANCING SOURCES (USES) General Fund 2,101,634 2,205,004 2,246,072 1,683,411 (562,661) 75% TOTAL OTHER FINANCING SOURCES (USES) 2,101,634 2,205,004 2,246,072 1,683,411 (562,661) 75% Net Change in Fund Balance (146,352) 69,930 (60,127) 8,993 69,120 Fund Balance - Beginning 288, , , ,076 - Fund Balance - Ending $ 142,146 $ 212,076 $ 151,949 $ 221,069 $ (69,120) Colorado Preschool Program Fund Page 10

16 FOOD SERVICE FUND EXPENDITURE AND TRANSFER DETAIL Audited Audited Revised YTD % Actual / Actual Actual Budget Actual Variance Budget REVENUES Local Sources $ 1,163,141 $ 1,153,991 $ 1,566,566 1,537,931 (28,635) 98% State Sources 176, , , ,564 (43,376) 75% Federal Sources 7,928,771 7,961,562 8,231,292 5,154,106 (6,693,361) 63% TOTAL REVENUES 9,268,690 9,280,774 9,969,798 6,820,602 (6,693,361) 68% EXPENDITURES Supporting Services - Operations & Maintenance 66,683 22,809 30,000 12,940 17,060 43% Food Service Operations 8,677,317 9,568,457 10,138,626 7,735,863 2,402,763 76% Capital Outlay 258, TOTAL EXPENDITURES 9,002,423 9,591,266 10,168,626 7,748,804 2,419,822 76% Net Change in Fund Balance 266,268 (310,492) (198,828) (928,202) 729,374 Net Assets - Beginning, as Restated 2,199,459 2,465,726 2,155,234 2,155,234 - Net Assets - Ending $ 2,465,726 $ 2,155,234 $ 1,956,406 $ 1,227,032 $ 729,374 Food Service Fund Page 11

17 Food Service Fund Revenues 10,000,000 9,000,000 8,000,000 7,000,000 6,000,000 5,000,000 4,000,000 3,000,000 2,000,000 1,000, Audited Audited ,000,000 Food Service Fund Expenditures 10,000,000 8,000,000 6,000,000 4,000,000 2,000, Audited Audited Food Service Fund Revenues and Expenditures Graphs Page 12

18 GRANTS FUND EXPENDITURE AND TRANSFER DETAIL Audited Audited Revised YTD % Actual / Actual Actual Budget Actual Variance Budget REVENUES Local Sources $ 1,021,601 $ 1,260,305 $ 1,250,000 $ 934,779 (315,221) 75% State Sources 1,030, ,570 1,500, ,948 (794,052) 47% Federal Sources 13,451,485 12,956,519 14,250,000 9,524,767 (4,725,233) 67% TOTAL REVENUES 15,503,991 15,112,394 17,000,000 11,165,493 (5,834,507) 66% EXPENDITURES Current Instruction $ 7,905,508 $ 8,067,234 $ 9,605,000 $ 4,561,615 $ (5,043,385) 47% Support Services Student Support 2,179,109 2,276,537 2,822,000 1,971,462 (850,538) 70% Instructional Staff Support 3,899,988 3,562,564 3,927,000 2,175,994 (1,751,006) 55% School Administration 424, ,816 68,000 98,503 30, % Business Services 44,483 58,819 85,000 47,150 (37,850) 55% Operations & Maintenance 518, , , ,287 (119,714) 74% Student Transportation 454, ,242 34,000 51,310 17, % Other Support Services 77,508 6,932-3,334 3,334 Capital Outlay TOTAL EXPENDITURES 15,503,991 15,112,394 17,000,000 9,248,655 7,751,345 54% Net Change in Fund Balance ,916,839 - Fund Balance - Beginning Fund Balance - Ending $ - $ - $ - $ 1,916,839 $ - Grants Fund Page 13

19 PLATTE VALLEY YOUTH SERVICES CENTER FUND EXPENDITURE AND TRANSFER DETAIL Audited Audited Revised YTD % Actual / Actual Actual Budget Actual Variance Budget REVENUES Local Sources $ 542,405 $ 561,025 $ 550,000 $ 420,349 $ (129,651) 76% State Sources 650, , , ,985 (412,013) 46% TOTAL REVENUES 1,193,092 1,222,774 1,312, ,335 (541,663) 59% EXPENDITURES Current Instruction $ 1,119,631 $ 1,146,232 $ 1,233,128 $ 725,909 $ 507,219 59% Support Services Student Support % Instructional Staff Support 41,251 43,699 44,480 32,208 12,272 72% School Administration 258, , , ,846 94,544 65% Other Support Services % Capital Outlay % TOTAL EXPENDITURES 1,419,477 1,445,792 1,547, , ,034 60% Excess (Deficiency) of Revenues Over (Under) Expenditures (226,385) (223,018) (235,000) (162,629) (72,371) 69% OTHER FINANCING SOURCES (USES) General Fund 226, , , ,750 56,250 76% TOTAL OTHER FINANCING SOURCES (USES) 226, , , ,750 56,250 76% Net Change in Fund Balance ,121 (16,121) Fund Balance - Beginning Fund Balance - Ending $ - $ - $ - $ 16,121 $ (16,121) Platte Valley Youth Services Center Fund Page 14

20 BOND REDEMPTION FUND EXPENDITURE AND TRANSFER DETAIL Audited Audited Revised YTD % Actual / Actual Actual Budget Actual Variance Budget REVENUES Local Sources Property Taxes $ 10,441,781 $ 9,710,896 $ 10,020,763 $ 3,551,835 $ (6,468,928) 35% Investment Earnings (343) (4,511) - 1,121 1, % TOTAL REVENUES 10,441,438 9,706,385 10,020,763 3,552,956 (6,467,807) 35% EXPENDITURES Current Fiscal Charges 255,608 2,900 20,000 6,425 13,575 32% Debt Service Principal 6,973,183 7,532,597 8,037,294 7,813, ,558 97% Interest 3,010,539 1,691,871 1,483,963 1,028, ,683 69% TOTAL EXPENDITURES 10,239,330 9,227,368 9,541,257 8,848, ,816 93% OTHER FINANCING SOURCES (USES) Transfers % Sale of Bonds 48,085, % Premium on Bonds 243, % Bond Refunding Escrow Agent (48,075,987) % TOTAL OTHER FINANCING SOURCES (USES) 252, % Net Change in Fund Balance 454, , ,506 (5,295,485) (5,774,991) Fund Balance - Beginning 11,638,634 12,093,175 12,572,192 12,572,192 - Fund Balance - Ending $ 12,093,175 $ 12,572,192 $ 13,051,698 $ 7,276,707 $ (5,774,991) Bond Redemption Fund Page 15

21 CAPITAL PROJECTS FUND EXPENDITURE AND TRANSFER DETAIL Audited Audited Revised YTD % Actual / Actual Actual Budget Actual Variance Budget REVENUES Local Sources Investment Earnings $ 2,902 $ 8,648 $ 10,000 $ 14,416 $ 4, % Other 2,342, ,882 4,015,000 14,753 (4,000,247) 0.37% TOTAL REVENUES 2,345, ,530 4,025,000 29,169 (3,995,831) 1% EXPENDITURES Current Instruction % Support Services Student Support 40, % Instructional Staff Support % Business Services - 36, % Operations & Maintenance 38, ,789 1,500, , ,226 37% Student Transportation - 162, % Other Support Services 73,588 1,772, ,073 (511,073) 0% Capital Outlay Land % Buildings 1,608,581-4,525,000-4,525,000 0% Transportation Equipment 718, % 2,480,114 2,945,121 6,025,000 1,063,847 4,961,153 18% TOTAL EXPENDITURES EXCESS OF REVENUES OVER (UNDER) EXPENDITURES (134,701) (2,317,591) (2,000,000) (1,034,678) (965,322) 52% OTHER FINANCING SOURCES (USES) Bond Redemption Fund General Fund 750, ,000 2,000,000 1,375, ,000 69% TOTAL OTHER FINANCING SOURCES (USES) 750, ,000 2,000,000 1,375, ,000 69% Net Change in Fund Balance 615,299 (1,567,591) - 340,322 (340,322) Fund Balance - Beginning 2,658,459 3,273,758 1,706,167 1,706,167 - Fund Balance - Ending $ 3,273,758 $ 1,706,167 $ 1,706,167 $ 2,046,489 $ (340,322) Capital Projects Fund Page 16

22 AGENCY FUNDS EXPENDITURE AND TRANSFER DETAIL Audited Audited Revised YTD Actual Actual Budget Actual Student Activities Fund Beginning Balance $ 1,028,024 $ 973,966 $ 949,464 $ 949,464 Receipts 1,238,612 1,486,043 1,750,000 1,190,013 Total Resources 2,266,636 2,460,009 2,699,464 2,139,477 Disbursements 1,292,670 1,510,545 1,750, ,844 Ending Balance $ 973,966 $ 949,464 $ 949,464 $ 1,244,634 Scholarships Fund Beginning Balance $ 116,256 $ 114,351 $ 112,980 $ 112,979 Receipts 4,620 10,726 20, ,028 Total Resources 120, , , ,007 Disbursements 6,525 12,098 20,000 3,276 Ending Balance $ 114,351 $ 112,979 $ 112,980 $ 399,731 Athletics Fund Beginning Balance $ 148,908 $ 180,211 $ 209,718 $ 209,718 Receipts 210, , , ,975 Total Resources 358, , , ,693 Disbursements 178, , , ,188 Ending Balance $ 180,211 $ 209, , ,505 Total Agency Fund Balance $ 1,268,527 $ 1,272,161 $ 1,272,162 $ 1,886,870 Agency Funds Page 17