Weld County School District 6 Quarterly Financial Report March 31, 2015

Transcription

1 Weld County School District 6 Quarterly Financial Report March 31, 2015 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, 2015 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 and Investment Portfolio Diversification Report. The format of these financial statements presents the audited financial statements for the and fiscal years, as well as the Board of Education Revised Budget. The year todate 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 $110 million and expenditures and transfers were $107 million. Of the YTD total budget, 69% of all revenues have been received and 66% and 75% 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 February 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. Delinquent Taxes, Penalties, & Interest / Abatements Variances associated with these two revenues are as a result of the positive turnaround of the economy. The district has seen an increase in delinquent tax collections over the last two years. 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, 2015, total General Fund expenditures were 66% of the budget. Salaries and benefits together represent over 82% 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 $641k and expenditures were $685k. Of the YTD total budget, 64% of all revenues have been received and 62% 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 $132k in revenues for the Poudre Learning Center Fund and YTD expenditures were $120k. Of the YTD total budget, 64% of revenues have been received and 58% 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 $1,015 and $1.3 million, respectively, and expenditures were $1.5 million. Of the YTD total budget, 20% of all revenues and 75% of all transfers have been received and 87% 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 $1.6 million for the Preschool Program Fund and expenditures were $1.6 million. Of the YTD total budget, 75% of transfers have been received and 68% 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 $7.4 million and expenditures were $7 million. Of the YTD total budget, 75% of all revenues and 68% 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 $10.3 million and expenditures were $9.1 million. Of the YTD total budget, 58% of all revenues have been received and 51% 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 $910k and $248k, respectively, and expenditures were $817k. Of the YTD total budget, 80% of all revenues and 75% of transfers have been received and 56% 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 $3.5 million and expenditures were $8.6 million. Of the YTD total budget, 33% of all revenues have been received and 86% 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 February 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 and Zion s 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 $2.3 million and $563k, respectively, and expenditures were $1.1million. Of the YTD total budget, 79% of all revenues and 75% of transfers have been received and 22% of expenditures have been expended. Explanation of Significant Variance Items Revenues and Transfers Local Sources Revenue earnings are higher than budgeted as a result of an insurance settlement for a claim filed due to damaged roofs at the Facilities building and Bella Romero Academy K 3 school. These funds will be utilized to support a roof replacement in the spring of Additionally, through an IGA with the City of Greeley, funds were provided to install field turf at the District 6 Stadium football and soccer fields. The funds have been received to support these projects. 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.

6 Weld County School District 6 FUND BALANCE WORKSHEET Fund Audited Audited Fund Balance Fund Balance YTD YTD Expenditures Fund Balance 6/30/2013 6/30/2014 Revenues & Transfers 6/30/2015 General Funds 10 General 22,349,250 19,978, ,275, ,715,111 23,539, Dental 392, , , , , Poudre Learning Center 20,556 42, , ,631 54, Risk Management 496, ,730 1, ,810 (77,065) 19 Preschool Program 491, ,498 - (40,056) 248,442 Total General Funds 23,750,555 20,790, ,049, ,689,513 24,069,875 Special Revenue Funds 21 Food Service 2,862,000 3,512,297 7,371,305 7,017,459 3,866, Grant ,300,765 9,114,986 1,185, Platte Valley Youth Services , , ,957 Total Special Revenue Funds 2,862,000 3,512,297 18,581,735 16,702,152 5,391,880 Debt Service Funds 31 Bond Redemption 10,970,934 11,638,634 3,456,346 8,561,330 6,533,651 Total Debt Service Funds 10,970,934 11,638,634 3,456,346 8,561,330 6,533,651 Capital Projects Funds 43 Capital Projects 1,038,514 2,658,459 2,289, ,522 4,374,721 Total Capital Projects Funds 1,038,514 2,658,459 2,289, ,522 4,374,721 Agency Funds 73 Scholarships 112, , , Student Activities 1,060,156 1,028, , ,087 1,097, Athletic Activities 148, , , , ,699 Total Agency Funds 1,320,752 1,293,188 1,084, ,356 1,396,678 TOTALS 39,942,755 39,892, ,462, ,507,873 41,766,804 Fund Balance Worksheet Page 1

7 SUMMARY OF RESOURCES,, RESERVES AND TRANSFERS GENERAL OPERATING FUND Audited Audited Revised YTD Actual Actual Budget Actual Variance Local Sources $ 35,021,050 $ 35,044,875 $ 36,380,134 $ 16,139,775 $ (20,240,359) State Sources 99,100, ,865, ,767,446 94,135,970 (28,631,476) TOTAL 134,121, ,910, ,147, ,275,745 (48,871,835) Instructional 71,301,774 70,468,511 71,309,193 44,203,440 27,105,753 Support Services Student Support 6,080,436 5,959,262 6,328,753 4,110,797 2,217,956 Instructional Staff Support 6,225,658 6,340,271 6,995,734 4,548,447 2,447,287 General Administration 1,297,209 1,378,394 1,381, , ,665 School Administration 8,200,120 8,574,291 9,072,874 6,092,149 2,980,725 Business Services 2,073,654 2,058,032 2,437,083 1,671, ,872 Operations & Maintenance 11,020,447 11,710,514 12,197,469 8,072,617 4,124,852 Student Transportation 4,275,629 4,645,094 4,856,401 3,302,358 1,554,043 Other Support Services 3,423,474 4,327,803 5,154,438 4,264, ,549 Capital Outlay Payments Made to Charter Schools: Union Colony Secondary 2,709,003 3,201,182 3,794,380 2,501,935 1,292,445 Union Colony Elementary 2,327,815 2,654,287 3,059,296 2,085, ,371 University 8,098,559 11,182,608 12,928,605 8,866,329 4,062,276 Frontier 8,419,720 8,989,978 10,673,697 8,017,109 2,656,588 Salida del Sol - - 4,136,452 3,152,945 1,363,788 Westridge 1,203,087 1,116,902 1,559,312 1,201, ,890 TOTAL 136,656, ,607, ,885, ,053,885 53,212,061 TOTAL TRANSFERS (2,776,835) (3,673,811) (4,881,634) (3,661,225) (1,220,409) TOTAL /RESERVES/TRANSFERS 139,433, ,280, ,767, ,715,111 54,432,469 TOTAL BEGINNING BALANCES & RESERVES 27,660,698 22,349,250 22,349,250 19,978,824 2,370,426 ENDING FUND BALANCE $ 22,349,250 $ 19,978,824 $ 20,729,531 $ 23,539,458 $ 3,190,208 Summary of Resources, Expendtirue, Reserves and Transfers Page 2

8 GENERAL OPERATING FUND REVENUE DETAIL Local Sources Property Taxes $ 26,300,215 $ 25,925,558 $ 26,329,698 $ 9,103,926 $ (17,225,772) 35% Specific Ownership Tax 2,795,387 2,983,658 3,113,534 2,285,126 (828,408) 73% Delinquent Taxes, Penalties & Interest 61,894 50,283 50,000 20,178 (29,822) 40% Abatements 173,339 5,740 5,000 5, % Summer School Fees, Intercession 2,639 2,265 5,000 6,133 1, % Other Tuition ,000 - (10,000) 0% Earnings on Investments (38,105) 137, , ,609 26, % Pupil Activities 9, % District Services Provided to Charter Schools 3,408,378 4,015,519 4,419,902 3,450,309 (969,593) 78% District Services Provided to Food Service 332,966 7,294-5,388 5,388 0% Indirect Cost Revenue 804, , , ,547 (332,453) 34% All Other Local Revenue 1,169,902 1,354,604 1,817, ,735 (878,265) 52% Total Local Revenue 35,021,050 35,044,875 36,380,134 16,139,775 (20,240,359) 44% Intermediate Sources Impact Fees (Colo Div of Wildlife) % Total Intermediate Revenue % State Sources State Equalization 93,541, ,276, ,782,498 84,556,955 (28,225,543) 75% Charter School Capital Construction ,760 - (802,760) 0% Full Day Kindergarten Hold Harmless 238, , , ,187 (2,276) 99% Other State Revenue 1,001, ,880 1,101,006 1,713, , % At-Risk Funding - 1,159,424 1,000,000 1,000, % Vocational Education 298, , , ,414 (106,828) 57% Special Ed Reimbursement 3,081,055 3,588,257 3,555,067 3,248,781 (306,286) 91% English Language Proficiency Act - - 1,799,233 1,799, % Gifted and Talented Reimbursement , , % Transportation 939, ,954 1,225,555 1,225, % Audit Adjustments - (190,003) (200,000) - 200,000 0% Total State Revenue 99,100, ,865, ,767,446 94,135,970 57,140,771 77% TOTAL $ 134,121,970 $ 143,910,517 $ 159,147,580 $ 110,275,745 $ 36,900,412 69% General Operating Fund Revenue Detail Page 3

9 GENERAL OPERATING FUND EXPENDITURE AND TRANSFER DETAIL Current Instruction $ 71,301,774 $ 70,468,509 $ 71,309,193 $ 44,203,440 $ 27,105,753 62% Support Services: Student Support Services 6,080,437 5,959,262 6,328,753 4,110,797 2,217,956 65% Instructional Staff Support Services 6,225,658 6,340,271 6,995,734 4,548,447 2,447,287 65% General Administration Services 1,297,209 1,378,394 1,381, , ,665 70% School Administration Services 8,200,120 8,574,291 9,072,874 6,092,149 2,980,725 67% Business Services 2,073,654 2,058,032 2,437,083 1,671, ,872 69% Operations & Maintenance 11,020,447 11,710,514 12,197,469 8,072,617 4,124,852 66% Student Transportation 4,275,629 4,645,094 4,856,401 3,302,358 1,554,043 68% Other Support Services 3,423,474 4,327,803 5,154,438 4,264, ,549 83% Payments Made to Charter Schools: Union Colony Secondary 2,709,004 3,201,182 3,794,380 2,501,935 1,292,445 66% Union Colony Elementary 2,327,815 2,654,287 3,059,296 2,085, ,371 68% University 8,098,559 11,182,608 12,928,605 8,866,329 4,062,276 69% Frontier 8,419,720 8,989,978 10,673,697 8,017,109 2,656,588 75% Salida del Sol - - 4,516,733 3,152,945 1,363,788 70% West Ridge 1,203,088 1,116,902 1,559,312 1,201, ,890 77% TOTAL 136,656, ,607, ,265, ,053,885 53,212,061 66% Excess of Revenues Over (Under) Expenditures (2,534,616) 1,303,387 2,881,634 7,221,860 (4,340,226) 251% OTHER FINANCING SOURCES (USES) Transfers Out Capital Projects - (750,000) (750,000) (562,500) (187,500) 75% Platte Valley Youth Services (258,669) (217,000) (330,000) (247,500) (82,500) 75% Preschool (1,518,166) (1,606,811) (2,101,634) (1,576,225) (525,409) 75% Insurance Reserve (1,000,000) (1,100,000) (1,700,000) (1,275,000) (425,000) 75% TOTAL OTHER FINANCING SOURCES (USES) (2,776,835) (3,673,811) (4,881,634) (3,661,225) (1,220,409) 75% NET CHANGE IN FUND BALANCE (5,311,451) (2,370,424) (2,000,000) 3,560,634 (5,560,634) Fund Balance, Beginning 27,660,698 22,349,248 19,978,824 19,978,824 - Fund Balance, Ending $ 22,349,248 $ 19,978,824 $ 17,978,824 $ 23,539,458 $ (5,560,634) General Operating Fund Expenditure and Transfer Detail Page 4

10 $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 $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 5

11 DENTAL FUND EXPENDITURE AND TRANSFER DETAIL Dental Premiums $ 940,891 $ 862,798 $ 1,000, , ,912 64% TOTAL 940, ,798 1,000, , ,912 64% Instructional % Support Services Student Support % Instructional Staff Support % General Administration % School Administration % Business Services % Operations & Maintenance % Student Transportation % Other Support Services 885, ,194 1,100, , ,982 62% TOTAL 885, ,194 1,100, , ,982 62% Net Change in Fund Balance 55,488 (44,396) (100,000) (43,930) 56,070 44% Fund Balance - Beginning 337, , , ,270 - Fund Balance - Ending $ 392,666 $ 348,270 $ 248,270 $ 304,340 $ 56,070 Dental Fund Page 6

12 POUDRE LEARNING CENTER FUND EXPENDITURE AND TRANSFER DETAIL Local Sources $ 119,464 $ 187,805 $ 207, ,532 $ (75,468) 64% TOTAL 119, , , ,532 (75,468) 64% Instructional 1,250 3,332 15,000 2,499 12,501 17% Support Services Student Support % Instructional Staff Support 54, , ,805 91,481 34,324 73% General Administration % School Administration 29,793 30,071 32,395 12,826 19,569 40% Business Services % Operations & Maintenance 13,428 13,323 29,500 12,485 17,015 42% Student Transportation % Other Support Services - 4,412 4, ,960 8% TOTAL 98, , , ,631 87,369 58% Net Change in Fund Balance 20,556 22,242-11,901 11,901 Fund Balance - Beginning - 20,556 42,798 42,798 - Fund Balance - Ending $ 20,556 42,798 $ 42,798 $ 54,699 $ 11,901 Poudre Learning Center Fund Page 7

13 RISK MANAGEMENT FUND EXPENDITURE AND TRANSFER DETAIL Other Local Revenue 7,144 5,523 5,000 1,015 (3,985) 20% TOTAL 7,144 5,523 5,000 1,015 (3,985) 20% Instructional % Support Services Student Support % Instructional Staff Support % General Administration % School Administration % Business Services % Operations & Maintenance % Student Transportation % Other Support Services 1,434,014 1,469,933 1,705,000 1,484, ,190 87% TOTAL 1,434,014 1,469,933 1,705,000 1,484, ,190 87% EXCESS OF OVER (UNDER) (1,426,870) (1,464,410) (1,700,000) (1,483,795) (216,205) 87% OTHER FINANCING SOURCES (USES) General Fund 1,000,000 1,100,000 1,700,000 1,275, ,000 75% TOTAL OTHER FINANCING SOURCES (USES) 1,000,000 1,100,000 1,700,000 1,275, ,000 75% Net Change in Fund Balance (426,870) (364,410) - (208,795) 208,795 Fund Balance - Beginning 923, , , ,730 - Fund Balance - Ending $ 496,140 $ 131,730 $ 131,730 $ (77,065) $ 208,795 Risk Management Fund Page 8

14 COLORADO PRESCHOOL PROGRAM FUND EXPENDITURE AND TRANSFER DETAIL Local Sources $ - $ - $ - $ - $ - 0% TOTAL % Instructional 1,464,899 1,524,105 2,058,173 1,473,431 (584,741.58) 72% Support Services Student Support % Instructional Staff Support 42, , , ,240 (54,766) 66% General Administration % School Administration 19,140 26,195 54,567 34,610 (19,957.31) 63% Business Services % Operations & Maintenance % Student Transportation % Other Support Services 75, ,082 - (105,082) 0% TOTAL 1,602,704 1,810,256 2,380,828 1,616, ,547 68% EXCESS OF OVER (UNDER) (1,602,704) (1,810,256) (2,380,828) (1,616,281) (764,547) 68% OTHER FINANCING SOURCES (USES) General Fund 1,518,166 1,606,811 2,101,634 1,576,225 (525,409) 75% TOTAL OTHER FINANCING SOURCES (USES) 1,518,166 1,606,811 2,101,634 1,576,225 (525,409) 75% Net Change in Fund Balance (84,538) (203,445) (279,194) (40,056) 239,138 14% Fund Balance - Beginning 576, , , ,498 - Fund Balance - Ending $ 491,943 $ 288,498 $ 9,304 $ 248,442 $ (239,138) Colorado Preschool Program Fund Page 9

15 FOOD SERVICE FUND EXPENDITURE AND TRANSFER DETAIL Local Sources $ 1,139,685 $ 1,087,782 $ 1,419, ,485 (500,421) 65% State Sources 194, , , ,934 (13,093) 92% Federal Sources 6,872,599 7,775,421 8,213,268 6,309,886 (7,293,783) 77% TOTAL 8,206,787 8,989,065 9,788,201 7,371,305 (7,293,783) 75% Instructions % Supporting Services - 0% Student Support Servies % Instructional Staff Support Servies % General Administration Servies % School Administration Services % Business Services % Operations & Maintenance ,000 45,261 54,739 45% Student Tranportation Food Service Operations 7,839,240 8,338,529 10,068,201 6,972,198 3,096,003 69% Capital Outlay 25, , ,000 0% TOTAL 7,864,347 8,338,769 10,288,201 7,017,459 3,270,742 68% Net Change in Fund Balance 342, ,297 (500,000) 353,846 (853,846) -71% Net Assets - Beginning 2,519,560 2,862,000 3,512,297 3,512,297 - Net Assets - Ending $ 2,862,000 $ 3,512,297 $ 3,012,297 $ 3,866,143 $ (853,846) Food Service Fund Page 10

16 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 YTD ,000,000 8,000,000 7,000,000 6,000,000 5,000,000 4,000,000 3,000,000 2,000,000 1,000,000 - Food Service Fund Expenditures Audited YTD Food Service Fund Revenues and Expenditures Graphs Page 11

17 GRANTS FUND EXPENDITURE AND TRANSFER DETAIL Local Sources $ 580,607 $ 829,545 $ 1,000,000 $ 671,566 (328,434) 67% State Sources 1,337,256 2,305,265 2,450, ,582 (1,768,418) 28% Federal Sources 13,360,726 13,091,897 14,250,000 8,947,618 (5,302,382) 63% TOTAL 15,278,589 16,226,706 17,700,000 10,300,765 (7,399,235) 58% Current Instruction $ 7,906,205 $ 8,878,198 $ 9,522,073 $ 4,778,232 $ (4,743,841) 50% Support Services Student Support 1,795,297 2,239,369 2,408,960 1,403,311 (1,005,649) 58% Instructional Staff Support 4,524,086 4,339,965 4,767,698 2,157,129 (2,610,569) 45% School Administration 719, , , ,702 (411,205) 31% Business Services 43,802 43,028 64,893 33,362 (31,531) 51% Operations & Maintenance 151,528 31, , ,181 (15,412) 91% Student Transportation 93,970 95, , , , % Other Support Services 43,788 23,537 28,022 14,310 (13,712) 51% Capital Outlay TOTAL 15,278,589 16,226,706 17,700,000 9,114,986 8,585,014 51% Net Change in Fund Balance ,185,780 - Fund Balance - Beginning Fund Balance - Ending $ - $ - $ - $ 1,185,780 $ - Grants Fund Page 12

18 PLATTE VALLEY YOUTH SERVICES CENTER FUND EXPENDITURE AND TRANSFER DETAIL Local Sources $ 462,681 $ 496,205 $ 500,000 $ 543,071 $ 43, % State Sources 623, , , ,593 (269,622) 58% TOTAL 1,086,421 1,132,420 1,136, ,665 (226,550) 80% Current Instruction $ 994,142 $ 1,091,748 $ 1,164,814 $ 634,525 $ 530,289 54% Support Services Student Support 103, % Instructional Staff Support 37,975 40,485 41,267 29,106 12,161 71% School Administration 209, , , , ,557 59% Other Support Services % Capital Outlay % TOTAL 1,345,090 1,349,420 1,466, , ,007 56% Excess (Deficiency) of Revenues Over (Under) Expenditures (258,669) (217,000) (330,000) 92,457 (422,457) -28% OTHER FINANCING SOURCES (USES) General Fund 258, , , ,500 82,500 75% TOTAL OTHER FINANCING SOURCES (USES) 258, , , ,500 82,500 75% Net Change in Fund Balance ,957 (339,957) Fund Balance - Beginning Fund Balance - Ending $ - $ - $ - $ 339,957 $ (339,957) Platte Valley Youth Services Center Fund Page 13

19 BOND REDEMPTION FUND EXPENDITURE AND TRANSFER DETAIL Local Sources Property Taxes $ 10,635,178 $ 10,778,705 $ 10,448,916 $ 3,456,346 $ (6,992,570) 33% Investment Earnings 1,302 (741) 2,500 - (2,500) 0% TOTAL 10,636,480 10,777,964 10,451,416 3,456,346 (6,995,070) 33% Current Fiscal Charges 5,300 5,625 20,000 1,100 18,900 6% Debt Service Principal 6,020,000 6,612,358 6,973,183 6,973, % Interest 3,520,353 3,337,778 3,010,539 1,587,047 1,423,492 53% TOTAL 9,545,653 9,955,761 10,003,722 8,561,330 1,442,392 86% OTHER FINANCING SOURCES (USES) Transfers Out (154,503) % TOTAL OTHER FINANCING SOURCES (USES) (154,503) Net Change in Fund Balance 1,090, , ,694 (5,104,983) (5,552,677) Fund Balance - Beginning 9,880,107 10,970,934 11,638,634 11,638,634 - Fund Balance - Ending $ 10,970,934 $ 11,638,634 $ 12,086,328 $ 6,533,651 $ (5,552,677) Bond Redemption Fund Page 14

20 CAPITAL PROJECTS FUND EXPENDITURE AND TRANSFER DETAIL Local Sources Investment Earnings $ 109,123 $ 2,415 $ 5,000 $ 2,072 $ (2,928) 41% Other 429, ,141 2,904,474 2,287,711 (616,763) 79% TOTAL 538, ,556 2,909,474 2,289,783 (619,691) 79% Current Instruction % Support Services - Student Support 35, ,717 60,562 7,155 89% Instructional Staff Support % Business Services 14, % Operations & Maintenance - 21,610 1,639, ,474 1,453,977 11% Student Transportation ,994 (718,994) 0% Other Support Services 243,818 2, , ,991 68,982 71% Capital Outlay Land % Buildings 3,299,586-2,325,000-2,325,000 0% Transportation Equipment - 708, , ,333 0% TOTAL 3,593, ,071 5,159,474 1,136,022 4,023,452 22% EXCESS OF OVER (UNDER) (3,055,181) (460,515) (2,250,000) 1,153,762 (3,403,762) -51% OTHER FINANCING SOURCES (USES) Bond Redemption Fund - 154, General Fund - 750, , , ,500 75% TOTAL OTHER FINANCING SOURCES (USES) - 904, , , ,500 75% Net Change in Fund Balance (3,055,181) 443,988 (1,500,000) 1,716,262 (3,216,262) Fund Balance - Beginning 4,093,695 2,214,471 2,658,459 2,658,459 - Fund Balance - Ending $ 1,038,514 $ 2,658,459 $ 1,158,459 $ 4,374,721 $ (3,216,262) Capital Projects Fund Page 15

21 AGENCY FUNDS EXPENDITURE AND TRANSFER DETAIL Audited Audited Revised YTD Actual Actual Budget Actual Student Activities Fund Beginning Balance $ 1,116,376 $ 1,060,155 $ 1,028,024 $ 1,028,024 Receipts 1,323,271 1,373,429 1,750, ,190 Total Resources 2,439,647 2,433,584 2,778,024 1,928,214 Disbursements 1,379,491 1,405,561 1,750, ,087 Ending Balance $ 1,060,156 $ 1,028,024 $ 1,028,024 $ 1,097,127 Scholarships Fund Beginning Balance $ 113,458 $ 112,475 $ 116,256 $ 116,256 Receipts 7,202 11,677 20, Total Resources 120, , , ,905 Disbursements 8,185 7,896 20, Ending Balance $ 112,475 $ 116,256 $ 116,256 $ 116,852 Athletics Fund Beginning Balance $ 145,864 $ 148,121 $ 148,908 $ 148,908 Receipts 191, , , ,008 Total Resources 337, , , ,916 Disbursements 189, , , ,217 Ending Balance $ 148,121 $ 148, , ,699 Total Agency Fund Balance $ 1,320,752 $ 1,293,188 $ 1,293,188 $ 1,396,678 Agency Funds Page 16