General Fund Revenue

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1 Millions Percent of Kathy Steinert, Director of Fiscal Services Phone: SE Salmon Ave Redmond, OR Date: May 23, 2014 To: Redmond School District Board and Finance Committee From: Kathy Steinert, Director of Fiscal Services Subject: Financial Reports for April 2014 $60 $50 $ Last Year $ This Year % Last Year % This Year General Fund 93.2% $ % $ % 100% 90% 80% $40 70% 60% $30 50% $20 40% 30% $10 20% 10% $0 Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun 0% General Fund s Year-to-date revenues through April 30, 2014 are $50,976,480 which is 10.7% higher than last year s year-to-date revenue. Approximately 86% of the increase in revenues is attributable to the growth in the State School Fund (SSF) which is 15% above the prior year. The primary driver behind higher SSF revenue is a higher allocation of state revenues to K-12 education (39.5% vs. 38.0% in the biennium). In addition, District enrollment has increased by approximately 110 ADMr mainly due to the start-up of Redmond K-12 Online. The remainder of the current year increase in revenues is primarily a result of higher property tax revenues due to an increase in local taxable assessed values. We have collected 93.2% of our $54.7 million budgeted revenues. That is slightly more than the prior year when we collected 92.2% of budget as of April 30, 2013.

2 Expenses Millions Percent of General Fund Expenses $60 $50 $ Last Year $ This Year % Last Year % This Year 67.6% $ % $ % 90% 80% 70% $40 60% $30 50% 40% $20 30% $10 20% 10% $0 Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun 0% General Fund s Year-to-date expenditures through April 30, 2014 are $40,609,100 which is 10.9% higher than the prior year. Salary-related expenses have increased 10.6% over the prior year primarily due to the restoration of 12 of 15 contract days that were cut in Purchased services have increased by 9.9%. Almost 46% of the increase is because of the addition of the cost of Connection Learning online curriculum for Redmond K-12 Online which was $335,000 through April Utilities costs also contribute to the increase, primarily heating fuel costs which have increased by $115,700 or 35.9% versus the prior year. Supplies and Materials are 22.3% higher than the prior year largely due to the $209,000 purchase of laptop computers for elementary and middle school teachers which occurred at the beginning of the school year. As a percent of budgeted expenditures, we have spent 67.6% compared to expenditures for the same period last year of 66.7% of budget.

3 Redmond School District FY Year-to-Date versus through April 30, 2014 General Fund - s Collected FY through April 30, 2013 % Collected Not Received % Not Received Beginning Fund Balance $ 5,004,500 $ 5,575, % s: Local Sources $ 17,625,700 $ 17,028,455 97% $597,245 3% Intergovernmental $ 70,000 $ 72, % State Sources $ 32,183,800 $ 28,797,053 89% $3,386,747 11% Federal Sources $ 28,900 $ 141, % Total s $ 49,908,400 $ 46,039,025 92% $3,869,375 8% Total Resources $ 54,912,900 $ 51,614,034 94% $3,298,866 6% Collected FY through April 30, 2014 % Collected Not Received % Not Received Beginning Fund Balance $ 5,406,800 $ 5,565, % s: Local Sources $ 18,120,200 $ 17,797,089 98% $ 323,111 2% Intergovernmental $ 70,000 $ 85, % State Sources $ 36,458,100 $ 33,040,918 91% $ 3,417,182 9% Federal Sources $ 5,900 $ 10, % Other Sources $ 32,700 $ 42, % Total s $ 54,686,900 $ 50,976,480 93% $ 3,710,420 7% Total Resources $ 60,093,700 $ 56,541,717 94% $ 3,551,983 6% Prepared May 21, 2014.

4 Redmond School District FY Year-to-Date versus through April 30, 2014 General Fund - s FY through April 30, 2013 % Expended Remaining Balance % Remaining s by Object: Salaries $ 25,826,500 $ 17,762,431 69% $ 8,064,069 31% Associated Payroll Costs $ 14,060,100 $ 9,510,572 68% $ 4,549,528 32% Purchased Services $ 9,747,000 $ 7,403,164 76% $ 2,343,836 24% Supplies & Materials $ 1,773,300 $ 1,160,584 65% $ 612,716 35% Capital Outlay $ 7,000 $ 6, % $ 20 0% Other Objects $ 613,700 $ 481,537 78% $ 132,163 22% Transfers $ 401,000 $ 301,000 75% $ 100,000 25% Contingency $ 2,484,300 $ - 0% $ 2,484, % Total s $ 54,912,900 $ 36,626,268 67% $ 18,286,632 33% FY through April 30, 2014 % Expended Remaining Balance % Remaining s by Object: Salaries $ 28,660,100 $ 19,672,298 69% $ 8,987,802 31% Associated Payroll Costs $ 15,457,700 $ 10,495,811 68% $ 4,961,889 32% Purchased Services $ 10,071,200 $ 8,135,603 81% $ 1,935,597 19% Supplies & Materials $ 2,146,000 $ 1,419,662 66% $ 726,338 34% Capital Outlay $ 10,500 $ 5,500 52% $ 5,000 48% Other Objects $ 602,900 $ 469,226 78% $ 133,674 22% Transfers $ 411,000 $ 411, % $ - 0% Contingency $ 2,734,300 $ - 0% $ 2,734, % Total s $ 60,093,700 $ 40,609,100 68% $ 19,484,600 32% Prepared May 21, 2014.

5 Redmond School District Statement of s and s FY Projection to Year-End as of May 22, 2014 General Fund - Operations Adopted Total s: Working Projection Formula : Tax $ 17,195,700 $ 17,587,200 $ 391, % $ - Federal Forest Fees $ - $ 116,000 $ 116,000 $ (4,000) -3.3% Common School Fund $ 591,800 $ 606,200 $ 14, % $ - County School Fund $ 70,000 $ 85,500 $ 15, % $ - State School Fund $ 35,858,500 $ 35,605,800 $ (252,700) -0.7% $ 222, % Total Formula $ 53,716,000 $ 54,000,700 $ 284, % $ 218, % Earnings on Investments $ 81,000 $ 79,000 $ (2,000) -2.5% $ - Local Sources - Other $ 889,900 $ 1,118,600 $ 228, % $ % Total s $ 54,686,900 $ 55,198,300 $ 511, % $ 218, % s: Salaries, Payroll Costs and Benefits: Salaries: Certified $ 17,250,200 $ 16,942,300 $ 307, % $ 18, % Classified $ 7,050,300 $ 6,759,300 $ 291, % $ (190,400) -2.9% Administrators and supervisors $ 3,287,600 $ 3,272,500 $ 15, % $ - All other salaries $ 1,071,900 $ 1,081,400 $ (9,500) -0.9% $ (22,200) -2.1% Total Salaries $ 28,660,100 $ 28,055,500 $ 604, % $ (194,000) -0.7% Payroll Costs and Benefits: PERS $ 5,949,900 $ 5,613,900 $ 336, % $ (27,100) -0.5% Medical Insurance $ 7,088,700 $ 6,928,300 $ 160, % $ 10, % Payroll Taxes $ 2,390,900 $ 2,393,000 $ (2,100) -0.1% $ (13,000) -0.5% Other PR Costs & Benefits $ 28,200 $ 31,800 $ (3,600) -12.8% $ (1,400) -4.6% Total Payroll Costs and Benefits $ 15,457,700 $ 14,967,000 $ 490, % $ (30,600) -0.2% Total Salaries, Payroll Costs and Benefits $ 44,117,800 $ 43,022,500 $ 1,095, % $ (224,600) -0.5% Purchased Services $ 10,071,200 $ 10,264,600 $ (193,400) -1.9% $ 68, % Consumable Supplies and Materials $ 2,146,000 $ 2,140,200 $ 5, % $ (11,000) -0.5% Capital Outlay $ 10,500 $ 5,700 $ 4,800 $ - Other Objects $ 602,900 $ 605,600 $ (2,700) -0.4% $ - Transfers $ 411,000 $ 421,000 $ (10,000) -2.4% $ - Total Non-Salary & APC s $ 13,241,600 $ 13,437,100 $ (195,500) -1.5% $ 57, % Total s $ 57,359,400 $ 56,459,600 $ 899, % $ (166,700) -0.3% Beginning Fund Balance $ 5,406,800 $ 5,565,200 $ 158, % $ - Net Operating Surplus / (Deficit) $ (2,672,500) $ (1,261,300) $ 1,411, % $ 52, % Projected Ending Fund Balance $ 2,734,300 $ 4,303,900 $ 1,569, % $ 52, % Ending Fund Balance as a % of 5.0% 7.8% FY Favorable / (Unfavorable) Prior Projection Variance Variance Prepared May 22, 2014.

6 Description s s Under (Over) % to General Fund Instruction $ 35,180,100 $ 23,990,183 $ 11,189, % Support Services $ 21,202,300 $ 15,774,735 $ 5,427, % Enterprise and Community Services $ 40,400 $ 35,707 $ 4, % Transfers $ 411,000 $ 411,000 $ % Debt Service $ 525,600 $ 397,475 $ 128, % Contingency $ 2,734,300 $ - $ 2,734,300 Total General Fund $ 60,093,700 $ 40,609,100 $ 19,484, % Debt Service Fund - G.O. Bonds General Obligation Bonds Debt Service $ 10,222,700 $ 1,561,261 $ 8,661, % Total Debt Service Fund - G.O. Bonds $ 10,222,700 $ 1,561,261 $ 8,661, % Capital Projects Fund Facilities Acquisition and Construction Services $ 2,260,200 $ 1,229,996 $ 1,030, % Project Contingency $ 930,800 $ - $ 930,800 Total Capital Projects Fund $ 3,191,000 $ 1,229,996 $ 1,961, % Special Funds Nutrition Service Nutrition Services $ 1,926,000 $ 1,345,546 $ 580, % Contingency $ 429,400 $ - $ 429,400 Total Nutrition Service $ 2,355,400 $ 1,345,546 $ 1,009, % Asset Replacement Funds Redmond School District FY vs. YTD April 30, 2014 s YTD April 30, 2014 Instruction $ 302,100 $ 118,023 $ 184, % Support Services $ 1,443,200 $ 605,086 $ 838, % Facilities Acquisition and Construction Services $ 76,900 $ 66,193 $ 10, % Transfers $ 2,798,800 $ 2,108,900 $ 689, % Contingency $ 1,772,800 $ - $ 1,772,800 Total Asset Replacement $ 6,393,800 $ 2,898,203 $ 3,495, % Grant Programs Instruction $ 3,960,700 $ 2,354,763 $ 1,605, % Support Services $ 782,000 $ 547,671 $ 234, % Community Services $ 31,000 $ 8,903 $ 22, % Transfers $ 32,700 $ 48,866 $ (16,166) 149.4% Total Grant Programs $ 4,806,400 $ 2,960,203 $ 1,846, % Fee Supported Funds Instruction $ 1,506,900 $ 933,789 $ 573, % Support Services $ 143,500 $ 71,884 $ 71, % Enterprise Community Services $ 286,300 $ 176,105 $ 110, % Transfers $ 191,800 $ - $ 191,800 Contingency $ 596,700 $ - $ 596,700 Total Fee Supported Programs $ 2,725,200 $ 1,181,778 $ 1,543, % Prepared May 21, Page 1 of 2

7 Description Internal Service Funds Redmond School District FY vs. YTD April 30, 2014 s s YTD April 30, 2014 s Under (Over) % to Insurance Reserve Support Services $ 722,100 $ 652,274 $ 69, % Transfers $ 284,000 $ - $ 284,000 Contingency $ 900,000 $ - $ 900,000 Total Insurance Reserve $ 1,906,100 $ 652,274 $ 1,253, % PERS Pension Bonds Debt Service $ 2,377,200 $ 818,603 $ 1,558, % Contingency $ 434,000 $ - $ 434,000 Total PERS Pension Bonds $ 2,811,200 $ 818,603 $ 1,992, % Trust and Agency Fund Instruction $ 56,000 $ - $ 56,000 Support Services $ 100 $ - $ 100 Community Services $ 15,000 $ 7,450 $ 7, % Contingency $ 12,900 $ - $ 12,900 Total Trust and Agency Funds $ 84,000 $ 7,450 $ 76, % TOTAL APPROPRIATIONS $ 94,589,500 $ 53,264,413 $ 41,325, % Plus: Unappropriated Balance * $ 2,318,600 $ - $ 2,318,600 TOTAL ALL FUNDS $ 96,908,100 $ 53,264,413 $ 43,643, % TOTAL ALL FUNDS LESS CONTINGENCY AND UNAPPROPRIATED BALANCE $ 86,778,600 $ 53,264,413 $ 33,514, % * Unappropriated ending fund balance is a reserve from which no expenditures can be made except in an emergency situation created by civil disturbance or natural disaster. UNAPPROPRIATED BALANCE New School Start Up Reserve (re-establishing Hartman Campus) $ 400,000 PERS Pension Bond Fund Reserve $ 1,872,900 Hoy Fultz Scholarship $ 20,200 Dr Jones Scholarship $ 25,500 TOTAL UNAPPROPRIATED BALANCE $ 2,318,600 Prepared May 21, Page 2 of 2