INDEPENDENCE LOCAL SCHOOLS Board Meeting

Transcription

1 Exhibit #2 INDEPENDENCE LOCAL SCHOOLS Board Meeting August 2016 Financial Reports 1

2 Independence Local Schools Fiscal Year 2017 Revenue Collection by Fund Exhibit #2 FY 17 % of Projected % of Fiscal % of Projected % of Fiscal Amount Fiscal Month Available Revenue Year Revenue Year Fund Description Fund Budgeted To date To Date Balance Collected Completed Outstanding Remaining General 001 $ 16,557,016 $ 6,714,242 $ 3,393,786 $ 9,842, % 16.67% 59.45% 83.33% Bond Retirement 002 1,127, , , , % 16.67% 53.98% 83.33% Permanent Improvement , , , , % 16.67% 64.70% 83.33% Building % 16.67% 0.00% 83.33% Food Service ,500 18,401 18, , % 16.67% 93.90% 83.33% Endowment % 16.67% 0.00% 83.33% Uniform School Supplies % 16.67% 0.00% 83.33% Public Sch. Support , , % 16.67% 98.58% 83.33% Other Grants % 16.67% 0.00% 83.33% District Agency ,600 12, % 16.67% % 83.33% Student Managed Activity ,896 43,183 31, , % 16.67% 80.88% 83.33% District Managed Activity ,000 5,404 5,404 90, % 16.67% 94.37% 83.33% State Grants ,900 69,831 69, , % 16.67% 74.87% 83.33% Federal Grants , , % 16.67% % 83.33% $ 19,485,012 $ 7,624,926 $ 3,901,081 $ 11,860, % 16.67% 60.87% 83.33% 2

3 General Fund Revenue Collection Exhibit # 2 GENERAL FUND REVENUE COLLECTION Month End Fiscal Year 2017 Actual Budget/Estimate Variance Actual Budget/Estimate Variance Real Estate $ 2,934,485 $ 2,699,200 $ 235,285 $ 6,172,485 $ 5,937,200 $ 235,285 TPP (PUPP only) 238, ,890 (6,417) 238, ,890 (6,417) Foundation 81,777 62,900 18, , ,800 16,107 Restricted Grants Home/Roll & TPP Reimb Other/Misc. 139,051 90,000 49, , ,000 11,377 Total Revenue: $ 3,393,786 $ 3,096,990 $ 296,796 $ 6,714,242 $ 6,457,890 $ 256,352 TIF Revenue $270k above forecasted amount. Refund $173k below last years 2 nd half refunds. Refunds History 3

4 Independence Local Schools Fiscal Year 2017 Expenditure Projection by Fund Exhibit #2 Fy 17 w/o Encumb. % of Fiscal % of Fiscal Amount Fiscal Month Current Available % of Projected Year % of Budget Year Fund Description Fund Expendable To date To Date Encumbrances Balance Expended Completed Available Remaining General 001 $ 16,542,206 $ 2,243,533 $ 1,231,888 $ 1,315,751 $ 12,982, % 16.67% 86.44% 83.33% Bond Retirement 002 1,058,990 5,434 5,434 $ 1,053, % 16.67% 99.49% 83.33% Permanent Improvement 003 1,063, , , ,882 $ 357, % 16.67% 47.25% 83.33% Building 004 $ 0.00% 16.67% 0.00% 83.33% Food Service ,405 24,661 8,809 35,838 $ 239, % 16.67% 91.79% 83.33% Endowment 008 3, $ 3, % 16.67% 93.54% 83.33% Uniform School Supplies 009 3,000 $ 3, % 16.67% % 83.33% Public Sch. Support , ,252 $ 34, % 16.67% 99.58% 83.33% Other Grants 019 $ 0.00% 16.67% 0.00% 83.33% District Agency ,150 $ 12, % 16.67% % 83.33% Student Managed Activity ,275 28,430 5,068 63,966 $ 138, % 16.67% 87.71% 83.33% District Managed Activity ,000 22,928 12,000 48,400 $ 24, % 16.67% 76.12% 83.33% State Grants ,419 10,940 5,669 33,154 $ 298, % 16.67% 96.81% 83.33% Federal Grants ,119 1,229 1,000 1,384 $ 103, % 16.67% 98.84% 83.33% $ 19,817,061 $ 2,898,574 $ 1,628,018 $ 1,665,625 $ 15,252, % 16.67% 85.37% 83.33% 4

5 General Fund Expenditure Exhibit #2 GENERAL FUND EXPENDITURE Month End FYTD 2017 Actual Budget/Estimate Variance Actual Budget/Estimate Variance Personnel/Salaries $ 641,561 $ 638,667 $ 2,894 $ 1,264,733 $ 1,261,839 $ 2,894 Benefits 228, ,978 (19,664) 458, ,334 (19,664) Purchased Services 185, ,556 9, , ,477 9,000 Supplies 34,787 44,421 (9,634) 58,985 68,619 (9,634) Equipment 51,222 66,949 (15,727) 51,222 66,949 (15,727) Debt Service Other/Misc. 90,447 90,447 91,445 91,445 Transfers $ 1,231,887 $ 1,265,018 $ (33,131) $ 2,243,532 $ 2,276,663 $ (33,131) 5

6 General Fund Monthly Expense Comparison Fiscal Year 2017 vs. Fiscal Year 2016 Exhibit #2 July 16 August 16 Total FYTD 17 Fiscal Year 2017 Expenses Expenses Expenses Salaries $ 623,172 $ 641,561 $ 1,264,733 Benefits $ 230,356 $ 228,314 $ 458,670 Purchase Services $ 132,921 $ 185,556 $ 318,477 Supplies $ 24,198 $ 34,787 $ 58,985 Capital Outlay $ $ 51,222 $ 51,222 Other Expenses ,447 $ 91,445 Total Expenses $ 1,011,645 $ 1,231,887 $ 2,243,532 July 15 August 15 Total FYTD 16 Fiscal Year 2016 Expenses Expenses Expenses Salaries 617, ,464 1,330,953 Benefits 230, , ,881 Purchase Services 68, , ,973 Supplies 7,302 74,553 81,855 Capital Outlay 10, , ,332 Other Expenses 1,209 84,719 85,928 Total Expenses $ 935,793 $ 1,518,129 $ 2,453,922 Over/(Under) Previous Yr. $ 75,852 $ (286,242) $ (210,390) Over/Under Salaries Benefits Purchase Services Supplies Capital Outlay Other Expenses Previous Yr. (66,220) (63,211) 11,504 (22,870) (75,110) 5,517 $ (210,390) 6

7 Independence Local Schools Fiscal Year 2017 Cash Flow by Fund Exhibit #2 7/1/2016 Fiscal Fiscal 8/31/2016 Cash Yr. to Date Yr. to Date Cash Fund Description Fund Balance Revenue Expenditures Balance General 001 $8,781,730 $ 6,714,242 $ 2,243,533 $13,252,440 Bond Retirement 002 3,080, ,880 5,434 3,593,599 Permanent Improvement , , , ,081 Building 004 Food Service 006 4,001 18,401 24,661 (2,259) Endowment 008 7, ,236 Uniform School Supplies ,721 10,721 Public Sch. Support , ,803 Other Grants 019 District Agency 022 5,797 5,797 Student Managed Activity ,194 43,183 28, ,947 District Managed Activity 300 4,609 5,404 22,928 (12,915) State Grants ,436 69,831 10, ,327 Federal Grants 500 1,229 (1,229) $12,764,196 $7,624,926 $2,898,574 $17,490,548 7

8 Actual Month-End General Fund Cash Balance Exhibit #2 8

9 Investment/Reconciliation Report Fiscal year 2017 Exhibit #3 CASH RECONCILIATION Aug 16 Monthly Rate Interest cytd NFS $ 0.04% $ 1, $ 4, $ $ $ 23, $ $ $ $ Star Oho 1,771, Star Plus 12,010, % 3, Dollar Bank 51, % 6.58 Dollar Bank 681, Dollar Bank 358, Independence Bk Savings 534, % Independence Bk Checking 112, n/a Independence Bk CD 500, % 1, Independence Bk CD 1,500, % 2, Total Balance Per Bank Statement $ 17,519, $ 4, $ 32, $ E/Z Pay Dept. not recorded 3, In Trans. Deposits In Transit H/S Café NFS M/S Café Outstanding Checks (30,715.98) P/S Café Outstanding Payroll checks (2,548.42) Bank Fee 0.00 Adjusted Total Balance Per Bank Statement 17,490, Fund Balances 17,490, Difference $ 9

10 Check Register Informational Item Warrants over $1, to Check Amount Vendor Description Check Amount Vendor Description ,500 U.S. Postmaster Bulk Postage ,500 Paramount Concrete Concrete Repairs ,562 Cerni Motor Sales Bus Parts ,500 Monarch Center for Autism ESY Services ,601 SERS Retirement Benefits ,011 Ohio School Counsel Natural Gas ,738 GPS Fire Equipment Kitchen Fire Repairs ,169 Connect Technology Services ,900 Arslanian Bros. Carpet Cleaning ,283 Connect Technology Services ,965 Custom Bus & Truck Panels Bus Parts ,225 Renaissance Learning Instructional Supplies ,100 Paramount Concrete MS Concrete Replacement ,000 Refpay, LLC Fall/Winter Officials ,349 Ace Copier Service Fee ,486 Coresource Inc. Dental Benefits ,522 CED Inc. Outdoor Lighting Field House ,769 Apple Computer Technology Equipment ,680 Berkshire High School RTI Training ,805 United Cerebral Palsy Assoc. Spec. ed. Evaluation Services ,740 ESC EMIS Data Support ,252 Paramount Concrete Concrete Repairs ,775 Squire, Patton Boggs Legal Services ,266 CES HVAC Field House ,900 Autism Society of Greater ESY Spec. Ed ,000 Sterling Fence and Builders Stadium Fence ,980 Achieve3000, Inc. Instructional Materials ,430 SERS Retirement Benefits ,996 North Coast Ed. Media Center Membership & Inst. Materials ,030 Illuminating Company, The Utilities ,999 CDW Gov. Inc. Technology Supplies ,969 STRS Retirement Benefits ,450 Nowak Tour & Travel Chicago Trip ,146 STRS Retirement Benefits ,500 CMP Communications Public Relations ,275 Quadstar Technology Equipment/Services ,650 Madden Brothers Playground Mulch ,308 Medina Auto Mall Maintenance Truck ,000 Frontline Technologies Group AESOP Services ,192 OSC Insurances Fleet/Property/Liability ,240 Cleveland Electric Electric Work Field House ,192 Rush Truck Centers Bus Replacement ,011 Medicare/Fica Payroll Benefits ,615 Orange City Schools Health Benefits ,023 Johnstone Supply M/S Hot Water Tank ,260 Professional Roofing Service MS Roof Replacement ,041 STRS Retirement Benefits ,889 Payroll Transfer Payroll ,041 STRS Retirement Benefits ,989 Payroll Transfer Payroll ,135 Medicare/Fica Payroll Benefits 10

11 11 Projected General Fund Monthly Cash Flow