INDEPENDENCE LOCAL SCHOOLS Board Meeting

Transcription

1 Exhibit #2 INDEPENDENCE LOCAL SCHOOLS Board Meeting October 2018 Financial Reports 1

2 Independence Local Schools Fiscal Year 2019 Revenue Collection by Fund Exhibit #2 FY 19 % 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 $ 18,089,145 $ 8,071,568 $ 117,228 $ 10,017, % 33.33% 55.38% 66.67% Bond Retirement 002 1,150, , , % 33.33% 58.72% 66.67% Permanent Improvement , , , % 33.33% 59.35% 66.67% Building % 33.33% 0.00% 66.67% Food Service ,500 74,660 32, , % 33.33% 75.56% 66.67% Endowment % 33.33% 0.00% 66.67% Uniform School Supplies 009 4,000 5 (90) 3, % 33.33% 0.00% 66.67% Public Sch. Support ,000 21,102 12,443 38, % 33.33% 64.83% 66.67% Other Grants % 33.33% 0.00% 66.67% District Agency ,000 3,078 3,078 21, % 33.33% 87.69% 66.67% Student Managed Activity ,006 82,914 15, , % 33.33% 66.97% 66.67% District Managed Activity ,750 41,175 11,957 90, % 33.33% 68.75% 66.67% State Grants ,400 66,066 2, , % 33.33% 76.44% 66.67% Federal Grants , , % 33.33% % 66.67% $ 21,191,703 $ 9,152,414 $ 195,244 $ 12,039, % 33.33% 56.81% 66.67% 2

3 General Fund Revenue Collection Exhibit # 2 Month End Fiscal Year 2019 Actual Budget/Estimate Variance Actual Budget/Estimate Variance Real Estate $ $ $ $ 4,841,559 $ 4,841,559 $ TPP (PUPP only) 306, ,623 Foundation 59,779 60,126 (347) 290, ,165 (347) Restricted Grants Home/Roll & TPP Reimb 555, ,957 (293) Other/Misc. 57,448 60,000 (2,552) 2,076,903 2,038,303 38,600 Total Revenue: $ 117,227 $ 120,126 $ (2,899) $ 8,071,567 $ 8,033,607 $ 37,960 Other/Misc. Revenue: Received the ESC one-time reimbursement for tax exempt status refund - $202k & TIF revenue received was above estimates due to collection of prior assessed taxes of newly added TIF parcels. 3

4 Independence Local Schools Fiscal Year 2019 Expenditure Projection by Fund Exhibit #2 FY 19 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 $ 18,450,964 $ 5,741,547 $ 1,419,390 $ 2,122,763 $ 10,586, % 33.33% 68.88% 66.67% Bond Retirement 002 1,066,191 6, ,943 $ 774, % 33.33% 99.44% 66.67% Permanent Improvement , ,670 74,486 1,081,641 $ (806,311) 62.94% 33.33% 37.06% 66.67% Building 004 $ 0.00% 33.33% 0.00% 66.67% Food Service ,925 84,783 37,277 30,532 $ 189, % 33.33% 72.20% 66.67% Endowment $ % 33.33% % 66.67% Uniform School Supplies 009 1,000 1,529 $ (529) 0.00% 33.33% % 66.67% Public Sch. Support ,208 13,021 5,086 28,111 $ 15, % 33.33% 76.83% 66.67% Other Grants 019 $ 0.00% 33.33% 0.00% 66.67% District Agency ,950 $ 11, % 33.33% % 66.67% Student Managed Activity , ,919 35,755 32,260 $ 123, % 33.33% 57.14% 66.67% District Managed Activity ,250 43,988 7,524 9,836 $ 68, % 33.33% 64.02% 66.67% State Grants ,006 76,661 15, ,868 $ 84, % 33.33% 72.33% 66.67% Federal Grants , ,689 $ 103, % 33.33% 99.19% 66.67% $ 21,421,547 $ 6,551,531 $ 1,595,855 $ 3,719,171 $ 11,150, % 33.33% 69.42% 66.67% 4

5 General Fund Expenditure Exhibit #2 Month End FYTD 2019 Actual Budget/Estimate Variance Actual Budget/Estimate Variance Personnel/Salaries $ 749,229 $ 737,000 $ 12,229 $ 3,277,696 $ 3,262,515 $ 15,181 Benefits 298, ,246 (854) 1,212,757 1,217,083 (4,326) Purchased Services 141, ,003 (53,298) 616, ,216 (53,298) Supplies 34,667 30,025 4, , ,264 4,642 Equipment 95,455 99,385 (3,930) 210, ,609 (3,931) Debt Service 95,750 95,750 95,750 95,750 Other/Misc. 4,192 6,878 (2,686) 100, ,696 (6,854) Transfers $ 1,419,390 $ 1,463,287 $ (43,897) $ 5,741,547 $ 5,790,133 $ (48,586) 5

6 General Fund Monthly Expense Comparison Fiscal Year 2019 vs. Fiscal Year 2018 Exhibit #2 July 18 August 18 September 18 October 18 Total FYTD 19 Fiscal Year 2019 Expenses Expenses Expenses Expenses Expenses 3 Pay Month Salaries $ 679,518 $ 1,067,953 $ 780,996 $ 749,229 $ 3,277,696 Benefits $ 275,132 $ 357,705 $ 281,528 $ 298,392 $ 1,212,757 Purchase Services $ 129,232 $ 144,173 $ 201,808 $ 141,705 $ 616,918 Supplies $ 2,733 $ 100,531 $ 88,975 $ 34,667 $ 226,906 Capital Outlay $ $ 109,609 $ 5,614 $ 95,455 $ 210,678 Other Expenses/Transfers 7,974 80,961 7,715 99,942 $ 196,592 Total Expenses $ 1,094,589 $ 1,860,932 $ 1,366,636 $ 1,419,390 $ 5,741,547 July 17 August 17 September 17 October 17 Total FYTD 18 Fiscal Year 2018 Expenses Expenses Expenses Expenses Expenses 3 Pay Month Salaries 668, ,426 1,086, ,832 3,117,079 Benefits 254, , , ,800 1,137,033 Purchase Services 68, , , ,881 1,240,514 Supplies 19,093 26,246 77, , ,424 Capital Outlay (1,000) 7, ,695 32, ,574 Other Expenses/Transfers 7,571 81,440 2,228 97, ,069 Total Expenses $ 1,016,351 $ 1,220,947 $ 1,836,905 $ 2,078,490 $ 6,152,693 Over/(Under) Previous Yr. $ 78,238 $ 639,985 $ (470,269) $ (659,100) $ (411,146) Over/Under Salaries Benefits Purchase Services Supplies Capital Outlay Other Expenses Previous Yr. 160,617 75,724 (623,596) (79,518) 48,104 7,523 $ (411,146) 6

7 Independence Local Schools Fiscal Year 2019 Cash Flow by Fund Exhibit #2 7/1/2018 Fiscal Fiscal 10/31/2018 Cash Yr. to Date Yr. to Date Cash Fund Description Fund Balance Revenue Expenditures Balance General 001 $10,627,489 $ 8,071,568 $ 5,741,547 $12,957,510 Bond Retirement 002 3,562, ,000 6,014 4,031,685 Permanent Improvement , , , ,240 Building 004 Food Service ,792 74,660 84,783 21,669 Endowment 008 6,486 6,486 Uniform School Supplies , ,037 Public Sch. Support ,557 21,102 13,021 54,639 Other Grants 019 District Agency ,149 3,078 13,227 Student Managed Activity ,008 82, , ,003 District Managed Activity ,115 41,175 43,988 45,301 State Grants ,894 66,066 76,661 69,299 Federal Grants (927) $15,057,285 $9,152,414 $6,551,531 $17,658,168 7

8 Actual Month-End General Fund Cash Balance Exhibit #2 Large variances in cash flow are due to the Real Estate collection cycles in the spring and fall. (Feb. & March August & Sept.) 8

9 Investment/Reconciliation Report Fiscal year 2018 CASH RECONCILIATION Monthly October 31, 2018 Balances Interest cytd NFS Star Ohio 10,451, $ 21, $ 153, $ Star Plus 1,074, , , $ USBank 5,062, , , $ Dollar Bank 622, $ Dollar Bank 33, $ Independence Bk Savings 443, Independence Bk Checking 135, Total Balance Per Bank Statement $ 17,824, $ 35, $ 237, $ E/Z Pay Dept. not recorded 1, $ PS Café Deposit not recorded 0.00 $ MS Café NFS $ HS CAFÉ Outstanding Checks (135,341.64) $ café Outstanding Payroll checks (33,924.46) $ Bank coding Error 0.30 $ In Transit Total In Transit Adjusted Total Balance Per Bank Statement 17,658, Fund Balances 17,658, Difference $ 9

10 Check Register Informational Item Warrants over $1, to Check Amount Vendor Description Check Amount Vendor Description ,795 Ohio School Council Membership ,874 Renaissance Learning Instructional materials ,850 OSBA Conference registration ,095 Riddell/American Sports Corp. Football reconditioning ,690 Strategic Solutions, LLC Workflow software ,979 Royal Business Equipment Co. Computer equipment ,995 AAA State of Play Playground border ,215 Smart Solution Technologies Smartboards ,521 ABA Outreach Services, LLC Special Ed. Services ,697 Illuminating Company, The Utility ,900 Agile Sports Technologies, Inc Football supplies ,845 Dreiling, Thomas Reimbursements ,297 BSN Sports Football supplies ,213 Turnitin, LLC Instructional materials ,247 Buckeye International, Inc. Custodial supplies ,822 Wilson Training Special Ed. Training ,865 Chagrin Valley Conference Athletics ,430 Wideopenwest Finance LLC Dark fiber to buildings ,100 Cleveland Metroparks Golf Fees ,057 Taylor Consulting Group, LLC Roof consulting services ,000 M&M Express Solutions Golf supplies ,350 Professional Roofing Service M/S roof repairs ,737 Rogers Athletics Football supplies ,636 Apple Computer imac ,625 Touzinsky's Elite Volleyball Volleyball camp ,270 DIGICOM Printing ,012 Ace Copier contract ,220 KidsLink Neurobehavioral Ctr. Special Ed. Services ,000 McGhee, Ann Start up cash ,831 Brilliant Electric Sign Co.LTD Electronic sign ,892 Buckeye International, Inc. Custodial supplies ,052 Edmentum Holdings, Inc. Instructional materials ,500 CMP Communications Public relations ,749 Rice's Landscapes Redefined Grounds/Maintenance ,050 Connect Internet service ,305 Varsity Spirit Fashions Cheerleading supplies ,086 CES HVAC repairs ,187 Veritiv Operating Company Paper ,095 Education Management Systems Cafeteria software ,039 Zaner Bloser Instructional materials ,630 Employers' HealthSource Bus driver physicals ,786 Coresource Inc. Dental ,095 Mount Vernon Class 2023 registration ,827 Payroll 1 of 3 pays ,608 GPS fire Equipment Alarm inspections ,443 SERS Retirement ,448 Greater Cleveland Tire Transportation supplies ,553 STRS Retirement ,173 Northeast Sewer District Utilities ,368 STRS Retirement ,325 Pisanick Partners, LLC Menus ,521 Medicare/Fica Payroll benefits ,140 Sherwin Williams Maintenance supplies ,657 Orange City Schools Medical benefits ,550 Barons Bus D.C. trip transportation ,779 Payroll 2 of 3 pays ,125 Hard Rock Cafe Washington DC D.C. dinner ,311 SERS Retirement ,400 Achieve3000, Inc. Instructional material ,553 STRS Retirement ,190 BrainPop Instructional material ,506 STRS Retirement ,339 ESC Personnel services ,814 Medicare/Fica Payroll benefits ,693 Gordon Foods Cafeterias ,811 Payroll 3 of 3 pays ,295 Houghton Mifflin Instructional material ,322 SERS Retirement ,600 Learning A Z Instructional material ,493 SERS Retirement ,596 Mohawk M/S equipment ,553 STRS Retirement ,693 OSC Natural Gas Utilities ,864 STRS Retirement ,065 Public Finance Resources, Inc. Forecast software ,961 Medicare/Fica Payroll benefits 10

11 11 Projected General Fund Monthly Cash Flow

12 Monthly Cafeteria Report Fiscal Year 2018 not including transfers FY FY 2019 July August September October Total Receipts High Sch. 75 5,400 5,264 7,567 18,307 Middle Sch. 7,006 7,217 9,074 23,298 Primary Sch ,347 6,421 10,101 25,973 Other 1, ,822 7,082 Total Receipts ,867 19,048 32,564 74,660 Expenditures 3 pay month Total High Sch ,498 4,309 12,859 23,784 Middle Sch. (3,156) 5,517 5,527 12,953 20,841 Primary Sch. 3,519 7,766 5,455 11,265 28,004 Other 11, ,154 Total Expenditures ,735 15,290 37,277 84,783 FY 2019 Balance to Date: 31,792 21,669 FY FY 2018 July August September October Total Receipts High Sch. (77) 5,430 5,294 7,836 18,483 Middle Sch. 7,092 8,980 10,093 26,165 Primary Sch. 7,062 6,774 7,246 21,081 Other 879 5,320 6,198 Total Receipts (77) 19,584 21,926 30,494 71,928 Expenditures 3 pay month Total High Sch. 2,544 2,544 6,443 14,151 25,682 Middle Sch. 3,033 3,033 8,494 13,117 27,677 Primary Sch. 4,550 3,091 6,580 11,765 25,987 other 5, , ,819 Total Expenditures 15,552 9,168 29,361 39,084 93,165 FY 2018 Balance to Date: 1,420 (19,817) Expenditure Categories: FY 2019 FY 2018 Inc./Dec. Expenditure July July over Categories: Oct. 31 Oct. 31 Previous yr. Salaries 41,606 43,820 (2,214) Benefits 12,200 13,512 (1,312) Purch. Serv. 7,920 9,257 (1,337) Supplies 23,057 26,576 (3,519) Equipment 0 84,783 93,165 (8,382) Revenue Categories: FY 2018 FY 2017 Inc./Dec. Revenue July July over Categories: Oct. 31 Oct. 31 Previous yr. Sales Type A 67,578 65,729 1,849 Misc., Vending 2, ,213 State Subsidy 0 Federal Subsidy 4,956 5,286 (330) Transfer 74,660 71,928 2,732 12

13 Cafeteria Meals Served Comparison FY September October Total Meals Served/# Serving Days High Sch. 1,336 1,174 2,510 Middle Sch. 2,322 2,057 4,379 Primary Sch. 2,477 2,691 5,168 Total Meals Served 6,135 5,922 12,057 FY FY 2018 September October Total Meals Served/# Serving Days High Sch. 1,380 1,143 2,523 Middle Sch. 2,320 1,908 4,228 Primary Sch. 2,516 2,234 4,750 Total Meals Served 6,216 5,285 11,501 Over/Under Previous FY: