INDEPENDENCE LOCAL SCHOOLS Board Meeting

Transcription

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

2 Independence Local Schools Fiscal Year 2018 Revenue Collection by Fund Exhibit #2 FY 18 % 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 $ 16,807,093 $ 17,849,344 $ 788,030 $ (1,042,251) % 91.67% 6.20% 8.33% Bond Retirement 002 1,205,500 1,278,545 74,782 (73,045) % 91.67% 6.06% 8.33% Permanent Improvement , ,978 25,889 (6,303) % 91.67% 0.90% 8.33% Building % 91.67% 0.00% 8.33% Food Service , ,847 29,146 57, % 91.67% 18.90% 8.33% Endowment % 91.67% 0.00% 8.33% Uniform School Supplies ,437 (1,537) 0.00% 91.67% 0.00% 8.33% Public Sch. Support ,000 73,379 21,563 (13,379) % 91.67% 22.30% 8.33% Other Grants % 91.67% 0.00% 8.33% District Agency ,000 11,024 (24) % 91.67% 0.22% 8.33% Student Managed Activity , ,830 26,136 (41,930) % 91.67% 18.56% 8.33% District Managed Activity ,000 74, , % 91.67% 21.89% 8.33% State Grants , , (18,465) % 91.67% 7.78% 8.33% Federal Grants ,782 97,625 38, % 91.67% 0.16% 8.33% $ 19,746,158 $ 20,864,857 $ 1,004,649 $ (1,118,698) % 91.67% 5.67% 8.33% 2

3 General Fund Revenue Collection Exhibit # 2 Month End Fiscal Year 2018 Actual Budget/Estimate Variance Actual Budget/Estimate Variance Real Estate $ $ $ $ 12,353,726 $ 11,775,700 $ 578,026 TPP (PUPP only) 773, ,012 18,795 Foundation 59,891 62,460 (2,569) 835, ,753 14,715 Restricted Grants Home/Roll & TPP Reimb 608, ,380 44,944 1,228,126 1,161,565 66,561 Other/Misc. 119,816 29,034 90,782 2,658,218 2,111, ,174 Total Revenue: $ 788,031 $ 654,874 $ 133,157 $ 17,849,345 $ 16,624,074 $ 1,225,271 3 Class I real estate collection are up due to a higher than normal collection split - caused by residents paying 2018 real estate taxes in advance, after tax law changes. Class I Collections Collection Year Rate 1st Half Split Actual % 54.1% % 54.1% % 54.2% % 54.4% % 54.0% Estimated % 58.9%

4 Independence Local Schools Fiscal Year 2018 Expenditure Projection by Fund Exhibit #2 Fy 18 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 $ 17,483,219 $ 15,861,545 $ 1,154,414 $ 1,108,376 $ 513, % 91.67% 9.28% 8.33% Bond Retirement 002 1,059,040 1,055, ,245 $ 3, % 91.67% 0.38% 8.33% Permanent Improvement , , ,300 $ (288,806) 79.50% 91.67% 20.50% 8.33% Building 004 $ 0.00% 91.67% 0.00% 8.33% Food Service , ,157 26,464 19,550 $ 2, % 91.67% 7.28% 8.33% Endowment 008 1, $ % 91.67% 50.00% 8.33% Uniform School Supplies 009 1,560 1,560 $ % 91.67% 0.00% 8.33% Public Sch. Support ,500 46,968 7,623 11,654 $ % 91.67% 21.06% 8.33% Other Grants 019 $ 0.00% 91.67% 0.00% 8.33% District Agency ,950 10, $ 1, % 91.67% 11.85% 8.33% Student Managed Activity , ,238 31,311 38,116 $ 3, % 91.67% 12.51% 8.33% District Managed Activity , ,471 (3,077) 1,475 $ 10, % 91.67% 7.95% 8.33% State Grants , ,622 (3,762) 27,928 $ 60, % 91.67% 37.00% 8.33% Federal Grants ,782 97,782 40,398 $ (0) % 91.67% 0.00% 8.33% $ 20,570,698 $ 18,595,313 $ 1,392,678 $ 1,667,399 $ 307, % 91.67% 9.60% 8.33% 4

5 General Fund Expenditure Exhibit #2 Month End FYTD 2018 Actual Budget/Estimate Variance Actual Budget/Estimate Variance Personnel/Salaries $ 686,173 $ 686,173 $ $ 8,391,952 $ 8,391,952 $ Benefits 257, ,852 (15,450) 3,120,394 3,135,844 (15,450) Purchased Services 153, ,906 (61,756) 3,153,179 3,214,935 (61,756) Supplies 32,812 24,658 8, , ,859 8,154 Equipment 10,179 5,322 4, , ,000 3,857 Debt Service 10,750 10, , ,456 Other/Misc. 3,947 12,360 (8,413) 272, ,028 (8,329) $ 1,154,413 $ 1,227,021 $ (72,608) $ 15,861,550 $ 15,935,074 $ (73,524) 5

6 General Fund Monthly Expense Comparison Fiscal Year 2018 vs. Fiscal Year 2017 Exhibit #2 July 16 August 16 September 16 October 16 November 16 December 16 January 17 February 17 March 17 April 17 May 17 Total FYTD 17 Fiscal Year 2017 Expenses Expenses Expenses Expenses Expenses Expenses Expenses Expenses Expenses Expenses Expenses Expenses 3 Pay Month 3 Pay Month Salaries $ 623,172 $ 641,561 $ 1,012,841 $ 698,356 $ 733,020 $ 724,156 $ 673,182 $ 688,571 $ 1,025,141 $ 664,980 $ 686,093 $ 8,171,073 Benefits $ 230,356 $ 228,314 $ 314,591 $ 263,847 $ 251,723 $ 279,467 $ 255,195 $ 247,862 $ 290,819 $ 253,006 $ 250,106 $ 2,865,286 Purchase Services $ 132,921 $ 185,556 $ 49,747 $ 731,347 $ 179,470 $ 205,282 $ 124,474 $ 649,063 $ 246,670 $ 116,006 $ 284,185 $ 2,904,721 Supplies $ 24,198 $ 34,787 $ 123,204 $ 53,818 $ 51,828 $ 40,992 $ 60,096 $ 32,773 $ 28,923 $ 24,725 $ 57,638 $ 532,982 Capital Outlay $ $ 51,222 $ 99,260 $ 414 $ 6,200 $ 11,245 $ 40 $ 9,061 $ 12,784 $ 1,832 $ 3,120 $ 195,178 Other Expenses/Transfers ,447 6,470 18,709 93,409 3,147 6,445 1,554 96,737 13,087 7,474 $ 338,477 Total Expenses $ 1,011,645 $ 1,231,887 $ 1,606,113 $ 1,766,491 $ 1,315,650 $ 1,264,289 $ 1,119,432 $ 1,628,884 $ 1,701,074 $ 1,073,636 $ 1,288,616 $ 15,007,717 July 17 August 17 September 17 October 17 November 17 December 17 January 18 February 18 March 18 April 18 May 18 Total FYTD 18 Fiscal Year 2018 Expenses Expenses Expenses Expenses Expenses Expenses Expenses Expenses Expenses Expenses Expenses Expenses 3 Pay Month 3 Pay Month Salaries 668, ,426 1,086, , , , , ,682 1,064, , ,173 8,391,952 Benefits 254, , , , , , , , , , ,402 3,120,394 Purchase Services 68, , , , , , , , , , ,150 3,153,179 Supplies 19,093 26,246 77, ,305 69,775 43,732 25,021 40,295 64,000 34,954 32, ,013 Capital Outlay (1,000) 7, ,695 32,842 (15,075) 35,630 5,892 (6,474) (384) 6,515 10, ,857 Other Expenses/Transfers 7,571 81,440 2,228 97,830 18,415 9,023 7,912 3, ,676 5,630 14, ,155 Total Expenses $ 1,016,351 $ 1,220,947 $ 1,836,905 $ 2,078,490 $ 1,280,558 $ 1,393,938 $ 1,675,238 $ 1,110,693 $ 1,937,578 $ 1,156,439 $ 1,154,413 $ 15,861,550 Over/(Under) Previous Yr. $ 4,706 $ (10,940) $ 230,792 $ 311,999 $ (35,092) $ 129,649 $ 555,806 $ (518,191) $ 236,504 $ 82,803 $ (134,203) $ 853,833 Over/Under Salaries Benefits Purchase Services Supplies Capital Outlay Other Expenses Previous Yr. 220, , ,458 84,031 3,679 41,678 $ 853,833 6

7 Independence Local Schools Fiscal Year 2018 Cash Flow by Fund Exhibit #2 7/1/2017 Fiscal Fiscal 5/31/2018 Cash Yr. to Date Yr. to Date Cash Fund Description Fund Balance Revenue Expenditures Balance General 001 $10,064,585 $ 17,849,344 $ 15,861,545 $12,052,383 Bond Retirement 002 3,339,204 1,278,545 1,055,049 3,562,700 Permanent Improvement , , , ,645 Building 004 Food Service 006 1, , ,157 (33,889) Endowment 008 6, ,486 Uniform School Supplies ,850 2,437 1,560 14,727 Public Sch. Support ,986 73,379 46,968 50,398 Other Grants 019 District Agency 022 9,659 11,024 10,534 10,149 Student Managed Activity , , , ,744 District Managed Activity ,726 74, ,471 (46,762) State Grants , , ,243 Federal Grants ,625 97,782 (157) $14,085,123 $20,864,857 $18,595,313 $16,354,667 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 May 31, 2018 Interest cytd NFS Star Ohio 9,320, $ 15, $ 62, $ Star Plus 1,065, , , $ USBank 5,005, , Dollar Bank 402, $ Dollar Bank 21, Independence Bk Savings 493, Independence Bk Checking 143, Total Balance Per Bank Statement $ 16,453, $ 17, $ 76, $ E/Z Pay Dept. not recorded In Trans. Deposit not recorded 0.00 Coffee NFS $ P/S Café Outstanding Checks (73,982.10) M/S Café Outstanding Payroll checks (21,952.89) H/S Café Bank coding Error 0.00 (1,620.00) ACH Transposition 0.00 (260.00) In Transit (3,249.40) (900.00) Adjusted Total Balance (3,249.40) Per Bank Statement 16,354, Fund Balances 16,354, Difference $ 9

10 Check Register Informational Item Warrants over $1, to Check Amount Vendor Description Check Amount Vendor Description ,600 R.M. Kole & Associates Corp. Surveying H.S ,816 ESC Psychologist, Mentor, Aides ,697 Synek, David H.S. musical Services ,000 U S Realty Consultants Appraisal services ,012 Ace Copier service fee ,016 Apple Computer Imacs ,050 Public Finance Resources, Inc. Seminar ,317 OSC Natural gas ,072 Dominion East Ohio Utilities ,403 STRS Retirement benefits ,195 BrainPop Instructional material ,403 STRS Retirement benefits ,264 Digicom Printing ,428 Medicare/Fica Payroll benefits ,301 Cedar Point M/S Tickets ,500 ESC Tech. Integration ,384 Cuyahoga Community College CCP books ,776 Medicare/Fica Payroll benefits ,555 Redshift Technology Technology ,864 Brindza, McIntyre and Seed Legal services ,691 Veritiv Operating Company Paper ,748 Infinite Cohesion, Ltd Web fee ,745 Royal Business Equipment Co. Computers ,088 Gordon Foods Cafeteria supplies ,779 Cintas Corp. Area rugs ,144 United Cerebral Palsy Assoc. Special ed services ,853 Renaissance Learning Accelerated Reader ,786 Coresource Dental benefits ,854 CES HVAC repairs ,590 SERS Retirement benefits ,000 ESC P.D. Technology ,707 Windows on the River Prom ,202 Redshift Technology Technology ,880 SERS Retirement benefits ,224 CES HVAC repairs ,880 SERS Retirement benefits ,272 Schaeffer Fleet oil & Lube ,920 Illuminating Company, The Utilities ,275 Northeast Ohio Sewer Utilities ,039 PSI Associates Nurse, medical personnel ,279 Rush Trucking Center Fleet parts ,333 STRS Retirement benefits ,500 CMP Communications Public relations ,653 STRS Retirement benefits ,539 Simple Solutions Aux. Services ,995 Huntington Bank Bond interest ,750 Nowak Tour & Travel Chicago trip ,379 Orange City Schools Medical benefits ,180 Squires, Patton & Boggs Legal services ,082 Payroll Transfer Payroll ,230 ESC P.D. services ,868 Payroll Transfer Payroll ,474 Commtrol Phone line audit 10

11 11 Projected General Fund Monthly Cash Flow

12 Monthly Cafeteria Report Fiscal Year 2018 FY FY 2017 July August September October November December January February March April May Total Receipts High Sch. 5, ,559 7,718 5,004 6,441 7,420 7,273 4,371 4,878 54,862 Middle Sch. 6,321 6,289 7,466 8,079 4,461 6,918 8,093 8,327 5,771 7,182 68,908 Primary Sch ,872 6,319 8,924 7,481 5,159 7,955 7,833 8,951 5,227 7,368 72,264 Other 6,289 5,978 4,694 4,212 2,842 5,922 5,082 4,723 3,545 43,286 Total Receipts ,226 19,062 28,928 27,972 18,836 24,156 29,268 29,633 20,091 22, ,320 Expenditures 3 pay month 3 pay month Total High Sch. 2,416 2,416 5,963 12,254 4,200 14,029 10,586 5,262 15,252 5,016 9,801 87,195 Middle Sch. 3,189 3,189 7,116 12,384 5,109 8,158 7,489 4,593 15,856 4,851 9,919 81,853 Primary Sch. 2,867 2,704 6,102 11,813 4,525 10,765 7,379 4,668 14,155 5,003 9,003 78,985 Other 7, , ,463 1, ,624 19,105 Total Expenditures 15,852 8,809 23,719 36,965 15,297 34,734 25,454 15,411 45,362 15,186 30, ,137 FY 2017 Balance to Date: 4,001 (23,816) FY FY 2018 July August September October November December January February March April May Total Receipts High Sch. (77) 5,430 5,294 7,836 5,410 3,571 6,040 6,231 6,225 4,109 4,546 54,614 Middle Sch. 7,092 8,980 10,093 8,180 6,642 7,016 8,792 8,108 7,386 8,419 80,710 Primary Sch. 7,062 6,774 7,246 6,465 6,156 6,316 8,712 7,275 7,519 8,455 71,980 Other 879 5,320 5,277 4,414 4,061 3, ,784 7,726 37,543 Total Receipts (77) 19,584 21,926 30,494 25,332 20,783 23,434 26,927 22,499 24,798 29, ,847 Expenditures 3 pay month 3 pay month Total High Sch. 2,544 2,544 6,443 14,151 4,298 9,337 12,100 5,286 15,932 8,100 9,280 90,015 Middle Sch. 3,033 3,033 8,494 13,117 6,267 8,944 9,839 5,210 15,452 8,917 8,795 91,101 Primary Sch. 4,550 3,091 6,580 11,765 5,147 6,032 7,632 4,268 13,329 7,313 7,749 77,456 other 5, , ,188 2,170 1,364 1, ,585 Total Expenditures 15,552 9,168 29,361 39,084 16,369 25,501 31,741 16,128 46,459 24,329 26, ,157 FY 2018 Balance to Date: 1,420 (33,889) Expenditure Categories: FY 2018 FY 2017 Inc./Dec. Expenditure July July over Categories: May 28 May 28 Previous yr. Salaries 134, ,289 7,113 Benefits 31,121 33,436 (2,316) Purch. Serv. 14,424 11,751 2,672 Supplies 100,210 93,278 6,932 Equipment 1,382 (1,382) 280, ,137 13,019 Revenue Categories: FY 2018 FY 2017 Inc./Dec. Revenue July July over Categories: May 28 May 28 Previous yr. Sales Type A 185, ,728 3,155 Misc., Vending 5,397 2,303 3,094 State Subsidy (50) Federal Subsidy 23,868 30,713 (6,846) Transfer 215, ,347 (646) 12

13 Cafeteria Meals Served Comparison FY FY 2017 September October NovemberDecember January February March April May Total Meals Served/# Serving Days High Sch. 1,909 1,527 1, ,068 1,296 1, ,113 11,113 Middle Sch. 1,944 1,491 1, ,455 1,475 1,544 1,051 1,723 12,891 Primary Sch. 3,027 2,538 2,199 1,492 2,355 2,570 2,574 1,868 2,809 21,432 Total Meals Served 6,880 5,556 4,955 3,000 4,878 5,341 5,458 3,723 5,645 45,436 FY FY 2018 September October NovemberDecember January February March April May Total Meals Served/# Serving Days High Sch. 1,380 1, ,033 1, ,045 8,930 Middle Sch. 2,320 1,908 1,548 1,312 1,371 1,751 1,648 1,430 2,031 15,319 Primary Sch. 2,516 2,234 1,886 1,820 1,608 2,206 2,216 1,993 2,665 19,144 Total Meals Served 6,216 5,285 4,396 3,842 3,783 4,990 4,956 4,184 5,741 43,393 Over/Under Previous FY: (2,043) 13