School Board Financial Report. Month Ended November 30, 2016

Transcription

1 (ISD 347) District Office Mrs. Pam Harrington Director of Business & Finance School Board Financial Report Month Ended November 30, 2016 December 19, 2016 General Comments Please contact Pam Harrington ( or or Kathryn Haase ( or with any questions. YTD Revenues & Expenditures Summary (General Fund) Local revenues are $165,323 higher than FY 16 mainly to the receipt of a large donation from the Elaine Adams Fund for SH Media Center workspace updates and a donation from Jennie-O for MS math technology. State revenues are $1,144,936 higher than FY 16 due to the timing of general education and special education aid received. Federal revenues are $147,532 higher than FY 16 due to federal claims processed more timely than last year. Other revenues are $31,040 lower than FY 16 due to the non-recurring sale of ipads in FY16 partially offset by insurance claim money received in FY 17 to cover the costs related to flooding in the Jefferson basement. Salaries are down $243,789 primarily due to budget reductions. The following positions were reduced for the year: communications coordinator, human resources/payroll position, 2 FTE elementary teachers, morning supervision, 2.3 FTE EL teachers,.33 FTE SH youth service teacher, 1.5 FTE secondary social studies teachers, 1 FTE SH science teacher, 1 FTE library/media teacher, 1 FTE library para, 1 FTE LPN and 1 FTE EL/GT coordinator. Benefits are down $381,698 from the prior year due to the District changing how VEBA contributions are made. In the past, a large amount of VEBA contributions were made in July and November/December. In FY 17, most employee groups will receive monthly VEBA contributions instead of two lump sum contributions. The teachers will receive their contributions in two lump sums because their contract has not been settled at this time. Supplies and materials are $116,179 higher than in FY 16 mainly due to UFARS coding changes where items that used to be coded to capital expenditures will be coded to supplies, in addition to supply purchases for staff development. Capital expenditures are $674,000 lower than in FY 16 due to the timing of building projects. Normally, sites complete the majority of building projects when school is not in session. In FY 17, much of the money used for regular building projects is being used to pay for some of the major building projects due to projected costs being more than the referendum amount. Those overages will not be charged to this

2 area until later in the year. Also, UFARS coding changes have items that used to be coded to capital expenditures now coded to supplies and materials. Please see specific revenue and expenditure comments included in the attached reports. Investment Summary The District has a certificate of deposit (CD) with a balance of $251, The interest rate on the CD is 0.40%, with a maturity date of 6/13/17. The District also has a CD for the Elaine Adams Fund donation for the Senior High Media Center. The interest rate on the CD is 0.40%, with a maturity date of 4/28/17. Cash and Banking Summary The accounts are reconciled and balanced each month. The number of days of cash on hand is greater than the target of 20 days of expenditures. The Bremer Sweep Account interest rate was 0.05% at the end of October and November. Interest rates for shortterm investments are still very low at this time, the District will continue to use the sweep account until interest rates rise and investments have higher yields. Finance Dashboard November 30, 2016 Actual Target * Days of Cash on Hand (Fund 01, 02, 04) 89 days 20 days * Days after month end for financial reporting 19 days 21 days * FY 16 Actual General Fund fund balance 15.29% 6% * FY 17 Budgeted General Fund fund balance 10.91% 6% $153, cash per day Enrollment Report November enrollment is 4,261 students. Enrollment is up 151 students from 4,110 students at the end of Enrollment is 23 students higher than the end of last November. District website: Finance section of District website: go to the above, click on Departments, Finance, and Monthly Reports th St. SW Serving the Communities of Blomkest, Kandiyohi, Pennock & Willmar Willmar, MN (P) (F)

3 r_br_reconwrk Willmar Public Schools Page 1 of 1 Reconciliation Worksheet 11/30/ /19/ :46:55 textaudit No Statement Date Co Bank Code Bank Name/Description /30/ st BREMER BANK, N.A. finance checking account Statement Amount 16,411, Worksheet has been Finalized Deposits in Transit 0.00 Outstanding Payments Checks 556, Wires 561, SHR - Payments 6, SHR - Third Party 0.00 Cash 0.00 ACH 0.00 Adjustment Amount 12, Amount Per Bank 15,299, GL Account Balance 15,299, Co 0347 L B Fd Org Pro Crs Fin O/S Ty 000 F Difference 0.00 Adjustments Manual 11/30/2106 Manual Deposit , , , , , RevTrak Deposit Outstanding RevTrak Deposit Outstanding RevTrak Deposit Outstanding RevTrak Deposit Outstanding Fd 6 USBank reimb Amazon purch Bank Interest Issue

4 Bremer Checking & Sweep Account Summary November 30, 2016 Beginning Investments/ Ending Funds # Balance Receipts Disbursements Transfers Balance General Fund 01 13,132, ,423, ,169, (16,093.76) 11,370, Food Service Fund , , , , , Community Service Fund 04 1,135, , , (5,715.09) 1,081, Building Construction Fund Debt Service Fund 07 1,681, , ,985, Scholarship Fund , Agency Fund 09 (28,021.78) - 6, (35,017.42) Internal Service Fund (Delta Dental) 20 83, , , , , Totals $16,816, $3,235, $4,751, $0.00 $15,299, Bremer Checking & Sweep Account November Summary

5 Bremer Checking & Sweep Account Detail November 30, 2016 General Fund Food Service Community Ed Construction Debt Service Scholarship Agency Internal Service Total Fund 01 Fund 02 Fund 04 Fund 06 Fund 07 Fund 08 Fund 09 Fund 20 All Funds Ending Cash Balance at 10/31/16 13,132, , ,135, ,681, (28,021.78) 83, ,816, Revenues November Revenue 2,423, , , , , ,234, November Interest Received Total Revenue 2,423, , , , , ,235, Expenditures Accounts Payable 860, , , ,101, November 15 Payroll 1,542, , , , ,705, November 30 Payroll 1,765, , , , ,925, Bond Payments Flex Employee Reimbursements October Delta Dental Payment Paid in November , , November Delta Dental Payment Paid in November , , ACH & Bank Charges, Misc Total Expenditures 4,169, , , , , ,751, Transfers & Investments Transfers Between Funds (250.76) 5, (5,715.09) Transfer Emp Dental Withholding To Fund 20 (15,843.00) , Total Transfers & Investments (16,093.76) 5, (5,715.09) , Ending Cash Balance at 11/30/16 11,370, , ,081, ,985, , (35,017.42) 82, ,299, Bremer Checking & Sweep Account November Detail

6 Cash Flow Projection Beginning Receipts Disbursements Ending Balance Revenue Expenditures Investments Balance FY July 2015 (Actual) 9,558,459 1,876,182 4,050,491-7,384,150 August 2015 (Actual) 7,384,150 7,659,228 3,681,491-11,361,887 September 2015 (Actual) 11,361,887 5,699,543 4,094,539-12,966,891 October 2015 (Actual) 12,966,891 3,924,315 5,296,440-11,594,766 November 2015 (Actual) 11,594,766 2,510,607 4,328,856-9,776,517 December 2015 (Actual) 9,776,517 4,867,522 5,044,013-9,600,027 January 2016 (Actual) 9,600,027 4,296,213 4,234,275-9,661,964 February 2016 (Actual) 9,661,964 5,107,804 4,584,899-10,184,870 March 2016 (Actual) 10,184,870 5,293,265 4,421,780-11,056,354 April 2016 (Actual) 11,056,354 5,357,900 4,519,079-11,895,175 May 2016 (Actual) 11,895,175 7,712,393 4,655,329-14,952,239 June 2016 (Actual) 14,952,239 4,731,255 5,737,833-13,945,660 FY July 2016 (Actual) 13,945,660 1,884,657 6,052,172-9,778,144 August 2016 (Actual) 9,778,144 8,391,327 3,520,234-14,649,238 September 2016 (Actual) 14,649,238 6,149,327 4,704,336-16,094,228 October 2016 (Actual) 16,094,228 5,163,665 4,441,754-16,816,140 November 2016 (Actual) 16,816,140 3,235,536 4,751,795-15,299,880 December 2016 (Estimate) 15,299,880 5,000,000 5,000,000-15,299,880 January 2017 (Estimate) 15,299,880 4,300,000 6,950,000-12,649,880 February 2017 (Estimate) 12,649,880 4,370,000 4,800,000-12,219,880 March 2017 (Estimate) 12,219,880 5,300,000 4,800,000-12,719,880 April 2017 (Estimate) 12,719,880 5,400,000 5,100,000-13,019,880 May 2017 (Estimate) 13,019,880 7,600,000 5,100,000-15,519,880 June 2017 (Estimate) 15,519,880 3,620,000 5,800,000-13,339,880 Cash Flow Projection Summary

7 General Fund Revenues Budget vs Actual YTD November FY 2017 & 2016 Original Budget YTD Actual YTD Actual Audit YTD Actual YTD YTD REVENUES FY FY % FY FY % Difference Local Revenues $ 5,151,671 $ 663, % $ 5,396,204 $ 498, % $ 165,323 State Revenues 42,958,097 12,283, % 42,294,338 11,138, % 1,144,936 Federal Revenues 2,153, , % 2,135,746 4, % 147,532 Other Revenues 15,600 15, % 58,701 46, % (31,040) Total Revenues $ 50,278,556 $ 13,115, % $ 49,884,990 $ 11,688, % $ 1,426,751 November YTD Revenues & Expenditures FY budget Rev Summary

8 General Fund Revenues Budget vs Actual YTD November FY 2017 & 2016 Original Budget YTD Actual YTD Actual Audit YTD Actual YTD YTD Description FY FY % FY FY % Difference Comments LOCAL REVENUES Property Tax Levy 3,671, % $ 3,826, % $ - County Apportionment 55, % 58, % 0.00 Miscellaneous County Tax Rev , % 4, , % 5, Property Tax Shift Recognition Rev % % 0.00 Tuition From MN School Districts 228, % 149, (292.80) -0.20% SPED Reimb. From Another District 18, % % 0.00 Fees From Patrons 342, , % 354, , % 16, Starting in FY17, Middle School deposited yearbook receipts into its registration account instead of the student activity fund. Admission & Student Activity Rev 133, , % 139, , % (1,807.25) Med Assistance From Dept of HS 300, , % 355, , % 13, Timing of receipt of third party billing funds. Interest Earnings 4, , % 6, , % 1, Rent 31, , % 31, , % (501.39) Tournaments 18, , % 26, , % (1,388.24) Gifts & Bequests 231, , % 287, , % 160, Large donation received in FY17 from the Elaine Adams Fund for SH Media Center workspace updates. Jennie-O donation for MS math technology. Received a partial reimbursement in FY16 for ACA fees paid. Reimbursement not received at Miscellaneous Local Revenue 115, , % 156, , % (27,763.10) this time for FY17. Total Local Revenues $ 5,151, $ 663, % $ 5,396, $ 498, % $ 165, STATE REVENUES Endowment Fund Apportionment $ 131, $ 71, % $ 131, $ 63, % $ 7, General Education Aid 36,356, ,184, % 35,466, ,317, % 867, Literacy Incentive Aid 203, % 203, % 0.00 Shared Time Aid 5, % 11, % 0.00 Abatement Aid , % % 1, Disparity Reduction Aid % % 0.00 Homestead Market Value Credit 13, % 13, % 0.00 State Aids From DOE 757, , % 732, , % 2, Long Term Facilities Maint. Aid 387, % % 0.00 Aid payments are disbursed to districts based on MN Statute 127A.45. This directs the state to meter the payments to districts using percentages that vary on a monthly basis and take into consideration other receipts, such as, tax receipts and tax shifts. This can cause payments that vary significantly when comparing revenues on a monthly basis to a prior year. This impacts both general education and special education funding which net to a higher amount than last year. Special Education Aid 5,094, ,010, % 5,705, , % 264, See explanation on General Education Aid line. Other State Agency Revenue 1, % 3, % Other Aid From MDE 5, % 25, % 0.00 Total State Revenues $ 42,958, $ 12,283, % $ 42,294, $ 11,138, % $ 1,144, November YTD Revenues & Expenditures FY budget Rev Detail 12/20/2016

9 General Fund Revenues Budget vs Actual YTD November FY 2017 & 2016 Original Budget YTD Actual YTD Actual Audit YTD Actual YTD YTD Description FY FY % FY FY % Difference Comments FEDERAL REVENUES Federal Aids & Grant $ 1,301, $ 143, % $ 1,288, , % $ 139, Federal claims processed more timely in FY17 than in FY16. Federal Aid Received Pass-Thru 851, , % 847, % 8, Total Federal Revenues $ 2,153, $ 152, % $ 2,135, $ 4, % $ 147, OTHER REVENUES Cost of Material Revenue Activities % % 0.00 Sales Of Material Revenue Activities % $ , % (2,783.50) Sales Of Materials For Resale 15, , % $ 16, , % Sale Of Equipment % $ 42, , % ipads were sold in FY16. The funds were used (40,613.00) to purchase newer generation ipads. Jefferson basement flooding covered by Insurance Recovery , % % 12, insurance. Health & Safety Other Revenue % % 0.00 Total Other Revenues $ 15, $ 15, % $ 58, $ 46, % $ (31,039.54) TOTAL REVENUES $ 50,278, $ 13,115, % $ 49,884, $ 11,688, % $ 1,426, November YTD Revenues & Expenditures FY budget Rev Detail 12/20/2016

10 General Fund Expenditures Budget vs Actual YTD November FY 2017 & 2016 Original Budget YTD Actual YTD Actual Audit YTD Actual YTD YTD EXPENDITURES FY FY % FY FY % Difference Salaries & Wages $ 28,806,310 $ 7,632, % $ 28,131,264 $ 7,875, % $ (243,789) Employee Benefits 9,276,828 3,133, % 9,600,096 3,514, % (381,698) Purchased Services 7,434,029 2,249, % 7,470,891 2,279, % (29,380) Supplies & Materials 1,467, , % 1,428, , % 116,179 Capital Expenditures 2,446, , % 1,969, , % (674,000) Other Expenditures 226, , % 218,393 99, % 6,068 Total Expenditures $ 49,658,664 $ 14,081, % $ 48,818,799 $ 15,288, % $ (1,206,620) November YTD Revenues & Expenditures FY budget Exp Summary

11 General Fund Expenditures Budget vs Actual YTD November FY 2017 & 2016 Original Budget YTD Actual YTD Actual Audit YTD Actual YTD YTD Description FY FY % FY FY % Difference Comments SALARIES AND WAGES Administration $ 1,363, $ 475, % $ 1,327, $ 433, % $ 41, In FY16, a portion of elementary principals were coded to Title I in the Regular Instruction line of this section. Midway through the year, MDE had the District change the coding to the Administration line. In FY 17, shared secretary between Administration and District Support Services shifted completely to Administration. Communications Coordinator and HR position budget reductions. In FY 17, shared secretary between Administration and District Support Services shifted District Support Services 917, , % 1,018, , % (23,792.61) completely to Administration. Regular Instruction 16,186, ,787, % 15,560, ,024, % FY16 had elementary severance payments in August due to retirements. In FY16, a portion of elementary principals were coded to Title I in the Regular Instruction line. Midway through the year, MDE had the District change the coding to the Administration line of this section. Budget reductions include 2 FTE elementary teachers, morning supervision, 2.33 FTE EL teachers,.33 FTE SH Youth Service teacher, 1.5 FTE Secondary Social Studies teachers, 1 FTE SH Science teacher, portion of 1 FTE (237,396.77) Library/Media teacher and 1 FTE EL/GT coordinator. Vocational Instruction 437, , % 487, , % Transition Disabled teacher now coded to Special (16,251.53) Education. Transition Disabled teacher now coded to Special Education. Social Worker providing more services to Special Education Instruction 5,759, ,469, % 5,711, ,459, % 10, special education. Budget reductions of 1 FTE library para, portion of 1 FTE Library/Media teacher and combining library para and offset Instructional Support 1,904, , % 1,775, , % (24,885.75) positions. Pupil Support 788, , % 812, , % Staff reduction of 1 FTE LPN. Social Worker providing more services to special education. Kindergarten (23,172.44) Jumpstart summer school did not occur this year. FY17 had a severance payment early in the year due to a Sites And Buildings 1,447, , % 1,438, , % 30, retirement. Total Salaries And Wages $ 28,806, $ 7,632, % $ 28,131, $ 7,875, % $ (243,788.82) EMPLOYEE BENEFITS Administration $ 526, $ 177, % $ 531, $ 229, % $ (52,363.81) District Support Services 363, , % 398, , % (48,651.06) Regular Instruction 4,608, ,561, % 4,782, ,649, % (88,385.56) Vocational Instruction 142, , % 160, , % (6,784.53) Special Education Instruction 2,213, , % 2,304, , % (85,506.58) Instructional Support 718, , % 685, , % (71,422.08) Pupil Support 251, , % 281, , % (6,984.57) Sites And Buildings 451, , % 454, , % (21,599.66) Total Employee Benefits $ 9,276, $ 3,133, % $ 9,600, $ 3,514, % The District changed how VEBA contributions are made. In the past, a large amount of VEBA contributions were made in July and November/December. In FY17, most employee groups will receive monthly VEBA contributions instead of two lump sum contributions. The teachers will receive their contributions in two lump sums because their contract has $ (381,697.85) not been settled at this time. November YTD Revenues & Expenditures FY budget Exp Detail

12 General Fund Expenditures Budget vs Actual YTD November FY 2017 & 2016 Original Budget YTD Actual YTD Actual Audit YTD Actual YTD YTD Description FY FY % FY FY % Difference Comments PURCHASED SERVICES Administration $ 59, $ 7, % $ 96, $ 34, % FY16 included Superintendent moving expenses, $ (27,265.43) Breakthrough Coach training and Vision 2040 expenses. District Support Services 301, , % 295, , % (2,936.00) Regular Instruction 719, , % 696, , % (19,017.92) Timing of transportation invoices for sporting events. Vocational Instruction 13, , % 14, , % (738.32) Special Education Instruction 950, , % 1,092, , % The District contracted with SW/WC Cooperative Services (101,223.19) for two more special education coaches in FY16 than FY17. Timing of monthly internet payments. Back to School Instructional Support 350, , % 233, , % 32, keynote speaker and strategic planning. Pupil Support 3,049, , % 2,766, , % (42,296.25) Timing of payment for transportation services. Timing of capital/building projects. Completion of Middle Sites And Buildings 1,833, , % 2,118, , % 131, School fire suppression system in early FY17. Other Fixed Costs 156, , % 156, , % Total Purchased Services $ 7,434, $ 2,249, % $ 7,470, $ 2,279, % $ (29,380.16) SUPPLIES AND MATERIALS Administration $ 5, $ 2, % $ 7, $ 2, % $ District Support Services 64, , % 58, , % 11, Due to UFARS coding changes, software license agreements (ex. AESOP, Applitrak) are coded to supplies and materials instead of purchased services. Regular Instruction 785, , % 792, , % (2,271.22) Vocational Instruction 24, , % 33, , % (256.08) Special Education Instruction 71, , % 52, , % 12, Leveled Literacy purchases as the SH. Annual technology system renewals accounted for in Capital Expenditures prior to UFARS coding changes. Staff Development expenditures for positive psychology training Instructional Support 76, , % 80, , % 109, supplies. Pupil Support 21, , % 16, , % (193.93) In FY16, automatic defibrillator battery replacement Sites And Buildings 418, , % 386, , % (14,791.19) occurred. Total Supplies And Materials $ 1,467, $ 732, % $ 1,428, $ 616, % $ 116, Please note that major UFARS changes occurred in FY17 for technology items. Many items that used to be coded in Capital Expenditures will now appear in Supplies and Materials. CAPITAL EXPENDITURES Administration $ 1, % 4, $ 4, % $ (4,225.67) District Support Services 36, , % 26, , % 21, Storage Area Network replacement. Regular Instruction 844, , % 750, , % FY16 had computer purchases for Roosevelt, Middle School and Senior High. FY16 also had purchases for (101,714.87) student tables and chairs. Vocational Instruction 10, % 2, , % (2,469.28) Special Education Instruction 19, , % 21, , % (2,533.29) Annual technology system renewals are now accounted for Instructional Support 99, % 127, , % (49,281.21) in Supplies and Materials due to UFARS coding changes. Pupil Support % 1, % (126.23) November YTD Revenues & Expenditures FY budget Exp Detail

13 General Fund Expenditures Budget vs Actual YTD November FY 2017 & 2016 Original Budget YTD Actual YTD Actual Audit YTD Actual YTD YTD Description FY FY % FY FY % Difference Comments Timing of building projects. Normally, sites complete the majority of building projects when school is not in session. In FY17, much of the money used for regular building projects is being used to pay for some of the major building projects due to projected costs being more than the referendum amount. Those overages will not be charged to Sites And Buildings 1,435, , % 1,033, , % (535,420.44) this line until later in the year. Total Capital Expenditures $ 2,446, $ 228, % $ 1,969, $ 902, % Please note that major UFARS changes occurred in FY17 for technology items. Many items that used to be coded in Capital Expenditures will now appear in Supplies and $ (674,000.00) Materials. OTHER EXPENDITURES Administration $ 17, $ 16, % $ 16, $ 16, % $ (129.02) District Support Services 37, , % 30, , % 1, Regular Instruction 44, , % 45, , % 3, Vocational Instruction % % Special Education Instruction 57, , % 54, % Instructional Support 7, , % 7, , % (208.89) Pupil Support % % Sites And Buildings 61, , % 62, , % (915.69) Total Other Expenditures $ 226, $ 105, % $ 218, $ 99, % $ 6, TOTAL EXPENDITURES $ 49,658, $ 14,081, % $ 48,818, $ 15,288, % $ (1,206,620.16) November YTD Revenues & Expenditures FY budget Exp Detail

14 Students Enrolled on: 11/25/16 Enrollment Summary Building/Program K Total ALC Prairie Lakes Education Center Lake Park School Lakeview Alternative Program Totals: Kennedy Roosevelt Middle School Senior High ,218 Traditional Program Totals: ,014 TOTAL ,261 FY17 Seat Count Comparison FY17 FY16 FY15 FY14