INDEPENDENCE LOCAL SCHOOLS Board Meeting

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

2 Independence Local Schools Fiscal Year 2016 Revenue Collection by Fund Exhibit #2 FY 16 % 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 $ 16,349,554 $ 16,204,710 $ 326,473 $ 144, % 91.67% 0.89% 8.33% Bond Retirement 002 1,202,200 1,540,253 33,604 (338,053) % 91.67% 28.12% 8.33% Permanent Improvement , ,726 12,140 23, % 91.67% 3.84% 8.33% Building % 91.67% 0.00% 8.33% Food Service , ,036 28,177 52, % 91.67% 17.65% 8.33% Endowment % 91.67% 0.00% 8.33% Uniform School Supplies (876) 0.00% 91.67% 0.00% 8.33% Public Sch. Support ,766 75,058 12,527 (18,292) % 91.67% 32.22% 8.33% Other Grants % 91.67% 0.00% 8.33% District Agency ,000 13,098 5,116 (1,098) % 91.67% 9.15% 8.33% Student Managed Activity , ,219 31,869 6, % 91.67% 2.96% 8.33% District Managed Activity ,000 56,224 1,445 38, % 91.67% 40.82% 8.33% State Grants , ,144 (10,744) % 91.67% 4.09% 8.33% Federal Grants ,000 96,602 7,255 (12,602) % 91.67% 15.00% 8.33% $ 19,214,592 $ 19,328,944 $ 458,605 $ (114,352) % 91.67% 0.60% 8.33% 2

General Fund Revenue Collection Exhibit # 2 Month End 5 31 2016 Fiscal Year 2016 Actual Budget/Estimate Variance Actual Budget/Estimate Variance Real

874,446 29,210 Restricted Grants Home/Role & TPP Reimb 158,088 158,088 1,429,724 1,408,258 21,466 Other/Misc.

3 General Fund Revenue Collection Exhibit # 2 Month End Fiscal Year 2016 Actual Budget/Estimate Variance Actual Budget/Estimate Variance Real Estate $ 75,000 $ $ 75,000 $ 12,769,938 $ 12,924,865 $ (154,927) TPP (PUPP only) 643, ,765 82,361 Foundation 54,163 62,780 (8,617) 903, ,446 29,210 Restricted Grants Home/Role & TPP Reimb 158, ,088 1,429,724 1,408,258 21,466 Other/Misc. 39,221 22,490 16, , ,748 41,514 Total Revenue: $ 326,472 $ 243,358 $ 83,114 $ 16,204,706 $ 16,185,082 $ 19,624 Received a real estate advance for fiscal year 2017 (Fall collection). 3

4 Independence Local Schools Fiscal Year 2016 Expenditure Projection by Fund Exhibit #2 Fy 16 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 $ 16,225,277 $ 14,199,878 $ 1,150,706 $ 706,918 $ 1,318, % 91.67% 12.48% 8.33% Bond Retirement 002 1,058,640 1,052, ,195 $ 6, % 91.67% 0.62% 8.33% Permanent Improvement 003 1,010, ,565 24, ,182 $ (252,289) 87.74% 91.67% 12.26% 8.33% Building 004 $ 0.00% 91.67% 0.00% 8.33% Food Service , ,456 37,695 21,976 $ 2, % 91.67% 8.31% 8.33% Endowment 008 7,486 $ 7, % 91.67% % 8.33% Uniform School Supplies 009 3, $ 2, % 91.67% 92.88% 8.33% Public Sch. Support ,575 74,878 24,901 5,147 $ 1, % 91.67% 8.21% 8.33% Other Grants 019 9,872 9,872 $ % 91.67% 0.00% 8.33% District Agency ,150 15,160 8,151 $ (3,010) % 91.67% 24.78% 8.33% Student Managed Activity , ,043 20,672 30,840 $ (8,594) 90.21% 91.67% 9.79% 8.33% District Managed Activity ,000 92,921 3,698 4,916 $ (1,837) 96.79% 91.67% 3.21% 8.33% State Grants , ,068 61,666 53,059 $ 18, % 91.67% 27.80% 8.33% Federal Grants ,602 96,384 5,739 $ % 91.67% 0.23% 8.33% $ 19,386,455 $ 17,094,497 $ 1,490,660 $ 1,199,037 $ 1,092, % 91.67% 11.82% 8.33% 4

General Fund Expenditure Exhibit #2 Month End 5 31 2016 FYTD 2016 Actual Budget/Estimate Variance Actual Budget/Estimate Variance Personnel/Salaries $ 684,042 $ 656,538 $ 27,504 $ 7,903,325 $

5 General Fund Expenditure Exhibit #2 Month End FYTD 2016 Actual Budget/Estimate Variance Actual Budget/Estimate Variance Personnel/Salaries $ 684,042 $ 656,538 $ 27,504 $ 7,903,325 $ 8,030,140 $ (126,815) Benefits 232, ,550 (28,446) 2,770,120 2,906,939 (136,819) Purchased Services 206, ,673 38,126 2,748,013 2,807,477 (59,464) Supplies 16,990 57,496 (40,506) 345, ,555 (134,033) Equipment 62 2,000 (1,938) 150, ,000 2,316 Debt Service Other/Misc. 10,709 13,000 (2,291) 282, ,444 (76,861) Transfers $ 1,150,706 $ 1,158,257 $ (7,551) $ 14,199,879 $ 14,731,555 $ (531,676) 5

6 General Fund Monthly Expense Comparison Fiscal Year 2016 vs. Fiscal Year 2015 Exhibit #2 July 14 August 14 September 14 October 14 November 14 December 14 January 15 February 15 March 15 April 15 May 15 Total FYTD 15 Fiscal Year 2015 Expenses Expenses Expenses Expenses Expenses Expenses Expenses Expenses Expenses Expenses Expenses Expenses 3 Pay Month 3 Pay Month Salaries $ 600,918 $ 681,297 $ 647,854 $ 970,823 $ 678,614 $ 696,023 $ 673,386 $ 599,289 $ 606,469 $ 673,334 $ 959,848 $ 7,787,855 Benefits 230, , , , , , , , , , ,293 $ 2,693,274 Purchase Services 140, , , , , , , , , , ,858 $ 2,812,765 Supplies 28,350 24,555 89,962 40,250 34,489 46,472 32,263 6,953 23,626 39,233 21,409 $ 387,562 Capital Outlay 1,578 2,345 2, ,353 $ 17,277 Other Expenses 1,053 26,643 8,940 85,088 9,878 14,977 53, ,312 1,310 (33,124) 863 $ 271,645 Total Expenses $ 1,001,775 $ 1,129,647 $ 1,192,127 $ 2,059,449 $ 1,112,538 $ 1,172,566 $ 1,146,508 $ 1,563,300 $ 974,215 $ 1,165,629 $ 1,452,624 $ 13,970,378 July 15 August 15 September 15 October 15 November 15 December 15 January 16 February 16 March 16 April 16 May 16 Total FYTD 16 Fiscal Year 2016 Expenses Expenses Expenses Expenses Expenses Expenses Expenses Expenses Expenses Expenses Expenses Expenses 3 Pay Month 3 Pay Month Salaries 617, , , , , , , , , , ,042 7,903,325 Benefits 230, , , , , , , , , , ,104 2,770,120 Purchase Services 68, , , ,184 92,827 61, ,290 53, , , ,799 2,748,013 Supplies 7,302 74,553 61,529 23,950 22,633 17,702 52,033 12,371 34,792 21,667 16, ,522 Capital Outlay 10, ,598 6,341 5,663 5,316 1,752 1,148 3, ,316 Other Expenses 1,209 84,719 9,553 15,332 10,135 3,547 12,256 1, ,353 5,192 10, ,583 Total Expenses $ 935,793 $ 1,518,129 $ 1,169,837 $ 2,010,953 $ 1,008,603 $ 1,024,349 $ 1,701,874 $ 920,872 $ 1,245,930 $ 1,512,833 $ 1,150,706 $ 14,199,879 Over/(Under) Previous Yr. $ 65,982 $ (388,482) $ 22,290 $ 48,496 $ 103,935 $ 148,217 $ (555,366) $ 642,428 $ (271,715) $ (347,204) $ 301,918 $ 229,501 Over/Under Salaries Benefits Purchase Services Supplies Capital Outlay Other Expenses Previous Yr. 115,470 76,846 (64,752) (42,040) 133,039 10,938 $ 229,501 6

7 Independence Local Schools Fiscal Year 2016 Cash Flow by Fund Exhibit #2 7/1/2015 Fiscal Fiscal 5/31/2016 Cash Yr. to Date Yr. to Date Cash Fund Description Fund Balance Revenue Expenditures Balance General 001 $8,197,491 $ 16,204,710 $ 14,199,878 $10,202,323 Bond Retirement 002 2,591,958 1,540,253 1,052,058 3,080,153 Permanent Improvement , , , ,204 Building 004 Food Service 006 1, , ,456 (27,401) Endowment 008 7,486 7,486 Uniform School Supplies 009 9, ,421 Public Sch. Support ,249 75,058 74,878 30,429 Other Grants 019 9,872 9,872 District Agency 022 4,225 13,098 15,160 2,162 Student Managed Activity , , , ,110 District Managed Activity 300 1,346 56,224 92,921 (35,351) State Grants , ,068 87,076 Federal Grants ,602 96, $11,614,383 $19,328,944 $17,094,497 $13,848,830 7

8 Actual Month-End General Fund Cash Balance Exhibit #2 $13 $11 $9 $7 $5 $3 $1 July August September October November December January Februrary March April May June July August September October

8 8 Actual Month-End General Fund Cash Balance Exhibit #2 $13 $11 $9 $7 $5 $3 $1 July August September October November December January Februrary March April May June July August September October November December January Februrary March April May June July August September October November December January Februrary March April May June July August September October November December January Februrary March April May Millions

9 Investment/Reconciliation Report Fiscal year 2016 Exhibit #3 CASH RECONCILIATION May 16 Monthly Rate Interest cytd NFS $ 0.04% $ $ 2, $ Star Oho 568, Star Plus 10,700, % $ 3, $ 13, $ Dollar Bank 51, % $ $ Dollar Bank 355, Dollar Bank 119, Independence Bk Savings 184, % Independence Bk Checking 100, n/a Independence Bk CD 500, % 1, Independence Bk CD 1,500, % 2, Total Balance Per Bank Statement $ 14,079, $ 3, $ 20, $ E/Z Pay Dept. not recorded In Trans. Deposits In Transit H/S Café NFS M/S Café Outstanding Checks (112,576.06) P/S Café Outstanding Payroll checks (118,702.68) OSDI Ck. (50.73) Ck. Coding Error Budgetary (297.00) $ Ck. Coding Error Payroll (280.00) Bank Fee Adjusted Total Balance Per Bank Statement 13,848, Fund Balances 13,848, Difference $ 9

10 Check Register Informational Item Warrants over $1, to Check Amount Vendor Description Check Amount Vendor Description ,527 SERS Retirement Benefits ,534 Fan Cloth Spirit Wear Football ,548 AT&T Phone Service ,570 Squire Patton Boggs LLP Legal Services ,548 Fan Cloth Cheerleading ,699 Ace Copier Service Agreement ,624 Chagrin Valley Conference CVCC Track ,976 Medicare/Fica Payroll Benefits ,670 Follett Educational Auxiliary Services ,302 CES HVAC Repairs ,711 Premier Produce One, Inc. Cafeteria ,400 Royal Business Equipment Co. Tech. Equipment ,751 Ronald Reagan Bld. & Int. Trade Meal Voucher DC Trip ,796 Medicare/Fica Payroll Benefits ,797 Ohio Mobile Gaming Corp 8th Grd. Last Day ,002 Jay H. Berk, Ph. D, Inc. Special Ed. Services ,811 Truck Pro Bus Repairs ,043 Elk Enterprises, LLC Building Doors ,873 Koussa, Michelle imovement ,176 Gordon Food Service Cafeteria ,896 Quadstar Digital Tech. Equipment ,434 BWC BWC Premium ,901 Renaissance Learning Auxiliary Services ,448 Premier Truck Parts Bus Repairs ,917 Sherwin Williams Co. Locker room Paint ,000 Rea & Associates, Inc. Audit Services ,995 Pisanick Partners, LLC Café Software Renewal ,709 Suburban School Transportation Special Ed. Transportation ,050 William Sadler, Inc. Auxiliary Services ,889 Gordon Food Services Cafeteria ,053 CED Inc. Lighting/Signage ,586 Coresource Inc. Dental Benefits ,095 BrainPop Auxiliary Services ,817 College Board, The AP Tests ,295 ESC EMIS Coordinator ,556 PSI Associates Nurse Services ,496 Cedar Point Class Trip ,676 Taylor Consulting Group, LLC Roof General Contractor ,592 Dominion East Ohio Utilities ,627 G & G, Inc Auxiliary Services ,702 Brindza, McIntyre and Seed Legal Services ,402 SERS Retirement Benefits ,776 Amazon.com Instructional Equipment ,978 United Cerebral Palsy Assoc. Special Ed. Services ,822 Cedar Point Class Trip ,323 PSI Associates Auxiliary Services ,976 Dominion East Ohio Utilities ,451 STRS Retirement Benefits ,092 Simplexgrinnell Fire/Alarm Service ,506 STRS Retirement Benefits ,168 Digicom District Copies ,676 Illuminating Company, The Utilities ,500 CMP Communication Public Relations ,000 Payroll Transfer Settlement ,946 Brindza, McIntyre and Seed Legal Services ,347 Orange City Schools Health Ins. Benefits ,024 Macmillan/McGraw Hill Auxiliary Services ,801 Huntington National Bank Bond/HB 264 Interest ,341 STRS Retirement Benefits ,880 Payroll Transfer Payroll ,341 STRS Retirement Benefits ,410 Payroll Transfer Payroll

11 11 Projected General Fund Monthly Cash Flow

12 Monthly Cafeteria Report Fiscal Year 2016 FY FY 2015 July August September October November December January February March April May Total Receipts High Sch. 5,259 5,887 7,357 5,380 4,207 5,407 5,053 7,318 4,995 5,982 56,847 Middle Sch. 5,094 6,379 7,627 5,849 3,506 6,545 5,167 7,324 4,602 4,908 57,001 Primary Sch ,083 6,554 8,648 6,975 4,701 6,795 5,988 8,276 5,907 4,582 64,621 Other ,677 5,993 4,882 3,858 4,642 4,426 5, ,794 Total Receipts ,437 18,904 31,310 24,198 17,296 22,606 20,850 27,345 21,439 15, ,262 Expenditures 3 pay month 3 pay month Total High Sch. 3,768 3,765 5,227 13,612 8,390 6,801 7,597 7,807 7,195 7,813 8,671 80,648 Middle Sch. 3,066 3,034 4,545 15,003 8,626 7,400 7,587 8,014 7,522 8,430 9,477 82,704 Primary Sch. 3,368 3,368 4,206 13,091 8,621 6,805 6,864 7,541 7,128 7,338 8,364 76,694 Other 4, , ,315 1,007 4, ,075 19,860 Total Expenditures 14,446 10,866 18,530 42,235 26,953 22,013 22,049 28,065 21,913 24,248 28, ,905 FY 2015 Balance to Date: 785 (42,859) FY FY 2016 July August September October November December January February March April May Total Receipts High Sch. 5,464 6,318 6,784 6,358 4,442 6,245 6,509 6,834 5,318 4,110 58,382 Middle Sch. 7,358 6,650 7,892 6,175 5,054 7,879 7,681 7,144 7,248 6,395 69,475 Primary Sch ,264 7,457 9,656 7,478 5,742 9,472 8,512 5,870 8,742 7,922 78,303 Other ,177 5,472 4,672 3,459 4, ,317 9,750 40,875 Total Receipts ,151 20,446 31,507 25,483 19,910 27,055 27,378 19,906 26,624 28, ,036 Expenditures 3 pay month 3 pay month Total High Sch. 1, ,838 14,423 3,779 9,879 9,038 4,305 10,748 6,843 9,025 73,002 Middle Sch. 3,089 3,089 6,759 15,138 4,633 8,731 9,664 5,027 12,835 9,587 14,797 93,349 Primary Sch. 3,522 3,522 4,346 14,377 4,139 9,029 9,438 4,216 13,324 6,923 11,776 84,612 other 9, , ,743 1, ,097 24,493 Total Expenditures 17,121 8,093 21,357 44,138 12,552 28,208 29,883 14,858 37,664 23,887 37, ,455 FY 2016 Balance to Date: 1,019 (27,401) Expenditure Expenditure Categories: FY 2016 FY 2015 Inc./Dec. July July over May 31 May 31 Previous yr. Categories: Salaries 127, ,434 7,348 Benefits 29,615 31,698 (2,083) Purch. Serv. 11,219 11,956 (737) Supplies 106,839 95,817 11,022 Revenue 275, ,905 15,550 Revenue Categories: FY 2016 FY 2015 Inc./Dec. July July over May 31 May 31 Previous yr. Categories: Sales Type A 206, ,468 27,551 Misc., Vending 1,312 1,969 (656) State Subsidy (72) Federal Subsidy 38,915 34,964 3, , ,262 30,774 12

13 Cafeteria Meals Served Comparison FY FY 2015 September October November December January February March April May June Total Meals Served/# Serving Days High Sch. 2,415 1,988 1,394 1,048 1,526 1,309 1,928 1,404 1, ,554 Middle Sch. 2,085 1,794 1,231 1,042 1,306 1,147 1,587 1,093 1, ,763 Primary Sch. 3,320 2,901 2,132 1,999 2,177 1,986 2,846 2,171 2, ,290 Total Meals Served 7,820 6,683 4,757 4,089 5,009 4,442 6,361 4,668 5, ,607 FY FY 2016 September October November December January February March April May June Total Meals Served/# Serving Days High Sch. 2,234 1,666 1,351 1,351 1,373 1,463 1,326 1,243 1, ,219 Middle Sch. 2,290 1,655 1,415 1,415 1,542 1,613 1,463 1,658 1,782 14,833 Primary Sch. 3,449 2,983 2,499 2,499 2,484 2,676 2,595 2,859 2, ,060 Total Meals Served 7,973 6,304 5,265 5,265 5,399 5,752 5,384 5,760 5, ,112 Inc./Dec. over previous yr. Over/Under Previous Yr: 3,505 13

INDEPENDENCE LOCAL SCHOOLS Board Meeting

Exhibit #2 INDEPENDENCE LOCAL SCHOOLS Board Meeting 3-14-2017 February 2017 Financial Reports 1 Independence Local Schools Fiscal Year 2017 Revenue Collection by Fund Exhibit #2 FY 17 % of Projected %