INDEPENDENCE LOCAL SCHOOLS · 2020. 5. 8. · 19842 1,836 Schindler Elevator Service 801441 5,982...
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INDEPENDENCE LOCAL SCHOOLS March 2020 Financial Reports Fiscal Year 2020 Exhibit #2 1
Transcript of INDEPENDENCE LOCAL SCHOOLS · 2020. 5. 8. · 19842 1,836 Schindler Elevator Service 801441 5,982...
INDEPENDENCE LOCAL SCHOOLSMarch 2020 Financial Reports
Fiscal Year 2020
Exhibit #2
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Fiscal Year 2020 Revenue Collection by Fund Exhibit #2
Independence Local Schools
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FY‐20 % 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 19,041,988$ 19,150,235$ 2,852,239$ (108,247)$ 100.57% 75.00% ‐0.57% 25.00%Bond Retirement 002 1,132,500 1,166,685 56,200 (34,185) 103.02% 75.00% ‐3.02% 25.00%Permanent Improvement 003 760,000 733,167 90,351 26,833 96.47% 75.00% 3.53% 25.00%Building 004 ‐ ‐ ‐ ‐ 0.00% 75.00% 0.00% 25.00%Food Service 006 298,500 204,392 17,505 94,108 68.47% 75.00% 31.53% 25.00%Special Trust 007 3,000 1,445 ‐ 1,555 48.16% 75.00% 51.84% 25.00%Endowment 008 ‐ ‐ ‐ ‐ 100.00% 75.00% 0.00% 25.00%Uniform School Supplies 009 2,500 2,750 ‐ (250) 0.00% 75.00% 0.00% 25.00%Public Sch. Support 018 50,000 48,761 4,349 1,239 97.52% 75.00% 2.48% 25.00%Other Grants 019 ‐ ‐ ‐ ‐ 0.00% 75.00% 0.00% 25.00%District Agency 022 10,000 15,419 5,097 (5,419) 154.19% 75.00% ‐54.19% 25.00%Student Managed Activity200 240,970 187,522 14,367 53,448 77.82% 75.00% 22.18% 25.00%District Managed Activity 300 93,250 76,422 16,574 16,828 81.95% 75.00% 18.05% 25.00%State Grants 400 277,044 257,306 2,857 19,738 92.88% 75.00% 7.12% 25.00%Federal Grants 500 109,357 48,666 18,066 60,691 44.50% 75.00% 55.50% 25.00%
22,019,109$ 21,892,770$ 3,077,603$ 126,339$ 99.43% 75.00% 0.57% 25.00%
Exhibit # 2General Fund Revenue Collection
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Month End 3‐31‐2020 Fiscal Year 2020Actual Budget/Estimate Variance Actual Budget/Estimate Variance
Real Estate 809,128$ 695,226$ 113,902$ 12,407,134$ 12,315,010$ 92,124$ TPP (PUPP only) ‐ ‐ ‐ 986,928 982,944 3,984 Foundation 63,974 68,000 (4,026) 646,396 644,250 2,146 Restricted Grants ‐ ‐ ‐ ‐ ‐ ‐ Home/Roll ‐ ‐ ‐ 617,306 617,292 14 Other/Misc. 1,979,137 1,582,000 397,137 4,492,472 3,482,540 1,009,932
Total Revenue: 2,852,239$ 2,345,226$ 507,013$ 19,150,236$ 18,042,036$ 1,108,200$
Revenue up as a result from recent settlement with class II property owners for 2017-19 tax years.
Fiscal Year 2020 Expenditure Projection by Fund Exhibit #2
Independence Local Schools
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FY‐20 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 19,543,723$ 14,211,606$ 1,423,879$ 1,534,123$ 3,797,994$ 72.72% 75.00% 27.28% 25.00%Bond Retirement 002 1,070,515 888,536 7,950 177,200 4,779$ 83.00% 75.00% 17.00% 25.00%Permanent Improvement 003 751,750 624,019 15,109 194,594 (66,863)$ 83.01% 75.00% 16.99% 25.00%Building 004 ‐ ‐ ‐ ‐ ‐$ 0.00% 75.00% 0.00% 25.00%Food Service 006 314,887 280,204 56,043 28,151 6,531$ 88.99% 75.00% 11.01% 25.00%Special Turst 007 3,300 1,698 ‐ ‐ 1,602$ 51.44% 75.00% 48.56% 25.00%Endowment 008 500 ‐ ‐ ‐ 500$ 0.00% 75.00% 100.00% 25.00%Uniform School Supplies 009 2,500 3,901 ‐ 126 (1,527)$ 156.03% 75.00% ‐56.03% 25.00%Public Sch. Support 018 57,471 41,582 3,930 12,096 3,793$ 72.35% 75.00% 27.65% 25.00%Other Grants 019 ‐ ‐ ‐ ‐ ‐$ 0.00% 75.00% 0.00% 25.00%District Agency 022 10,650 8,851 2,827 4,245 (2,446)$ 83.11% 75.00% 16.89% 25.00%Student Managed Activity 200 259,790 169,649 12,366 54,126 36,015$ 65.30% 75.00% 34.70% 25.00%District Managed Activity 300 122,322 86,756 2,344 21,195 14,371$ 70.92% 75.00% 29.08% 25.00%State Grants 400 257,245 155,400 22,020 36,295 65,550$ 60.41% 75.00% 39.59% 25.00%Federal Grants 500 109,357 51,288 7,376 2,389 55,680$ 46.90% 75.00% 53.10% 25.00%
22,504,008$ 16,523,489$ 1,553,842$ 2,064,540$ 3,915,979$ 73.42% 75.00% 26.58% 25.00%
Exhibit #2
General Fund Expenditure
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Month End 3‐31‐2020 FYTD‐2020Actual Budget/Estimate Variance Actual Budget/Estimate Variance
Personnel/Salaries 743,945$ 841,973$ (98,028)$ 7,475,436$ 7,582,319$ (106,883)$ Benefits 295,637 330,330 (34,693) 2,875,686 2,932,885 (57,199) Purchased Services 246,200 206,416 39,784 2,804,155 2,844,472 (40,317) Supplies 30,831 43,526 (12,695) 434,946 531,004 (96,058) Equipment 1,023 10,898 (9,875) 273,840 273,002 838 Debt Service ‐ ‐ ‐ 99,794 99,209 585 Other/Misc. 106,243 100,150 6,093 247,751 267,231 (19,480) Transfers ‐ ‐ ‐ ‐ ‐ ‐
1,423,879$ 1,533,293$ (109,414)$ 14,211,608$ 14,530,122$ (318,514)$
Fiscal Year 2020 vs. Fiscal Year 2019 Exhibit #2
General Fund Monthly Expense Comparison
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July‐18 August‐18 September‐18 October‐18 November‐18 December‐18 January‐19 February‐19 March‐19 Total FYTD‐19Fiscal Year 2019 Expenses Expenses Expenses Expenses Expenses Expenses Expenses Expenses Expenses Expenses
3 Pay Month 3 Pay Month
Salaries 679,518$ 1,067,953$ 780,996$ 749,229$ 690,658$ 822,640$ 719,074$ 716,550$ 1,090,055$ 7,316,673$ Benefits 275,132 357,705 281,528 298,392 273,696 329,863 291,614 288,223 345,546 2,741,699$ Purchase Services 129,232 144,173 201,808 141,705 786,687 208,027 737,019 117,348 267,503 2,733,502$ Supplies 2,733 100,531 88,975 34,667 90,558 36,924 63,662 23,659 36,376 478,085$ Capital Outlay ‐ 109,609 5,614 95,455 1,380 804 33,630 ‐ 4,786 251,278$ Other Expenses/Transfers 7,974 80,961 7,715 99,942 2,718 3,953 1,402 7,822 110,340 322,827$
Total Expenses 1,094,589$ 1,860,932$ 1,366,636$ 1,419,390$ 1,845,697$ 1,402,211$ 1,846,401$ 1,153,602$ 1,854,606$ 13,844,064$
July‐19 August‐19 September‐19 October‐19 November‐19 December‐19 January‐20 February‐20 March‐20 Total FYTD‐20Fiscal Year 2020 Expenses Expenses Expenses Expenses Expenses Expenses Expenses Expenses Expenses Expenses
3 Pay Month
Salaries 718,850$ 743,424$ 882,715$ 824,145$ 1,185,793$ 871,680$ 753,314$ 751,570$ 743,945$ 7,475,436$ Benefits 289,823 314,614 326,732 321,880 372,038 347,046 314,776 293,140 295,637 2,875,686 Purchase Services 167,972 225,451 162,972 723,460 151,613 175,789 779,002 171,696 246,200 2,804,155 Supplies 70,194 87,159 84,974 50,762 27,022 46,239 22,691 15,074 30,831 434,946 Capital Outlay 137,124 5,484 109,429 6,448 811 8,186 2,742 2,593 1,023 273,840 Other Expenses/Transfers 9,390 78,220 16,017 3,798 114,097 13,403 3,931 2,446 106,243 347,545
Total Expenses 1,393,353$ 1,454,352$ 1,582,839$ 1,930,493$ 1,851,374$ 1,462,343$ 1,876,456$ 1,236,519$ 1,423,879$ 14,211,608$
Over/(Under) Previous Yr. 298,764$ (406,580)$ 216,203$ 511,103$ 5,677$ 60,132$ 30,055$ 82,917$ (430,727)$ 367,544$
Purchase Capital Other Over/UnderSalaries Benefits Services Supplies Outlay Expenses Previous Yr.158,763 133,987 70,653 (43,139) 22,562 24,718 367,544$
Fiscal Year 2020 Cash Flow by Fund Exhibit #2
Independence Local Schools
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7/1/2019 Fiscal Fiscal 3/31/2020Cash Yr. to Date Yr. to Date Cash
Fund Description Fund Balance Revenue Expenditures Balance
General 001 $11,730,038 19,150,235$ 14,211,606$ $16,668,667Bond Retirement 002 3,717,041 1,166,685 888,536 3,995,191 Permanent Improvement 003 287,752 733,167 624,019 396,901 Building 004 ‐ ‐ ‐ ‐ Food Service 006 34,287 204,392 280,204 (41,526) Special Trust 007 3,393 1,445 1,698 3,141 Endowment 008 9,219 ‐ ‐ 9,219 Uniform School Supplies 009 16,157 2,750 3,901 15,006 Public Sch. Support 018 25,420 48,761 41,582 32,599 Other Grants 019 ‐ ‐ ‐ ‐ District Agency 022 11,257 15,419 8,851 17,825 Student Managed Activity 200 209,661 187,522 169,649 227,534 District Managed Activity 300 55,869 76,422 86,756 45,534 State Grants 400 ‐ 257,306 155,400 101,907 Federal Grants 500 ‐ 48,666 51,288 (2,622)
$16,100,095 $21,892,770 $16,523,489 $21,469,375
Exhibit #2
Actual Month-End General Fund Cash Balance
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Large variances in cash flow are due to the Real Estate collection cycles in the spring and fall. (Feb. & March – August & Sept.)
Fiscal year 2020 Investment/Reconciliation Report
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CASH RECONCILIATION MonthlyMarch 31, 2020 Balances Interest CYTDStar Ohio 12,025,396.94$ 12,841.18$ 36,776.32$ Star Plus 1,108,404.31 870.25 4,013.21 USBank 6,751,516.86 14,179.27 39,384.39 Dollar Bank 894,303.38 ‐$ ‐ Dollar Bank 507,110.12 ‐$ ‐$ Independence Bk Savings 245,145.59 54.26 173.69 Independence Bk Checking 65,255.74 ‐ ‐
Total Balance Per Bank Statement 21,597,132.94$ 27,944.96$ 80,347.61$
E/Z Pay Dept. not recorded 125.00 ‐$ PS CaféDeposit not recorded 0.00 ‐$ MS CaféNFS 289.00 ‐$ HS CAFÉOutstanding Checks (121,376.54) ‐$ caféOutstanding Payroll checks (6,794.88) ‐$ Bank coding Error 0.00 ‐ Total In‐TransitTotal Adjustments (127,757.42)
Adjusted Total BalancePer Bank Statement 21,469,375.52$
Fund Balances 21,469,375.52
Difference ‐$
Check RegisterInformational Item Warrants over $1,500
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3‐1‐2020 to 3‐31‐2020Check Amount Vendor Description Check Amount Vendor Description19661 1,631 Chemsearch Division Water treatment 19799 5,943 Ohio Schools Council (Gas) Utilities19674 1,832 Division Of Water Utilities 801448 5,952 Medicare/Fica Payroll benefits19842 1,836 Schindler Elevator Service 801441 5,982 Medicare/Fica Payroll benefits19841 1,849 Schaeffer Bus supplies 19834 6,900 Goguardian Instructional software19854 1,897 Division Of Water Utilities 19852 7,357 Brindza, Mcintyre And Seed Legal19762 2,138 Deangelis, Kenneth Reimb. Wrestling 19846 7,958 Suburban School Transportation Special Ed. 19851 2,200 Air Force One, Inc. HVAC 19735 8,137 Suburban School Transportation Special Ed. 19748 2,360 Comp Management, Inc. BWC 19659 8,250 Kaufman Electric Llc Electrical repairs19736 2,425 Transportation Accessori Bus supplies 19782 9,443 Brindza, Mcintyre And Seed Legal19817 2,461 Bsn Sports Athletic apparel 19669 11,185 Trustmark Health Benefits, Inc Dental benefits19675 2,893 Educational Service Cent Hearing Impaired 801445 11,456 SERS Retirement benefits19859 3,104 Amazon.Com Instructional supplies 19700 11,578 Air Force One, Inc. HVAC repairs19691 3,394 Rdp Sports Plus, Inc. Athletic apparel 801437 12,030 SERS Retirement benefits19829 3,427 Rush Trucking Center Bus repairs 19825 12,210 Gordon Food Service Cafeteria supplies19855 3,500 Cmp Communications Llc Public relations 19860 12,883 Kidslink Neurobehavioral Ctr. Special Ed. 19853 3,974 Buckeye International, Inc. Maintenance supplies 19873 13,484 United Cerebral Palsy Assoc. Special Ed. 19694 4,141 State Auditor Audit fee 19655 15,067 Gordon Food Service Cafeteria supplies19724 4,222 Northeast Ohio Reg. Sewe Utilities 19806 18,771 Illuminating Company, The Utilities19676 4,328 Frontline Technologies Group Software 19729 19,101 Illuminating Company, The Utilities19650 4,500 Charles P. Braman & Co. Inc. Appraisal P/S 19801 24,113 Psi Associates Nurse, Medical personnel19823 4,550 Educational Service Cent On‐line learning 19867 24,171 Psi Associates Nurse, Medical personnel19749 5,485 Dominion East Ohio Utilities 801440 42,983 STRS Retirement benefits801439 5,687 STRS Retirement benefits 801447 43,240 STRS Retirement benefits801446 5,723 STRS Retirement benefits 801442 189,442 Orange City Schools‐Shc Medical premiums19863 5,769 Meg Inc. Special Ed. Services 801443 384,835 Payroll Transfer Payroll 19754 5,835 Forecast 5 Analytics, Inc. financial Software 801435 387,138 Payroll Transfer Payroll19663 5,943 Ohio Schools Council (Gas) Utilities
Projected General Fund Monthly Cash Flow
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Monthly Cafeteria Report
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FY‐19 2018 2018 2018 2018 2018 2018 2019 2019 2019 FY‐2019July August September October November December January February March Total
ReceiptsHigh Sch. 75 5,400 5,264 7,567 5,828 4,573 4,932 5,684 4,878 44,203
Middle Sch. ‐ 7,006 7,217 9,074 9,612 6,316 7,034 7,834 8,106 62,200 Primary Sch. 105 9,347 6,421 10,101 8,123 7,100 6,965 9,204 7,844 65,210
Other ‐ 1,114 146 5,822 6,110 ‐ 7,820 4,327 4,473 29,812 Total Receipts 180 22,867 19,048 32,564 29,673 17,990 26,750 27,049 25,301 201,423
Expenditures 3 pay month 3 pay month TotalHigh Sch. 118 6,498 4,309 12,859 8,874 4,588 8,011 9,212 9,870 64,339
Middle Sch. (3,156) 5,517 5,527 12,953 9,986 5,809 11,859 10,910 11,368 70,772 Primary Sch. 3,519 7,766 5,455 11,265 9,256 4,979 11,374 9,297 10,850 73,760
Other ‐ 11,954 ‐ 200 2,604 1,637 45 1,447 2,251 20,138 Total Expenditures 481 31,735 15,290 37,277 30,720 17,013 31,288 30,866 34,338 229,009
FY‐2019 Balance to Date: 31,792 4,206 FY‐2020 Balance to Date: 2019 2019 2019 2019 2019 2019 2020 2020 2020 FY‐2020
July August September October November December January February March TotalReceipts
High Sch. 75 3,562 5,658 9,464 6,839 6,064 7,163 8,714 3,253 50,792 Middle Sch. 60 5,654 7,343 10,057 8,021 6,404 8,626 9,104 3,766 59,034 Primary Sch. 110 7,423 7,708 9,800 8,995 7,673 10,214 10,553 4,198 66,674
Other ‐ ‐ 611 7,952 135 5,026 3,708 4,171 6,287 27,892 Total Receipts 245 16,639 21,320 37,273 23,990 25,166 29,711 32,543 17,505 204,392
Expenditures 3 pay month TotalHigh Sch. 4,826 2,868 4,272 16,572 16,894 10,818 8,549 7,016 18,122 89,937
Middle Sch. 3,439 3,439 5,281 12,967 13,704 11,640 10,770 8,160 21,216 90,617 Primary Sch. 2,295 2,359 4,775 12,548 14,690 11,228 8,874 5,754 15,228 77,751
other 7,420 4,800 220 1,289 2,665 1,151 541 2,337 1,476 21,898 Total Expenditures 17,980 13,467 14,548 43,376 47,952 34,837 28,734 23,268 56,043 280,204 FY‐2020 Balance to Date: 34,287 (41,526)
FY‐2019 FY‐2020 Inc./Dec.July ‐ July ‐ over
March 31 March 31 Previous yr.Salaries 104,333 124,345 20,012Benefits 27,717 33,371 5,653Purch. Serv. 13,549 15,005 1,455Supplies 83,409 106,227 22,818Equipment ‐ 1,256 1,256
229,009 280,204 51,195
Expenditure Categories:
Expenditure Categories:
FY‐2019 FY‐2020 Inc./Dec.July ‐ July ‐ over
March 31 March 31 Previous yr.Sales Type A 171,612 176,500 4,888Misc., Vending 4,289 7,091 2,802State Subsidy ‐ ‐ 0Federal Subsidy 25,523 20,801 (4,721)Transfer ‐ ‐ 0
201,423 204,392 2,968
Revenue Categories:
Revenue Categories:
Salaries & Benefits will continue without any
revenue coming in.
Cafeteria Meals Served & Year-end Summary
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Expenditure Categories: FY‐2019 FY‐2018 FY‐2017 FY‐2016 FY‐2015 FY‐2014 FY‐2013 FY‐2012 FY‐2011Salaries 138,704$ 144,889$ 138,470$ 138,955$ 134,707$ 142,212$ 131,725$ 128,471$ 129,648$ Benefits 35,926 33,221 35,741 31,999 34,515 36,346 35,804 35,686 41,761 Purchase Services 14,288 14,586 11,751 11,319 11,956 4,236 4,917 1,460 1,009 Supplies 122,224 109,653 112,048 115,023 104,630 113,684 115,175 131,785 137,508 Equipment 61 ‐ 1,382
311,203$ 302,349$ 299,392$ 297,296$ 285,808$ 296,477$ 287,621$ 297,402$ 309,925$
Substitute Cost: 4,650 11,564 12,382 10,311 4,700 11,133 4,031 4,800 7,782
Cafeteria Summary of Expenditures
• Started school later in Fy-20.
• Only 9 serving days in March.
• Losing another 20 serving day in April.
FY‐19 2018 2018 2018 2018 2018 2018 2019 2019 2019 2019July August September October November December January February March Total
Meals Served/# Serving Days ‐ 26 22 18 15 14 18 15 128
High Sch. ‐ ‐ 1,336 1,174 920 683 744 935 790 6,582
Middle Sch. ‐ ‐ 2,322 2,057 1,802 1,399 1,332 1,787 1,434 12,133
Primary Sch. ‐ ‐ 2,477 2,691 2,342 2,038 1,757 2,526 2,056 15,887
Total Meals Served ‐ ‐ 6,135 5,922 5,064 4,120 3,833 5,248 4,280 34,602 FY‐20 2019 2019 2019 2019 2019 2019 2020 2020 2020 FY‐2020
July August September October November December January February March TotalMeals Served/# Serving Days 3 19 22 16 15 18 19 9 121
High Sch. ‐ 151 1,110 1,233 871 882 926 1,041 448 6,662 Middle Sch. ‐ 224 1,703 2,032 1,571 1,370 1,384 1,493 708 10,485 Primary Sch. ‐ 265 2,394 2,845 2,349 2,236 2,479 2,787 1,321 16,676
Total Meals Served ‐ 640 5,207 6,110 4,791 4,488 4,789 5,321 2,477 33,823
Over/Under Previous FY: (779)
