berea city school district · 2015-03-11 · 2.080 ‐ total rev. and other financing sources...

Berea City School District

December 2014 General Fund

Financial Statements

Superintendent—Michael Sheppard Treasurer/CFO—Ryan Ghizzoni

ComparisonofFiscalYear‐to‐DateRevenue&Expenditures BereaCitySchoolDistrict

FiscalYeartoDateThroughMonthof: December

FYTDActualRecievedJuly‐December FYRemainingCashFlowEstimateJanuary‐June andPercentageofAnnual 2013 2014 2015 2013 2014 2015

RealEstateTaxes 21,997,769 23,646,457 23,259,845 RealEstateTaxes 27,724,150 26,656,486 27,551,502PublicUtilityPPTaxes 1,076,294 1,203,550 1,238,117 PublicUtilityPPTaxes 1,154,483 1,237,541 1,360,351

IncomeTax ‐ ‐ ‐ IncomeTax ‐ ‐ ‐

State‐Aid 3,576,151 4,495,248 4,589,536 State‐Aid 3,811,870 4,146,639 4,628,503RestrictedStateAid 12,933 154,404 676,374 RestrictedStateAid 170,274 (14,638) 580,762

StateTaxReimb. 7,179,526 7,481,224 7,494,594 StateTaxReimb. 7,468,323 7,474,107 7,483,510OtherRevenue 1,548,787 1,819,484 1,787,066 OtherRevenue 2,487,230 1,484,035 2,298,762

OtherSources 299,533 208,834 560,261 OtherSources ‐ ‐ 19,953TotalRevenue 35,690,994 39,009,201 39,605,793 TotalRevenue 42,816,329 40,984,171 43,923,343

RealEstateTaxesPublicUtilityPPTIncomeTax State‐Aid RestrictedStateAStateTaxReimb. OtherRevenue OtherSources

RealEstate 21,997,769 27,724,150 23,646,457 26,656,486 23,259,845 27,551,502PublicUtilityPPT 1,076,294 1,154,483 1,203,550 1,237,541 1,238,117 1,360,351

‐ ‐ ‐ ‐ ‐ ‐

3,576,151 3,811,870 4,495,248 4,146,639 4,589,536 4,628,50312,933 170,274 154,404 (14,638) 676,374 580,762

7,179,526 7,468,323 7,481,224 7,474,107 7,494,594 7,483,5101,548,787 2,487,230 1,819,484 1,484,035 1,787,066 2,298,762

299,533 ‐ 208,834 ‐ 560,261 19,95335,690,994 42,816,329 39,009,201 40,984,171 39,605,793 43,923,343

Real Estate Taxes Public Utility PP Taxes State‐Aid Restricted State Aid State Tax Reimb. Other Revenue Other Sources

‐

10,000,000

20,000,000

30,000,000

40,000,000

50,000,000

60,000,000

2013

2014

2015

2013

2014

2015

2013

2014

2015

2013

2014

2015

2013

2014

2015

2013

2014

2015

2013

2014

2015

‐ 10,000,000 20,000,000 30,000,000 40,000,000 50,000,000 60,000,000 70,000,000 80,000,000 90,000,000

2013

2014

2015

Total Revenue Comparison

FYTD Actual Recieved July ‐December

FY Remaining Cash FlowEstimate January ‐ June

Berea City School District December 2014

General Fund Financial Report

ComparisonofMonthlyRevenue&Expenditures BereaCitySchoolDistrict

MonthlyRevenueandExpendituresforMonthof: December

FYTDActualExpendedJuly‐December FYRemainingCashFlowEstimateJanuary‐June 2013 2014 2015 2013 2014 2015

Salaries $22,580,627 22,000,508 21,001,129 Salaries $23,886,262 $22,738,542 $21,975,000Benefits $12,784,916 11,148,970 10,267,988 Benefits $13,361,767 $10,266,930 $10,045,000

PurchasedServices $4,086,386 4,389,174 4,716,036 PurchasedServices $3,718,692 $4,538,794 $5,365,000

Supplies $1,204,090 1,116,238 932,432 Supplies $760,746 $708,385 $796,000CapitalOutlay $115,010 158,539 251,378 CapitalOutlay $261,851 $121,816 $199,000

Debt&Interest $1,818,635 1,110,915 1,029,083 Debt&Interest $734,998 $570,341 $519,026OtherObjects $543,058 81,943 547,640 OtherObjects $564,966 $609,555 $626,000

OtherFinancingUses $0 ‐ ‐ OtherFinancingUses $165,112 $346,279 $150,000TotalExpenditures $43,132,722 40,006,287 38,745,686 TotalExpenditures $43,454,394 $39,900,642 $39,675,026

Salaries Benefits PurchasedServic Supplies CapitalOutlay Debt&Interest OtherObjects OtherFinancingUses

22,580,627 23,886,262 22,000,508 22,738,542 21,001,129 21,975,00012,784,916 13,361,767 11,148,970 10,266,930 10,267,988 10,045,0004,086,386 3,718,692 4,389,174 4,538,794 4,716,036 5,365,000

1,204,090 760,746 1,116,238 708,385 932,432 796,000115,010 261,851 158,539 121,816 251,378 199,000

1,818,635 734,998 1,110,915 570,341 1,029,083 519,026543,058 564,966 81,943 609,555 547,640 626,000

‐ 165,112 ‐ 346,279 ‐ 150,00043,132,722 43,454,394 40,006,287 39,900,642 38,745,686 39,675,026

Salaries Benefits Purchased Services Supplies Capital Outlay Debt & Interest Other Objects Other Financing Uses

‐

5,000,000

10,000,000

15,000,000

20,000,000

25,000,000

30,000,000

35,000,000

40,000,000

45,000,000

50,000,000

2013

2014

2015

2013

2014

2015

2013

2014

2015

2013

2014

2015

2013

2014

2015

2013

2014

2015

2013

2014

2015

2013

2014

2015

$0 $10,000,000 $20,000,000 $30,000,000 $40,000,000 $50,000,000 $60,000,000 $70,000,000 $80,000,000 $90,000,000

2013

2014

2015

Total Expenditure Comparison

FYTD Actual ExpendedJuly ‐ December

FY Remaining Cash FlowEstimate January ‐ June



CashFlowGraphs BereaCitySchoolDistrict

DollarVariance: (423,162) DollarVariance: (1,256,878)PercentVariance: ‐0.50% PercentVariance: ‐1.58%

DollarVariance: 833,717PercentVariance: 12.66%

ProjectedMonthlyCashFlow CashBalanceOperatingStabilizationLevel 8,000,000$

JunJulAugSepOctNovDecJanFebMarAprMayJunJulAugSepOctNovDec

$0

$10,000,000

$20,000,000

$30,000,000

$40,000,000

$50,000,000

$60,000,000

$70,000,000

$80,000,000

$90,000,000

Oct‐14 PlusRemaining

TotalRevenue

$0

$10,000,000

$20,000,000

$30,000,000

$40,000,000

$50,000,000

$60,000,000

$70,000,000

$80,000,000

$90,000,000


TotalExpenditures

$0

$1,000,000

$2,000,000

$3,000,000

$4,000,000

$5,000,000

$6,000,000

$7,000,000

$8,000,000


CashBalance

3,168,280

$0

$5,000,000

$10,000,000

$15,000,000

$20,000,000

$25,000,000

Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun

7.020 ‐ Ending Cash Balance Cash Balance Operating Stabilization Level

2015 2016



ComparisonofCurrentMonth'sCashFlowEstimatevs.Actual BereaCitySchoolDistrict

FortheMonthDecember5yearforecastRevenueCashFlowFreezeExpenditureCashFlowFreeze

Actual EstimatedDifference fortheMonth fortheMonth

Revenue:1.010‐GeneralPropertyTax(RealEstate) ‐ ‐ ‐1.020‐PublicUtilityPersonalProperty ‐ ‐ ‐

1.030‐IncomeTax ‐ ‐ ‐1.035‐UnrestrictedGrants‐in‐Aid 6,071 741,071 735,000

1.040‐1.045‐RestrictedGrants‐in‐Aid (273) 12,977 13,250

1.050‐PropertyTaxAllocation ‐ ‐ ‐1.060‐AllOtherOperatingRevenues (4,059) 36,341 40,400

1.070‐TotalRevenue 1,739 790,389 788,650

OtherFinancingSources:2.070‐TotalOtherFinancingSources ‐ ‐ ‐

2.080‐TotalRevenuesandOtherFinancingSources 1,739 790,389 788,650

Expenditures:3.010‐PersonnelServices 69,072 3,544,072 3,475,000

3.020‐Employees'Retirement/InsuranceBenefits (83,779) 1,631,221 1,715,0003.030‐PurchasedServices (9,115) 685,885 695,000

3.040‐SuppliesandMaterials (54,403) 70,597 125,000

3.050‐CapitalOutlay (36,708) 173,292 210,0003.060‐4.060‐Intergovernmental,Debt&Interest ‐ ‐ ‐

4.300‐OtherObjects 5,951 17,951 12,0004.500‐TotalExpenditures (108,982) 6,123,018 6,232,000

OtherFinancingUses:5.040‐TotalOtherFinancingUses ‐ ‐ ‐

5.050‐TotalExpendituresandOtherFinancingUses (108,982) 6,123,018 6,232,000

ExcessofRev&OtherFinancingUsesOver(Under)6.010‐ExpendituresandOtherFinancingUses 110,721 (5,332,629) (5,443,350)

BeginningofMonthCashBalance 82,035 8,500,909 8,418,874

EndofMonthCashBalance 192,756 3,168,280 2,975,524

ProjectedDifferencesfromActualCurrentMonthCashFlowtoEstimatedCurrentMonthCashFlow

DollarVariance: 1,739 DollarVariance: (108,982) DollarVariance: 192,756PercentVariance: ‐0.22% PercentVariance: 1.78% PercentVariance: ‐6.08%

‐

100,000

200,000

300,000

400,000

500,000

600,000

700,000

800,000

Actual Estimated

TotalRevenue

‐

1,000,000

2,000,000

3,000,000

4,000,000

5,000,000

6,000,000

7,000,000

Actual Estimated

TotalExpenditures

‐

500,000

1,000,000

1,500,000

2,000,000

2,500,000

3,000,000

3,500,000

Actual Estimated

CashBalance

Analysis:Revenue:The GeneralFundactualrevenueforthemonthwasconsistentwiththeestimatedrevenueprojections.

Exenditures:Salaries‐ Thedistrict‐wideovertimeincreasedforthemonthofDecemberincomparisiontothepreviousmonth'slevels.However,itisstillunderthepreviousyear'samount.Furthermore,classifiedsalariesforthemonthofDecemberwerehigherthantheprojectedlevel.

Berea City School DistrictDecember 2014


BereaCitySchoolDistrict

FiveYearForecastComparisontoActualRevenueCashFlow

FYTDThrough:. December FYTDActual Estimatedfor Proj.from Proj.from CurrentThrough Remaining Actual/Est. BoardApproved CashFlowMonthOf: Months CashFlow Oct‐14 Difference

Revenue: July‐December 2015 5yearforecast fromForecast1.010‐GeneralPropertyTax(RealEstate) 23,259,845 27,551,502 50,811,347 51,560,657 (749,310)

1.020‐TangiblePersonalPropertyTax 1,238,117 1,360,351 2,598,468 2,551,807 46,6611.030‐IncomeTax ‐ ‐ ‐ ‐ ‐

1.035‐UnrestrictedGrants‐in‐Aid 4,589,536 4,628,503 9,218,039 9,203,817 14,2221.040‐1.045‐RestrictedGrants‐in‐Aid 676,374 580,762 1,257,136 1,264,689 (7,553)

1.050‐PropertyTaxAllocation 7,494,594 7,483,510 14,978,104 14,918,097 60,0071.060‐AllOtherOperatingRevenues 1,787,066 2,298,762 4,085,828 3,873,018 212,810

1.070‐TotalRevenue 39,045,532 43,903,390 82,948,921 83,372,085 (423,164)

OtherFinancingSources:2.070‐TotalOtherFinancingSources 560,261 19,953 580,214 580,214 ‐

2.080‐TotalRev.andOtherFinancingSources 39,605,793 43,923,343 83,529,135 83,952,299 (423,164)‐0.504%

FiveYearForecastComparisontoActualExpenditureCashFlow

FYTDThrough: December FYTDActual Estimatedfor Proj.from Proj.from CurrentThrough Remaining Actual/Est. BoardApproved CashFlowMonthOf: Months CashFlow Oct‐14 Difference

Expenditures: July‐December 2015 5yearforecast fromForecast

3.010‐PersonnelServices 21,001,129 21,975,000 42,976,129 42,993,158 (17,029)3.020‐Employees'Retirement/Ins.Benefits 10,267,988 10,045,000 20,312,988 21,194,374 (881,386)

3.030‐PurchasedServices 4,716,036 5,365,000 10,081,036 10,387,608 (306,572)3.040‐SuppliesandMaterials 932,432 796,000 1,728,432 1,779,605 (51,173)

3.050‐CapitalOutlay 251,378 199,000 450,378 450,694 (316)3.060‐4.060‐Intergov.,Debt&Interest 1,029,083 519,026 1,548,109 1,548,109 (0)

4.300‐OtherObjects 547,640 626,000 1,173,640 1,174,043 (403)4.500‐TotalExpenditures 38,745,686 39,525,026 78,270,712 79,527,591 (1,256,879)

OtherFinancingUses:5.040‐TotalOtherFinancingUses ‐ 150,000 150,000 150,000 ‐

5.050‐TotalExp.andOtherFinancingUses 38,745,686 39,675,026 78,420,712 79,677,591 (1,256,879)‐1.577%

ExcessofRev&OtherFin.UsesOver(Under)6.010‐ExpendituresandOtherFinancingUses 860,107 4,248,317 5,108,424 4,274,707 (833,717)



ComparisonofYear‐to‐DateRevenue&Expenditures BereaCitySchoolDistrict

FiscalYeartoDateThroughMonth(s)of: December

Revenue 2014 2015 2014 20152014ActualYTD 2014ActualYTD2015ActualYTD 2015ActualYTD 2014RemainingY2014RemainingY2015RemainingYRemainingYTD%2015EstYTD%

TotalRevenue 39,009,201 0 39,605,793 47.42% 40,984,171 1 43,923,343 52.58% 47.41%RealEstat 23,646,457 47.01% 23,259,845 45.78% 26,656,486 52.99% 27,551,502 54.22% 45.78%PublicUti 1,203,550 49.30% 1,238,117 47.65% 1,237,541 50.70% 1,360,351 52.35% 47.65%IncomeTa ‐ 0.00% ‐ 0.00% ‐ 0.00% ‐ 0.00% 0.00%State‐Aid 4,495,248 52.02% 4,589,536 49.79% 4,146,639 47.98% 4,628,503 50.21% 49.71%Restricted 154,404 110.47% 676,374 53.80% (14,638) ‐10.47% 580,762 46.20% 54.08%StateTax 7,481,224 50.02% 7,494,594 50.04% 7,474,107 49.98% 7,483,510 49.96% 50.02%OtherRev 1,819,484 55.08% 1,787,066 43.74% 1,484,035 44.92% 2,298,762 56.26% 43.73%OtherSou 208,834 100.00% 560,261 96.56% ‐ 0.00% 19,953 3.44% 96.56%

Expenditures 2014 2015 2014 20152014ActualYTD 2014ActualYTD2015ActualYTD 2015ActualYTD 2014RemainingY2014RemainingY2015RemainingYRemainingYTD%2015EstYTD%

TotalExpendi 40,006,287 1 38,745,686 49.41% 39,900,642 0 39,675,026 50.59% 49.70%Salaries 22,000,508 49.18% 21,001,129 48.87% 22,738,542 50.82% 21,975,000 51.13% 48.89%Benefits 11,148,970 52.06% 10,267,988 50.55% 10,266,930 47.94% 10,045,000 49.45% 50.73%Purchased 4,389,174 49.16% 4,716,036 46.78% 4,538,794 50.84% 5,365,000 53.22% 48.35%Supplies 1,116,238 61.18% 932,432 53.95% 708,385 38.82% 796,000 46.05% 55.27%CapitalOu 158,539 56.55% 251,378 55.81% 121,816 43.45% 199,000 44.19% 55.85%Debt&Int 1,110,915 66.08% 1,029,083 66.47% 570,341 33.92% 519,026 33.53% 66.47%OtherObj 81,943 11.85% 547,640 46.66% 609,555 88.15% 626,000 53.34% 46.68%OtherFin ‐ 0.00% ‐ 0.00% 346,279 100.00% 150,000 100.00% 0.00%

Revenue 2013ForecastedAmt

2.080‐TotalRevenuesandOtherF 83,515,8581.010‐GeneralPropertyTax(Real 50,811,3471.020‐TangiblePersonalProperty 2,598,4681.030‐IncomeTax ‐1.035‐UnrestrictedGrants‐in‐Aid 9,203,8231.040‐1.045‐RestrictedGrants‐in 1,264,7841.050‐PropertyTaxAllocation 14,971,7861.060‐AllOtherOperatingRevenu 4,085,4352.070‐TotalOtherFinancingSourc 580,214

Expenditures 2013ForecastedAmt

5.050‐TotalExpendituresandOth 78,869,8073.010‐PersonnelServices 42,993,1583.020‐Employees'Retirement/Ins 20,386,5913.030‐PurchasedServices 10,387,6083.040‐SuppliesandMaterials 1,779,6053.050‐CapitalOutlay 450,6943.060‐4.060‐Intergovernmental, 1,548,1094.300‐OtherObjects 1,174,0435.040‐TotalOtherFinancingUses 150,000

48.77%

47.01%

49.30%

0.00%

52.02%

50.02%

55.08%

100.00%

47.42%

45.78%

47.65%

0.00%

49.79%

53.80%

50.04%

43.74%

96.56%

47.41%

45.78%

47.65%

0.00%

49.71%

54.08%

50.02%

43.73%

96.56%

0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100%

Total Revenue

Real Estate Taxes

Public Utility PP Taxes

Income Tax

State‐Aid

Restricted Aid

State Tax Reimb.

Other Revenue

Other Sources

Year‐to‐Date Revenue Percentage of Annual Total

2014 Actual YTD % 2015 Actual YTD 2015 Est YTD %

50.07%

49.18%

52.06%

49.16%

61.18%

56.55%

66.08%

11.85%

0.00%

49.41%

48.87%

50.55%

46.78%

53.95%

55.81%

66.47%

46.66%

0.00%

49.70%

48.89%

50.73%

48.35%

55.27%

55.85%

66.47%

46.68%

0.00%

0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100%

Total Expenditures

Salaries

Benefits

Purchased Services

Supplies

Capital Outlay

Debt & Interest

Other Objects

Other Financing Uses

Year‐to‐Date Expenditure Percentage of Annual Total

2014 Actual YTD % 2015 Actual YTD 2015 Est YTD %



berea city school district · 2015-03-11 · 2.080 ‐ total rev. and other financing sources...

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