Docstoc

greenwich board of education - Greenwich Public Schools

Document Sample
greenwich board of education - Greenwich Public Schools Powered By Docstoc
					                              GREENWICH PUBLIC SCHOOLS

                                    Greenwich, Connecticut


Date of Meeting:        January 20, 2011

Title of Item:          Financial Report Period Ending 12/31/2010

Policy Reference:       E - 020


       REQUEST FOR BOARD ACTION OR PRESENTATION OF INFORMATIONAL ITEM

______X______ Action Requested                                            Informational Only

                 Submitted By:        __Benjamin B. Branyan             _

                 Position:            _School Business Administrator__

                 I will be present at Board meeting to explain if called upon:

                                  ___X__                          _____
                                    Yes                             No

ATTACHMENTS:

1.     Staffing Variance Report: 2010-2011 Budget to Actual
       Only change was in employee group: LIUNA – BOE Professional Assistant, of
       the total 5.8 vacancies, 3.7 were filled, leaving 2.1 to be filled.

2.     Budget status reports: General Fund
       Original Budget Appropriation has increased by $290,492. This increase was for
       the following activities:
                     $ 18,066      M/C Salary Schedule and Employee Evaluation
                     $119,373      Continuing Education
                     $153,053      Summer School
                     $290,492
       The increase in budget appropriation for continuing education and summer
       school is offset by the expenditures for the programs.

3.     Schedule of active contracts with a cumulative value of $50,000 or greater
       No changes to report since December’s report.




                                                                                               1
4.    Budget status reports: General Fund Revenue
      Only major change since the December’s report is addition of $772,502 for
      school construction progress payment. All general fund revenue is deposited in
      the Town of Greenwich’s General Fund.

5.    Budget status reports: FY 2010-2011 Grants
      No major changes since December’s report. There is a delay at the State
      granting final approval of the Consolidated Grants; therefore no revenue has
      been drawdown. The District anticipates approval shortly. There is no concern
      that the grant will not be approved.

6.    Budget status reports: FY 2009-2010 carryover grants
      No major changes since December’s report. Continuing to review available
      balances and spend accordingly.

7.    Budget status reports: School Lunch Program
      The projection has remained fairly consistent since the December’s report. Using
      the fiscal year end (FYE) 2011 projected surplus the projected fund balance FYE
      2011 decreases to a negative $171,265. (This is a positive change from a
      negative $193,141 fund balance on FYE 2010.)

      As a reminder over the next four (4) years, the Food Service Department has
      been charged by the Town to bring the fund balance to a break-even or zero (0)
      status.

AREAS OF CONCERNS

The Business Office has assembled the data for fiscal year end 2011 projected fund
balance. The last 9 pages of this report provide greater detail of the forecast. Two
methods were used: burn rate method and line item method.

The burn rate method uses the year-to-date expenses and uses actual expenses to
provide average monthly expense for forecasted months. This method has produced a
projected fund balance of $4,149,096 or 3.12% of revised operating budget.

The line item method uses the year-to-date expenses and where applicable uses prior
two (2) years of expenditure history to project fiscal year end. This method reviewed
approximately 2,400 individual line items to produce a projected fund balance of
$1,687,899 or 1.27% of revised operating budget.

During the Board meeting a detail review of attached forecast will be presented.

RECOMMENDED ACTION:

      1.     Authorize the acceptance of the financial statement for the period ending
             December 31, 2010.

                                                                                    2
                                      STAFFING REPORT - JANUARY 2011

                                      Budgeted 
         Employee Group                         Actual FTEs Variance                                Notes
                                        FTEs
Cert Non‐Rep                              5.0         5.6        0.6     Director of HR position = + 0.6
Cert Non‐Rep Non‐Instructional*           0.0         1.0        1.0     School Business Admin. Position reclassified 
GOSA                                     56.5        56.9        0.4     Summer School Coordinator = + 0.4
GEA                                     807.5       818.8       11.3     See new positions below 
GEA ‐ EVOLVE*                             0.0         5.8        5.8
M & C                                     7.8         6.8       ‐1.0     School Business Admin. Position reclassified 
Teamsters                                99.0        98.0       ‐1.0     1 vacancy to be filled 
GMEA                                    120.4       118.4       ‐2.0     2 vacancies to be filled
LIUNA                                    11.5        12.5        1.0     GEA technology teacher moved to LIUNA
AFSCME ‐ Nurses                          17.0        17.0        0.0
LIUNA ‐ BOE Prof. Assts.                188.4       163.3      ‐25.1     23 converted to 5.8 GEA positions; 2.1 to be filled
LIUNA ‐ BOE Security                     10.0        10.0        0.0
              TOTAL                    1,323.1     1,314.1      ‐9.0
* Not included in ratio calculation


                                                New Positions for 2010-2011
             Position                  August     September   Oct‐Nov    December       YTD Total                Notes
          World Language                0.4          0.2        0.0         0.0            0.6      CMS ‐ French
        Classroom Teacher               5.0          1.0        0.0         0.0            6.0      New Leb
         Music/Orchestra                0.4          0.2        0.0         0.0            0.6      Elem sections
                 PE                     0.0          0.1        0.0         0.0            0.1      Travel FTE @ ARCH
         Speech/Language                0.4          0.0        0.0         0.0            0.4      Maternity Leave Coverage
                Art                     0.4           0         0.0         0.0            0.4      Elem sections
         Special Education              2.5          0.0        0.0         0.0            2.5      Student Need
       AIM (At‐risk Students)           0.2          0.0        0.0         0.0            0.2      Student Need
              Media                     0.5          0.0        0.0         0.0            0.5      Tech Plan Implementation
           TOTAL NEW                    9.8          1.5        0.0         0.0           11.3     Total appears in Actuals above



                                          2010-2011 Ratio
                                        Budgeted Students        Certified Staff
                                              8,863                  881.3
                                                                  Ratio 10.1
                             GREENWICH BOARD OF EDUCATION - GENERAL FUND
                                                            December 31, 2010
                                                                                                                    % of Year
                                              PERIOD            6                                                   Remaining
                                                                                                                     50.00%
                                Fiscal 2011                 Fiscal 2011   Expended      Encumbered     Balance       Per Cent   Per Cent
          Category              Approved       Revisions     Modified        as of          as of        as of       Balance    Balance
                                  Budget                      Budget      12/31/2010     12/31/2010   12/31/2010    12/31/2010 12/31/2009

Administration - 600
  Salaries                        4,210,667       -63,923     4,146,744     1,708,563        74,699     2,363,483    57.0%       63.2%
  Other Expenses                    527,425          -457       526,968       187,672        22,058       317,238    60.2%       47.4%
  Supplies                           76,992          -847        76,145        25,559         2,158        48,427    63.6%       74.6%
  Maintenance                         3,970         6,000         9,970         4,387         1,737         3,846    38.6%       50.1%
 Fixed Charges                      100,000             0       100,000             0             0       100,000    100.0%      94.6%
  Subtotal                        4,919,054       -59,227     4,859,827     1,926,181       100,652     2,832,994    58.3%       62.7%

Instruction - 620
  Salaries                       99,969,580       217,199 100,186,779      39,401,200     1,169,993    59,615,586     59.5%      60.5%
  Other Expenses                  4,226,827       139,210   4,366,037       2,376,068     1,994,485        -4,516     -0.1%       2.9%
  Supplies                        3,175,483        -4,967   3,170,516       1,402,658       557,331     1,210,527     38.2%      39.7%
  Maintenance                       397,478        -4,268     393,210         152,674        79,796       160,739     40.9%      27.6%
  Fixed Charges                     150,000             0     150,000           2,636           494       146,870     97.9%      94.5%
  Subtotal                      107,919,368       347,174 108,266,542      43,335,236     3,802,100    61,129,206     56.5%      57.5%

Operations - 640
  Salaries                        5,260,296        13,154     5,273,450     2,951,975             0     2,321,475     44.0%      48.2%
  Other Expenses                    242,578       -24,639       217,939        87,354        43,311        87,274     40.0%      47.9%
  Supplies                          369,760         8,386       378,146       202,795        80,149        95,203     25.2%      26.9%
  Maintenance & Equipment            23,640             0        23,640         8,195        12,346         3,099     13.1%      16.4%
      Subtotal                    5,896,274        -3,099     5,893,175     3,250,319       135,806     2,507,050     42.5%      46.7%

Maintenance of Plant - 650
 Salaries                           633,611             0       633,611       301,503             0      332,108      52.4%      54.7%
 Other Expenses                   4,141,828        -3,176     4,138,652     1,496,868     2,595,577       46,206       1.1%       2.3%
 Supplies                           218,100         7,320       225,420       113,595        63,681       48,144      21.4%      25.2%
 Maintenance                      1,086,000             0     1,086,000       377,811       259,324      448,865      41.3%      12.4%
      Subtotal                    6,079,539         4,144     6,083,683     2,289,777     2,918,582      875,324      14.4%      10.0%

Transportation - 660              4,610,450            0      4,610,450     1,556,917     2,978,743       74,790      1.6%        0.5%

Student Body Activities - 675     1,766,814         1,500     1,768,314       561,009       327,895      879,410      49.7%      48.8%

FY 2010-11 TOTAL                131,191,499       290,492 131,481,991      52,919,439    10,263,778    68,298,774     51.9%      52.6%
           Active Board of Education Contracts $50,000 or greater expensed or encumbered
                to General Fund. Amounts includes all change orders through 12/31/10.

   DEPT                VENDOR NAME                AMOUNT                        DESCRIPTION


  600-68      Phocused on Learning               $    50,000   Consultant for TEPL (Todd White)


  675-48      J & R Tours                        $    50,000   Out of town athletic events/field trip backup

   660-
 55,90,44,    STA Bus*                           $ 4,180,357   Transportation of students to and from school
 53,56,66

  640-92      City Carting                       $    90,720   District garbage and recycling removal


  620-82      Techneeq LLC                       $   229,410   Create and maintain data dashboard


  620-53      Dr. Dennis Banks                   $    60,000   Psychiatric evaluations of SPED students

                                                               On site observations/assessments SPED
  620-53      Eileen F. Luddy & Assoc.           $    90,000   students interviews with parents/staff showing
                                                               hands on techniques for working with students
                                                               Provides special education support, speech,
  620-53      Abilis                             $   125,000   occupational and physical therapy for SPED
                                                               students

                                                               Constant RN attendance required by SPED
  620-53      Experienced Pediatric Nursing      $   161,595
                                                               student


  620-53      Norwalk Rehab.                     $   894,285   Physical and occupational therapy




* Includes service to independent schools charged to A926 TOG operating fund.
                             GREENWICH BOARD OF EDUCATION - GRANT ACCOUNTS
                                             December 2010

                                                                                                            YTD
                                                                            Budget       YTD Receipts
                                                                                                        Expenditures
          AMERICAN RECOVERY & REINVESTMENT ACT
E9650123 State Fiscal Stabilization Funds - Education State Grant       $     487,721    $    198,000   $    248,063
E03901   Educational Jobs Fund                                          $     199,890    $     10,000   $     14,547
                                Sub-Total ARRA                          $     687,611    $    208,000   $    262,610


          ENTITLEMENTS
E86101    Consolidated Grant - Title I                                  $      432,572   $          -   $    105,389
E861011   Consolidated Grant - Title I Non-Public                       $        7,584   $          -   $      1,650
E861012   Consolidated Grant - Title I, Neglected                       $       12,172   $          -   $          -
E92401    Consolidated Grant - Title IIA Teachers                       $      166,786   $          -   $     69,273
E924011   Consolidated Grant - Title IIA Teachers - Non-Public          $       54,673   $          -   $          -
E92701    Consolidated Grant - Title III English Language Acquisition   $       95,939   $          -   $     27,214
E927011   Consolidate Grant - Title III Immigration & Youth Ed          $      170,522   $     14,000   $     13,355
E72001         g
          Bilingual Education                                           $         ,
                                                                                18,376   $       ,
                                                                                                6,100   $       ,
                                                                                                               4,943
E96201    Special Education Grant - IDEA 611                            $    2,017,830   $    321,622   $     25,372
E962011   Special Education Grant - IDEA 611 - Non-Public               $      144,875   $          -   $          -
E96301    Special Education Grant - IDEA 619 - Preschool                $       52,139   $      5,000   $          -
                             Sub-Total Entitlements                     $    3,173,468   $    346,722   $    247,195


          GRANTS
E90001    Carl D. Perkins Career and Technology Education               $      85,288    $     20,000   $     21,558
E91601    School Readiness - Severe Need                                $     107,000    $     42,000   $     44,583
                               Sub-Total Grants                         $     192,288    $     62,000   $     66,141


                               FY 2010-11 TOTAL                         $    4,053,367   $    616,722   $    575,946
GREENWICH BOARD OF EDUCATION
2010-11 Operating Statement July thru December

School Lunch                                                2010-2011       2010-2011           2010-2011       TOTAL           VARIANCE
                                                             Budget           YTD               Projected



Ordinary Expenses

      Personnel Services                                $   1,816,186   $     723,393       $   1,107,969   $   1,831,362   $      15,176
      Services Other Than Personnel                            28,300           8,197              25,803         34,000            5,700
      Supplies & Materials                                  1,568,000         536,518             912,251       1,448,769        -119,231
      Maintenance                                             101,512          69,494              32,018        101,512                0
      Fringe Benefits                                         338,358                   0         338,358        338,358                0
      Other                                                     2,000             998               1,130          2,128              128
              Total Ordinary Expenses                       3,854,356       1,338,600           2,417,529       3,756,129         (98,227)


Revenues

      School Lunch Cafeteria Receipts                   $   3,345,334   $   1,276,462       $   1,837,266   $   3,113,728   $    -231,606
      School Lunch Program Reimbursements                     474,508         238,974             304,744        543,718           69,210
      School Lunch Interest                                    12,000             846               1,554          2,400            -9,600
      School Lunch CLOC (Cash In Lieu of Commodities)         111,000          56,744              61,415        118,159            7,159
                        Total Revenues                      3,942,842       1,573,025           2,204,979       3,778,004        (164,838)


Net Revenues / (Expense)                                       88,486         234,426           (212,550)         21,876          (66,610)
                                                              FYE 2011 FORECAST ‐ "BURN RATE METHOD"

                                             FY 2008                FY 2009                FY 2010                FY 2011         ∆ 2011 to 2010
              July                   $       1,644,546.26   $       2,672,098.36   $       3,002,974.08   $       2,502,935.00   $        500,039.08
              August                 $       7,266,610.36   $       6,313,420.35   $       3,033,581.76   $       3,457,794.96   $      (424,213.20)
              September              $       8,755,737.98   $       9,317,711.42   $       9,627,014.05   $       9,823,054.41   $      (196,040.36)
              October                $     10,067,207.56    $     10,052,909.24    $       9,974,117.10   $     10,483,108.67    $      (508,991.57)
TOTAL  BOE 




              November               $       8,988,817.82   $       9,699,822.52   $       9,565,024.44   $     10,119,678.98    $      (554,654.54)
              December               $       9,488,244.18   $     10,063,125.08    $     13,684,437.54    $     15,553,883.76    $   (1,869,446.22)
              January                $     13,080,062.68    $     13,725,694.02    $       9,675,722.81   $     10,481,533.21    $      (805,810.40)
              February               $       9,603,121.22   $     10,683,119.66    $     10,392,836.36    $       9,952,018.21   $        440,818.15
              March                  $       9,571,188.56   $       9,688,710.23   $       9,959,833.40   $     10,302,907.49    $      (343,074.09)
              April                  $       9,411,275.21   $       9,752,993.08   $       9,790,327.18   $     10,289,581.36    $      (499,254.18)
              May                    $       9,057,052.79   $       9,297,359.39   $       9,809,223.84   $       9,978,540.64   $      (169,316.80)
              June                   $     19,278,707.34    $     20,832,847.42    $     23,556,151.63    $     23,435,558.13    $        120,593.50
                                     $  116,212,571.96      $  122,099,810.77      $  122,071,244.19      $  126,380,594.82      $  (4,309,350.63)

              CAFR                      119,133,581.00 $   123,973,728.00 $   124,287,169.00
                                     $   
              ∆ = Encumbrances       $       2,921,009.04 $       1,873,917.23 $       2,215,924.81
              Average Enc                                   $2,336,950.36

              FYE Budget                121,802,487.00 $   127,462,207.00 $   128,048,551.00
                                     $   
              Variance               $       2,668,906.00 $       3,488,479.00 $       3,761,382.00
              % Variance of Budget            2.19%                2.74%                2.94%

                                                                                                             131,191,499.00 Orginal Budget
                                                                                                          $   
                                                                                                             131,481,991.00 YTD Revised Budget
                                                                                                          $   
                                                                                                          $  132,866,641.00 FYE EST Budget (Includes Excess Cost)

                                                                                                             126,380,594.82 Projected Expenses
                                                                                                          $   
                                                                                                               $2,336,950.36 Projected Ecumbrances
                                                                                                           $128,717,545.18 Projected FYE Estimate

                                                                                                          $       4,149,095.82 Variance to FYE Budget
                                                                                                                   3.12%       % Variance of Budget
                                             FY 2008                FY 2009                 FY 2010                 FY 2011         ∆ 2011 to 2010                                                          FY 2008                  FY 2009                  FY 2010                FY 2011          ∆ 2011 to 2010
                          July        $        130,670.49   $          242,523.36   $          267,839.21   $          263,523.45   $            4,315.76                                 July        $                    ‐   $                    ‐   $      421,826.77     $          38,519.50    $    383,307.27
                          August      $        344,058.86   $          233,409.52   $          189,381.83   $          276,480.25   $        (87,098.42)                                  August      $                    ‐   $                    ‐   $      421,905.55     $        342,383.52     $      79,522.03
                          September   $        245,391.83   $          360,053.42   $          271,653.85   $          292,848.50   $        (21,194.65)                                  September   $                    ‐   $                    ‐   $      492,953.94     $        390,879.10     $    102,074.84




                                                                                                                                                            650 BOE PLANT MAINT
                          October     $        346,515.69   $          329,701.74   $          291,098.04   $          273,191.44   $         17,906.60                                   October     $                    ‐   $                    ‐   $      411,463.93     $        469,826.74     $     (58,362.81)
600 BOE ADMIN




                          November    $        333,863.99   $          413,792.77   $          282,473.05   $          358,572.92   $        (76,099.87)                                  November    $                    ‐   $                    ‐   $      295,399.95     $        414,506.94     $   (119,106.99)
                          December    $        329,871.88   $          301,092.87   $          386,658.67   $          461,563.96   $        (74,905.29)                                  December    $                    ‐   $                    ‐   $      404,860.76     $        633,661.00     $   (228,800.24)
                          January     $        392,217.59   $          495,940.45   $          317,006.72   $          321,030.09   $          (4,023.37)                                 January     $                    ‐   $                    ‐   $      676,037.15     $        450,251.46     $    225,785.69
                          February    $        239,668.10   $          298,326.88   $          315,201.20   $          321,030.09   $          (5,828.89)                                 February    $                    ‐   $                    ‐   $      390,238.62     $        450,251.46     $     (60,012.84)
                          March       $        241,615.37   $          308,628.21   $          308,552.11   $          321,030.09   $        (12,477.98)                                  March       $                    ‐   $                    ‐   $      501,771.05     $        450,251.46     $      51,519.59
                          April       $        578,603.45   $          318,258.37   $          353,378.72   $          321,030.09   $         32,348.63                                   April       $                    ‐   $                    ‐   $      432,265.80     $        450,251.46     $     (17,985.66)
                          May         $        273,513.80   $          315,081.28   $          252,988.71   $          321,030.09   $        (68,041.38)                                  May         $                    ‐   $                    ‐   $      384,150.05     $        450,251.46     $     (66,101.41)
                          June        $        451,730.04   $          363,499.98   $          581,197.68   $          561,802.65   $         19,395.03                                   June        $                    ‐   $                    ‐   $      481,967.15     $        450,251.46     $      31,715.69
                                      $    3,907,721.09            3,980,308.85
                                                            $                              3,817,429.79
                                                                                    $                       $      4,093,133.61     $      (275,703.82)                                               $                    ‐   $                    ‐   $  5,314,840.72       $    4,991,285.56       $    323,555.16

                                             FY 2008                FY 2009                 FY 2010                 FY 2011         ∆ 2011 to 2010                                                          FY 2008                  FY 2009                  FY 2010                FY 2011          ∆ 2011 to 2010
                          July        $     1,199,667.33    $       1,692,012.29    $       1,771,263.00    $       1,750,999.21    $         20,263.79                                   July        $          8,296.69      $          8,005.81      $          7,487.90   $            5,951.99            1,535.91
                                                                                                                                                                                                                                                                                                      $         
                          August      $     5,504,562.98    $       5,104,029.72    $       1,929,430.14    $       2,262,404.04    $      (332,973.90)                                   August      $      157,816.82        $          7,989.38      $          8,367.52   $          12,598.09    $       (4,230.57)




                                                                                                                                                            660 PUPIL TRANSPORTATION
                          September   $     7,410,957.81    $       7,918,381.00    $       8,255,632.38    $       8,522,392.75    $      (266,760.37)                                   September   $        66,818.68       $        16,824.85       $          9,773.09   $          36,335.44    $     (26,562.35)
620 BOE INSTRUCTION




                          October     $     8,285,368.53    $       8,485,771.49    $       8,039,499.12    $       8,837,867.76    $      (798,368.64)                                   October     $      425,127.84        $        61,741.10       $      627,205.95     $        227,669.05     $    399,536.90
                          November    $     7,286,039.61    $       7,719,813.18    $       7,983,097.99    $       8,225,229.05    $      (242,131.06)                                   November    $      413,492.84        $      584,813.82        $      398,879.29     $        469,738.53     $     (70,859.24)
                          December    $     7,812,359.27    $       8,272,580.79    $     11,699,955.30     $     12,758,776.93     $   (1,058,821.63)                                    December    $      366,593.32        $      536,103.64        $      361,839.37     $        804,624.18     $   (442,784.81)
                          January     $   
                                         11,168,336.18      $     11,854,611.74     $       8,030,203.73    $       8,528,496.52    $      (498,292.79)                                   January     $      284,577.80        $        84,834.40       $        20,441.53    $        500,677.25     $   (480,235.72)
                          February    $     7,929,240.36    $       8,207,379.77    $       8,422,867.64    $       8,528,496.52    $      (105,628.88)                                   February    $      401,774.96        $      854,112.16        $      698,621.59     $          24,466.77    $    674,154.83
                          March       $     7,673,891.15    $       7,898,358.57    $       8,137,509.01    $       8,528,496.52    $      (390,987.51)                                   March       $      341,070.47        $      347,208.88        $      278,068.56     $        348,703.79     $     (70,635.23)
                          April       $     7,547,739.51    $       8,065,900.50    $       8,147,835.52    $       8,528,496.52    $      (380,661.00)                                   April       $      357,649.70        $      429,223.21        $      318,183.09     $        348,703.79     $     (30,520.70)
                          May         $     7,664,150.91    $       7,957,103.86    $       8,537,018.06    $       8,528,496.52    $            8,521.54                                 May         $      332,669.93        $        30,427.03       $        30,017.24    $          31,000.00               (982.76)
                                                                                                                                                                                                                                                                                                      $           
                          June        $   
                                         16,529,973.46      $     17,690,530.72     $     20,404,526.96     $     20,297,821.72     $       106,705.24                                    June        $      437,603.47        $  1,040,729.58          $  1,203,705.51       $     1,178,000.00      $      25,705.51
                                      $  96,012,287.10      $  100,866,473.63       $  101,358,838.85       $  105,297,974.06       $  (3,939,135.21)                                                 $  3,593,492.52          $  4,002,013.86          $  3,962,590.64       $    3,988,468.88       $     (25,878.24)

                                             FY 2008                FY 2009                 FY 2010                 FY 2011         ∆ 2011 to 2010                                                          FY 2008                  FY 2009                  FY 2010                FY 2011          ∆ 2011 to 2010
                          July        $        297,035.45   $          715,709.95   $          516,606.65   $          427,573.84   $         89,032.81                                   July        $          8,876.30      $        13,846.95       $        17,950.55    $          16,367.01             1,583.54
                                                                                                                                                                                                                                                                                                      $         

                                                                                                                                                            675 STUDENT BODY ACTIVITIES
                          August      $     1,239,645.36    $          948,436.72   $          470,048.88   $          547,576.91   $        (77,528.03)                                  August      $        20,526.34       $        19,555.01       $        14,447.84    $          16,352.15    $       (1,904.31)
640 BOE PLANT OPERATION




                          September   $        993,510.23   $          982,511.79   $          557,625.46   $          524,876.42   $         32,749.04                                   September   $        39,059.43       $        39,940.36       $        39,375.33    $          55,722.20    $     (16,346.87)
                          October     $        855,886.79   $       1,010,177.98    $          437,134.52   $          485,013.62   $        (47,879.10)                                  October     $      154,308.71        $      165,516.93        $      167,715.54     $        189,540.06     $     (21,824.52)
                          November    $        799,632.85   $          800,302.93   $          419,663.74   $          455,053.57   $        (35,389.83)                                  November    $      155,788.53        $      181,099.82        $      185,510.42     $        196,577.97     $     (11,067.55)
                          December    $        890,594.65   $          850,734.63   $          691,230.51   $          808,807.69   $      (117,577.18)                                   December    $        88,825.06       $      102,613.15        $      139,892.93     $          86,450.00    $      53,442.93
                          January     $     1,058,043.75    $       1,118,233.80    $          449,794.17   $          488,018.87   $        (38,224.70)                                  January     $      176,887.36        $      172,073.63        $      182,239.51     $        193,059.02     $     (10,819.51)
                          February    $        836,012.89   $       1,142,713.81    $          481,703.53   $          488,018.87   $          (6,315.34)                                 February    $      196,424.91        $      180,587.04        $        84,203.78    $        139,754.51     $     (55,550.73)
                          March       $     1,190,197.29    $       1,020,095.00    $          525,725.59   $          488,018.87   $         37,706.72                                   March       $      124,414.28        $      114,419.57        $      208,207.08     $        166,406.76     $      41,800.32
                          April       $        861,470.13   $          884,103.87   $          440,809.29   $          488,018.87   $        (47,209.58)                                  April       $        65,812.42       $        55,507.13       $        97,854.76    $        153,080.63     $     (55,225.87)
                          May         $        642,934.13   $          783,216.32   $          429,601.80   $          488,018.87   $        (58,417.07)                                  May         $      143,784.02        $      211,530.90        $      175,447.98     $        159,743.70     $      15,704.28
                          June        $     1,624,440.94    $       1,495,999.29    $          644,706.50   $          732,028.31   $        (87,321.81)                                  June        $      234,959.43        $      242,087.85        $      240,047.83     $        215,653.99     $      24,393.84
                                      $  11,289,404.46      $    11,752,236.09             6,064,650.64
                                                                                    $                       $      6,421,024.72     $      (356,374.08)                                               $  1,409,666.79          $  1,498,778.34          $  1,552,893.55       $    1,588,708.00       $     (35,814.45)
                       FISCAL YEAR 2010-2011 FORECAST
                             “LINE ITEM METHOD”


Data Range
This forecast uses year-to-date (YTD) expenses through 12/31/10.


Forecast Methodology
The budget can be grouped in six (6) categories called major object codes (MOC). The
forecast is based on reviewing the spending patterns within the MOCs, where
appropriate MOCs are subdivided to refine the forecast.


Major Object Codes (MOC) Definitions
100 Personal Services. Funds to pay certified and non-certified personnel, including
      substitutes. Also provides funds for consultants,

200   Services Other than Personal. Funds to cover cost of printing, postage, tuition
      payments for employees, travel and mileage allowance, transportation, rental of
      equipment, and utilities.

300   Supplies and Materials. Funds to purchase office supplies and equipment,
      teaching supplies and equipment, textbooks, library books, audio visual materials
      and equipment, medical, and building custodial supplies and equipment.

400   Maintenance. Funds to purchase services for repair and maintenance of District’s
      buildings and equipment.

600   Insurance. Funds for purchase of school sports accident insurance.

700   Settlement of Claims and Judgments


MOC 100 Personal Services
The following table shows MOC 100 only the salary accounts (51010, 51020, 51980,
51990). For forecasting purpose, these accounts are reviewed independently:

             Original Budget:      $   99,493,328.00
             Revised Budget:       $   99,559,714.00
             YTD Actual:           $   39,859,407.97
             YTD Encumbrance:      $            0.00
             YTD Total:            $   39,859,407.97
             FYE Forecast:         $   99,925,991.11
             Budget Savings:       $     (366,277.11)
             Savings % of Budget          -0.37%

                                           1 
 
Assumptions: Forecast is based on current FTE count and projected salary for fiscal
year. The over budget forecast of $366,277 can be explained by the additional 11.3
positions that were not budgeted and longevity and annuity expenses included in
forecast, however budgeted in other accounts (see immediate next section for futher
detail). Given the size of the salary budget and the various staffing changes, the
forecast to budget is extremely close.

The following table shows MOC 100 NET of salary accounts and one (1) Special
Education account. For forecasting purpose, these sub-groups are reviewed separately:

              Original Budget:       $ 10,771,188.00
              Revised Budget:        $ 10,942,802.05
              YTD Actual:            $ 4,540,257.02
              YTD Encumbrance:       $    495,784.12
              YTD Total:             $ 5,036,041.14
              FYE Forecast:          $ 9,354,709.74
              Budget Savings:        $ 1,588,092.31
              Savings % of Budget        14.51%

Assumptions: Forecast is based on year-to-date expenses and considering average of
prior two (2) years of expenditures. While, currently projecting a $1,588,092 budget
savings, the budget savings are attributed to a few line items:

    •   Long Term Sub (A620-17-93-51050) is forecasted to have a budget savings of
        $207,846. This is based on year-to-date calculated per diem multiplied by
        remaining number of school days.

    •   Payment for Temporary Service (A620-17-93-51310) is forecasted to have a
        budget savings of $46,402. This is based on year-to-date calculated per diem
        multiplied by remaining number of school days. However generally absences
        tend to increase later in school year. Depending on trend this may erode the
        budget savings.

    •   Other Salary Expense (51070) budgets for longevity and annuity payments.
        However the expense is included in the salary accounts for certified staff
        (51020), this one object code accounts for $807,905 in budget savings.

    •   Overtime for Facilities department is forecasted to not to exceed $285,000. Sick
        leave cash outs for retiring employees are forecasted not to exceed $330,000
        budget. Any variance in these accounts can have significant impact on fiscal year
        end forecast.




                                            2 
 
MOC 200 Services Other than Personal
The following table shows MOC 200 NET of utilities, special education, and
transportation line items. For forecasting purpose, these sub-groups are reviewed
separately:

             Original Budget:        $   3,547,735.00
             Revised Budget:         $   3,733,450.13
             YTD Actual:             $   1,751,715.07
             YTD Encumbrance:        $     803,105.58
             YTD Total:              $   2,554,820.65
             FYE Forecast:           $   3,494,852.29
             Budget Savings:         $     238,597.84
             Savings % of Budget            6.39%

Assumptions: Forecast based on year-to-date expenses and considering average of
prior two (2) years of expenditures. While, currently projecting $238,597.84 budget
savings, the amount could change due to budget transfers to supply accounts.


Utilities
There are four (4) major accounts for utilities: Water (A650-17-89-52210), Electric
(A650-17-17-89-52220), Natural Gas (A650-17-89-52261) and Heating Oil (A650-17-89-
52262):

             Original Budget:            $ 3,800,356.00
             Revised Budget:             $ 3,798,464.35
             YTD Actual:                 $ 1,283,680.17
             YTD Encumbrance:            $ 2,506,959.83
             YTD Total:                  $ 3,790,640.00
             FYE Forecast:               $ 3,790,640.00
             Budget Savings:             $     7,824.35
             Savings % of Budget              0.21%

Assumptions: Forecast is based on Facilities Department encumbrances. Currently,
Business Offices is in final stages of creating forecast using year-to-date expenses and
projecting cost based on prior year commodity consumption adjusted for current
commodity rate. Once complete will update the forecast.




                                             3 
 
Special Education
There are three (3) accounts that the majority of special education costs are charged to:
Professional Medical & Dental (A620-17-53-51420), Tuition Payments – Public Schools
(A620-17-53-52080) and Transportation of Pupils – Emo (A660-17-53-52140):

             Original Budget:         $ 5,116,391.00
             Projected Budget:        $ 6,352,767.18
             YTD Actual:              $ 2,281,144.79
             YTD Encumbrance:         $ 3,472,394.28
             YTD Total:               $ 5,753,539.07
             FYE Forecast:            $ 6,352,767.18
             Budget Savings:          $         0.00
             Savings % of Budget           0.00%

Assumptions: Forecast is based on receiving State revenue for special education
excess cost of $1,384,650. Since the BOE budgets net expenditures the revenue will
increase the original budget to offset increase in expenditures. Currently, Pupil
Personnel Serviced Department is in process of review expenditures per student to
create a more detailed forecast. Once received will update the forecast.


Transportation
There are three (3) major transportation accounts (excluding special education cost)
that are monitored throughout the school year: Alternative High School (A660-17-56-
52140), Preschool (A660-17-66-52140) and District (A660-17-90-52120):

             Original Budget:         $ 2,676,152.00
             Revised Budget:          $ 2,676,152.00
             YTD Actual:              $ 817,855.97
             YTD Encumbrance:         $ 1,858,292.65
             YTD Total:               $ 2,676,148.62
             FYE Forecast:            $ 2,676,152.00
             Budget Savings:          $          0.00
             Savings % of Budget           0.00%

Assumptions: Forecast is based yearly encumbrance for transportation services.




                                            4 
 
MOC 300      Supplies and Materials

             Original Budget:         $ 4,009,605.00
             Revised Budget:          $ 4,024,814.53
             YTD Actual:              $ 1,831,210.33
             YTD Encumbrance:         $ 711,251.85
             YTD Total:               $ 2,542,462.18
             FYE Forecast:            $ 3,931,038.50
             Budget Savings:          $    93,776.06
             Savings % of Budget           2.33%

Assumptions: Forecast based on year-to-date expenses and considering average of
prior two (2) years of expenditures. Also assumes budget will be 100% spent for
teaching supplies (53100), classroom/teaching equipment (53101), textbooks (53110),
Library Books (53120), periodicals and newspapers (53130), audio visual materials
(53140), and audio visual equipment (53141).


MOC 400      Maintenance

             Original Budget:         $ 1,525,088.00
             Revised Budget:          $ 1,526,820.32
             YTD Actual:              $ 543,221.23
             YTD Encumbrance:         $ 353,698.36
             YTD Total:               $ 869,919.59
             FYE Forecast:            $ 1,479,091.05
             Budget Savings:          $    47,729.27
             Savings % of Budget           3.13%

Assumptions: Forecast based on year-to-date expenses and considering average of
prior two (2) years of expenditures. Maintenance budget lines can fluctuate depending
on budget position of District as well as need of repair and maintenance.


MOC 600      Insurance

             Original Budget:         $ 1,656.00
             Revised Budget:          $ 1,656.00
             YTD Actual:              $ 1,500.00
             YTD Encumbrance:         $     0.00
             YTD Total:               $ 1,500.00
             FYE Forecast:            $ 1,500.00
             Budget Savings:          $ 156.00
             Savings % of Budget           9.42%

Assumptions: Forecast based on year-to-date expenses.
                                          5 
 
MOC 700        Settlement of Claims and Judgments

               Original Budget:      $ 250,000.00
               Revised Budget:       $ 250,000.00
               YTD Actual:           $ 2,636.00
               YTD Encumbrance:      $     494.00
               YTD Total:            $ 3,130.00
               FYE Forecast:         $ 172,000.00
               Budget Savings:       $ 78,000.00
               Savings % of Budget       31.20%

Assumptions: Forecast based on average of prior two (2) year of history. Based on the
nature of the claims there is some fluctuations inherit within the budget accounts.


History of Fund Balance
The past three (3) fiscal years the Board of Education under spent the operating budget
an average of $3.1 million per year or 2.49% of operating budget. The following table
shows the past six (6) fiscal years:

                                                   Revised       Variance %
                 Variance      ARRA Offset
                                                   Variance      of Budget
    FYE 2005    $ 1,591,560   $0                 $ 1,591,560       1.48%
    FYE 2006    $ 1,623,511   $0                 $ 1,623,511       1.44%
    FYE 2007    $ 3,115,821   $0                 $ 3,115,821       2.67%
    FYE 2008    $ 2,668,906   $0                 $ 2,668,906       2.19%
    FYE 2009    $ 3,488,479   $0                 $ 3,488,479       2.74%
    FYE 2010    $ 3,761,381   $ 487,721          $ 3,273,660       2.56%

                              6-Year Mean        $ 2,626,990        2.18%
                              3-Year Mean        $ 3,143,682        2.49%

                              6-Year Median      $ 2,892,364        2.37%
                              3-Year Median      $ 3,273,660        2.56%




                                           6 
 
FY 2010-2011 Projected Fund Balance
Based on the above major object code forecast the current fiscal year fund balance
projected to be $1,687,899 or 1.27% of revised operating budget.

             Original Budget:        $ 131,191,499.00
             Projected Budget:       $ 132,866,640.56
             YTD Actual:             $ 52,912,628.55
             YTD Encumbrance:        $ 10,201,980.67
             YTD Total:              $ 63,114,609.22
             FYE Forecast:           $ 131,178,741.87
             Budget Savings:         $ 1,687,898.69
             Savings % of Budget           1.27%




                                           7 
 

				
DOCUMENT INFO
Shared By:
Categories:
Tags:
Stats:
views:3
posted:2/22/2013
language:English
pages:18