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									June 2010
FY 09/10 Year-End
 Financial Summary




         Saint Louis Public Schools
  June 2010 Monthly Financial Report
   FY09-10:
    Revenues                       $ 293.8 M
                   Actual revenues $1.9M below approved budget. Difference due to drop in
                   State (-2.8M) and Federal (-1.1M) revenues that was offset by an increase
                   in Local and State revenues (+2.0M).
      Expenditures                 $ 318.5 M
                   Actual expenditures $2.4M below approved budget. Difference primarily
                   due to decreased spend on benefits (-1.2M) and property services (-1.2M).
       Fund Subsidies              $    4.6 M
                   Actual subsides to General Fund 3.5M above approved budget. Difference
                   attributable to ECSE fund balance (+3.0M) originally budgeted in State
                   revenues and reduction of food service subsidy (+0.5M).
      Deficit Spend                $ 20.1 M
                   Deficit spending $4.0M lower than projected.

                                                                           Saint Louis Public Schools
8/6/2010 8:40 AM                                                  June 2010 Monthly Financial Report 2
    Amended Expenditure Budget: $321.0M
 Actual            Expenditures:                 $318.5M
                   ◦ Payroll Related:                     -1.6M
                   ◦ Professional/Property Services:      -0.7M
                   ◦ Transportation:                      -0.4M
                   ◦ Operating & Other Expenditures:      +0.3M
                                                          -2.4M


                                                       Saint Louis Public Schools
8/6/2010 8:40 AM                              June 2010 Monthly Financial Report 3
   (in thousands)                             Amended Budget        June YTD Budget
  July 1, 2009-Beginning Fund Balance          ($44,750)                   ($44,750)
                   REVENUE                      $295,738                    $293,802
                                 Local   ……… $203,775                        $205,722
                                 County ………     2,968                           3,025
                                 State   ……… 82,725                            79,944
                                 Federal ………    6,270                           5,111

                   EXPENDITURE                  $320,965                    $318,517
                                 Payroll ……… $216,047                         $214,470
                                 Non-Payroll …… 104,918                        104,106
                             Fund Subsidies      +1,144                         +4,660

         Net ADD/(DEPLETION) of Reserves        ($24,083)                   ($20,115)

  June 30, 2010-Ending Fund Balance            ($68,833)                   ($64,865)

                                                                   Saint Louis Public Schools
8/6/2010 8:40 AM                                          June 2010 Monthly Financial Report 4
   (in thousands)

             ALLOCATIONS/REVENUES                                       $134,539
                       Title I & NCLB……………….                               29,224
                       Stimulus (Title & SPED)………                          23,934
                       Food Service………………….                                13,769
                       Special Education ……………...                           7,706

             EXPENDITURES                                               $116,879
                       Title I & NCLB……………….                               22,396
                       Stimulus (Title & SPED)………                          16,466
                       Food Service………………….                               13,522
                       Special Education ……………...                          7,399

             Carry Forward (highlighted funds)                           $ 14,603

          * Total allocations/revenues and expenditures also include capital, debt, trust , and other
                                                                                       federal funds.

                                                                                Saint Louis Public Schools
8/6/2010 8:40 AM                                                       June 2010 Monthly Financial Report 5
 FY2010- 2011 Action Updates
        • Central Office non-staffing related reductions
        • 12-month school based employees shifted to 11-month
        • 5 furlough days set in school calendar
        • ERIP successful with 254 participants
        • Some of the major contracts renegotiated
        • Bond proceeds to cover GOB capital projects

                                                      Saint Louis Public Schools
8/6/2010 8:40 AM                             June 2010 Monthly Financial Report 6
Voter approval of Prop S; Next Steps:

      August – September
      • August 19   Select bond underwriting team (RFP)
      • September Determine business partner for QZAB
      • September 9 Select construction management team
      • Sept/Oct    Determine appropriate mix of federal
                    bond programs (i.e. QZAB, QSCB)



                                                Saint Louis Public Schools
8/6/2010 8:40 AM                       June 2010 Monthly Financial Report 7
Voter approval of Prop S; Next Steps (cont’d):

      October – December
      • October     Sell/Close bonds
      • October     Reimburse GOB/reduce deficit spend
      •December 9   Present capital projects/spend down
                    schedule to SAB




                                                Saint Louis Public Schools
8/6/2010 8:40 AM                       June 2010 Monthly Financial Report 8
                   Addendum




8/6/2010 8:40 AM   Saint Louis Public Schools   June 2010 Monthly Financial Report 9
GOB Unrestricted Fund Balance: June 2010 (in thousands)
      -

                                           (12,945)    (12,373)

 (15,000)


                                        (24,915)
 (30,000)                    (25,987)

                  (37,848)                               (44,750)
 (45,000)



 (60,000)
                                                                       (64,865)

 (75,000)
            FY 2004   FY 2005    FY 2006     FY 2007   FY 2008      FY 2009     FY 2010
                                                                              (unaudited)
                                                                                            10
 Amended Revenue Budget:                           $295.7M
 Actual Revenue:                                   $293.8M
                                               Variances


                   1.95M   .06M
                   Local     State    County          Federal
                   Local   County     State        Federal
                                     (2.78M)       (1.16M)




                                                         Saint Louis Public Schools
8/6/2010 8:40 AM                               June 2010 Monthly Financial Report 11

								
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