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STANTON COMMUNITY SCHOOL CERTIFIED ANNUAL REPORT FINANCIAL INFORMATION Fiscal Year 2012-2013 Shirley Maxwell, Business Manager Tammy Boyer, Board Secretary.

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Presentation on theme: "STANTON COMMUNITY SCHOOL CERTIFIED ANNUAL REPORT FINANCIAL INFORMATION Fiscal Year 2012-2013 Shirley Maxwell, Business Manager Tammy Boyer, Board Secretary."— Presentation transcript:

1 STANTON COMMUNITY SCHOOL CERTIFIED ANNUAL REPORT FINANCIAL INFORMATION Fiscal Year Shirley Maxwell, Business Manager Tammy Boyer, Board Secretary

2 ENROLLMENT INFORMATION Resident Students Served in District Students Open Enrolled Out Students Tuitioned Out 334 Certified Enrollment Open Enrolled In PK 4 Students In Preschool Total School Age Students Provided Instruction

3 Estimated Enrollment Resident Students Served in District Students Open Enrolled Out Students Tuitioned Out 333 Certified Enrollment Open Enrolled In PK 4 Students In Preschool Total School Age Students Provided Instruction

4 OPEN ENROLLMENT COMPARISONS

5 ENROLLMENT DATA

6 FUND CLASSIFICATIONS General Funds Special Revenue Funds Capital Projects Funds Debt Service Funds Trust and Agency Funds

7 GENERAL FUND Accounts for all financial resources of the district--EXCEPT those required to be accounted for in another fund.

8 GENERAL FUND Beginning Balance: $ 267,883 Revenue: $ 2,589,225 Expenditure: $ 2,499,822 Ending Balance: $ 357,286

9 General FundRevenue

10 EXPENDITURES GENERAL FUND

11 Total Expenditures Salaries & Benefits General Fund $1,895,971 $1,400,495 $495,476 76% Of total general fund expenditures go toward salaries & benefits

12 REVENUE/EXPENDITURES GENERAL FUND

13 UNSPENT BALANCE Actual Estimated FY08FY09FY10FY11FY12FY13FY14 Regular Program District Cost1,195,6591,153,5681,200,3211,176,6001,164,8341,080,1801,114,022 Regular Program Budget Adjustment45,22558,73328,28535,72423,53296,3020 Supplementary Weighting District Cost3,9047,9205,01867,92551,42342,93740,956 Special Ed District Cost131,672128,945141,604124,072166,489139,583149,597 Teacher Salary Supplement District Cost 122, ,690118,493112,645 Prof Dev Supplement District Cost 15,339 14,96814,81814,043 Early Intervention Suppl District Cost 11,826 11,61211,49611,027 AEA Special Ed Support59,53257,48060,09357,19458,54253,63255,559 AEA Special Ed Support Adjustment2,4154,4671,8544,7533,4058,3156,388 AEA Media Services9,7649,5219,8099,6309,5348,8409,116 AEA Educational Services10,72710,46210,77910,65210,5459,77810,083 AEA Sharing District Cost 1, AEA Teacher Salary Suppl District Cost 6,672 6,013 5,706 AEA Prof Dev Suppl District Cost Dropout Prevention Allowable Growth SBRC Allowable Growth Other # SBRC Allowable Growth Other # ,53229,65120,000 Special Ed Deficit Allowable Growth010,8233,03991,99012,24122,98132,000 Special Ed Positive Balance Reduction00000 AEA Special Ed Positive Balance00000 Allowance for Construction Projects00000 Unspent Allowance for Construction00000 Enrollment Audit Adjustment AEA Prorata Reduction6,8935,4336,0135,43314,719 12,066 Maximum District Cost1,452,0051,438,1921,612,7981,730,8791,662,2751,628,9341,569,679 Preschool Foundation Aid 0049,41735,29866,01136,726 Instructional Support Authority97,61996,42397,26495,04191,04193,41381,580 Ed Improvement Authority Other Miscellaneous Income663,283721,186682,698630,095602,710564,241585,241 Unspent Auth Budget - Previous Year1,084,3511,008,431856,864779,624823,274616,532469,309 GAAP Conversion Hold Harmless Maximum Authorized Budget3,297,2583,264,2323,249,6243,285,0563,214,5982,969,1312,742,535 Expenditures2,288,8272,407,3682,470,0002,461,7822,598,0662,499,8222,500,000 Unspent Authorized Budget1,008,431856,864779,624823,274616,532469,309242,535 Loss or Gain from previous year 151,56777,240-43,650206,742147,223226,774

14 CASH BALANCE V UNSPENT BALANCE $467,639

15 Management Fund This fund is created to deposit and expend money from a levy certified by the board of directors for the purpose of liability insurance, unemployment, early retirement incentives, and judgments. For the year this generated approximately $55,403.

16 MANAGEMENT FUND Beginning Balance: $161,836 Beginning Balance: $161,836 REVENUE: $ 55,403 REVENUE: $ 55,403 EXPENDITURES: $ 88,804 EXPENDITURES: $ 88,804 Ending Balance: $128,436 Ending Balance: $128,436 INSURANCE INSURANCE WORKERS COMPENSATION WORKERS COMPENSATION UNEMPLOYMENT UNEMPLOYMENT EARLY RETIREMENT/IF OVER 55 YRS EARLY RETIREMENT/IF OVER 55 YRS

17 CAPITAL PROJECTS FUND Funds used to account for financial resources to be used for the acquisition or construction of major capital facilities other than those financed by proprietary funds and trust funds. EX: Local Option Sales Tax, Penny Tax EX: Local Option Sales Tax, Penny Tax Silo Tax, SAVE Silo Tax, SAVE

18 CAPITAL PROJECTS LOCAL OPTION SALES TAX SAVE BEGINNING BALANCE $142,685 Tax Revenue $152,597 Tax Revenue $152,597 Interest $ 175 Interest $ 175 TOTAL REVENUE/YEAR $ 152,772 EXPENDITURES $ 100,381 FUND ENDING BALANCE 6/30 $195,077

19 PHYSICAL PLANT AND EQUIPMENT LEVY FUND (PPEL) A fund created to deposit and expend money from a levy certified by the board of directors and/or a voter-approved levy. The voter-approved levy may be all property tax or a combination of property tax and income surtax. The PPEL fund is a special revenue fund limited to expenditures for facilities, grounds, and certain equipment.

20 FACILITIES, ACQUISITIONS, CONSTRUCTION, DEBT SERVICE PPEL PPEL Beginning Balance $ 72,308 Beginning Balance $ 72,308 Revenue $ 24,425 Revenue $ 24,425 Expenditure $ 78,483 Expenditure $ 78,483 Difference $ (54,058) Difference $ (54,058) Ending Balance $ 18,249 Ending Balance $ 18,249

21 PROPRIETARY FUNDS Funds which account for operations that are financed and operated in a manner similar to private business enterprises. The intent of the entity is that the costs of providing the goods or services be financed primarily through user charges or where periodic determination of revenues, expense and net income is appropriate. Ex: Hot Lunch Fund Ex: Hot Lunch Fund

22 ENTERPRISE FUNDS Hot Lunch Hot LunchBeginning Balance July 1, 2012 $ 50,161 Revenue $ 101,930 Expenditure $ 112,801 Ending Balance June 30, 2013 $ 39,290

23 Special Education Program 24 resident students were enrolled in the special education program 24 resident students were enrolled in the special education program We have 2 special education teachers and 5 paraprofessionals in this program. We have 2 special education teachers and 5 paraprofessionals in this program.

24 Receipts: Dollars generated by special education students as prescribed by Chapter 257 and 256B (Resident Students Only). No. of Students 2011Count Full Time (1) No. of Students 20011Count Part Time (2) Weighting of Students (3) Receipts for 1.0$ (col.1 + col.2) x District Cost Per Pupil(4741) (4) Receipts for Additional Weighted $ Col 3 x DCPP(4741) (5) Total Col 4 + Col 5 (6) Level I $90,015$64,811$154,826 Level II $24,004$25,444$49,448 Level III $18,003$49,328$67,331 Totals Generated $132,022$139,583$271, Carryovr Total Rec 6 $271,605

25 TUITION-IN STUDENTS Open enrolled students Open enrolled students Tuition Dollars received: $66,345

26 CONTRACTED EXPENDITURES CONTRACTED EXPENDITURES 6 students were served out of our district 6 students were served out of our district 2 open enrolled out student 2 open enrolled out student 1 foster student living out of the district 1 foster student living out of the district 3 students requiring programs not available in our 3 students requiring programs not available in ourdistrict $90,531 Paid to other districts for special education services. $90,531 Paid to other districts for special education services.

27 SPECIAL EDUCATION REVIEW WEIGHTINGS TOTAL RECEIPTS $154,826 $49,448 $67,331 $271,605 Tuition In $ 45,808 $ 20,537 0 $ 66,345 Tuition In $ 45,808 $ 20,537 0 $ 66,345 Part B Funds $ 8,865 $ 0 $ 0 $ 8,865 Part B Funds $ 8,865 $ 0 $ 0 $ 8,865 Teacher Quality $ 8,167 $ 0 $ 0 $ 8,167 Teacher Quality $ 8,167 $ 0 $ 0 $ 8, EXPENSES $207,045 $ 91,141 $ 79,777 $377,964 DIFFERENCE $ 10,621 $ (21,156) $(12,445) $(22,982)

28 ACTIVITY FUND Often referred to as student activity fund. This fund is created to deposit and expend money related to district sponsored and supervised co-curricular activities for students. No taxes are levied for this fund. All money is student driven. Examples: Athletics, drama, science, elementary fund, FFA, music boosters,

29 ACTIVITY FUND BEGINNING BALANCE: $ 95,582 Revenue: $ 92,409 Revenue: $ 92,409 Expenditure: $ 95,576 Expenditure: $ 95,576 ENDING BALANCE: $ 92,415

30 TRUST FUNDS Funds used to account for assets held in a trustee capacity by the district. Examples of these funds are our scholarship funds. These funds can only be used for the purpose they are designated for.

31 FINANCIAL SOLVENCY RATIO Unreserved, Undesignated General Fund Balance Actual Revenues Actual Revenues

32 SOLVENCY RATIO ACCEPTABLE SOLVENCY POSITION 0 TO 4.99% ACCEPTABLE SOLVENCY POSITION 0 TO 4.99% TARGET SOLVENCY POSITION 5 TO 10% TARGET SOLVENCY POSITION 5 TO 10% SOLVENCY ALERT -3 TO 0% SOLVENCY ALERT -3 TO 0% SOLVENCY CONCERN SOLVENCY CONCERN -3% & LOWER -3% & LOWER 9.95%

33 Audit Comments  Segregation of Duties  Excessive negative balance in hot lunch funds  Scholarship expenditures (FFA and NHS)  Outstanding checks over a year old (Food and Nutrition)  National Honor Society fundraiser to purchase library books would have been better in the general fund

34 YEAR IS BALANCED AND CLOSED --NOW ON TO THE YEAR 2014


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