1. Greater Johnstown School District Budget and Finance Committee 1/14/16
7/1/2018

2. Budget Committee Meetings
Overview
 1) Overview - Forecast, model, timeline, procedures, etc.
 2) Revenue- sources, fixed, controllable
 3) Staffing and salary schedules
 4) Expenditures - non salary related, materials and resources, technology, etc.
 5) Proposal Final Budget
 6) Final Budget
7/1/2018

3. Fund Accounting
A fund is a distinct accounting entity with self balancing set of accounts
3 Types of Funds (Governmental, Proprietary and Fiduicary)
Each fund has a separate trial balance (conceptually – separate business)
7/1/2018

4. Governmental Funds General Fund (10)
Principal operating fund of the Governmental Entity
Athletic Fund
Only if there is a dedicated stream of revenue to substantially fund the sports program (50%)
Capital Project Fund (30)
Account for resources that are limited to expenditures for capital outlays
Debt Service Fund (40)
Accumulates resources for payment of long term debt principal and interest
7/1/2018

5. Other Funds Proprietary Funds Operates like a business Net income
Example – Cafeteria Fund
Fiduciary Funds
Used for assets held in agency capacity
Example – Chinese program
7/1/2018

6. Budget Basics Public School Code of 1949
Legal requirements
Public School Code of 1949
Must adopt a budget prior to June 30
Must adopt a proposed budget and publically advertise, hold open for public view for 30 days prior to final adoption
Must adopt a preliminary budget by January 30th unless school district enacts resolution not to raise taxes over the Act 1 index
7/1/2018

7. Budget Handbook Developing School Budgets Revenues Expenses
Fund Balance
Budget is key to decision making
Plan for rational distribution of resources
Primary vehicle for setting fiscal and program policy
Means for establishing objectives
7/1/2018

8. Budget Account Structure
Budget Handbook
Budget Account Structure
Fund XX
In all cases this will be “10”
Function
XXXX
Is the functional area of expense
Object
XXX
Account code, type of expense
Funding Source
Is always 000 unless assigned by Bus. Office
Level
Elementary or secondary grade level
Location
Building or Responsible Unit
Designation
Special Designations
7/1/2018

9. Purchasing
7/1/2018

10. Quotes
7/1/2018

11. Bids
7/1/2018

12. RFP’s
Budget Handbook
7/1/2018

13. State Contracts
7/1/2018

14. Cash Management Cash handling
Set up one cash point (no matter the event) with at least two people
2. Create a paper (paperless even better when possible!) trail for every transaction
a. Provide a receipt to each person who pays the organization
b. Reconcile cash collected to receipts before leave the event and note the amounts
c. Have both people sign and date the reconciliation
3. Deposit immediately (or the next morning at the latest)
4. Get bonding insurance
5. Do not
Ever take IOUs
Ever mingle personal or school cash with club cash
Ever provide a loan to the group
7/1/2018

15. Forecast
7/1/2018

16. Greater Johnstown School District
Budget vs. Actual
Greater Johnstown School District
Budget
For the Years Ended
Actual
Variance
7/1/2014
Build #
Revenue
6/30/2015
Local Sources
9,993,205.61
11,306,289.00
11.61%
State Sources
26,471,177.15
26,487,311.00
0.06%
Federal Sources
4,244,473.57
4,396,648.00
3.46%
Other
125,000.00
151,307.00
17.39%
Revenues
40,833,856.33
42,341,555.00
3.56%
Bond Refinance
5,700,000.00
100.00%
Total Revenues
48,041,555.00
Expenses 00
District Wide
8,643,301.59
7,995,007.00
-8.11% 11
School Board
148,691.42
180,004.00
17.40% 12
Superintendent
726,851.48
625,187.00
-16.26% 13
Maintenance
2,232,044.31
1,953,988.00
-14.23% 19
Business Office
726,303.42
733,479.00
0.98% 22
Technology
898,934.00
720,903.00
-24.70% 17
Federal Programs
4,548,682.85
4,253,997.00
-6.93% 18
Special Education
6,744,457.77
6,267,454.00
-7.61% 23
Eastside Elementary
3,595,078.99
3,650,142.00
1.51% 25
Westside Elementary
3,730,750.54
4,010,418.00
6.97% 51
Middle School
4,358,662.13
3,964,615.00
-9.94% 81
High School
6,224,141.73
6,947,678.00
10.41% 82
Athletics
823,694.21
742,706.00
-10.90% 21
Safety
306,914.95
240,728.00
-27.49% 20
Alternative/Cyber
3,068,897.03
3,245,059.00
5.43% 40
Materials and Resources
399,900.00
302,929.00
-32.01%
47,177,306.42
45,834,294.00
-2.93%
Total Expense
51,534,294.00
Budget surplus (short fall)
-6,343,450.09
-3,492,739.00
Fund Balance
9,754,345.00
6,261,606.00
7/1/2018

17. Introduction to Revenues
3 Sources
Local
State
Federal
7/1/2018

18. Introduction to Revenues
Local Revenue
Current Real Estate Tax (6111)
Represents the largest portion of the local revenue
Assessment from County Assessment Office
Milage Rate limited by index
Interim Real Estate Tax (6112)
Public Utility Tax (6113)
Earned Income Tax (6151)
Real Estate Tax (6153)
Other Act 511 Taxes (6143, 6157)
Delinquent Taxes (6411)
Investment Interest (6510)
7/1/2018