1. Presentation to the Special Administrative Board
General Operating Budget Audited Results & nd Quarter Financial Update
Presentation to the Special Administrative Board
Angie Banks, Chief Financial Officer
Good afternoon, I will be reviewing the July 1 through September 30 results for the general operating funds.
February 11, 2016

2. Budget Objectives Establish Full Accreditation
Align resources to support the District’s Transformation Plan Objectives
Operate a system of excellent school options for all students
Cultivate and sustain transformational teachers & leaders
All students read their way to college & career success
Partnerships support the whole child
Build financial stability with 10% fund balance target per board policy
Reinforce a culture of high expectations and accountability
The budget objectives are to move the District academically and financially in a positive direction including full accreditation, alignment with the transformation plan, financial stability, and a culture of high standards
St. Louis Public Schools
2/18/2019

3. Financial Results
The first column is our fy amended budget indicating a 7m deficit for the year and an ending GOB fund balance of 20m. The audit is nearing completion and we are still on target to achieve more favorable results. The 2nd column is last year’s 1st quarter results for comparison. The 3 column is our FY budget indicating 1.4m deficit which would decrease our GOB ending fund balance. Our 1st quarter results in blue are right on target as is expected so early in the year. A few items that may stand out quarter1 over quarter1 have comments in the far right. Specifically, why is local revenue $1.5m higher this year versus last? Well, we sold Lafayette school (750k) and had some KIPP reimbursements (363k) this quarter, none during last year’s 1st quarter. State revenue is up slightly due to being funded by the state at 100% this year versus 97% last year, but that will equalize over the year because we are down overall. Payroll related costs (salaries, temporary/overtime, and benefits categories) are lower because we started school 1 week later than last year. And just as a note, there will be some substitutes and temporary staff receiving benefits under provisions of the affordable care act.
2/18/2019

4. FY2015-16 GOB Year-End Projection
FY FY FY
Audited Budget QTR2 Projection
Revenues $293.7M $285.6M $285.6M
Expenditures $299.8M $287.0M $287.0M
Surplus/(Deficit) ($6.1M) ($1.4M) ($1.4M)
Ending Fund $20.8M $19.4M $19.4M
Balance
This is just a summary of the prior slide with the addition of the fy projection. No changes versus the budget at this point in time.
St. Louis Public Schools
2/18/2019

5. FY2015-16 Considerations Risks Opportunities Repairs & Maintenance
Health Benefits
Tax Revenue
Building Sales
Staffing/Vacancies
We do have concerns about the adequacy of the $1.4m repairs and maintenance budget but think we can offset any approved increases with additional revenue and potential staffing opportunities.
Risks
Opportunities
St. Louis Public Schools
2/18/2019

6. Questions?
St. Louis Public Schools
2/18/2019