1. Barbour County Board of Education
January 14th, 2019 Board Meeting
Financial Reports

2. December FY 2018-2019 Payroll Register
Payroll for December FY
SFund
SFund TOTAL
Source of Funds
#1110
$ ,824.91
Foundation
#1220
$ ,564.07
School Nurse
#1221
$ ,668.95
Technology Coordinator State Funds
#1230
$ ,351.39
ARI
#1310
$ ,077.51
Transportation
#1720
$ ,483.18
OSR
#2241
$ ,160.37
Catastrophic Fund
#3210
$ ,008.40
IDEA Special Education
#3213
$ ,405.96
High Cost Grant
#4110
$ ,155.87
Title I, Part A
#5101
$ ,002.02
Child Nutrition
#6001
$ ,552.23
Local Fund
Total
$ ,254.86
*Gross Salaries
$ ,758.21
*Benefits
$ ,496.65

3. Check Register Accountability Summary
12/01/2018 – 12/31/2018
State Fund Amount: $45,576.23
Federal Fund Amount: $119,938.23
Local Fund Amount: $46,693.36___
Totals: $212,207.82
*The full detailed register will be available on the Barbour County Schools website after board approval.

4. Bank Statement Reconciliations November 2018

5. Bank Statement Reconciliations December 2018

6. Tentative General Fund Financial Summary For FY (There are still edits and corrections being completed)
Revenues: $7,161,082.28
Expenditures: ($7,501,975.26)
Other Fund Sources (Uses): ($138,622.90)
Excess Revenues & Other Sources: ($479,515.88)
Beginning Fund Balance: $626,675.67
Ending Fund Balance FY18: $147,159.79*
*Still pending end of year adjustments
That would be 25% of our 1 months operating reserve which is $610,504.75

7. Conclusion
There are Federal Funds for October, November, and December of FY that have not been received as of December.
Our FY Federal Consolidated Plan is approved and the available funds have been requested.
As stated in previous meetings, we must implement sound accounting practices from week to week in order to reduce expenditures wherever possible if we want to obtain our one month’s operating reserve. Once we get to that point, we must maintain that level of operation. If not, we will see continued months and years of a low operating reserve.
If sound accounting practices are not observed each month, we will continue to have delays in having financial reports ready on time at month and year end.
We are still processing FY edits so that our Fiscal Year ending financials will be in compliance and approvable by the ALSDE LEA Accounting Department.