Columbus City Schools MONTHLY FINANCIAL REPORT For the month ending - PowerPoint PPT Presentation

Columbus City Schools MONTHLY FINANCIAL REPORT For the month ending September 30, 2019 FINANCE AND APPROPRIATIONS COMMITTEE REVIEW October 9, 2019 PRESENTED TO THE BOARD OF EDUCATION October 15, 2019

Year-to-Date Summary $10M 3% $18M 8% September 2019 Financial Report

September Financial Highlights • Revenue – State aid • On target to come in at FY19 level • $11.8 million in Student Wellness and Success funds expected in October – Accounted for in separate fund – 467 – Reflected in FYF by reducing both revenue and expenditures – Other revenues over plan $2.6 million this month • Tuition, investment income, indirect cost reimbursement – $2.9 million Transfer-In – Bus purchase debt service September 2019 Financial Report

Revenues Year-To-Date September 2019 Financial Report

Other Revenues Year-To-Date September 2019 Financial Report

September Financial Highlights • Expenditures – Personnel over plan for the month, first time this year • $437,000 over for the month; $12 million under YTD – Purchased services under plan $1.0 million for the month; $4.1 million YTD • Largest non-personnel variance (by dollar amount) – $2.9 million Transfer-Out – Bus purchase debt service September 2019 Financial Report

Expenditures Year-To-Date September 2019 Financial Report

Expenditures Year-To-Date September 2019 Financial Report

VARIANCE ANALYSIS − REVENUES September 2019 Financial Report

September 2019 Financial Report

Variances Percent of Total Est. Source Variance amount Variance Percentage Rev. Property Taxes Low Low 54.5% State Aid Low Low 38.6% Restrict. Fed. Grants Low Low 0.1% Property Tax Low High 3.2% Allocation All Other Revenues Low High 2.4% Other Financing Low High 1.3% Sources “High”: Variance amount >= $5 million OR Variance percentage >= 5% September 2019 Financial Report

VARIANCE ANALYSIS − EXPENDITURES September 2019 Financial Report

September 2019 Financial Report

Variances Percent of Total Source Variance amount Variance Percentage Budget Personnel High High 64.8% Purchased Services Low High 8.2% Charter Low Low 22.2% Supplies Low High 2.3% Capital Outlay Low High 0.5% Debt Low Low 0.4% Other Objects Low High 1.1% Other Uses Low High 0.4% “High”: Variance amount >= $5 million OR Variance percentage >= 5% September 2019 Financial Report