COLUMBUS COLUMBUS CITY SCHOOLS CITY SCHOOLS Monthly Financial - PDF document

COLUMBUS COLUMBUS CITY SCHOOLS CITY SCHOOLS Monthly Financial Summary R Monthly Financial Summary Report port Gener General Fund l Fund and related and related debt service debt service – January 2016 January 2016 (FY2015-16) (FY2015-16) Columbus Board of Columbus Board of Education Education Mee Meeting ing Februar bruary 16, 2016 16, 2016 2 1

Summary YTD January 2016 (FY16) Current Year Current Year FYF LN Prior Year Estimate Actual 2.080 Total Revenues and Other Financing Sources $ 435,557,302 $ 474,330,191 $ 500,979,708 5.050 Total Expenditures and Other Financing Uses $ 460,407,073 $ 488,960,092 $ 477,121,618 Beginning Cash Balance $ 120,198,371 $ 138,873,287 $ 138,873,287 Ending Cash Balance $ 95,348,600 $ 124,243,387 $ 162,731,378 3 02/16/2016 Variance Summary YTD January 2016 (FY16) FYF LN Current Yr Over(Under) Estimate $ % Total Revenues and Other Financing 2.080 $ 26,649,517 5.6% Sources Total Expenditures and Other 5.050 $ (11,838,474) ‐ 2.4% Financing Uses Beginning Cash Balance $ ‐ 0.0% Ending Cash Balance $ 38,487,991 31.0% 4 02/16/2016 2

Revenues YTD Variance from Plan Total Revenues, FY2015-16 26.6 $30 Millions $20 $10 1.0 $0 (1.6) (3.7) (3.6) (4.2) ‐ $10 ‐ $20 (26.9) ‐ $30 5 JUL AUG SEP OCT NOV DEC JAN 02/16/2016 Revenues YTD Variance from Plan by Source, FY2015-16 $40 Millions $30 7.3 $20 23.0 $10 Non ‐ operating 7.6 State 3.0 3.4 2.6 0.6 $0 ‐ 1.4 Local ‐ 0.8 ‐ 3.6 ‐ 3.6 ‐ 4.7 ‐ 4.4 ‐ 5.4 ‐ 5.9 ‐ 2.2 ‐ 3.5 ‐ 2.2 ‐ 0.8 ‐ $10 ‐ 19.4 ‐ $20 ‐ 2.2 ‐ $30 6 JUL AUG SEP OCT NOV DEC JAN 02/16/2016 3

Revenue – General Property Tax Line 1.010 – Monthly as of January, FY2015-16 $160 Millions $140 $120 $100 PLAN $80 ACTUAL $60 $40 $20 $0 10 JUL AUG SEP OCT NOV DEC JAN FEB MAR APR MAY JUN 02/16/2016 Revenue – State Foundation Lines 1.035 & 1.040 – Monthly as of January, FY2015-16 $35 Millions $30 $28.3 $24.4 $25 1.035 & 1.040 Plan $20 1.035 & 1.040 $15 Actual $10 $5 $ ‐ 12 JUL AUG SEP OCT NOV DEC JAN FEB MAR APR MAY JUN 02/16/2016 4

Revenue – State Foundation Changes in Monthly Payment Jan #1 vs. Jan #2 JAN JAN #1 #1 JAN #2 JAN #2 STATE SUPPORT ANNUAL AMT ANNUAL AMT ANNUAL AMT CHANGE OPPORTUNITY GRANT 163,496,850 160,122,812 -3,374,039 TARGETED ASSISTANCE 16,507,108 16,166,455 -340,653 K-3 LITERACY FUNDING 4,202,701 4,115,971 -86,730 ECON DISADVANTAGED 42,813,366 41,929,838 -883,527 LEP 4,153,243 4,067,534 -85,709 GIFTED EDUCATION 1,794,652 1,757,617 -37,036 TRANSPORTATION 23,225,148 28,032,842 4,807,694 SPECIAL EDUCATION 37,992,753 37,992,753 0 CAREER TECH 1,930,262 1,930,262 EDUCATION 0 TOTAL STATE FUNDING 296,116,082 296,116,082 0 CAPPED CA PPED Total Calculated State Foundation 13 Funding = $385,391,344 02/16/2016 Revenue – State Foundation Changes in Monthly Payment Jan #1 vs. Jan #2 TRANSPORTATION YTD YTD AFTER JAN #2 AFTER JAN #2 SHOULD SHOULD YTD AS O YTD AS OF THE THE JAN AN #1 #1 ANNUAL ANNUAL AMT AMT BE (7/12 OF BE (7/12 OF ANNUAL ANNUAL B/M PMT (11) B/M PMT (11) PMT PMT AMOUNT) AMOUNT) 28,032,842 28, 032,842 16, 16,352,491 352,491 12, 12,598,858 98,858 3,753,633 3,753, 33 14 02/16/2016 5

Revenue – State Foundation Changes in Monthly Payment Jan #1 vs. Jan #2 JAN #2 B/M PMT JAN #2 B/M PMT B/M B/M PMT PMT STAT STATE SUPPO SUPPORT BAL PRIOR TO BAL PRIO R TO PMT PMT B/M B/M PMT PMT (JAN (JAN #1) #1) (11) (11 CHANGE CHANGE OPPOR PORTUNI UNITY TY 71,458 ,458,770 ,770 6,496,2 496,252 6,802,9 ,802,983 -306,731 GRANT GRAN TARGETED TA RGETED 7,192,7 192,720 653,88 ,884 684,85 ,852 -30,96 0,968 ASSISTANCE ASSIS K-3 K-3 LIT LITERA RACY 1,839,5 839,508 167,22 ,228 175,11 ,113 -7,885 ,885 FUND FUNDIN ING ECON ECON 18,590 ,590,054 ,054 1,690,0 690,005 1,770,3 ,770,326 -80,32 ,321 DISA DISADVAN ANTAGED LEP 1,720,9 ,720,936 156,44 ,449 164,24 ,240 -7,792 ,792 GIFTED EDUCAT GI EDUCATION 778, 778,708 70,792 70,792 74,159 74,159 -3,367 -3,367 TRANSPORTATION SPORTATION 15,433 5,433,984 ,984 3,753,6 753,633 966,02 ,026 2,787,6 787,607 SPECIAL EDUCAT SPEC IAL EDUCATION 17,389 17,389,538 538 1,580, 1,580,867 1,580, ,580,867 0 CAREER CAREER TECH TECH 884,70 ,703 80,428 ,428 80,428 ,428 0 EDUCAT EDUCATION ON TOT TOTAL STAT STATE 2,350,5 2,350 ,544 135,28 5,288,92 8,921 14,649 4,649,537 ,537 12,298 ,298,993 ,993 FUNDIN FUND ING 15 BAL PRIO BAL PRIOR TO R TO PMT ÷ PMT ÷ 11 CATCH CATCH UP UP TO TO 7/12 t 7/12 ths 02/16/2016 Expenditures YTD Variance, FY2015-16 $10 $8.1 Millions $4.1 $5 $1.0 $0.4 $0 Total Expenditures ‐ $5 ‐ $10 ($11.8) ($11.8) ($12.3) ‐ $15 18 JUL AUG SEP OCT NOV DEC JAN 02/16/2016 6

Expenditures YTD Variance by Category, FY2015-16 $20 Millions $15 $10 $16.2 $5 Other Financing Uses $7.4 $0.0 Non ‐ Personnel $2.5 ‐ $0.3 $0 ‐ $1.0 Personnel ‐ $2.1 ‐ $1.7 ‐ $3.1 ‐ $2.9 ‐ $5.3 ‐ $3.7 ‐ $2.0 ‐ $6.4 ‐ $5 ‐ $0.1 ‐ $7.1 ‐ $7.3 ‐ $6.4 ‐ $10 ‐ $15 19 JUL AUG SEP OCT NOV DEC JAN 02/16/2016 Monthly Expenditure Flow Plan/Actual thru January, FY2015-16 $70 Millions $60 $50 $40 $30 $20 $10 $0 JUL AUG SEP OCT NOV DEC JAN FEB MAR APR MAY JUN Personnel ‐ Plan Non ‐ Personnel ‐ Plan 20 Personnel ‐ Actual Non ‐ Personnel ‐ Actual 02/16/2016 7

Expenditures – Monthly Deductions Charter Schools, STEM, Scholarship, etc. (478, 479) $20 Millions $18 $16 FY16 PLAN $14 $12 $11.9 FY16 ACTUAL $10 $8 YTD VARIANCE $6 ACTUAL VS PLAN $4 $2 $0 JUL AUG SEP OCT NOV DEC JAN FEB MAR APR MAY JUN 26 02/16/2016 Expenditures – Monthly Deductions Charter Schools, STEM, Scholarship, etc. (478, 479) $20 Millions $15 FY16 PLAN $10 FY16 ACTUAL $5 YTD VARIANCE ACTUAL VS PLAN $0 JUL AUG SEP OCT NOV DEC JAN FEB MAR APR MAY JUN ($5) 27 02/16/2016 8

Expenditures – Monthly Deductions Charter Schools, STEM, Scholarship, etc. (478, 479) $16 Millions $14 $12 FY16 PLAN ‐ ADJ $10 $8 FY16 ACTUAL $6 $4 YTD VARIANCE ACTUAL VS PLAN ‐ $2 ADJ $0 ($0.3) ($0.6) ($0.7) ($1.0) ($1.3) ($1.5) ($1.4) ($2) 28 JUL AUG SEP OCT NOV DEC JAN FEB MAR APR MAY JUN 02/16/2016 Annual Amount Charter Schools, STEM, Scholarship, etc. (478, 479) APPROPRIATION vs. $Millions SFPR PLAN / APPROPRIATION $163.1 JUL #1 SFPR $160.2 $2.9 JUL #2 – AUG #1 SFPR $158.7 $4.4 AUG #2 – SEP #1 SFPR $159.5 $3.6 SEP #2 – Dec #1 SFPR $159.4 $3.7 Dec #2 – Jan #1 SFPR $159.6 $3.5 JAN #2 SFPR $163.4 ($0.3) 30 FEB #1 SFPR $165.4 ($2.3) 02/16/2016 9

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