NORWELL PUBLIC SCHOOLS FY’18 Year End Budget Report Financial Presentation As of June 30, 2018 Warren MacCallum September 17, 2018
OVERVIEW Periods ending 6/30/17 and 6/30/18 FY'17 FY’18 Budget $25,444,860 $26,332,976 Special Ed. Stabilization $50,000 $50,000 Total Budget $25,494,860 $26,382,976 Total Expenditures $25,494,860 $26,382,783 Percent of Budget 100% 99.99%
FY’18 Major Variances @ June 30, 2018 (Tech Replacement Equipment) l (Utilities) l (Employee Separation) l (Out of District Tuitions and Transportation) l (Medical Therapeutic) l Hiring l Grant Management l Summer School l Professional Development l Texts l Long Term Leaves l Regular Transportation l Supplies and Materials l
FY’17 to FY’18 Actual Spending Comparison
FY’17 to FY’18 Actual Spending Comparison
FY’17 to FY’18 Actual Spending Comparison
Revolving Accounts Tracking Transpor- Commty Rev. Athletics Facilities tation Opening Balance 7/1/17 (FY'18) $49,404 $55,061 $25,598 $10,429 Budget Receipts FY'18 $336,000 $325,000 $0 $155,000 Budget Expenditures FY'18 $336,000 $325,000 $0 $155,000 Projected Rollover $49,404 $55,061 $25,598 $10,429 Collected Y-T-D @ 6/30/18 $412,047 $341,166 $66,576 $154,510 Expended Y-T-D @ 6/30/18 $374,386 $340,564 $70,090 $151,523 Funds Available @ 6/30/18 $87,065 $55,663 $22,084 $13,416 FY'19 deposits and fees collected in FY'18 $45,200 $9,750
Circuit Breaker Forecast for FY’19 Special Education O on Out of District Tuitions Forecast and Planning Worksheet FY’16 FY’17 FY’18 FY’19 FY’20 FY’21 Reimbursement % 73% 70% 72.1% 75% Carryover from Prior Year $ 613,915 $ 498,383 $ 572,486 $ 357,238 $ 5,856 $ 200,856 Receipts $ 730,548 $ 727,819 $ 850,239 $ 968,618 $ 950,000 $ 750,000 Expenditures -$ 846,080 -$ 653,716 -$ 1,065,487 -$ 1,320,000 -$ 755,000 -$ 805,000 Balance Rolled over $ 498,383 $ 572,486 $ 357,238 $ 5,856 $ 200,856 $ 145,856 Language Based Program Budget $ 949,607 $ 1,100,000 $ 1,250,000 $ 1,420,000 $ 1,420,000 $ 1,420,000 Operational Expenditure $ 1,128,922 $ 1,365,274 $ 1,471,649 $ 1,420,000 $ 1,420,000 $ 1,420,000 Reserve Circuit Breaker ** $ 115,532 $ 155,333 $ 493,001 $ 962,762 $ 749,144 $ 604,144 Budgeted Circuit Breaker $ 601,017 $ 498,383 $ 572,486 $ 249,208 $ 5,856 $ 200,856 With 5th quarter and Ex Relief $ 730,548 $ 498,383 $ 572,486 $ 357,238 $ 5,856 $ 200,856 Circuit Breaker Expenditure $ 846,080 $ 653,716 $ 1,065,487 $ 1,320,000 $ 755,000 $ 805,000 Tot Expenditure $ 1,975,002 $ 2,018,990 $ 2,537,136 $ 2,740,000 $ 2,175,000 $ 2,225,000 ** Funds expended from current year circuit cuit breaker receipts
Summary l Although we intended to roll over $249,208 in circuit breaker, we received additional funding of $47,513 in extraordinary relief and $79,004 as a 4 th quarter state percentage increase. These additional amounts should have allowed NPS to increase the roll over funds to $375,725. Unfortunately, only $357,238 could be retained for FY’19.
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