NORWELL PUBLIC SCHOOLS Third Quarter FY’15 Budget Report As of March 31 st , 2015 Warren MacCallum May 11 th , 2015
OVERVIEW Periods ending 3/31/14 and 3/31/15 FY'1 FY'14 FY'1 FY'15 Budge Budget $23,006, $23, 006,481 481 $23, $23,783, 783,676 676 3r 3rd Q Q Ex Expen endit itures es $14, $14,378, 378,383 383 $15, $15,144, 144,213 213 Percent of of Budget 62. 62.50% 50% 63. 63.67% 67%
FY’14 to FY’15 Third Quarter Spending Comparison
FY’14 to FY’15 Third Quarter Spending Comparison
FY’14 to FY’15 Third Quarter Spending Comparison FY'14 FY'14 Q3 FY'14 FY'15 Q3 FY'15 Q3 FY'15 FY'15 % Budget Expenditures Actuals FY'15 Budget Expenditures Forecast Changes increase Account Other School Services Medical Health Services 362,672 225,271 369,641 379,388 227,465 375,677 3,711 0.98% Transportation 1,136,672 658,043 1,134,704 1,168,823 636,197 1,207,700 -38,877 -3.33% Food Service 0 0 5,453 0 0 0 0 0.00% Athletics and Other Student Activities 379,208 174,195 439,698 441,209 251,668 440,331 878 0.20% Total 1,878,552 1,057,508 1,949,496 1,989,420 1,115,330 2,023,708 -34,288 -1.72% Operations and Maintenance Custodial Services 842,887 599,217 861,448 849,731 576,691 794,541 55,190 6.50% Utilities 568,441 271,463 385,423 538,505 246,684 516,656 21,849 4.06% Maintenance 248,390 189,636 335,955 291,540 189,295 299,090 -7,550 -2.59% Technology Infrastructure and Operations 233,817 302,815 396,429 264,878 229,165 298,319 -33,441 -12.63% Total 1,893,535 1,363,131 1,979,255 1,944,654 1,241,836 1,908,606 36,048 1.85% Other Community Service 6,570 747 40,876 6,500 0 5,500 1,000 15.38% Fixed Assets 0 0 7,122 0 0 0 0 0.00% Tuitions 979,013 515,395 1,030,864 996,201 712,197 1,122,162 -125,961 -12.64% Total 985,583 516,142 1,078,861 1,002,701 712,197 1,127,662 -124,961 -12.46% GRAND TOTAL 23,006,481 14,378,383 23,001,225 23,783,676 15,144,213 23,783,675 0 0.00%
FY’15 Major Variances @ March 31, 2015 (Fingerprinting) ! (Legal Services) ! (Legal Settlements) ! (Medical Therapeutic) ! (Professional Development) ! (Technology) ! (Homeless Transportation) ! (Sped. Tuitions) ! Summer Programs ! Staff Hiring ! Building Maintenance ! Utilities !
Budget Management / Risks ! Heat and Electricity – Increased contracts (20%) in both started in December – Still watching final bills from severe winter – PV Solar contract ! Special Ed Tuition and Transportation – Potential placements – Avg. transportation increases – McKinney-Vento increased population ! Major Repairs – aging facilities
Revolving Accounts Tracking Transpor- Pre K Athletics Facilities tation Opening Balance 7/1/14 (FY'15) $ 113,963 $ 75,161 $ 63,502 $ 4,817 Budget Receipts FY'15 $336,750 $263,750 $0 $136,000 Budget Expenditures FY'15 $336,750 $283,550 $0 $137,000 Budget Projected Rollover $113,963 $55,361 $63,502 $3,817 Current Projected Rollover @ 3/31/15 $80,000 $65,000 $25,000 $3,000 Collected Y-T-D @ 03/31/15 $267,697 $241,727 $43,550 $153,418 Expended Y-T-D @ 03/31/15 $207,113 $171,851 $62,132 $148,885 Funds Available @ 03/31/15 $174,547 $145,037 $44,920 $9,350
Circuit Breaker FY’11 FY’12 FY’13 FY’14 FY’15 Reimbursement % 42% 70% 75% 75% 72% Carryover from Prior Year 136,007 154,648 710,038 717,351 601,124 Receipts 451,641 761,698 717,351 601,124 601,017 Expenditures (433,000) (206,308) (646,049) (675,000) (601,124) {710,038} {717,351} Balance Rolled over 154,648 710,038 717,351 601,124 601,017
Summary ! Third quarter forecast seems to be in good shape ! Overages and savings have off-set each other
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