Talawanda City School District Finance and Investment Report - PowerPoint PPT Presentation

Talawanda City School District Finance and Investment Report August 31, 2019 Michael S. Davis, CPA Chief Financial Officer

Financial Report Revenues FY2020 Percent of FY2020 Percent Description Budget Revenue Actual Received Local Taxes $22,952,643 64.96% $ 7,646,234 33.31% Interest Income 742,615 2.10% 80,290 10.81% Other Local 1,611,669 4.56% 296,273 18.38% Total Local $25,306,927 71.63% $ 8,022,797 31.70% State Rollback $ 1,493,058 4.23% $ 0 0.00% State Foundation 8,532,293 24.15% 1,458,317 17.09% Total State $10,025,351 28.37% $1,458,317 14.55% Total Revenues $35,332,277 $ 9,481,114 26.83% Percent of Year Completed: 16.67%

Financial Report Expenditures FY2020 Percent of FY2020 Percent Description Budget Expenditures Actual Expended Salaries $20,411,798 53.61% $ 3,198,112 15.67% Fringe Benefits 6,970,898 18.31% 1,102,115 15.81% Purchased Services 7,847,522 20.61% 632,209 8.06% Supplies 1,077,451 2.83% 236,578 21.96% Capital Outlay 959,416 2.52% 574,627 59.89% Other Expenditures 805,454 2.12% 252,918 30.40% Total Exp. $38,072,539 100.00% $ 5,996,559 15.75% Sur/(Def) ($2,740,262) Percent of Year Completed: 16.67%

Financial Report Cash Balance 2020 2020 Percent Description Budget Actual Difference Cash Balance $28,203,188 $28,210,087 0.02% Previous Year Cash Balance $29,646,434 B/(W) vs. PY ($1,436,347) -4.84% NOTE: PY cash balance difference reflects the FY19 operating deficit ($1.3MM) plus FYTD REV/EXP variances vs the prior year. The district is expected to continue to operate in deficit spending for FY20 and such deficit meets the ODE’s/AOS criteria for ‘Fiscal Caution’.

Millage Equivalent

# Months Reserve

Financial Summary Trailing Five-Year ACT 2015 ACT 2016 ACT 2017 ACT 2018 ACT 2019 ACT Description Revenues $32,919,014 $33,233,498 $34,347,467 $34,943,561 $35,038,813 Expenditures $32,148,188 $32,217,284 $33,254,201 $34,377,074 $36,351,152 Rev over/(short) $ 770,826 $1,016,214 $1,093,266 $566,487 ($1,312,339) Cash Balance*$23,362,499 $24,389,685 $25,482,951 $26,049,438 $24,737,099 *Note 1: FY19 now reflects ACTUAL which was a $1.3MM operating DEFICIT.

Investment Report All Operating Funds First Financial (Liquid) $9,913,934.28 .40/2.00% • Star Ohio (Liquid) $ 197,785.42 2.31% • U.S. Bank (Market Value) • • Agency Notes: $13,163,048.22 1.99% • U.S. Treasury Bills/Notes: $ 1,915,000.00 2.03% • Commercial Paper $ 7,574,421.80 2.66% • Certificates of Deposit: $ 7,027,856.37 2.54% • Money Market Fund: $ 4,611.62 1.98% • Accrued Interest: $ 82,596.72 Total U.S. Bank (Operating) $29,767,534.74 2.29% •

Investment Report Marshall 2018 COPs • U.S. Bank (Market Value) • Agency Notes: $ 0.00 0.00% • U.S. Agency Notes: $ 850,062.79 2.10% • Commercial Paper $ 4,892,207.90 2.59% • U.S. Treasury Notes: $ 2,531,809.03 2.59% • Money Market Fund: $ 18,102.62 1.98% • Accrued Interest: $ 7,237.07 • Total U.S. Bank (Operating) $ 8,299,419.41 2.53%

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