AUGUSTA SCHOOL DEPARTMENT FINANCIAL OVERVIEW Presented by: Parker - PowerPoint PPT Presentation

AUGUSTA SCHOOL DEPARTMENT FINANCIAL OVERVIEW Presented by: Parker Madden RUNYON KERSTEEN OUELLETTE INSIDE 2. Summary of Audit Results 3. General Fund – Fund Balance 4. General Fund – Revenues (Budget vs Actual) 5. General Fund – Expenditures (Budget vs Actual) 6. General Fund – Revenue Distribution 7. General Fund – Expenditure Distribution (2019) 8. General Fund – Expenditure Distribution (2018) About this presentation This presentation is intended as a tool to assist the Augusta Board of Education and management in understanding its financial operating results. The information contained in this publication should be read in conjunction with the audited financial statements and related disclosures and should not be used for any other purposes without the expressed consent of RUNYON KERSTEEN OUELLETTE . Please contact us at 207-773-2986 or 1-800-486-1784 20 Long Creek Drive, South Portland, ME 04106

AUGUSTA SCHOOL DEPARTMENT SUMMARY OF AUDIT RESULTS • Financial Statement Opinion – Unmodified • Report Required by Government Auditing Standards • No Material Weaknesses • No Significant Deficiencies • Report Required by the Uniform Guidance • Programs Tested • Child Nutrition Cluster (School Lunch) • No Findings 2

AUGUSTA SCHOOL DEPARTMENT General Fund - Fund Balance 7,000,000 6,000,000 5,000,000 4,000,000 3,000,000 2,000,000 1,000,000 - 2019 2018 2017 2016 2015 Assigned 1,981,170 1,644,316 2,767,552 3,785,380 2,192,568 Unassigned 995,932 1,803,882 1,323,299 2,153,642 3,550,231 3

AUGUSTA SCHOOL DEPARTMENT General Fund Revenues Budget Actual Variance Local assessments $ 13,346,908 13,346,908 - Intergovernmental revenue 15,161,188 15,289,688 128,500 Charges for services 645,000 511,120 (133,880) Other revenue 30,000 125,441 95,441 Use of prior year encumbrances 181,563 - (181,563) Utilization of surplus 1,323,299 - (1,323,299) Total $ 30,687,958 29,273,157 (1,414,801) 4

AUGUSTA SCHOOL DEPARTMENT General Fund Expenditures Budget Actual Variance Regular Instruction $ 10,214,036 9,968,032 246,004 Special Education 5,126,347 4,961,598 164,749 Career & Technical Education 2,530,092 2,360,099 169,993 Other Instruction 597,579 539,647 57,932 Student & Staff Support 2,659,660 2,505,667 153,993 System Administration 910,309 844,507 65,802 School Administration 1,740,772 1,613,516 127,256 Transportation and Buses 1,634,604 1,754,376 (119,772) Facilities Management 3,250,604 3,225,324 25,280 All Other 5,187 1,016 4,171 Debt Service 2,018,768 2,012,850 5,918 Total 30,687,958 29,786,632 901,326 5

AUGUSTA SCHOOL DEPARTMENT General Fund – Revenue Distribution (Local and State) 54.00% 52.00% 50.00% 48.00% 46.00% 44.00% 42.00% 40.00% Local Assessments Intergovernmental 2019 45.59% 52.23% 2018 46.06% 50.87% 2017 46.96% 49.53% 2016 47.94% 48.64% 2015 45.09% 51.49% 6

AUGUSTA SCHOOL DEPARTMENT General Fund – Expenditure Distribution – 2019 Debt Service 6.76% Regular instruction 33.46% All Other 0.00% Facilities maintenance 10.83% Special education 16.66% Transportation 5.89% Career and technical education 7.92% School administration 5.42% Other instruction System administration 1.81% 2.84% Student and staff support 8.41% 7

AUGUSTA SCHOOL DEPARTMENT General Fund – Expenditure Distribution – 2018 Debt Service Regular instruction 7.33% 33.07% All Other 0.01% Facilities maintenance Special education 12.67% 15.64% Transportation Career and technical 5.44% education 7.68% School administration 5.69% Other instruction 1.87% System administration 3.03% Student and staff support 7.09% 8