Columbus City Schools MONTHLY FINANCIAL REPORT For the month ending - - PowerPoint PPT Presentation

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Jul 04, 2023 487 likes •637 views

Columbus City Schools MONTHLY FINANCIAL REPORT For the month ending September 30, 2019 FINANCE AND APPROPRIATIONS COMMITTEE REVIEW October 9, 2019 PRESENTED TO THE BOARD OF EDUCATION October 15, 2019 Year-to-Date Summary $10M 3% $18M 8%

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Columbus City Schools MONTHLY FINANCIAL REPORT

For the month ending September 30, 2019

FINANCE AND APPROPRIATIONS COMMITTEE REVIEW October 9, 2019 PRESENTED TO THE BOARD OF EDUCATION October 15, 2019

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Year-to-Date Summary

September 2019 Financial Report

$18M 8% $10M 3%

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September Financial Highlights

Revenue

– State aid

On target to come in at FY19 level
$11.8 million in Student Wellness and Success funds expected in

October – Accounted for in separate fund – 467 – Reflected in FYF by reducing both revenue and expenditures

– Other revenues over plan $2.6 million this month

Tuition, investment income, indirect cost reimbursement

– $2.9 million Transfer-In – Bus purchase debt service September 2019 Financial Report

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Revenues Year-To-Date

September 2019 Financial Report

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Other Revenues Year-To-Date

September 2019 Financial Report

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September Financial Highlights

Expenditures

– Personnel over plan for the month, first time this year

$437,000 over for the month; $12 million under YTD

– Purchased services under plan $1.0 million for the month; $4.1 million YTD

Largest non-personnel variance (by dollar amount)

– $2.9 million Transfer-Out – Bus purchase debt service September 2019 Financial Report

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Expenditures Year-To-Date

September 2019 Financial Report

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Expenditures Year-To-Date

September 2019 Financial Report

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VARIANCE ANALYSIS − REVENUES

September 2019 Financial Report

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September 2019 Financial Report

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Variances

“High”: Variance amount >= $5 million OR Variance percentage >= 5%

Source Variance amount Variance Percentage Percent of Total Est. Rev. Property Taxes Low Low 54.5% State Aid Low Low 38.6%

Restrict. Fed. Grants

Low Low 0.1% Property Tax Allocation Low High 3.2% All Other Revenues Low High 2.4% Other Financing Sources Low High 1.3%

September 2019 Financial Report

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VARIANCE ANALYSIS − EXPENDITURES

September 2019 Financial Report

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September 2019 Financial Report

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Variances

“High”: Variance amount >= $5 million OR Variance percentage >= 5%

Source Variance amount Variance Percentage Percent of Total Budget Personnel High High 64.8% Purchased Services Low High 8.2% Charter Low Low 22.2% Supplies Low High 2.3% Capital Outlay Low High 0.5% Debt Low Low 0.4% Other Objects Low High 1.1% Other Uses Low High 0.4%