Monthly Financial Report January 31, 2020 1 Year-to-Date Summary - - PDF document

FAC Presentation 2/12/2020 2/11/2020 1

Monthly Financial Report

January 31, 2020 Year-to-Date Summary

Revenues

• +$33M
• +6%

Expenditures

• -$16M
• -3%

January 2020 Financial Report 1 2

FAC Presentation 2/12/2020 2/11/2020 2

January Highlights - Revenues

• Property Tax advances began

Settlement Expected 1st Week of March

• State Funding continues under plan as expected
• Other Revenues

+$3.6 million for the month +$9.6 million YTD (Investment income +$4.7M, PILOTs +$2.9M)

January 2020 Financial Report

Revenues Year-to-Date

January 2020 Financial Report 4 5

FAC Presentation 2/12/2020 2/11/2020 3

All Other Revenues Year-to-Date

January 2020 Financial Report

Year-to-Date Revenue Variances

January 2020 Financial Report 6 7

FAC Presentation 2/12/2020 2/11/2020 4

Year-to-Date Revenue Variances

January 2020 Financial Report

Source Variance amount Variance Percentage Percent of Total

• Est. Rev.

Property Taxes High* High* 54.5% State Aid High Low 38.6%

• Restrict. Fed. Grants

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

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

January Highlights - Expenditures

• Personnel $5.0M under plan YTD: 1.4% ($343M expended)

Salaries & Wages: $1.9M under, 0.8% Benefits: $3.1M under, 3.0%

• Purchased Services continue to run under plan YTD

Under plan every month this fiscal year $8.6M under, 5.6%, overall

• Comm. School, et al.: $950,000 under, 0.8%

All other purchased services: $7.6M under, 21%

January 2020 Financial Report 8 9

FAC Presentation 2/12/2020 2/11/2020 5

Expenditures Year-to-Date

January 2020 Financial Report

All Other Expenditures YTD

January 2020 Financial Report 10 11

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YTD Expenditure Variances

January 2020 Financial Report

YTD Expenditure Variances

January 2020 Financial Report

Source Variance amount Variance Percentage Percent of Total Budget Personnel High* Low 64.8% Purchased Services High High 8.2% Charter Low Low 22.2% Supplies Low Low 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%

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

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