FAC PRESENTATION April 11, 2019 4/6/2019 Columbus City Schools MONTHLY FINANCIAL REPORT For the month ending March 31, 2019 PRESENTED TO THE BOARD OF EDUCATION April 16, 2019 FINANCE AND APPROPRIATIONS COMMITTEE REVIEW April 11, 2019 1 Year-to-Date Summary – March 2019 $43M 5% $13M 2% 2 1
FAC PRESENTATION April 11, 2019 4/6/2019 March 2019 – Financial Highlights • Revenue – Property Taxes • Last month variance resolved to 0.97% favorable (+$4.9M) as expected – Other Revenues • PILOTS +13M YTD to plan • Expenditures – Personnel $10.2M under plan YTD ~ 2% – Purchased services $5.4M under plan YTD ~ 12% 3 Revenues Year-To-Date through March 2019 4 2
FAC PRESENTATION April 11, 2019 4/6/2019 Other Revenues Year-To-Date through March 2019 5 Revenues Year-To-Date through March 2019 6 3
FAC PRESENTATION April 11, 2019 4/6/2019 Revenues Year-To-Date through March 2019 7 Expenditures Year-To-Date through March 2019 8 4
FAC PRESENTATION April 11, 2019 4/6/2019 9 Expenditures Year-To-Date through March 2019 10 5
FAC PRESENTATION April 11, 2019 4/6/2019 Expenditures Year-To-Date through March 2019 11 Expenditures Year-To-Date through March 2019 12 6
FAC PRESENTATION April 11, 2019 4/6/2019 Expenditures Year-To-Date through March 2019 – WITHOUT CHARTER 13 VARIANCE ANALYSIS − REVENUES 14 7
FAC PRESENTATION April 11, 2019 4/6/2019 15 Variances Percent of Total Est. Source Variance amount Variance Percentage Rev. Property Taxes Low Low 54.5% State Aid Low Low 38.5% Restrict. Fed. Grants Low Low 0.1% Property Tax High High 3.5% Allocation All Other Revenues High High 1.9% Other Financing Low Low 1.5% Sources “High”: Variance amount >= $5 million OR Variance percentage >= 5% 16 8
FAC PRESENTATION April 11, 2019 4/6/2019 Other Revenues • $22.5 million favorable variance YTD (February) – $3.7 million Medicaid reimbursement – $13 million PILOTS – $5 million investment income 17 Other Revenues 2014-18 FY19 $Millions 2014 2015 2016 2017 2018 2019 Average Est. PILOTS $2.6 $1.2 $7.7 $5.1 $5.5 $14.9 $4.4 $2.0 REVENUE $1.8 $3.6 $0.0 $2.1 $1.5 $1.8 $1.8 $2.0 SHARING WIN-WIN $3.1 $4.9 $4.6 $4.7 $3.1 $0.0 $4.1 $2.1 TOTAL $7.4 $9.7 $12.3 $11.9 $10.1 $17.1 $10.3 $6.1 18 9
FAC PRESENTATION April 11, 2019 4/6/2019 VARIANCE ANALYSIS − EXPENDITURES 19 20 10
FAC PRESENTATION April 11, 2019 4/6/2019 Variances Percent of Total Source Variance amount Variance Percentage Budget Personnel High Low 65.6% Purchased Services High High 7.9% Charter Low Low 21.4% Supplies Low Low 2.2% Capital Outlay Low High 0.4% Debt Low Low 0.4% Other Objects Low Low 1.1% Other Uses Low High 0.9% “High”: Variance amount >= $5 million OR Variance percentage >= 5% 21 Year-to-Date Summary – March 2019 $43M 5% $13M 2% 22 11
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