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Treasurer’s Report March, 2009

Treasurer’s Report March, 2009. Board of Education Meeting Park Hill School District April 23, 2009. PAGE 1. TREASURER’S REPORT March, 2009. Revenue March Operating Revenue = $4,833,399. Major Revenue Items. PAGE 1. TREASURER’S REPORT March, 2009. Revenue Notes

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Treasurer’s Report March, 2009

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  1. Treasurer’s ReportMarch, 2009 Board of Education Meeting Park Hill School District April 23, 2009

  2. PAGE 1 TREASURER’S REPORTMarch, 2009 Revenue March Operating Revenue = $4,833,399 Major Revenue Items

  3. PAGE 1 TREASURER’S REPORTMarch, 2009 Revenue Notes • Current YTD Revenues at or Exceed Budget • Delinquent Taxes • Financial Institution Tax • In Lieu of Tax • Tuition • State Vocational Aid • Title III Revenue Concerns • Proposition C (State Sales Tax) • DESE Originally Estimated $874 per WADA (9410) • Current estimates $816 per WADA (9410) • Negative impact of $410,000 • Earnings on Investments

  4. PAGE 2 TREASURER’S REPORTMarch, 2009 Debt Service Revenue • Current Taxes YTD Receipts = $7,899,669 Tax Levy Impact on Budget • $8,583,605 budget adopted in June, 2008 with an anticipated debt service levy of $0.6562 • Actual debt service (August, 2008) levy $0.6107 • Anticipated debt service revenue adjusted for the new levy is $8,051,814

  5. PAGE 3 TREASURER’S REPORTMarch, 2009 • March Operating Expenditure Total $9,185,472 • All expenditures within district budgeted amounts

  6. PAGE 3 TREASURER’S REPORTMarch, 2009 Expenditure Notes • Expenditures currently within budgeted amounts • % of budget obligated by March in operating funds is • Consistent with prior years • Tracking within budgeted amounts • Utilities tracking slightly higher than budgeted amounts • Bus fuel tracking lower than budgeted amounts Expenditure Notes • None

  7. TREASURER’S REPORTCash Flow PAGE 4 Operating Receipts: $4,832,968 Operating Expenditures: ($9,185,472) ($4,352,504)

  8. TREASURER’S REPORTMarch, 2009 FY09 Budget • Budgeted expenditures include $1.99 million in one-time capital projects from operating fund balances • School Front Entries • Campus Master Plan • District Office Renovation • Union Chapel Septic Replacement • Employee Wellness Area • As above expenditures are made, this will result in a decrease cash flow from prior year for entire year • Will result in a decrease in cash flow / fund balances for FY2010 (estimated ~$22.0 million)

  9. PAGE 5 TREASURER’S REPORTMarch, 2009 FY2009 Invested Money • March revenue strategically invested to mature to meet monthly cash flow needs • Yields lower than budgeted • March, 2008 Interest Rates = Between 3% and 4% • Negatively impacts district revenue for “Earnings on Investments” • “Earnings on Investments” Revenue • Budgeted = $ 2,011,195 • Anticipated = ~$ 1,400,000 • Impact = ~$ 600,000

  10. Treasurer’s ReportMarch, 2009 Board of Education Meeting Park Hill School District April 23, 2009

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