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Financial Report

DESCRIPTION

This summary financial report presents the Brunswick City School District's General Operating Funds for the fiscal year ended June 30, 2012. It highlights key financial figures such as the ending cash balance of $7,902,525 and unencumbered cash of $7,333,839, which translates to a 26-day operating reserve. The report also compares estimated and actual revenues of $62,077,000 and expenditures of $66,801,000, detailing sources of revenue and expenditures by category, as well as forecasts for upcoming years.

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Financial Report

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  1. Financial Report • Summary Financial Report for the General Operating Funds of the Brunswick City School District Year Ended June 30, 2012 • Presented by: Patrick K. East, Treasurer/CFO Year End Summary Financial Presentation

  2. Cash Balances June 30, 2012 • General Fund Ending Cash Balance $7,902,525 • Unencumbered Cash Balance $7,333,839 Year End Summary Financial Presentation

  3. Days of Operating Cash • Based on a 240 day Operating Year, our ending General Fun Cash Balance had an equivalent reserve to cover: 26 Days Year End Summary Financial Presentation

  4. Estimates to Actual • General Fund Estimated Resources to Actual Revenue: • Total Revenue $62,077,000 1.15% Over Year End Summary Financial Presentation

  5. Estimates to Actual • General Fund Estimated Expenditures to Actual Expenditures & Encumbrances: • Total Expenditures $66,801,000 0.63% Over Year End Summary Financial Presentation

  6. Unencumbered Cash Year End Summary Financial Presentation FY 2013 $1,129,000 est FY 2012 $7,333,000 FY 2011 $11,137,000 FY 2010 $11,693,000 FY 2009 $9,889,000 FY 2008 $5,948,000 FY 2007 $1,961,000 FY 2006 $1,547,000

  7. Basic State Aid Year End Summary Financial Presentation FY 2013 $20,015,000 est FY 2012 $20,592,000 FY 2011 $19,984,000 FY 2010 $20,676,000 FY 2009 $22,275,000 FY 2008 $22,249,000 FY 2007 $22,296,000 FY 2006 $22,298,000

  8. Personal Property Taxes Year End Summary Financial Presentation FY 2013 $ 816,000 est FY 2012 $ 827,000 FY 2011 $ 825,000 FY 2010 $ 888,000 FY 2009 $1,668,000 FY 2008 $2,601,000 FY 2007 $3,423,000 FY 2006 $3,692,000

  9. Personal Property Reimbursement (HB 66) Year End Summary Financial Presentation FY 2013 $ none FY 2012 $ 932,000 FY 2011 $2,222,000 FY 2010 $2,182,000 FY 2009 $1,854,000 FY 2008 $1,024,000 FY 2007 $ 770,000 FY 2006 $ 129,000

  10. General Fund – Federal Stimulus Money Year End Summary Financial Presentation FY 2013 $ none FY 2012 $ 1,186,000 FY 2011 $ 1,698,000 FY 2010 $ 1,398,000 FY 2009 $ none FY 2008 $ none FY 2007 $ none FY 2006 $ none

  11. Sources of Revenue • Real & Personal Property Tax 53.4% • State Basic Aid 33.2% • Federal Aid (ARRA) 2.0% • Other State Aid 9.4% • Local Sources 2.0% Year End Summary Financial Presentation

  12. Expenditures • Salaries & Benefits 85.5% • Purchased Services 7.6% • Supplies & Equipment 4.3% • Other Expenditures 2.6% Year End Summary Financial Presentation

  13. General Fund – Estimated Cash Balances Year End Summary Financial Presentation Five Year Forecast • FY 2013 $ 1,129,000 • FY 2014 ($ 5,152,000) • FY 2015 ($ 13,599,000) • FY 2016 ($ 24,348,000) • FY 2017 ($ 37,541,000)

  14. Financial Forecast

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