finance and appropriations committee review …...board presentation august 20, 2019 8/19/2019 1...

BOARD PRESENTATION August 20, 2019 8/19/2019

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Columbus City SchoolsMONTHLY FINANCIAL REPORTFor the month ending June 30, 2019

FINANCE AND APPROPRIATIONS COMMITTEE REVIEWAugust 14, 2019

PRESENTED TO THE BOARD OF EDUCATION August 20, 2019

Year-to-Date Summary

$37M4%

June 2019 Financial Report

$6M1%


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Financial Highlights


* $Millions

Revenues YTD Plan*

Percent of

Plan YTD Actual*

Over(Under)

Plan*

Percent

Variance

Property Tax 502$ 54% 507$ 5$ 1%

State Aid 355$ 39% 359$ 4$ 1%

Subtotal 858$ 93% 866$ 9$ 1%

Other Local 18$ 2% 44$ 26$ 147%

All Other Sources 47$ 5% 49$ 2$ 4%

Total Revenues 922$ 959$ 37$ 4%



* $Millions

Expenditures YTD Plan*

Percent of

Plan YTD Actual*

Over(Under)

Plan*

Percent

Variance

Salaries & Wages 422$ 46% 415$ $ (7) ‐2%

Benefits 183$ 20% 175$ $ (8) ‐5%

Personnel 605$ 66% 590$ (15)$ ‐3%

Charter et al. 199$ 22% 193$ (6)$ ‐3%

Transfers Out 4$ 0% 34$ 31$ 831%

All Other Expenditures 108$ 12% 104$ (4)$ ‐4%

Total Expenditures 915$ 921$ 6$ 1%


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Revenues Year-To-Date


Other Revenues Year-To-Date



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Expenditures Year-To-Date



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VARIANCE ANALYSIS − REVENUES




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Other Revenues

• +$14.6 million PILOTS

• +$7.3 million Investment Income

• +$3.8 million Medicaid reimbursement

• +$0.8 million Win-Win & City of Cols Inc. Tax Sharing


Other Revenues

$Millions 2014 2015 2016 2017 2018 20192014-18 Average

FY19 Est.

PILOTS $2.6 $1.2 $7.7 $5.1 $5.5 $16.6 $4.4 $2.0

REVENUE SHARING

$1.8 $3.6 $0.0 $2.1 $1.5 $2.4 $1.8 $2.0

WIN-WIN $3.1 $4.9 $4.6 $4.7 $3.1 $2.5 $4.1 $2.1

TOTAL $7.4 $9.7 $12.3 $11.9 $10.1 $21.5 $10.3 $6.1



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VARIANCE ANALYSIS − EXPENDITURES




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$37M4%


$6M1%

Columbus City SchoolsMONTHLY FINANCIAL REPORTFor the month ending June 30, 2019




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Columbus City SchoolsMONTHLY FINANCIAL REPORTFor the month ending July 31, 2019



“The Plan”

• Revenues– Based on May 2019 Five Year Forecast

– Monthly cash flow based on prior years’ experience

• Expenditures– Based on Revised Budget as of July 24, 2019

– Adjusted for historical spending patterns and trends

– Monthly cash flow based on prior years’ experience

July 2019 Financial Report


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May 2019 FYF

Origina l

Budget

Carry Fwd

POs

Revised

Budget (BOY) Plan

Appropriation

Changes

Current

Revised

Budget

Origina l

Budget

Revised

Budget

(BOY) Plan

Current

Revised

Budget Plan %

Current

Revi sed

Budget %

01 ‐ SALARY & WAGES 429,700,000 435,470,000 ‐ 435,470,000 430,168,800 (0) 435,470,000 5,770,000 5,770,000 468,800 5,770,000 (5,301,200) ‐1.2% (0) 0.0%

02 ‐ FRINGE BENEFITS 186,200,000 186,630,000 225,028 186,855,028 180,035,800 0 186,855,028 430,000 655,028 (6,164,200) 655,028 (6,819,228) ‐3.6% 0 0.0%

04 ‐ PURCHASED SERVICES 285,000,000 285,031,961 7,013,650 292,045,610 275,935,500 (86,754) 291,958,856 31,961 7,045,610 (9,064,500) 6,958,856 (16,110,110) ‐5.5% (86,754) 0.0%

05 ‐ SUPPLIES 20,400,000 20,382,626 1,816,563 22,199,189 17,967,500 (72,768) 22,126,420 (17,374) 1,799,189 (2,432,500) 1,726,420 (4,231,689) ‐19.1% (72,768) ‐0.3%

06 ‐ CAPITAL OUTLAY 3,600,000 3,645,765 1,322,412 4,968,177 3,443,700 26,174 4,994,351 45,765 1,368,177 (156,300) 1,394,351 (1,524,477) ‐30.7% 26,174 0.5%

08 ‐ OTHER 10,700,000 10,710,563 83,442 10,794,005 10,307,100 119,840 10,913,845 10,563 94,005 (392,900) 213,845 (486,905) ‐4.5% 119,840 1.1%

09 ‐ OTHER USES OF FUNDS 3,600,000 3,737,000 ‐ 3,737,000 3,674,700 26,739 3,763,739 137,000 137,000 74,700 163,739 (62,300) ‐1.7% 26,739 0.7%

TOTAL 939,200,000 945,607,914 10,461,095 956,069,009 921,533,100 13,231 956,082,240 6,407,914 16,869,009 (17,666,900) 16,882,240 (34,535,909) ‐3.6% 13,231 0.0%

09 ‐ ADVANCES OUT2 10,000,000 ‐ ‐ ‐ 10,000,000 ‐ ‐ (10,000,000) (10,000,000) ‐ (10,000,000) 10,000,000 ‐

GRAND TOTAL 949,200,000 945,607,914 10,461,095 956,069,009 931,533,100 13,231 956,082,240 (3,592,086) 6,869,009 (17,666,900) 6,882,240 (24,535,909) ‐2.6% 13,231 0.0%

Over (Under) Revised Budget (BOY)

FIVE YEAR FORECAST ‐ BUDGET ‐ PLAN COMPARISON1

Current Values Over (Under) May 2019 FYFAt Beginning of FY2020


May 2019 FYF

Origina l

Budget

Carry Fwd

POs

Revised

Budget (BOY) Plan

01 ‐ SALARY & WAGES 429,700,000 435,470,000 ‐ 435,470,000 430,168,800

02 ‐ FRINGE BENEFITS 186,200,000 186,630,000 225,028 186,855,028 180,035,800

04 ‐ PURCHASED SERVICES 285,000,000 285,031,961 7,013,650 292,045,610 275,935,500

05 ‐ SUPPLIES 20,400,000 20,382,626 1,816,563 22,199,189 17,967,500

06 ‐ CAPITAL OUTLAY 3,600,000 3,645,765 1,322,412 4,968,177 3,443,700

08 ‐ OTHER 10,700,000 10,710,563 83,442 10,794,005 10,307,100

09 ‐ OTHER USES OF FUNDS 3,600,000 3,737,000 ‐ 3,737,000 3,674,700

TOTAL 939,200,000 945,607,914 10,461,095 956,069,009 921,533,100

09 ‐ ADVANCES OUT2 10,000,000 ‐ ‐ ‐ 10,000,000

GRAND TOTAL 949,200,000 945,607,914 10,461,095 956,069,009 931,533,100

At Beginning of FY2020


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Appropriation

Changes

Current

Revised

Budget

Origina l

Budget

Revised

Budget

(BOY) Plan

Current

Revised

Budget

01 ‐ SALARY & WAGES (0) 435,470,000 5,770,000 5,770,000 468,800 5,770,000

02 ‐ FRINGE BENEFITS 0 186,855,028 430,000 655,028 (6,164,200) 655,028

04 ‐ PURCHASED SERVICES (86,754) 291,958,856 31,961 7,045,610 (9,064,500) 6,958,856

05 ‐ SUPPLIES (72,768) 22,126,420 (17,374) 1,799,189 (2,432,500) 1,726,420

06 ‐ CAPITAL OUTLAY 26,174 4,994,351 45,765 1,368,177 (156,300) 1,394,351

08 ‐ OTHER 119,840 10,913,845 10,563 94,005 (392,900) 213,845

09 ‐ OTHER USES OF FUNDS 26,739 3,763,739 137,000 137,000 74,700 163,739

TOTAL 13,231 956,082,240 6,407,914 16,869,009 (17,666,900) 16,882,240

09 ‐ ADVANCES OUT2 ‐ ‐ (10,000,000) (10,000,000) ‐ (10,000,000)

GRAND TOTAL 13,231 956,082,240 (3,592,086) 6,869,009 (17,666,900) 6,882,240

Current Values Over (Under) May 2019 FYF


Plan %

Current

Revised

Budget %

01 ‐ SALARY & WAGES (5,301,200) ‐1.2% (0) 0.0%

02 ‐ FRINGE BENEFITS (6,819,228) ‐3.6% 0 0.0%

04 ‐ PURCHASED SERVICES (16,110,110) ‐5.5% (86,754) 0.0%

05 ‐ SUPPLIES (4,231,689) ‐19.1% (72,768) ‐0.3%

06 ‐ CAPITAL OUTLAY (1,524,477) ‐30.7% 26,174 0.5%

08 ‐ OTHER (486,905) ‐4.5% 119,840 1.1%

09 ‐ OTHER USES OF FUNDS (62,300) ‐1.7% 26,739 0.7%

TOTAL (34,535,909) ‐3.6% 13,231 0.0%

09 ‐ ADVANCES OUT2 10,000,000 ‐

GRAND TOTAL (24,535,909) ‐2.6% 13,231 0.0%

Over (Under) Revised Budget (BOY)



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$9M13%

$2M<1%


• Revenue

– Advances on 1st half Property taxes have begun

– State aid calculation does not yet include “K-12 Student Wellness and Success Funding”



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Other Revenues Year-To-Date



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• Expenditures

– Total running $8.9M under plan

– Personnel under plan $6.4M• More proportionately split between salaries/wages and benefits

• Not all new positions reflected in July

– All other expenditure lines (except for Other Objects) running under plan; $2.5M





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VARIANCE ANALYSIS − REVENUES



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Variances

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

Source Variance amount Variance PercentagePercent of Total Est.

Rev.

Property Taxes Low Low 54.5%

State Aid Low Low 38.5%

Restrict. Fed. Grants Low Low 0.1%

Property Tax Allocation

Low Low 3.5%

All Other Revenues Low High 1.9%

Other Financing Sources

Low High 1.5%



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VARIANCE ANALYSIS − EXPENDITURES




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Variances

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

Source Variance amount Variance PercentagePercent of Total

Budget

Personnel High High 65.6%

Purchased Services Low High 7.9%

Charter Low Low 21.4%

Supplies Low High 2.2%

Capital Outlay Low High 0.4%

Debt Low Low 0.4%

Other Objects Low High 1.1%

Other Uses Low High 0.9%




$9M13%

$2M<1%


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Columbus City SchoolsMONTHLY FINANCIAL REPORTFor the month ending July 31, 2019



finance and appropriations committee review …...board presentation august 20, 2019 8/19/2019 1...

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