weld county school district 6 - greeleyschools.org

Weld County School District 6 Quarterly Financial Report

December 31, 2018

Submitted by

Weld County School District 6 Finance Department

Meggan Sponsler, CPA Chief Financial Officer

and Mandy Hydock

Finance Director

FINANCE DEPARTMENT

2nd Quarter Fund Financial Narrative December 31, 2018

Provided by Finance Administrative Staff

Activities for the 2nd quarter of the 2018-2019 fiscal year are presented in the attached December 31, 2018 2nd Quarter Financial Statements. The format of these financial statements presents the audited financial statements for the 2016-2017 fiscal year, audited for the 2017-2018 fiscal year as well as the 2018-2019 Board of Education Adopted Budget. The year-to-date actual balances, variance compared to budget and detailed percentages of the actual to budget are also presented in the financials. General Fund (10) – The General Fund is the District’s primary operating fund. It accounts for all financial resources of the District, except those required to be accounted for in another fund.

Summary

The 2nd quarter total year-to-date (YTD) revenues for the General Fund were $83 million and expenditures and transfers were $90.9 million. Of the YTD total budget, 39% of all revenues have been received and 43% and 50% of expenditures and transfers, respectively have been disbursed.

Explanation of Significant Variance Items - Revenues

Property Tax Revenue – The majority of the property tax revenues are collected from February through the end of the fiscal year. Although collections of these revenues are minimal to date, cash flows are managed through funds held at Wells Fargo and invested in governmental bonds.

Abatements – Variances associated with these revenues are controlled by the Weld County Assessor’s Office. The abatement process is used to correct taxes that have been levied erroneously or illegally due to erroneous valuation for assessment, irregularity in levying, clerical error, or over evaluation. Close monitoring of these revenues will occur the remainder of the fiscal year.

Earnings on Investments – In order to address the limited amount of revenue the District has received for earnings on investments, a portion of the district’s funds have been invested in bonds through Wells Fargo.

State Reimbursements – The receipt of revenue is dependent upon CDE disbursing the funds, typically twice a year. The District is on track to receive the budgeted funds.

Explanation of Significant Variance Items – Expenditures

As of December 31, 2018 total General Fund expenditures were 43% of the budget. Salaries and benefits together represent over 80% of the total budget. The expenditures of the general fund are below the percent of the budget to date due to timing of the recording of the certified salaries and benefits.

Dental Fund (14) – The Dental Fund accounts for claims and administrative fees of the District’s self-funded dental insurance employee benefit program.

Summary

The 2nd quarter total year-to-date (YTD) revenues for the Dental Fund were $555k and expenditures were $520k. Of the YTD total budget, 50% of all revenues have been received and 47% of expenditures have been disbursed. Funds expended are contingent upon the number of claims submitted from employees.

Poudre Learning Center Fund (16) – The Poudre Learning Center Fund accounts for the resources and expenditures to operate the Poudre Learning Center, which serves as a facility for interdisciplinary learning for a number of school Districts (Greeley-Evans, Johnstown-Milliken, Windsor, and Eaton).

Summary

As of the close of the 2nd quarter total year-to-date (YTD) there were $43k in revenues for the Poudre Learning Center Fund and YTD expenditures were $130k. Of the YTD total budget, 15% of revenues have been received and 44% of expenditures have been disbursed.

Explanation of Significant Variance Items - Revenues

Local Sources – Revenues received for the Poudre Learning Center (PLC) are dependent upon Weld County School District 6 billing the school Districts involved with the PLC. The Districts are billed on a quarterly basis.


All expenditures and transfers YTD are proportionately spent in accordance with the Adopted Budget.

Risk Management Fund (18) – This Risk Management Fund accounts for the resources used for the District’s liability, property, and workers’ compensation insurance needs. It also provides overall risk management activities for the District.

Summary

The 2nd quarter total year-to-date (YTD) other financing sources for the Risk Management Fund were $3.6 million and expenditures were $3.6 million. Of the YTD total budget, 186% of other financing sources and 179% of expenditures have been expended.

Explanation of Significant Variance Items – Revenues and Transfers

Local Sources – Revenues received in the Risk Management fund are primary dependent upon the receipt of filed claims from our insurance provider. The transfer from the General Fund is allocated on a monthly basis.


Expenses for insurance premiums are paid over 9 or 10 installments, causing expenses to be higher at the beginning of the year.

Expenses associated with insurance claims were incurred beyond what was initially budgeted.

Preschool Program Fund (19) – This fund was established by Senate Bill 01-123, concerning the required expenditure of a portion of a school District’s per pupil operating revenue for the school District’s Colorado Preschool Program.

Summary

As of the close of the 2nd quarter total year-to-date (YTD) there were transfers of $1.2 million for the Preschool Program Fund and expenditures were $1.2 million. Of the YTD total budget, 50% of transfers have been received and 48% of expenditures have been expended. Activity in the fund is consistent with prior years and is on track to end the year with a positive fund balance.

Food Service Fund (21) – This fund accounts for all financial activities associated with the District’s nutrition program.

Summary

The 2nd quarter total year-to-date (YTD) revenues and transfers for the Food Service Fund were $4.9 million and 150k respectively, and expenditures were $5.1 million. Of the YTD total budget, 45% of all revenues and 50% of all transfers have been received and 45% of expenditures have been expended. Based on prior year activity, the Food Service Fund is on track to meet budget projections.

Grants Fund (22) – This fund is provided to account for monies received from various federal, state and local grant programs.

Summary

The 2nd quarter total year-to-date (YTD) revenues for the Grants Fund were $9 million and expenditures were $6.3 million. Of the YTD total budget, 51% of all revenues have been received and 36% of expenditures have been expended.


The expenditures of the Grant Fund are below the percent of the budget to date due to timing of the recording of the certified salaries.

Platte Valley Youth Services Fund (26) – This fund accounts for the activities of the Platte Valley Youth Services Center, which the District operates on behalf of other districts within the state and District 6.

Summary

The 2nd quarter total year-to-date (YTD) revenues and transfers for the Platte Valley Youth Services Fund were $483k and $140k, respectively, and expenditures were $609k. Of the YTD total budget, 35% of all revenues and 50% of transfers have been received and 37% of expenditures have been expended.


The expenditures of the Platte Valley Youth Services Fund are below the percent of the budget to date due to timing of the recording of the certified salaries.

Bond Redemption Fund (31) – This fund is authorized by Colorado law. It provides revenues based upon a property tax mill levy set by the Board of Education to satisfy the District’s bonded indebtedness on an annualized basis.

Summary

The 2nd quarter total year-to-date (YTD) revenues for the Bond Redemption Fund were $428k and expenditures were $9.6 million. Of the YTD total budget, 4% of all revenues have been received and less than 96% of expenditures have been disbursed.

Explanation of Significant Variance Items – Revenues and Transfers

Property Tax Revenues –– The majority of the property tax revenues are generally collected from February through the end of the fiscal year.


Principal / Interest – Principal and interest payments are due in December of each year. There are additional interest payments due in June of each year. These payments are processed with the funds held by our trustees, US Bank.

Capital Projects Fund (43) – This fund is used to account for revenues restricted for ongoing capital needs such as site acquisition, building additions, repair and maintenance, and equipment purchases.

Summary

The 2nd quarter total year-to-date (YTD) revenues and transfers for the Capital Reserve Fund were $332k and $1.7 million, respectively, and expenditures were $1.2 million. Of the YTD total budget, 1107% of all revenues and 50% of transfers have been received and 33% of expenditures have been expended.

Explanation of Significant Variance Items – Revenues

The district received the remaining reimbursement from the City of Greeley for the FieldTurf projects.


The majority of the expenditures are not expended until the summer months as site improvement projects are initiated and completed in this timeframe so as not to disrupt school activities. The budget shows a significant variance due to various large projects occurring during the summer months.

Weld County School District 6 2nd Qtr Financial Report

Audited Audited

Fund Balance Fund Balance YTD YTD Expenditures Fund Balance

6/30/2017 6/30/2018 Revenues & Transfers 6/30/2019

General Funds

10 General 26,601,962 29,149,792 83,029,881 90,906,769 21,272,904

14 Dental 343,659 513,094 555,049 519,711 548,432

16 Poudre Learning Center 118,065 143,582 42,503 129,721 56,364

18 Risk Management 393,974 1,874,529 0 (59,762) 1,934,291

19 Preschool Program 242,831 258,432 - 49,899 308,331

Total General Funds 27,700,491 31,939,429 83,627,433 91,546,338 24,120,321

Special Revenue Funds

21 Food Service 1,849,243 860,241 4,991,784 5,134,110 717,915

22 Grant - - 9,085,830 6,329,989 2,755,841

26 Platte Valley Youth Services - - 482,774 749,905 (267,130)

Total Special Revenue Funds 1,849,243 860,241 14,560,388 12,214,003 3,206,625

Debt Service Funds

31 Bond Redemption 13,373,640 16,384,619 427,899 9,555,342 7,257,176

Total Debt Service Funds 13,373,640 16,384,619 427,899 9,555,342 7,257,176

Capital Projects Funds

43 Capital Projects 4,535,857 4,232,356 332,160 (575,652) 5,140,168

Total Capital Projects Funds 4,535,857 4,232,356 332,160 (575,652) 5,140,168

Agency Funds

73 Scholarships 420,497 546,548 102,543 7,600 641,491

74 Student Activities 1,087,136 1,151,376 819,143 644,959 1,325,560

77 Athletic Activities 207,184 172,482 150,323 103,873 218,932

Total Agency Funds 1,714,817 1,870,406 1,072,009 756,432 2,185,983

TOTALS 49,174,048 55,287,051 100,019,888 113,496,463 41,910,272

Fund

WELD COUNTY SCHOOL DISTRICT 6

FUND BALANCE WORKSHEET

For the Month Ended December 31, 2018

Fund Balance Worksheet Page 1

WELD COUNTY SCHOOL DISTRICT 6 2nd Qtr Financial Report

2016-2017 2017-2018 2018-2019 2018-2019

Audited Audited Adopted YTD

Actual Actual Budget Actual Variance

REVENUES

Local Sources 43,089,979$ 67,620,848$ 67,490,803$ 8,764,640$ (58,726,163)$

State Sources 135,451,628 133,733,311 144,807,883 74,265,241 (70,542,642)

TOTAL REVENUES 178,541,607 201,354,159 212,298,686 83,029,881 (129,268,805)

EXPENDITURES

Instructional 77,474,662 84,696,829 91,382,157 33,113,353 58,268,804

Support Services

Student Support 7,007,312 7,496,740 7,973,731 3,277,135 4,696,596

Instructional Staff Support 6,458,602 6,535,934 7,536,798 3,925,812 3,610,986

General Administration 1,509,523 1,632,671 1,834,543 826,612 1,007,931

School Administration 9,976,764 10,338,475 11,060,678 4,668,968 6,391,710

Business Services 2,190,479 2,446,994 3,293,565 1,247,499 2,046,066

Operations & Maintenance 11,808,297 15,230,878 17,146,792 7,517,818 9,628,974

Student Transportation 4,607,306 4,593,788 5,964,809 2,450,814 3,513,995

Other Support Services 5,839,258 6,331,231 9,504,638 4,469,569 5,035,069

Capital Outlay 588,004 947,055 - - -

Payments Made to Charter Schools:

Union Colony Secondary 3,444,472 4,018,176 4,184,387 1,970,869 2,213,518

Union Colony Elementary 3,282,511 3,762,260 3,978,861 2,076,825 1,902,036

University 13,964,590 15,337,079 15,993,616 7,923,427 8,070,189

Frontier 11,739,576 13,064,708 13,540,529 7,711,762 5,828,767

Salida del Sol 6,017,544 6,090,387 6,692,736 3,460,457 3,232,279

Westridge 1,867,162 3,260,310 3,722,674 2,021,764 1,700,910

TOTAL EXPENDITURES 167,776,062 185,783,515 203,810,514 86,662,683 117,147,831

TOTAL TRANSFERS (6,073,647) (13,022,814) (8,488,172) (4,244,086) (4,244,086)

TOTAL EXPENDITURES/RESERVES/TRANSFERS 173,849,709 198,806,329 212,298,686 90,906,769 121,391,917

TOTAL BEGINNING BALANCES & RESERVES 21,910,064 26,601,962 22,401,962 29,149,792 (6,747,830)

ENDING FUND BALANCE 26,601,962$ 29,149,792$ 22,401,962$ 21,272,904$ (1,129,058)$

SUMMARY OF RESOURCES, EXPENDITURES, RESERVES AND TRANSFERS

2017-2018 GENERAL OPERATING FUND


Summary of Resources, Expendtirue, Reserves and Transfers Page 2


2016-2017 2017-2018 2018-2019 2018-2019

Audited Audited Adopted YTD % Actual /

Actual Actual Budget Actual Variance Budget

REVENUES

Local Sources

Property Taxes 31,665,469$ 39,288,709$ 41,243,102$ 1,109,658$ (40,133,444)$ 3%

Mill Levy Overide - 14,050,955 14,500,000 396,504 (14,103,496) 3%

Specific Ownership Tax 3,215,524 3,968,730 3,608,680 2,927,282 (681,398) 81%

Delinquent Taxes, Penalties & Interest (42,347) 5,458 - (3,673) (3,673) 0%

Abatements 563,947 207,679 200,000 5,303 (194,697) 3%

Summer School Fees, Intercession 500 - - - - 0%

Other Tuition - - 10,000 18,594 8,594 186%

Earnings on Investments (2,175) 105,200 40,000 360,889 320,889 902%

District Services Provided to Charter Schools 4,737,618 4,806,088 4,859,021 2,839,943 (2,019,078) 58%

District Services Provided to Food Service - 17,954 - 2,443 2,443 0%

Indirect Cost Revenue 787,682 609,709 450,000 55,372 (394,628) 12%

All Other Local Revenue 2,163,761 4,560,364 2,580,000 1,052,324 (1,527,676) 41%

Total Local Revenue 43,089,979 67,620,848 67,490,803 8,764,640 (58,726,163) 13%

State Sources

State Equalization 123,550,014 121,659,920 132,762,694 65,308,394 (67,454,300) 49%

Charter School Capital Construction 1,391,089 1,345,189 1,345,189 677,450 (667,739) 50%

Full Day Kindergarten Hold Harmless 277,043 285,038 250,000 - (250,000) 0%

READ Act Funding 1,135,069 1,183,533 1,200,000 1,063,523 - 89%

At-Risk Funding 1,742,888 1,675,550 1,700,000 - (1,700,000) 0%

Vocational Education 179,359 302,196 250,000 - (250,000) 0%

Special Ed Reimbursement 4,113,877 3,960,185 4,000,000 3,909,988 (90,012) 98%

English Language Proficiency Act 1,853,071 2,083,097 2,100,000 2,148,761 48,761 102%

Gifted and Talented Reimbursement 198,153 203,821 200,000 125,789 (74,211) 63%

Transportation 1,011,065 1,093,174 1,100,000 1,031,337 - 94%

Audit Adjustments - (58,393) (100,000) - 100,000 0%

Total State Revenue 135,451,628 133,733,311 144,807,883 74,265,241 (70,337,502) 51%

TOTAL REVENUES 178,541,607$ 201,354,159$ 212,298,686$ 83,029,881$ (129,063,665)$ 39%

GENERAL OPERATING FUND REVENUE DETAIL


General Operating Fund Revenue Detail Page 3


2016-2017 2017-2018 2018-2019 2018-2019



EXPENDITURES

Current

Instruction 77,474,662$ 84,696,829$ 91,382,157$ 33,113,353$ 58,268,804$ 36%

Support Services:

Student Support Services 7,007,312 7,496,740 7,973,731 3,277,135 4,696,596 41%

Instructional Staff Support Services 6,458,602 6,535,934 7,536,798 3,925,812 3,610,986 52%

General Administration Services 1,509,523 1,632,671 1,834,543 826,612 1,007,931 45%

School Administration Services 9,976,764 10,338,475 11,060,678 4,668,968 6,391,710 42%

Business Services 2,190,479 2,446,994 3,293,565 1,247,499 2,046,066 38%

Operations & Maintenance 11,808,297 15,230,878 17,146,792 7,517,818 9,628,974 44%

Student Transportation 4,607,306 4,593,788 5,964,809 2,450,814 3,513,995 41%

Other Support Services 5,839,258 6,331,231 9,504,638 4,469,569 5,035,069 47%

Capital Outlay 588,004 947,055 - - - 0%

Total Instruction and Support Services 127,460,207 140,250,595 155,697,711 61,497,580 94,200,131 39%

Payments Made to Charter Schools:

Union Colony Secondary

Per Pupil Revenue 3,286,019 3,337,532 3,678,504 1,721,593 1,956,911 47%

MLO Allocation - 288,893 290,702 140,705 149,997 48%

Capital Construction 124,807 117,113 117,114 54,590 62,524 47%

Other State and Local Funding 33,646 274,638 98,067 53,981 44,086 55%

Total Union Colony Secondary 3,444,472 4,018,176 4,184,387 1,970,869 2,213,518 47%

Union Colony Elementary


MLO Allocation - 271,976 273,678 135,175 138,503 49%


Other State and Local Funding 110,229 195,386 192,340 199,139 (6,799) 104%

Total Union Colony Elementary 3,282,511 3,762,260 3,978,861 2,076,825 1,902,036 52%

University


MLO Allocation - 1,122,063 1,129,084 560,869 568,215 50%



Total University 13,964,590 15,337,079 15,993,616 7,923,427 8,070,189 50%

Frontier


MLO Allocation - 948,988 950,997 552,817 398,180 58%

GENERAL OPERATING FUND EXPENDITURE AND TRANSFER DETAIL


General Operating Fund Expenditure and Transfer Detail Page 4



Total Frontier 11,739,576 13,064,708 13,540,529 7,711,762 5,828,767 57%

Salida del Sol


MLO Allocation - 417,073 419,683 221,550 198,133 53%



Total Salida del Sol 6,017,544 6,090,387 6,692,736 3,460,457 3,232,279 52%

West Ridge


MLO Allocation - 246,275 247,816 151,631 96,185 61%



Total West Ridge 1,867,162 3,260,310 3,722,674 2,021,764 1,700,910 54%

Total Payments Made to Charter Schools 40,315,855 45,532,920 48,112,803 25,165,104 22,947,699 52%

TOTAL EXPENDITURES 167,776,062 185,783,515 203,810,514 86,662,683 234,295,662 43%

Excess of Revenues

Over (Under) Expenditures 10,765,545 15,570,644 8,488,172 (3,632,802) 12,120,974 -43%

OTHER FINANCING SOURCES (USES)

Transfers Out

Capital Lease Issuance 106,959 - - - - 0%

Capital Projects (2,000,000) (4,500,000) (3,500,000) (1,750,000) (1,750,000) 50%

Nutrition Services - - (300,000) (150,000) (150,000) 50%

Platte Valley Youth Services (234,534) (263,606) (280,655) (140,328) (140,328) 50%

Preschool (2,246,072) (2,309,208) (2,457,517) (1,228,759) (1,228,759) 50%

Insurance Reserve (1,700,000) (5,950,000) (1,950,000) (975,000) (975,000) 50%

TOTAL OTHER FINANCING SOURCES (USES) (6,073,647) (13,022,814) (8,488,172) (4,244,086) (4,244,086) 50%

NET CHANGE IN FUND BALANCE 4,691,898 2,547,830 - (7,876,888) 7,876,888

Fund Balance, Beginning, as Restated 21,910,064 26,601,962 22,401,962 29,149,792 -

Fund Balance, Ending 26,601,962$ 29,149,792$ 22,401,962$ 21,272,904$ 1,129,058$

General Operating Fund Expenditure and Transfer Detail Page 5


$0

$50,000,000

$100,000,000

$150,000,000

$200,000,000

$250,000,000

July August September October November December January February March April May June

General Operating Fund Revenues

2016-2017 Audited 2017-2018 Unaudited 2018-2019 YTD

$0

$20,000,000

$40,000,000

$60,000,000

$80,000,000

$100,000,000

$120,000,000

$140,000,000

$160,000,000

$180,000,000

$200,000,000

July August September October November December January February March April May June

General Operating Fund Expenditures

2016-2017 Audited 2017-2018 Unaudited 2018-2019 YTD

General Operating Fund Revenues and Expenditures Graphs Page 6


2016-2017 2017-2018 2018-2019 2018-2019



REVENUES

Dental Premiums 859,232$ 1,078,524$ 1,100,000$ 555,049 544,951 50%

TOTAL REVENUES 859,232 1,078,524 1,100,000 555,049 544,951 50%

EXPENDITURES

Support Services

Other Support Services 943,266 909,090 1,100,000 519,711 580,289 47%

TOTAL EXPENDITURES 943,266 909,090 1,100,000 519,711 580,289 47%

Net Change in Fund Balance (84,034) 169,434 - 35,338 35,338

Fund Balance - Beginning 427,693 343,660 343,659 513,094 169,435

Fund Balance - Ending 343,660$ 513,094$ 343,659$ 548,432$ 204,773$

DENTAL FUND

EXPENDITURE AND TRANSFER DETAIL


Dental Fund Page 7


2016-2017 2017-2018 2018-2019 2018-2019



REVENUES

Local Sources 281,327$ 265,144$ 292,000$ 42,503 (249,497)$ 15%

TOTAL REVENUES 281,327 265,144 292,000 42,503 (249,497) 15%

EXPENDITURES

Instructional 13,141 6,631 7,400 2,193 14,999 30%

Support Services

Student Support - - - - - 0%

Instructional Staff Support 141,132 137,097 142,871 69,942 72,929 49%

General Administration - - - - - 0%

School Administration 45,598 50,778 56,402 25,381 31,021 45%

Business Services - - - - - 0%

Operations & Maintenance 50,402 39,796 71,127 25,870 45,257 36%

Student Transportation - - - - - 0%

Other Support Services 5,279 5,323 14,200 6,336 7,864 45%

TOTAL EXPENDITURES 255,552 239,626 292,000 129,721 162,279 44%

Net Change in Fund Balance 25,775 25,518 - (87,218) (87,218)

Fund Balance - Beginning 92,289 118,064 105,164 143,582 (38,418)

Fund Balance - Ending 118,064$ 143,582 105,164$ 56,364$ (125,636)$

POUDRE LEARNING CENTER FUND



Poudre Learning Center Fund Page 8


2016-2017 2017-2018 2018-2019 2018-2019



REVENUES

Other Local Revenue 55,756 2,182 40,000 0 (40,000) 0%

TOTAL REVENUES 55,756 2,182 40,000 0 (40,000) 0%

EXPENDITURES

Instructional - - - - - 0%

Support Services

Student Support - 665,098 - 182,512 (182,512) 0%

Operations & Maintenance - 1,111,766 - 2,180,276 (2,180,276) 0%

Student Transportation - 4,795 - - - 0%

Other Support Services 1,662,212 2,008,487 1,990,000 1,196,867

Capital Outlay - 3,919,115 - - - 0%

TOTAL EXPENDITURES 1,662,212 7,709,261 1,990,000 3,559,655 (1,569,655) 179%

EXCESS OF REVENUES OVER

(UNDER) EXPENDITURES (1,606,456) (7,707,079) (1,950,000) (3,559,655) 1,609,655 183%


General Fund 1,700,000 5,950,000 1,950,000 975,000 975,000 50%

Insurance Recoveries - 3,237,634 - 2,644,417 (2,644,417) 0%

TOTAL OTHER FINANCING SOURCES (USES) 1,700,000 9,187,634 1,950,000 3,619,417 (2,644,417) 186%

Net Change in Fund Balance 93,544 1,480,555 - 59,762 (1,034,762)

Fund Balance - Beginning 300,430 393,974 393,974 1,874,529 (1,480,555)

Fund Balance - Ending 393,974$ 1,874,529$ 393,974$ 1,934,291$ (1,540,317)$

RISK MANAGEMENT FUND



Risk Management Fund Page 9


2016-2017 2017-2018 2018-2019 2018-2019



REVENUES

Local Sources -$ -$ -$ -$ -$ 0%

TOTAL REVENUES - - - - - 0%

EXPENDITURES

Instructional 2,037,981 2,112,833 2,259,887 1,086,324 (1,173,563) 48%

Support Services

Student Support - - - - 0%

Instructional Staff Support 95,705 110,437 117,352 43,197 (74,155) 37%

General Administration - - - - - 0%

School Administration 81,631 70,337 102,278 49,339 (52,939) 48%



(UNDER) EXPENDITURES (2,215,317) (2,293,607) (2,479,517) (1,178,860) (1,300,657) 48%


General Fund 2,246,072 2,309,208 2,457,517 1,228,759 (1,228,759) 50%

TOTAL OTHER FINANCING SOURCES (USES) 2,246,072 2,309,208 2,457,517 1,228,759 (1,228,759) 50%

Net Change in Fund Balance 30,755 15,601 (22,000) 49,899 71,899

Fund Balance - Beginning 212,076 242,831 242,831 258,432 15,601

Fund Balance - Ending 242,831$ 258,432$ 220,831$ 308,331$ (87,500)$

COLORADO PRESCHOOL PROGRAM FUND



Colorado Preschool Program Fund Page 10


2016-2017 2017-2018 2018-2019 2018-2019



REVENUES

Local Sources 1,296,824$ 1,438,936$ 1,623,000$ 736,107 (886,893) 45%

State Sources 155,131 152,983 177,000 115,720 (61,280) 65%

Federal Sources 8,230,203 7,830,868 9,300,000 4,139,958 (8,563,893) 45%

TOTAL REVENUES 9,682,158 9,422,787 11,100,000 4,991,784 (8,563,893) 45%

EXPENDITURES

Supporting Services -

Operations & Maintenance 18,923 18,699 24,500 9,998 14,502 41%

Food Service Operations 9,787,192 10,358,737 11,375,500 5,124,112 6,251,388 45%

Capital Outlay 182,034 34,353 - - - 0%



(UNDER) EXPENDITURES (305,991) (989,002) (300,000) (142,325) (157,675)


General Fund - - 300,000 150,000 (150,000) 50%

TOTAL OTHER FINANCING SOURCES (USES) - - 300,000 150,000 (150,000) 50%

Net Change in Fund Balance (305,991) (989,002) - 7,675 7,675

Net Assets - Beginning, as Restated 2,155,234 1,849,243 1,349,243 860,241 (489,002)

Net Assets - Ending 1,849,243$ 860,241$ 1,349,243$ 717,915$ (646,677)$

FOOD SERVICE FUND



Food Service Fund Page 11


-

2,000,000

4,000,000

6,000,000

8,000,000

10,000,000

12,000,000

Food Service Fund Revenues

2016-2017 Audited 2017-2018 Audited 2018-2019 YTD

-

2,000,000

4,000,000

6,000,000

8,000,000

10,000,000

12,000,000

Food Service Fund Expenditures

Expenditures 2016-2017 Audited Expenditures 2017-2018 Audited Expenditures 2018-2019 YTD

Food Service Fund Revenues and Expenditures Graphs Page 12


2016-2017 2017-2018 2018-2019 2018-2019



REVENUES

Local Sources 1,221,088$ 1,446,811$ 1,750,000$ 502,796$ (1,247,204) 29%

State Sources 901,297 2,005,036 1,500,000 2,122,678 622,678 142%

Federal Sources 13,212,782 13,098,846 14,500,000 6,460,355 (8,039,645) 45%

TOTAL REVENUES 15,335,167 16,550,693 17,750,000 9,085,830 (8,664,170) 51%

EXPENDITURES

Current

Instruction 7,458,256$ 7,460,611$ 8,234,625$ 2,538,990$ (5,695,635)$ 31%

Support Services

Student Support 2,815,310 3,495,215 3,844,127 1,463,197 (2,380,930) 38%

Instructional Staff Support 2,664,399 4,038,856 4,215,541 1,689,292 (2,526,249) 40%

School Administration 777,682 577,662 463,745 57,815 (405,930) 12%

Business Services 92,098 99,161 86,031 47,727 (38,304) 55%

Operations & Maintenance - 632,124 860,060 499,391 (360,669) 58%

Student Transportation 75,954 42,275 38,695 18,695 (20,000) 48%

Other Support Services 5,179 - 7,176 14,884 7,708 207%

Capital Outlay 1,446,289 204,789 - - - 0%


Net Change in Fund Balance - - - 2,755,841 -

Fund Balance - Beginning - - - - -

Fund Balance - Ending -$ -$ -$ 2,755,841$ -$

GRANTS FUND



Grants Fund Page 13


2016-2017 2017-2018 2018-2019 2018-2019



REVENUES

Local Sources 503,970$ 524,513$ 560,000$ 110,946$ (449,054)$ 20%

State Sources 762,998 807,903 828,000 371,828 (456,172) 45%

TOTAL REVENUES 1,266,968 1,332,416 1,388,000 482,774 (905,226) 35%

EXPENDITURES

Current

Instruction 1,186,761$ 1,252,526$ 1,342,663$ 458,737$ 883,926$ 34%

Support Services

Student Support - - - 10,884 (10,884) 0%

Instructional Staff Support 45,170 50,443 50,445 24,583 25,862 49%

School Administration 269,571 282,147 275,547 115,373 160,174 42%

Other Support Services - - - - - 0%

Capital Outlay - 10,906 - - - 0%

TOTAL EXPENDITURES 1,501,502 1,596,022 1,668,655 609,577 1,059,078 37%

Excess (Deficiency) of Revenues

Over (Under) Expenditures (234,534) (263,606) (280,655) (126,803) (153,852) 45%


General Fund 234,534 263,606 280,655 140,328 140,328 50%

TOTAL OTHER FINANCING SOURCES (USES) 234,534 263,606 280,655 140,328 140,328 50%

Net Change in Fund Balance - - - (267,130) 267,130

Fund Balance - Beginning - - - - -

Fund Balance - Ending -$ -$ -$ (267,130)$ 267,130$

PLATTE VALLEY YOUTH SERVICES CENTER FUND



Platte Valley Youth Services Center Fund Page 14


2016-2017 2017-2018 2018-2019 2018-2019

Audited Auudited Adopted YTD % Actual /


REVENUES

Local Sources

Property Taxes 10,340,426$ 12,809,548$ 10,486,359$ 362,525$ (10,123,834)$ 3%

Investment Earnings (10,680) 23,677 - 65,374 65,374 100%

TOTAL REVENUES 10,329,746 12,833,225 10,486,359 427,899 (10,058,460) 4%

EXPENDITURES

Current

Fiscal Charges 7,040 4,272 20,000 1,320 18,680 7%

Debt Service

Principal 8,037,294 8,662,282 9,077,571 9,077,571 - 100%

Interest 1,483,963 1,155,692 877,804 476,451 401,353 54%

TOTAL EXPENDITURES 9,528,297 9,822,246 9,975,375 9,555,342 420,033 96%

Net Change in Fund Balance 801,449 3,010,979 510,984 (9,127,443) (9,638,427)

Fund Balance - Beginning 12,572,191 13,373,640 13,867,054 16,384,619 (2,517,565)

Fund Balance - Ending 13,373,640$ 16,384,619$ 14,378,038$ 7,257,176$ (12,155,992)$

BOND REDEMPTION FUND



Bond Redemption Fund Page 15


2016-2017 2017-2018 2018-2019 2018-2019



REVENUES

Local Sources

Investment Earnings 20,552$ 36,745$ 30,000$ 2,456$ (27,544)$ 8%

Other 4,180,049 - - 329,703 329,703 100%

TOTAL REVENUES 4,200,601 36,745 30,000 332,160 302,160 1107%

EXPENDITURES

Support Services

Operations & Maintenance 196,604 1,918,520 3,530,000 1,125,714 2,404,286 32%

Student Transportation - - - - - 0%

Other Support Services - - - 48,634 (48,634) 0%

Capital Outlay 3,174,308 3,862,824 - - - 0%

3,370,912 5,781,345 3,530,000 1,174,348 2,355,652 33%

TOTAL EXPENDITURES


(UNDER) EXPENDITURES 829,689 (5,744,600) (3,500,000) (842,188) (2,657,812) 24%


General Fund 2,000,000 4,500,000 3,500,000 1,750,000 1,750,000 50%

Insurance Recoveries - 941,099 - - - 0%

TOTAL OTHER FINANCING SOURCES (USES) 2,000,000 5,441,099 3,500,000 1,750,000 1,750,000 50%

Net Change in Fund Balance 2,829,690 (303,501) - 907,812 (907,812)

Fund Balance - Beginning 1,706,167 4,535,857 2,535,857 4,232,356 (1,696,499)

Fund Balance - Ending 4,535,857$ 4,232,356$ 2,535,857$ 5,140,168$ (2,604,311)$

CAPITAL PROJECTS FUND



Capital Projects Fund Page 16


2016-2017 2017-2018 2018-2019 2018-2019

Audited Audited Adopted YTD

Actual Actual Budget Actual

Student Activities Fund

Beginning Balance 949,465$ 1,087,136$ 1,087,136$ 1,151,376$

Receipts 1,599,377 1,598,921 1,750,000 819,143

Total Resources 2,548,842 2,686,057 2,837,136 1,970,519

Disbursements 1,461,706 1,534,681 1,750,000 644,959

Ending Balance 1,087,136$ 1,151,376$ 1,087,136$ 1,325,560$

Scholarships Fund

Beginning Balance 112,980$ 420,497$ 550,497$ 546,548$

Receipts 311,318 141,247 150,000 102,543

Total Resources 424,298 561,744 700,497 649,091

Disbursements 3,801 15,196 20,000 7,600

Ending Balance 420,497$ 546,548$ 680,497$ 641,491$

Athletics Fund

Beginning Balance 209,718$ 207,184$ 207,184$ 172,482$

Receipts 221,677 221,821 300,000 150,323

Total Resources 431,395 429,005 507,184 322,805

Disbursements 224,212 256,522 300,000 103,873

Ending Balance 207,184$ 172,482$ 207,184 218,932

Total Agency Fund Balance 1,714,817$ 1,870,406$ 1,974,817$ 2,185,983$

AGENCY FUNDS



Agency Funds Page 17

weld county school district 6 - greeleyschools.org

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