1 / 10

Treasurer’s Report February, 2009

Treasurer’s Report February, 2009. Board of Education Meeting Park Hill School District March 26, 2009. PAGE 1. TREASURER’S REPORT February, 2009. Revenue February Operating Revenue = $5,416,586. Major Revenue Items. PAGE 1. TREASURER’S REPORT February, 2009. Revenue Notes

brigit
Download Presentation

Treasurer’s Report February, 2009

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Treasurer’s ReportFebruary, 2009 Board of Education Meeting Park Hill School District March 26, 2009

  2. PAGE 1 TREASURER’S REPORTFebruary, 2009 Revenue February Operating Revenue = $5,416,586 Major Revenue Items

  3. PAGE 1 TREASURER’S REPORTFebruary, 2009 Revenue Notes • Current YTD Revenues at or Exceed Budget • Delinquent Taxes • Financial Institution Tax • In Lieu of Tax • Tuition • 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 REPORTFebruary, 2009 Debt Service Revenue • Current Taxes YTD Receipts = $7,806,302 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 REPORTFebruary, 2009 • February Operating Expenditure Total $30,545,041 • All expenditures within district budgeted amounts

  6. PAGE 3 TREASURER’S REPORTFebruary, 2009 Expenditure Notes • Expenditures currently within budgeted amounts • % of budget obligated by February 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 • Large February Expenditure: $21,420,177 in debt service expenditures due in March, 2009 (escrowed from refinance)

  7. TREASURER’S REPORTCash Flow PAGE 4 Operating Receipts: $5,415,959 Operating Expenditures: ($8,681,610) ($3,265,651)

  8. TREASURER’S REPORTFebruary, 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 $21.0 million)

  9. PAGE 5 TREASURER’S REPORTFebruary, 2009 FY2009 Invested Money • February revenue strategically invested to mature to meet monthly cash flow needs • Yields lower than budgeted • February, 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 ReportFebruary, 2009 Board of Education Meeting Park Hill School District March 26, 2009

More Related