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Treasurer’s Report September, 2011

Treasurer’s Report September, 2011. Board of Education Meeting Park Hill School District October 27, 2011. TREASURER’S REPORT September, 2011. September Treasurer’s Report Represents Third Month (1 st Quarter) of Fiscal Year 2011-2012 (FY2012) Typical Revenue Month Local Services

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Treasurer’s Report September, 2011

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  1. Treasurer’s ReportSeptember, 2011 Board of Education Meeting Park Hill School District October 27, 2011

  2. TREASURER’S REPORTSeptember, 2011 • September Treasurer’s Report • Represents Third Month (1st Quarter) of Fiscal Year 2011-2012 (FY2012) • Typical Revenue Month • Local Services • Typical Expenditure Month • First Certified Teacher Payroll of Fiscal Year

  3. PAGE 1 TREASURER’S REPORTSeptember, 2011 Revenue September Operating Revenue = $5,199,122 Major Revenue Items

  4. PAGE 2 TREASURER’S REPORTSeptember, 2011 Debt Service Revenue • September Debt Service Revenue = $159,155 • Source: Delinquent Tax, Earnings on Investments Debt Service Notes • $0.6107 Debt Service Levy Drives Current Tax Revenue • Current Tax Collections Will Account for Majority of Debt Service Revenue

  5. PAGE 2 TREASURER’S REPORTSeptember, 2011 Revenue Notes • Recommended 2011-2012 tax levy will result in lower budgeted revenue in current taxes ($600,000) • Lower Assessed Valuation in 2011-2012 will result in lower budgeted revenue in debt service taxes ($76,000) • 2011-2012 State Foundation Formula Receipts • Enrollment increase of 100 • Proration estimates held at 92% • Projections currently show $850,000 over budgeted revenue • Prop C Sales Tax • Projections currently show $97,000 over budgeted revenue

  6. PAGE 3 TREASURER’S REPORTSeptember, 2011 • September Expenditure Total $10,335,054 Operating Expenditures = $9,505,429 Debt Service Expenditure = $0 Bond Project Expenditures = $829,625 Payroll Expenditures = $7,513,017

  7. PAGE 3 TREASURER’S REPORTSeptember, 2011 Expenditure Notes • September represents typical expenditure month • October, 2011 through April, 2012 will have similar expenditures • All Expenditures within budgeted amounts • Certified/Classified Staffing levels under budget • Current projections show $475,000 in budgeted staff not yet hired based on need (i.e. class size guidelines, etc.)

  8. PAGE 4 TREASURER’S REPORTSeptember, 2011 FY2012 Schedule of Funds • Money invested strategically to meet monthly cash flow demands • Yield rates of 0.01% to 0.45% on various invested funds • 0.25% on Depository Funds (Contractual Minimum Interest Rate; total balances cannot exceed $10 million)

  9. TREASURER’S REPORTCash Flow PAGE 5 Operating Receipts: $4,199,122 Operating Expenditures: ($9,505,429) ($4,306,307) * Excludes Bond & Debt Service Funds

  10. TREASURER’S REPORTSeptember, 2011 Fiscal Year Beginning Fund Balance • July 1, 2011 • Beginning Operating Fund 1 Unrestricted Balance $21.1 million • 9 weeks of Operating Cash • Includes $1.3 million in Federal Jobs Bill Monies • 19.10% of FY2011 Operating Expenditures • Operating Fund Balance will decrease to an estimated $2 to $4 million by December, 2011 • January, 2012 property tax receipts will increase operating fund balance

  11. Treasurer’s ReportSeptember, 2011 Board of Education Meeting Park Hill School District October 27, 2011

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