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Treasurer’s Report July, 2011

Treasurer’s Report July, 2011. Board of Education Meeting Park Hill School District August 25, 2011. TREASURER’S REPORT July, 2011. July Treasurer’s Report Represents First Month of Fiscal Year 2011-2012 (FY2012) Year-To-Date Values Reset Low Revenue Month

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Treasurer’s Report July, 2011

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  1. Treasurer’s ReportJuly, 2011 Board of Education Meeting Park Hill School District August 25, 2011

  2. TREASURER’S REPORTJuly, 2011 • July Treasurer’s Report • Represents First Month of Fiscal Year 2011-2012 (FY2012) • Year-To-Date Values Reset • Low Revenue Month • Drop in Local Services (i.e. Food Service, Community Services) • Federal Programs • Low Expenditures Month • July teacher payroll paid in FY2011

  3. PAGE 1 TREASURER’S REPORTJuly, 2011 Revenue July Operating Revenue = $2,872,775 Major Revenue Items

  4. PAGE 2 TREASURER’S REPORTJuly, 2011 Debt Service Revenue • July Debt Service Revenue = $71,402 • 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 REPORTJuly, 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 enrollment/attendance will impact state foundation formula budget and receipts

  6. PAGE 3 TREASURER’S REPORTJuly, 2011 • July Expenditure Total $6,192,043 July is the first month of the fiscal year. Bond project expenditures = $1,761,436

  7. PAGE 3 TREASURER’S REPORTJuly, 2011 Expenditure Notes • July/August represent lowest expenditure months • 2011-2012 teacher salary expenditures begin in September, 2011 • Expenditures within budgeted amounts • Better idea of expenditures based upon official enrollment and staffing levels related to enrollment (i.e. Teachers, Teacher Assistants)

  8. PAGE 4 TREASURER’S REPORTJuly, 2011 FY2012 Invested Money • Money invested strategically to meet monthly cash flow demands • Yield rates of 0.25% to 0.50%

  9. TREASURER’S REPORTCash Flow PAGE 5 Operating Receipts: $2,872,775 Operating Expenditures: ($4,430,357) (1,557,582)

  10. TREASURER’S REPORTJuly, 2011 July 1 Fund Balance • Beginning Operating Fund 1 Unrestricted Balance $21.1 million • Includes $1.3 million in Federal Jobs Bill Monies • 19.10% of FY2011 Operating Expenditures • 9 weeks of Operating Cash

  11. Treasurer’s ReportJuly, 2011 Board of Education Meeting Park Hill School District August 25, 2011

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