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Treasurer’s Report March, 2011

Treasurer’s Report March, 2011. Board of Education Meeting Park Hill School District April 28, 2011. TREASURER’S REPORT March, 2011. March Treasurer’s Report Represents nine months of fiscal year 2010-2011 (FY2011) Year-To-Date Values Reset Each July For New Fiscal Year

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Treasurer’s Report March, 2011

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  1. Treasurer’s ReportMarch, 2011 Board of Education Meeting Park Hill School District April 28, 2011

  2. TREASURER’S REPORTMarch, 2011 • March Treasurer’s Report • Represents nine months of fiscal year 2010-2011 (FY2011) • Year-To-Date Values Reset Each July For New Fiscal Year • Average Revenue Month • Majority of Current Taxes • Average Expenditure Month • March includes seventh month of 2010-2011 teacher payroll

  3. PAGE 1 TREASURER’S REPORTMarch, 2011 Revenue March Operating Revenue = $4,400,386 Major Revenue Items

  4. PAGE 2 TREASURER’S REPORTMarch, 2011 Debt Service Revenue • March Debt Service Revenue • Current Taxes = $58,997 Debt Service Notes • $0.6107 Debt Service Levy Drives Current Tax Revenue • Current Tax Collections Account for Majority of Debt Service Revenue • Debt Service revenue will surpass budget due to $4.5 million refinance action taken in December, 2010 and will require a budget amendment

  5. TREASURER’S REPORTMarch, 2011 Revenue Notes • Missouri Health Services Grant (Impact -$76,000 revenue, FTE cuts) • Extraordinary Costs – Special Education (Impact -$135,000) • Projecting unbudgeted revenue within State Formula (Jobs Bill) • Transfer to FY2012 For Jobs/Salaries

  6. PAGE 3 TREASURER’S REPORTMarch, 2011

  7. PAGE 3 TREASURER’S REPORTMarch, 2011 • March Expenditure Total $9,703,249 • Operating Expenditures = $9,703,249 March is the eighth month of the fiscal year (66.6% of the Year) March payrolls account for $7,212,622 or 74% of March operating expenditures

  8. PAGE 3 TREASURER’S REPORTMarch, 2011 Expenditure Notes • March represents an average operating expenditure month with expenditures typical of most months • Three payrolls • All operating fund expenditures within budgeted amounts • Debt service expenditures higher than budgeted amounts due to 12/2010 refinance (will require a budget amendment in June, 2011)

  9. PAGE 4 TREASURER’S REPORTMarch, 2011 FY2011 Invested Money • Money invested strategically to meet monthly cash flow demands • Yield rates of 0.14% to 0.26%

  10. TREASURER’S REPORTOperating Cash Flow PAGE 5 Operating Receipts: $4,400,386 Operating Expenditures: ($9,703,249) ($5,302,863)

  11. TREASURER’S REPORTMarch, 2011 Fund Balance • July 1 • Beginning Operating Fund Balance dropped from $19.9 million in July, 2009 to $19.2 million in July, 2010 • Drop represents a change from $18.9% to 17.0% of operating expenditures Cash Flow • March, 2011 • Operating cash flow of $50.9 million • Drawn down over next 9 months to meet expenditures

  12. Treasurer’s ReportMarch, 2011 Board of Education Meeting Park Hill School District April 28, 2011

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