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INDEPENDENCE LOCAL SCHOOLSBoard Meeting 10-18-2016
September 2016 Financial Reports
Exhibit #2
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Fiscal Year 2017 Revenue Collection by Fund Exhibit #2
Independence Local Schools
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FY‐17 % of Projected % of Fiscal % of Projected % of Fiscal Amount Fiscal Month Available Revenue Year Revenue Year
Fund Description Fund Budgeted To date To Date Balance Collected Completed Outstanding Remaining
General 001 16,777,619$ 6,859,993$ 145,750$ 9,917,626$ 40.89% 25.00% 59.11% 75.00%Bond Retirement 002 1,127,500 518,880 ‐ 608,620 46.02% 25.00% 53.98% 75.00%Permanent Improvement 003 720,000 254,140 ‐ 465,860 35.30% 25.00% 64.70% 75.00%Building 004 ‐ ‐ ‐ ‐ 0.00% 25.00% 0.00% 75.00%Food Service 006 301,500 37,463 19,062 264,037 12.43% 25.00% 87.57% 75.00%Endowment 008 ‐ ‐ ‐ ‐ 0.00% 25.00% 0.00% 75.00%Uniform School Supplies 009 876 550 550 326 0.00% 25.00% 0.00% 75.00%Public Sch. Support 018 59,605 12,057 11,210 47,548 20.23% 25.00% 79.77% 75.00%Other Grants 019 ‐ ‐ ‐ ‐ 0.00% 25.00% 0.00% 75.00%District Agency 022 12,600 ‐ ‐ 12,600 0.00% 25.00% 100.00% 75.00%Student Managed Activity 200 225,896 71,441 28,259 154,455 31.63% 25.00% 68.37% 75.00%District Managed Activity 300 96,000 26,751 21,347 69,249 27.87% 25.00% 72.13% 75.00%State Grants 400 277,900 69,831 ‐ 208,069 25.13% 25.00% 74.87% 75.00%Federal Grants 500 106,119 ‐ ‐ 106,119 0.00% 25.00% 100.00% 75.00%
19,705,615$ 7,851,105$ 226,178$ 11,854,510$ 39.84% 25.00% 60.16% 75.00%
Exhibit # 2General Fund Revenue Collection
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Month End 9‐30‐2016 Fiscal Year 2017Actual Budget/Estimate Variance Actual Budget/Estimate Variance
Real Estate ‐$ ‐$ ‐$ 6,172,485$ 6,172,485$ ‐$ TPP (PUPP only) ‐ ‐ ‐ 238,473 238,473 ‐ Foundation 60,208 62,900 (2,692) 202,115 204,807 (2,692) Restricted Grants ‐ ‐ ‐ ‐ ‐ ‐ Home/Roll & TPP Reimb ‐ ‐ ‐ ‐ ‐ ‐ Other/Misc. 85,542 50,000 35,542 246,919 211,377 35,542
Total Revenue: 145,750$ 112,900$ 32,850$ 6,859,992$ 6,827,142$ 32,850$
Fiscal Year 2017 Expenditure Projection by Fund Exhibit #2
Independence Local Schools
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Fy‐17 w/o Encumb. % of Fiscal % of Fiscal Amount Fiscal Month Current Available % of Projected Year % of Budget Year
Fund Description Fund Expendable To date To Date Encumbrances Balance Expended Completed Available Remaining
General 001 16,542,206$ 3,849,646$ 1,606,113$ 1,913,137$ 10,779,424$ 23.27% 25.00% 76.73% 75.00%Bond Retirement 002 1,058,990 5,434 ‐ 1,038,990 14,566$ 0.51% 25.00% 99.49% 75.00%Permanent Improvement 003 1,063,454 631,873 70,942 123,576 308,006$ 59.42% 25.00% 40.58% 75.00%Building 004 ‐ ‐ ‐ ‐ ‐$ 0.00% 25.00% 0.00% 75.00%Food Service 006 300,405 48,380 23,719 32,157 219,869$ 16.10% 25.00% 83.90% 75.00%Endowment 008 3,868 250 ‐ ‐ 3,618$ 6.46% 25.00% 93.54% 75.00%Uniform School Supplies 009 3,000 ‐ ‐ ‐ 3,000$ 0.00% 25.00% 100.00% 75.00%Public Sch. Support 018 57,175 6,787 6,547 23,746 26,642$ 11.87% 25.00% 88.13% 75.00%Other Grants 019 ‐ ‐ ‐ ‐ ‐$ 0.00% 25.00% 0.00% 75.00%District Agency 022 12,150 ‐ ‐ ‐ 12,150$ 0.00% 25.00% 100.00% 75.00%Student Managed Activity 200 231,275 86,078 57,648 25,296 119,902$ 37.22% 25.00% 62.78% 75.00%District Managed Activity 300 96,000 38,273 15,345 34,922 22,804$ 39.87% 25.00% 60.13% 75.00%State Grants 400 342,419 45,130 34,190 80,617 216,673$ 13.18% 25.00% 86.82% 75.00%Federal Grants 500 106,119 14,554 13,325 1,405 90,160$ 13.71% 25.00% 86.29% 75.00%
19,817,061$ 4,726,403$ 1,827,829$ 3,273,844$ 11,816,814$ 23.85% 25.00% 76.15% 75.00%
Exhibit #2
General Fund Expenditure
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Month End 9‐30‐2016 FYTD‐2017Actual Budget/Estimate Variance Actual Budget/Estimate Variance
Personnel/Salaries 1,012,841$ 1,128,048$ (115,207)$ 2,277,574$ 2,392,781$ (115,207)$ Benefits 314,591 345,325 (30,734) 773,261 803,995 (30,734) Purchased Services 49,747 205,001 (155,254) 368,224 523,478 (155,254) Supplies 123,204 85,664 37,540 182,189 144,649 37,540 Equipment 99,260 122,569 (23,309) 150,482 173,791 (23,309) Debt Service ‐ ‐ ‐ ‐ ‐ ‐ Other/Misc. 6,470 10,737 (4,267) 97,915 102,182 (4,267) Transfers ‐ ‐ ‐ ‐ ‐ ‐
1,606,113$ 1,897,344$ (291,231)$ 3,849,645$ 4,140,876$ (291,231)$
Fiscal Year 2017 vs. Fiscal Year 2016 Exhibit #2
General Fund Monthly Expense Comparison
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July‐16 August‐16 September‐16 Total FYTD‐17Fiscal Year 2017 Expenses Expenses Expenses Expenses
3 Pay Month
Salaries 623,172$ 641,561$ 1,012,841$ 2,277,574$ Benefits 230,356$ 228,314$ 314,591$ 773,261$ Purchase Services 132,921$ 185,556$ 49,747$ 368,224$ Supplies 24,198$ 34,787$ 123,204$ 182,189$ Capital Outlay ‐$ 51,222$ 99,260$ 150,482$ Other Expenses 998 90,447 6,470 97,915$
Total Expenses 1,011,645$ 1,231,887$ 1,606,113$ 3,849,645$
July‐15 August‐15 September‐15 Total FYTD‐16Fiscal Year 2016 Expenses Expenses Expenses Expenses
Salaries 617,489 713,464 646,268 1,977,221 Benefits 230,628 291,253 244,701 766,582 Purchase Services 68,431 238,542 201,445 508,418 Supplies 7,302 74,553 61,529 143,384 Capital Outlay 10,734 115,598 6,341 132,673 Other Expenses 1,209 84,719 9,553 95,481
Total Expenses 935,793$ 1,518,129$ 1,169,837$ 3,623,759$
Over/(Under) Previous Yr. 75,852$ (286,242)$ 436,276$ 225,886$
Over/UnderSalaries Benefits Purchase Services Supplies Capital Outlay Other Expenses Previous Yr.
300,353 6,679 (140,194) 38,805 17,809 2,434 225,886$
• September 2016 three pay month.
• October 2015 three pay month.
Fiscal Year 2017 Cash Flow by Fund Exhibit #2
Independence Local Schools
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7/1/2016 Fiscal Fiscal 9/30/2016Cash Yr. to Date Yr. to Date Cash
Fund Description Fund Balance Revenue Expenditures Balance
General 001 $8,781,730 6,859,993$ 3,849,646$ $11,792,077Bond Retirement 002 3,080,153 518,880 5,434 3,593,599 Permanent Improvement 003 508,872 254,140 631,873 131,139 Building 004 ‐ ‐ ‐ ‐ Food Service 006 4,001 37,463 48,380 (6,916) Endowment 008 7,486 ‐ 250 7,236 Uniform School Supplies 009 10,721 550 ‐ 11,271 Public Sch. Support 018 30,196 12,057 6,787 35,466 Other Grants 019 ‐ ‐ ‐ ‐ District Agency 022 5,797 ‐ ‐ 5,797 Student Managed Activity 200 266,194 71,441 86,078 251,558 District Managed Activity 300 4,609 26,751 38,273 (6,913) State Grants 400 64,436 69,831 45,130 89,137 Federal Grants 500 ‐ ‐ 14,554 (14,554)
$12,764,196 $7,851,105 $4,726,403 $15,888,898
Exhibit #2
Actual Month-End General Fund Cash Balance
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Fiscal year 2017 Exhibit #3Investment/Reconciliation Report
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Sep‐16 Monthly Rate Interest cytd NFS
Star Oho 1,316,222.22$ 0.55% 804.64$ 5,687.58$ 65.00$ Star Plus 11,013,970.43 0.40% 3,839.14$ 26,982.74$ 68.00$ Dollar Bank 51,803.94 0.15% 6.37$ 215.09$ 215.00$ Dollar Bank 519,147.52 Dollar Bank 99,505.14 Independence Bk Savings 884,515.56 0.20% 80.83 541.51 ‐ Independence Bk Checking 285,856.42 n/a ‐ ‐ ‐ Independence Bk CD 500,000.00 0.30% ‐ 1,516.67 Independence Bk CD 1,500,000.00 0.30% ‐ 2,275.00
Total Balance Per Bank Statement 16,171,021.23$ 4,730.98$ 37,218.59$ $348.00
E/Z Pay Dept. not recorded 1,067.00 In‐Trans.Deposits In Transit 107.60 ‐ H/S CaféNFS 348.00 107.60 M/S CaféOutstanding Checks (184,141.00) ‐ P/S CaféOutstanding Payroll checks (99,505.14) 107.60$ Adjusted Total BalancePer Bank Statement 15,888,897.69
Fund Balances 15,888,897.69
Difference ‐$
Check RegisterInformational Item Warrants over $1,500
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9‐1‐2016 to 9‐30‐2016Check Amount Vendor Description Check Amount Vendor Description10263 1,525 Arslanian Bros. Carpet cleaning 800927 5,297 Medicare/Fica Payroll benefits10267 1,531 CED Inc. Stadium lights 10487 5,334 CZ Landscaping LLC P/S playground10311 1,532 Supplyworks Custodial supplies 800925 5,422 Medicare/Fica Payroll benefits10475 1,540 Tele‐Solutions, Inc. Additional phones 10442 5,473 BSN Sports Athletic appraisal 10262 1,614 A & A Hydraulic Repair Co. Maintenance equipment 10502 5,523 Taylor Consulting Group, LLC Roof general cont. services10264 1,778 AT&T Phone services 10268 5,550 Chargrin Valley Conf. Conference Fee10363 1,792 Really Good Stuff Classroom supplies 800929 5,695 Medicare/Fica Payroll benefits10467 1,902 Redshift Technology Locker room Technology 10290 6,052 Jay H. Berk, Ph. D, Inc. Student Services10468 1,913 Responsive Learning, LP Instructional materials 10325 6,199 Bright Ideas Instructional materials10285 1,959 Home Depot Maint/Cust. Supplies 10440 7,640 Barons Bus Class trip transportation 10476 1,985 Turnitin, LLC Instructional supplies 10489 8,722 Embassy Suites Dulles Airport class trip hotel10406 2,100 Rogers Athletics Football supplies 10280 8,858 Enviro Chemical Custodial supplies10350 2,118 Bright Ideas Press Instructional materials 10383 9,288 BSN Sports Athletic appraisal 10302 2,351 PSI Associates Contracted services 10307 9,350 Sherwin Williams Co. Field house 10505 2,402 SERS Retirement benefits 10481 9,536 Amazon.com Tech./Instructional materials10496 2,544 Phonak hearing Systems Special Ed. Equipment 10495 18,347 Nowak Tour & Travel Class trip 10424 2,660 n2y Instructional materials 10430 19,766 G & G, Inc Auxiliary Services10343 2,688 Supplyworks Sloan Faucets H/S 10486 23,833 Buckeye Surface Maintenance Asphalt BOE10330 2,696 Friends Business Source Classroom supplies 10336 24,725 McGraw‐Hill Education Instructional materials10388 2,767 Dawn Sign Press Instructional materials 10318 32,210 SERS Retirement benefits10348 2,794 Macgill supplies Classroom supplies 10345 35,687 Tele‐Solutions, Inc. Phone system10436 2,892 William Sadler, Inc. Instructional materials 10506 36,026 SERS Retirement benefits10405 2,899 Premier Agendas, Inc. Student planners 10320 37,356 STRS Retirement benefits10286 2,995 IMEX, Inc. Medical Evaluation 10508 37,750 STRS Retirement benefits10441 3,192 BrainPop Instructional materials 10258 37,831 STRS Retirement benefits10444 3,204 Carolina Biological Supplest Instructional supplies 10305 91,164 Royal Business Equipment Co. Chromebook10269 3,220 Cleveland Electric Field House upgrade 10261 134,069 Orange City Schools Medical Premiums10298 3,778 Ohio School Council Membership fees 800926 342,658 Payroll Transfer10469 4,166 Rettig Music, Inc. Music supplies 800924 350,179 Payroll Transfer10371 4,240 WILSON LANGUAGE TRAINING Classroom supplies 800928 355,575 Payroll Transfer10443 4,413 Buckeye International, Inc. Custodial supplies10319 5,078 STRS Retirement benefits10507 5,078 STRS Retirement benefits10257 5,153 STRS Retirement benefits
Projected General Fund Monthly Cash Flow
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Monthly Cafeteria Report – Fiscal Year 201
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FY‐17 2016 2016 2016 FY‐2017July August September Total
ReceiptsHigh Sch. ‐ 5,032 166 5,199
Middle Sch. ‐ 6,321 6,289 12,610 Primary Sch. 175 6,872 6,319 13,366
Other ‐ ‐ 6,289 6,289 Total Receipts 175 18,226 19,062 37,463
Expenditures 3 pay month TotalHigh Sch. 2,416 2,416 5,963 10,795
Middle Sch. 3,189 3,189 7,116 13,493 Primary Sch. 2,867 2,704 6,102 11,674
Other 7,380 500 4,538 12,418 Total Expenditures 15,852 8,809 23,719 48,380
FY‐2017 Balance to Date: 4,001 (6,916) FY‐16 2015 2015 2015 FY‐2016
July August September TotalReceipts
High Sch. ‐ 5,464 6,318 11,783 Middle Sch. ‐ 7,358 6,650 14,008 Primary Sch. 190 7,264 7,457 14,911
Other 209 64 21 294 Total Receipts 399 20,151 20,446 40,996
Expenditures TotalHigh Sch. 1,142 982 2,838 4,962
Middle Sch. 3,089 3,089 6,759 12,936 Primary Sch. 3,522 3,522 4,346 11,390
other 9,369 500 7,415 17,284 Total Expenditures 17,121 8,093 21,357 46,571
FY‐2016 Balance to Date: 1,019 (4,556)
FY‐2016 FY‐2017 Inc./Dec.July ‐ July ‐ over
Sept. 30 Sept. 30 Previous yr.Salaries 30,613 29,724 (889)Benefits 8,156 10,775 2,620Purch. Serv. 6,812 7,880 1,068Supplies 990 ‐ (990)
46,571 48,380 1,808
Expenditure Categories:
Expenditure Categories:
FY‐2016 FY‐2017 Inc./Dec.July ‐ July ‐ over
Sept. 30 Sept. 30 Previous yr.Sales Type A 40,701 37,297 (3,405)Misc., Vending 294 166 (128)State Subsidy ‐ ‐ ‐ Federal Subsidy ‐ ‐ ‐ Transfer ‐ ‐ ‐
40,996 37,463 (3,533)
Revenue Categories:
Revenue Categories:
Cafeteria Meals Served Comparison
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FY‐15 2014 2014 2014 2014 2015 2015 2015 2015 2015 2015 FY‐2015September October November December January February March April May June Total
Meals Served/# Serving Days 27 22 16 15 17 15 22 16 20 3 173
High Sch. 2,415 1,988 1,394 1,048 1,526 1,309 1,928 1,404 1,482 60 14,554 Middle Sch. 2,085 1,794 1,231 1,042 1,306 1,147 1,587 1,093 1,359 119 12,763 Primary Sch. 3,320 2,901 2,132 1,999 2,177 1,986 2,846 2,171 2,404 354 22,290
Total Meals Served 7,820 6,683 4,757 4,089 5,009 4,442 6,361 4,668 5,245 533 49,607 FY‐16 2015 2015 2015 2015 2016 2016 2016 2016 2016 2016 FY‐2016
September October November December January February March April May June TotalMeals Served/# Serving Days 28 21 17 17 18 19 18 16 21 1 176
High Sch. 2,234 1,666 1,351 1,351 1,373 1,463 1,326 1,243 1,209 3 13,219 Middle Sch. 2,290 1,655 1,415 1,415 1,542 1,613 1,463 1,658 1,782 ‐ 14,833 Primary Sch. 3,449 2,983 2,499 2,499 2,484 2,676 2,595 2,859 2,854 162 25,060
Total Meals Served 7,973 6,304 5,265 5,265 5,399 5,752 5,384 5,760 5,845 165 53,112
Inc./Dec. over previous yr. Over/Under Previous Yr: 3,505
Café: Revenue/Expenditure Summary
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FY‐2016 FY‐2015 Inc./Dec.July ‐ July ‐ overJune 30 June 30 Previous yr.
Salaries 138,955 134,707 4,249Benefits 31,999 34,515 (2,516)Purch. Serv. 11,319 11,956 (637)Supplies 115,023 104,631 10,392
297,296 285,808 11,488
Expenditure Categories:
Expenditure Categories:
Expenditure Categories: FY‐2016 FY‐2015 FY‐2014 FY‐2013 FY‐2012 FY‐2011Salaries 138,955$ 134,707$ 142,212$ 131,725$ 128,471$ 129,648$ Benefits 31,999 34,515 36,346 35,804 35,686 41,761 Purchase Services 11,319 11,956 4,236 4,917 1,460 1,009 Supplies 115,023 104,630 113,684 115,175 131,785 137,508
297,296$ 285,808$ 296,477$ 287,621$ 297,402$ 309,925$
Substitute Cost: 10,311 4,700 11,133 4,031 4,800 7,782
Cafeteria Summary of Expenditures
FY‐2016 FY‐2015 Inc./Dec.July ‐ July ‐ overJune 30 June 30 Previous yr.
Sales Type A 207,101 180,173 26,928Misc., Vending 1,688 1,969 (281)State Subsidy 789 861 (72)Federal Subsidy 43,951 44,039 (89)Transfer 46,750 59,000 (12,250)
300,278 286,043 14,236
Revenue Categories:
Revenue Categories:
Athletic: Revenue/Expenditure Summary
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Beginning Balance: 1,346$ 1,434$ 453$ 3,104$ 2,133$ FUND Description FY16 Actual FY15 Actual FY14 Actual FY‐13 Actual FY12 Actual 300 DONATIONS & GIFTS‐BOB ZUBER FUND ‐ 6,250 ‐ 3,970 300 OTHER REVENUES 18,428 21,565 19,296 17,800 13,167 300 ATHLETICS TRANSFER IN 37,000 45,000 18,500 45,000 43,000 300 ADMISSIONS‐BASKETBALL/BOYS 11,148 8,817 9,129 7,278 6,024 300 ADMISSIONS‐SOCCER/BOYS 4,513 1,368 1,392 2,650 2,016 300 ADMISSIONS‐FOOTBALL 13,770 19,001 18,678 12,722 19,202 300 ADMISSIONS‐WRESTLING 312 430 240 294 5,140 300 ADMISSIONS‐GIRLS SPORTS 1,860 1,968 2,184 2,170 2,342 300 ADMISSIONS‐BASKETBALL/GIRLS 3,028 6,406 3,214 2,708 4,037 300 ADMISSIONS‐VOLLEYBALL/GIRLS 4,950 3,454 4,765 3,178 3,354 300 ADMISSIONS‐MIXED SPORTS ‐ 770 855 1,313 1,253 300 DONATIONS‐‐MICKEY ZUBER FUND ‐ 250 78 363 ‐
Total Receipts including Transfers: 95,009 109,029 84,581 95,476 103,505$
Receipts minus Transfers: 58,009$ 64,029$ 66,081$ 50,476$ 60,505$
FUND Description FY‐16 Actual FY‐15 Actual FY‐14 Actual FY‐13 Actual FY12 Actual 300 MILEAGE REIMBURSEMENT‐ COACHES ‐$ 893$ ‐$ 702$ 1,471$ 300 MEETS/TOURNAMENTS ENTRY FEES 9,089 11,666 9,256 8,527 9,338 300 PURCHASED SERVICES‐MIXED SPORTS‐HS 1,500 3,684 1,360 6,377 65 300 COACHES‐MATERIALS/SUPPLIES 45,741 64,556 35,359 53,767 60,530 300 REFEREES/OFFICIALS‐BOYS SPORTS‐HS 16,095 14,688 15,390 16,365 18,405 300 REFEREES/OFFICIALS‐GIRLS SPORTS‐HS 8,745 11,150 10,320 9,465 11,110 300 REFEREES/OFFICIALS‐BOYS SPORTS‐MS 3,935 1,357 2,000 1,875 585 300 REFEREES/OFFICIALS‐GIRLS SPORTS‐MS 1,940 1,025 1,855 1,050 1,030 300 SUPPLIES‐SOCCER/BOYS ‐ 100 ‐ ‐ ‐ 300 SUPPLIES‐WRESTLING 4,700 ‐ ‐ ‐ ‐ 300 Zuber Fund ‐ ‐ 8,060 ‐ ‐
Total Athletic Expenditures 91,746$ 109,117$ 83,599$ 98,127$ 102,534$
Ending Balance: 4,609$ 1,346$ 1,434$ 453$ 3,104$
