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Financial Overview March FY14 3/10/14

Financial Overview March FY14 3/10/14. Summary of Additional Revenue Sources. FY14 Revenue Highlights. *. *. *. *Actual collections received (FY10-FY12) = 101% to 102% (~ $500K to $900K) Actual collections received (FY13) = 100.1% (~$38K).

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Financial Overview March FY14 3/10/14

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  1. Financial OverviewMarch FY143/10/14 March FY14 Financial Overview 3/10/14

  2. Summary of Additional Revenue Sources March FY14 Financial Overview 3/10/14

  3. FY14 Revenue Highlights * * * *Actual collections received (FY10-FY12) = 101% to 102% (~ $500K to $900K) Actual collections received (FY13) = 100.1% (~$38K) * Methodology of calculation changed to simplify and/or make allocation more equitable * Implementation of new cost settlement methodology moved from 7/1/12 to 7/1/13 March FY14 Financial Overview 3/10/14

  4. FY14 Expenditure Highlights –Salary & Benefits * * * * * * * * Regular Full/Part Time Employee Salaries * November/March/May Additional Checks * Stipends/Attendance/Class Coverage/Pupil Teacher Ratio * Vacation/Extra/Sick/Professional Development/AWOP & Vacancy * Employer Health Contribution/Dental/Vision * Long Term Disability/Social Security/Unemployment/Workers Comp * Retirement Paid by Employer March FY14 Financial Overview 3/10/14

  5. FY14 Expenditure Highlights – Non-Salary by Object * * * * * * * * Contracted Services, Collaborations, Trainers * Copiers, Maintenance Agreements, Water/Sewage, 408 $ * Phone & Internet, Insurance, Travel, Purchased Services (Crossing Guards, RESA 8) * School Allocations, Textbooks, Custodial/Maintenance/Transportation Supplies, Utilities, Diesel * Capital Assets, Fees & Dues, Back Pay * Transfers (Child Nutrition/Carryover) * Contingency March FY14 Financial Overview 3/10/14

  6. FY13 Fund Balance Reconciliation March FY14 Financial Overview 3/10/14

  7. FY14 Staffing Overview March FY14 Financial Overview 3/10/14

  8. Projected Revenue Gap March FY14 Financial Overview 3/10/14

  9. FY14 Board Designated Overview March FY14 Financial Overview 3/10/14

  10. FY14 Impact Fee Overview March FY14 Financial Overview 3/10/14

  11. FY14 Referendum Funds Overview March FY14 Financial Overview 3/10/14

  12. Issues of Concern – FY15 and Forward Unknown • Legislative action/mandated new program changes • State/Federal Cuts • Methodology used for calculations – simplification/equity • PEIA • Grants - Reduced funding and/or No funding • Special Education/Medicaid • Centers for Medicare and Medicaid (CMS) rejected WV Dept of Health and Human Resources (DHHR) methodology for transportation ratio Plan • Revenue Gap • Develop 5 year strategic plan to reduce ~$3M “revenue gap” • Identify “sustainable” revenue increases and/or expenditure decreases • Fund Equity (“savings account”) • Target goal of 3% of Fund 11 (General) expenditures ($2.7M) • Excess Levy March FY14 Financial Overview 3/10/14

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