COLUMBUS CITY SCHOOLS

Monthly Financial Summary ReportGeneral Fund and related debt service

– April 2016 (FY2015-16)

Columbus Board of Education Meeting

May 17, 2016

2

3

SummaryYTD April 2016 (FY16)

05/17/2016

FYF LN Prior YearCurrent Year Estimate

Current Year Actual

2.080Total Revenues and Other Financing Sources $    684,977,332 $ 707,989,066 $  733,662,404 

5.050Total Expenditures and Other Financing Uses $    642,682,802 $ 676,405,816 $  668,834,731 

Beginning Cash Balance $    120,198,371 $ 138,873,287 $  138,873,287 

Ending Cash Balance $    162,492,902 $ 170,456,538 $  203,700,960 

4

RevenueYTD April 2016 (FY16)

05/17/2016

FYF LN Prior YearCurrent Year Estimate Current Year Actual

1.010 General Property Tax (Real Estate) $    367,945,899  $ 407,610,392  $  406,166,467 

1.020 Tangible Personal Property  $             33,286  $          19,000  $           29,122 

1.035 + 1.040 Unrestr. & Restr. State Grants‐in‐Aid $    254,022,711  $ 244,279,942  $  253,469,400 

1.050 Property Tax Allocation $      31,212,736  $   26,917,474  $    42,825,251 

1.060 All Other Revenues $        8,852,335  $     7,860,000  $    14,753,982 

1.070 Total Revenues $    662,066,967  $ 686,686,808  $  717,244,222 

Other Financing Sources

2.040 Operating Transfers‐In $        4,779,500  $     3,981,258  $      2,581,804 

2.050 Advances‐In $      15,707,139  $   17,196,000  $    13,470,939 

2.060 All Other Financing Sources $        2,423,726  $        125,000  $         365,439 

2.070 Total Other Financing Sources $      22,910,365  $   21,302,258  $    16,418,182 

2.080Total Revenues and Other Financing Sources $    684,977,332  $ 707,989,066  $  733,662,404 

5

ExpendituresYTD April 2016 (FY16)

05/17/2016

FYF LN Prior YearCurrent Year Estimate

Current Year Actual

3.010 + 3.020 Personnel $    445,398,190  $ 460,764,000  $  454,766,626 

3.030 Purchased Services $      38,992,116  $   46,110,413  $    39,601,524 

3.030Charter Schools, STEM, Scholarship, etc. (478, 479) $    124,896,344  $ 126,180,200  $  136,758,844 

3.040 Supplies and Materials $      11,745,055  $   16,301,800  $    16,150,044 3.050 Capital Outlay $        2,567,442  $     5,892,078  $      2,980,748 4.020 Principal‐Notes $        3,280,000  $     2,370,000  $      2,370,000 4.055 Principal‐Other $           657,665  $        657,700  $         657,665 4.060 Interest and Fiscal Charges $           644,697  $        616,625  $         616,672 4.300 Other Objects $        4,464,729  $     4,827,600  $      8,621,934 4.500 Total Expenditures $    632,646,238  $ 663,720,416  $  662,524,055 5.010 Operating Transfers‐Out $        5,422,300  $     5,250,000  $      3,224,604 5.020 Advances‐Out $        4,614,054  $     7,431,400  $      3,082,484 5.030 All Other Financing Uses $                  210  $            4,000  $             3,586 5.040 Total Other Financing Uses $      10,036,564  $   12,685,400  $      6,310,675 

5.050Total Expenditures and Other Financing Uses $    642,682,802  $ 676,405,816  $  668,834,731 

6

Variance SummaryYTD April 2016 (FY16)

05/17/2016

FYF LN Current Yr Over(Under) Estimate $ %

2.080Total Revenues and Other Financing Sources $    25,673,337  3.6%

5.050Total Expenditures and Other Financing Uses $     (7,571,085) ‐1.1%

Beginning Cash Balance $                   ‐ 0.0%

Ending Cash Balance $    33,244,422  19.5%

7

Revenue – VariancesYTD April 2016 (FY16)

05/17/2016

FYF LN Current Yr Over(Under) Estimate $ %

1.010 General Property Tax (Real Estate) $     (1,443,925) ‐0.4%

1.020 Tangible Personal Property  $           10,122  53.3%1.035 + 1.040 Unrestr. & Restr. State Grants‐in‐Aid $      9,189,458  3.8%

1.050 Property Tax Allocation $    15,907,777  59.1%1.060 All Other Revenues $      6,893,982  87.7%1.070 Total Revenues $    30,557,414  4.4%

Other Financing Sources2.040 Operating Transfers‐In $     (1,399,454) ‐35.2%2.050 Advances‐In $     (3,725,061) ‐21.7%2.060 All Other Financing Sources $         240,439  192.4%

2.070 Total Other Financing Sources $     (4,884,076) ‐22.9%

2.080Total Revenues and Other Financing Sources $    25,673,337  3.6%

8

RevenuesYTD Variance from Plan Total Revenues, FY2015-16

05/17/2016

‐$30

‐$20

‐$10

$0

$10

$20

$30

JUL AUG SEP OCT NOV DEC JAN FEB MAR APR

(1.6)

1.0 

(26.9)

(4.2) (3.6) (3.7)

26.6 

(9.8)

8.7 

25.7 

Millions

9

RevenuesYTD Variance from Plan by Source, FY2015-16

05/17/2016

‐$30

‐$20

‐$10

$0

$10

$20

$30

$40

JUL AUG SEP OCT NOV DEC JAN FEB MAR APR

0.6‐5.9 ‐5.4 ‐4.7 ‐4.4 ‐3.6

23.0

‐14.0

2.45.5

‐1.4

7.6

‐19.4

2.6 3.0 3.4

7.3

7.89.0

25.1

‐0.8

‐0.8

‐2.2

‐2.2 ‐2.2 ‐3.5‐3.6

‐3.6

‐2.7 ‐4.9

Millions

Non‐operating

State

Local

10

Revenue – General Property TaxLine 1.010 – Monthly as of April, FY2015-16

05/17/2016

$0

$20

$40

$60

$80

$100

$120

$140

$160

JUL AUG SEP OCT NOV DEC JAN FEB MAR APR MAY JUN

Millions

PLAN

ACTUAL

11

Revenue – General Property TaxLine 1.010 – Accumulative thru April, FY2015-16

05/17/2016

$407.6

$406.2

$0

$50

$100

$150

$200

$250

$300

$350

$400

$450

JUL AUG SEP OCT NOV DEC JAN FEB MAR APR MAY JUN

Millions

PLAN

ACTUAL

12

Revenue – State FoundationLines 1.035 & 1.040 Actual thru April/Projected thru June FY2015-16

05/17/2016

 $‐

 $5

 $10

 $15

 $20

 $25

 $30

 $35

JUL AUG SEP OCT NOV DEC JAN FEB MAR APR MAY JUN

Millions

1.035 &1.040 Plan

1.035 &1.040Actual &Projected

13

Revenue – State FoundationLines 1.035 & 1.040 – Accumulated Actual thru April / Projected thru

June FY2015-16

05/17/2016

$293.1

$302.5

 $‐

 $50

 $100

 $150

 $200

 $250

 $300

 $350

JUL AUG SEP OCT NOV DEC JAN FEB MAR APR MAY JUN

Millions

1.035 & 1.040Plan

1.035 & 1.040Actual &Projected

14

Property Tax Allocation - MonthlyLine 1.050

05/17/2016

$0

$5

$10

$15

$20

$25

$30

JUL AUG SEP OCT NOV DEC JAN FEB MAR APR MAY JUN

Millions

Plan

Actual

15

Property Tax Allocation - YTDLine 1.050

05/17/2016

$0

$10

$20

$30

$40

$50

$60

JUL AUG SEP OCT NOV DEC JAN FEB MAR APR MAY JUN

Millions

Plan

Actual

16

Variance SummaryYTD April 2016 (FY16)

05/17/2016

FYF LN Current Yr Over(Under) Estimate $ %

2.080Total Revenues and Other Financing Sources $    25,673,337  3.6%

5.050Total Expenditures and Other Financing Uses $     (7,571,085) ‐1.1%

Beginning Cash Balance $                   ‐ 0.0%

Ending Cash Balance $    33,244,422  19.5%

17

Expenditures - VariancesYTD April 2016 (FY16)

05/17/2016

FYF LN Current Yr Over(Under) Estimate $ %

3.010 + 3.020 Personnel $     (5,997,374) ‐1.3%

3.030 Purchased Services $     (6,508,889) ‐14.1%

3.030Charter Schools, STEM, Scholarship, etc. (478, 479) $    10,578,644  8.4%

3.040 Supplies and Materials $        (151,756) ‐0.9%3.050 Capital Outlay $     (2,911,330) ‐49.4%4.020 Principal‐Notes $                   ‐ 0.0%4.055 Principal‐Other $                 (35) 0.0%4.060 Interest and Fiscal Charges $                  47  0.0%4.300 Other Objects $      3,794,334  78.6%4.500 Total Expenditures $     (1,196,360) ‐0.2%5.010 Operating Transfers‐Out $     (2,025,396) ‐38.6%5.020 Advances‐Out $     (4,348,916) ‐58.5%5.030 All Other Financing Uses $               (414) 0.0%5.040 Total Other Financing Uses $     (6,374,725) ‐50.3%

5.050 Total Expenditures and Other Financing Uses $     (7,571,085) ‐1.1%

18

ExpendituresYTD Variance, FY2015-16

05/17/2016

‐$15

‐$10

‐$5

$0

$5

$10

JUL AUG SEP OCT NOV DEC JAN FEB MAR APR

$1.0  $0.4 

$4.1 

($11.8) ($12.3)

$8.1 

($11.8)

($14.3)

($9.4)($7.6)

Millions

Total Expenditures

19

ExpendituresYTD Variance by Category, FY2015-16

05/17/2016

‐$15

‐$10

‐$5

$0

$5

$10

$15

$20

JUL AUG SEP OCT NOV DEC JAN FEB MAR APR

‐$5.4 ‐$6.0

$2.3 $4.8 

($6.4) ($6.4)

Millions

Other Financing Uses

Non‐Personnel

Personnel

20

ExpendituresNon-Personnel (Operating) YTD Variance

FY2015-16

05/17/2016

Mar Apr Change

Purchased Services $ (7,855,029) $ (6,508,889) $  1,346,140 Charter Schools, STEM, Scholarship, etc. (478, 479) $ 14,782,844  $ 10,578,644  $ (4,204,200)

Supplies and Materials $ (5,949,429) $    (151,756) $  5,797,673 

Capital Outlay $ (2,371,161) $ (2,911,330) $    (540,169)

Principal‐Other $             (35) $             (35) $               ‐

Interest and Fiscal Charges $               47  $               47  $               ‐

Other Objects $   3,718,438  $   3,794,334  $       75,896 Total Non‐Personnel Operating Expenditures $   2,325,674  $   4,801,014  $  2,475,340 

• Original FY16 Plan was formulated using FY15 %/total for each individual line item

05/17/2016

21

ExpendituresSupplies & Materials - Variance Analysis

FY2015-16

($6,000,000)

($4,000,000)

($2,000,000)

$0

$2,000,000

$4,000,000

$6,000,000

$8,000,000

$10,000,000

$12,000,000

$14,000,000

JUL AUG SEP OCT NOV DEC JAN FEB MAR APR MAY JUN

Monthly ‐ FY15 Actual vs. FY16 Original Plan

Prior Year Actual (FY15)

FY16 Plan

• Revising FY16 Plan using Total Supplies & Materials %/total to allocate – Revised Plan better tracks Prior Year Actual

05/17/2016

22

ExpendituresSupplies & Materials - Variance Analysis

FY2015-16

($6,000,000)

($4,000,000)

($2,000,000)

$0

$2,000,000

$4,000,000

$6,000,000

$8,000,000

$10,000,000

$12,000,000

$14,000,000

JUL AUG SEP OCT NOV DEC JAN FEB MAR APR MAY JUN

Monthly ‐ FY15 Actual vs. FY16 Original and Rev'd Plan

Prior Year Actual (FY15)

FY16 Plan

FY16 Rev'd Plan

• On a YTD basis – Both Original and Rev’d Plan end up at same point, FY16 actual better tracks the Rev’d Plan

05/17/2016

23

ExpendituresSupplies & Materials - Variance Analysis

FY2015-16

$0

$5,000,000

$10,000,000

$15,000,000

$20,000,000

$25,000,000

$30,000,000

JUL AUG SEP OCT NOV DEC JAN FEB MAR APR MAY JUN

YTD ‐ FY16 Actual vs. FY16 Original Plan and Rev'd Plan

FY16 Plan

FY16 Actual

FY16 Rev'd Plan YTD

• YTD Variance to Rev’d Plan more consistent – a better picture of how the expenditures are running.

05/17/2016

24

ExpendituresSupplies & Materials - Variance Analysis

FY2015-16

($10,000,000)

($8,000,000)

($6,000,000)

($4,000,000)

($2,000,000)

$0

$2,000,000

$4,000,000

$6,000,000

$8,000,000

JUL AUG SEP OCT NOV DEC JAN FEB MAR APR MAY JUN

YTD Variance ‐ FY16 Actual vs. Original Plan and Rev'd Plan

FY16 Act v Plan

FY16 Act v Rev'd Plan

25

ExpendituresNon-Personnel (Operating) Variance Analysis

FY2015-16

05/17/2016

$0.0

$1.0

$2.0

$3.0

$4.0

$5.0

$6.0

Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun

Millions

840 ‐ Dues And Fees (Other Objects)

Plan

Actual

26

Expenditures – Monthly DeductionsCharter Schools, STEM, Scholarship, etc. (478, 479)

05/17/2016

ACTUAL | PROJECTED

$2.7 

$0

$2

$4

$6

$8

$10

$12

$14

$16

$18

$20

JUL AUG SEP OCT NOV DEC JAN FEB MAR APR MAY JUN

Millions

FY16 PLAN

FY16 ACTUAL

YTD VARIANCEACTUAL VS PLAN

27

Annual AmountCharter Schools, STEM, Scholarship, etc. (478, 479)

05/17/2016

$MillionsAPPROPRIATION 

vs. SFPR*PLAN / APPROPRIATION $163.10 JUL #1 SFPR $160.20  $2.90 JUL #2 – AUG #1 SFPR $158.70  $4.40 AUG #2 – SEP #1 SFPR $159.50  $3.60 SEP #2 – DEC #1 SFPR $159.40  $3.70 DEC #2 – JAN #1 SFPR $159.60  $3.50 JAN #2 SFPR $163.40  ($0.30)FEB #1 SFPR $165.40  ($2.30)FEB #2 – MAR #1 SFPR $163.40  ($0.30)MAR #2 ‐ APR #1 SFPR $164.70  ($1.60)APR #2 SFPR $165.87  ($2.77)*School Foundation Payment Report

28

Monthly Expenditure FlowPlan/Actual thru April, FY2015-16

05/17/2016

$0

$10

$20

$30

$40

$50

$60

$70

JUL AUG SEP OCT NOV DEC JAN FEB MAR APR MAY JUN

Millions

Personnel‐Plan Non‐Personnel‐Plan

Personnel‐Actual Non‐Personnel‐Actual

29

YTD Expenditure FlowPlan/Actual thru April, FY2015-16

05/17/2016

$0

$100

$200

$300

$400

$500

$600

JUL AUG SEP OCT NOV DEC JAN FEB MAR APR MAY JUN

Millions

Personnel‐Plan Non‐Personnel‐Plan

Personnel‐Actual Non‐Personnel‐Actual