fiscal year 2008-2009 financial report august 2008 year to date
DESCRIPTION
FISCAL YEAR 2008-2009 Financial Report August 2008 Year To Date. August 2008 Beginning Fund Balance (Unaudited) ($ 10,509) APPROVED REVENUE BUDGET $324,973 YTD REVENUES $ 23,851 APPROVED EXPENDITURE BUDGET $346,067 - PowerPoint PPT PresentationTRANSCRIPT
August 2008EXECUTIVE SUMMARY
Saint Louis Public SchoolsAugust 2008 Monthly Financial
Report
August 2008EXECUTIVE SUMMARY
Saint Louis Public SchoolsAugust 2008 Monthly Financial
Report
August 2008EXECUTIVE SUMMARY
Saint Louis Public SchoolsAugust 2008 Monthly Financial
Report
August 2008EXECUTIVE SUMMARY
Saint Louis Public SchoolsAugust 2008 Monthly Financial
Report
August 2008EXECUTIVE SUMMARY
Saint Louis Public SchoolsAugust 2008 Monthly Financial
Report
August 2008EXECUTIVE SUMMARY
Saint Louis Public SchoolsAugust 2008 Monthly Financial
Report
August 2008EXECUTIVE SUMMARY
Saint Louis Public SchoolsAugust 2008 Monthly Financial
Report
August 2008EXECUTIVE SUMMARY
Saint Louis Public SchoolsAugust 2008 Monthly Financial
Report
August 2008EXECUTIVE SUMMARY
Saint Louis Public SchoolsAugust 2008 Monthly Financial Report
FISCAL YEAR 2008-2009Financial Report
August 2008 Year To Date
August 2008EXECUTIVE SUMMARY
Saint Louis Public SchoolsAugust 2008 Monthly Financial
Report
August 2008 Beginning Fund Balance (Unaudited) ($ 10,509)
APPROVED REVENUE BUDGET $324,973YTD REVENUES $ 23,851
APPROVED EXPENDITURE BUDGET $346,067YTD EXPENDITURES $ 23,855
JUNE 30, 2009 Projected Ending Fund Balance ($ 31,603)
August 2008EXECUTIVE SUMMARY
Saint Louis Public SchoolsAugust 2008 Monthly Financial
Report
• $346.1M - GOB Budget $476.3M - District Total Budget
• Total District Cash - $175.3M
• GOB Revenues in line with budget
• GOB Expenditure Variance AnalysisSalaries & Benefits – fewer FTEs (classroom teachers & administrators), delay in allocation of retirement expenses. Non-Payroll Expenditures – variances due to timing, additional expenditures for Early Retirement, Acuity Benchmark, and Long Range Plan.
YEAR-TO-DATE SUMMARY
August 2008EXECUTIVE SUMMARY
Saint Louis Public SchoolsAugust 2008 Monthly Financial
Report
CONCERNS AND RISKS
• State Tax Commission protested tax rulings
• Equitable distribution of funds to charter schools
• Charter School Enrollment
• Unanticipated expenditures
• Unforeseen expenditures/impact of using 07/08 actuals as 08/09 budget base
August 2008EXECUTIVE SUMMARY
* 08/09 Year End Projections assume no corrective action taken. Options are currently under review to mitigate potential deficit of $20M.
*
August 2008EXECUTIVE SUMMARY
* * 08/09 Year End
Projections assume no corrective
action taken to mitigate potential
deficit.
August 2008EXECUTIVE SUMMARY
August 2008EXECUTIVE SUMMARY
August 2008Second Budget Amendment
* 08/09 Year End Projections assume no corrective action taken. Options are currently under review to mitigate potential deficit of $20M.
August 2008Second Budget Amendment
* 08/09 Year End Projections assume no corrective action taken. Options are currently under review to mitigate potential deficit of $20M.
*
August 2008Second Budget Amendment
August 2008Second Budget Amendment
August 2008Second Budget Amendment
August 2008Second Budget Amendment
SLPS
Tax Increment Financing (TIF)
SLPSRS Worst Case Scenario
*Source: PSRS Investment “Flash” Report, dated 6/30/08 and PSN.
Past performance is not indicative of future performance.
A DEEPER LOOK AT EVALUATING INVESTMENT PERFORMANCE
Top performing money managers typically beat not only their comparative style index but also exhibit above median performance in their peer group for longer periods (i.e. 5 years+).
Active managers should not be expected to outperform in every month, quarter, or year. However, persistent underperformance (i.e. 5 years+) should warrant concern and a re-investigation of the manager’s process, philosophy and people.
As of 6/30/08, SLPSRS engaged 6 traditional managers with below-median peer returns for the trailing 5 years. These managers oversee a combined $197 million under management.* Three of the six underperformed more than 70% of their peers in that timeframe.
Six of the equity managers (totaling $197 million in assets) have below median performance for the 5 years ending 6/30/08.
Using only those manager’s returns and calculating the difference between their returns and the return of the median of each manager’s peer group, the dollar return differential was $9 million over 5 years.
WORST CASE SCENARIOS
*Source: PSRS Investment “Flash” Report, dated 6/30/08 and PSN.
Past performance is not indicative of future performance.
Buford, Dickson, Harper, Sparrow $21,256,989 Return amount below the median manager: ($1,000,932)
Monetary Management $61,125,673 Return amount below the median manager: ($487,443)
New Amsterdam Partners $33,350,246 Return amount below the median manager: ($825,460)
Edgar Lomax $30,415,669 Return amount below the median manager: ($2,527,300)
Systematic Financial $28,258,552 Return amount below the median manager: ($2,935,843)
Dimensional Fund Advisors $22,571,984 Return amount below the median manager: ($1,579,047)
Total Assets for Worst Case Managers $196,979,113 Combined amount below the median manager: ($9,356,025)
Quartile Report Slides
QUARTILE RANKING BAR
PSN LARGE CAP GROWTH
JUNE 30, 2003 TO JUNE 30, 2008
-20
-15
-10
-5
0
5
10
15
20
RA
TE
OF
RE
TU
RN
1 Year 3 Years 5 Years
HIGH (0.05) 6.74 13.04 14.79
FIRST QUARTILE -1.16 8.68 10.43
MEDIAN -4.64 6.58 8.76
THIRD QUARTILE -8.20 4.81 7.33
LOW (0.95) -13.00 2.10 5.24
MEAN -4.31 6.78 8.98
VALID COUNT 397 370 340
Buford Dickson Core Momentum Gr
Monetary Mgmt. LCG
INTECH Large Cap Growth
1 Year 3 Years 5 Years
VALUE RANK VALUE RANK VALUE RANK
-0.01 18 7.11 44 7.86 63
-2.20 33 5.62 64 8.63 52
-3.47 40 5.30 66 9.18 42
QUARTILE RANKING BAR
PSN MID CAP GROWTH
JUNE 30, 2003 TO JUNE 30, 2008
-25
-20
-15
-10
-5
0
5
10
15
20
25
RA
TE O
F R
ETU
RN
1 Year 3 Years 5 Years
HIGH (0.05) 7.14 16.54 18.14
FIRST QUARTILE 0.16 12.43 14.56
MEDIAN -4.94 10.05 13.18
THIRD QUARTILE -9.43 7.64 11.00
LOW (0.95) -15.27 3.83 7.54
MEAN -4.46 9.84 13.01
VALID COUNT 176 162 144
New Amsterdam Mid Cap Grow Act
1 Year 3 Years 5 Years
VALUE RANK VALUE RANK VALUE RANK
0.16 25 8.11 70 12.69 59
QUARTILE RANKING BAR
PSN LARGE CAP VALUE
JUNE 30, 2003 TO JUNE 30, 2008
-35
-30
-25
-20
-15
-10
-5
0
5
10
15
20
RA
TE
OF
RE
TU
RN
1 Year 3 Years 5 Years
HIGH (0.05) -3.57 10.76 14.85
FIRST QUARTILE -11.31 6.67 10.91
MEDIAN -15.14 5.00 9.61
THIRD QUARTILE -18.44 3.22 8.05
LOW (0.95) -27.24 -0.87 5.10
MEAN -15.03 5.05 9.57
VALID COUNT 369 352 307
Edgar Lomax Large Cap Value
Chicago Equity LgCap Value Xtnd
1 Year 3 Years 5 Years
VALUE RANK VALUE RANK VALUE RANK
-18.74 77 3.62 70 7.94 76
-17.06 62 4.64 53 9.98 42
QUARTILE RANKING BAR
PSN SMALL CAP VALUE
JUNE 30, 2003 TO JUNE 30, 2008
-35
-30
-25
-20
-15
-10
-5
0
5
10
15
20
25
RA
TE O
F R
ETU
RN
1 Year 3 Years 5 Years
HIGH (0.05) -5.01 12.20 18.45
FIRST QUARTILE -13.33 7.24 13.61
MEDIAN -18.28 4.20 12.09
THIRD QUARTILE -22.14 1.52 10.22
LOW (0.95) -29.44 -2.38 7.00
MEAN -17.67 4.38 12.24
VALID COUNT 247 235 213
Systematic Fin. SCV
1 Year 3 Years 5 Years
VALUE RANK VALUE RANK VALUE RANK
-18.35 50 6.30 33 9.92 80
QUARTILE RANKING BAR
PSN SMALL CAP CORE
JUNE 30, 2003 TO JUNE 30, 2008
-35
-30
-25
-20
-15
-10
-5
0
5
10
15
20
25
RA
TE O
F R
ETU
RN
1 Year 3 Years 5 Years
HIGH (0.05) -2.91 12.21 16.65
FIRST QUARTILE -12.96 6.86 13.09
MEDIAN -16.49 4.15 11.46
THIRD QUARTILE -19.20 2.40 10.28
LOW (0.95) -26.44 -1.29 7.56
MEAN -15.93 4.68 11.69
VALID COUNT 165 151 130
Russell 2000
1 Year 3 Years 5 Years
VALUE RANK VALUE RANK VALUE RANK
-16.19 45 3.79 60 10.29 74
NON GOB Financial SummaryAugust 2008 Monthly Financial
Report
NON GOB Financial SummaryAugust 2008 Monthly Financial
Report
CAPITAL FUNDS
A/C Fund Balance = $ 19,008,577 MDESEG Fund Balance = $ 99,600,771 M
NON GOB Financial SummaryAugust 2008 Monthly Financial
Report
DEBT SERVICE
NON GOB Financial SummaryAugust 2008 Monthly Financial
Report
FEDERAL FUNDS
NON GOB Financial SummaryAugust 2008 Monthly Financial
Report
FOOD SERVICE
NON GOB Financial SummaryAugust 2008 Monthly Financial
Report
TRUST & AGENCY