The monthly financial reports approved by the Board of Education normally consist of several documents:
Cash Reconciliation Report: This report reconciles the month end bank accounts. The report currently shows both operating and construction accounts.
Investment Reports: These reports are divided between operating and construction accounts. Investments are made with safety of principal as the top concern. Our investments are restricted by Ohio Revised Code and Board Policy. Within these limits, we strive to maximize interest earned.
Fund Balance Reports: School districts account for money in funds based on the purpose of the fund. The fiscal year begins on July 1 and goes through June 30.
This report shows receipts, expenditures, and cash balances by fund. The first section of the report shows the funds need for day to day operations of the district. The General Fund accounts for most of the district’s operations. The receipts include your tax payments and funding from the State of Ohio. Other funds in this section of the report include permanent improvement funds, food service, latchkey, and grants received from state and federal sources.
The second section of the Fund Balance Report shows construction related balances. This includes the Bond Retirement account used to repay the debt that was issued for the local share of the new buildings. The Classroom Facilities lines show the state and local shares of the new buildings. The “Geothermal” and “LFI” funds account for the construction projects that are not funded by the Ohio School Facilities Commission (OSFC) or the Bond Issue debt.
The final section of the Fund Balance Report is more directly related to student activities and athletics. None of the receipts in this section come from tax dollars. The receipts are generally from fund raisers, ticket sales, and donations.
Monthly Revenue/Expenditure Summary: This chart and graph compares General Fund revenue and expenditures by category.
Monthly Revenue/Expenditures : This chart and graph compares General Fund revenue and expenditures for the current month.
Year to Date Revenue/Expenditures: This chart and graph compares General Fund revenue and expenditures accumulated in the fiscal year.
Month End Cash Balances: This chart and graph show the month end cash balances for the General Fund. The unencumbered balance represents the cash balance less current encumbrances. The encumbrances are the outstanding purchase orders, or district obligations.
Cafeteria Reports: The cafeteria report shows the food service fund income and expenditures. There is an individual report for each building and one that shows the totals for the district.
Latchkey Reports: The latchkey reports show the income and expenditures for both AM and PM Latchkey programs.
Purpose and Budget Statement: All activity funds are required to complete this statement each year before making any expenditure. The statement gives the general purpose of the activity and the budget for the year. The Board of Education approves the initial statement for each activity on an annual basis.
Appropriations: Most school districts begin the fiscal year with “temporary” appropriations. “Permanent” appropriations are to be approved each year by October 1. Appropriations are updated as needed. Most months will include an updated appropriations resolution.
Other: Additional reports, graphs, and charts may be added occasionally as appropriate.