Greater Johnstown School District Budget and Finance Committee 1/14/16 7/1/2018

Budget Committee Meetings Overview  1) Overview - Forecast, model, timeline, procedures, etc.  2) Revenue- sources, fixed, controllable  3) Staffing and salary schedules  4) Expenditures - non salary related, materials and resources, technology, etc.  5) Proposal Final Budget  6) Final Budget 7/1/2018

Fund Accounting A fund is a distinct accounting entity with self balancing set of accounts 3 Types of Funds (Governmental, Proprietary and Fiduicary) Each fund has a separate trial balance (conceptually – separate business) 7/1/2018

Governmental Funds General Fund (10) Principal operating fund of the Governmental Entity Athletic Fund Only if there is a dedicated stream of revenue to substantially fund the sports program (50%) Capital Project Fund (30) Account for resources that are limited to expenditures for capital outlays Debt Service Fund (40) Accumulates resources for payment of long term debt principal and interest 7/1/2018

Other Funds Proprietary Funds Operates like a business Net income Example – Cafeteria Fund Fiduciary Funds Used for assets held in agency capacity Example – Chinese program 7/1/2018

Budget Basics Public School Code of 1949 Legal requirements Public School Code of 1949 Must adopt a budget prior to June 30 Must adopt a proposed budget and publically advertise, hold open for public view for 30 days prior to final adoption Must adopt a preliminary budget by January 30th unless school district enacts resolution not to raise taxes over the Act 1 index 7/1/2018

Budget Handbook Developing School Budgets Revenues Expenses Fund Balance Budget is key to decision making Plan for rational distribution of resources Primary vehicle for setting fiscal and program policy Means for establishing objectives 7/1/2018

Budget Account Structure Budget Handbook Budget Account Structure Fund XX In all cases this will be “10” Function XXXX Is the functional area of expense Object XXX Account code, type of expense Funding Source Is always 000 unless assigned by Bus. Office Level Elementary or secondary grade level Location Building or Responsible Unit Designation Special Designations 7/1/2018

Purchasing 7/1/2018

Quotes 7/1/2018

Bids 7/1/2018

RFP’s Budget Handbook 7/1/2018

State Contracts 7/1/2018

Cash Management Cash handling Set up one cash point (no matter the event) with at least two people 2. Create a paper (paperless even better when possible!) trail for every transaction a. Provide a receipt to each person who pays the organization b. Reconcile cash collected to receipts before leave the event and note the amounts c. Have both people sign and date the reconciliation 3. Deposit immediately (or the next morning at the latest) 4. Get bonding insurance 5. Do not Ever take IOUs Ever mingle personal or school cash with club cash Ever provide a loan to the group 7/1/2018

Forecast 7/1/2018

Greater Johnstown School District 2014-15 Budget vs. Actual Greater Johnstown School District Budget For the Years Ended Actual Variance 7/1/2014 Build # Revenue 6/30/2015 Local Sources 9,993,205.61 11,306,289.00 11.61% State Sources 26,471,177.15 26,487,311.00 0.06% Federal Sources 4,244,473.57 4,396,648.00 3.46% Other 125,000.00 151,307.00 17.39% Revenues 40,833,856.33 42,341,555.00 3.56% Bond Refinance   5,700,000.00 100.00% Total Revenues 48,041,555.00 Expenses 00 District Wide 8,643,301.59 7,995,007.00 -8.11% 11 School Board 148,691.42 180,004.00 17.40% 12 Superintendent 726,851.48 625,187.00 -16.26% 13 Maintenance 2,232,044.31 1,953,988.00 -14.23% 19 Business Office 726,303.42 733,479.00 0.98% 22 Technology 898,934.00 720,903.00 -24.70% 17 Federal Programs 4,548,682.85 4,253,997.00 -6.93% 18 Special Education 6,744,457.77 6,267,454.00 -7.61% 23 Eastside Elementary 3,595,078.99 3,650,142.00 1.51% 25 Westside Elementary 3,730,750.54 4,010,418.00 6.97% 51 Middle School 4,358,662.13 3,964,615.00 -9.94% 81 High School 6,224,141.73 6,947,678.00 10.41% 82 Athletics 823,694.21 742,706.00 -10.90% 21 Safety 306,914.95 240,728.00 -27.49% 20 Alternative/Cyber 3,068,897.03 3,245,059.00 5.43% 40 Materials and Resources 399,900.00 302,929.00 -32.01% 47,177,306.42 45,834,294.00 -2.93% Total Expense 51,534,294.00 Budget surplus (short fall) -6,343,450.09 -3,492,739.00 Fund Balance 9,754,345.00 6,261,606.00 7/1/2018

Introduction to Revenues 3 Sources Local State Federal 7/1/2018

Introduction to Revenues Local Revenue Current Real Estate Tax (6111) Represents the largest portion of the local revenue Assessment from County Assessment Office Milage Rate limited by index Interim Real Estate Tax (6112) Public Utility Tax (6113) Earned Income Tax (6151) Real Estate Tax (6153) Other Act 511 Taxes (6143, 6157) Delinquent Taxes (6411) Investment Interest (6510) 7/1/2018