Barbour County Board of Education January 14th, 2019 Board Meeting Financial Reports

December FY 2018-2019 Payroll Register   Payroll for December FY 2018-2019 SFund SFund TOTAL Source of Funds #1110 $ 401,824.91 Foundation #1220 $ 6,564.07 School Nurse #1221 $ 2,668.95 Technology Coordinator State Funds #1230 $ 2,351.39 ARI #1310 $ 50,077.51 Transportation #1720 $ 13,483.18 OSR #2241 $ 3,160.37 Catastrophic Fund #3210 $ 14,008.40 IDEA Special Education #3213 $ 2,405.96 High Cost Grant #4110 $ 24,155.87 Title I, Part A #5101 $ 33,002.02 Child Nutrition #6001 $ 50,552.23 Local Fund Total $ 604,254.86 *Gross Salaries $ 438,758.21 *Benefits $ 165,496.65

Check Register Accountability Summary 12/01/2018 – 12/31/2018 State Fund Amount: $45,576.23 Federal Fund Amount: $119,938.23 Local Fund Amount: $46,693.36___ Totals: $212,207.82 *The full detailed register will be available on the Barbour County Schools website after board approval.

Bank Statement Reconciliations November 2018

Bank Statement Reconciliations December 2018

Tentative General Fund Financial Summary For FY 2017-2018 (There are still edits and corrections being completed) Revenues: $7,161,082.28 Expenditures: ($7,501,975.26) Other Fund Sources (Uses): ($138,622.90) Excess Revenues & Other Sources: ($479,515.88) Beginning Fund Balance: $626,675.67 Ending Fund Balance FY18: $147,159.79* *Still pending end of year adjustments That would be 25% of our 1 months operating reserve which is $610,504.75

Conclusion There are Federal Funds for October, November, and December of FY 2018-2019 that have not been received as of December. Our FY2018-2019 Federal Consolidated Plan is approved and the available funds have been requested. As stated in previous meetings, we must implement sound accounting practices from week to week in order to reduce expenditures wherever possible if we want to obtain our one month’s operating reserve. Once we get to that point, we must maintain that level of operation. If not, we will see continued months and years of a low operating reserve. If sound accounting practices are not observed each month, we will continue to have delays in having financial reports ready on time at month and year end. We are still processing FY 2017-2018 edits so that our Fiscal Year ending financials will be in compliance and approvable by the ALSDE LEA Accounting Department.