1. Financial Accountability Lonnie Burt, MS, RD, CD-N Senior Director Hartford Public Schools Hartford Public Schools, CT - Child Nutrition Programs - May 2015 1

2. Hartford Public Schools Demographics 51 Schools ▫35 CEP ▫16 Traditional Types of Facilities ▫Self-Contained ▫Pre-Pack (partial satelite) ▫Satellite ▫Central Warehouse 125 Full-Time Employees 275 Part-Time Employees Hartford Public Schools, CT - Child Nutrition Programs - May 2015 2

3. Hartford Public Schools Demographics ADP NSLP: 18,000 SBP: 8,000 Snacks: 1,100 Supper: 1,200 SFSP: 5,000 NSLP SBP Afterschool Snack Program At-Risk Supper Program SFSP FFVP DoD Farm to School Hartford Public Schools, CT - Child Nutrition Programs - May 2015 3

4. Financial Management Requires Fiscal Reporting Systems Cash Handling Procedures Good Communication / Training Your Eye on the Ball Hartford Public Schools, CT - Child Nutrition Programs - May 2015 4

5. Always About Balance Income Federal Reimbursements State Reimbursements Sales to Students and Adults Daycare / Headstart Catering Grants Expenses Food Supplies Labor / Benefits Equipment Purchases Equipment Repairs Office Supplies Licensing Fees / Technology Bank Courier Education / Training Indirect Costs Hartford Public Schools, CT - Child Nutrition Programs - May 2015 5

6. Tools for Sound Fiscal Management Budget Financial Reporting Systems (POS & Accounting) Profit and Loss Statements (site and consolidated) Monthly Inventories Cash Handling Procedures Proper Procurement Customer Acceptable Menus Hartford Public Schools, CT - Child Nutrition Programs - May 2015 6

7. Budget The budget is the annual plan for what the fund expects to accomplish Projections for revenue and expenses are made based upon previous year financial information, current market trends, enrollment, and reimbursement rate increases Hartford Public Schools, CT - Child Nutrition Programs - May 2015 7

8. Profit and Loss Statements P & L statements show management how the fund has performed for a given period of time Must be compared, analyzed, and acted upon to be effective Hartford Public Schools, CT - Child Nutrition Programs - May 2015 8

9. Profit and Loss Statements Comparisons made to industry standards, prior period of time, other schools, other districts, budget goals Comparisons should be made using percentages of costs to total revenue Variances in percentages are easy to spot Hartford Public Schools, CT - Child Nutrition Programs - May 2015 9

10. Profit and Loss Statements P & L statements should be consolidated and broken down by individual schools They will point out where problems exist Hartford Public Schools, CT - Child Nutrition Programs - May 2015 10

11. School Manager Responsibilities Monitor ADP Reconcile Daily A la Carte Food Sales Cash Handling Procedures Accurate Production Records Proper Ordering/Inventory Production Techniques Presentation Hartford Public Schools, CT - Child Nutrition Programs - May 2015 11

12. Take Home Moment Use your profit and loss statement to analyze your financial status on a monthly basis. Look at labor costs and start to develop a short and long-term cost savings plan. Income is dependent upon customer satisfaction. Hartford Public Schools, CT - Child Nutrition Programs - May 2015 12