1. Quarterly Financial Report
as of December 31, 2016

2. Revenues & Expenditures
BANK ACCOUNT BALANCES
GENERAL
REAL ESTATE
CAPITAL
FUND
TAXES
PROJECTS
CASH/INVESTMENTS:
TD BANK
$ ,715,959
$ ,278,566 $
SANTANDER
6,003,863 -
$ ,719,821
REVENUES & EXPENDITURES
BUDGET
% OF
ACTUAL YTD
VARIANCE
BEGINNING FUND BALANCE:
$ ,629,193
$ ,629,193
REVENUE:
LOCAL R E TAXES
$ ,415,341
$ ,044,639
$ (1,370,702)
98%
INTERIM R E TAXES
400,000
78,789
(321,211)
20%
UTILITY/TRF TAXES
1,296,000
780,040
(515,960)
60%
DELINQUENT TAXES
1,500,000
703,008
(796,992)
47%
INTEREST EARNINGS
50,000
67,435
17,435
135%
OTHER LOCAL REVENUE
348,266
85,146
(263,120)
24%
STATE SUBSIDIES
18,585,729
7,076,673
(11,509,056)
38%
GRANTS
332,273
92,078
(240,195)
28%
OTHER
978,401
729,216
(249,185)
75%
$ ,906,010
$ ,657,024
$ (15,248,986)
86%
EXPENDITURES:
100
SALARIES
$ ,711,347
$ ,426,306
$ ,285,041
41%
200
BENEFITS/FRINGE
31,494,693
13,283,457
18,211,236
42%
300
PROF/TECH SVS
3,098,047
925,230
2,172,817
30%
400
PROPERTY SVS
3,830,131
2,033,058
1,797,074
53%
500
OTHER SVS
6,970,401
3,992,051
2,978,350
57%
600
SUPPLIES
3,191,888
1,435,006
1,756,881
45%
700
EQUIPMENT
557,624
463,230
94,393
83%
800
DUES/FEES/BOND INTEREST
4,165,879
2,264,395
1,901,484
54%
900
BOND PRINCIPAL
5,886,000 0%
$ ,822,734
$ ,083,276
( ) - EXPENDITURES EXCEED REVENUE $
$ ,834,290
ENDING FUND BALANCE:

3. Revenues BUDGET YTD ACTUALS QUARTERLY ACTUALS DESCRIPTION 2016-2017
VARIANCE
1ST QTR
2ND QTR
3RD QTR
4TH QTR
LOCAL TAXES
CURRENT REAL ESTATE TAXES
$ ,415,341
$ 87,044,639
$ (1,370,702)
$ 78,499,237
$ 8,545,402 $ $
INTERIM REAL ESTATE TAXES
400,000
78,789
(321,211)
11,330
67,459 -
PUBLIC UTILITY REALTY TAX
96,000
96,931
931
REAL ESTATE TRANSFER TAX
1,200,000
683,108
(516,892)
321,113
361,996
DELINQUENT REAL ESTATE TAX
1,500,000
703,008
(796,992)
358,438
344,569
INTEREST EARNINGS
50,000
67,435
17,435
27,400
40,035
STUDENT ACTIVITIES
40,000
(40,000)
RENTALS
140,000
38,592
(101,408)
4,477
34,115
TUITION- SUMMER SCHOOL
28,000
37,818
9,818
37,668
150
TUITION- OTHER LEA
120,000
(120,000)
MISC REVENUE
20,266
8,737
(11,529)
4,054
4,683
SUBTOTAL LOCAL
$ ,009,607
$ 88,759,057
$ (3,250,550)
$ 79,263,717
$ 9,495,340
STATE REVENUE
BASIC INSTRUCTIONAL SUBSIDY
$ ,000,271
$ 1,034,820
$ (1,965,451)
$ ,940
$ ,880
SPECIAL EDUCATION SUBSIDY
2,356,920
1,087,119
(1,269,801)
724,746
362,373
TRANSPORTATION SUBSIDY
1,225,000
581,552
(643,448)
58,977
522,575
RENTAL - SINKING FUND PYMNT
92,000
59,232
(32,768)
HEALH SERVICES SUBSIDY
128,000
(128,000)
STATE REVENUE-PROPERTY TAX REDUCTION
2,104,035
1,052,017
1,052,018
SOCIAL SECURITY SUBSIDY
1,951,650
467,546
(1,484,104)
RETIREMENT CONTRIBUTIONS
7,727,853
1,742,369
(5,985,484)
SUBTOTAL STATE
$ ,585,729
$ 7,076,673
$ (11,509,056)
$ 2,180,680
$ 4,895,993
FEDERAL REVENUE
IDEA PART B
$ ,401
$ (828,401) $ $
TITLE I
215,217
61,491
(153,726)
NCLB TITLE II
107,056
30,587
(76,469)
NCLB TITLE III
10,000
(10,000)
ACCESS - MEDICAL ASSTISTANCE REIMBURSEMENT
125,000
716,916
591,916
MEDICAL ASSISTANCE ADMIN - ACCESS
25,000
12,301
(12,699)
SUBTOTAL FEDERAL
$ ,310,674
$ ,294
$ (489,380)
$ ,294
GRAND TOTAL
$ 111,906,010
$ 96,657,024
$ (15,248,986)
$ 81,444,397
$ 15,212,627

4. Expenditures BUDGET YTD ACTUALS QUARTERLY ACTUALS Dept Object
DESCRIPTION
VARIANCE
1ST QTR
2ND QTR
3RD QTR
4TH QTR
INSTRUCTION - REGULAR EDUCATION
1100
100
Wages
$ ,357,624
$ 9,910,773
$ 16,446,851
$ 2,934,568
$ 6,976,205 $
200
Medical Benefits & Fringes
15,958,038
6,304,709
9,653,329
2,124,593
4,180,117 -
300
Contracted Services
89,700
9,677
80,024
400
Utilities & Maintenance
452,722
143,621
309,100
37,470
106,151
500
Other Purchased Services
185,300
94,302
90,998 17
94,285
600
Supplies
1,202,935
727,429
475,506
364,778
362,651
700
Property & Equipment
218,279
282,480
(64,201)
177,738
104,742
800
Dues & Fees/Debt Service Interest
8,730
2,339
6,391
836
1,503
$ ,473,327
$ 17,475,330
$ 26,997,997
$ 5,640,001
$ 11,835,329
INSTRUCTION - SPECIAL EDUCATION
1200
$ ,449,581
$ 3,682,760
$ 5,766,821
$ ,529
$ 2,735,231
5,903,265
2,413,558
3,489,707
553,562
1,859,996
1,931,688
593,764
1,337,924
283,009
310,755
3,802,201
2,033,369
1,768,832
1,170,210
863,159
117,900
75,636
42,264
47,319
28,316
10,000
9,565
435
1,929
7,636
$ ,214,634
$ 8,808,651
$ 12,405,983
$ 3,003,558
$ 5,805,093
VOCATIONAL EDUCATION PROGRAMS
1300 $ $
528,651
236,766
291,885
123,340
113,426
$ ,651
$ ,766
$ ,885
$ ,340
$ ,426
INSTRUCTION OTHER
1400
$ ,860
$ ,145
$ ,715
$ ,051
$ ,094
133,753
55,683
78,070
22,737
32,946
43,000
28,356
14,644
43,200
15,424
27,776
448
14,977
15,000
7,875
7,125
$ ,313
$ ,483
$ ,830
$ ,235
$ ,247
NONPUBLIC SCHOOL PROGRAMS
1500
$ ,329
$ ,329

5. Expenditures BUDGET YTD ACTUALS QUARTERLY ACTUALS Dept Object
DESCRIPTION
VARIANCE
1ST QTR
2ND QTR
3RD QTR
4TH QTR
DELAWARE COUNTY COMMUNITY COLLEGE
1700
500
Other Purchased Services
$ ,279,600
$ ,020
$ ,580
$ ,582
$ ,439 $
PUPIL SERVICES
2100
100
Wages
$ ,297,989
$ 1,382,696
$ 1,915,293
$ ,271
$ ,425
200
Medical Benefits & Fringes
1,976,142
860,132
1,116,010
303,883
556,250 -
300
Contracted Services
91,000
41,205
49,795
19,524
21,681
400
Utilities & Maintenance
5,024
985
4,039
(55)
1,040
12,200
255
11,945 12
243
600
Supplies
51,500
11,873
39,627
6,750
5,123
700
Property & Equipment
10,000
9,700
800
Dues & Fees/Debt Service Interest
2,500
1,275
1,225
280
995
$ ,446,355
$ 2,298,722
$ 3,147,632
$ ,965
$ 1,453,757
INSTRUCTIONAL SUPPORT SERVICES
2200
$ ,111,503
$ ,663
$ 1,210,840
$ ,411
$ ,252
1,215,945
546,343
669,602
203,610
342,733
147,907
30,397
117,510
8,598
21,799
49,650
4,128
45,522
1,311
2,817
12,112 49
12,063 37
207,032
62,781
144,251
27,508
35,273
76,416
61,568
14,848
42,497
19,071
4,400
1,724
2,676
$ ,824,965
$ 1,607,654
$ 2,217,311
$ ,948
$ ,706
ADMINISTRATION
2300
$ ,720,594
$ 1,384,668
$ 1,335,926
$ ,905
$ ,764
1,605,518
795,915
809,603
370,206
425,709
250,925
67,786
183,139
12,603
55,183
17,063
1,195
15,868
186,376
173,699
12,677
167,874
5,825
74,678
20,914
53,764
6,693
14,220
44,300
24,808
19,492
12,982
11,826
43,890
55,774
(11,884)
26,550
29,224
$ ,943,344
$ 2,524,759
$ 2,418,585
$ 1,240,813
$ 1,283,946

6. Expenditures BUDGET YTD ACTUALS QUARTERLY ACTUALS Dept Object
DESCRIPTION
VARIANCE
1ST QTR
2ND QTR
3RD QTR
4TH QTR
PUPIL HEALTH
2400
100
Wages
$ ,130,384
$ ,958
$ ,425
$ ,390
$ ,568 $
200
Medical Benefits & Fringes
700,814
288,503
412,311
65,275
223,228 -
300
Contracted Services
394,210
105,651
288,559
24,648
81,004
400
Utilities & Maintenance
500
Other Purchased Services
1,100 37
1,063
600
Supplies
13,600
8,889
4,711 71
8,818
700
Property & Equipment
4,000
800
Dues & Fees/Debt Service Interest
$ ,244,108
$ ,039
$ 1,392,069
$ ,384
$ ,655
BUSINESS OFFICE
2500
$ ,809
$ ,561
$ ,248
$ ,024
$ ,537
309,047
176,206
132,842
94,574
81,631
10,500
4,625
5,875
1,400
3,225
20,091
23,082
(2,991)
(86)
23,168
1,600
125
1,475 59 66
46,500
3,181
43,319
1,624
1,558
55,000
49,563
5,437
1,135
48,428
25,000
364
24,636
160
204
$ ,547
$ ,707
$ ,840
$ ,890
$ ,817
FACILITIES & MAINTENANCE
2600
$ ,218,448
$ 1,560,772
$ 1,657,676
$ ,620
$ ,152
1,988,659
948,275
1,040,385
443,113
505,162
14,000
16,411
(2,411)
2,504,862
1,372,086
1,132,776
776,517
595,568
437,200
304,082
133,118
278,131
25,951
833,100
232,475
600,625
64,104
168,372
42,500
12,953
29,547
3,700
9,253
11,250
851
10,399
$ ,050,019
$ 4,447,905
$ 4,602,114
$ 2,267,185
$ 2,180,720

7. Expenditures BUDGET YTD ACTUALS QUARTERLY ACTUALS Dept Object
DESCRIPTION
VARIANCE
1ST QTR
2ND QTR
3RD QTR
4TH QTR
TRANSPORTATION
2700
100
Wages
$ ,251,307
$ 1,090,217
$ 1,161,090
$ ,724
$ ,492 $
200
Medical Benefits & Fringes
1,262,903
575,553
687,350
173,427
402,126 -
300
Contracted Services
15,500
3,506
11,994
1,271
2,235
400
Utilities & Maintenance
453,900
267,833
186,067
195,828
72,005
500
Other Purchased Services
130,500
103,397
27,103
98,903
4,494
600
Supplies
412,500
141,021
271,479
56,114
84,907
700
Property & Equipment
21,000
7,484
13,516
4,088
3,396
800
Dues & Fees/Debt Service Interest 75
425
$ ,548,110
$ 2,189,086
$ 2,359,024
$ ,431
$ 1,333,655
CENTRAL SUPPORT SERVICES
2800
$ ,678
$ ,111
$ ,567
$ ,405
$ ,706
366,806
186,234
180,572
93,551
92,683
8,000
1,256
6,744
580
676
286,267
191,260
95,007
109,303
81,958
46,000
20,530
25,470
4,979
15,551
106,807
92,750
14,057
42,737
50,013
22,500
1,500
320
1,180
$ ,422,557
$ ,462
$ ,096
$ ,555
$ ,906
OTHER SUPPORT SERVICES
2900 $ $
744
(744) 50
694
110,361
110,013
348
$ ,361
$ ,757
$ (396) $
$ ,707
MISCELLANEOUS
3100
556
(556) 65
491 $
$ (556) $ $

8. Expenditures BUDGET YTD ACTUALS QUARTERLY ACTUALS Dept Object
DESCRIPTION
VARIANCE
1ST QTR
2ND QTR
3RD QTR
4TH QTR
STUDENT ACTIVITIES
3200
100
Wages
$ ,571
$ ,982
$ ,590
$ ,222
$ ,760 $
200
Medical Benefits & Fringes
73,802
131,791
(57,988)
38,779
93,011 -
300
Contracted Services
98,288
18,524
79,764
400
Utilities & Maintenance
40,553
28,866
11,686
8,044
20,822
500
Other Purchased Services
36,700
14,345
22,355
12,174
2,171
600
Supplies
82,030
41,933
40,096
33,706
8,228
700
Property & Equipment
38,629
6,633
31,996
1,249
5,384
800
Dues & Fees/Debt Service Interest
25,104
20,895
4,209
6,675
14,220
$ ,109,677
$ ,969
$ ,708
$ ,849
$ ,120
COMMUNITY SERVICES
3300 $ $
200,000
9,061
190,939
107
(593) 20
680
$ ,107
$ ,761
$ ,346 $
$ ,741
DEBT SERVICES
5100
$ ,308,150
$ 2,180,778
$ 2,127,372
$ 1,795,715
$ ,063
900
Debt Service Principal & Other
5,886,000
$ ,194,150
$ 8,013,372
BUDGETARY RESERVE
5900
Budgetary Reserve
$ (265,145)
$ (265,145)
Grand Total
$ ,906,010
$ 45,822,734
$ 66,083,276
$ 17,907,585
$ 27,915,149

9. SCHOOL DISTRICT OF HAVERFORD TOWNSHIP PRELIMINARY BUDGET ASSUMPTIONS

10. SCHOOL DISTRICT OF HAVERFORD TOWNSHIP
BUDGET TIMELINE – PUBLIC
BUDGET YEAR
DATE
DESCRIPTION
Review Preliminary Budget for
2-2-17
Adopt Proposed Preliminary Budget.
Budget Update. Review Major Assumptions.
Proposed Final Budget & Staffing Discussion.
5-4-17
Adopt Proposed Final Budget
6-1-17
Adopt Final Budget

11. SCHOOL DISTRICT OF HAVERFORD TOWNSHIP
PRELIMINARY BUDGET ASSUMPTIONS
Increase Vs.
16-17 Budget
Revenue:
Act 1 Index - 2.5%
$ 2,343,000
Assessment Growth
538,000
PSERS - Retirement Contributions
979,000
Other Revenue
880,000
Expenditures:
Wages
$ 1,381,000
PSERS Increase from 30.03% to 32.57%
1,953,000
Curriculum Textbooks
600,000
Special Maintenance Projects
252,000
Other Expenditures
395,000
Debt Service:
Principal & Interest Payments
$ ,000

12. SCHOOL DISTRICT OF HAVERFORD TOWNSHIP
PRELIMINARY BUDGET ASSUMPTIONS
15-16
16-17
17-18
Actual
Adj Budget
Preliminary
Millage Rate
% Increase
2.80%
2.50%
Beginning Fund Balance
$ 8,432,669
$ 9,629,193
Revenues:
Local
$ 89,970,004
$ 92,009,607
$ 95,152,989
State
17,742,164
18,585,729
20,010,319
Federal
1,149,973
1,310,674
1,483,176
Other Financing Uses
(723,093) -
Total Revenues
$ 108,139,048
$ 111,906,010
$ 116,646,484
Expenditures:
Labor
$ 51,324,070
$ 52,711,347
$ 54,092,453
Benefits & Fringes
28,028,604
31,494,693
$ 33,945,677
Contracted Services
3,630,814
3,098,047
$ 3,098,047
Utilities & Maintenance
3,300,508
3,830,131
$ 3,861,489
Other Purchased Services
6,835,064
6,970,401
$ 6,870,343
Supplies
2,737,944
3,191,888
$ 3,750,091
Property & Equipment
801,620
557,624
$ ,733
Dues & Fees/Bond Interest
4,693,900
4,165,879
$ 4,207,651
Bond Principal
5,590,000
5,886,000
$ 6,267,000
Total Expenditures
$ 106,942,524
Subtotal
$ 1,196,524 $
Ending Fund Balance
Fund Balance as a % of Expenditures
9.00%
8.60%
8.26%