Galion City Schools Financial Summary General Operating Fund 3 rd Quarter - 2012-13 FY Presented to the Board April 17, 2013.

Galion City SchoolsFinancial Summary General Operating Fund3rd Quarter - 2012-13 FY

Presented to the Board April 17, 2013

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Revenues To Date atEnd of 3rd Qtr - 2012-13 FY

Real Estate Taxes $4,207,913.00

Foundation Payments $7,336,878.00

Tangible Personal Property Tax $112,077.00

Homestead & Rollback $523,957.00

Other Revenue $582,351.00

Total Revenue $12,763,176.00

Expenditures To Date at End of 3rd Qtr - 2012-13 FY

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Payrolls $5,874,424.00

Retirement & Insurance Benefits $2,530,004.00

Purchased Services $2,481,216.00

Supplies, Materials & Capital Outlay $306,148.00

Other Expenditures $451,053.00

Total Expenditures as of 3/31/13 $11,642,845.00

Reconciled Cash Balance End of 3rd Quarter – 2012-13 FY

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Beginning Cash Balance 7/1/12 $1,217,057.00

Add: Revenues to date $12,763,176.00

Less: Expenditures to date $11,642,845.00

Cash Balance at 3/31/13 $2,337,388.00

Estimates of 4th Quarter & FYE Cash Balance

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Forecast Exceptions Items that have the ability to change the bottom line of FY forecast/actual

Revenue

E-Rate reimbursement

Medicaid reimbursement

Foundation adjustments

Expenditure

Special Education expenses (autism, etc)

Detention Center Costs/placements

On line coursework (not estimated this year)

Gas payment – actual was more than estimated

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