Report SCHOOLBOAff) October 31,2014 Monthly Budget Report The attached monthly financial report provides a summary of financial activities to October 31,20'14. Revenue and Expenses are compared against the 2014-'15 Approved Budget and last year actuals at October 31 , 2013. External revenues and related expenses are identified separately to allow for greater comparability to the budget. For the second month oî the 2014-2015 fiscal year, Revenue and Expenses are trending as follows: Revenues'. Oct.31 2014 % Received Anticipated YTD Revenues Budoet to budgel % Received $45,158,835 $199,522,771 22.6To 22.00/0 Expenses: Oct.31 2014 % Spent Anticipated YTD Exoenses Budget to budoet % Soent $47,747,326 S'199,522,771 23.9o/o 24.0o/o Financial activity for the first two months o1 the 2014-2015 fiscal year indicate: Revenue is trending as expected Expenses are trending as expected, with spending in certain operating expenses higher than anticipated due to the timing of commitments to purchase materials/services such as textbooks and transportation. Due to the nature of these expenses, activity level is as expected at this point in the year. Financíal activities to October are compared to budget and do not ¡nclude revised estimates in revenue and expenses resulting from actual enrolment, staffing levels and prior year financial results. Revised estimates were completed in Decembe¡ 2014 and will be provided to the Business Gommittee at theír next scheduled meeting. Recommendatlon: That the Business Committee receive the October 2014 Monthly Budget Report for informatlon. Submitted to Business Committee of the Whole Board January 6, 2015 For further information, please contact Rob Cummings, Superintendent of Business Services Preparing Our Students Today for the World of Tomorrow
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Report - Bluewater District School Board · Report SCHOOLBOAff) October 31,2014 Monthly Budget Report The attached monthly financial report provides a summary of financial activities
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ReportSCHOOLBOAff)
October 31,2014 Monthly Budget Report
The attached monthly financial report provides a summary of financial activities to October 31,20'14. Revenue andExpenses are compared against the 2014-'15 Approved Budget and last year actuals at October 31 , 2013. Externalrevenues and related expenses are identified separately to allow for greater comparability to the budget.
For the second month oî the 2014-2015 fiscal year, Revenue and Expenses are trending as follows:
Revenues'.
Oct.31 2014 % Received AnticipatedYTD Revenues Budoet to budgel % Received
Financial activity for the first two months o1 the 2014-2015 fiscal year indicate:
Revenue is trending as expectedExpenses are trending as expected, with spending in certain operating expenses higher than anticipateddue to the timing of commitments to purchase materials/services such as textbooks and transportation. Dueto the nature of these expenses, activity level is as expected at this point in the year.
Financíal activities to October are compared to budget and do not ¡nclude revised estimates in revenue andexpenses resulting from actual enrolment, staffing levels and prior year financial results. Revised estimates werecompleted in Decembe¡ 2014 and will be provided to the Business Gommittee at theír next scheduled meeting.
Recommendatlon:
That the Business Committee receive the October 2014 Monthly Budget Report for informatlon.
Submitted toBusiness Committeeof the Whole BoardJanuary 6, 2015
For further information, please contactRob Cummings, Superintendent of BusinessServices
Preparing Our Students Today for the World of Tomorrow
TotalRevenues
Total Expenses
(Shortfall)/Surplus
199,522,771.00
1 771.O0
0.00
12118120141
Bluewater D¡strict School BoardMonthly F¡nancial Report
Leg¡slative operâting grants provided by the M¡nistry, less tax revenues from Mun¡cipai¡ties Monthly advences are based upon pre-determined percenteges, as specified by the Min¡stry, Eerly advances are based on est¡mates submitted in June of the previous yearThey will be adjusted with subm¡ss¡on of revised estimates GSN received to date is higher than prior year due to inclusion of FDKfunding.
Revenue ftom the defened capital contribution is ettrÍbutable to supported amo¡tization expense. This was not ¡ncluded as a separatebudget item last year.
Percentageof Budget Percentage
Expected
Municipal Tax Revenue
Budget YTD
55,919,979 14,175,351 250/o 13,830,31 5 25 10/o
Tax revenue instalments are received quarterly from '17 municipalities. This revenue, combined with Grants for Student Needs, make upthe total available operating grant revenue from the Ministry.
Received
25.3o/o
Budget YTD YTD 2013
3,950,784Grant for Early Learning (FDK) 0 0 Q.Oo/o
There ìs no longera Full Day Kindergêrten EPO grant. All fund¡ng ¡s now included in the GSN,
Other Prov¡ncial Grants 1,576,944 1,179,034 74.8o/o 670/o 958,256 1O7 ,4o/o
Other Provincial Grants ¡nclude revenues lhat are specìfic purpose. Examples of Other Provincial Grants are MISA, Priori$ Schools,Outreach Coo¡dinator, Outdoor education grant, and Homework Help (eLearning). Other prov¡nc¡al grants that are received in addit¡on tothe budget are transportation fuel increase, mental health Budget figure reflects Other Provincial Grents that were known at June 30Budget Submission t¡me.
Percentageof Budget
Budget YTD Rece¡ved
1,369,451 2,250 0.20/o
Perc€ntageofBudget PercentageReceived Expected
PercentâgeExpected
Tu¡t¡on Feee/Fees from lndividuals Oo/o 2,280 0.2o/o
This revenue represents tuition from F¡rst Netions, Metis, lnuit students, and students from areas outside the board jurisdiclion. lnvo¡ceswill be issued after eech count date for enrolment purposes.
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Budget
285,168
Budgôt
YTD
120,000
Percentageof BudgetReceived
42.1o/o
Percen@eExp€ct€d YTD 2013
Percentageof BudgetReceived
2013
PercenÞgeof BudgetReceived
2013
323.4Vo
Percentâgeof BudgetReceived
2013
Recoyedes/Revenues fiom Other Bo€rds 17o/o 0 0.070
lncludes transportation and purchas¡ng shared service recoveries and OYAP transErs from Bruce Grey Catholic DSB Also includesrevenue from Brazil students vía Avon Maitland.
Budget
PercentâgÞPercentag€ ofBudg€tofBudge{ Peroênbg€ Received
YïD Rece¡ved Þçected YTD2013 2013
Cofimunlly Use Fees 596,000 156,465 26.30/o 17vo 99,058 't8.7/o
lncludes Revenues for continuing Education (Drivers' Ed), Commun¡ty use of schools (after school ac{ivities, rental of fac¡l¡t¡es), rent fromday ceres.
perc€ntage
ofBudget PercentageBudget YTD Received Exp€cted YTD2013
OtherRevenue 71,000 41,111 57.9% 17Vo l58,l1t
Other revenue includes bank lnterest, dassroom donat¡ons, pepsi sales commissions, OEC revenue, energy incerìtives.
Classroom teacher expense consists primarily of salar¡es and benefits. Expenses are on track. Percentagespent slightly lower due to retirement deferrals and to completion of allocations.
Expenses are slightly under last year to date.
Budget Percentage of Percentage Peroentage of Budget2014-2015 YTD Budgetspent Elpected YTD2013 SpentLestyTD
3,246,665 404,633 12.5o/o 14o/o 448í44 11.9%
Expenses include illness end other personal absencæ of teachers, as well as replacement teachers for fìeldtrips and other school activilies, and meetings unrelated to staff development.
Expenses will be monitored against budget.
Budget Percentage of Percentage Percentage of Budget2014-2015 YTD Budget Spent Epec.ted YTD 2013 Spent Last YTD
12,428,U2 2,110,ô49 17.Oo/o 19o/o 2,229,6U 17.9%
Elçenses represent salaries and wages. Expenses are on track. Benefit percentage lower due to reducedretirements and extended health benef¡ts.
Expenses are on track.
1,059,330 181,309 17.10/o 14% 149,297 12.10/o
Expenses include replacement c¡sts for personal illness or absence.
Expenses will be monilored against budget
4,119,743 687,811 16.7% 19% 475,422 17.70/o
This line includes permanent positions and supply costs. Any savings (surplus) in ECE costs are returned tothe Minislry as per Full Day Kgtr funding guidelines.
Expenses are on treck.
17,607,115 2,985,769 17.ú/o 18% 2,8il,373 17-1o/o
1?,1A20ß9
Bluewater District School Board Monthly Report to Business CommitteeSummary of Expenses to Date Oct 31, 2014
Budget Percentage of Percentage2014-2015 YTD Budget Spent Epecled YTD 2013
Expense in this line is attributable to software license and mainlenance fees plus classroom tools. Highpercentages spent ere attributable to blanket orders for full year commitments. Higher spend last ytd due toICT maintenance costs last October.
Higher than expected percenlages are due to comm¡tments made to October,
Percentageof PercentageBudgetSpent Expected
35.9% 36%
Percentage of BudgetSpent Last YTD
84.4o/o
Percentage of BudgetSpent Last YTD
76.5o/o
Percentage of BudgetSpent Last YTD
16.6%
Percentage of BudgetSpent Last YTD
19.0%
lncludes school budgetsi spec¡al equipment for special educat¡on; amortization, the purchase of textsi/otherresources, equ¡pment and/or furniture for the classroom, and classroom supplies.
Budget201+2015
5,089,I 1 I
Budget201+20't5
YTD
1,825,'127
YTD
u7J45
Pêroentage ofBudget Spent
PercentageExpected
YTD 2013
3,713,506
YTD 2013
427,425
Higher than expected percentages are due to commitments made to October.
Budget Percentage of Percentage201+2015 YTD BudgetSpent Expected YTD2013
4,6eÍ,868 815,90't 17.5% 180/o 744,850
Expense includes salaries and benefits and supplies for staff who provide additional supports to studentssuch as: psycholog¡sts, speech therapists, atendance counsellors, OYAP staff, OEC staff, and ICT supportsfor classrooms. Other expenses include seruices for outside contracts w¡th Keystone Child & Youth Servicæs,
Expenses afe on track,
1,987,822 17.5o/o 18o/o
Expense is salaries and benefits for secondary teachers in library/guidance and library technicians inelementary schools. Funding is provided $1 13,270.00 for the elementary school technicians.
Benefit allocation in December 2014.
12t18t201410
Bluewater District School Board Monthly Report to Business CommitteeSummary of Expenses to Dete Oct 31, 2014
Budget Peroentage of Percgntege2014-20'15 YTD Budget Spent Expec.ted YTD 2013
Staff Development
Risk
Goordinato¡s/Gonsultantg
Risk
PrincipabMce Principals
Risk
School Ofñce
Risk
1,146,U1 50,¿149 4.4o/o 2Oo/o 36,310 11.9%
Expense is rclated to classroom teachers professional leaming in schools and central teacher training forprograms such as student success,
Expenses are currently lracking under budget.
Budget Percentage of Percentage percentage of Budget201+2015 YTD Budget Spent Expected YTD 2013 Spent LastyTD
2,213,7æ 362,715 16.40/0 17Vo 328,611 14.7o/o
Coordinators and Consultents ¡nclude staff who support teachers in the clessroom. Expenses includeselar¡es, benef¡ts and suppl¡es for System cuniculum lead teachers, assistants to Supervisory officers andsupport staff, Student Success slaff, end System Special Education lead teachers. This line also includesstaffing for education programs as directed by the ministry through EPO grants. (math coach and SWSTpositions)
Expenses are tracking to budgêt
Budget201+2015
E,739,937
Percentage ofBudget Spent
16.4o/o
PeroentageExpected
15o/o
YTD 2013
1,287,981
Percentage of BudgelSpent Last YTD
Percentage of BudgetSpent Last YTD
14.6%
YTD
1,437,315
lncludes salaries, benefits, supplies and professional development for school administrators.
Expenses are tracking slightly over budget due to illness supply costs and retirement gratuity payouts.
Budget Percentage of Percentage Percentage of Budget201+2015 YTD BudgetSpent Epected YTD2013 SpentLastYTD
4,658,164 1,U1JU 22.4o/o 160/o 810,066 16.20/o
School Office envelope includes all expenses for school offices, such as salaries and benefìts for officeprofessionals, offìce supplies (photocopying, telephone, paper supplies, office fumishings), and professionaldevelopment for off¡ce professionals.
Supplies and services expense includes Trillium annual maintenance.
1?,18t20'1411
Bluewater District School Board Monthly Report to Business CommitteeSummary of Expenses to Date Oct 31, 2014
Budget Perc€ntage of Percentage2014-2015 YTD Budget Spent Expected YTD 2013
'13,159,332 12,627,032 96.0% 96% 12,487,452
Percentege of BudgetSpent Last YTD
9ô,670Transportatlon
Risk
Operations & Maintenance
R¡sK
Gontinuing Education
R¡sK
T¡ustees
Risk
Supervisory Oñ¡cersrDircctor
Risk
Transportation expenses include salaries and benefits, bus and taxi contracts and as well as supplies ofequipment on board buses.
Entire budget commited for the year
Budget Percentage of Percentage Percentage of Budget2014-2015 YTD Budget Spent Expscted YTÐ 2013 Spent Last YTD
25,831,379 5,763,430 22.30/o 16% 5,358,011 20J0/o
This line includes salaries and benefits for plant management staff, school custodians, and maintenancepersonnel. lt includes expenses for maintenance supplies in schools (paper towel, soap, cleaning suppliesand equipment), as well as utility costs at each location, water testing, and maintenance services such aspainting and repair work. Contractual services include snow removal, grass cutting, and waste management.One of the largest expenses in this line is for amortizetion of our buildings, which is matched by revenue fromthe DCC (Defened Capital Contributions).
Suppties and services are commited for the entire year.
Budget Percentage of Percentage Percentage of Budget201+2015 YTD BudgetSpent Expected YTD 2013 Spent LastYTD
889,892 113,974 12.8o/o 167o 117,698 14.4o/o
ln addition to the drivers'education program and community use of schools, expenses include salaries andbenefits for staff members.
Small surplus is expected.
Budget Percentage of Percentage Percentage of Budget2014-2015 YTD Budget Spent Expected YTD 2013 Spent LastYTD
161,625 18,092 1'1.2% 17o/o 20,876 13 Oo/o
Expense for trustees include honorariums and benefits, staff development, meeting expenses and mileage.
Reduction in the number of the first nat¡ons trustees compaired to budget.
Budget Percentage of Percentage Percentage of Budget2014-2015 YTD Budget Spent Expected YTD 2013 Spent Last YTD
1,024,273 149,776 14.6% 15o/o '142,147 15.070
Expenses include salaries and benefits for director and supervisory offìcers, professional memberships, staffdevelopment, and mileage
12,'18t2014
Expenses are on track,
12
Bluewater District School Board Monthly Report to Business CommitleeSummary of Expenses to Detc Oct 31, 2014
Budg€t Percentagc of Percentegê2014-2015 YTD Budgst Spent Expectêd YTD 2013
Costs include salaries and benefits for the following departments: finance; HR; purchasing; and health &safety. Also included here are executive assistants to the director and superintendents of schools, Othercosts ¡nclude general office supplies, telephone expense, utilities for Bluewater Education Centre, legal fees,interest fees, and audit fees.
Percentage ofBudget Spent
Percentage ofBudget Spent
PercentageExpected
PeræntageExpected
YTD 2013
56,680
YTD 2013
847,406
YTD 2013
Pcrcentagc of BudgctSpent Last YTD
19.90/o
Pcrccntage of BudgetSp€nt Last YTD
6.30/o
Percentage of BudgetSpent Last YTD
Percentage of BudgetSpent Last YTD
Supplies and service expense as wall as contracts ere comm¡ted.
Budget Percentage of Percentagc201+2015 YTD BudgetSpent ExpecGd
307,158 5't,513 16.8% 17o/o
The budget includes ¡nterest expense fo unsuppoled debt.
Expenses are matched with revenue. Timing of expend¡tures varies due to seasonal fluctuations andavailability of contractors.
9.4% 9o/o 18.3%
The board's debt includes OFA loans and Debentures for capital projects and represents interest paymentson this debt in budget l¡nes for School Renewal, New Pupil Places, Diect Capital, Good Places to Leern,Priority Capital end Other (55 School Board Trust Debt). These paymenb are fully supported by the ministry