2013-2014 YearReview of Major Financial Funds

Mount Vernon Community School District

Nutrition Fund

• The Nutrition provides school meals to students.

• 2013-2014 total revenues were $634,961• 2013-2014 total expenditures were $614,775• Nutrition guidelines changes continue • Net cash balance at June 30, 2014 was

$239,341.19

Day Care Funds

• The Day Care program provides before and after school day care, early childhood day care, and summer day care

• 2013-2014 total revenues were $213,615• 2013-2014 total expenditures were $201,368• Net cash at June 30, 2014 was $12,832.54

Management Fund

• The Management Fund pays the districts liability insurance and any teacher early retirement payments

• 2013-2014 Total Revenues were $400,638• Total Expenditures $285,095 including

$266,048 insurance and $19,047 for early retirement plans

• Net cash balance at June 30, 2014 was $167,758.65

Activity Fund

• The Activity Fund pays for student activities in fine arts, athletics, and clubs

• 2013-2014 Total Receipts were $397,990• 2013-2014 Total Expenditures were $396,980• Net cash balance at June 30, 2014 was

$101,575.01

Capital Projects Fund• Pays for technology expenditures, and

construction debt repayment through sales tax receipts

• 2013-2014 Total Revenue was $926,228• 2013-2014 Total Expenditures were $876,909

including $170,322 in technology, $706,587 debt repayment

• Net cash at June 30, 2014 was $20,227.39

Physical Plant & Equipment Levy

• The PPEL Fund pays for transportation vehicles, building and grounds maintenance, and construction costs

• 2013-2014 Total Revenues were $453,279• 2013-2014 Total Expenditures were $426,104• Net cash at June 30, 2014 was $266,019

Debt Service Fund

• The debt service fund pays debt incurred for construction projects

• 2013-2014 Total Revenue was $1,416,952• 2013-2014 Total Expenditures were

$6,837,432• Net cash at June 30, 2014 was $498,086

Debt Service Fund• Construction Debt outstanding as of June 30,

2014• $5,560,000 from high school construction

payable through 2024 from property tax• $7,330,000 from elementary and middle

school projects payable through 2030 from sales tax receipts

• $135,000 high school constr energy loan payable through 2016 from sales tax receipts

General Fund

• The General Fund pays for school operations not covered by another fund

• 2013-2014 Total Revenues were $12,041,510• 2013-2014 Total Expenditures were

$12,399,701• Net cash at June 30, 2013 was $1,543,001 and

decreased to $1,184,810 at June 30, 2014