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Harrisburg City School District

October 14, 2013

Informational Presentation to the

Budget, Finance, and Facilities Committee for

FY 2012-13

Unaudited Financial Results

By Peggy Morningstar, CFO

Welcome!

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FY2012/13 Budget vs. ActualRevenues

Approved

Budget

Local $50,009,683

State $62,816,647

Federal $20,437,694

Total Revenues $133,264,024

Expenditures

Approved

Budget

Instruction $80,458,872

Support Services $39,810,943

Non-Instruction $940,280

Other Financing Uses $16,511,569

Total Expenditures $137,721,664

(Deficit) / Surplus ($4,457,640)

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FY2012/13 Budget vs. ActualRevenues

Approved

Budget

Unaudited

10-9-13

Results

Local $50,009,683 $52,473,105State $62,816,647 $63,650,391

Federal $20,437,694 $15,687,072

Total Revenues $133,264,024 $131,810,568

Expenditures

Approved

Budget

Unaudited

Actual

Instruction $80,458,872 $72,505,376

Support Services $39,810,943 $31,472,628

Non-Instruction $940,280 $788,257

Other Financing Uses $16,511,569 $15,444,397

Total Expenditures $137,721,664 $120,210,658

(Deficit) / Surplus ($4,457,640) $11,599,910

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FY2012/13 Budget vs. Actual

Revenues

Approved

Budget

Unaudited

Actual

Variances

Over/(Under)

Local $50,009,683 $52,473,105 $2,463,422

State $62,816,647 $63,650,391 $833,744

Federal $20,437,694 $15,687,072 ($4,750,622)

Total Revenues $133,264,024 $131,810,568 ($1,453,456)

Expenditures

Approved

Budget

Unaudited

Actual

Variances

Over/(Under)

Instruction $80,458,872 $72,505,376 ($7,953,496)

Support Services $39,810,943 $31,472,628 ($8,338,315)

Non-Instruction $940,280 $788,257 ($152,023)

Other Financing Uses $16,511,569 $15,444,397 ($1,067,172)

Total Expenditures $137,721,664 $120,210,658 ($17,511,006)

(Deficit) / Surplus ($4,457,640) $11,599,910

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Revenue Variances

Variances Revenues

$2.4 m

Local Revenues Under Estimated

District received more Real Estate Tax, Earned Income Tax,

Delinq. Real Est. Taxes and local contributions than budgeted.

.8 mState Revenues Under Estimated

District received more PlanCon reimb. than budgeted.

($4.7 m)

Federal Revenues Over Estimated

($2.2 m Title 1)

($483,000 Title 2)

($228,000 Title 3)

($1.5 m ARRA SIG)

($157,000 Impact Aid)($156,000 Access)

($1.5 m) The District Over Estimated Total Revenues.

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Over/(Under)

Budget

Expenditure Variances

$ 3.6 m

Salaries

Overest. for long-term subs., sabbaticals, overtime, regularsalaries, supplements, and leave payouts

$ 6.6 m Employee BenefitsOverest. Group Ins. $4.6 m and Unempl. Comp. $1.4 m and

tuition reimb.

$ 4.0 mProfessional Services

Overest. Prof. Educ. Services for Substitutes, IU services,

educational consultants (Unspent grant funds)

$ 1.2 m Property ServicesOverest. trash, electric, water, and repairs

$ (1.6) m Tuition

Underest. Tuition for Charter Schools$ 3.0 m Supplies

Overest. General supplies and books

(Unspent grant funds & supplies from closed schools)

$ 0.7 m Other

$ 17.5 m Total Expenditure Variance

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Conclusions

Based on a five-year review of the districtsbudgets vs. actual operations, the methods usedto estimate revenues and expenditures forbudgets need refined to reflect accurateforecasting.

The District needs to forecast future budgetsbased on current operations and taking intoaccount changes anticipated in the future, suchas, higher PSERS payments, charter tuition, and

debt payments. The District needs to improve communication

among the Administration, educators, and Boardmembers.

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Next Steps

Next Steps:

Complete the audit process.

Re-evaluate the FY2013/14 budget.

Implement procedural changes in determiningthe budget projections for future years.

Review budget vs. actual operations andreport variances to the Budget, Finance, andFacilities Committee and Board monthly.

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Harrisburg City School District

October 14, 2013

Informational Presentation to the

Budget, Finance, and Facilities Committee for

FY 2012-13

Unaudited Financial Results

By Peggy Morningstar, CFO

Welcome!