INDEPENDENCE LOCAL SCHOOLSDecember 2020 Financial Reports

Fiscal Year 2021

Exhibit #2

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Fiscal Year 2021 Revenue Collection by Fund

Independence Local Schools

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Amount  Fiscal Month Available Revenue Year Revenue YearFund Description Fund Budgeted To date To Date Balance Collected Completed Outstanding Remaining

General 001 18,821,472$  8,684,227$      214,914$        10,137,245$  46.14% 50.00% 53.86% 50.00%Bond Retirement 002 1,162,307       545,979            ‐                        616,328           46.97% 50.00% 53.03% 50.00%Permanent Improvement 003 725,070           339,656            ‐                        385,414           46.84% 50.00% 53.16% 50.00%Building 004 ‐                        ‐                          ‐                        ‐                        0.00% 50.00% 0.00% 50.00%Food Service 006 288,000           49,973              6,597               238,027           17.35% 50.00% 82.65% 50.00%Special Trust 007 ‐                        ‐                          ‐                        ‐                        0.00% 50.00% 0.00% 50.00%Endowment 008 ‐                        ‐                          ‐                        ‐                        100.00% 50.00% 0.00% 50.00%Uniform School Supplies 009 2,625               150                    35                     2,475               0.00% 50.00% 0.00% 50.00%Public Sch. Support 018 50,000             13,193              200                   36,807             26.39% 50.00% 73.61% 50.00%Other Grants 019 ‐                        ‐                          ‐                        ‐                        0.00% 50.00% 0.00% 50.00%District Agency 022 10,000             2,000                 ‐                        8,000               20.00% 50.00% 80.00% 50.00%Student Managed Activity200 240,970           35,508              2,317               205,462           14.74% 50.00% 85.26% 50.00%District Managed Activity 300 109,000           30,183              6,586               78,817             27.69% 50.00% 72.31% 50.00%State Grants 400 232,220           125,438            16                     106,782           54.02% 50.00% 45.98% 50.00%Federal Grants 500 238,041           52,225              52,225             185,816           21.94% 50.00% 78.06% 50.00%

21,879,705$  9,878,534$      282,890$        12,001,171$  45.15% 50.00% 54.85% 50.00%

General Fund Revenue Collection

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- TIF & Real Estate collections down from previous fiscal year.

- Interest Rev. down.- State funding reduction Fy21.

Month End 12‐31‐2020 Fiscal Year 2021Actual Budget/Estimate Variance Actual Budget/Estimate Variance

Real Estate ‐$                           ‐$                             ‐$                     5,561,392$              5,561,392$            ‐$                     TPP (PUPP only) ‐                             ‐                                ‐                        393,289                    393,289                  ‐                       Foundation 55,088                  56,572                    (1,484)             381,725                    347,038                  34,687            Restricted Grants ‐                             ‐                                ‐                        ‐                                 ‐                                ‐                       Home/Roll ‐                             ‐                                ‐                        591,074                    592,359                  (1,285)            Other/Misc. 159,827                64,676                    95,151            1,756,747                1,581,851              174,896         

Total Revenue: 214,915$             121,248$                93,667$          8,684,227$              8,475,929$            208,298$       

Fiscal Year 2021 Expenditure Projection by Fund Exhibit #2

Independence Local Schools

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FY‐21 w/o Encumb. % of Fiscal   % of Fiscal Amount  Fiscal Month Current  Available % of Projected Year % of Budget Year

Fund Description Fund Expendable To date To Date Encumbrances Balance Expended Completed Available Remaining

General 001 19,937,574$  9,690,102$     1,284,167$     2,113,450$         8,134,023$    48.60% 50.00% 51.40% 50.00%Bond Retirement 002 1,021,200       842,990           ‐                        164,000               14,210$          82.55% 50.00% 17.45% 50.00%Permanent Improvement 003 528,644          229,448           (27,324)           164,509               134,687$        43.40% 50.00% 56.60% 50.00%Building 004 ‐                        ‐                         ‐                        ‐                             ‐$                      0.00% 50.00% 0.00% 50.00%Food Service 006 314,887          114,366           13,703             24,324                 176,197$        36.32% 50.00% 63.68% 50.00%Special Turst 007 1,602               ‐                         ‐                        ‐                             1,602$             0.00% 50.00% 100.00% 50.00%Endowment 008 500                   ‐                         ‐                        ‐                             500$                0.00% 50.00% 100.00% 50.00%Uniform School Supplies 009 4,500               ‐                         ‐                        500                       4,000$             0.00% 50.00% 100.00% 50.00%Public Sch. Support 018 62,430             14,484             204                   8,364                    39,582$          23.20% 50.00% 76.80% 50.00%Other Grants 019 ‐                        ‐                         ‐                        ‐                             ‐$                      0.00% 50.00% 0.00% 50.00%District Agency 022 10,650             953                   330                   5,000                    4,697$             8.95% 50.00% 91.05% 50.00%Student Managed Activity 200 256,920          44,086             1,243               18,756                 194,078$        17.16% 50.00% 82.84% 50.00%District Managed Activity 300 120,000          52,042             180                   16,647                 51,311$          43.37% 50.00% 56.63% 50.00%State Grants 400 322,734          41,534             3,445               103,511               177,689$        12.87% 50.00% 87.13% 50.00%Federal Grants 500 238,141          94,708             94,608             ‐                             143,433$        39.77% 50.00% 60.23% 50.00%

22,819,783$  11,124,713$   1,370,556$     2,619,061$         9,076,008$    48.75% 50.00% 51.25% 50.00%

General Fund Expenditure

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Month End 12‐31‐2020 FYTD‐2021Actual Budget/Estimate Variance Actual Budget/Estimate Variance

Personnel/Salaries 791,416$         836,668$             (45,252)$             5,201,591$     5,271,982$          (70,391)$              Benefits 299,040           338,143                (39,103)               2,012,603       2,038,328            (25,725)                Purchased Services 165,185           167,913                (2,728)                  1,802,180       1,849,808            (47,628)                Supplies 22,871              34,000                  (11,129)               403,482           385,638                17,844                  Equipment 2,491                4,242                    (1,751)                  69,842             201,617                (131,775)              Debt Service ‐                         ‐                             ‐                            98,624             98,624                  ‐                             Other/Misc.  3,164                6,718                    (3,554)                  101,781           123,752                (21,971)                Transfers ‐                         ‐                             ‐                            ‐                        ‐                             ‐                             

1,284,167$     1,387,684$          (103,517)$           9,690,103$     9,969,749$          (279,646)$           

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Independence Local SchoolsFiscal year 2021 Cash Flow by Fund

7/1/2020 Fiscal   Fiscal 12/31/2020Cash Yr. to Date Yr. to Date Cash

Fund Description Fund Balance Revenue Expenditures Balance

General 001 $13,182,458 8,684,227$    9,690,102$            $12,176,583Bond Retirement 002 3,892,048     545,979          842,990                  3,595,037    Permanent Improvement 003 347,326         339,656          229,448                  457,535        Building 004 ‐                      ‐                        ‐                               ‐                     Food Service 006 46,393           49,973             114,366                  (18,000)        Special Trust 007 3,141             ‐                        ‐                               3,141            Endowment 008 8,719             ‐                        ‐                               8,719            Uniform School Supplies 009 15,331           150                   ‐                               15,481          Public Sch. Support 018 27,398           13,193             14,484                    26,107          Other Grants 019 ‐                      ‐                        ‐                               ‐                     District Agency 022 15,370           2,000               953                          16,417          Student Managed Activity 200 186,705         35,508             44,086                    178,128        District Managed Activity 300 25,525           30,183             52,042                    3,666            State Grants 400 66,265           125,438          41,534                    150,169        Federal Grants 500 100                 52,225             94,708                    (42,384)        

$17,816,778 $9,878,534 $11,124,713 $16,570,598

Fiscal Year 2021 vs. Fiscal Year 2020 Exhibit #2

General Fund Monthly Expense Comparison

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August‐20 September‐20 October‐20 November‐20 December‐20 Total FYTD‐21Expenses Expenses Expenses Expenses Expenses Expenses

  3 Pay Month

723,686$           870,424$           1,266,289$       829,010$           791,416$           5,201,591$      335,198             318,060             406,879             347,741             299,040             2,012,603$      454,080             208,162             205,545             549,800             165,185             1,802,180$      78,741                92,635                37,709                25,102                22,871                403,482$          4,490                  6,105                  26,723                3,646                  2,491                  69,842$            3,017                  78,069                3,378                  101,305             3,164                  200,405$          

1,599,212$       1,573,455$       1,946,523$       1,856,604$       1,284,167$       9,690,103$      

August‐19 September‐19 October‐19 November‐19 December‐19 Total FYTD‐20Expenses Expenses Expenses Expenses Expenses Expenses

    3 Pay Month

743,424$           882,715$           824,145$           1,185,793$       871,680$           5,226,607$      314,614             326,732             321,880             372,038             347,046             1,972,133         225,451             162,972             723,460             151,613             175,789             1,607,257         87,159                84,974                50,762                27,022                46,239                366,350            5,484                  109,429             6,448                  811                      8,186                  267,482            78,220                16,017                3,798                  114,097             13,403                234,925            

1,454,352$       1,582,839$       1,930,493$       1,851,374$       1,462,343$       9,674,754         

144,860$           (9,384)$              16,030$             5,230$                (178,176)$         15,349$            

Purchase Capital Other  Over/UnderSalaries Benefits Services Supplies Outlay Expenses Previous Yr.(25,016) 40,470 194,923 37,132 (197,640) (34,520) 15,349$        

Exhibit #2

Actual Month-End General Fund Cash Balance

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Large variances in cash flow are due to the Real Estate collection cycles in the spring and fall. (Feb. & March – August & Sept.)

Fiscal year 2021 Investment/Reconciliation Report

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CASH RECONCILIATION MonthlyDecember 31, 2020 Balances Interest CYTDStar Ohio 7,869,522.25$       935.97$         66,447.38$        Star Plus 1,110,832.13         136.79            6,441.03             USBank 6,852,177.00         9,264.72        135,643.39        Dollar Bank 228,100.25             ‐                   ‐                       Dollar Bank 42,518.69               ‐                   ‐                       Independence Bk Savings 495,792.17             79.55              820.27                Independence Bk Checking 120,412.94             ‐                   ‐                       

Total  Balance Per    Bank Statement 16,719,355.43$     10,417.03$     209,352.07$      

E/Z Pay Dept. not recorded (21.60)   ‐$                 PS CaféDeposit not recorded 0.00   ‐$                 MS CaféNFS 324.00 ‐$                 HS CAFÉOutstanding Checks (106,540.91) ‐$                 caféOutstanding Payroll  checks (42,518.84) ‐$                  Payroll  ACH In‐Transit 0.00 ‐$                Bank Fees 0.00 ‐                   Total  In‐TransitTotal  Adjustments (148,757.35)

Adjusted Total  BalancePer Bank Statement 16,570,598.08$    

Fund Balances 16,570,598.08  

Difference ‐$                        

Check RegisterInformational Item Warrants over $1,500

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12‐1‐2020 to 12‐31‐2020Check Amount Vendor Description Check Amount Vendor Description21452 1,535        Division Of Water Utilities 801590 6,212        Medicare/Fica Payroll benefits21462 1,645        Meritech Copier service fee 801597 7,165        Medicare/Fica Payroll benefits21488 1,744        Maple Heights Autoparts Inc. Fleet parts 21545 7,400        North Coast Concrete, Inc. HS entrance21492 1,776        Northern Ohio Provisions Llc Cafeterias 21542 8,125        Meg Inc. Special Education21539 1,800        Fit Technologies Auxiliary services 21458 8,451        Lykins Oil Company Fleet fuel21555 1,830        Theatrical Rights Student activities 21467 9,237        Suburban School Transportation Special Education21494 1,836        Schindler Elevator Inspection 21446 9,458        Delta Dental Dental benefits21497 1,895        School Specialty Instructional supplies 801587 10,870     Sers Retirement benefits21557 2,072        Air Force One, Inc. HVAC 801594 10,980     Sers Retirement benefits21533 2,425        Brindza, Mcintyre And Seed Legal 21553 11,120     United Cerebral Palsy Assoc. Special Education21469 2,450        Tyler Technologies Inc. Fleet software 21567 12,916     United Cerebral Palsy Assoc. Special Education21531 2,697        Air Force One, Inc. HVAC 21541 13,300     Kidslink Neurobehavioral Ctr. Special Education21548 3,288        Suburban School Transportation Special education 21470 13,600     United Cerebral Palsy Assoc. Special Education21481 3,500        Cmp Communications Llc Public relations 21550 18,188     Illuminating Company, The Utilities21491 3,718        Northeast Ohio Reg. Sewe Utilities 21506 23,000     Northern Climate Control Llc HVAC ‐CRF grant exp.21505 3,735        Northern Climate Control Llc HVAC CRF grant 21450 27,515     Bureau Of Workers Compensation BWC premium21534 3,950        Cengage Learning Instructional supplies 801589 46,273     State Teachers Retirement Retirement benefits21495 5,162        Educational Service Cent Personnel 801596 54,517     State Teachers Retirement Retirement benefits21560 5,409        Dominion East Ohio Utilities 801591 69,312     Payroll Transfer December Payroll21493 5,800        Ohio Schools Council (Gas) Utilities 801585 194,039   Orange City Schools‐Shc Medical benefits801588 5,800        State Teachers Retirement System Retirement benefits 801592 393,233   Payroll Transfer December Payroll801595 5,800        State Teachers Retirement System Retirement benefits 801583 402,245   Payroll Transfer December Payroll

Monthly Cafeteria Report

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Salaries & Benefits will continue with limited

revenue coming in.

FY‐2021 2020 2020 2020 2020 2020 2020 FY‐2021July August September October November December Total

ReceiptsHigh Sch. ‐                       365                  1,228              74                    ‐                       10                    1,676             

Middle Sch. ‐                       840                  1,740              31                    30                    ‐                       2,641             Primary Sch. ‐                       355                  1,726              130                  87                    ‐                       2,298             

Other ‐                       ‐                       96                    12,104            24,572            6,587              43,359           Total Receipts ‐                       1,560              4,790              12,338            24,689            6,597              49,973           

Expenditures   3 pay month   TotalHigh Sch. 2,693              2,939              3,606              8,656              4,872              5,538              28,305           

Middle Sch. 2,966              3,117              3,804              11,046            4,393              2,647              27,973           Primary Sch. 2,672              2,609              4,503              14,470            7,152              5,151              36,558           

Other 5,361              6,348              5,450              3,106              898                  367                  21,530           Total Expenditu 13,693            15,014            17,364            37,279            17,314            13,703            114,366         

Balance to Date: 46,393            (18,000)         FY‐2020 Balance 2019 2019 2019 2019 2019 2019 FY‐2020

July August September October November December TotalReceipts

High Sch. 75                    3,562              5,658              9,464              6,839              6,064              31,661           Middle Sch. 60                    5,654              7,343              10,057            8,021              6,404              37,539           Primary Sch. 110                  7,423              7,708              9,800              8,995              7,673              41,708           

Other ‐                       ‐                       611                  7,952              135                  5,026              13,725           Total Receipts 245                  16,639            21,320            37,273            23,990            25,166            124,633         

Expenditures 3 pay month TotalHigh Sch. 4,826              2,868              4,272              16,572            16,894            10,818            56,250           

Middle Sch. 3,439              3,439              5,281              12,967            13,704            11,640            50,471           Primary Sch. 2,295              2,359              4,775              12,548            14,690            11,228            47,894           

other 7,420              4,800              220                  1,289              2,665              1,151              17,546           Total Expenditu 17,980            13,467            14,548            43,376            47,952            34,837            172,160         alance to  Date: 34,287            (13,241)         

FY‐2021 FY‐2020 Inc./Dec.July ‐ July ‐ overDec. 31 Dec. 31 Previous yr.

Salaries 68,290            75,861            (7,571)Benefits 22,719            22,565            153Purch. Serv. 8,431              11,894            (3,463)Supplies 14,726            61,840            (47,114)Equipment 200                  ‐                       200

114,366          172,160          (57,794)

Expenditure Categories:

Expenditure Categories:

FY‐2021 FY‐2020 Inc./Dec.July ‐ July ‐ overDec. 31 Dec. 31 Previous yr.

Sales Type A 6,615              110,908          104,293Misc., Vending 288                  4,928              4,640State Subsidy ‐                       ‐                       0Federal Subsidy 43,071            8,797              (34,274)Transfer ‐                       ‐                       0

49,973            124,633          74,659

Revenue Categories:

Revenue Categories:

Cafeteria Meals Served & Year-end Summary

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FY‐21 2020 2020 2020 2020 2020 2021July August September October November Total

Meals Served/# Serving Days ‐            22 21 6 49                       

High Sch. ‐                    ‐            ‐                  1,227         307            1,534                

Middle Sch. ‐                    ‐            ‐                  2,555         723            3,278                

Primary Sch. ‐                    ‐            ‐                  3,078         810            3,888                

Total Meals Served ‐                    ‐            ‐                  6,860         1,840         8,700        FY‐20 2019 2019 2019 2019 2019 FY‐2020

July August September October November TotalMeals Served/# Serving Days 3 19 22 16 60

High Sch. ‐                    151      1,110         1,233         871            3,365        Middle Sch. ‐                    224      1,703         2,032         1,571         5,530        Primary Sch. ‐                    265      2,394         2,845         2,349         7,853        

Total Meals Served ‐                    640      5,207         6,110         4,791         16,748     

Over/Under Previous FY: (8,048)