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)