Lapeer Community Schools Board Presentation For year ended June 30, - - PowerPoint PPT Presentation

Lapeer Community Schools

Board Presentation For year ended June 30, 2018

Governmental Funds ‐ Balance Sheet

June 30, 2018

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Combined General Fund Non‐major Funds Assets: Cash and cash equivalents 8,214,454 $ 620,096 $ Receivables 7,429,371 114,121 Due from other funds 202,973 ‐ Inventory 12,379 ‐ Prepaid expenses 191,882 ‐ Restricted assets ‐ 1,867,341 Total assets 16,051,059 $ 2,601,558 $ Liabilities: Accounts payable 258,039 $ ‐ $ Due to other governmental units 761,886 ‐ Due to other funds ‐ 203,491 Accrued liabilities and other 4,450,487 State aid anticipation note 6,500,000 Unearned revenue 407,263 ‐ Total liabilities 12,377,675 203,491 Fund balance 3,673,384 2,398,067 Total liabilities and fund balance 16,051,059 $ 2,601,558 $

Governmental Funds – Statement of Revenue and Expenditures

June 30, 2018

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General Fund Nonmajor Governmental Funds Revenue: Local 7,400,657 $ 4,360,978 $ State 40,266,866 76,502 Federal 1,578,130 1,712,127 Total revenue 49,245,653 6,149,607 Expenditures: Instruction 28,961,590 ‐ Support services 18,213,958 ‐ Community services 599,760 ‐ Food services ‐ 2,399,829 Athletics 737,588 ‐ Debt service ‐ 3,766,016 Capital outlay 405,577 11,861 Total expenditures 48,918,473 6,177,706 Excess of revenue over expenditures 327,180 (28,099) Other Financing Sources (Uses) Proceeds from sale of capital assets 11,925 ‐ Transfers in 82,621 206,974 Transfers out (206,974) (82,621) Total other financing sources (112,428) 124,353 Net Change in Fund Balance 214,752 96,254 Fund balance ‐ Beginning of year 3,458,632 2,301,813 Fund balance ‐ End of year 3,673,384 $ 2,398,067 $

Statement of Net Position

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2018 2017 Assets: Cash and cash equivalents 8,834,550 $ 4,416,429 $ Receivables 7,543,492 7,579,944 Inventory and Prepaid costs 204,261 156,509 Restricted assets 1,867,341 1,722,285 Capital assets ‐ Net 62,286,701 64,829,265 Total assets 80,736,345 $ 78,704,432 $ Deferred Outflows of Resources 19,072,077 $ 11,449,611 $ Liabilities: Accounts payable 258,557 866,081 Due to other governmental units 761,886 581,799 Accrued liabilities and other 4,725,374 4,174,723 State aid anticipation note 6,500,000 2,480,516 Unearned revenue 407,263 299,771 Long‐term liabilities 49,770,488 51,626,203 Net Pension liability 77,567,596 76,130,317 Net OPEB liability 26,471,730 ‐ Total liabilties 166,462,894 $ 136,159,410 $ Deferred Inflows of Resources 10,073,419 $ 3,847,452 $ Net Position (Deficit): Net investment in capital assets 15,732,467 16,366,124 Restricted 1,592,481 1,434,537 Unrestricted (94,052,839) (67,653,480) Total net position (Deficit) (76,727,891) $ (49,852,819) $ Governmental Activities

General Fund Revenue Three‐Year Comparison

June 30, 2018

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$0 $5,000 $10,000 $15,000 $20,000 $25,000 $30,000 $35,000 $40,000 $45,000 $50,000 2016 2017 2018 Local $7,091 $7,309 $7,401 State ‐ Unrestricted $32,939 $32,184 $31,346 State ‐ Restricted $7,702 $7,926 $8,921 Federal and Other $1,370 $1,545 $1,578 $49,102 $48,964 $49,246 Thousands of Dollars

General Fund Expenditures

June 30, 2018

Instruction $29,871,021 62% Support Services $16,297,646 34% Community Services $442,505 1% Other $895,006 2% Athletics $826,448 1%

2017 $48,332,626

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Instruction $28,961,590 59% Support Services $18,213,958 37% Community Services $599,760 1% Other $405,577 1% Athletics $737,588 2%

2018 $48,918,473

Instructional Expenditures Compared to Average Group D Schools

June 30, 2018

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61.83 61.83 62.69 62.69 63.8 63.8 62.9 62.9 61.85 61.85 60.99 60.99 63.99 63.99 63.66 63.66 61.54 61.54 58.95 58.95 60.10 60.10 60.93 60.93 61.15 61.15 62.36 62.36 62.08 62.08 62.41 62.41 62.73 62.73 63.71 63.71 63.54 63.54 50 51 52 53 54 55 56 57 58 59 60 61 62 63 64 65 66 67 68 69 70 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 Lapeer SDs of Similar Size

Analysis of General Fund Expenditures (including Transfers) Three‐year comparison

June 30, 2018

$‐ $10,000 $20,000 $30,000 $40,000 $50,000 $60,000 2016 2017 2018 Capital Outlay $296 $839 $406 Supplies, Transfers & Other $2,758 $2,813 $3,157 Purchased Services $3,899 $4,086 $3,640 Salaries and Fringes $41,793 $40,801 $41,923 Dollars (Thousands )

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General Fund Balance Analysis

June 30, 2018

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Metri Metric FY FY Lapeer Lapeer Board Board Goa Goal Statew Statewide Average Average

Fund Balance/Expenditures 2018 7.51% 10% Fund Balance/Expenditures 2017 7.16% 10% 12.79% Fund Balance/Expenditures 2016 6.06% 10% 11.37%

Early Early Wa Warning Me Metrics

Fund Balance/Unrestricted Revenues 2018 9.5% N/A N/A Fund Balance/Unrestricted Revenues 2017 8.7% N/A N/A

Foundation Allowance Analysis and Comparison June 30, 2018

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(Potential Impact on Lapeer’s Foundation ‐ $704,729) (Potential Impact on Lapeer’s Foundation ‐ $2,972,765)

$6,000 $7,000 $8,000 Lapeer State Average Schools of Similar Size

$7,631 $7,773 $8,230

General Fund Revenue and Expenditures Per‐Pupil Analysis

June 30, 2018

2016 2017 2018 Revenue $9,286 $9,539 $9,942 Expenitures $9,198 $9,439 $9,899 State Aid $7,669 $7,800 $8,114 Property Tax $1,110 $1,168 $1,241 $0 $2,000 $4,000 $6,000 $8,000 $10,000 $12,000

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Future Uncertainties – School Funding

• New approach to school funding by Governor/Legislature
• Statewide enrollment levels
• Interest rates and return
• Limited revenue alternatives
• Foundation allowance level
• Dependence upon state and national economy
• Future retirement system contribution rates and health care

costs

• Locally developed and generated revenue sources
• Capital improvements needed and their potential funding

sources

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Thank you.