3RD QUARTER FINANCIAL REPORT

2015/2016

PRESENTED BY:

KATHLEEN ASKELSON CHIEF FINANCIAL OFFICER

Financial Services

Financial Services

CASH MANAGEMENT PAGES 1–3

$0.0

$25.0

$50.0

$75.0

$100.0

$125.0

$150.0

$175.0

$200.0

$225.0

$250.0

$275.0

$300.0

$325.0

July 2015Actual

August 2015Actual

September2015

Actual

October 2015Actual

November2015

Actual

December2015

Actual

January 2016Actual

February2016

Actual

March 2016Actual

April 2016Forecast

May 2016Forecast

June 2016Forecast

Jeffco Public Schools Ending Cash Balances: July 2015 through June 2016

As of March 31, 2016

Restricted for TABOR Restricted for District & Board of Education Reserve Restricted for Capital Reserve

Restricted for TANs Reserve Operating Cash Cash Balance Prior Year

in millions

Revenues Higher than the

prior year due to increased state funding, SOT tax and the move of all-day kindergarten tuition. Revenue is at

60% of budget due to timing of property tax collections.

Expenditures Increased 3% over

prior year primarily due to increased compensation and benefits. Expenditures at

71% of budget. Lower due to

retirement/turnover/unfilled vacancies

GENERAL FUND PAGES 4–12

Financial Services

State equalization funding lower than budget due to decreased students. All-day kindergarten moved to the

General Fund. Salary increases implemented

in September 2015. PERA increased 0.8% in January 2016. Fund Balance Reserves will increase the current year with

the $15 million from Capital Reserve and current year savings.

GENERAL FUND (CONTINUED) PAGES 4–12

Financial Services

OTHER GOVERNMENTAL FUNDS PAGES 14–17

Debt Service Property tax revenue beginning;

interest payments in June.

Capital Reserve Fund/Building Fund Capital Reserve expenditures

will increase in 4th quarter. Supplemental budget for COPs. Building Projects expenditures

are at 65% of budget. Timing and bid of projects create fluctuations from budget.

Financial Services

SPECIAL REVENUE FUNDS PAGES 18–21

Grants Fund Revenues higher due to timing and increase

in Read Act. Lower activity from the

prior year from BEST grants.

Campus Activity Fund Revenues are higher

from math expression fees. Supplemental budget adjustment needed to

cover expenditures from increased activity.

Financial Services

SPECIAL REVENUE FUNDS (CONTINUED) PAGES 18–21

Transportation Fund Revenues are higher than previous year due

to increase in State transportation revenues. Compensation and benefits increased. Materials and supplies is tracking below

budget due to decrease in fuel prices. Supplemental budget adjustment for

security funding.

Financial Services

ENTERPRISE FUNDS PAGES 22–26

Food Service Fund Less meals served compared to prior year. Total expenditures are tracking lower than

previous year due to downturn in sales. Despite decline

in meals, fund is performing well.

Financial Services

ENTERPRISE FUNDS (CONTINUED) PAGES 22–26

Child Care Fund Fees from preschool and before and

after programs. All-day kindergarten moved to General Fund. Schools are spending down reserves built

in prior years for kindergarten; reserves are planned to be zeroed out by end of year.

Property Management Fees from building use. Revenues are comparable to previous year. Expenditures are down, however, master

plan costs have not yet been expensed. Financial Services

INTERNAL SERVICE FUNDS PAGES 27–31

Central Service Fund Increased revenue from math expressions

print job. A supplemental budget adjustment is needed.

Employee Benefits Fund Self insurance activities for dental,

vision and group life. Revenues are higher than previous year

due to a refund from a former provider. Dental and vision claims trending

higher over prior year. Financial Services

INTERNAL SERVICE FUNDS (CONTINUED) PAGES 27–31

Insurance Reserve Fund Insurance reserve for self-insurance

and premiums. Claim expenses are up due to higher

storm and auto claims. Premiums are down from prior year.

Technology Fund District-wide technology. Expenditures lower due to unfilled vacancies

and timing of Mobile Device Readiness project. A supplemental budget adjustment needed for potential write-off of asset.

Financial Services

CHARTER SCHOOLS PAGES 32–34

Two Roads Purchased facility and entered into

a capital lease in March.

Financial Services

ON THE RADAR

Financial Services

Facilities Hiring and Staffing Health Care Reform 2016/2017

Budget Development Student Based Budgeting Budgeting for Outcomes

Process Legislation and

State Forecasts