Barbour County Board of Education Notes to the
Barbour County Board of Education Notes to the Financial Statements for July and August 2018 November 14 th , 2018 Board Meeting
July 2018 Bank Reconciliations
Check Register Accountability Summary 07/01/2018 – 07/31/2018 State Fund Amount: Federal Fund Amount: Local Fund Amount: Totals: $123, 627. 56 $104, 219. 32 $41, 178. 05 $269, 024. 93 *The full detailed register will be available on the Barbour County Schools website after board approval.
July 2018 Combined Balance Sheet
July 2018 Financials
August 2018 Bank Reconciliations
Check Register Accountability Summary 08/01/2018 – 08/31/2018 State Fund Amount: Federal Fund Amount: Local Fund Amount: Totals: $261, 455. 26 $137, 826. 73 $76, 008. 53__ $475, 290. 52 *The full detailed register will be available on the Barbour County Schools website after board approval.
August 2018 Payroll Register
August 2018 Combined Balance Sheet
August 2018 Financials
Conclusion • • • The General Fund has been carrying the majority of the expenses the last several months. The Federal Fund Receivables has a negative balance due to the fact that expenses were paid out from the General Fund, but not transferred out of Federal funds for A/P and P/R. $(149, 498. 07) There are still Federal Funds available to Barbour County that had to be requested from the ALSDE for the months of May 2018 to September 2018. (All of the available FY 2018 funds have been requested as of today, but we have not received them yet. ) There is a trend of more expenditures than revenues each month dating back to the beginning of the Fiscal Year. We had a large injection of funds between December, 2017 and January, 2018, but the fund balance has gradually decreased every month. The School District had more expenditures than usual in regards to it’s aging bus fleet this past year which put a strain on the district financially. As stated in the last budget hearing, we must implement sound accounting practices from week to week in order to reduce expenditures wherever possible if we want to obtain our one month’s operating reserve. Once we get to that point, we must maintain that level of operation. If not, we will see continued months and years of a low operating reserve.
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