Lowell Joint School District Tradition of Academic Excellence

Lowell Joint School District Tradition of Academic Excellence Since 1906 “Home of Scholars and Champions” Unaudited Actuals Financial Report as of June 30, 2018 Presented to the Board of Trustees September 10, 2018

Revenue 2017/18 General Fund 2

Revenue Percentages 2017/18 General Fund 3

Summary of Revenue 2017/18 General Fund § All revenue sources decreased $208, 260 from budget estimates üPrimary decrease is federal revenue decrease of $224, 000 due to unspent dollars (will be recognized when spent in 18/19) 4

Expenses 2017/18 General Fund 5

Summary of Expenditures 2017/18 General Fund Actual expenses were $1, 144, 000 less than budgeted ü$284, 000 School Site Budgets unspent ü$332, 000 Supplemental Funds unspent ü$237, 000 Federal Funds unspent (does not affect fb) ü$55, 000 Contribution to IDEA not necessary ü$214, 000 Unspent Grant Funds (restricted fund bal) ü$52, 000 Unspent Chromebook Initiative ü$260, 000 Unspent unrestricted salaries and benefits ü$86, 000 Unspent utilities, equipment ü$(383, 000) Additional Transfers Out 6

Expenditure Percentages 2017/18 General Fund 7

2017/18 Fund Balance Actual unrestricted ending balance is $722, 195 more than projected at Estimated Actuals ü$284, 000 School Site Budgets Carryover ü$55, 000 Contributions to IDEA not necessary ü$52, 000 Unspent Chromebook Initiative ü$260, 000 Unspent unrestricted salaries and benefits ü$86, 000 Unspent utilities, equipment 8

Technology Chromebook Initiative Funds § § § Initiative began in 2015/16 - 1, 015 chromebooks 2016/17 - 980 chromebooks 2017/18 - 315 chromebooks 2018/19 - 380 chromebooks full implementation 3 rd-8 th $1. 9 million one-time mandate reimbursement revenues have been dedicated to this program 9

Technology Chromebook Initiative Funds § Dedicated amounts allow for implementation and one round of replacement § Infrastructure demands have been addressed on a limited basis § $222, 000 has been spent since 2013/14 to allow wireless access at all sites for all phases § More permanent cabling should be provided for system integrity; no plans as of yet to address 10

Financial Report Observations Good News üWe’re not declining in enrollment! Current ADA generating enrollment is about 18 above 2017/18. In addition, we have 44 TK students with birthdays after December 1. These students will begin generating ADA when they turn 5 years old. Birthdates range between December 5 and March 22. These students will also increase ADA later this year - and stay with the Lowell family for the next 9 years 11

Financial Report Observations District-wide Class size information: ØTK-3 Currently ranges between 22. 2 -25. 4 Ø 4 th-6 th Currently ranges between 24 -36 Ø 7 th-8 th Currently class size average is 25. 5: 1 12

Next Certification of District’s financial condition will be on December 10, 2018 (First Interim) Board Member Questions 13