2016-2017 Fiscal Year Closeout (F-196)

Attached is a Powerpoint presentation of the 16-17 end of year financial statements (pptx and pdf).  As well, the final sources and uses document (pages 1-2) and some detailed revenue and expenditure comparisons between years (pages 3-5).  These additional documents will not be a part of Stacy Brown's presentation but are provided as additional detail.  If you have questions, please bring them to the meeting and we can go over them.

Also attached is the actual F-196 financial report, which is 68 pages long.  The summary and most important documents to review are the Summary, Balance Sheet, Statement of Revenues, Expenditures, and Changes in Fund Balance, Statement of Fiduciary Net Position -Trust Fund, Statement of Changes in Fiduciary Net Position -Trust Fund and the Schedule of Long-Term Debt.  As you can see, we finished the year, increasing the fund balance by $88,000.  The budget included a decrease to the fund balance of approximately $197,000.  We do have a project to replace the boilers that was anticipated to be completed in 16-17, which cost approximately $66,000.  The project was completed in September and had it been completed in August it would have resulted in a lower fund balance increase of only $22,000.  Increased enrollment and increased budget capacity, among other things, resulted in the final fund balance increase (as discussed in the power point presentation).  Considering how many unbudgeted classified positions that were added in 16-17, We are in a comfortable financial position moving forward into 2017-18.  Please review the documents and let me know if you have any questions, or just bring them to the meeting.