DISCUSSION ITEMS

F-196 FY 2008-2009 Year-end Closeout

Date:               November 19, 2009
To:                   Michael Green, Superintendent
Subject:           Year Ended August 31, 2009 Financial Report
From:               Stacy Brown, Director of Business Services

Attached are the 2008-09 Year-end Financial Statements (F-196) and additional documentation I put together regarding the 08-09 financial picture.

Overall, the district ended the year in a good financial position, with the unreserved fund balance equaling 5.9% of the 08-09 expenditures, meeting the board goal of 5%.  The total increase to the fund balance for 08-09 was $326,989.00, with $118,500 of this reserved as building/department carryovers and August State Forest funds.  Building carryovers will be spent down as the year goes on and the State Forest funds will be deducted from our apportionment in January 2010.

I have included a list of financial highlights this year which I hope will give you a broad picture of the district's financial issues for 08-09.  I have included the final sources and uses spreadsheet (which shows where the district levy/local dollars are being spent) and calculates the increase to fund balance.  Detailed revenue and expenditure summaries and comparison to budget are included.  The detailed spreadsheets include for some of the larger differences between budget and actual.

I welcome any questions you may have concerning this information.