2014 Financial Report
Logan City School District Summary Budget FY15 (Final- June 1, 2013)
M & O
Fund 10		 Student Act.
Fund 21		 Debt Services
Fund 31		 Capital Outlay
Fund 32		 Food Services
Fund 49		 Summary
All funds
Revenues
Local $9,984,864 27% $1,082,500 100% $2,087,733 100% $3,674,863 100% $660,000 21% $17,489,960 37%
State $23,210,027 62% - 0% - 0% - 0% $340,000 11% $23,550,027 50%
Federal $3,979,342 11% - 0% - 0% - 0% $2,100,500 68% $6,079,842 13%
Total Revenue $37,174,233 100% $1,082,500 100% $2,087,733 100% $3,674,863 100% $3,100,500 100% $47,119,829 100%
Expenditures
Salaries $21,667,728 56% - 0% - 0% $300,000 7% $1,000,000 31% $22,967,728 47%
Employee Benefits $10,215,142 26% - 0% - 0% $178,380 4% $308,767 10% $10,702,289 22%
Purchased Prof./Tech Services $1,642,624 4% $150,000 12% - 0% $275,000 7% $50,000 2% $2,117,624 4%
Purchased Property Services $472,750 1% $4,500 0% - 0% $1,410,000 34% $35,000 1% $1,922,250 4%
Other Purchased Services $1,668,791 4% $49,000 4% - 0% $120,000 3% $5,550 0% $1,843,341 4%
Supplies $2,351,770 6% $912,000 73% - 0% - 0% $1,540,000 48% $4,803,770 10%
Property/Equipment $472,987 1% $25,000 2% - 0% $1,157,000 28% $75,000 2% $1,729,987 4%
Miscellaneous $61,996 0% $155,700 9% $2,157,350 100% $723,772 17% $216,000 7% $3,274,818 7%
Total Expenditures $38,553,788 100% $1,256,200 100% $2,157,350 100% $4,164,152 100% $3,230,317 100% $49,361,806 100%
Revenues Over (Under) Expenditures ($1,379,555) ($173,700) ($69,617) ($489,289) ($129,187) ($2,241,977)
Other Financing Sources (Uses) ($50,000) $50,000 ($50,000) - - -
Budgeted Net Change In Fund Balance ($1,429,555) ($123,700)/td> $($69,617) ($489,289) ($129,817) ($2,241,977)
Budget Beginning Fund Balance $4,884,237 $459,813 $690,030 $2,263,543 $403,661 $8,701,284
Budget Ending Fund Balance $3,454,682 $336,113 $620,413 $1,774,254 $273,844 $6,459,307
Tentative Tax Rate Valuation $1,829,665,716 (Per Utah State Tax Commission)
Tentative Proposed Tax Levies Tax Levies Tax Levies Tax Levies Tax Levies Tax Levies
Basic School Levy 0.001651 0.001651
Voted Local Levy 0.000852 0.000852
Board Local Levy 0.002490 0.002490
Capital Local Levy 0.002104 0.002104
GO Bond Payments Levy 0.001188 0.001188
Total 0.04993 N/A 0.001188 0.002104 N/A 0.008285
General Fund This fund is the chief operating fund of the school district. It is used to account for all financial resources of the school district except those required to be account for in another fund. A district may have only one general fund.
Student Activities Fund This fund is a special revenue fund and is used to account for the financial resources of individual schools.
Tax Increment Financing Fund The fund is used to show the funds the district is not receiving due to RDAs.
Debt Service Fund This fund is used to account for the accumulation of resources for, and the payment of, general obligation long-term debt principal and interest.
Capital Outlay Fund This fund is used to account for resources and payment for the acquisition of capital facilities and equipment.
Food Services Fund The fund is used to account for the resources and payment of the child nutrition program.
2014 Financial Summary
FY14 TENTATIVE BUDGET
10 General Fund ACTUAL FY2012 FINAL BUDGET FY2013 TENTATIVE BUDGET FY2014 BUDGET CHANGE
REVENUES BY SOURCE
1000 Total Local $9,494,531 $9,993,364 $9,984,864 ($8,500)
3000 Total State $22,846,077 $23,073,111 $23,210,027 $136,916
4000 Total Federal $5,066,728 $4,154,980 $3,979,342 ($175,638)
TOTAL REVENUES $37,407,336 $37,221,455 $37,174,233 ($47,222)
EXPENDITURES BY OBJECT
100 Salaries $20,668,878 $21,414,801 $21,667,728 $252,927
200 Employee Benefits $9,253,934 $10,503,867 $10,215,142 ($288,725)
300 Purchased Professional and Technical Services $1,259,756 $1,642,624 $1,642,624 -
400 Purchased Property Servcies $419,769 $472,750 $472,750 -
500 Other Purchased Services $1,797,042 $1,668,791 $1,668,791 -
600 Supplies $2,331,278 $2,350,770 $2,351,770 $1,000
700 Property $871,349 $472,987 $472,987 -
800 Other Objects $42,314 $61,996 $61,996 -
TOTAL EXPENDITURES $36,644,320 $38,588,586 $38,553,788 ($34,799)
EXCESS (DEFICIENCY) OF REVENUES OVER (UNDER) EXPENDITRUES $763,016 ($1,367,131) ($1,379,555) ($12,423)
OTHER FINANCING SOURES (USES) AND OTHER ITEMS $1,227,493 ($50,000) ($50,000) -
NET CAHNGE IN FUND BALANCE $1,990,509 ($1,417,131) ($1,429,555) ($12,423)
FUND BALANCE-BEGINNING (From Prior Year) $3,141,880 $6,301,368 $4,884,237
Adjustments to Beginning Fund Balance (Attach Detail)
FUND BALANCE - ENDING $5,132,389 $4,884,237 $3,454,682
2014 Financial Summary
FY14 TENTATIVE BUDGET
SUMMARY - 21 STUDENT ACTIVITY FUND FY11 ACTUAL FY12 FINAL FY13 TENTATIVE BUDGET BUDGET CHANGE
REVENUES BY SOURCE
1000 Total Local $1,205,738 $1,082,500 $1,082,500 -
3000 Total State $1,054 - - -
4000 Total Federal - - - -
TOTAL REVENUES $1,205,738 $1,082,500 $1,082,500 -
EXPENDITURES BY OBJECT
100 Salaries - - - -
200 Employee Benefits - - - -
300 Purchased Professional and Technical Services $146,140 $150,000 $150,000 -
400 Purchased Property Servcies $4,268 $4,500 $4,500 -
500 Other Purchased Services $48,440 $49,000 $49,000 -
600 Supplies $876,839 $912,000 $912,000 -
700 Property - $25,000 $25,000 -
800 Other Objects $116,764 $115,700 $115,700 -
TOTAL EXPENDITURES $1,192,451 $1,256,200 $1,256,200 -
EXCESS (DEFICIENCY) OF REVENUES OVER (UNDER) EXPENDITRUES $14,341 ($173,700) ($173,700) -
OTHER FINANCING SOURES (USES) AND OTHER ITEMS $65,077 $50,000 $50,000 -
NET CAHNGE IN FUND BALANCE $79,418 ($123,700) ($123,700) -
FUND BALANCE-BEGINNING (From Prior Year) $504,095 $583,513 $459,813
Adjustments to Beginning Fund Balance (Attach Detail)
FUND BALANCE - ENDING $583,513 $459,813 $336,113
FY14 TENTATIVE BUDGET
SUMMARY - 31 DEBT SERVICE FUND FY12 ACTUAL FY13 FINAL FY14 TENTATIVE BUDGET CHANGE
REVENUES BY SOURCE
1000 Total Local $2,329,191 $2,290,373 $2,087,733 ($100,256)
3000 Total State - - - -
TOTAL RENEVUES $2,329,191 $2,290,373 $2,087,733 ($100,256)
EXPENDITURES BY OBJECT
800 Other Objects $2,158,805 $2,157,775 $2,157,350 ($425)
TOTAL EXPENDITURES $2,158,805 $2,157,775 $2,157,350 ($425)
EXCESS (DEFICIENCY) OF REVENUES OVER (UNDER)EXPENDITURES $170,386 $132,598 ($69,617) ($99,831)
OTHER FINANCING SOURCES (USES) AND OTHER ITMES - - - -
NET CHANGE IN FUND BALANCE $170,386 $132,598 ($69,617) ($99,831)
FUND BALANCE - BEGINNING (From Prior Year) $387,046 $557,432 $690,030
Adjustment to Beginning Fund Balance (Add Explanation)
FUND BALANCE - ENDING $557,432 $690,030 $620,413
FY TENTATIVE BUDGET
SUMMARY - 32 CAPITAL PROJECTS FUND FY12 ACTUAL FY!# FINAL FY14 TENTATIVE BUDGET CHANGE
REVENUES BY SOURCE
1000 Total Local $4,196,552 $3,674,863 $3,674,863 $0
3000 Total State $42,988 $15,278 - ($15,278)
4000 Total Federal - - - -
TOTAL REVENUES $4,239,540 $3,690,1141 $3,674,863 ($15,278)
EXPENDITURES BY OBJECT
100 Salaries $273,867 $300,000 $300,000 -
200 Employee Benefits $146,583 $183,000 $178,380 ($4,620)
300 Purchased PRofessional and Technical Services $170,316 $75,000 $275,000 $200,000
400 Purchased Property Services $468,895 $800,000 $1,410,000 $610,000
500 Other Purchased Services $117,527 $110,000 $120,000 $10,000
600 Supplies - - - -
700 Property $1,192,480 $1,135,000 $1,157,000 $22,000
800 Other Objects $744,048 $734,209 $723,772 ($10,437)
TOTAL EXPENDITURES $3,113,716 $3,337,209 $4,164,152 $826,943
EXCESS (DEFICIENCY) OF REVENUES OVER (UNDER) EXPENDITURES $1,125,824 $352,932 ($489,289) ($842,221)
OTHER FINANCING SOURCES (USES) AND OTHER ITEMS ($1,120,000) - - -
NET CHANGE IN FUND BALANCE $5,824 $352,932 ($489,289) ($842,221)
FUND BALANCE - BEGINNING (From Prior Year) $1,904,787 $1,910,611 $2,263,543
Adjustment to Beginning Fund Balance (Add Explanation)
FUND BALANCE - ENDING $1,910,611 $2,263,543 $1,774,254
FY14 TENTATIVE BUDGET
SUMMARY - 49 FOOD SERVICE FUND FY12 ACTUAL FY13 FINAL FY14 TENTATIVE BUDGET CHANGE
REVENUES BY SOURCE
1000 Total Local $706,803 $660,000 $660,000 -
3000 Total State $395,036 $340,000 $340,000 -
4000 Total Federal $1,844,405 $2,050,500 $2,100,500 $50,000
TOTAL REVENUES $2,946,244 $3,050,500 $3,100,500 $50,000
EXPENSES/EXPENDITURES BY OBJECT
100 Salaries $960,311 $1,000,000 $1,000,000
200 Employee Benefits $295,597 $310,000 $308,767 ($1,233)
300 Purchased Professional and Technical Srevices $42,983 $80,000 $50,000 ($30,000)
400 Purchased Property Services $31,474 $35,000 $35,000 -
500 Other Purchased Services $2,885 $5,550 $4,440 -
600 Supplies $1,347,033 $1,540,000 $1,540,000 -
700 Property $231,940 $315,000 $75,000 ($240,000)
800 Other Objects $257,495 $216,000 $216,000 -
TOTAL EXPENSES/EXPENDITURES $3,169,718 $3,501,550 $3,230,317 ($271,233)
EXCESS (DEFICIENCY) OF REVENUES OVER (UNDER) EXPENSES/EXPENDITURES ($223,474) ($451,050) ($129,817) $321,233
OTHER FINANCING SOURCES (USES) AND OTHER ITMEMS - - - -
NET CHANGE IN NET ASSETS/FUND BALANCE ($223,474) ($451,050) ($129,817) $321,233
NET ASSETS/FUND BALANCE - BEGINNING(From Prior Year) $1,078,185 $854,711 $403,661
Adjusmtnet to Beginning New Assets/Fund Balance(Add Explanation)
NET ASSETS/FUND BALANCE - ENDING $854,711 $403,661 4273,844
FY14 TENTATIVE BUDGET
39 Logan SUMMARY - ALL FUNDS ACTUAL FY12 FINAL BUDGET FY 2013 TENTATIVE BUDGET FY 2014 BUDGET CHANGE
REVENUES BY SOURCE
1000 Total Local $18,789,964 $17,701,100 $17,489,960 ($215,140)
3000 Total State $23,714,262 $23,428,389 $23,550,027 $121,638
4000 Total Federal $6,988,911 $6,205,480 $6,079,842 ($215,140)
TOTAL REVENUES $49,493,137 $47,334,969 $47,119,829 ($215,140)
EXPENDITURES BY OBJECT
100 Salaries $22,507,789 $22,714,801 $22,967,728 $252,927
200 Employees Benefits $9,902,621 $10,996,867 $10,702,289 ($294,578)
300 Purchased Professional and Technical Services $1,837,042 $1,947,624 $2,117,624 $170,000
400 Purchased Property Srevices $986,622 $1,312,250 $1,922,250 $610,000
500 Other Purchased Services $,968,723 $1,833,341 $1,843,341 $10,000
600 Supplies $4,587,363 $4,802,770 $4,803,770 $1,000
700 Property $2,296,379 $1,947,987 $1,729,987 ($218,000)
800 Other Objects $3,332,022 $3,285,680 $3,274,818 ($10,862)
TOTAL EXPENDITURES $47,418,561 $48,841,320 $49,361,806 $520,486
EXCESS (DEFICIENCY) OF REVENUES OVER (UNDER) EXPENDITURES $2,074,576 ($1,506,351) ($2,241,977) ($735,626)
OTHER FINANCING SOURCES (USES) AND OTHER ITEMS $2,074,576 ($1,506,351) ($2,241,977) ($735,626)
NET CHANGE IN FUND BALANCE $2,074,576 ($1,506,351) ($2,241,977) ($735,626)
FUND BALANCE - BEGINNING (From Prior Year) $,8,133,059 $10,207,635 $8,701,284
Adjustments to Beginning Fund Balance - - - -
FUND BALANCE = ENDING $10,207,635 $8,701,284 $6,459,307