2018 Financial Report
Logan City School District Summary Budget FY16 (Final- June 16, 2014)
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 $11,465,308 29% $1,382,500 100% $2,153,000 100% $4,530,658 100% $564,000 20% $20,095,466 40%
State $24,560,103 62% - 0% - 0% - 0% $425,000 15% $24,985,103 49%
Federal $3,573,356 9% - 0% - 0% - 0% $1,847,937 65% $5,421,293 11%
Total Revenue $39,598,767 100% $1,382,500 100% $2,153,000 100% $4,530,658 100% $2,836,937 100% $50,501,862 100%
Expenditures
Salaries $22,687,110 57% - 0% - 0% $299,021 3% $923,777 31% $23,909,908 42%
Employee Benefits $10,431,928 26% - 0% - 0% $159,040 2% $328,275 11% $10,919,253 19%
Purchased Prof./Tech Services $1,942,837 5% $285,000 20% - 0% $1,800,000 18% $85,000 3% $4,112,837 7%
Purchased Property Services $388,950 1% 10,000 1% - 0% $5,430,000 55% $20,000 1% $5,848,950 10%
Other Purchased Services $1,657,596 4% $19,000 1% - 0% $150,000 2% $3,874 0% $1,830,470 3%
Supplies $2,332,274 6% $912,000 65% - 0% - 0% $1,450,000 48% $4,694,274 8%
Property/Equipment $331,968 1% $25,000 2% - 0% $1,408,000 14% $19,351 1% $1,784,319 3%
Miscellaneous $49,715 0% $155,700 11% $2,750,391 100% $675,778 7% $178,740 6% $3,810,324 7%
Total Expenditures $39,822,388 100% $1,406,700 100% $2,750,391 100% $9,921,839 100% $3,009,017 100% $56,910,335 100%
Revenues Over (Under) Expenditures ($223,621) ($24,200) ($597,391) ($5,391,181) ($172,080) ($6,408,473)
Other Financing Sources (Uses) ($50,000) $50,000 - $38,963,657 - $38,963,657
Budgeted Net Change In Fund Balance ($273,621) $25,800 $($597,391) $33,572,476 ($172,080) $32,555,184
Budget Beginning Fund Balance $7,219,667 $612,066 $1,103,760 $2,916,135 $783,156 $12,634,784
Budget Ending Fund Balance $6,946,046 $637,866 $506,3690 $36,488,611 $611,076 $45,189,968
Tentative Tax Rate Valuation $1,913,802,003 (Per Utah State Tax Commission)
Tentative Proposed Tax Levies Tax Levies Tax Levies Tax Levies Tax Levies Tax Levies
Basic School Levy 0.001419 0.001419
Voted Locan Levy 0.001500 0.001500
Board Local Levy 0.002482 0.002482
Capital Local Levy 0.002093 0.002093
GO Bond Payments Levy 0.001055 0.001055
Total 0.05401 N/A 0.001055 0.002093 N/A 0.008549
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.
2018 Financial Report
Logan City School District Summary Budget FY16 (tentative- June 15, 2015)
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 $12,231,669 29% $1,382,500 100% $3,851,641 100% $4,320,150 100% $593,000 20% $22,378,960 41%
State $25,411,133 61% - 0% - 0% - 0% $425,000 14% $25,836,133 48%
Federal $3,984,529 10% - 0% - 0% - 0% $1,920,500 65% $5,905,029 11%
Total Revenue $41,627,331 100% $1,382,500 100% $3,851,641 100% $4,320,150 100% $2,938,500 100% $54,120,122 100%
Expenditures
Salaries $23,422,751 56% - 0% - 0% $308,590 1% $962,576 31% $24,693,916 35%
Employee Benefits $11,733,481 28% - 0% - 0% $165,817 1% $342,063 11% $12,241,360 17%
Purchased Prof./Tech Services $1,690,968 4% $275,000 17% - 0% $2,000,000 10% $75,000 2% $4,040,968 6%
Purchased Property Services $396,729 1% 10,000 1% - 0% $16,185,200 78% $35,000 1% $16,626,929 24%
Other Purchased Services $1,640,848 4% $19,000 1% - 0% $105,000 1% $5,550 0% $1,770,398 3%
Supplies $2,361,668 6% $1,136,000 70% - 0% - 0% $1,440,000 47% $4,937,668 7%
Property/Equipment $283,876 1% $25,000 2% - 0% $1,436,160 7% $35,000 1% $1,780,036 3%
Miscellaneous $50,709 0% $155,700 10% $3,783,686 100% $474,500 7% $166,000 5% $4,630,595 7%
Total Expenditures $42,581,029 100% $1,620,7000 100% $3,783,686 100% $20,675,266 100% $3,061,188 100% $70,721,870 100%
Revenues Over (Under) Expenditures $46,302 ($238,200) ($67,955) ($16,355,116) ($122,688) ($16,601,748)
Other Financing Sources (Uses) ($50,000) $50,000 - $- - -
Budgeted Net Change In Fund Balance ($3,698) ($188,200) $67,955 ($16,355,116) ($122,688) ($16,601,748)
Budget Beginning Fund Balance $6,946,046 $637,866 $513,869 $36,488,611 $611,076 $45,197,468
Budget Ending Fund Balance $6,942,348 $449,666 $581,824 $20,133,495 $488,388 $28,595,720
Tentative Tax Rate Valuation $1,917,878,622 (Per Utah State Tax Commission)
Tentative Proposed Tax Levies Tax Levies Tax Levies Tax Levies Tax Levies Tax Levies
Basic School Levy 0.001764 0.001764
Voted Locan Levy 0.001537 0.001537
Board Local Levy 0.002548 0.002548
Capital Local Levy 0.002146 0.002146
GO Bond Payments Levy 0.001975 0.001975
Total 0.05849 N/A 0.001975 0.002146 N/A 0.009970
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.
2016 Financial Summary
FY16 TENTATIVE BUDGET
10 General Fund ACTUAL TENTATIVE BUDGET FY2015 FINAL LEAGAL BUDGET FY2015 BUDGET REVISIONS TENTATIVE BUDGET BUDGET CHANGE
SUMMARY - 10 MATINTENANCE & OPERATIONS FUND FY14 Actual FY15 Tentative FY 15 Final Budget Change FY16 Tentative Budget Change
REVENUES BY SOURCE
1000 Total Local $10,373,724 $11,395,690 $11,465,308 $69,618 $12,231,669 $766,361
3000 Total State $23,482,300 $24,608,230 $24,560,103 ($48,127) $25,411,133 $851,030
4000Total Federal $4,139,660 $3,979,342 $39,598,767 ($384,495) $41,627,331 $2,028,564
TOTAL REVENUES $37,995,684 $39,983,262 $39,598,767 ($384,495) $41,627,331 $2,028,564
EXPENDITURES BY OBJECT
100 Salaries $21,047,569 $22,798,426 $22,687,110 ($111,316) $23,422,751 $735,641
200 Employee Benefits $9,585,545 $10,155,041 $10,431,938 $276,897 $11,733,481 $1,301,543
300 Purchased Professional and Technical Services $1,569,277 $1,654,085 $1,942,837 $288,753 $1,690,968 ($251,869)
400 Purchased Property Servcies $438,920 $482,460 $388,950 $($93,510) $396,729 $7,779
500 Other Purchased Services $1,642,924 $1,719,507 $1,657,596 ($61,911) $1,640,848 ($16,748)
600 Supplies $2,369,920 $2,518,495 $2,332,274 ($186,221) $2,361,668 $29,394
700 Property $355,896 $372,300 $331,968 ($40,332) $283,876 ($48,092)
800 Other Objects $57,596 $97,428 $49,715 ($47,713) $50,709 $994
TOTAL EXPENDITURES $37,067,647 $39,797,741 $39,822,388 $24,647 $41,581,029 $1,758,641
EXCESS (DEFICIENCY) OF REVENUES OVER (UNDER) EXPENDITRUES $928,037 $187,521 ($223,621) ($409,142) $46,302 $269,923
OTHER FINANCING SOURCES (USES) AND OTHER ITEMS ($34,010) ($50,000) ($50,000) - ($50,000) -
NET CAHNGE IN FUND BALANCE $894,027 $135,521 ($273,621) ($409,142) ($3,698) $269,923
FUND BALANCE-BEGINNING (From Prior Year) $6,325,640 $7,219,667 $7,219,667 $6,946,046
Adjustments to Beginning Fund Balance (Attach Detail)
FUND BALANCE - ENDING $7,219,667 $7,355,188 $6,946,046 $6,942,348
FY16 TENTATIVE BUDGET
SUMMARY - 21 Student Activity Fund FY14 ACTUAL FY15 TENTATIVE BUDGET FY15 FINAL BUDGET CHANGE FY16 TENTATIVE BUDGET CHANGE
REVENUES BY SOURCE
1000 Total Source $1,039,243 $1,082,500 $1,382,500 $300,00 $1,382,500
3000 Total State $650 - - - - -
4000 Total Federal - - - - - -
TOTAL REVENUES $1,039,893 $1,082,500 $1,382,500 $300,00 $1,382,500 -
EXPENDITURES BY OBJECT
100 Salaries - - - - - -
200 Employee Benefits - - - - - -
300 Purchased Professional and Technical Services $53,326 $150,000 $285,000 $135,000 $275,000 ($10,000)
400 Purchased Property Services $82 $4,500 $10,000 $5,500 $10,000 -
500 Other Purchased Services $104,579 $49,000 $19,000 ($30,000) $19,000 -
600 Supplies $799,078 $912,000 $912,000 $229,000 $1,136,000 ($5,000)
700 Property - $25,000 $25,000 - $25,000 -
800 Other Objects $122,713 $115,700 $155,700 $40,000 $155,700 -
TOTAL EXPENDITRUES $1,082,778 $1,256,200 $1,406,700 $379,500 $1,620,700 ($15,000)
EXCESS (DEFICIENCY) OF REVENUES OVER (UNDER) EXPENDITURES ($42,885) ($173,700) ($24,200) ($79,500) ($238,300) $15,000
OTHER FINANCING SOURCES (USES) AND OTHER ITEMS $34,010 $50,000 $50,000 - $50,000 -
NET CHANGE IN FUND BALANCE ($8,875) ($50,000) ($50,000) - $50,000 -
FUND BALANCE - BEGINNING (From Prior Year) $620,941 $459,813 $612,066 $637,866
Adjustment to Beginning Fund Balance (Add Explanation)
FUND BALANCE-ENDING $612,066 $336,113 $637,866 $449,666
FY16 TENTATIVE BUDGET
SUMMARY - 31 DEBT SERVICE FUND FY14 ACTUAL FY15 TENTATIVE BUDGET FY15 FINAL BUDGET CHANGE FY16 TENTATIVE BUDGET CHANGE
REVENUES BY SOURCE
1000 Total Source $2,361,633 $2,087,733 $2,160,500 $72,767 $3,859,141 $1,698,641
3000 Total State - - - - - -
TOTAL REVENUES $2,361,633 $2,087,733 $2,160,500 $72,767 $3,859,141 $1,698,641
EXPENDITURES BY OBJECT
800 Other Objects $2,034,303 $2,157,350 $2,750,391 $593,041 $3,783,686 $1,035,795
TOTAL EXPENDITRUES $2,034,303 $2,157,350 $2,750,391 $593,041 $3,783,686 $1,035,795
EXCESS (DEFICIENCY) OF REVENUES OVER (UNDER) EXPENDITURES $327,330 ($69,617) ($589,891) ($520,274) $75,455 $662,856
OTHER FINANCING SOURCES (USES) AND OTHER ITEMS - - - - - -
NET CHANGE IN FUND BALANCE $327,330 ($69,617) ($589,891) ($520,274) $75,455 $662,856
FUND BALANCE - BEGINNING (From Prior Year) $776,430 $1,103,760 $1,103,760 $513,8696
Adjustment to Beginning Fund Balance (Add Explanation)
FUND BALANCE-ENDING $1,103,760 $1,034,143 $513,869 $589,324
FY16 TENTATIVE BUDGET
SUMMARY - 32 CAPITAL PROJECTS FUND FY14 ACTUAL FY15 TENTATIVE BUDGET FY15 FINAL BUDGET CHANGE FY16 TENTATIVE BUDGET CHANGE
REVENUES BY SOURCE
1000 Total Source $4,300,014 $4,204,927 $4,530,658 $325,731 $4,320,150 ($210,508)
3000 Total State - - - - - -
4000 Total Federal - - - - - -
TOTAL REVENUES $4,300,014 $4,204,927 $4,530,658 $325,731 $4,320,150 ($210,508)
EXPENDITURES BY OBJECT
100 Salaries $274,766 $300,000 $299,021 ($979) $308,590 $9,569
200 Employee Benefits $146,673 $178,380 $159,040 ($19,340) $165,817 $6,777
300 Purchased Professional and Technical Services $658,989 $750,000 $1,800,000 $1,050,000 $2,000,000 $200,00
400 Purchased Property Services $1,297,478 $5,750,000 $5,430,000 ($320,000) $16,185,200 $10,755,200
500 Other Purchased Services $104,147 $105,000 $150,000 $45,000 $105,000 ($45,000)
600 Supplies - - - - - -
700 Property $1,487,516 $1,575,000 $1,408,000 ($117,000) $1,436,160 $28,160
800 Other Objects $678,546 $672,791 $675,778 $2,987 $474,500 ($201,278)
TOTAL EXPENDITRUES $4,648,115 $9,331,171 $9,921,839 $640,668 $20,675,266 $10,753,427
EXCESS (DEFICIENCY) OF REVENUES OVER (UNDER) EXPENDITURES ($348,101) ($5,126,244) ($5,291,181) ($314,937) ($16,355,116) ($10,963,935)
OTHER FINANCING SOURCES (USES) AND OTHER ITEMS $91,000 $15,000,000 $38,963,657 - - ($38,963,657)
NET CHANGE IN FUND BALANCE ($257,101) $9,873,756 $33,572,476 ($16,355,116) ($49,927,592)
FUND BALANCE - BEGINNING (From Prior Year) $3,173,236 $2,916,135 $2,916,135 $36,488,611
Adjustment to Beginning Fund Balance (Add Explanation)
FUND BALANCE-ENDING $2,916,135 $12,789,891 $36,488,611 $20,133,495
FY16 TENTATIVE BUDGET
SUMMARY - 49 FOOD SERVICE FUND FY14 ACTUAL FY15 TENTATIVE BUDGET FY15 FINAL BUDGET CHANGE FY16 TENTATIVE BUDGET CHANGE
REVENUES BY SOURCE
1000 Total Source $597,144 $593,000 $564,000 ($29,000) $593,000 $29,000
3000 Total State $431,450 $250,000 $425,000 $175,000 $425,000 -
4000 Total Federal $1,993,586 $2,058,500 $1,847,937 ($20,563) $1,920,500 $72,563
TOTAL REVENUES $3,022,180 $2,901,500 $2,836,937 $125,437 $2,938,500 $101,563
EXPENDITURES BY OBJECT
100 Salaries $888,335 $1,025,600 $923,777 ($101,823) $962,576 $38,799
200 Employee Benefits $364,932 $384,958 $328,275 ($56,683) $342,063 $13,788
300 Purchased Professional and Technical Services $62,537 $70,000 $85,000 $15,000 $75,000 ($10,000)
400 Purchased Property Services $19,484 $35,000 $20,000 ($15,0000) $35,000 $15,000
500 Other Purchased Services $3,923 $5,550 $3,874 ($1,676) $5,550 $1,676
600 Supplies $1,407,273 $1,440,000 $1,450,000 $10,000 $1,440,000 ($10,000)
700 Property $54,031 $50,000 $19,351 ($30,649) $35,000 $15,649
800 Other Objects $107,683 $216,000 $178,740 ($3,260) $166,000 ($12,740)
TOTAL EXPENDITRUES $2,908,198 $3,227,108 $3,009,017 ($184,091) $3,061,188 $52,171
EXCESS (DEFICIENCY) OF REVENUES OVER (UNDER) EXPENDITURES $113,982 ($325,608) ($172,080) ($122,688)
OTHER FINANCING SOURCES (USES) AND OTHER ITEMS - - - - - -
NET CHANGE IN FUND BALANCE $113,982 ($325,608) ($172,080) ($122,688)
NET ASSETS/FUND BALANCE - BEGINNING (From Prior Year) $669,174 $461,661 $783,156 $611,076
Adjustment to Beginning Fund Balance (Add Explanation)
NET ASSETS/FUND BALANCE-ENDING $783,156 $136,053 $611,076 $488,388
FY16 TENTATIVE BUDGET
39 LOGAN SUMMARY - ALL FUNDS FY14 ACTUAL FY15 TENTATIVE BUDGET FY15 FINAL BUDGET CHANGE FY16 TENTATIVE BUDGET CHANGE
REVENUES BY SOURCE
1000 Total Source $18,671,758 $19,363,850 $20,102,966 $739,116 $22,386,460 $21,647,344
3000 Total State $23,914,4000 $24,858,230 $24,985,103 $126,873 $25,836,133 $25,709,260
4000 Total Federal $6,133,246 $6,037,842 $5,421,293 ($616,549) $5,905,029 $6,521,578
TOTAL REVENUES $48,719,404 $50,259,922 $50,509,362 $249,440 $54,127,622 $53,878,182
EXPENDITURES BY OBJECT
100 Salaries $22,210,670 $24,124,026 $23,909,908 ($214,118) $24,693,916 $24,908,034
200 Employee Benefits $10,097,150 $10,718,379 $10,919,253 $200,874 $12,241,360 $12,040,486
300 Purchased Professional and Technical Services $2,347,129 $2,624,085 $4,112,837 $2,488,753 $4,040,968 $2,552,215
400 Purchased Property Services $1,755,964 $6,271,9060 $5,848,950 ($423,101) $16,626,929 $17,049,939
500 Other Purchased Services $1,855,573 $1,879,057 $1,830,470 ($48,587) $1,770,3980 $1,818,985
600 Supplies $4,576,271 $4,870,495 $4,694,274 ($176,221) $4,937,668 $5,113,889
700 Property $1,897,443 $2,022,300 $1,784,319 ($237,981) $1,780,036 $2,018,017
800 Other Objects $3,000,841 $3,259,269 $3,810,324 $551,055 $4,630,595 $4,079,540
TOTAL EXPENDITRUES $47,741,041 $55,769,570 $56,910,335 $1,140,765 $70,721,870 $69,581,105
EXCESS (DEFICIENCY) OF REVENUES OVER (UNDER) EXPENDITURES $978,363 ($5,509,648) ($6,400,973) ($891,325) ($16,594,248) (15,702,923)
OTHER FINANCING SOURCES (USES) AND OTHER ITEMS $1,077,979 $15,000,000 $38,963,657 - - -
NET CHANGE IN FUND BALANCE ($99,616) $9,490,352 $32,562,684 ($891,325) ($16,594,248) ($15,702,923)
FUND BALANCE - BEGINNING (From Prior Year) $12,734,401 $12,161,036 $12,634,785 $45,197,469
Adjustment to Beginning Fund Balance (Add Explanation) - - - - -
FUND BALANCE-ENDING $12,634,785 $21,651,388 $45,197,469 $28,603,221