.

A Breakdown of the 2010-11 Board of Education Revolving Account

The majority of the account is being closed out and transferred to different funds.

As of June 30, there was a balance of $921,722.18 in the 2010-11 school board revolving account. The account consisted of grants and revenue from certain accounts that rolled over year-to-year.

When Blum Shapiro auditors reviewed the town of Avon's 2009-10 budget last year, they recommended breaking up the revolving account into more specific funds relevant to the source and purpose of the revenue it contained. While Blum Shapiro did not suggest it was a major problem, school administrators have been working with the town financial office to establish better ways to account for that revenue. The revolving account is being liquidated and the money is being tranferred into specific funds.

The following breakdown of the revolving account is based on a financial report that Gary Franzi, school district business manager, presented to the Board of Finance on Monday and the Board of Education on Tuesday. In total there was $1,518,135.03 in revenue in the 2010-2011 revolving account, and subtracting $596,412.85 in year-to-date expenditures brought the balance to $921,722.18.

These are the numbers as of June 30, 2011 and are subject to change until last year's budget is entirely closed.

Balance to Town

Money that school employees contributed from their paychecks to employee benefits, life insurance and dental insurance previously went in the revolving account. That money is being transferred to the town, so that it can be in the same place as the town employees' benefits contributions.

Description

Revenue Year to Date Expenditures (2011) Encumbered Total Balance (Leftovers) Employee Benefit/Life Insurance $47,194.11 $1,822.04 $0 $1,822.04 $45,372.07 Dental Insurance $192,064.86 $94,211.33 $0 $94,211.33 $97,853.53 Total $239,258.97 $96,033.37 $0 $96,033.37 $143,225.60

Close Out

The following accounts within the revolving account are being closed out.

Description Revenue

Year to Date Expenditures (2011)

Encumbered Total Balance

 

Supplies/Phinney/Greek -$18.13 $0 $0 $0 -$18.13) Textbooks/Replacements $317.30 $72.50 $0 $72.50 $244.80 Library Books $413.68 $0 $0 $0 $413.68 Teaching Supplies/General $249.73 $0 $0 $0 $249.73 Computer Software/Instruction $4,596.25 $0 $0 $0 $4,596.25 Postage $520.01 $400 $0 $400 $120.01 Gas/Oil/Service $500 $47.83 $0 $47.83 $452.17 Building Maintenance $1,321.75 $0 $0 $0 $1,321.75 Property Insurance $3,293.47 $0 $0 $0 $3,293.47 Instrumental Rental
$215 $0 $0 $0 $215 La Rana Viajera $465.27 $0 $0 $0 $465.27 Music Program $134.85 $0 $0 $0 $134.85 Parent Literacy Outreach -784.93 $0 $0 $0 -$784.93 School to Career $2,598.27 $0 $0 $0 $2,598.27 Research in Real Time $140.09 $0 $0 $0 $140.09 Total $13,962.61 $520.33 $13,422.28

Facility Use Fund

Reimbursements from Connecticut Light and Power will be transferred from the revolving account into a Facility Use Fund.

Description Revenue Year to Date
Expenditures (2011) Encumbered Total Balance Various Miscellaneous (CL&P Rebate) $21,684.46 $1,574.08 $0 $1,574.08 $20,110.38

General Fund

The following accounts that were in the 2010-11 revolving account will be transferred into the town of Avon's General Fund.

Description Revenue Year to Date
Expenditures (2011) Encumbered Total Balance Salary/Security (Parking Fees, Avon High School) $33,794 $0 $0 $0 $33,794 Telephone/Telecom (E-Rate) $81,334.74 $0 $0 $0 $81,334.74 Tuition/Special Education (Reimbursement for Special Education Services) $551,196.18 $0 $0 $0 $551,196.18 Total $666,324.92 $666,324.92

General Fund for 11-12

The workmens compensation account will be transferred to the General Fund for the 2011-12 fiscal year. 

Description Revenue Year to Date
Expenditures (2011) Encumbered Total Balance Workmens Compensation $21,377.79 $20,753.53 $0 $20,753.53 $624.26

Internal Service Fund

There was no revenue in the medical claims account within the 2010-11 revolving account, but in the future, money that would have been placed in this account will go in the Internal Service Fund. 


Private Grants/Donations

Any revenue from school-related private grants and donations will be transferred from the revolving account to a new Avon Education Foundation account. 

Description Revenue Year to Date
Expenditures (2011) Encumbered Total Balance Avon Education Foundation $5,349.14 $1,940.54 $0 $1,940.54 $3,408.60

Revolving Account

There will still be a revolving account, but not as large. The only revenue that will be included in it are from the following accounts: annuity-TSA clearing, refunds/reimbursements, Avon High School reimbursed expenses, Avon Middle School reimbursed expenses, Roaring Brook School reimbursed expenses, Thompson Brook School reimbursed expenses and chaperones and police services. After the year-to-date expenditures for 2010-2011 are subtracted from the account revenues, the accounts reflect a total $11,773.63 shortfall at the moment.

Description Revenue Year to Date
Expenditures (2011) Encumbered Total Balance Anninuity-TSA Clearing $3,075 $3,175 $0 $3,175 -$100 Refunds/Reimbursements $10,691.23 $8,756.71 $0 $8,756.71 $1,934.52 Reimbursed Expenses-Avon High School $19,248.76 $31,420.25 $0 $31,420.25 -$12,171.49 Reimbursed Expenses-Avon Middle School
$1,634.86 $3,424.41 $0 $3,424.41 -$1,789 Reimbursed Expenses-Roaring Brook School
$4,789.23 $5,049.45 $0 $5,049.45 -$260.22 Reimbursed Expenses-Thompson Brook School
$1,700 $1,187.50 $0 $1,187.50 $512.50 Chaperones/Police Services
$2,716.47 $2,615.86 $0 $2,615.86 $100.61 Total $43,855.55 $55,629.18 $55,629.18 -$11,773.63

Special Revenue Fund

A new Special Revenue Fund has been created for certain accounts that were in the revolving account previously, including the following accounts: pre-school, Summer Enrichment Program, Musica Dulce, Services for the Blind, Unified Sports, team mentor stipends, salaries-VAA and Dell lease for installation of equipment or hardware

Description Revenue Year to Date
Expenditures (2011) Encumbered Total Balance Pre-School $32,538.58 $3,305.76 $0 $3,305.76 $29,232.82 Summer Enrichment Program $88,078.77 $53,509.54 $0 $53,509.54 $34,569.23 Musica Dulce $15,732.99 $15,081.15 $0 $15,081.15 $651.84 Services for the Blind $2,796.72 $2,264.73 $0 $2,264.73 $531.99 Unified Sports $3,400 $2,083.20 $0 $2,083.20 $1,316 Team Mentor Stipends $8,000 $8,000 $0 $8,000 $0 Salaries-VAA $28,800 $28,800 $0 $28,800 $0 Installation of Equipment/Hardware (Dell Lease) $99,572.76 $99,572.76 $0 $99,572.76 $0 Total $278,919.82 $212,617.14 $0 $212,617.14 $66,302.68

Pay to Play, Special Revenue Fund

Pay to Play revenue will now be placed in its own special revenue fund, and any remaining funds from Pay to Play that was in the 2010-11 account will be transferred to that fund.

Description Revenue Year to Date
Expenditures (2011) Encumbered Total Balance Salaries $0 $12,463.50 $0 $12,463.50 -$12,463.50 Athletic Supplies and Equipment $185,394.21 $23,521.75 $0 $23,521.75 $161,872.46 Concussion Initiatives $1,700 $0 $0 $0 $1,700 Athletic Training Supplies $0 $100 $0 $100 -$100 Athletic Trans $2,658 $101,838.55 $0 $101,838.55 -$99,180.55 Athletics Off Fees $0 $933.73 $0 $933.73 -$933.73 Aux Athlete Fees $64.74 $11,266.91 $0 $11,266.91 -$11,202.17 Police Services $0 $1,701 $0 $1,701 -$1,701 Sports/Gate Receipts $36,927.81 $5,118.40 $5,118.40 $31,809.41 Athletics/Miscellaneous $0 $18,450 $0 $18,450 -$18,450 Athletic Awards $0 $2,271.36 $0 $2,271.36 -$2,271 Athletic Tournament Fees $0 $1,030 $0 $1,030 -$1,030 Rentals $0 $28,031.25 $0 $28,031.25 -$28,031.25 Falconatics $657.01 $618.23 $0 $618.23 $38.78 Total $227,401.77 $207,344.68 $0 $207,344.68 $20,057.09

 


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