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ACS Board Meeting - January 11, 2022 (Finance Meeting)

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so congratulations mr. barranco and this is failure once again to your your exciting positions as officers of the board of Finance moving on we have a couple presentations tonight one is the presentation that we normally have and then one is a it is a new presentation that the distressed unit appeal tax board has commanded that we have these were these documents were sent to you in your pocket so you have them Are banks we consolidate at Old National Bank Oliver Corporation transactions including accounts payable and payroll go through Old National Bank so we have no other business our investments for 2 21 due to the very low level of Interest offered on formal Investments none were made in 2021 will you sweep accounts or swept into Investments nightly and then return during the day we do you sweep against the maximize our earnings and we do use a money market account for the remainder of available cash are interest earned this year was 63 thousand $630.52 last year was just over 400 in the year before that was just over a million the reason we are declining one is because in the past we've had some construction funds that we've invested all that we had available to do that with since our construction project essentially complete that cash is no longer available which to invest plus the declining interest rates have caused our our our our needs to be low but we did earn a respectable 63 660-3630 dollars on interest any questions on that that's a fairly standard report on that before I move on to the Dress distressed unit appeals board report questions at this time here now that is have referred to that is a state takeover agency before schools that are in a depressed distressed financially have to go before that we have received assurances from that's what that stands for doing that we are not it at Financial Risk of this year so we don't have to worry about having them visit for another year however there are some statistics. we have to talk about statutorily that I will briefly go over our average or call student count for the 2021 school year was 6359 our net asset value is 1.6 billion dollars 11 billion 677832248 dollars and the estimated population in our in our taxing district to 69009 86 people those aren't students those are just families in our taxing you know Brown told you in our budget meetings are assessed value goes up or tax rate goes down so value has has has Edge. There's a series of graphs that were sent to you in your packet they they are are are formality they aren't the greatest graphs but they're the grass that were provided to us by the doo wop and and we were commanded to use that particular format our first grabs our average daily membership and that it basically you know correlates to the 6359 students that we had our next graphs are fun balances the interesting thing here is as you see our cash balance has declined one of the things to do ab look sad is if you have a decline in cash ours did not decline sufficiently enough to Merit scrutiny but our cash balances are declining as as our expenses have gone up next chart shows our revenue and expenses you'll see this year for the first year our expenditures outstrip our Revenue I can't give you an exact amount by this chart but 44 for a while of our covid savings sort of helped us in and you'll see that in the next graph we had a reduction expenses due to covid at starting to catch back up with us or fund balance as a percent of expenditures you'll see that pick up that is our on that's our cash balance that is kind of take down a bit this year and end and will continue to take down we generally have have kept it in the 15% of our of our total expenditures and and that is kind of lesson. As we had covid surpluses that's going to start taking back up Revenue by type that's a self-explanatory graph it's it's crafted and this Abyss will be on our website for people that want to see this as well but it's just an aggregation of where we receive our funds from stimulus Revenue funds federal revenue state revenue local Revenue service operating revenue and local tax revenue our final graph is our operating Revenue as a percent of total revenue up through 2018 we didn't have any operating referendum for 2019 and 2020 it succeeded just over 2% of our total revenues coming from our operating our operating referendum Revenue so long numbers that are lot of grass there are a lot of this mr. Brown covers in his annual budget report in August but these are figures that the state has told us that we must present to you we will have those this report in those graphics on our way search for public review after this meeting there any questions I can answer I'm not sure mr. Brown is connected but if he's not we can have him get you those answers if you just went backpacking the tomatoes are having somebody who being the man for any questions for Doctor crock Hernan I think you. Crank any other items that's up alright take a motion for German on the finance committee think everybody have a safe trip home for those who are here for the hearing Happy People board we will reconvene in about 5 minutes I got 56 every everybody else is not part Carrie needs to move out to the lobby

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ACS Board Meeting - January 11, 2022 (Finance Meeting)

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