As part of our continuous communication with the community, the following information is an overview and analysis of the financial activity of the Gahanna-Jefferson Public School District for July-December 2013.
The district has received more than $38.9 million in revenues through Dec. 31, 2013. That is an increase of about $38,368 over the same time period from last school year.
Of the revenues through Dec. 31, approximately 61.5 percent is generated from real estate taxes, and 15.5 percent comes from state aid. The remaining 23 percent comes from local revenues, such as donations, school tuition and fees, investments and revenues in lieu of taxes.
Expenditures thus far have amounted to more than $41.7 million, which is an increase of $1.6 million over the same time period from last school year.
The expenditures represent 51.6 percent of the amount budgeted for the fiscal year. The majority of expenditures (76.3 percent) is for the purpose of paying salaries and benefits of more than 850 employees, and the remaining 23.7 percent is for all discretionary expenditures, such as purchased services, supplies and equipment.
Actual cash balance through Dec. 31, 2013, is slightly more than $6.2 million, which is a decrease of $1.2 million compared to the same time period last year.
Projecting through the end of fiscal year 2018, the current five-year forecast is showing to be solvent through the end of fiscal year 2016, but it shows negative unreserved ending cash balances in fiscal years 2017 and 2018 of more than $2.3 million and $7.1 million, respectively.
As we move toward the end of the 2013-14 school year, we will be monitoring all of the district's financial activity to make sure we end up at or below budget.
Any question regarding finances should be directed to Julio Valladares, Gahanna-Jefferson Public Schools treasurer, at 614-478-5534.