|
|
|
Holy Family School Financial Report |
|
Holy
Family School |
| 2007/08 Budget |
||
| Operating Income: | ||
| Tuition | 1,035,766 | |
| Other School Income | 170,600 | |
| Total Income | $ 1,206,366 | |
| Operating Expense: | ||
| Payroll | 1,126,699 | |
| Fringe Benefits | 252,492 | |
| Administration | 138,450 | |
| Building Operations | 108,850 | |
| Total Expense | $ 1,626,491 | |
| Net Operating Loss | -25.83% | $ (420,125) |
| Parish Subsidies: | ||
| St. Ann | 52.94% | 222,414 |
| St. Mary | 12.79% | 53,734 |
| Sacred Heart | 14.51% | 60,960 |
| Holy Trinity | 7.39% | 31,047 |
| St. Joseph | 12.37% | 51,969 |
| Total subsidy | 25.83% | $ 420,125 |
|
Holy Family
School
|
| Enrollment | 2006/07 Tuition Rates |
2007/08 Enrollment |
Increase 10% Tuition Rates |
Income | |
| Grades 1 - 8: | |||||
| 1 Child Catholic | 117 | $ 2,604 | 124 | $ 2,864 | 355,186 |
| 2 Children Catholic | 156 | $ 4,781 | 140 | $ 5,259 | 368,137 |
| 3 or more Children Catholic | 69 | $ 6,329 | 66 | $ 6,962 | 153,162 |
| 1 Child Non-Catholic | 1 | $ 4,538 | 1 | $ 4,992 | 4,992 |
| 2 Child Non-Catholic | 0 | $ 9,076 | 0 | $ 9,984 | - |
| 3 Child Non-Catholic | 0 | $ 14,703 | 0 | $ 14,975 | - |
| 4 Child Non-Catholic | 0 | $ 13,614 | 0 | $ 13,614 | - |
| Discounts: | |||||
| Staff (25%) | 10 | $ - | 10 | $ 6,210 | 6,210 |
| Gifts in Kind | - | ||||
| Grandfathered | 0 | 0 | - | ||
| Total Grades 1 - 8 | 353 | 341 | $ 887,686 | ||
| Pre-Kindergarten 3years | 13 | $ 2,145 | 13 | $ 2,360 | 30,674 |
| Pre-Kindergarten 4years | 20 | $ 2,246 | 16 | $ 2,471 | 39,530 |
| Full Day Kindergarten | 19 | $ 3,615 | 17 | $ 3,977 | 67,601 |
| Half Day Kindergarten | 19 | $ 2,404 | 16 | $ 2,644 | 42,310 |
| Total Enrollment | 424 | 403 | $ 1,067,800 | ||
| Estimated Attrition | 3% | (32,034) | |||
| Net Collectible Tuition | $ 1,035,766 | ||||
| Analysis of Tuition by Grade Level | ||||
| Grade | 2004/05 | 2005/06 | 2006/07 | |
| Pre Kindergarten 3 Years | 20 | 13 | 13 | |
| Pre Kindergarten 4 Years | 39 | 29 | 20 | |
| Full Day Kindergarten | 25 | 25 | 19 | |
| Half Day Kindergarten | 24 | 27 | 19 | |
| 1st Grade Elementary | 52 | 51 | 51 | 3 Classes |
| 2nd Grade Elementary | 53 | 49 | 46 | 2 Classes |
| 3rd Grade Elementary | 45 | 51 | 44 | 2 Classes |
| 4th Grade Elementary | 53 | 40 | 46 | 2 Classes |
| 5th Grade Elementary | 49 | 50 | 40 | 2 Classes |
| 6th Grade Elementary | 40 | 46 | 42 | 2 Classes |
| 7th Grade Elementary | 33 | 36 | 40 | 2 Classes |
| 8th Grade Elementary | 26 | 32 | 36 | 2 Classes |
| Total Enrollment | 459 | 449 | 416 | |
|
Holy Family
School
|
| 2007/08 Budget |
||
| Other School Income: | ||
| Diocesan Lunch Reimbursement (Gross) | 41,000 | |
| Cares Fees | 33,000 | |
| Interest | 500 | |
| Registration Fees ($100 per family) | 26,000 | |
| Stationery Fees | 7,600 | |
| Miscellaneous Income (Field Trips, gym shirts) | 48,000 | |
| Donations | 8,000 | |
| Supermarket rebates | 6,500 | |
| Total | $ 170,600 | |
| Fringe Benefits: | ||
| FICA Tax | 86,192 | |
| Unemployment Tax | 1,500 | |
| Health Insurance (145,000 - 15,000) | 130,000 | |
| Disability Insurance | 6,000 | |
| Worker Compensation Insurance | 6,800 | |
| Pension | 22,000 | |
| Total | $ 252,492 | |
| Administration: | ||
| Professional Contracted Services | 11,000 | |
| Instruction Materials & Supplies | 17,500 | |
| Student Lunches | 28,000 | |
| Student Activities | 42,000 | |
| Miscellaneous | 5,000 | |
| Office | 12,500 | |
| Telephone | 6,300 | |
| Dues & Subscriptions | 1,800 | |
| Staff Development | 2,750 | |
| Clearances | 600 | |
| Prop. Liab. & Ins. | 11,000 | |
| Total | $ 138,450 | |
| Facilities Expenses: | ||
| Cleaning Supplies & Outside Services ($4400 + $2450) | 6,850 | |
| Repairs & Maintenance | 25,000 | |
| Electric | 26,000 | |
| Heating Oil | 23,000 | |
| Water | 18,000 | |
| Computer Maintenance | 10,000 | |
| Deferred Maintenance | ||
| Total | $ 108,850 | |
|
Holy Family
School
|
| Tuition Based on enrollment of | 403 |
| Attrition Budgeted | $ 32,034 |
| Tuition Increased by | 10% |
| Subsidy Budget | $ 420,125 |
| There is a $50 insurance co-pay per paycheck | |
| Deferred Maintenance | $ - |
| Salaries - Increased pay scale | 3.00% |
| Tuition Benefits -
Contracted employees receive reduced tuition rate based upon percentage of employment with a 25% tuition co-pay. |
|
| Updated January 4, 2007 |
|
Holy
Family School |
|
Restricted Funds (Exhibit B-2) |
|||||||
|
Unrestricted |
School Expansion | Computer | Miscellaneous | RIF | Scholarship | Total | |
| Cash & Investments | |||||||
| Wachovia Checking | |||||||
| Principal's Checking | 605 | 605 | |||||
| Vanguard Money Market | 18,962 | 18,962 | |||||
| Total Cash & Investments | $ 19,567 | $ 19,567 | |||||
| Receivables & Other Assets | |||||||
| Tuition Receivable/(Deferred) | 394,587 | 394,587 | |||||
| Debt Inter-Fund Transfers | 12,574 | (97) | (11,853) | (147) | (477) | ||
| Other Assets | |||||||
| Total Assets | $ 426,728 | $ (97) | $ (11,853) | $ (147) | $ (477) | $ 414,154 | |
| Liabilities | |||||||
| Payroll taxes & Deductions | (3,791) | (3,791) | |||||
| Registration Fees | |||||||
| Total Liabilities | $ (3,791) | $ (3,791) | |||||
| Fund Balance | |||||||
| Balance 6/30/06 | (9,820) | 2,185 | (7,635) | ||||
| Net Gain (Loss) for this Year | 440,339 | (97) | (11,853) | (147) | (2,662) | 425,580 | |
| Fund Balance 9/30/06 | $ 430,519 | $ (97) | $ (11,853) | $ (147) | $ (477) | $ 417,945 | |
| Total Liabilities & Fund Balance | $ 426,728 | $ (97) | $ (11,853) | $ (147) | $ (477) | $ 414,154 | |
| Holy Family School 2006/07 Financial Reports Summary 6 Months Ended December 30, 2006 Unrestricted School Income & Expense Summary |
|
Difference |
||||||
|
Budget |
2006-07 12/31/2006 |
2005-06 12/31/2005 |
Amount |
Percent |
||
| Income: | ||||||
| Tuition Income Billed | Exhibit B-3 | 1,103,173 | 991,081 | 993,375 | (2,294) | 0% |
| Parish Subsidies | Exhibit B-3 | 116,352 | 116,352 | 101,760 | 14,592 | 14% |
| Fees & Other Program Income | Exhibit B-3 | 59,825 | 62,413 | 67,914 | (7,637) | -11% |
| Other Non-Program Income | Exhibit B-3 | 6,400 | 3,132 | 8,198 | (5,066) | -62% |
| Total Income | $ 1,285,750 | $ 1,172,978 | $ 1,171,247 | $ (405) | 0% | |
| Expense: | ||||||
| Payroll | Exhibit B-4 | 513,401 | 517,252 | 503,204 | 14,048 | 3% |
| Fringe Benefits | Exhibit B-4 | 126,400 | 141,919 | 112,832 | 29,087 | 26% |
| Administration | Exhibit B-4 | 66,801 | 38,682 | 57,003 | (18,321) | -32% |
| Maintenance, Repairs & Utilities | Exhibit B-4 | 51,925 | 31,607 | 42,705 | (11,098) | -26% |
| Major Improvements & Additions | Exhibit B-4 | 2,595 | 3,179 | 4,111 | (932) | -23% |
| Total Expense | $ 761,122 | $ 732,639 | $ 719,855 | $ 12,784 | 2% | |
| Net Gain (Loss) Unrestricted Funds | $ 524,628 | $ 440,339 | $ 451,392 | (11,053) | -2% | |
| Exhibit B-1 | ||||||
|
Holy
Family School
|
| Restricted Computer Fund | ||
| Income: | ||
| Computer Income | $ 90 | |
| Expense | $ 11,943 | |
| Net Balance | $ (11,853) | |
| Restricted Reading is Fundamental (RIF) Fund | ||
| Donations & Gift Income | 350 | |
| RIF Purchases & Expense | 3,012 | |
| Net Balance | $ (2,662) | |
| Restricted Scholarship Fund | ||
| Donations & Gift Income | 5,400 | |
| Interest Income | - | |
| Student Assistance | (5,400) | |
| Net Balance | $ - | |
| Restricted School Expansion | ||
| Income | - | |
| Loan Payments | - | |
| Expenses | $ 97 | |
| Net Balance | $ (97) | |
| Miscellaneous Restricted Funds | ||
| Library Income | 200 | |
| Miscellaneous Restricted Expenses-Library | 347 | |
| Net Balance | $ (147) | |
| Exhibit B-2 | ||
|
Holy Family School
|
|
Difference |
|||||
| Tuition |
Budget |
2006-07 12/31/2006 |
2005-06 12/31/2005 |
Amount | Percent |
| Grades 1-8 Catholic | 935,300 | 868,114 | 836,438 | 31,676 | 4% |
| Grades 1-8 Non Catholic | 4,538 | - | 4,202 | (4,202) | -100% |
| Discount - Parish Families | (50,854) | (62,314) | (49,825) | (12,489) | 25% |
| Discount - Non Parish Families | - | - | - | - | 0% |
| Total Grades 1-8 Billed | $ 888,984 | $ 805,800 | $ 790,815 | $ 14,985 | 2% |
| Kindergarten Tuition | 155,279 | 127,574 | 148,229 | (20,655) | -14% |
| Pre-School Tuition | 93,029 | 74,313 | 82,166 | (7,853) | -10% |
| Estimated Attrition | (34,119) | (16,606) | $ (27,089) | 10,483 | -39% |
| GCP Discount | - | - | (746) | 746 | -100% |
| Net Tuition Income | $ 1,103,173 | $ 991,081 | $ 993,375 | $ (2,294) | 0% |
| Parish Subsidy: | |||||
| St. Ann | 45,000 | 45,000 | 38,225 | 6,775 | 18% |
| Holy Trinity | 12,638 | 12,638 | 11,154 | 1,484 | 13% |
| St. Mary | 17,090 | 17,090 | 10,000 | 7,090 | 71% |
| Sacred Heart | 26,748 | 26,748 | 21,928 | 4,820 | 22% |
| St. Joseph | 14,876 | 14,876 | 20,453 | (5,577) | -27% |
| Total Parish Subsidy | $ 116,352 | $ 116,352 | $ 101,760 | $ 14,592 | 14% |
| Fees & Other Program Income | |||||
| After School Care | 16,200 | 12,396 | 15,383 | (2,987) | -19% |
| Registration Fees | 23,000 | 24,400 | 26,000 | (1,600) | -6% |
| Student Stationery Fee | 7,600 | 9,578 | 7,442 | - | 0% |
| Cafeteria Subsidy (NDS Income) | 3,525 | 4,774 | 6,431 | (1,657) | -26% |
| NDS Food Service Expense | (10,500) | (11,081) | (21,567) | 10,486 | -49% |
| Cafeteria Sales & Misc. Fees | 20,000 | 22,346 | 34,225 | (11,879) | -35% |
| Total Fees & Other Program Income | $ 59,825 | $ 62,413 | $ 67,914 | $ (7,637) | -11% |
| Other Non-Program Income: | |||||
| Misc. Donations | 1,000 | - | 1,677 | (1,677) | -100% |
| Supermarket Rebates | 5,200 | 2,868 | 6,109 | (3,241) | -53% |
| Interest | 200 | 264 | 412 | (148) | -36% |
| Total Non-Program Income | $ 6,400 | 3,132 | $ 8,198 | $ (5,066) | -62% |
| Exhibit B-3 | |||||
|
Holy Family School
|
| Difference | |||||
| Budget | 2006-07 12/31/2006 |
2005-06 12/31/2005 |
Amount | Percent | |
| Payroll Expense: | |||||
| Teachers (Note 1)-10 Month Pay | 409,159 | 411,736 | 383,924 | 27,812 | 7% |
| Non-Teaching | 82,872 | 83,333 | 81,591 | 1,742 | 2% |
| Before & After School Cares | 5,990 | 6,840 | 12,265 | (5,425) | -44% |
| Sub Teachers | 1,600 | 1,538 | 12,002 | 0% | |
| Maintenance | 13,780 | 13,805 | 13,422 | 383 | 3% |
| Total Payroll Expense | $ 513,401 | $ 517,252 | $ 503,204 | $ 14,048 | 3% |
| Fringe Benefits: | |||||
| FICA Tax | 39,275 | 38,169 | 37,247 | 922 | 2% |
| Health Insurance | 65,000 | 80,828 | 64,228 | 16,600 | 26% |
| Employee Pension | 15,000 | 21,052 | - | 21,052 | 100% |
| Compensation Insurance | 3,150 | - | 6,446 | (6,446) | -100% |
| Disability Insurance | 2,225 | - | 4,911 | (4,911) | -100% |
| Unemployment Insurance | 1,750 | 1,870 | - | 1,870 | 100% |
| Miscellaneous | - | - | - | - | 0% |
| Total Fringe Benefits | $ 126,400 | $ 141,919 | $ 112,832 | $ 29,087 | 26% |
| Administration: | |||||
| Prof. Fees/Contract Ser. | 3,150 | 2,078 | 5,124 | 3,046 | 59% |
| Property & Liab. Ins. | 9,001 | - | 7,558 | (7,558) | -100% |
| Telephone | 2,900 | 1,840 | 2,433 | (593) | -24% |
| Ed Materials & Supplies | 16,000 | 13,592 | 13,801 | (209) | -2% |
| Student Activities | 18,500 | 12,446 | 15,400 | (2,954) | -19% |
| Staff Development | 2,250 | 1,488 | 1,225 | 263 | 21% |
| Dues & Subscriptions | 9,000 | 834 | 535 | 299 | 56% |
| Office Supplies | 4,500 | 4,972 | 5,165 | (193) | -4% |
| Misc. Admin. | 1,500 | 1,432 | 5,762 | (4,330) | -75% |
| Total Administration | $ 66,801 | $ 38,682 | $ 57,003 | $ (12,229) | -21% |
| Maintenance, Repairs & Utilities | |||||
| Maintenance & Repairs | 17,000 | 4,069 | 20,409 | (16,340) | -80% |
| Janitorial Services | 3,425 | 5,600 | 8,835 | (3,235) | -37% |
| Electric & Gas - PECO | 11,500 | 16,206 | 9,218 | 6,988 | 76% |
| Heat Oil | 10,000 | 5,690 | 3,095 | 2,595 | 84% |
| Water & Sewer | 1,000 | 42 | 1,148 | (1,106) | -96% |
| Deferred Maintenance | 9,000 | - | - | - | 0% |
| Total Maint, Repairs & Utilities | $ 51,925 | $ 31,607 | $ 42,705 | $ (11,098) | -26% |
| Major Impr. & Additions: | - | ||||
| Copier | 2,595 | 3,179 | 4,111 | (932) | -23% |
| Parking Lot | - | - | - | - | 0% |
| Roof Repairs | - | - | - | 0% | |
| Rekey Locks | - | - | - | 0% | |
| Total Maintenance & Repairs | $ 2,595 | $ 3,179 | $ 4,111 | (932) | -23% |
| Exhibit B-4 | |||||