Comprehensive Annual Financial Report - Harford County Public ...

Harford County Public Schools
Management's Discussion and Analysis (MD&A)
June 30, 2011
Fund Performance
Funds are self-balancing sets of accounts used to control and manage money for particular
purposes. As pointed out earlier, fund information is presented in two ways to satisfy two
specific purposes.
Exhibit 3 is the Balance Sheet for the HCPS’ governmental funds and Exhibit 5 presents those
same funds' results of operations.
General Fund - Unrestricted (Exhibit 7)
Changes made to the original budget during the fiscal year were inter-categorical transfers made
for two purposes; provide for additional non-public placement special education costs and
provide additional funds within categories to cover expenditures. Also the State Aid was reduced
by $6.1 million when the Governor substituted federal education jobs funds for state foundation
aid funding after the fiscal year began.
O riginal Budget Additions Reductions Total Change Final Budget
REVENUE
Local $ 214,061,789 $ - $ - $ - $ 214,061,789
State 199,663,261 - (6,144,622) (6,144,622) 193,518,639
Federal 650,000 - - - 650,000
Earnings on investments 150,000 - - - 150,000
Other Sources 2,570,958 - - - 2,570,958
Prior year's fund balance 5,432,714 - - - 5,432,714
Total revenues $ 422,528,722 $ - $ (6,144,622) $ (6,144,622) $ 416,384,100
EXPENDITURES
Administration $ 11,334,110.00 $ 105,145 $ (200,000) $ (94,855) $ 11,239,255
Mid-Level Administration 25,760,132 - (205,145) (205,145) 25,554,987
Instructional Salaries 167,034,492 - (600,000) (600,000) 166,434,492
Textbooks 7,969,580 - - - 7,969,580
Other Instructional Costs 3,347,357 - 200,000 200,000 3,547,357
Special Education 38,960,597 700,000 - 700,000 39,660,597
Student Personnel Services 1,654,612 - - - 1,654,612
Student Health Services 3,334,606 - 30,000 30,000 3,364,606
Student Transportation 29,291,690 - 450,000 450,000 29,741,690
Operation of Plant 31,545,767 - (585,449) (585,449) 30,960,318
Maintenance of Plant 11,697,674 585,449 - 585,449 12,283,123
Fixed Charges 89,715,918 (6,624,622) - (6,624,622) 83,091,296
Community Services 520,473 - - - 520,473
Capital Outlay 361,714 - - - 361,714
Total expenditures $ 422,528,722 $ (5,234,028) $ (910,594) $ (6,144,622) $ 416,384,100
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