71 Central St. Stoneham, MA 02180

School Fiscal Year-End 2018 Actual vs Budget

  2018       $   %
  ACTUAL   BUDGET   VARIANCE   VARIANCE
REVENUE              
Tuition and Fees $1,865,736   $1,818,950   $46,786 (1) 2.57%
Gifts and Bequests 16,926   0   16,926 (2) 100.00%
Interest Income 5,983   0   5,983   100.00%
Fundraising Activities 106,470   100,000   6,470   6.47%
Athletic Program Income 11,510   10,500   1,010 (3) 9.62%
Other Income 101,334   0   101,334   100.00%
Transfer from Parish 0   0   0   0.00%
TOTAL REVENUE $2,107,959   $1,929,450   $178,509    
               
EXPENSE              
Employee and Non-Employee Compensation $1,295,385   $1,310,575   ($15,190) (4) -1.16%
Benefits and Payroll Taxes 228,638   276,483   (47,845) (5) -17.30%
Professional Fees 0   0   0   0.00%
Teaching Supplies 20,370   25,000   (4,630)   -18.52%
Books and Pamphlets 20,242   26,500   (6,258)   -23.62%
Telephone and Utilities 47,075   33,500   13,575 (6) 40.52%
Maintenance and Repairs 79,353   76,500   2,853   3.73%
Office Supplies 7,987   11,000   (3,013)   -27.39%
Postage, Printing, and Development 4,164   6,000   (1,836)   -30.60%
Athletic Program Expenses 13,033   10,500   2,533   24.12%
Program Expenses 90,763   63,800   26,963 (7) 42.26%
Professional Memberships 4,776   5,500   (724)   -13.16%
Propery and Liability Insurance 7,231   7,000   231   3.30%
Furniture & Equipment 26,235   63,500   (37,265) (8) -58.69%
Capital Improvements 99,959   50,000   49,959 (9) 99.92%
TOTAL EXPENSES $1,945,211   $1,965,858   ($20,647)    
NET INCOME (LOSS) $162,748   ($36,408)   $199,156   -547.01%
               
Footnotes:
(1) Includes Extended Day Income not included in budget.
(2) Various donations received including donations towards new playgrounds ~$20k. A conservative approach
is taken in budgeting for donations.
(3) Includes Grant received for Apprentice Principal Program, pizza lunch income, milk program income, etc. Not included in budget.
(4) Savings from staffing changes.
(5) Decrease in number of employees enrolled in health and dental insurance plans.
(6) Increase in cost of utilities; expenses related to new phone system.
(7) Includes costs, of all field trips, including Washington D.C. and NYC, enrichment program, milk program, pizza lunch, etc.
(8) Technology upgrades not completed during fiscal year. Costs rolled forward into next fiscal year.
(9) New Playgrounds ~$78k; Improvements to old school basement including installation of new closet space ~$22k.
 
Notes:
Cash Balances at 6/30/18...Checking Account $317k; Savings Account $335k
Outstanding Bills at 6/30/18...$11k
Accrued Payroll at 6/30/18...$120k
There are no outstanding loan balances at 6/30/18.
Major capital expenditures made during fiscal year 2018 include new playgrounds.