WEBSTER CENTRAL SCHOOL DISTRICT, NEW YORK
FINANCIAL EXECUTIVE SUMMARY
For Years Ended June 30, 2023 and 2022
October 12, 2023 By: Thomas Zuber, CPA
TABLE OF CONTENTS
Summarized Balance Sheet
1
Reserve Analysis
2
Revenue Summary
3
Expenditure Summary
4
Summary of Other Funds
5
Other Items Reported In Your Audit
6
WEBSTER CENTRAL SCHOOL DISTRICT, NEW YORK General Fund - Summarized Balance Sheet June 30, 2023 and 2022 Assets: Cash Receivables Due from other funds Total Assets Liabilities: Accounts payable Accrued liabilities Due to other funds Due to other govenrments Due retirement systems Other liabilities
2023 $ 49,797,905 9,505,501 52,787,624 $ 112,091,030
$
$
2022 28,439,540 7,980,482 31,900,452 68,320,474
Variance $ 21,358,365 1,525,019 20,887,172 $ 43,770,556
$
1,566,226 284,048 41,462,912 208,939 8,961,151 2,634,753
$
2,211,951 466,861 6,425,654 208,207 8,086,528 2,669,788
$
(645,725) (182,813) 35,037,258 732 874,623 (35,035)
$
55,118,029
$
20,068,989
$
35,049,040
Workers compensation $ Unemployment cost Employee retirement contribution reserve Teacher Retirement contribution reserve Liabilities Insurance Tax certiorari Capital Employee benefit accrued liability Assigned Encumbrances Appropriated for taxes Unassigned Undesignated fund balance
4,553,250 1,220,553 9,070,444 3,330,593 4,323,531 2,000,000 4,185,255 15,196,621 1,035,327
$
4,027,999 1,212,950 8,765,494 2,812,959 3,302,826 4,159,181 10,633,958 1,028,877
$
525,251 7,603 304,950 517,634 1,020,705 2,000,000 26,074 4,562,663 6,450
Restricted -
558,065 5,500,000
555,759 5,500,000
2,306 -
5,999,362
6,251,482
(252,120)
Total Fund Balances
$
56,973,001
$
48,251,485
$
8,721,516
Total Liabilities and Fund Balance
$ 112,091,030
$
68,320,474
$
43,770,556
1
WEBSTER CENTRAL SCHOOL DISTRICT, NEW YORK Reserve Analysis June 30, 2023 Balance Type
07/01/22
Appropriated
Equity
Balance
Reserve
Transfer
06/30/23
Revenue
General Fund Available to help support operating expenses: Employee retirement
$ 8,765,494
$
54,950
$
-
$
250,000
$
9,070,444
Teachers retirement
2,812,959
17,634
-
500,000
3,330,593
Workers compensation
4,027,999
25,251
-
500,000
4,553,250
Unemployment
1,212,950
7,603
-
-
1,220,553
-
-
1,035,327
-
4,496,000
15,196,621
Restricted for compensated absences due upon retirement: Employee benefit accrued liability
1,028,877
6,450
Restricted for capital purposes only (subject to voter approval): 2017 Capital reserve
10,633,958
66,663
Restricted for uninsured losses, claims, or judgments: Insurance
-
-
-
2,000,000
2,000,000
Liability
3,302,826
20,705
-
1,000,000
4,323,531
Tax certiorari
4,159,181
26,074
-
-
4,185,255 $ 44,915,574
Total General Fund
$ 35,944,244
$
225,330
$ 3,516,567
$ 2,828,629
$
-
$
8,746,000
$ (2,425,742)
$
-
2023-24 $ $ 5,500,000 $ 5,500,000
2022-23 $ 500,000 $ 500,000 5,500,000 $ 6,000,000
Debt Service Fund Debt
$
3,919,454
The District appropriated the following reserves: General Fund Reserve for ERS Total Appropriated Reserves Appropriated fund balance Total General Fund Fund Balance and Reserves
2
WEBSTER CENTRAL SCHOOL DISTRICT, NEW YORK General Fund - Revenue Summary For Years Ended June 30, 2023 and 2022
Year 2023: Real property taxes and tax items Non property taxes (sales) Charges for services Use of money and property Sale of property and compensation for loss Miscellaneous State sources Federal sources Total Year 2023
Year 2022: Real property taxes and tax items Non property taxes (sales) Charges for services Use of money and property Sale of property and compensation for loss Miscellaneous State sources Federal sources Total Year 2022
Budget (Amended) $ 118,068,533 8,000,000 415,000
Actual $ 118,061,052 10,689,342 719,901 1,800,716
Variance $ (7,481) 2,689,342 719,901 1,385,716
1,800,000 61,529,924 -
111,174 1,813,720 64,994,521 400,107
111,174 13,720 3,464,597 400,107
189,813,457
$ 198,590,533
$
Budget (Amended) $ 115,876,807 7,350,000 465,000
Actual $ 116,066,199 10,540,530 304,773 319,385
Variance $ 189,392 3,190,530 304,773 (145,615)
1,800,000 56,822,638 -
51,171 1,120,845 60,231,030 312,830
51,171 (679,155) 3,408,392 312,830
182,314,445
$ 188,946,763
$
$
$
8,777,076
6,632,318
3
WEBSTER CENTRAL SCHOOL DISTRICT, NEW YORK General Fund - Expenditure Summary For Years Ended June 30, 2023 and 2022
Year 2023 General support
$
Budget
Actual With
(Amended)
Encumbrances
17,596,496
$
17,423,224
Variance $
173,272
Instruction
99,588,369
95,813,716
3,774,653
Transportation
9,056,363
8,922,973
133,390
860,284
812,317
47,967
Benefits
49,668,569
47,855,717
1,812,852
Debt service
17,382,579
17,382,579
-
Transfers
2,216,556
2,216,556
-
Community services
Total Year 2023
$
Year 2022 General support
$
Instruction
196,369,216
$
190,427,082
Budget
Actual With
(Amended)
Encumbrances
16,046,677
$
15,685,172
$
5,942,134
Variance $
361,505
100,621,967
93,792,925
6,829,042
Transportation
8,222,110
7,993,357
228,753
Community services
1,345,697
775,839
569,858
Benefits
47,442,233
46,379,034
1,063,199
Debt service
14,513,774
14,425,280
88,494
Transfers
1,308,108
1,302,718
5,390
Total Year 2022
$
189,500,566
$
180,354,325
$
9,146,241
4
WEBSTER CENTRAL SCHOOL DISTRICT, NEW YORK
Summary of Other Funds For Years Ended June 30, 2023 and 2022 School Lunch Fund balance, beginning Revenue in excess of expenses Fund balance, ending Miscellaneous Special Aid Fund balance, beginning Expenses in excess of revenues Fund balance, ending Special Aid Fund balance, beginning Revenue Expenditures Transfers Fund balance, ending Debt Service Fund balance, beginning Earnings Expenses Premium on obligations issued Fund balance, ending Capital Projects Fund balance, beginning Revenues Expenses Proceeds from obligations BANs redeemed from appropriations Transfer-in Fund balance, ending
$
2023 2,379,893
$
2022 702,752
$
454,188 2,834,081
$
1,677,141 2,379,893
$
2023 228,028
$
2022 253,328
$
(28,750) 199,278
$
(25,300) 228,028
$
$ $
$ $
$
2023 56,011 16,279,904 (16,152,880) 250,552 433,587 2023 3,516,567 52,490 (2,425,742) 2,764,850 3,908,165 2023 (52,939,957) (28,830,410) 26,374,506 2,695,000 1,966,004 (50,734,857)
$
$ $
$ $
$
2022 (178,805) 10,792,464 (10,792,258) 234,610 56,011 2022 3,155,965 2,069 358,533 3,516,567 2022 (21,262,317) 2,683,259 (36,995,007) 1,566,000 1,068,108 (52,939,957)
5
WEBSTER CENTRAL SCHOOL DISTRICT, NEW YORK OTHER ITEMS REPORTED IN YOUR ENTITY - WIDE FINANCIAL STATEMENTS June 30, 2023
Statement of Net Position ASSETS Cash and cash equivalents Investments Accounts receivable Inventories Capital Assets: Land Work in progress Other capital assets (net of depreciation) TOTAL ASSETS DEFERRED OUTFLOWS Deferred outflow of resources LIABILITIES Current liabilities Long-Term Obligations: Due in one year Due in more than one year TOTAL LIABILITIES DEFERRED INFLOWS Deferred inflow of resources NET POSITION Invested in capital assets, net of related debt Restricted For:
2023 $
$
2,147,912 72,167,819 151,586,429 291,611,148
$
74,248,395
$
52,299,728
$
14,759,537 350,112,840 417,172,105
$
86,438,451
$
96,093,872
$
9,070,444 15,196,621 24,767,241 (282,879,191) (137,751,013)
$
263,230,918
Reserve for employee retirement system Capital reserves Other purposes
Unrestricted TOTAL NET POSITION *
Total actuarial accrued liability for retiree health benefits (OPEB)
50,482,907 135 15,160,848 65,098
6