We have uh someone in the back uh checking on her, making sure that she's okay. Okay, thank you. Thank you. Just one more my points here. Okay, thank you very much. Um Okay, real quick, just a few things. Uh again, um you know, just an really an incredible place. And I know I'm not just saying that because you think I need to. Um obviously with a new superintendent coming in, especially a superintendent that's not from the city. Um and from the outside, there's, you know, there's there's some back and forth a little bit, different ideas. I have some ideas. Obviously, we want to get the stakeholders involved. Uh we had some really great things that when I first came here that, you know, things happen. We had a you know, parent teacher. Um, God bless you. Parent teacher consolidated uh group that we started that we thought was getting off to a right track and hopefully that gets back.
So you can see them by categories. These are object categories. So it breaks it down by salaries and benefits and then some um others professional services uh supplies and those type of things. Just want to draw your attention to the two um top colors the salaries and benefits. So you'll see there um 73% of the education fund is salaries and 24% is um benefits. So um just like you would think the fund represents education that is um directly aimed toward student education. So that that's the reason name for the the fund. So you'll see that uh 97% of the fund is salaries and benefits. So that's all of our teachers, our principles, all those directly um involved with the education of our students along with uh anyone that is at the school level. So then you'll see um right below that pie chart the graphs for the revenue and expenditures.
We get to meet again on that. I'm sure they're still meeting but uh we haven't had any headway with that. We talked about um music, increasing the music, enhancing the music program. Um we did some of that's that much as we could as soon as we got here and could do that. Again, I don't think you realize that you know the teachers really had a you know with the administration schedule some of those things. You know, Miss Bellinger did an incredible job. Dr. Kusmano putting that program in. Um we've done a lot of incredible things. The re-registration is a huge undertaking. Um and again, I don't know where that's going to wind up. Um July 1, I'll be reporting to you all. Please, parents, get your stuff in. Re-register your children. Uh it's really important. Uh junior ROC, all these incredible things. Women's empowerment programs for Girls on the Run coming uh in September.
So you'll see the budget for the revenues in green and then throughout the year you'll see that yellow line for the year-to- date rise um each month. And same thing with the expenditures. The blue uh is the expected uh budget from the budget order and then also the year-to date that you'll see rise throughout the year. Below that, you'll see a box that that explains what percent of the year that we are at. And um the blue that you see highlighted there is the percent of the budget year expended. So that is um the number of days from January to February divided by 365 days. That gives you the percent that gives us a foundation to look to see um how much right below that of the revenue that we've received um that we were anticipated to receive. You'll see that um 1616% but the revenue we've received 16.88%.
Some I think we're going to talk about that a little later maybe. um Easy Ride, which is a which is a uh a nonprofit organization that provides rides to, you know, people and it's ride share. But our students came up with a fundraiser that we're going to we're going to possibly do because we have um citizens in the city who need rides and to subsidize those rides costs money. So, our students are going to help raise money for that, our interact club, and just all just incredible things. The play was phen like I said. The musical was phenomenal. Um the the the concerts before that were incredible. Again, I say that now because the board reorganizes again soon. Uh so again, this is an ending of usually when I end a board year, which we did in December. We're kind of ending a board year again because of of the election coming up.
So that's good. We've received a little bit more than um anticipated for this time of year. And then the percent of budget expendited is 13% which that's our goal is always to have a little bit more revenue than we anticipated because we anticipate low on the revenue and then um have uh less for the expenditures because we always round up and we um budget higher for our expenditures for the unknowns that come in the future. Then you'll see the summary, the year-to- date summary there where it lists everything from the beginning cash balance and then um the year-to- date revenue and expenditures coming off that. We even show outstanding purchase orders, the outstanding incumbrances and purchase orders are uh purchase orders that we've done to businesses where we have done an order for uh product or service and we have yet to pay for it.
Um which to start there is April 15th. Uh please get out and vote. I'm telling everyone to get out and vote. It's important. It's your it's your right. People fought for that right years and years ago. We teach it all the time. um get out and exercise your right to vote. There is no vote on this budget. The budget was approved tonight. Um I appreciate the board looking at that. Um and and really, you know, hitting me with some really tough questions, especially in committee. We we had, you know, five hours of committee meetings back and forth and different parts of that. So, uh I have to say it was a very thorough process. You guys did an incredible job. Um and I appreciate all the of the support, the majority support here on that. and we're going to make sure that money is, you know, is spent spent wisely.
So, that is a promise that we made through a purchase order. So, we'd like to kind of take that off and then do a revised fund balance. I did want to um talk about fund balance, cash balance. If you've heard anything through all this with the legislative session this year, for some reason um they are targeting corporations cash balances, fund balances. So, I just wanted to kind of run through that of why some districts might have what some deem as a higher cash balance than others. They look at percentages, they look at amounts, they're looking at all different kinds of stuff and um in my opinion misconstruing what the the reason is for cash balances. So, I wanted to kind of highlight that for Huntington this evening. talking about a cash balance and what it refers to is the amount of money a school district has available at a given time.
Uh there is no there is no vote on that contrary to to belief or or where you think you're going to vote. Um it's not there, just so you all know. I keep getting questions on it. Uh even some board members uh asked me about that um not too recently. So So again, let's make it extremely clear. Um the budget that was just passed will definitely enhance the academic prowess of this this incredible place. Um, I'm getting to see it firsthand as I'm I'm in the classrooms looking some of the things that teachers are doing. Just read across America which week week, which I know some of you were also reading. Thank you for coming in and reading. Um, just great stuff. Um, we're working on new scheduling or a different schedule, a little attenuated schedule. Um, so that'll be coming out. The the goal is to get all of our students to schedule in all their hands before we leave um uh high school at least.
It includes funds in reserve for emergencies, operational needs, future investments and u managing these cash balances is critical because it impacts financial stability. um creating healthy reserves to ensure the district can cover payroll, operational expenses, and unexpected costs that may come up. It also helps our bond ratings and borrowing cost. The higher reserves can improve credit ratings leading to lowering borrowing borrowing cost um for capital projects. It helps with program sustainability. Maintaining appropriate cash levels helps prevent sudden cuts to programs, staffing, or student services, which that's of course what we try to avoid when these unknowns happen at legislative sessions like this year is presenting. It it provides taxpayer confidence, transparent financial management, reassures taxpayers that funds are being used efficiently and responsibly. And however, there's no one-sizefitsall answers for what a true cash balance should be at each district. Every district has their own anomalies that happen and criteras that happen through throughout their years.
Uh, moving forward. Uh we do have some different uh ideas um for some positions and whatnot. Uh some things that I see that we're missing here um with regards to um compliance and other things that haven't been in place. Uh and when I say compliance, it's not a want, it's it's a necessity. It's supposed to happen, right? There's two things that a that that a board does um that's their job. It's create policy and hire a superintendent. That's their their really two major goals. They don't govern in the schools. They don't do any of that stuff. the two things they do. Statute is what legislators create and they do that as laws. Okay? And for us it's usually 6A and 18A, sometimes 2A, which is the criminal code. Um, got to watch some of those areas too with other compliance. We have to make sure we're in compliance.
Now, people ask like how much balance should a corporation hold? It all depends on that particular district for size and enrollment trends for that district. Um like we already talked about revenue stability. uh districts heavily reliant on state funding and property tax um must prepare for potential shifts in revenue streams for the district. For instance, we have um certain grants that are reimburseable grants. So, we need that cash flow as we're going through until we can get reimbursed from the state. Same thing with property taxes. You'll see in my next um couple funds, they are property tax funds. So, we only receive that property tax basically two main times of the year, June and December. We need that cash flow throughout that time until we receive that money. So, I just wanted to kind of highlight some of those things um for the public and for the school board of why sometimes it might look like we have more of a cash balance than some might, you know, think that we should have, right?
This budget that you all approved tonight, um, allows us to to go in compliance, which I think this this community or this city needed for some time now. And I I I can only apologize uh for where I am now that it hadn't happened prior to that. But uh I think we found a way of doing that and and moving some of the monies around. Um and getting back to those legislators who was mentioned before, they don't give us money. You think they do, but they don't. Um that's all set by formula. Okay? You could ask, we could call, we want. It sounds good. Yeah, we'll get you some money. They need to switch that formula around. And they do they do lobby for that stuff and different bills and during elections all these bills going and then you never hear about them again. and all that other stuff and and usually it's public interest but the reality is is formula is formula and originally we were in trouble we were definitely in trouble here uh formula flipped I don't know if it was because of the gubernatorial election coming up or not I mean we could say whatever we want um but it did help us in our favor thank god so uh so moving forward we're going to take that and run with it uh next year I'm telling you already it's we're we're we're already going to be tight but I think I know uh some areas that we will be able to keep the budget uh hopefully flat or stable without losing programs or positions.
And so what's going to happen late this summer, early in the fall, Becky and I are going to walk you through a process where we're going to determine as a board um what are what is your goal exactly for that reserve? What percent is it that you're going to want us to strive for? Okay. So, um, when we're starting through the budget process, what I'm going to add to that this next year is to walk through a process with you where we determine what do you want that cash balance to be percentage percentage-wise. Okay. So, once the legislative session's over, we're going to have a much clearer picture. Yes. Of that whole process. I didn't want to do it before. Exactly. So, that's why we're going to do it during the budget cycle here the next time. So, all right. Thank you, Becky. You're welcome.
So, um I do need to talk about two two things that are really important. Um so, if you give me a couple of seconds, I would I would really appreciate that here. Um first, I just want to say we we added SA on this agenda, we're adding SAT courses, okay? So our students can kind of, you know, we through title monies, we have a program where students now can sign up for SAT courses and we I think we have like 50 students right now, 48 students. So that's an incredible number right away. Uh it's great for this community. I know SAT courses are $100 a session usually. Uh so this is great using some of those funds that we've had um with title monies to do that. So I hope all of our students take advantage of that. But that's a plus for this board and I appreciate your support in that.
So, just wanted to kind of give you that little tidbit. Go ahead. So, because I haven't seen this this year, um, I'm assuming we chose re revenue rather low because we're unfamiliar or the unknown of what the bud of will we restate that once the legislative session comes out and kind of figures out what's going to happen. We'll make some of those comments and we can make notes on the financials, but those estimates and um for the revenue and for the expenditures have been certified. That's a certification that we do through the Department of Local Government Finance. But one thing that's a plus is we hope that it's more than what we've estimated. So, we would make note of that. If it's less, we would also make note of that that we um plan on balancing our revenue with our expenditures unless the board would choose a certain program or something that they wanted to do that would utilize um existing cash balance.
Also, girls lacrosse had their first scrimmage the other day. Just just a fantastic uh thing to see them out there. Uh we have we actually have half the um half of the team's ours. I guess we co-oped with Saddlebrook. So, half the team's ours and it's almost 50% 50/50. Um that's something here hopefully. Um you know, we want to get it. We want something to build like that. Especially this program for girls. If you've ever seen girls lacrosse, it's an incredible game. Come out. Um we'll post the schedule. Uh it's probably it's posted. I'm sorry, but I'll get it out for you guys. Um I would love to see um the town, the recck department help help with that a little bit as a feeder. Uh we need and they're doing an incredible job with some of the other stuff. So we we need to make sure we get this on the docket too so that in a couple years we have we have a really tough um tough girls varsity team.
Yeah. Because what worries me is the revenue over expenses shows an $8 million deficit and we just talk about cash balances and to me that that was a worrisome number, but because it's sort of So did that come off of the 1782 notice? Excuse me. Did that did that was that all part of the 1782 notice? It sure is. Cool. You used to give us You used to give us a copy of that. I haven't seen one in. I haven't seen this year's. Oh, well, we usually um the budget order. Um I kind of do that in our year in presentation, but it's not the full sheets that you're probably used to, but I'll go ahead and put that in your board pack at the next board meeting for you. I'm a nerd. I like that. Hey, I do too. So, we we can relate.
Uh which I'm sure they're going to be tough this year anyway. Um but again, this is the type of sport that if you start young and you know uh we have the fields now for it. We definitely have the ability to do that. um you know and and uh you know I think it's important thing to continue to add these programs for students that want to play. So obviously that's an important thing. Um it's it's really really uh you know I'm going to tread very lightly with this because I I don't I don't want I have to say it. I just don't I just don't know why it happened. Um but I did send something out with regard to the parking. um up at the field. Um I'm very concerned with the safety of the students, especially the middle school students that walk through that through that area.
Okay, moving on. We'll go through the next um fund here and you'll see Becky, why is there blanks under the yellow? Well, this is one of those property tax funds that I talked about. So, we have the budget order of the anticipated revenues and and um expenditures, but nothing for the actual month for um January or February. So, this is one of those funds um that is a tax uh property tax fund. I'm sorry. The other one, our education, our revenue comes from our state tuition, our basic grant, not through property taxes. So that's why you saw revenue in the education fund already, but not in the debt service fund. So the debt service fund, most of it, we might get a little bit at the end of May, but the majority will be December, I mean, um June and December. And then the payments, you'll also see those two months in June and December coming out of that fund.