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School District of Volusia County

Monthly Financial Statement

VISION STATEMENT

Ensuring all students receive a superior 21st century education.

November 30, 2018

MEMORANDUM

DATE: January 3, 2019 TO: Chairman, Members of the Board, and Superintendent FROM: Bertie Trawick, Finance Director SUBJECT: Explanation of Fluctuations between Fiscal Years in the Financial Statements The School District of Volusia County’s Monthly Financial Statement for November 2018 is presented herewith. This report consists of four sections: 1) Cash and Investments, 2) Combined Statement of Revenues, Expenditures & Changes in Fund Balances – Budget and Actual, 3) Facilities Acquisition and Construction Projects, and 4) Notes to the Financial Statements. Below is an explanation of fluctuations between fiscal years by fund. Overall, revenue in the General Fund increased $24.5 million (20%). State revenue shows an increase of $2.3 million due primarily to an increase in FEFP of approximately $1.5 million and receipt of an Emergency Impact Aid grant for approximately $1.2 million, offset by a decrease in School Recognition funds received. Property tax revenue shows an increase due to the timing of remittances from the County. Expenditures in the Instruction and Curriculum Development Services function shows an increase of approximately $1.2 million due primarily to an increase in expenditures for technology-related textbooks and rentals. The Operation of Plant function shows an increase of approximately $1.0 million due primarily to an increase in expenditures for safety and security, an increase in electricity expenditures, offset by a decrease in telephone expenditures. Expenditures in the Administrative Technology Services function shows a decrease of approximately $0.9 million due primarily to a decrease in expenditures for technology-related rentals and software. Federal through State revenue and Local Source - Other revenue in the Food Service Fund shows an increase due primarily to free breakfast and lunch served after Hurricane Irma in the prior year. State revenue shows an increase due to the timing of State reimbursements. Total expenditures in the Food Service Fund shows an increase of approximately $0.6 million due primarily to an increase in capital outlay expenditures, offset by a decrease in food supplies purchased. Expenditures in the Federal Program Funds remained consistent with the prior year. Expenditures in the Debt Service Funds remained consistent with the prior year. State revenue in the Capital Projects Funds shows an increase of $0.3 million due to an increase in Charter School Capital Outlay. Property tax revenue shows an increase due to the timing of remittances from the County. Local Source – Other revenue decreased due primarily to a decrease in impact fees. Expenditures increased due to various projects in progress. Major construction projects in progress are the replacement of Chisholm Elementary and George Marks Elementary, Deltona Middle master plan, renovations and additions at Westside Elementary, and HVAC and upgrades at Galaxy Middle, DeLand Middle, Creekside Middle and Pine Ridge High.

SCHOOL DISTRICT OF VOLUSIA COUNTY

Table of Contents

Page

Cash & Investments………………………………......................................................................... 1-3

Combined Statement of Revenues, Expenditures & Changes in

Fund Balances - Budget and Actual

General Fund……………………………......................................................................... 4

Special Revenue

Food Service…………………………………...........................................................................5

Federal Programs……………………………………….........................................................................6

Debt Service…………………………………………………….........................................................................7

Capital Projects………………………………………………….........................................................................8

Totals…………………………………….......................................................................... 9

Facilities Acquisition and Construction Projects......................................................................... 10

Notes to the Financial Statements………………………...........................................................................11

School Board of Volusia County, Florida Cash and Investments for the Period Ending November 30, 2018

Operating & Core Funds Permitted Individual Issuer Breakdown:Investment Type Market Value Cost % of Portfolio by Policy Permitted

Checking Accounts 3,380,141$ 3,380,141$ 1.84% N/A U.S Government Securities Market Value Cost % of Portfolio by Policy

Money Market Funds 25,738,584 25,738,584 13.97% 50% U.S. Treasuries 42,300,259$ 42,443,332$ 23.04% 100%

SBA (Florida Prime) 23,758,422 23,758,422 12.90% 25% Totals 42,300,259$ 42,443,332$ 23.04%

Florida Education Investment Trust Fund 41,648,755 41,648,755 22.61% 25%

Commercial Paper 19,277,407 19,234,618 10.44% 35% Federal Agency-Bond/Note Market Value Cost % of Portfolio

Corporate Notes 6,348,975 6,429,445 3.50% 25% FHLB 10,642,247$ 10,628,497$ 5.77% 40%

U.S. Government Securities 42,300,259 42,443,332 23.04% 100% FHLMC 507,744 510,000 0.28% 40%

Federal Agency-Bond/Note 20,059,909 20,087,673 10.91% 75% FNMA 8,909,918 8,949,176 4.86% 40%

Federal Agency-MBS 918,667 929,871 0.50% 25% Totals 20,059,909$ 20,087,673$ 10.91%

Municipal Bonds 528,187 530,000 0.29% 25%

Totals 183,959,306$ 184,180,841$ 100.00% Federal Agency-MBS Market Value Cost % of Portfolio

FNMA 918,667$ 929,871$ 0.50% 40%

Totals 918,667$ 929,871$ 0.50%

Money Market Funds Market Value Cost % of Portfolio

Fidelity Institutional Government 25,738,584$ 25,738,584$ 13.97% 25%

Totals 25,738,584$ 25,738,584$ 13.97%

Municipal Bonds Market Value Cost % of Portfolio

FL SBA Fin Corp Txbl Rev Bd 528,187$ 530,000$ 0.29% 5%

528,187$ 530,000$ 0.29%

Commercial Paper Market Value Cost % of Portfolio

Bank of Montreal 499,879$ 496,180$ 0.27% 5%

BNP Paribas 3,837,215 3,837,393 2.08% 5%

Credit Agricole 2,760,072 2,760,364 1.50% 5%

Dexia Credit 247,803 245,764 0.13% 5%

JP Morgan Securities 2,974,095 2,961,600 1.61% 5%

MUFG Bank 2,488,455 2,480,865 1.35% 5%

Natixis NY 3,489,988 3,478,037 1.89% 5%

Toyota Motor Credit 2,979,900 2,974,415 1.61% 5%

Totals 19,277,407$ 19,234,618$ 10.44%

Corporate Notes Market Value Cost % of Portfolio

3M Company 79,834$ 79,836$ 0.04% 5%

American Express Credit 253,719 259,662 0.14% 5%

American Honda Fin Corp 297,651 299,718 0.16% 5%

Apple Inc 187,779 189,810 0.10% 5%

Bank of America 248,854 255,000 0.14% 5%

BB&T 247,730 252,492 0.14% 5%

Caterpillar Financial 190,329 194,836 0.11% 5%

Charles Schwab 164,802 164,995 0.09% 5%

Cisco Sytems Inc 374,739 374,125 0.20% 5%

Citigroup 254,088 256,766 0.14% 5%

Exxon Mobile 126,029 126,053 0.07% 5%

Goldman Sachs 342,743 346,011 0.19% 5%

Hershey Co 114,880 114,921 0.06% 5%

Home Depot 117,657 119,930 0.07% 5%

Honeywell International 74,207 74,942 0.04% 5%

IBM 285,659 289,722 0.16% 5%

Intel Corp 127,994 129,951 0.07% 5%

John Deere Capital 282,008 284,889 0.15% 5%

JP Morgan Chase 493,971 500,265 0.27% 5%

Morgan Stanley 128,910 131,125 0.07% 5%

Paccar Financial 162,510 164,947 0.09% 5%

Pepsico Inc 92,538 94,981 0.05% 5%

Pfizer Inc 159,663 159,784 0.09% 5%

Toyota Motor Credit Corp 326,823 329,868 0.18% 5%

Unilever Capital Corp 142,632 144,298 0.08% 5%

Visa 68,729 70,770 0.04% 5%

Wal-Mart Stores 254,024 259,623 0.14% 5%

Walt Disney Corp 254,957 259,752 0.14% 5%

Wells Fargo & Co 493,516 500,373 0.27% 5%

Totals 6,348,975$ 6,429,445$ 3.50%

Checking Accounts 1.84%

Money Market Funds

13.97%

SBA - Florida Prime12.90%

FEITF22.61%

Commercial Paper10.44%Corporate

Notes 3.50%

U.S. Government Securities 23.04%

Federal Agency-Bond/Note

10.91%

Federal Agency-MBS0.50%

Municipal Bonds0.29%

Investment Allocation - Operating & Core Funds

Page 1


Sales Tax Revenue Bonds 2016 - Proceeds Individual Issuer Breakdown:

Investment Type Market Value Cost % of Portfolio U.S Government Securities Market Value Cost % of Portfolio

Checking Account 778,973 778,973 14.60% U.S. Treasuries -$ -$ 0.00%

Money Market Funds 4,555,119 4,555,119 85.36% Totals -$ -$ 0.00%

Florida Education Investment Trust Fund 2,036 2,036 0.04%

Commercial Paper - - 0.00%

U.S. Government Securities - - 0.00% Federal Agency-Bond/Note Market Value Cost % of Portfolio

Federal Agency-Bond/Note - - 0.00% FHLB -$ -$ 0.00%

Totals 5,336,128$ 5,336,128$ 100.00% Totals -$ -$ 0.00%

Money Market Funds Market Value Cost % of Portfolio

Fidelity Institutional Government 4,555,119$ 4,555,119$ 85.36%

Totals 4,555,119$ 4,555,119$ 85.36%

Checking Account14.60%

Money MarketFunds

85.36%

FEITF 0.04%

Investment Allocation - Sales Tax Revenue Bonds 2016

Page 2


Total - All Cash & InvestmentsNovember 2018 YTD Current

Maturity Distribution Market Value % of Portfolio Portfolio Performance & Earnings Net Earnings Net Earnings Yield

Overnight (Money Market Funds) 99,862,029$ 52.75% Checking Accounts (a) (a) 0.50% (a)

Under 6 Months 62,905,694 33.23% Fidelity Institutional Government MMF 13,929$ 96,496$ 1.87%

6 - 12 Months 5,782,983 3.06% SBA (Florida Prime) 47,464 240,924 2.44%

1 - 2 Years 10,154,713 5.36% Intergovernmental Investment Pool - FEITF 24,254 249,779 2.32%

2 - 3 Years 9,252,873 4.89% Securities - Operating 125,978 701,176 2.37%

3 - 4 Years 418,475 0.22% Securities - Core 40,319 160,300 2.93%

4 - 5 Years 107,849 0.06% Securities - STRB 2016 - 14,361

Over 5 Years 810,818 0.43% Totals 251,944$ 1,463,036$

Totals 189,295,434$ 100.00% (a)Earnings Credit Rate

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Portfolio Maturity Distribution

Operating Portfolio

Core Portfolio

STRB 2016

0.20%

0.40%

0.60%

0.80%

1.00%

1.20%

1.40%

1.60%

1.80%

2.00%

2.20%

2.40%

2.60%

2.80%

3.00%

Benchmark Comparison

Bank of America Checking Fidelity MMF Florida Prime

Securities - Operating FEITF Securities - Core

S&P Rated GIP Index Gov't 30-day BAML 1-3 US Treas Note Index

Page 3


Governmental Fund TypesCombined Statement of Revenues, Expenditures and Changes in Fund BalancesBudget and Actual November 30, 2018

YTD Annual YTD Budget %Actual Budget Encumbrance Actual Balance Remaining2018 2019 2019 2019 2019 2019

REVENUES:Federal Direct 87,055$ 320,000$ 96,451$ 223,549$ 69.86%Federal Through State 52,236 2,725,000 80,303 2,644,697 97.05%State Sources 115,646,434 275,652,299 117,963,762 157,688,537 57.21%Local Sources - Property Tax 4,094,714 174,971,114 26,008,495 148,962,619 85.14%Local Sources - Sales Tax - - - - - Local Sources - Other 4,878,373 6,460,118 5,097,698 1,362,420 21.09%TOTAL REVENUES 124,758,812 460,128,531 149,246,709 310,881,822 67.56%

EXPENDITURES: Current:Instruction 92,382,539 315,959,859 177,362,278 92,896,785 45,700,796 14.46%Student Support Services 5,544,347 19,564,922 11,938,404 5,724,555 1,901,963 9.72%Instructional Media Services 1,782,370 6,877,400 3,854,889 1,773,515 1,248,996 18.16%Instruction and Curriculum Development Services 3,934,925 12,110,586 6,991,972 5,122,569 (3,955) -0.03%Instructional Staff Training 534,398 1,732,725 726,553 636,777 369,395 21.32%Instruction Related Technology 1,584,856 6,059,135 1,847,064 1,657,781 2,554,290 42.16%Board 308,657 667,868 228,258 272,597 167,013 25.01%General Administration 553,393 1,911,295 761,093 724,416 425,786 22.28%School Administration 12,874,515 36,428,683 21,966,272 13,375,186 1,087,225 2.98%Facilities, Acquisition and Construction 178,803 510,187 5,033 493,695 11,459 2.25%Fiscal Services 1,094,211 2,834,660 1,534,243 1,097,423 202,994 7.16%Food Service - - - - - - Central Services 2,505,003 8,138,789 3,966,939 2,645,400 1,526,450 18.76%Student Transportation Services 5,632,393 17,385,937 8,381,788 6,078,089 2,926,060 16.83%Operation of Plant 16,859,330 37,533,560 11,516,692 17,896,941 8,119,927 21.63%Maintenance of Plant 5,053,483 14,900,841 7,620,243 5,242,625 2,037,973 13.68%Administrative Technology Services 4,815,574 10,827,788 3,413,165 3,961,420 3,453,203 31.89%Community Services 2,094,064 3,378,252 1,212,599 2,179,355 (13,702) -0.41%Debt Service - - - - - - TOTAL EXPENDITURES 157,732,861 496,822,487 263,327,485 161,779,129 71,715,873 14.43%Excess (Deficiency) of Revenues Over (Under) Expenditures (32,974,049) (36,693,956) (12,532,420) 239,165,949

OTHER FINANCING SOURCES (USES):Sale of Equipment 53,804 250,000 34,055 215,945 86.38%Sale of Land/Buildings - - - - - Insurance Loss Recovery - - - - - Other Loss Recovery 10,335 - - - - Transfers In 132,659 8,681,185 435,354 8,245,831 94.99%Transfers Out - - - - - TOTAL OTHER FINANCING SOURCES (USES) 196,798 8,931,185 469,409 8,461,776 94.74% Net change in fund balances (32,777,251) (27,762,771) (12,063,011) 247,627,725 Beginning Fund Balances 47,800,396 56,438,766 56,438,766 56,438,766 ENDING FUND BALANCES 15,023,145$ 28,675,995$ 44,375,755$ 304,066,491$

G E N E R A L F U N D

See accompanying notes 4



REVENUES:Federal Direct Federal Through StateState SourcesLocal Sources - Property TaxLocal Sources - Sales TaxLocal Sources - OtherTOTAL REVENUES

EXPENDITURES:Current:InstructionStudent Support ServicesInstructional Media ServicesInstruction and Curriculum Development ServicesInstructional Staff TrainingInstruction Related TechnologyBoardGeneral AdministrationSchool AdministrationFacilities, Acquisition and ConstructionFiscal ServicesFood ServiceCentral ServicesStudent Transportation ServicesOperation of PlantMaintenance of PlantAdministrative Technology ServicesCommunity ServicesDebt ServiceTOTAL EXPENDITURESExcess (Deficiency) of Revenues Over (Under) Expenditures

OTHER FINANCING SOURCES (USES):Sale of EquipmentSale of Land/BuildingsInsurance Loss RecoveryOther Loss RecoveryTransfers InTransfers OutTOTAL OTHER FINANCING SOURCES (USES) Net change in fund balancesBeginning Fund Balances ENDING FUND BALANCES


-$ -$ -$ -$ 6,332,142 24,160,000 7,042,419 17,117,581 70.85%

- 333,000 157,238 175,762 52.78%- - - - - - - - - -

1,252,084 4,016,500 1,583,099 2,433,401 60.59%7,584,226 28,509,500 8,782,756 19,726,744 69.19%

- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -

11,013,049 35,963,948 9,137,790 11,630,371 15,195,787 42.25%- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -

11,013,049 35,963,948 9,137,790 11,630,371 15,195,787 42.25%

(3,428,823) (7,454,448) (2,847,615) 4,530,957

- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -

(3,428,823) (7,454,448) (2,847,615) 4,530,957 13,983,851 12,763,699 12,763,699 12,763,699 10,555,028$ 5,309,251$ 9,916,084$ 17,294,656$

F O O D S E R V I C E








-$ -$ -$ -$ - 15,995,923 45,762,788 16,548,291 29,214,497 63.84%

- - - - - - - - - - - - - - - - - - - -

15,995,923 45,762,788 16,548,291 29,214,497 63.84%

6,903,962 19,126,286 7,316,431 7,891,170 3,918,685 20.49%1,627,703 6,204,052 4,107,595 2,046,925 49,532 0.80%

- - - - - - 2,792,706 8,043,348 4,742,793 2,776,984 523,571 6.51%3,212,464 8,221,701 3,156,116 2,328,617 2,736,968 33.29%

3,568 8,700 5,567 3,567 (434) -4.99%- - - - - -

702,754 1,983,648 - 767,467 1,216,181 61.31%713,281 2,053,250 1,138,344 686,869 228,037 11.11%

- - - - - - - - - - - - - - - - - -

6,660 8,700 - 2,711 5,989 68.84%26,241 91,352 16,467 38,922 35,963 39.37%6,584 21,751 - 5,059 16,692 76.74%

- - - - - - - - - - - - - - - - - - - - - - - -

15,995,923 45,762,788 20,483,313 16,548,291 8,731,184 19.08%

- - - 20,483,313

- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 20,483,313 - - - - -$ -$ -$ 20,483,313$

F E D E R A L P R O G R A M S








-$ -$ -$ -$ - - - - - - - 350,120 - 350,120 100.00%- - - - - - - - - -

5,477 - 5,784 (5,784) - 5,477 350,120 5,784 344,336 98.35%

- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -

2,239,405 24,988,145 - 2,466,975 22,521,170 90.13%2,239,405 24,988,145 - 2,466,975 22,521,170 90.13%

(2,233,928) (24,638,025) (2,461,191) (22,176,834)

- - - - - - - - - - - - - - - - - - - -

1,432,160 24,677,338 1,366,100 23,311,238 94.46%- - - - -

1,432,160 24,677,338 1,366,100 23,311,238 94.46%(801,768) 39,313 (1,095,091) 1,134,404

1,406,862 1,668,944 1,668,944 1,668,944 605,094$ 1,708,257$ 573,853$ 2,803,348$

D E B T S E R V I C E








-$ -$ -$ -$ - - - - - -

1,238,492 2,033,445 1,568,552 464,893 22.86%1,225,905 54,895,769 8,152,703 46,743,066 85.15%9,743,525 41,740,656 10,646,630 31,094,026 74.49%3,370,424 4,120,015 2,829,879 1,290,136 31.31%

15,578,346 102,789,885 23,197,764 79,592,121 77.43%

- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -

21,447,652 142,622,776 59,025,071 31,098,943 52,498,762 36.81%- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -

21,447,652 142,622,776 59,025,071 31,098,943 52,498,762 36.81%

(5,869,306) (39,832,891) (7,901,179) 27,093,359

- - - - - 424,900 - - - -

- 13,230 13,230 - 0.00%- - - - - - - - - -

(1,564,819) (33,355,380) (1,801,454) (31,553,926) 94.60%(1,139,919) (33,342,150) (1,788,224) (31,553,926) 94.64%(7,009,225) (73,175,041) (9,689,403) (4,460,567)

111,232,532 117,853,637 117,853,637 117,853,637 104,223,307$ 44,678,596$ 108,164,234$ 113,393,070$

C A P I T A L P R O J E C T S








87,055$ 320,000$ 96,451$ 223,549$ 69.86%22,380,301 72,647,788 23,671,013 48,976,775 67.42%

116,884,926 278,368,864 119,689,552 158,679,312 57.00%5,320,619 229,866,883 34,161,198 195,705,685 85.14%9,743,525 41,740,656 10,646,630 31,094,026 74.49%9,506,358 14,596,633 9,516,460 5,080,173 34.80%

163,922,784 637,540,824 197,781,304 439,759,520 68.98%

99,286,501 335,086,145 184,678,709 100,787,955 49,619,481 14.81%7,172,050 25,768,974 16,045,999 7,771,480 1,951,495 7.57%1,782,370 6,877,400 3,854,889 1,773,515 1,248,996 18.16%6,727,631 20,153,934 11,734,765 7,899,553 519,616 2.58%3,746,862 9,954,426 3,882,669 2,965,394 3,106,363 31.21%1,588,424 6,067,835 1,852,631 1,661,348 2,553,856 42.09%

308,657 667,868 228,258 272,597 167,013 25.01%1,256,147 3,894,943 761,093 1,491,883 1,641,967 42.16%

13,587,796 38,481,933 23,104,616 14,062,055 1,315,262 3.42%21,626,455 143,132,963 59,030,104 31,592,638 52,510,221 36.69%1,094,211 2,834,660 1,534,243 1,097,423 202,994 7.16%

11,013,049 35,963,948 9,137,790 11,630,371 15,195,787 42.25%2,511,663 8,147,489 3,966,939 2,648,111 1,532,439 18.81%5,658,634 17,477,289 8,398,255 6,117,011 2,962,023 16.95%

16,865,914 37,555,311 11,516,692 17,902,000 8,136,619 21.67%5,053,483 14,900,841 7,620,243 5,242,625 2,037,973 13.68%4,815,574 10,827,788 3,413,165 3,961,420 3,453,203 31.89%2,094,064 3,378,252 1,212,599 2,179,355 (13,702) -0.41%2,239,405 24,988,145 - 2,466,975 22,521,170 90.13%

208,428,890 746,160,144 351,973,659 223,523,709 170,662,776 22.87%

(44,506,106) (108,619,320) (25,742,405) 269,096,744

53,804 250,000 34,055 215,945 86.38%424,900 - - - -

- 13,230 13,230 - 0.00%10,335 - - - -

1,564,819 33,358,523 1,801,454 31,557,069 94.60%(1,564,819) (33,355,380) (1,801,454) (31,553,926) 94.60%

489,039 266,373 47,285 219,088 82.25%(44,017,067) (108,352,947) (25,695,120) 269,315,832 174,423,641 188,725,046 188,725,046 188,725,046 130,406,574$ 80,372,099$ 163,029,926$ 458,040,878$

T O T A L S



Facilities Acquisition & Construction Projects July 1, 2018 - November 30, 2018

Proj # Description Current BudgetCurrent

EncumbrancesCurrent

ExpenditureProjects over $500,000

4495 DeLand Mid - Replace Fire Alarm & Intercom 679,007 315,558 363,449 4519 Pierson Elm - Replacement 3,953,579 1,011,594 1,741,613 4540 Chisholm Elm - Replacement 23,668,220 18,338,267 2,893,076 4553 Bonner Elm - Master Plan 731,198 342,636 333,921 4565 Pathways Elm - Campus Reroof 707,735 160,035 529,663 4582 Westside Elm - Renovations & Addition 15,560,527 6,686,534 2,219,332 4589 Galaxy Mid - Campus Wide HVAC, Ceiling, Lighting, Rerroofing 3,310,873 1,368,075 1,952,740 4620 Deltona Middle - Master Plan 3,077,265 2,835,884 241,381 4621 George Marks Elm - Master Plan 3,809,662 2,274,251 86,383 4622 Atlantic HS - Upgrade Chillers 4 and 5, HVAC Bldg 3 1,225,332 86,034 1,111,248 4623 Creekside Mid - Upgrade HVAC Bldgs 2 and 10 712,611 68,918 643,693 4624 DeLand Mid - Campus Wide HVAC, Ceiling and Lighting 9,887,615 5,713,670 4,036,560 4625 Heritage Mid - Upgrade HVAC Bldgs 5, 6 and Generator 1,991,602 91,602 - 4627 Indian River Elm - Upgrade Cooling Tower, Outside Air and Piping 1,011,174 - 986,528 4628 Pine Ridge HS - Campus Wide Reroof 3,463,020 159,524 50,504 4629 Pine Ridge HS - Replace Chillers 3 and 4, HVAC Bldg 2 1,342,511 61,894 1,199,302 4630 Seabreeze HS - Upgrade Chiller Water Plant 2,157,086 157,670 9,416 4631 Spruce Creek HS - Master Plan 900,100 20,235 4,825 4648 Holly Hill K8 - Upgrade Chiller Plant 611,880 - 611,880 4651 Indian River Elm - Roof Replacement Buildings - 1 and 4 - 6 732,504 680,168 8,618 4674 Seabreeze HS - Window and Door Replacement Bldgs 7 - 11 909,812 229,955 635,260 4683 Atlantic HS - Athletic Field Lighting 643,457 64,559 - 4718 Atlantic HS - Upgrade Fire Alarm and Intercom 1,000,000 123,500 - 4720 Creekside Mid - Upgrade HVAC Bldgs 1, 3, 10 and Chiller 3 1,950,000 119,180 35,600 4721 Deland HS - Upgrade Auditorium Chiller Plant 600,000 42,505 17,310 4723 Deland HS - Upgrage Fire Alarm and Intercom 1,300,000 - - 4726 Holly Hill School (K-8) - Replace Millwork Bldgs. 1-10 660,000 70,799 3,726 4727 R.J. Longstreet Elm - Metal Reroof Bldgs. 3-8 575,000 - - 4729 Mainland HS - LED Lighting Upgrade Campus Wide 650,000 - - 4733 Pine Ridge HS - Upgrade HVAC, Ceiling and Lighting Bldg. 8 1,900,000 171,795

SUBTOTAL OF CURRENT BUDGET AND EXPENDITURES 89,721,771 41,194,843 19,716,028

Other Capital Projects 52,901,005 17,830,228 11,382,915

142,622,776$ 59,025,071$ 31,098,943$ TOTAL OF CURRENT BUDGET AND EXPENDITURES

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Notes to the Financial StatementNovember 30, 2018

Cash and Investments

1. "Float" monies not included in account balances reported.

2. Rate of returns vary based on bond type and rate structure.

Governmental Fund Types - Combined Statement of Revenues, Expenditures & Changes in Fund Balances

Notes to the Financial Statements………………………..1. The "Budget" column reflects the annual budget.

2. The "Actual" column reflects revenues as received and expenditures as incurred. It does not include encumbrances.

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