FISCAL YEAR 2008-2009 Financial Report August 2008 Year To Date
-
Upload
reuben-waller -
Category
Documents
-
view
17 -
download
3
description
Transcript of FISCAL YEAR 2008-2009 Financial Report August 2008 Year To Date
![Page 1: FISCAL YEAR 2008-2009 Financial Report August 2008 Year To Date](https://reader036.fdocuments.in/reader036/viewer/2022062516/56812ad9550346895d8ebf73/html5/thumbnails/1.jpg)
August 2008EXECUTIVE SUMMARY
Saint Louis Public SchoolsAugust 2008 Monthly Financial
Report
![Page 2: FISCAL YEAR 2008-2009 Financial Report August 2008 Year To Date](https://reader036.fdocuments.in/reader036/viewer/2022062516/56812ad9550346895d8ebf73/html5/thumbnails/2.jpg)
August 2008EXECUTIVE SUMMARY
Saint Louis Public SchoolsAugust 2008 Monthly Financial
Report
![Page 3: FISCAL YEAR 2008-2009 Financial Report August 2008 Year To Date](https://reader036.fdocuments.in/reader036/viewer/2022062516/56812ad9550346895d8ebf73/html5/thumbnails/3.jpg)
August 2008EXECUTIVE SUMMARY
Saint Louis Public SchoolsAugust 2008 Monthly Financial
Report
![Page 4: FISCAL YEAR 2008-2009 Financial Report August 2008 Year To Date](https://reader036.fdocuments.in/reader036/viewer/2022062516/56812ad9550346895d8ebf73/html5/thumbnails/4.jpg)
August 2008EXECUTIVE SUMMARY
Saint Louis Public SchoolsAugust 2008 Monthly Financial
Report
![Page 5: FISCAL YEAR 2008-2009 Financial Report August 2008 Year To Date](https://reader036.fdocuments.in/reader036/viewer/2022062516/56812ad9550346895d8ebf73/html5/thumbnails/5.jpg)
August 2008EXECUTIVE SUMMARY
Saint Louis Public SchoolsAugust 2008 Monthly Financial
Report
![Page 6: FISCAL YEAR 2008-2009 Financial Report August 2008 Year To Date](https://reader036.fdocuments.in/reader036/viewer/2022062516/56812ad9550346895d8ebf73/html5/thumbnails/6.jpg)
August 2008EXECUTIVE SUMMARY
Saint Louis Public SchoolsAugust 2008 Monthly Financial
Report
![Page 7: FISCAL YEAR 2008-2009 Financial Report August 2008 Year To Date](https://reader036.fdocuments.in/reader036/viewer/2022062516/56812ad9550346895d8ebf73/html5/thumbnails/7.jpg)
August 2008EXECUTIVE SUMMARY
Saint Louis Public SchoolsAugust 2008 Monthly Financial
Report
![Page 8: FISCAL YEAR 2008-2009 Financial Report August 2008 Year To Date](https://reader036.fdocuments.in/reader036/viewer/2022062516/56812ad9550346895d8ebf73/html5/thumbnails/8.jpg)
August 2008EXECUTIVE SUMMARY
Saint Louis Public SchoolsAugust 2008 Monthly Financial
Report
![Page 9: FISCAL YEAR 2008-2009 Financial Report August 2008 Year To Date](https://reader036.fdocuments.in/reader036/viewer/2022062516/56812ad9550346895d8ebf73/html5/thumbnails/9.jpg)
![Page 10: FISCAL YEAR 2008-2009 Financial Report August 2008 Year To Date](https://reader036.fdocuments.in/reader036/viewer/2022062516/56812ad9550346895d8ebf73/html5/thumbnails/10.jpg)
August 2008EXECUTIVE SUMMARY
Saint Louis Public SchoolsAugust 2008 Monthly Financial Report
FISCAL YEAR 2008-2009Financial Report
August 2008 Year To Date
![Page 11: FISCAL YEAR 2008-2009 Financial Report August 2008 Year To Date](https://reader036.fdocuments.in/reader036/viewer/2022062516/56812ad9550346895d8ebf73/html5/thumbnails/11.jpg)
August 2008EXECUTIVE SUMMARY
Saint Louis Public SchoolsAugust 2008 Monthly Financial
Report
August 2008 Beginning Fund Balance (Unaudited) ($ 10,509)
APPROVED REVENUE BUDGET $324,973YTD REVENUES $ 23,851
APPROVED EXPENDITURE BUDGET $346,067YTD EXPENDITURES $ 23,855
JUNE 30, 2009 Projected Ending Fund Balance ($ 31,603)
![Page 12: FISCAL YEAR 2008-2009 Financial Report August 2008 Year To Date](https://reader036.fdocuments.in/reader036/viewer/2022062516/56812ad9550346895d8ebf73/html5/thumbnails/12.jpg)
August 2008EXECUTIVE SUMMARY
Saint Louis Public SchoolsAugust 2008 Monthly Financial
Report
• $346.1M - GOB Budget $476.3M - District Total Budget
• Total District Cash - $175.3M
• GOB Revenues in line with budget
• GOB Expenditure Variance AnalysisSalaries & Benefits – fewer FTEs (classroom teachers & administrators), delay in allocation of retirement expenses. Non-Payroll Expenditures – variances due to timing, additional expenditures for Early Retirement, Acuity Benchmark, and Long Range Plan.
YEAR-TO-DATE SUMMARY
![Page 13: FISCAL YEAR 2008-2009 Financial Report August 2008 Year To Date](https://reader036.fdocuments.in/reader036/viewer/2022062516/56812ad9550346895d8ebf73/html5/thumbnails/13.jpg)
August 2008EXECUTIVE SUMMARY
Saint Louis Public SchoolsAugust 2008 Monthly Financial
Report
CONCERNS AND RISKS
• State Tax Commission protested tax rulings
• Equitable distribution of funds to charter schools
• Charter School Enrollment
• Unanticipated expenditures
• Unforeseen expenditures/impact of using 07/08 actuals as 08/09 budget base
![Page 14: FISCAL YEAR 2008-2009 Financial Report August 2008 Year To Date](https://reader036.fdocuments.in/reader036/viewer/2022062516/56812ad9550346895d8ebf73/html5/thumbnails/14.jpg)
August 2008EXECUTIVE SUMMARY
* 08/09 Year End Projections assume no corrective action taken. Options are currently under review to mitigate potential deficit of $20M.
*
![Page 15: FISCAL YEAR 2008-2009 Financial Report August 2008 Year To Date](https://reader036.fdocuments.in/reader036/viewer/2022062516/56812ad9550346895d8ebf73/html5/thumbnails/15.jpg)
August 2008EXECUTIVE SUMMARY
* * 08/09 Year End
Projections assume no corrective
action taken to mitigate potential
deficit.
![Page 16: FISCAL YEAR 2008-2009 Financial Report August 2008 Year To Date](https://reader036.fdocuments.in/reader036/viewer/2022062516/56812ad9550346895d8ebf73/html5/thumbnails/16.jpg)
August 2008EXECUTIVE SUMMARY
![Page 17: FISCAL YEAR 2008-2009 Financial Report August 2008 Year To Date](https://reader036.fdocuments.in/reader036/viewer/2022062516/56812ad9550346895d8ebf73/html5/thumbnails/17.jpg)
August 2008EXECUTIVE SUMMARY
![Page 18: FISCAL YEAR 2008-2009 Financial Report August 2008 Year To Date](https://reader036.fdocuments.in/reader036/viewer/2022062516/56812ad9550346895d8ebf73/html5/thumbnails/18.jpg)
![Page 19: FISCAL YEAR 2008-2009 Financial Report August 2008 Year To Date](https://reader036.fdocuments.in/reader036/viewer/2022062516/56812ad9550346895d8ebf73/html5/thumbnails/19.jpg)
August 2008Second Budget Amendment
* 08/09 Year End Projections assume no corrective action taken. Options are currently under review to mitigate potential deficit of $20M.
![Page 20: FISCAL YEAR 2008-2009 Financial Report August 2008 Year To Date](https://reader036.fdocuments.in/reader036/viewer/2022062516/56812ad9550346895d8ebf73/html5/thumbnails/20.jpg)
August 2008Second Budget Amendment
* 08/09 Year End Projections assume no corrective action taken. Options are currently under review to mitigate potential deficit of $20M.
*
![Page 21: FISCAL YEAR 2008-2009 Financial Report August 2008 Year To Date](https://reader036.fdocuments.in/reader036/viewer/2022062516/56812ad9550346895d8ebf73/html5/thumbnails/21.jpg)
August 2008Second Budget Amendment
![Page 22: FISCAL YEAR 2008-2009 Financial Report August 2008 Year To Date](https://reader036.fdocuments.in/reader036/viewer/2022062516/56812ad9550346895d8ebf73/html5/thumbnails/22.jpg)
August 2008Second Budget Amendment
![Page 23: FISCAL YEAR 2008-2009 Financial Report August 2008 Year To Date](https://reader036.fdocuments.in/reader036/viewer/2022062516/56812ad9550346895d8ebf73/html5/thumbnails/23.jpg)
August 2008Second Budget Amendment
![Page 24: FISCAL YEAR 2008-2009 Financial Report August 2008 Year To Date](https://reader036.fdocuments.in/reader036/viewer/2022062516/56812ad9550346895d8ebf73/html5/thumbnails/24.jpg)
August 2008Second Budget Amendment
![Page 25: FISCAL YEAR 2008-2009 Financial Report August 2008 Year To Date](https://reader036.fdocuments.in/reader036/viewer/2022062516/56812ad9550346895d8ebf73/html5/thumbnails/25.jpg)
![Page 26: FISCAL YEAR 2008-2009 Financial Report August 2008 Year To Date](https://reader036.fdocuments.in/reader036/viewer/2022062516/56812ad9550346895d8ebf73/html5/thumbnails/26.jpg)
![Page 27: FISCAL YEAR 2008-2009 Financial Report August 2008 Year To Date](https://reader036.fdocuments.in/reader036/viewer/2022062516/56812ad9550346895d8ebf73/html5/thumbnails/27.jpg)
SLPS
Tax Increment Financing (TIF)
![Page 28: FISCAL YEAR 2008-2009 Financial Report August 2008 Year To Date](https://reader036.fdocuments.in/reader036/viewer/2022062516/56812ad9550346895d8ebf73/html5/thumbnails/28.jpg)
SLPSRS Worst Case Scenario
![Page 29: FISCAL YEAR 2008-2009 Financial Report August 2008 Year To Date](https://reader036.fdocuments.in/reader036/viewer/2022062516/56812ad9550346895d8ebf73/html5/thumbnails/29.jpg)
*Source: PSRS Investment “Flash” Report, dated 6/30/08 and PSN.
Past performance is not indicative of future performance.
A DEEPER LOOK AT EVALUATING INVESTMENT PERFORMANCE
Top performing money managers typically beat not only their comparative style index but also exhibit above median performance in their peer group for longer periods (i.e. 5 years+).
Active managers should not be expected to outperform in every month, quarter, or year. However, persistent underperformance (i.e. 5 years+) should warrant concern and a re-investigation of the manager’s process, philosophy and people.
As of 6/30/08, SLPSRS engaged 6 traditional managers with below-median peer returns for the trailing 5 years. These managers oversee a combined $197 million under management.* Three of the six underperformed more than 70% of their peers in that timeframe.
![Page 30: FISCAL YEAR 2008-2009 Financial Report August 2008 Year To Date](https://reader036.fdocuments.in/reader036/viewer/2022062516/56812ad9550346895d8ebf73/html5/thumbnails/30.jpg)
Six of the equity managers (totaling $197 million in assets) have below median performance for the 5 years ending 6/30/08.
Using only those manager’s returns and calculating the difference between their returns and the return of the median of each manager’s peer group, the dollar return differential was $9 million over 5 years.
WORST CASE SCENARIOS
*Source: PSRS Investment “Flash” Report, dated 6/30/08 and PSN.
Past performance is not indicative of future performance.
Buford, Dickson, Harper, Sparrow $21,256,989 Return amount below the median manager: ($1,000,932)
Monetary Management $61,125,673 Return amount below the median manager: ($487,443)
New Amsterdam Partners $33,350,246 Return amount below the median manager: ($825,460)
Edgar Lomax $30,415,669 Return amount below the median manager: ($2,527,300)
Systematic Financial $28,258,552 Return amount below the median manager: ($2,935,843)
Dimensional Fund Advisors $22,571,984 Return amount below the median manager: ($1,579,047)
Total Assets for Worst Case Managers $196,979,113 Combined amount below the median manager: ($9,356,025)
![Page 31: FISCAL YEAR 2008-2009 Financial Report August 2008 Year To Date](https://reader036.fdocuments.in/reader036/viewer/2022062516/56812ad9550346895d8ebf73/html5/thumbnails/31.jpg)
Quartile Report Slides
![Page 32: FISCAL YEAR 2008-2009 Financial Report August 2008 Year To Date](https://reader036.fdocuments.in/reader036/viewer/2022062516/56812ad9550346895d8ebf73/html5/thumbnails/32.jpg)
QUARTILE RANKING BAR
PSN LARGE CAP GROWTH
JUNE 30, 2003 TO JUNE 30, 2008
-20
-15
-10
-5
0
5
10
15
20
RA
TE
OF
RE
TU
RN
1 Year 3 Years 5 Years
HIGH (0.05) 6.74 13.04 14.79
FIRST QUARTILE -1.16 8.68 10.43
MEDIAN -4.64 6.58 8.76
THIRD QUARTILE -8.20 4.81 7.33
LOW (0.95) -13.00 2.10 5.24
MEAN -4.31 6.78 8.98
VALID COUNT 397 370 340
Buford Dickson Core Momentum Gr
Monetary Mgmt. LCG
INTECH Large Cap Growth
1 Year 3 Years 5 Years
VALUE RANK VALUE RANK VALUE RANK
-0.01 18 7.11 44 7.86 63
-2.20 33 5.62 64 8.63 52
-3.47 40 5.30 66 9.18 42
![Page 33: FISCAL YEAR 2008-2009 Financial Report August 2008 Year To Date](https://reader036.fdocuments.in/reader036/viewer/2022062516/56812ad9550346895d8ebf73/html5/thumbnails/33.jpg)
QUARTILE RANKING BAR
PSN MID CAP GROWTH
JUNE 30, 2003 TO JUNE 30, 2008
-25
-20
-15
-10
-5
0
5
10
15
20
25
RA
TE O
F R
ETU
RN
1 Year 3 Years 5 Years
HIGH (0.05) 7.14 16.54 18.14
FIRST QUARTILE 0.16 12.43 14.56
MEDIAN -4.94 10.05 13.18
THIRD QUARTILE -9.43 7.64 11.00
LOW (0.95) -15.27 3.83 7.54
MEAN -4.46 9.84 13.01
VALID COUNT 176 162 144
New Amsterdam Mid Cap Grow Act
1 Year 3 Years 5 Years
VALUE RANK VALUE RANK VALUE RANK
0.16 25 8.11 70 12.69 59
![Page 34: FISCAL YEAR 2008-2009 Financial Report August 2008 Year To Date](https://reader036.fdocuments.in/reader036/viewer/2022062516/56812ad9550346895d8ebf73/html5/thumbnails/34.jpg)
QUARTILE RANKING BAR
PSN LARGE CAP VALUE
JUNE 30, 2003 TO JUNE 30, 2008
-35
-30
-25
-20
-15
-10
-5
0
5
10
15
20
RA
TE
OF
RE
TU
RN
1 Year 3 Years 5 Years
HIGH (0.05) -3.57 10.76 14.85
FIRST QUARTILE -11.31 6.67 10.91
MEDIAN -15.14 5.00 9.61
THIRD QUARTILE -18.44 3.22 8.05
LOW (0.95) -27.24 -0.87 5.10
MEAN -15.03 5.05 9.57
VALID COUNT 369 352 307
Edgar Lomax Large Cap Value
Chicago Equity LgCap Value Xtnd
1 Year 3 Years 5 Years
VALUE RANK VALUE RANK VALUE RANK
-18.74 77 3.62 70 7.94 76
-17.06 62 4.64 53 9.98 42
![Page 35: FISCAL YEAR 2008-2009 Financial Report August 2008 Year To Date](https://reader036.fdocuments.in/reader036/viewer/2022062516/56812ad9550346895d8ebf73/html5/thumbnails/35.jpg)
QUARTILE RANKING BAR
PSN SMALL CAP VALUE
JUNE 30, 2003 TO JUNE 30, 2008
-35
-30
-25
-20
-15
-10
-5
0
5
10
15
20
25
RA
TE O
F R
ETU
RN
1 Year 3 Years 5 Years
HIGH (0.05) -5.01 12.20 18.45
FIRST QUARTILE -13.33 7.24 13.61
MEDIAN -18.28 4.20 12.09
THIRD QUARTILE -22.14 1.52 10.22
LOW (0.95) -29.44 -2.38 7.00
MEAN -17.67 4.38 12.24
VALID COUNT 247 235 213
Systematic Fin. SCV
1 Year 3 Years 5 Years
VALUE RANK VALUE RANK VALUE RANK
-18.35 50 6.30 33 9.92 80
![Page 36: FISCAL YEAR 2008-2009 Financial Report August 2008 Year To Date](https://reader036.fdocuments.in/reader036/viewer/2022062516/56812ad9550346895d8ebf73/html5/thumbnails/36.jpg)
QUARTILE RANKING BAR
PSN SMALL CAP CORE
JUNE 30, 2003 TO JUNE 30, 2008
-35
-30
-25
-20
-15
-10
-5
0
5
10
15
20
25
RA
TE O
F R
ETU
RN
1 Year 3 Years 5 Years
HIGH (0.05) -2.91 12.21 16.65
FIRST QUARTILE -12.96 6.86 13.09
MEDIAN -16.49 4.15 11.46
THIRD QUARTILE -19.20 2.40 10.28
LOW (0.95) -26.44 -1.29 7.56
MEAN -15.93 4.68 11.69
VALID COUNT 165 151 130
Russell 2000
1 Year 3 Years 5 Years
VALUE RANK VALUE RANK VALUE RANK
-16.19 45 3.79 60 10.29 74
![Page 37: FISCAL YEAR 2008-2009 Financial Report August 2008 Year To Date](https://reader036.fdocuments.in/reader036/viewer/2022062516/56812ad9550346895d8ebf73/html5/thumbnails/37.jpg)
![Page 38: FISCAL YEAR 2008-2009 Financial Report August 2008 Year To Date](https://reader036.fdocuments.in/reader036/viewer/2022062516/56812ad9550346895d8ebf73/html5/thumbnails/38.jpg)
NON GOB Financial SummaryAugust 2008 Monthly Financial
Report
![Page 39: FISCAL YEAR 2008-2009 Financial Report August 2008 Year To Date](https://reader036.fdocuments.in/reader036/viewer/2022062516/56812ad9550346895d8ebf73/html5/thumbnails/39.jpg)
NON GOB Financial SummaryAugust 2008 Monthly Financial
Report
CAPITAL FUNDS
A/C Fund Balance = $ 19,008,577 MDESEG Fund Balance = $ 99,600,771 M
![Page 40: FISCAL YEAR 2008-2009 Financial Report August 2008 Year To Date](https://reader036.fdocuments.in/reader036/viewer/2022062516/56812ad9550346895d8ebf73/html5/thumbnails/40.jpg)
NON GOB Financial SummaryAugust 2008 Monthly Financial
Report
DEBT SERVICE
![Page 41: FISCAL YEAR 2008-2009 Financial Report August 2008 Year To Date](https://reader036.fdocuments.in/reader036/viewer/2022062516/56812ad9550346895d8ebf73/html5/thumbnails/41.jpg)
NON GOB Financial SummaryAugust 2008 Monthly Financial
Report
FEDERAL FUNDS
![Page 42: FISCAL YEAR 2008-2009 Financial Report August 2008 Year To Date](https://reader036.fdocuments.in/reader036/viewer/2022062516/56812ad9550346895d8ebf73/html5/thumbnails/42.jpg)
NON GOB Financial SummaryAugust 2008 Monthly Financial
Report
FOOD SERVICE
![Page 43: FISCAL YEAR 2008-2009 Financial Report August 2008 Year To Date](https://reader036.fdocuments.in/reader036/viewer/2022062516/56812ad9550346895d8ebf73/html5/thumbnails/43.jpg)
NON GOB Financial SummaryAugust 2008 Monthly Financial
Report
TRUST & AGENCY