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Show ANNUAL I FINANCIAL STATEMENT BEAVER COUNTY SCHOOL DISTRICT For the Year Ending June 30, 1955 RECEIPTS Balance on hand July 1, 1954: Operating Fund $ (4,748.90) Building Reserve Fund 30,787.74 Total Balance on Hand July 1, 1954 $ 26,033.84 HeTenue Receipts: A. Federal Sources Vocational Education $ 1,143.91 Education of Veterans 490.78 Other Revenue Receipts from Federal Sources 873.23 Total Federal (excluding school lunch) 2,507.92 B. State Sources Vocational Education 105.34 Uniform School Fund - 148,354.44 Total State (excluding school lunch) 148,459.78 C. Local Sources Local tax for operation and maintenance 112,203.57 Local tax for capital outlay 12,015.87 Local tax for bond interest and redemption 15,019.84 Other revenue receipts from local sources .. 4,110.19 Total local (excluding school lunch) 143,349.47 D. Tuition from Veterans 4,938.50 E. School Lunch Federal Funds 3,860.58 State Funds 3,856.55 Sales of Lunches 11,933.20 Other Lunch Receipts 132.31 Total School Lunch 19,782.64 Non-Revenue Receipts: Insurance adjustments 616.20 TOTAL RECEIPTS, REVENUE AND NON-REVENUE NON-REVENUE $319,654.51 TOTAL RECEIPTS AND BEGINNING BALANCES, JULY 1, 1954 $345,693.35 EXPENDITURES Interest Paid I'So Interest Paid on Bonds Bond Expense TOTAL DEBT SERVICE $ 3,758.98 TOTAL EXPENDITURES $290,705 24 Balance on Hand June 30, 1955: Operating Cash $ (2,913.02) Building Reserve Fund 40,596,79 Bond Interest and Redemption .... 17,304.34 Total Balances on Hand June 30, 1955 $ 54,988.11 TOTAL PAYMENTS INCLUDING BALANCE OF JUNE 30, 1955 $345,693.35 ASSETS AND LIABI LIT! ES Assets: Sites and Buildings $674,604.00 Equipment 118,539.81 School Buses 10,330.98 Supplies on Hand 150.00 Textbooks 10,664.59 Cash Balances in All Funds 54,988.11 Reimbursable Funds Not Yet Received 463.01 TOTAL ASSETS $869,742.50 Liabilities: School Bonds Outstanding $ 58,000.00 Other Liabilities 3,429.87 Excess of Assess over Liabilities 808,312.63 TOTAL LIABILITIES $369,742.50 STATUS OF BUILDING RESERVE FUND Beginning Balance: Expenditures for Build-Cash Build-Cash $30,787.74 ing Improvements $ 2,206.82 Transfer from Current " Cash Balance at End Funds 12,015.87 of Year 40,596.79 TOTAL $42,803.61 TOTAL $42,803.61 BONDED INDEBTEDNESS Series Date Due Int. Rate Amount 1 Oct 1938 1 Oct. 1955 3.25 $ 7,000.00 1 Mar 1940 1 Mar 1956 3.25 8,000.00 1 Mar 1941 1 Mar 1957 3.00 8,000.00 1 May 1947 1 May 1956 2.50 5,000.00 1 Nov 1948 1 Nov 1958 3.25 6,000.00 1 Mar 1950 1 Mar 1960 2.75 7,000.00 1 Oct 1951 1 Oct 1961 2.75 7,000 00 15 Jun 1955 15 Jun 1965 3.00 10,000.00 TOTAL BONDS OUTSTANDING $58,000.00 General Control: Salary Expenses Total School Board $ 750.00 $ 424.52 $ 1,174.52 Superintendent of Schools 5600.00 1059.00 6,659.00 Clerk , 3666.60 208.79 3,875.39 Treasurer 100.00 100.00 Election 84.16 Legal Services 211.85 Telephone, Postage and Publications 668.13 TOTAL GENERAL CONTROL $12,773.05 Instruction: Salaries of Principals $ 21,926.00 Salaries of Supervisor 5,000.00 Teachers 142,881.29 Librarians 2,8iu 00 Guidance Counselors 1,350.00 Substitute Teachers 1,267.33 Clerical Assistants to Instructional Personnel 1,289.36 Textbooks 1,38.1.78 Library Books and Periodicals 755.51 Supplies 2,402.51 Miscellaneous expenses of instruction 1,141.07 TOTAL COST OF INSTRUCTION $182,248.85 Auxiliary Services: Health Services $ 958.86 Transportation: Bus Driver Salaries 3,870.00 Supplies and Other Expense 4,278.91 Insurance 602.09 Contracted Services 3,526.28 School Lunch Services 19,159.80 TOTAL COST OF AUXILIARY SERVICES $ 32,395.94 Operation of School Plant: Custodian Salaries $ 15,714.08 Fuel 5,857.33 Electricity, Water and Telephone 4,851.40 Supplies 876.87 TOTAL COST FOR OPERATION OF SCHOOL PLANT $ 27,339.68 Maintenance of School Plant: Expenses for Repairs of Buildings and Grounds $ 6,744.64 Expenses for Repairs to Equipment and Furniture .... 1,063.97 Total Maintenance of School Plant $ 7,808.61 Fixed Charges: Employers' contribution to Retirement Funds: State School Employees' Retirement System $ 7,749.20 Social Security 3,043.19 Insurance 2 354.42 Rental Refund ' 25.00 Collection of School Taxes 3,795.02 Total Fixed Charges $ 16,900.83 Veterans Program Expenses $ 3,)()8.71 Capital Outlay: Improvement of Buildings $ 2,206.82 Furniture and Equipment 1,297.77 TOTAL' CAPITAL OUTLAY $ 3,504.59 Debt Service: Redemption of Short-term loans $ 364.07 |