by John Beagle
Monroe receives $402,110 in Special Revenue Funds
Here is the breakdown:
Fund Name (Fund Number) Annual Revenues
Neediest Kids Of All (007) $460
Scholarship Funds (007) $6,000
Principal's Funds (018) $98,000
Miscellaneous Grant Funds (019) $35,000
District Athletic Fund (300) $216,850
Management Information System (432) $4,000
Entry Year Programs (440) $12,800
Data Communications (451) $12,000
Miscellaneous State Grants (499) $17,000
I asked Monroe Schools Treasurer, Kelley Thorpe, to provide additional details regarding these funds, here is the information she provided me.
Special Revenue Funds – these are mainly grant or donation based accounts.
1. The Neediest Kids of All is a Cincinnati-based organization similar to the MANY (Middletown Area Neediest Youth) in this area. They provide some funds to help purchase clothes and school items for low-income students.
2. Scholarship Funds – there are several of these. Most of these are set up for senior scholarships. The companies or organizations often write a check to the school; then once a student is selected, we write the check to the student. We need account numbers to track these.
3. The Principal’s funds are accounts that are funded through fundraisers throughout the year and the principals then have funds to purchase miscellaneous items that are not directly related to the education of students; i.e., certificates and other student awards.
4. The other special revenue accounts are either state or federal grant accounts for specific areas – such as Entry Year Programs. This grant helps to provide mentor teachers for first year teachers. Some of these grant accounts will change from year to year depending on whether or not the school is a multi-year recipient of the grant.
The Athletic Fund (300) shows a difference between anticipated revenues and expenditures as a result of reallocating where these funds should be expended. In the past, some athletic expenditures were budgeted for and paid out of the general fund. However, by accounting for these expenses in the general fund, these costs were then included in the calculation for Monroe’s Expenditures per Pupil on the state report card. I discovered this error and have moved these expenses to the 300 fund for next year in order to appropriately expend these costs where they belong. If the athletic department is unable to bring in enough revenue to cover all of their expenses during the year, then a transfer can be made from the general fund to support the athletic program, but this transfer is not included in the calculation for Exp per Pupil. By making this move, we will also be able to better track athletic receipts in comparison to their actual expenditures.