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Medway Public Schools�Athletic FY20 Financial Update�Don Aicardi, Director of Finance� Jeff Parcells, Director of Athletics

December 12, 2019

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Medway Public Schools�Athletic FY20 Financial Update

How does the Medway Public Schools fund Athletics?

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Medway Public Schools�Athletic FY20 Financial Update

Funding comes from two sources:

1. Annual Operating Budget

2. Fund 2561: Athletic Revolving Fund

Total FY19 Expenditures: $691,755

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Medway Public Schools�Athletic FY20 Financial Update

What expenses get funded from which source?

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Medway Public Schools�Athletic FY20 Financial Update�

$394,818 for Athletics was expended from Section 3510 of the Operating

Budget in FY19

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Medway Public Schools�Athletic FY20 Financial Update

Annual Operating Budget:

  • Athletic Director & Athletic Trainer
  • Middle School Coaches
  • High School Coaches
  • AD Clerical Support
  • Sports Supplies/Equipment

(new in FY20)

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Medway Public Schools�Athletic FY20 Financial Update�

Revolving Fund Expenses:

  • Officials & Game Management
  • Transportation
  • Police Details
  • Supplies
  • Equipment
  • Rink Rentals
  • Membership
  • Custodial Overtime

$296,937 expended from Revolving Fund in FY19

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Medway Public Schools�Athletic FY20 Financial Update

How does revenue get into the Revolving Fund?

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Medway Public Schools�Athletic FY20 Financial Update

Revenue Into Revolving Fund:

1. Gate Receipts $35,558 (13%)

2. Athletic Fees (Paid by Families)

$232,626 (83%)

3. Donations $11,100 (4%)

$279,284 in FY19 Total

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FY

Fee

FY’10

$225

FY’11

$235

FY’12

$235

FY’13

$235

FY’14

$235

FY’15

$235

FY’16

$235

FY’17

$235

FY’18

$235

FY’19

$235

FY’20

$235

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Medway Public Schools�Athletic FY20 Financial Update

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�Medway Public Schools�Athletic FY20 Financial Update�

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Revolving Fund

%

Operating Budget %

FY12

55%

45%

FY13

58%

42%

FY14

49%

51%

FY15

48%

52%

FY16

47%

53%

FY17

49%

51%

FY18

41%

59%

FY19

43%

57%

�% of Expenses Paid By Fund (Revolving vs. Operating Budget):�

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Medway Public Schools�Athletic FY20 Financial Update

What is the status of the Athletic

Revolving Fund Balance?

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FY

Medway

FY’12

$2,835

FY’13

$9,057

FY’14

$15,832

FY’15

$6,807

FY’16

$4,503

FY’17

$11,354

FY’18

$22,567

FY’19

$4,914

Fund 2561: School Athletic Revolving Fund Balances

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Medway Public Schools�Athletic FY20 Financial Update

From the April, 2019 Presentation:

If the estimates of revenues and expenditures are accurate, strong likelihood of Athletic Revolving Fund balance being very close to $0 or slightly in deficit by the close of FY20.

It will be closely monitored.

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Medway Public Schools�Athletic FY20 Financial Update

Based on trends that we are seeing,

we recommended that $15,000

be added within the FY20 General Fund Operating Budget to improve the finances of the Athletic Revolving Fund by the close of FY20.

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Medway Public Schools�Athletic FY20 Financial Update

What are some challenges that we have seen so far during the FY20 budget year for the Revolving Fund?

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  • Drop in Students Participating in Athletics
  • EEE Virus Threat lead to rescheduling times of games, which suppressed gate receipts
  • RF Fund Balance To Begin Fiscal Year

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Medway Public Schools �Athletic FY20 Financial Update

FY21 Medway Public Schools Budget Presentation, which will include the Athletic Budget, will occur in February, 2020.

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Medway Public Schools�Athletic FY21 Forecasting

FY21 Challenges-both Revolving Fund and Operating Budget?

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  • Overall drop in Participation in Athletics (Decreasing overall student population and student athlete participation decline)
  • Uniform Replacement/Supplies
  • Potential Expenses Shift From Revolving Fund to General Fund Budget

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Medway Public Schools �Athletic FY20 Financial Update

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Questions & Comments

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