Acton-Boxborough Regional School District Reconciliation of the Statement Of Revenues, Expenditures, and Changes in Fund Balances of Governmental Funds to the Statement of Activities Year Ended June 30, 2024
Governmental funds – statement of revenues, expenditures and changes in fund balances Formerly Formerly Major Fund Major Fund Douglas/Gates Nonmajor Total Federal and Community School Governmental Governmental General State Grants Education Construction Funds Funds REVENUES: Member town assessments…………………………………………………$ 85,614,057 $ - $ - $ - $ - $ 85,614,057 Intergovernmental………………………………………………………… 18,796,698 - - 1,122,897 9,874,012 29,793,607 Departmental and other…………………………………………………… - - - - 6,046,416 6,046,416 Contributions and donations……………………………………………… - - - - 288,696 288,696 Food services……………………………………………………………… - - - - 771,803 771,803 Intergovernmental - Teachers Retirement………………………………… 14,584,205 - - - - 14,584,205 Investment income………………………………………………………… 771,548 - - - 2,628 774,176 Miscellaneous revenue…………………………………………………… 23,386 - - - 159,401 182,787 TOTAL REVENUES………………………………………………… 119,789,894 - - 1,122,897 17,142,956 138,055,747 EXPENDITURES: Current: District administration…………………………………………………… 3,446,770 - - - 47,925 3,494,695 Instructional leadership………………………………………………… 6,347,536 - - - 6,349 6,353,885 Classroom and specialist teachers……………………………………… 48,911,462 - - - 1,171,499 50,082,961 Professional development……………………………………………… 82,608 - - - 314,276 396,884 Instructional materials, equipment, and technology…………………… 1,391,053 - - - 492,024 1,883,077 Pupil transportation services…………………………………………… 4,070,334 - - - 1,407,898 5,478,232 Operations and maintenance…………………………………………… 6,101,581 - - - 122,627 6,224,208 Guidance, counciling and testing……………………………………… 3,990,136 - - - 241,753 4,231,889 Other school services…………………………………………………… 3,031,921 - - - 3,125,216 6,157,137 Food services…………………………………………………………… - - - - 4,115,530 4,115,530 Out of district tuition…………………………………………………… 3,265,263 - - - 5,404,777 8,670,040 Community education…………………………………………………… - - - - 1,146,918 1,146,918 Employee benefits……………………………………………………… 17,335,448 - - - 62,234 17,397,682 Pension benefits - teachers' retirement…................................................ 14,584,205 - - - - 14,584,205 Insurance………………………………………………………………… 347,892 - - - 40,734 388,626 Capital outlay…………………………………………………………… 1,241,007 - - 3,476,786 920,225 5,638,018 Debt service: Principal payments on right to use lease………………………………… 559,013 - - - - 559,013 Interest payments on right to use lease………………………………… 299,114 - - - - 299,114 Principal………………………………………………………………… 3,720,000 - - - - 3,720,000 Interest………………………………………………………………… 2,373,556 - - - - 2,373,556 TOTAL EXPENDITURES…………………………………………… 121,098,899 - - 3,476,786 18,619,985 143,195,670 EXCESS (DEFICIENCY) OF REVENUES OVER (UNDER) EXPENDITURES……………………………………… (1,309,005) - - (2,353,889) (1,477,029) (5,139,923) OTHER FINANCING SOURCES (USES): Lease financing…………………………………………………………… 772,193 - - - - 772,193 NET CHANGE IN FUND BALANCES…...................................................... (536,812) - - (2,353,889) (1,477,029) (4,367,730) FUND BALANCES, 06/30/2023, AS PREVIOUSLY REPORTED ………… 5,799,329 2,504,153 276,219 (394,335) 4,718,596 12,903,962 ADJUSTMENT - CHANGE FROM MAJOR TO NONMAJOR FUND……… - (2,504,153) (276,219) - 2,780,372 - FUND BALANCES, 06/30/2023, AS ADJUSTED……………………..…… 5,799,329 - - (394,335) 7,498,968 12,903,962 FUND BALANCES AT END OF YEAR…………………………………… $ 5,262,517 $ - $ - $ (2,748,224) $ 6,021,939$ 8,536,232
See notes to basic financial statements. 21
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