• (Published in the Saturday edi...

(Published in the Saturday edition of The Duncan Banner, September 16, 2017 - 1 time)
FINANCIAL STATEMENT OF THE VARIOUS FUNDS FOR THE FISCAL YEAR ENDING JUNE 30,
2017 AND ESTIMATE OF NEEDS FOR
FISCAL YEAR ENDING JUNE 30, 2018 OF BRAY-DOYLE PUBLIC SCHOOLS
SCHOOL DIST. NO. I-42, STEPHENS COUNTY,OKLAHOMA

GENERAL BUILDING NUTRITION
STATEMENT OF FINANCIAL CONDITION FUND Detail FUND Detail FUND Detail
AS OF JUNE 30, 2017
ASSETS:
Cash Balance June 30, 2017 $ 925,269.79 $ 191,649.95$ 48,956.28
TOTAL ASSETS: $ 925,269.79 $191,649.95$ 48,956.28
LIABILITIES AND RESERVES:
Warrants Outstanding $ 178,382.27$ 49,283.54$ 0.00
Reserves From Schedule 8 $ 596.90$ 0.00$ 0.00
TOTAL LIABILITIES AND RESERVES $ 178,979.17$ 49,283.54$ 0.00
CASH FUND BALANCE (Deficit) JUNE 30, 2017$ 746,290.62 142,366.41$ 48,956.28

ESTIMATED NEEDS FOR FISCAL YEAR ENDING JUNE 30, 2018

GENERAL FUND
Current Expense $ 4,563,821.4416. Total Items g Through i$ 398,787.50
Total Required $ 4,563,821.4417. Excess of Assets over Accural Reserves (page 2) (376,686.32)
FINANCED:SINKING FUND REQUIREMENTS FOR 2017-2018
Cash Fund Balance $ 746,290.621. Interest Earnings on Bonds $ 39,787.50
Estimated Misc. Revenue $ 1,263,243.172. Accrual on Unmatured Bonds $ 326,000.00
Total Deductions $ 2,009,533.798. Annual Accrual from Exhibit KK 1,697.31
Balance to Raise from Ad Valorem Tax$ 2,554,287.65Total Sinking Fund Requirements $ 367,484.81
Deduct:
ESTIMATED MISCELLANEOUS REVENUE:1. Excess of Assets over Liabilities ($376,686.32)
2100 County 4 Mill Ad Valorem Tax $ 66,376.90Balance To Raise $ 744,171.13
2200 County Apportionment (Mortgage Tax) $ 7,634.3915d l. Whatever Remains is for Exhibit KK Line E 387,736.91
3110 Gross Production Tax $ 156,363.7616d Deficit as Shown on Sinking Balance Sheet 11,050.59
3120 Motor Vehicle Collections$ 125,188.3017d Less Cash Requirements for Current Fiscal Year in Excess of Cash on Hand (From Line 15d above) 387,736.91
3130 Rural Electric Cooperative Tax$ 146,456.3118d Remaining Deficit is for Exhibit KK Line F (376,686.32)
3140 State School Land Earnings$ 50,603.86BUILDING FUND
3150 Vehicle Tax Stamps $ 220.52Current Expense $ 507,440.16
3200 State Aid - General Operations$ 589,423.32Total Required $ 507,440.16
3800 State Vocational Programs $ 23,962.50FINANCED:
4200 Disadvantaged Students 66,530.33Cash Fund Balance $ 142,366.41
4300 Individuals with Disabilities $ 30,482.98Total Deductions $ 142,366.41
Total Estimated Revenue 1,263,243.17Balance to Raise from Ad Valorem Tax $ 365,073.75
SINKING FUND BALANCE SHEET
1. Cash Balance on Hand June 30, 2017 $ 387,736.91CHILD NUTRITION PROGRAMS FUND
4. Total Liquid Assets $ 387,736.91 Current Expense $ 171,741.52
Total Required $ 171,741.52
Deduct Matured Indebtedness:FINANCED:
12. Balance of Assets Subject to Accrual$ 387,736.91Cash Fund Balance $ 48,956.28
Deduct Accrual Reserve if Assets Sufficient
13. g. Earned Unmatured Interest $ 6,787.50Estimated Miscellaneous Revenue 122,785.24
15. i. Accrued on Unmatured Bonds $ 392,000.00Total Deductions 171,741.52

CERTIFICATE – GOVERNING BOARD
STATE OF OKLAHOMA, COUNTY OF STEPHENS, ss:
We, the undersigned duly elected, qualified and acting officers of the Board of Education of Bray-Doyle Public Schools, School District No. I-42, of Said County and State, do hereby certify that at a meeting of the Governing Body of the said District, begun at the time provided by law for districts of this class and pursuant to the provisions of 68 O.S. 2001 Sec. 3003, the foregoing statement was prepared and is a true and correct condition of the Financial Affairs of said District as reflected by the records of the District Clerk and Treasurer. We further certify that the foregoing estimate for current expenses for the fiscal year beginning July 1, 2017, and ending June 30, 2018 as shown are reasonably necessary for the proper conduct of the affairs of the said Municipality, that the Estimated income to be derived from sources other than ad valorem taxation does not exceed the lawfully authorized ratio of the revenue derived from the same sources during the preceding fiscal year.
/s/ Brian Bearce, President of Board of Education
Subscribed and sworn to before me this 11th day of September, 2017
/s/Deborah S. Fletchall, Notary Public, 06/15/21 #17005611
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PostedSeptember 16, 2017