Early Learning Coalition of Broward County, Inc. Finance ... MTG Packet... · Early Learning...

Early Learning Coalition of Broward County, Inc.

Finance Committee Meeting Agenda 6301 NW 5th Way, Suite 3400,

Fort Lauderdale, FL 33309

Wednesday, January 25, 2017 4:00 pm

Members are reminded of conflict of interest provisions. In declaring a conflict, please refrain from voting or discussion and declare the following information: 1) Your name and position on the Board, 2) The nature of the conflict and 3) Who will gain or lose as a result of the conflict. Please also fill out form 8B prior to the meeting.

I.

II.

Call to Order

Roll Call

Renee Podolsky, Finance Chair

Irene Ramos, Executive Assistant

III.

Approval of Minutes a. Approve November 30, 2016 Finance

Committee Minutes

(Tab 1) pgs. 3 - 5

Renee Podolsky, Finance Chair

V.

Finance Report

a. Finance Report Cover b. Utilization c. Data Dashboard d. Review of the interim financial statements

dated August 31, 2016 (updated to remove errors found in the report, previously approved at the 10/26 Finance Committee Meeting); pending the annual audit performed by a qualified independent certified public accounting firm.

e. Review of the interim financial statements dated September 30, 2016 pending the annual audit performed by a qualified independent certified public accounting firm.

f. Review of the interim financial statements dated October 31, 2016 pending the annual audit performed by a qualified independent certified public accounting firm.

g. Review of the interim financial statements dated November 30, 2016 pending the annual audit performed by a qualified independent certified public accounting firm.

h. Discussion and feedback from Board about financial statement preferences going forward

i. Initial Administrative Department Assessment

(Tab 2) pgs. 6 (Tab 3) pgs. 7 - 8 (Tab 4) pgs. 9 - 15

(Tab 5) pgs. 16 - 25 (Tab 6) pgs. 26 - 35

(Tab 7) pgs. 36 - 45 (Tab 8) pgs. 46 - 55

(Tab 9) pgs. 56 - 59

Christine Klima, CAO Reinier Potts, Financial Analyst

Christine Klima, CAO

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VII. Unfinished Business New Business Matters from the Board Matters from the CEO Public Comment Next Meeting: February 22, 2017 Adjourn

Please Note: Agenda subject to revisions and additions per the discretion of the Chair of the Coalition. Notification will be sent of any such revisions or additions. Members of the Public: Please sign up at the entry desk for public comments to be made on particular agenda items no later than five minutes after the Coalition meeting has been called to order.

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Early Learning Coalition of Broward County Finance Committee Meeting Minutes

November 30, 2016 – 4:30 pm 6301 NW 5th Way, Suite 3400, Fort Lauderdale, FL 33309

Members in Attendance: Laurie Sallarulo, Cindy Arenberg Seltzer via phone, Renee Podolsky, Deborah Hosey

Members Absent: Nicholas Kaniaris, Jeff Dwyer

Staff in Attendance: Renee Jaffe, Leticia Strasser, Carmen Nicholas, Gordia Ross, Sandra Paul, Doreen Moskowitz, Renier Potts, Hubert Cesar, Irene Ramos, Janice Carter,

Others in Attendance: Jacob Jackson/General Counsel, Michele Rosiere, Cristy Kozla, Natasha Markman (from sign-in sheet)

Item Follow-up

Welcome & Call to Order

Renee Podolsky called the meeting to order at 4:25 pm Self-introductions were made. A quorum was established.

Minutes Renee Podolsky requested a motion to approve the October 26, 2016 Meeting Minutes. Motion made by Laurie Sallarulo to approve the October 26, 2016 meeting minutes. Motion Seconded by Cindy A. Seltzer. Unanimously Approved.

TAB 1

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Utilization Report

Renee reported to the Finance Committee that while we last reported to have a deficit of approximately $200k the legislative budget committee passed $20M state wide for all the coalitions. The ELC of Broward was awarded 2.1 million. The ELC of Broward is no longer in a deficit.

The State has allocated how much has to be used for what purpose therefore, $1.7 million needs to be used for Slots but ELC Broward has decided to put more towards Slots. This is not recurring money and so we came up with a 2 year plan that maps out how we should go forward. At this time, the State funding is a 1 year commitment. Renee reported comparison of months from June to October. In June, the total amount of children enrolled was 6K and maintained stability up until October. The October Utilization report reflected children no longer in the system. We are waiting on November numbers to see if it is a trend but anticipating on January enrollment. The new enrollment goal is 210 students/children to enroll in January.

VPK Utilization Renee reported about the State funded VPK program and that each provider is paid for 2.5 hours a day. VPK program is prescribed at 540 instructional hours for each student.

Financial Statement Financials Motions Laurie Sallarulo asked for Motion to be tabled until the reports are reviewed and recalculated. Reiner was not at the meeting to clarify the results.

Motion made by Laurie Sallarulo to table the statements of the reports. Motion Seconded by Deborah Hosey. Unanimously Approved.

Reiner Potts to review reports

Unfinished Business None

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New Business

None to comment

Matters from the Committee

No matters from the committee

Matters from the CEO

Public Comment None to comment

Next Meeting Date

January 25, 2016

Adjourn

Meeting was adjourned at 5:16 pm with Motion made by Cindy Arenberg Seltzer and Seconded by Renee Podolsky.

These minutes contain the action items of the meeting of the Executive Committee of the Early Learning Coalition. They do not include all the Committee’s discussions or comments on each matter or issue raised during the meeting. A tape recording of the meeting is held in the Coalition office. Corrections from the Committee will be taken prior to approval at the next meeting. These minutes submitted by Joyce Purchas/Irene Ramos

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Interim Financial Statements Utilization Report and Projections

Interim Financial Statements for the months of September, October and November 2016 are attached for your review and approval. Updated financial statements covering the month of August are also attached with corrections to the Monthly Budget to Actual report (noted in blue) that were made at the request of the Executive Committee in November 2016.

In addition to the financial statements, a plan to expend a one-time award from OEL for $2.1M over a two-year period by enrolling new children in January-February 2017 is enclosed with corrections and updates subsequent to feedback received at the December 9, 2016 Board meeting.

The November Monthly Utilization Report is also included.

Beginning in January 2017, ELC staff will work with the Finance Committee to review the financial statement and utilization package format overall and identify ways to improve clarity and content going forward. ELC staff have already begun the process of analyzing and modifying how financial and other data is recorded and tracked to improve the transparency, accuracy and timeliness of presentation to the Board. A summary of initial findings and suggested remedies is attached at the end of this packet.

A summary of the major financial highlights of the November Statements include:

Revenues:

• As of November 30, 2016 ELC has earned approximated $37.7M in totalrevenue, which is 40% of the total annual budget and nearly on pace with theexpected quarter end rate of 42%.

• OEL State/Federal-CCEP revenues are below target at 30% because matchingfunds from the County that would normally be designated for the first quarterof the ELC fiscal year were applied to the prior year in order to cover anunexpected deficit. For the remainder of the year ELC anticipates enrollmentsto increase significantly in the third and fourth quarters based on newcommitments received from providers and OEL has approved an additionalfunding request but the final amount awarded remains pending.

• Children’s Services Council revenues are also below target at 26% becausefunds normally designated for the first quarter of the ELC fiscal year wereapplied to the prior year in order to cover an unexpected deficit. Revenues havebegun to ramp up for FY17with the start of new CSC contract year beginningOctober 1, 2016 as the revenue earning pattern returns to normal.

Expenditures:

• Overall expenditures are on pace with revenues with a year to date actual of$37.1 million at the quarter end with program services and administrationexpenditures at 37% and 40% respectively.

TAB 2

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Total Actual/Projected Expenditures

Children Days of Total Less Less Net Billable Served Care Slot Cost Gold Seal Match to OEL

Total Projected Costs 2016-2017 Recap OEL Funding 8,572 261 18.25$ 40,827,644$ -$ Projected 2,863,161$ 37,964,483$ Projected Actual

Budget Amount (includes Gold Seal) 37,963,775$ BudgetNovember Surplus/(Deficit) (707)$

Total Projected Costs CSC Oct 2016 -June 2017 Recap 684 261 19.45$ Projected 3,473,920$ Projected Actual

Budget 4,517,851$ BudgetNovember Surplus/(Deficit) 1,043,930$

Total Projected Over/Under all funding 1,043,223$ Total Actual/Projected Expenditures

Children Total SR & CSC CSC SRDays of Served Total Total Total Less Net

Month Care Actuals in Blue Per Day Slot Cost Slot Cost Slot Cost Match Billable July-16 21 Actual 9,199 9,287 -88 19.60$ $3,785,887 $0 $3,785,887 $3,487,528 $298,359 $107,059 $3,678,827

August-16 23 Actual 9,353 9,321 32 18.01$ 3,874,400 $0 3,874,400 $3,646,438 $227,962 99,721 3,774,679 September-16 22 Actual 9,129 9,682 -553 17.67$ 3,549,667 $12,904 3,536,763 $3,743,577 -$193,910 114,067 3,435,601

October-16 21 Actual 9,055 9,137 -82 17.92$ 3,407,590 $331,110 3,076,480 $3,432,740 -$25,150 246,281 3,161,308 November-16 22 Actual 8,980 9,062 -82 17.94$ 3,544,141 $351,777 3,192,364 $3,559,917 -$15,776 235,194 3,308,947 December-16 22 Projected 8,988 18.22$ 3,601,889 345,317 3,256,572 241,663 3,360,226 January-17 22 Projected 9,198 17.91$ 3,624,559 345,317 3,279,242 245,308 3,379,251 February-17 20 Projected 9,293 17.88$ 3,322,703 313,924 3,008,779 223,648 3,099,055

March-17 23 Projected 9,293 18.01$ 3,849,607 430,552 3,419,055 314,751 3,534,856 April-17 20 Projected 9,301 17.94$ 3,336,932 357,177 2,979,755 273,927 3,063,005 May-17 23 Projected 9,301 19.51$ 4,173,709 496,174 3,677,535 381,662 3,792,047 June-17 22 Projected 9,301 20.67$ 4,230,481 489,668 3,740,813 379,880 3,850,601

9,197 Priority 8,939 Total Projected Costs $41,438,403

3 Budget Amount (includes Gold Seal) 42,481,626$ 6 November Surplus/(Deficit) 1,043,223$ 8

Grand Total

Assumptions: Includes additional $1.8 M in OEL slot dollars$1.1M CSC funds to be spent in 12 monthFY18 instead of FY17 as previously Forecast

210 off Waitlist in Jan95 off Waitlist in Feb

Replace any drops in enrollment between Feb 2017 & Jun 2017 to remain flatDaily Average Cost increased to reflect current actual trends.

Net Change Variance Actual vs Projection

TOTAL Average Cost Per Day

SR SLOT UTILIZATION FY 2016‐2017

Net Change Variance Actual vs. Projection

REVISED TO INCLUDE ADDITIONAL $1.8 MILLION

9853443

Actual Unduplicated/ Projected

Average Cost Per Day

284456

To be used 1st Q FY 2018

WAIT LISTCount of Priority

TAB 3

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Early Learning Coalition of Broward CountyAdditional Slot Dollars from OEL FY16-17

Additional OEL Award 2,123,416$ ( a )Slot Revenue:

Slot Dollars Required by OEL 78.00% 1,724,544 ( b )

Additional Slot Dollars Included by ELC 0.23% 102,324 ( c )

New Slot Dollars Total 78.23% 1,826,868$ ( d )=( b )+( c )

Slot Dollar Expenses:Quarter 1 FY 18 (Offsets Accelerated use of CSC funds in FY17) (372,186)$ per month for 3 months July, Aug, Sep, 2018 (See Schedule Below) * 1,116,558$ ( e )

Est Deficit on Sept 30th Utilization 112,899 ( f )

Average Daily Cost Adjustment 9,264 X Children 195 X Days 0.0880$ /Day = 158,880 ( g )

Net for Slots FY17 Required 161 X Children 132 X Days 15.82$ /Day = 336,207 ( h )

Additional Slot Dollars 49 X Children 132 X Days 15.82$ /Day = 102,324 ( i )

Revised Net for Slots FY17 210 X Children 132 X Days 15.82$ /Day = 438,530 ( j ) = ( h ) + ( i )

Total Slot Dollars Total Expense 78.23% 1,826,868$ (k ) = ( e )+( f )+( g )+( j )

New Projected Surplus Nov Utilization: 95 X Children 108 X Days 14.92$ /Day = 153,079$ Updated 1/17

Total New Children January & February: 305

5

Days of Daily Cost Children Total Children Total Children TotalYear Month Care of Care Served Slot Cost Served Slot Cost Served Slot Cost2016 July 21 20.31 ‐ ‐ ‐2016 August 23 19.31 ‐ ‐ ‐2016 September 22 19.31 27 12,904 27 12,904 2016 October 21 16.40 1,453 500,550 1,093 376,488 2016 November 22 16.40 1,387 500,550 1,044 376,488 2016 December 22 16.40 1,387 500,550 938 376,488 2017 January 22 16.40 1,387 500,550 938 376,488 2017 February 20 16.40 1,526 500,550 1,079 376,488 2017 March 23 16.40 1,327 500,550 877 376,488 2017 April 20 16.40 1,526 500,550 1,079 376,488 2017 May 23 16.65 1,307 500,550 838 376,488 2017 June 22 17.43 1,305 500,550 846 376,488 2018 July 21 20.31 ‐ 873 372,186 2018 August 23 19.31 ‐ 838 372,186 2018 September 22 19.31 ‐ 876 372,186

Projected 4,517,851 3,401,292 1,116,558 Budget 4,517,850 4,517,850 Over/Under (1) 1,116,558

Total Projected Costs 10/15 ‐ 6/16 July ‐ Sept ‐ 372,186 Per Month

Assumes all drops replaced from Feb 2017 to keep enrollment flat.

January 2017 Enrollment - 210 Children

February 2017 Enrollment - 95 Children

* CSC8 Annualization Detail for $1.1 Million

Original FY17 Forecast Revised FY17 Forecast Revised FY18 Forecast

Initial Projection Using September 2016 Utilization

Additional Enrollement Based on November 2016 Utilization

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Data Dashboard - FY16-17 TAB 4NOVEMBER 2016 Data

School Readiness

8,980*unduplicated count of SR children

served NOVEMBER

3,544,141$ SR funds paidNOVEMBER

$394.67cost per SR child served

NOVEMBER

6%

11%

16%

17%15%

3%

30%

2%

Dollars Paid by Care Level/Age

$222,310

$401,938

$572,630

$616,676

$518,490

$103,790

$1,048,033

$60,274

MonthlyChart 4

Total: $3,544,141

SCHOOL- AGE

SPECIAL NEEDS INFANT

TODDLER

2YR

3YR4YR

5YR

403

843

1,244

1,457

1,464

343

3,602

107

0 - 11 Months (INF)

12 - 23 Months (TOD)

24 - 35 Months (2YR)



60 - 72 months (5YR)

School Age

Special Needs Care

Children Paid by Care Level/Age

MonthlyChart 3

8,500

8,700

8,900

9,100

9,300

9,500

9,700

9,900

10,100

10,300

Jul-16 Aug-16 Sep-16 Oct-16 Nov-16 Dec-16 Jan-17 Feb-17 Mar-17 Apr-17 May-17 Jun-17

FY16-17 Actual Paid 9,199 9,353 9,129 9,055 8,980

Slot Target 9,287 9,321 9,682 9,137 9,062 8,988 9,198 9,293 9,293 9,301 9,301 9,301

SR Children Paid vs. Slot Target Chart 1 Monthly

*Unduplicated Count:8,980

*Unduplicated Count means each child is counted one time only. A child may move between care levels and/or funding categories but that child is not counted again as another child. For example, a child can be counted in the At-Risk category and then move into the Income Eligible category during the same time period. However, the child is only counted once in the unduplicated count for that period.

17%

7%

4%

12%56%

4%

School-Age Children by Dollars/Funding

$177,465

$70,827

$41,357

$130,750

$589,750

$37,884

BG8 = 2,078

BG1 = 588

BG3 = 271

BG3R = 133

BG5 = 459

CCEP = 138

Total: $1,048,033

Chart 2 Monthly

*Unduplicated CountSchool Age: 3,602

BG1 - At Risk; BG3 - Tanf Temporary Cash Assistance; BG3R - Tanf At-Risk Relative Caregiver; BG5 - Tanf Transitional Child Care; BG8 - Income Eligible; CCEP - Child Care Executive Partnership - Income Eligible

Page 1 of 59

Data Dashboard - FY16-17 NOVEMBER 2016 Data School Readiness

Definitions:BG1: At-Risk Populations. Child in a family that is: referred for investigation by Broward Sherriff's Office (BSO); under the supervision of ChildNet (in home, foster care or relative placement); in the custody of a parent who is homeless, as verified in law; in the custody of a parent who is the victim of domestic violence, residing in a certified DCF shelter or; family actively participating in a diversion program, as required in law.BG3: Families who are receiving Temporary Cash Assistance (TCA), and subject to the federal work requirements. TCA is also referred to as Temporary Assistance for Needy Families (TANF).BG3R: Child who is in receipt of the Relative Caregiver (RCG) payment, who is adjudicated by a Florida court and placed in the home of a relative through ChildNet.BG5: Family that is transitioning from the receipt of TCA (from a workforce program) into employment, as defined by law. BG8: Income Eligible. Family that is economically disadvantaged. Parent must meet income and work requirements, which include employment, educational activities or disability.CCEP: Child Care Executive Partnership. This program provides a dollar for dollar match from employers, local government and other contributions to offer subsidies to economically disadvantaged families. Income and work requirements apply.NOTE: Variances can occur within billing groups which may not be fully detailed. CSC: Children’s Services Council. Eligibility mirrors the Income Eligible (BG8) criteria. Other conditions may be set by CSC, on an as needed (case by case) basis. BGCSD/O/Q: Contracted Slots - This program provides SR children with a steady, high quality learning environment while also providing incentives and financialstability to Providers serving income eligible and at-risk populations and participating in quality improvement activities.

26%

2%

8%

14%

28%

10%

10% 2%

Percentage of Children Paid in Various Categories during the month

BG1 $910,663

BG3R $74,014

BG3 $292,365

BG5 $487,178

BG8 $980,095

CCEP $360,327

CSC $351,777

BGCSD/O/Q $87,722

CSC: 830 = 10% Income Eligible and SSI BG1: 2,105 = 26%

At-Risk Populations served by BSO, ChildNet, Homeless , Domestic Violenceand Diversion Agencies

BG8: 2,991 = 28% Income Eligible and SSI

CCEP: 913 = 10% Child Care Executive Partnership

BG5: 1,251 = 14% TANF, TCC employed Parentstransitioning off from cash assistance

BG3: 795 = 8% TANF, TCA, Active cash assistance recipient

NOVEMBER Dollars Expended: $3,544,141

Chart 5

*Unduplicated Count: 8,980

BG3R: 202 = 2%Relative Care Giver

BGCSD/O/Q: 98 = 2% Contracted Slots

At-RiskCareerSource

IncomeEligible

Contracted Slots

Unduplicated Count 2,297 1,966 4,710 98

Net Cost $984,677 $779,543 $1,692,199 $87,722

2,297 1,966 4,710 98

$984,677

$779,543

$1,692,199

$87,722

0

200,000

400,000

600,000

800,000

1,000,000

1,200,000

1,400,000

1,600,000

1,800,000

Children and Dollars by Categories

Monthly

can be counted in the At-Risk category and then move into the Income Eligible category during the same time period. However, the child is only counted once in the unduplicated count for that period.

Monthly Chart 6


Page 2 of 59

Data Dashboard - FY16-17 JULY 2016 to JUNE 2017 (YEAR TO DATE) Data

School Readiness

11,131*unduplicated count of SR children

served Year to Date

$18,161,687 SR funds paid Year to Date

$397.12average cost per SR child served

Year to Date At-Risk Career Source Income Eligible Contracted Slots

Unduplicated Count 3,414 2,670 5,643 100

Net Cost $5,192,982 $3,879,882 $8,926,603 $162,220

3,414 2,670 5,643 100

$5,192,982

$3,879,882

$8,926,603

$162,220

0

2,000,000

4,000,000

6,000,000

8,000,000

10,000,000

Children and Dollars Paid by CategoriesChart 7

763

1,383

1,929

2,232

2,148

1,463

4,421

133

0 - 11 Months (INF)

12 - 23 Months (TOD)




60 - 72 months (5YR)

School Age

Special Needs Care

Children Paid by Care Level/Age YTDChart 9

*Unduplicated Count:11,131

6%

11%

16%

17%14%

5%

29%

2%

Dollars Paid by Care Level/Age

$1,170,729

$1,990,710

$2,905,970

$3,086,605

$2,606,965

$856,868

$5,258,575

$285,266

YTDChart 10

Total: $18,161,687

SCHOOL- AGE

SPECIAL NEEDS INFANT

TODDLER

2YR

3YR4YR

5YR

YTD


18%

7%

4%

12%

55%

4%

School-Age Children by Dollars/Funding

$931,719

$358,436

$209,968

$653,823

$2,915,989

$188,639

BG5 = 597

BG8 = 2,429

*Unduplicated countSchool Age: 4,421

Chart 8

Total: $5,258,575

BG1 = 886

BG3 = 492BG3R = 153

CCEP = 181

YTD

BG1 - At Risk; BG3 - Tanf Temporary Cash Assistance; BG3R - Tanf At-Risk Relative Caregiver; BG5 - Tanf Transitional Child Care; BG8 - Income Eligible; CCEP - Child Care Executive Partnership - Income Eligible

Page 3 of 59

Data Dashboard - FY16-17 NOVEMBER 2016 Data

Voluntary Pre-Kindergarten

14,626unduplicated VPK children served

NOVEMBER

$3,586,637 VPK funds paid

NOVEMBER

$245.22cost per VPK child served

NOVEMBER

15,943unduplicated VPK children served

Year to Date

$14,138,811VPK funds paid

Year to Date

$386.91average cost per VPK child served

Year to Date

July Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun

FY15-16 Actual Paid 980 11,099 14,075 14,343 14,453 14,858 14,518 14,575 14,314 14,061 15,434 13,471

FY16-17 Actual Paid 924 13,893 14,412 14,508 14,626 0 0 0 0 0 0 0

500

2,500

4,500

6,500

8,500

10,500

12,500

14,500

Children Paid during FY 15-16 and FY 16-17Chart 1 Monthly

Page 4 of 59

Data Dashboard - FY16-17

NOVEMBER 2016 Data

Voluntary Pre-Kindergarten

July Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun

FY15-16 Dollars $1,074,861 $1,018,024 $3,797,786 $4,238,194 $3,431,798 $2,890,436 $3,668,872 $4,059,734 $3,490,933 $4,064,335 $3,836,728 $1,881,280

FY16-17 Dollars $942,303 $1,716,346 $4,164,827 $3,728,699 $3,586,637 $- $- $- $- $- $- $-

$-

$1,000,000

$2,000,000

$3,000,000

$4,000,000

$5,000,000

Dollars Expended for VPK Children for FY 15-16 and FY 16-17 Chart 2 Monthly

Page 5 of 59

Data Dashboard - FY16-17

Providers Relations

527 SR Providers Paid

NOVEMBER

100CCEP Providers

NOVEMBER

156Gold Seal Providers

NOVEMBER

647SR Providers Agreements

NOVEMBER

516VPK Providers Paid

NOVEMBER

534VPK Providers Agreements

NOVEMBER

NOVEMBER 2016 Data

0

100

200

300

400

500

600


Centers 443 470 475 477 472

Homes 60 62 57 55 55

School Readiness Providers Paid Monthly

0

50

100

150

200

250

300

350

400

450

500



Centers 85 451 465 471 475

Public Schools 4 33 36 38 38

Homes 0 2 3 3 3

VPK Providers Paid MonthlyChart 2

Chart 1

The difference between the Provider Agreements and the Providers Paid is that providers may have a "Provider Agreement" and not have any children enrolled or did not submit children attendance for the reporting month. Payments are made to providers for children attendance submitted during the reporting month.

Page 6 of 59

Data Dashboard - FY16-17 NOVEMBER 2016 Data

211 - CCRR

2,069Telephone calls received

NOVEMBER

9.5 minsAverage minutes per call

NOVEMBER

9.17 minsLength of time caller is on hold

NOVEMBER

1,225Number of Callers Served

NOVEMBER

2,083Monthly Callers Goal

(25,000 FY16-17 Goal)

59%Percent of Goal Achieved

3,470

6,440

3,536

2,3452,069

2,472

3219

19621568

1380

622

1883

991458 406

0

1,000

2,000

3,000

4,000

5,000

6,000

7,000

Jul-16 Aug-16 Sep-16 Oct-16 Nov-16 Dec-16

Calls Received 3,470 6,440 3,536 2,345 2,069

Calls Answered 2,472 3219 1962 1568 1380

Left Messages 622 1883 991 458 406

Calls Received vs Calls AnsweredChart 1 Monthly

0 500 1,000 1,500 2,000 2,500 3,000 3,500

Jul-16

Aug-16

Sep-16

Oct-16

Nov-16

Dec-16

511

643

484

361

390

1,707

3,230

778

344

293

576

705

677

456

558

Resource and Referral Support Data

Families Screened for SRProgram

Families receiving SR/VPKListing

Parent packets provided

Chart 2Monthly

Families screened - Parents calling for assistance for child care services are screened for wait list eligibility.

Each parent is provided a listing of providers requested by parent that is customized based on need, i.e., location, cost, language, zip codes, etc.

Parent packets provided includes community services, financial assistance program, child health care, abuse/welfare and special needs services.

Page 7 of 59

INTERIM FINANCIAL STATEMENTS

For The Second Month Ended August 31, 2016FISCAL YEAR 2016-2017

TAB 5

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Page

Financial Summary……………………………………………………………………………… 2

Statement of Financial Position……………………………………………………………… 3

Statement of Activities…………………………………………………………………………… 4

Budget to Actual (Budgetary Basis) - Monthly and Year to Date ………………………………………………………………… 5-6

Budget to Actual (Budgetary Basis) - Annualized Fiscal Year End……………………………………………………………… 7-8

Notes to the Financial Statements…………………………………………………………… 90

Early Learning Coalition of Broward County, Inc.Table of Contents

For The Second Month Ended August 31, 2016

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CHART 1

Annual Revenues YTDBudget To Date %

OEL - SR 42,566,103$ 8,455,184$ 34,110,919$ 19.9%OEL - CCEP 2,551,079 197,547 2,353,532 7.7%OEL - VPK 40,306,029 3,788,762 36,517,267 9.4%CSC 5,092,850 18,587 5,074,263 0.4%OTHER GRANTS / FUNDS 928,363 49,101 879,262 5.3%

91,444,424$ 12,509,180$ 78,935,244$ 78,935,244$

-

CHART 2

Annual Budget

Expended To Date Remaining YTD Projected **Variance

%

211 Broward593,639$ 86,708$ 506,931$ 14.6% 593,639$ - 48,077 7,053 41,024 14.7% 48,077 -

641,716$ 93,761$ 547,955$ 641,716$ - Broward Regional Health Planning Co.

3,100,789$ 325,212$ 2,775,577$ 10.5% 3,100,789$ - 961,097 106,068 855,029 11.0% 961,097 -

4,061,886$ 431,280$ 3,630,606$ 10.6% 4,061,886$ - -

40,646,622$ 7,465,189$ 33,181,433$ 18.4% 40,759,521$ 112,899 38,662,955 3,580,900 35,082,055 9.3% 38,662,955 -

105,651 21,058 84,593 19.9% 105,651 - 79,415,228$ 11,067,147$ 68,348,081$ 13.9% 79,528,127$ 112,899

Family Central, Inc.993,503$ 149,644$ 843,859$ 15.1% 993,503$ -

Nova Southeastern Univ.919,316$ 144,031$ 775,285$ 15.7% 919,316$ -

Broward County Public Schools843,157$ 55,299$ 787,858$ 6.6% 843,157$ -

Children's Forum448,587$ 89,754$ 358,833$ 20.0% 448,587$ -

4,121,031 476,380 3,644,651 11.6% 4,121,031 -

TOTAL 91,444,424$ * 12,507,296$ * 78,937,128$ 13.7% 91,557,323$ 112,899 * 1,884$ * 1,884$

ELC2 VPK Slot Payments

ELC2 SR Slot Management (includes



ELC1 Resource & ReferralELC1 VPK Outreach

ELC EXPENDITURES

* NOTE: Variances due to miscellaneous revenue received for general administrative expenses. Revenue is generated from contributions, small grants and donations for ELC trainings/meetings, conferences and special project $1,884

ELC4-2 Road To Child Outcomes

Preliminary Financial Summary

Remaining

ELC2 SR Slot Payments

ELC7 WAGES

Slot Payment (BRHPC)

ELC Admin/Grants/Services


ELC2 DCF - Entrant

ELC2 VPK Slot Management

ELC REVENUES / FUND SOURCE


$42,566,103

$2,551,079

$40,306,029

$5,092,850

$928,363

$8,455,184

$197,547

$3,788,762

$18,587

$49,101

19.9%

7.7%

9.4%

0.4%

5.3%

$(2,000,000) $3,000,000 $8,000,000 $13,000,000 $18,000,000 $23,000,000 $28,000,000 $33,000,000 $38,000,000 $43,000,000

OEL - SR

OEL - CCEP

OEL - VPK

CSC

OTHER GRANTS / FUNDS

YTD % YTD FY17 Budget FY17

$641,716.00

$4,061,886.00

$993,503.00

$919,316.00

$843,157.00

$448,587.00

$4,121,031.07

$93,760.80

$431,280.13

$149,643.84

$144,030.90

$55,298.72

$89,754.42

$476,380.28

14.6%

10.6%

15.1%

15.7%

6.6%

20.0%

11.6%

$- $500,000.00 $1,000,000.00 $1,500,000.00 $2,000,000.00 $2,500,000.00 $3,000,000.00 $3,500,000.00 $4,000,000.00 $4,500,000.00

211 BROWARD

BROWARD REGIONAL HEALTH PLANNING CO.

FAMILY CENTRAL, INC.

NOVA SOUTHEASTERN UNIV.

BROWARD COUNTY PUBLIC SCHOOLS

CHILDREN'S FORUM

ELC ADMIN/GRANTS/SERVICES

YTD % YTD FY17 Budget FY17

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Summary:Cash Balance 6,878,642$ Total Assets 10,812,874 Total Liabilities 10,456,543 Total Fund Equity 356,331$

August 31, 2016 August 31, 2015

ASSETS

Current Assets:Cash 6,878,642$ 5,423,011$ Petty Cash - 100 Advance, Interest & Accounts Receivable 160,161 10,152,614 Due From Other Agencies 3,800,000 4,013,325 Prepaid Expenses (25,929) 38,668

Property & Equipment, Net - 20,170 Total Current Assets 10,812,874$ 19,647,888$

Submitted to the September 28, 2016 Finance Committee MeetingLiabilities:

Accounts Payable (11,708)$ 166,318$ Salary & Fringe Benefits Payable 5,516 - Due to 211 Broward (33,130) 45,272 Due to Broward County School Board (92,540) 84,852 Due to Broward Regional Health Planning Council 3,920,267 9,489,090 Due to Children's Forum 83,317 67,545 Due to Family Central, Inc. (7,725) 2,293,172 Due to NSU (24,983) 160,527 Due to Other Agencies 1,305.71 2,564.67 Deferred Revenue 6,616,223 6,987,851

Total Liabilities 10,456,543$ 19,297,191$

Fund Equity: (Note 3)Designated for Program Enhancement - - Designated for eligible child care slots 114,994$ 114,994$ Equity in Fixed Assets 22,277 22,277 Fund Balance Undesignated 219,060 213,426

Total Fund Balance 356,331$ 350,697$

Total Liabilities and Fund Equity 10,812,874$ 19,647,888$

Notes on page 9 are an integral part of this Financial Statement.

Early Learning Coalition of Broward County, Inc.FY 2016-2017 Statement of Financial Position

As Of August 31, 2016

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August 2016 Actual

FY 2017 YTD Actual

FY 2016 YTD Actual

Revenues & supportGrants and other income

Federal grants 4,439,300$ 8,673,291$ 44,618,953$ State grants 2,471,244 3,788,762 38,158,329 Children's Services Council of Broward 5,219 18,587 4,395,576 Miscellaneous 9,068 28,541 213,078

Total grants and other income 6,924,831 12,509,180 87,385,936 Interest on Investments - - (86)

Total revenues & support 6,924,831.3 12,509,180 87,385,850

Expenses:Program services:

School Readiness 3,990,745 7,790,401 42,437,880 Voluntary Pre-kindergarten (Note 4) 2,419,276 3,686,968 37,819,117 Entrant Refugee Services BRHPC 11,357 21,058 - Program support and administration 277,723 532,489 4,518,731 Community Transformation Grants/PFPP 5,876 20,709 80,796 Quality Enhancement Programs 90,356 199,922 836,617

Total program services 6,795,333 12,251,547 85,693,141

Su Supporting services:General and administrative 127,763 255,749 1,722,285

Total supporting services 127,763 255,749 1,722,285

Total expenses 6,923,096 12,507,296 87,415,426

Change in net assets 1,735 1,884$ (29,576)$

Net assets, beginning of year 353,491 381,912

Net assets, end of the period 355,375$ 352,336


Early Learning Coalition of Broward County, Inc.FY 2016-2017 Statement of Activities

4

For The Month Ended August 31, 2016

of 59

ANNUAL BUDGET August Budget August Actuals Variance % of Monthly

Budget

Revenues:Local Sources:

Florida Department of Children & Familie -$ -$ 13,039$ (13,039)$ N/A OEL State/Federal - SR 42,566,103 3,751,036 4,331,045 (580,009) 115%OEL State/Federal - CCEP 2,551,079 224,808 95,217 129,591 42%OEL State - VPK 35,155,653 2,098,008 1,836,941 261,066 88%OEL State - VPK Prepayment (Note 4) 5,150,376 658,104 634,303 23,801 96%Children's Services Council 5,092,850 448,795 5,219 443,576 1%Other Grants 882,363 77,756 5,876 71,880 8%Miscellaneous/Match 46,000 4,054 3,192 862 78.7%

Total Revenue 91,444,424$ 7,262,560$ 6,924,831$ 337,729$ 75.90%

Expenditures:Program:

Resource & Referral - 211 593,639$ 52,313$ 58,999$ 6,686$ 113%VPK Resource & Referral - 211 48,077 4,237 5,180 944 122%SR Eligibility - DCF 12,046 1,062 997 (65) 94%SR Eligibility - BRHPC 3,088,743 272,188 215,069 (57,119) 79%VPK Eligibility - BRHPC 961,097 84,694 68,628 (16,067) 81%SR Slots 40,646,622 3,581,886 3,774,679 192,793 105%VPK Slots 38,662,955 3,407,080 2,350,648 (1,056,432) 69%DCF-Entrants Services 105,651 9,310 11,357 2,047 122%

Sub-Total Direct Services & Slots 84,118,830$ 7,412,770$ 6,485,557$ (927,213)$ 87%

Road To Child Outcomes - FCI 993,503 87,550 74,617 (12,933) 85%Road To Child Outcomes - NOVA 919,316 81,013 77,419 (3,593) 96%Road To Child Outcomes - BCSB 843,157 74,301 38,508 (35,793) 52%WAGES - Children's Forum 448,587 39,531 23,000 (16,530) 58%ELC ProviderMgmt & Screening 3IN 412,878 36,384 35,361 (1,023) 97%ELC Provider Quality CASI 288,588 25,431 29,613 4,182 116%ELC PQI & Data Mgmt 245,075 21,597 25,382 3,785 118%ELC Other Grants (UF/PFPP) 1,242,354 109,479 5,876 (103,603) 5%

Sub-Total Quality & Grants 5,393,458 475,286 309,776 (165,509) 65%

Total Program Expenses 89,512,288$ 7,888,056$ 6,795,333$ (1,092,723)$ 86%

Note: Year to Date (YTD) budget amounts are adjusted to reflect actual and planned 5

Early Learning Coalition of Broward County, Inc.FY 2016 - 2017 BUDGET TO ACTUALFor The Month Ended August 31, 2016

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ANNUAL BUDGET August Budget August Actuals Variance % of Monthly

Budget

Early Learning Coalition of Broward County, Inc.FY 2016 - 2017 BUDGET TO ACTUALFor The Month Ended August 31, 2016

Administration:Employee Salaries 1,027,504$ 90,546$ 56,472$ (34,074)$ 62%Employee Fringes 431,820 38,053 20,888 (17,165) 55%Legal Fees 62,250 5,486 4,513 (973) 82%Auditors 31,000 2,732 (2,732) 0%Accreditation Cost 400 35 (35) 0%Other Consultants 40,800 10,595 11,168 572 105%Insurance 11,081 976 787 (190) 81%Travel 18,891 1,665 169 (1,496) 10%Repairs/Maint & Utilities 5,912 521 256 (265) 49%Rental - Equip & Facility 155,110 13,669 12,882 (786) 94%Communications 39,232 3,457 2,066 (1,391) 60%Advertising and Printing 18,000 1,586 4,938 3,352 311%Other: Supplies/Subscription, etc. 49,723 4,382 13,624 9,243 311%Depreciation 11,040 973 (973) 0%

Sub-Total Expenditures 1,902,763$ 174,676$ 127,763$ (46,914)$ 73.14%

Capital Outlay:Computer Hardware/Software 26,923 2,373 - (2,373) 0.0%Furniture/ Equipment 2,450 216 - (216) 0.0%

Total Capital Outlay 29,373 2,588 - (2,588) 0.0%

Total ELC Administration Expense 1,932,136 177,265 127,763 (49,502) 72.07%

Total Expenditures 91,444,424$ 8,065,321$ 6,923,096$ (1,142,225)$ 85.84%

(*) Note: Line Item re-allocated in accordance to Fiscal PoliciesNote: Year to Date (YTD) budget amounts are adjusted to reflect actual and planned activity.Notes on page 9 are an integral part of this Financial Statement.

6

The Variance column in the previously released Financial reports was referencing the wrong column to compare to the August actutals, making the variance column show the incorrect calculation. The formula has been fixed to reference the correct budget column and the spreadsheet will be revised in the future to avoid these kinds of errors.

of 59

FY 2017 Annual Budget

YTD Actual Balance % of

Budget Target %


FL Department of Children & Families -$ 20,560$ (20,560)$ N/A 62%OEL State/Federal - SR 42,566,103 8,455,184 34,110,919 20% 100%OEL State/Federal - CCEP 2,551,079 197,547 2,353,532 8% 100%OEL State - VPK 35,155,653 2,866,510 32,289,142 8% 98%OEL State - VPK Prepayment (Note 4) 5,150,376 922,251 4,228,125 18% 0%Children's Services Council 5,092,850 18,587 5,074,263 0% 96%Interest on Investments - - - N/A N/AOther Grants 882,363 25,243 857,120 3% 50%Miscellaneous 46,000 3,298 42,702 7% N/A

Total Revenue 91,444,424$ 12,509,180$ 78,935,244$ 14% 100%


Resource & Referral - 211 593,639$ 86,708$ 506,931$ 15% 95%VPK Resource & Referral - 211 48,077 7,053 41,024 15% 76%SR Eligibility - DCF 12,046 997 11,048 8% 100%

Su VPK Eligibility - FCI - - - N/A 100%SR Eligibility - BRHPC 3,088,743 324,215 2,764,528 10% 100%VPK Eligibility - BRHPC 961,097 106,068 855,029 11% 90%SR Slots 40,646,622 7,465,189 33,181,433 18% 100%VPK Slots 38,662,955 3,580,900 35,082,055 9% 100%DCF - Entrant Slots 105,651 21,058 84,593 20% 65%

Sub-Total Direct Services & Slots 84,118,830$ 11,592,188$ 72,526,641$ 14% 100%Road To Child Outcomes - FCI 993,503 149,644 843,859 15% 95%Road To Child Outcomes - NOVA 919,316 144,031 775,285 16% 100%Road To Child Outcomes - BCSB 843,157 55,299 787,858 7% 95%WAGES - Children's Forum 448,587 89,754 358,833 20% 100%ELC Provider Mgmt & Screening 412,878 65,505 347,373 16% 100%ELC Provider Quality 288,588 82,843 205,745 29% 100%ELC PQI & Data Mgmt 245,075 51,575 193,500 21% 80%ELC Other Grants (PICH/PFPP) 1,242,354 20,709 1,221,645 2% 55%

Sub-Total Quality & Grants 5,393,458 659,360 4,734,098 12% 95%Total Program Services 89,512,288$ 12,251,547$ 77,260,740$ 14% 100%

Early Learning Coalition of Broward County, Inc.FY 2016-2017 Annual Budget to Actual (Budgetary Basis)

7


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Budget Target %



Administration:Employee Salaries 1,027,504$ 103,225$ 924,279$ 10% 96%Employee Fringes 431,820 42,466 389,354 10% 91%Legal Fees 62,250 4,513 57,738 7% 100%Auditors 31,000 - 31,000 0% 100%Accreditation Cost 400 - 400 0% 100%Other Consultants 40,800 23,435 17,365 57% 110%Insurance 11,081 1,574 9,507 14% 100%Travel 18,891 562 18,329 3% 110%Repairs/Maint & Utilities 5,912 599 5,313 10% 86%Rental - Equip & Facility 155,110 25,157 129,953 16% 88%Communications 39,232 4,895 34,337 12% 95%Advertising/Printing 18,000 5,138 12,862 29% 16%Other: Supplies/Subscription etc. 49,723 44,184 5,539 89% 120%Depreciation 11,040 - 11,040 0% 90%

Total Administration Expenses 1,902,763$ 255,749$ 1,647,015$ 13% 96%

Capital Outlay:Computer Hardware/Software 26,923$ -$ 26,923$ 0% 65%Furniture/ Equipment 2,450 - 2,450 0% 37%

Total Capital Outlay 29,373 - 29,373 0% 57%

1,932,136 255,749 1,676,388 13% 96%

Total Expenses 91,444,424$ 12,507,296$ 78,937,127$ 14% 95%

8


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(1)

(2)

(3)

(4)


The full accrual basis of accounting is utilized by ELC. Under the accrual basis,

revenues are recognized in the accounting period in which they are earned. Expenses

are recognized in the accounting period in which the liability is incurred.

Notes to the Financial Statements

The Early Learning Coalition of Broward County ("ELC") budgets, as revenue, 100% ofthe OEL Funding Agreement. Revenue from the Office of Early Learning (OEL)comprises both federal and state funds.


State law requires that VPK providers receive a prepayment at the beginning of eachmonth. During the fiscal year, these expenditures are reported as revenue and expensewhen they are incurred. At year end, any outstanding balances will be recorded to thecorresponding asset and liability account.

The Net Assets Undesignated represents .24% of the total Operating Budget.

of 59

Submitted to the November 30, 2016 Finance Committee Meeting


For The Third Month Ended September 30, 2016FISCAL YEAR 2016-2017

TAB 6

of 59

Page






Notes to the Financial Statements…………………………………………………………… 9Submitted to the November 30, 2016 Finance Committee Meeting


For The Third Month Ended September 30, 2016

of 59

CHART 1


OEL - SR 44,571,921$ 12,611,138$ 31,960,783$ 28.3%OEL - CCEP 2,551,079 299,675 2,251,404 11.7%OEL - VPK 40,306,029 8,472,099 31,833,930 21.0%CSC 5,092,850 39,018 5,053,832 0.8%OTHER GRANTS / FUNDS 1,045,961 278,864 767,097 26.7%

93,567,840$ 21,700,794$ 71,867,046$ 71,867,046$

-

CHART 2

Annual Budget

Expended To Date

Remaining YTD Projected **Variance

%

211 Broward593,639$ 128,543$ 465,096$ 21.7% 593,639$ - 48,077 10,423 37,654 21.7% 48,077 -


3,100,789$ 652,272$ 2,448,517$ 21.0% 3,100,789$ - 961,097 209,911 751,186 21.8% 961,097 -

4,061,886$ 862,182$ 3,199,704$ 21.2% 4,061,886$ - -

42,473,490$ 10,899,951$ 31,573,538$ 25.7% 41,356,336$ ($1,117,153.51)**

38,662,955 8,118,078 30,544,877 21.0% 38,922,972 260,017

105,651 34,702 70,949 32.8% 105,651 -

81,242,096$ 19,052,731$ 62,189,365$ 23.5% 80,384,959$ (857,136)

Family Central, Inc.993,503$ 224,281$ 769,222$ 22.6% 993,503$ -

Nova Southeastern Univ.919,316$ 217,367$ 701,949$ 23.6% 919,316$ -

Broward County Public Schools843,157$ 128,882$ 714,275$ 15.3% 843,157$ -

Children's Forum448,587$ 121,206$ 327,381$ 27.0% 448,587$ -

4,417,579 952,519 3,465,060 21.6% 4,417,579 -

TOTAL 93,567,840$ * 21,698,136$ * 71,869,704$ 23.2% 92,710,704$ (857,136) * 2,658$ * 2,658$


Early Learning Coalition of Broward County, Inc.Preliminary Financial Summary

*


ELC7 WAGES




ELC2 DCF - Entrant



* *NOTE: Surplus in CSC8 Slot dollars to be used in 1st Quarter of FY 17.

* NOTE: Variances due to miscellaneous revenue received for general administrative expenses. Revenue is generated from contributions, small grants and donations for ELC trainings/meetings, conferences and special projects $2,658


Remaining





ELC EXPENDITURES

$44,571,921

$2,551,079

$40,306,029

$5,092,850

$1,045,961

$12,611,138

$299,675

$8,472,099

$39,018

$278,864

$(7,000,000) $3,000,000 $13,000,000 $23,000,000 $33,000,000 $43,000,000 $53,000,000

OEL - SR

OEL - CCEP

OEL - VPK

CSC


YTD FY17 Budget FY17

$641,716.00

$4,061,886.00

$993,503.00

$919,316.00

$843,157.00

$448,587.00

$4,417,579.20

$138,966.77

$862,182.37

$224,281.23

$217,367.04

$128,882.06

$121,206.34

$952,518.99

$- $500,000.00 $1,000,000.00 $1,500,000.00 $2,000,000.00 $2,500,000.00 $3,000,000.00 $3,500,000.00 $4,000,000.00 $4,500,000.00 $5,000,000.00

211 BROWARD





CHILDREN'S FORUM



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September 30, 2016 September 30, 2015

ASSETS

Assets:Cash 7,941,077$ 2,434,513$ Petty Cash 100 100 Advance, Interest & Accounts Receivable 9,024,201 13,834,921 Due From Other Agencies 3,813,325 3,813,325 Prepaid Expenses 47,188 40,790

Property & Equipment, Net 10,758 19,193 Assets 20,836,649$ 20,142,843$

Liabilities:Accounts Payable 235,286$ 27,951$ Salary & Fringe Benefits Payable 74,387 2,561 Due to 211 Broward 109,385 53,819 Due to Broward County School Board 112,091 69,851 Due to Broward Regional Health Planning Council 12,580,769 12,528,515 Due to Children's Forum 54,452 31,450 Due to Family Central, Inc. 156,395 1,270 Due to NSU 150,755 72,626 Due to Other Agencies 16,623.49 13,369.80 Deferred Revenue 6,991,759 6,976,916


Net Assets: (Note 3)Designated for Program Enhancement - - Designated for eligible child care slots 114,994$ 114,994$ Equity in Fixed Assets 22,277 22,277 Fund Balance Undesignated 217,473 227,244

Net Assets 354,744$ 364,515$




As Of September 30, 2016

of 59

September 2016 Actual

FY 2017 YTD Actual

FY 2016 YTD Actual


Federal grants 4,273,621$ 12,946,912$ 12,063,605$ State grants 4,683,337 8,472,099 7,691,732 Children's Services Council of Broward 20,432 39,018 1,999,158 Miscellaneous 214,328.18 242,765 38,648

Total grants and other income 9,191,718 21,700,794 21,793,143 Interest on Investments - - 63

Total revenues & support 9,191,718$ 21,700,794$ 21,793,206$


School Readiness 3,761,822$ 11,552,223$ 12,888,414$ Voluntary Pre-kindergarten (Note 4) 4,641,021 8,327,989 7,528,786 Entrant Refugee Services BRHPC 13,643 34,702 Program support and administration 298,214.76 830,703 772,915 Community Transformation Grants/PFPP 213,014.98 233,724 22,267 Quality Enhancement Programs 70,642.20 270,564 157,171

Total program services 8,998,359$ 21,249,906$ 21,369,553$

Su Supporting services:General and administrative 192,482$ 448,230$ 412,629$

Total supporting services 192,482.00 448,230 412,629

Total expenses 9,190,840.61 21,698,136 21,782,182

Change in net assets 877.44$ 2,658$ 11,025$


Net assets, end of the period 354,744$ 364,515$



4


of 59

ANNUAL BUDGET September Budget

September Actuals Variance % of Monthly

Budget


Florida Department of Children & Fa -$ -$ 15,539$ 15,539$ N/A OEL State/Federal - SR 44,571,921 3,757,020 4,155,954 398,934 111%OEL State/Federal - CCEP 2,551,079 215,033 102,128 (112,905) 47%OEL State - VPK 35,155,653 4,030,603 4,318,127 287,525 107%OEL State - VPK Prepayment (Note 4 5,150,376 434,131 365,210 (68,922) 84%Children's Services Council 5,092,850 429,282 20,432 (408,851) 5%Other Grants 999,961 84,288 213,015 128,727 253%Miscellaneous/Match 46,000 3,877 1,313 (2,564) 33.9%

Total Revenue 93,567,840$ 8,954,236$ 9,191,718$ 237,483$ 102.65%


Resource & Referral - 211 593,639$ 50,039$ 41,835$ 8,203$ 84%VPK Resource & Referral - 211 48,077 4,052 3,371 682 83%SR Eligibility - DCF 12,046 1,015 1,495 (480) 147%SR Eligibility - BRHPC 3,088,743 260,354 325,565 (65,211) 125%VPK Eligibility - BRHPC 961,097 81,012 103,842 (22,830) 128%SR Slots 42,473,490 3,422,697 3,434,763 (12,066) 100%VPK Slots 38,662,955 4,164,827 4,537,178 (372,351) 109%DCF-Entrants Services 105,651 8,905 13,643 (4,738) 153%

Sub-Total Direct Services & Slots 85,945,698$ 7,992,902$ 8,461,693$ (468,791)$ 106%Road To Child Outcomes - FCI 993,503 83,744 74,637 9,106 89%Road To Child Outcomes - NOVA 919,316 77,490 73,336 4,154 95%Road To Child Outcomes - BCSB 843,157 71,071 73,583 (2,513) 104%WAGES - Children's Forum 448,587 37,812 31,452 6,360 83%ELC ProviderMgmt & Screening 3IN 543,010 45,771 42,653 3,118 93%ELC Provider Quality CASI 342,128 28,838 7,520 21,318 26%ELC PQI & Data Mgmt 224,107 18,890 20,469 (1,579) 108%ELC Other Grants (UF/PFPP) 1,387,792 116,979 213,015 (96,036) 182%

Sub-Total Quality & Grants 5,701,600 480,595 536,666 (56,071) 112%

Total Program Expenses 91,647,298$ 8,473,496$ 8,998,359$ (524,862)$ 106%

Note: Year to Date (YTD) budget amounts are adjusted to reflect actual and 5

Early Learning Coalition of Broward County, Inc.FY 2016 - 2017 BUDGET TO ACTUAL

For The Month Ended September 30, 2016

of 59

ANNUAL BUDGET September Budget

September Actuals Variance % of Monthly

Budget



Administration:Employee Salaries 999,820$ 84,276$ 110,988$ (26,712)$ 132%Employee Fringes 400,438 33,753 28,802 4,951 85%Legal Fees 62,250 5,247 5,550 (303) 106%Auditors 31,000 14,613 14,000 613 96%Accreditation Cost 400 34 - 34 0%Other Consultants 40,800 7,339 7,688 (349) 105%Insurance 11,081 934 789 145 84%Travel 22,291 1,879 1,396 483 74%Repairs/Maint & Utilities 5,912 498 334 164 67%Rental - Equip & Facility 155,110 13,074 11,648 1,426 89%Communications 39,232 3,307 1,638 1,669 50%Advertising and Printing 18,000 5,317 5,500 (183) 103%Other: Supplies/Subscription, etc. 49,723 4,191 4,148 43 99%Depreciation 11,040 931 - 931 0%

Sub-Total Expenditures 1,847,097$ 175,394$ 192,482$ (17,088)$ 110%

Capital Outlay:Computer Hardware/Software 53,846 4,539 - 4,539 0.0%Furniture/ Equipment 19,600 1,652 - 1,652 0.0%

Total Capital Outlay 73,446 6,191 - 6,191 0.0%

Total ELC Administration Expense 1,920,542 181,585 192,482 (10,897) 106%

Total Expenditures 93,567,840$ 8,655,081$ 9,190,841$ (535,759)$ 106%


6

of 59



Budget

Variance From YTD

Target: 17%


FL Department of Children & Families -$ 36,099$ 36,099$ N/A 0%OEL State/Federal - SR 44,571,921 12,611,138 (31,960,783) 28% 12%OEL State/Federal - CCEP 2,551,079 299,675 (2,251,404) 12% -5%OEL State - VPK 35,155,653 7,184,638 (27,971,015) 20% 4%OEL State - VPK Prepayment (Note 4) 5,150,376 1,287,461 (3,862,915) 25% 8%Children's Services Council 5,092,850 39,018 (5,053,832) 1% -16%Other Grants 999,961 238,258 (761,703) 24% 7%Miscellaneous 46,000 4,507 (41,493) 10% -7%

Total Revenue 93,567,840$ 21,700,794$ (71,867,046)$ 23% 7%


Resource & Referral - 211 593,639$ 128,543$ 465,096$ 22% 5%VPK Resource & Referral - 211 48,077 10,423 37,654 22% 5%SR Eligibility - DCF 12,046 2,492 9,553 21% 4%SR Eligibility - BRHPC 3,088,743 649,780 2,438,963 21% 4%VPK Eligibility - BRHPC 961,097 209,911 751,186 22% 5%SR Slots 42,473,490 10,899,951 31,573,538 26% 9%VPK Slots 38,662,955 8,118,078 30,544,877 21% 4%DCF - Entrant Slots 105,651 34,702 70,949 33% 16%

Sub-Total Direct Services & Slots 85,945,698$ 20,053,880$ 65,891,816$ 23% 7%Road To Child Outcomes - FCI 993,503 224,281 769,222 23% 6%Road To Child Outcomes - NOVA 919,316 217,367 701,949 24% 7%Road To Child Outcomes - BCSB 843,157 128,882 714,275 15% -1%WAGES - Children's Forum 448,587 121,206 327,381 27% 10%ELC Provider Mgmt & Screening 543,010 108,158 434,852 20% 3%ELC Provider Quality 342,128 90,363 251,765 26% 10%ELC PQI & Data Mgmt 224,107 72,044 152,063 32% 15%ELC Other Grants (PICH/PFPP) 1,387,792 233,724 1,154,068 17% 0%

Sub-Total Quality & Grants 5,701,600 1,196,026 4,505,574 21% 4%Total Program Services 91,647,298$ 21,249,906$ 70,397,391$ 23% 7%


7


of 59



Budget

Variance From YTD

Target: 17%



Administration:Employee Salaries 999,820$ 214,213$ 785,607$ 21% 5%Employee Fringes 400,438 71,268 329,170 18% 1%Legal Fees 62,250 10,063 52,188 16% -1%Auditors 31,000 14,000 17,000 45% 28%Accreditation Cost 400 - 400 0% -17%Other Consultants 40,800 31,124 9,676 76% 60%Insurance 11,081 2,363 8,718 21% 5%Travel 22,291 1,958 20,333 9% -8%Repairs/Maint & Utilities 5,912 934 4,978 16% -1%Rental - Equip & Facility 155,110 36,805 118,305 24% 7%Communications 39,232 6,534 32,698 17% 0%Advertising/Printing 18,000 10,638 7,362 59% 42%Other: Supplies/Subscription etc. 49,723 48,332 1,391 97% 81%Depreciation 11,040 - 11,040 0% -17%

Total Administration Expenses 1,847,097$ 448,230$ 1,398,867$ 24% 8%

Capital Outlay:Computer Hardware/Software 53,846$ -$ 53,846$ 0% -17%Furniture/ Equipment 19,600 - 19,600 0% -17%

Total Capital Outlay 73,446 - 73,446 0% -17%

1,920,542 448,230 1,472,312 23% 7%

Total Expenses 93,567,840$ 21,698,136$ 71,869,703$ 23% 7%

8


of 59

(1)

(2)

(3)

(4)




Early Learning Coalition of Broward County, Inc. Notes to the Financial Statements





of 59

INTERIM FINANCIAL STATEMENTSFISCAL YEAR 2016-2017

For The Fourth Month Ended October 31, 2016

TAB 7

of 59

Page









of 59

CHART 1



93,567,840$ 29,447,956$ 64,119,884$ 64,119,884$

-

CHART 2

Annual Budget Expended To Date

Remaining YTD Projected *Variance

%

211 Broward593,639$ 169,759$ 423,880$ 28.6% 593,639$ - 48,077 13,684 34,393 28.5% 48,077 -


3,100,789$ 850,079$ 2,250,710$ 27.4% 3,100,789$ - 961,097 272,751 688,346 28.4% 961,097 -

4,061,886$ 1,122,830$ 2,939,056$ 0$ 4,061,886$ - -

42,473,490$ 14,030,551$ 28,442,939$ 33.0% 41,430,255$ ($1,043,234)**38,662,955 11,846,920 26,816,035 30.6% 38,765,925 102,970

105,651 48,105 57,546 45.5% 105,651 -

81,242,096$ 25,925,577$ 55,316,519$ 31.9% 80,301,831$ (940,265) Family Central, Inc.

993,503$ 294,454$ 699,049$ 29.6% 993,503$ - Nova Southeastern Univ.

919,316$ 284,675$ 634,641$ 31.0% 919,316$ - Broward County Public Schools

843,157$ 202,684$ 640,473$ 24.0% 843,157$ - Children's Forum

448,587$ 155,732$ 292,855$ 34.7% 448,587$ -

4,417,579 1,259,280 3,158,299 28.5% 4,417,579 -

TOTAL 93,567,840$ * 29,428,676$ * 64,139,164$ 31.5% 92,627,575$ (940,265)

* 19,280$ * 19,280$



*


ELC7 WAGES




ELC2 DCF - Entrant




* NOTE: Variances due to miscellaneous revenue received for general administrative expenses. Revenue is generated from contributions,small grants and donations for ELC trainings/meetings, conferences and special projects $19,280


Remaining





ELC EXPENDITURES

$44,571,921

$2,551,079

$40,306,029

$5,092,850

$1,045,961

$15,818,548

$535,572

$12,291,983

$380,236

$421,617

$(7,000,000) $3,000,000 $13,000,000 $23,000,000 $33,000,000 $43,000,000 $53,000,000

OEL - SR

OEL - CCEP

OEL - VPK

CSC



$641,716.00

$4,061,886.00

$993,503.00

$919,316.00

$843,157.00

$448,587.00

$4,417,579.20

$183,443.48

$1,122,830.32

$294,454.11

$284,674.89

$202,684.24

$155,732.49

$1,259,280.15

$- $500,000.00 $1,000,000.00 $1,500,000.00 $2,000,000.00 $2,500,000.00 $3,000,000.00 $3,500,000.00 $4,000,000.00 $4,500,000.00 $5,000,000.00

211 BROWARD





CHILDREN'S FORUM



of 59


October 31, 2016 October 31, 2015

ASSETS

Assets:Cash 10,014,747$ 9,006,943$ Petty Cash 100 100 Advance, Interest & Accounts Receivable 7,764,341 8,942,107 Due From Other Agencies 3,811,758 3,813,325 Prepaid Expenses 50,804 44,110


Liabilities:Accounts Payable 135,606$ 8,051$ Salary & Fringe Benefits Payable 2,355 (43) Due to 211 Broward 89,683 93,498 Due to Broward County School Board 147,386 141,195 Due to Broward Regional Health Planning Council 13,554,144 13,946,146 Due to Children's Forum 65,978 31,652 Due to Family Central, Inc. 151,952 157,250 Due to NSU 140,644 72,553 Due to Other Agencies 16,636.34 33,306.43 Deferred Revenue 6,976,759 6,976,916


Net Assets : (Note 3)Designated for Program Enhancement - - Designated for eligible child care slots 114,994$ 114,944$ Equity in Fixed Assets 22,277 22,277 Fund Balance Undesignated 234,095 227,096

Net Assets 371,366$ 364,317$




As Of October 31, 2016

of 59

October 2016 Actual

FY 2017 YTD Actual

FY 2016 YTD Actual






School Readiness 3,328,407$ 14,880,630$ 16,862,802$ Voluntary Pre-kindergarten (Note 4) 3,791,683 12,119,671 11,732,037 Entrant Refugee Services BRHPC 13,404 48,105 - Program support and administration 290,285.77 1,120,989 1,087,936 Community Transformation Grants/PFPP 108,758.93 342,483 30,362 Quality Enhancement Programs 59,056.86 329,621 229,396


Supporting services:General and administrative 137,623$ 587,175$ 556,016$


Total expenses 7,729,217.82 29,428,676 30,498,548

Change in net assets 16,621.71$ 19,280$ 10,826$




Early Learning Coalition of Broward County, Inc. FY 2016-2017 Statement of Activities

For The Month Ended October 31, 2016

4

of 59

ANNUAL BUDGET October Budget October Actuals Variance % of Monthly Budget


Florida Department of Children & Familie -$ -$ 14,564$ (14,564)$ N/A OEL State/Federal - SR 44,571,921 3,586,247 3,207,410 378,837 89%OEL State/Federal - CCEP 2,551,079 205,259 235,896 (30,637) 115%OEL State - VPK 35,155,653 2,828,616 3,819,741 (991,125) 135%OEL State - VPK Prepayment (Note 4) 5,150,376 414,398 143 414,255 0%Children's Services Council 5,092,850 409,770 341,218 68,552 83%Other Grants 999,961 80,457 108,759 (28,302) 135%Miscellaneous/Match 46,000 3,701 18,109 (14,408) 489.3%

Total Revenue 93,567,840$ 7,528,447$ 7,745,840$ (217,393)$ 102.89%


Resource & Referral - 211 593,639$ 47,764$ 41,216$ 6,548$ 86%VPK Resource & Referral - 211 48,077 3,868 3,261 608 84%SR Eligibility - DCF 12,046 969 221 749 23%SR Eligibility - BRHPC 3,088,743 248,520 197,587 50,932 80%VPK Eligibility - BRHPC 961,097 77,330 62,840 14,489 81%SR Slots 42,473,490 3,161,308 3,130,600 30,709 99%VPK Slots 38,662,955 3,728,699 3,728,842 (143) 100%DCF-Entrants Services 105,651 8,501 13,404 (4,903) 158%

Sub-Total Direct Services & Slots 85,945,698$ 7,276,959$ 7,177,970$ 98,989$ 99%

Road To Child Outcomes - FCI 993,503 79,937 70,173 9,764 88%Road To Child Outcomes - NOVA 919,316 73,968 67,308 6,660 91%Road To Child Outcomes - BCSB 843,157 67,840 73,802 (5,962) 109%WAGES - Children's Forum 448,587 36,093 34,526 1,567 96%ELC ProviderMgmt & Screening 3IN 543,010 43,690 32,650 11,041 75%ELC Provider Quality CASI 342,128 27,528 15,837 11,690 58%ELC PQI & Data Mgmt 224,107 18,032 10,570 7,462 59%ELC Other Grants (UF/PFPP) 1,387,792 111,661 108,759 2,902 97%

Sub-Total Quality & Grants 5,701,600 458,749 413,625 45,125 90%

Total Program Expenses 91,647,298$ 7,735,708$ 7,591,595$ 144,113$ 98%

Note: Year to Date (YTD) budget amounts are adjusted to reflect actual and planned 5



of 59

ANNUAL BUDGET October Budget October Actuals Variance % of Monthly Budget



Administration:Employee Salaries 999,820$ 80,445$ 61,195$ 19,251$ 76%Employee Fringes 400,438 32,219 23,191 9,028 72%Legal Fees 62,250 5,009 7,650 (2,641) 153%Auditors 31,000 2,494 14,000 (11,506) 561%Accreditation Cost 400 32 - 32 0%Other Consultants 40,800 3,283 613 2,670 19%Insurance 11,081 892 789 103 88%Travel 22,291 1,794 642 1,152 36%Repairs/Maint & Utilities 5,912 476 536 (60) 113%Rental - Equip & Facility 155,110 12,480 14,187 (1,707) 114%Communications 39,232 3,157 2,537 619 80%Advertising and Printing 18,000 1,448 384 1,064 27%Other: Supplies/Subscription, etc. 49,723 4,001 11,899 (7,899) 297%Depreciation 11,040 888 888 0%

Sub-Total Expenditures 1,847,097$ 148,617$ 137,623$ 10,994$ 93%



Total ELC Administration Expense 1,920,542 154,526 137,623 16,904 89%

Total Expenditures 93,567,840$ 7,890,234$ 7,729,218$ 161,017$ 98%Notes on page 9 are an integral part of this Financial Statement.

6

of 59



Budget

Variance From YTD

Target: 33%


FL Department of Children & Families -$ 55,069$ 55,069$ N/A 0%OEL State/Federal - SR 44,571,921 15,818,548 (28,753,373) 35% 2%OEL State/Federal - CCEP 2,551,079 535,572 (2,015,507) 21% -12%OEL State - VPK 35,155,653 11,004,379 (24,151,274) 31% -2%OEL State - VPK Prepayment (Note 4) 5,150,376 1,287,604 (3,862,772) 25% -8%Children's Services Council 5,092,850 380,236 (4,712,614) 7% -26%Other Grants 999,961 343,784 (656,177) 34% 1%Miscellaneous 46,000 22,765 (23,235) 49% 16%

Total Revenue 93,567,840$ 29,447,956$ (64,119,884)$ 31% -2%


Resource & Referral - 211 593,639$ 169,759$ 423,880$ 29% -5%VPK Resource & Referral - 211 48,077 13,684 34,393 28% -5%SR Eligibility - DCF 12,046 2,712 9,333 23% -11%SR Eligibility - BRHPC 3,088,743 847,367 2,241,376 27% -6%VPK Eligibility - BRHPC 961,097 272,751 688,346 28% -5%SR Slots 42,473,490 14,030,551 28,442,939 33% 0%VPK Slots 38,662,955 11,846,920 26,816,035 31% -3%DCF - Entrant Slots 105,651 48,105 57,546 46% 12%

Sub-Total Direct Services & Slots 85,945,698$ 27,231,850$ 58,713,846$ 32% -2%Road To Child Outcomes - FCI 993,503 294,454 699,049 30% -4%Road To Child Outcomes - NOVA 919,316 284,675 634,641 31% -2%Road To Child Outcomes - BCSB 843,157 202,684 640,473 24% -9%WAGES - Children's Forum 448,587 155,732 292,855 35% 1%ELC Provider Mgmt & Screening 543,010 140,808 402,202 26% -7%ELC Provider Quality 342,128 106,200 235,928 31% -2%ELC PQI & Data Mgmt 224,107 82,614 141,493 37% 4%ELC Other Grants (PICH/PFPP) 1,387,792 342,483 1,045,309 25% -9%

Sub-Total Quality & Grants 5,701,600 1,609,650 4,091,950 28% -5%Total Program Services 91,647,298$ 28,841,501$ 62,805,796$ 31% -2%


7


of 59



Budget

Variance From YTD

Target: 33%



Administration:Employee Salaries 999,820$ 275,408$ 724,412$ 28% -6%Employee Fringes 400,438 94,459 305,979 24% -10%Legal Fees 62,250 17,713 44,538 28% -5%Auditors 31,000 28,000 3,000 90% 57%Accreditation Cost 400 - 400 0% -33%Other Consultants 40,800 31,736 9,064 78% 44%Insurance 11,081 3,152 7,929 28% -5%Travel 22,291 2,600 19,691 12% -22%Repairs/Maint & Utilities 5,912 1,470 4,442 25% -8%Rental - Equip & Facility 155,110 50,993 104,117 33% 0%Communications 39,232 9,071 30,161 23% -10%Advertising/Printing 18,000 11,022 6,978 61% 28%Other: Supplies/Subscription etc. 49,723 61,553 (11,830) 124% 90%Depreciation 11,040 - 11,040 0% -33%

Total Administration Expenses 1,847,097$ 587,175$ 1,259,921$ 32% -2%



1,920,542 587,175 1,333,367 31% -3%

Total Expenses 93,567,840$ 29,428,676$ 64,139,163$ 31% -2%

8


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(1)

(2)

(3)

(4)




Early Learning Coalition of Broward County, Inc. Notes to the Financial Statements





of 59

Submitted to the January 25, 2017 Finance Committee Meeting


For The Fifth Month Ended November 30, 2016FISCAL YEAR 2016-2017

TAB 8

of 59

Page








For The Fifth Month Ended November 30, 2016

of 59

CHART 1



93,567,840$ 37,136,511$ 56,431,329$ 56,431,329$

-

CHART 2

Annual Budget Expended To Date

Remaining YTD Projected *Variance

%

211 Broward593,639$ 208,874$ 384,765$ 35.2% 593,639$ - 48,077 16,995 31,082 35.3% 48,077 -


3,100,789$ 1,105,869$ 1,994,920$ 35.7% 3,100,789$ - 961,097 354,198 606,899 36.9% 961,097 -

4,061,886$ 1,460,067$ 2,601,819$ 35.9% 4,061,886$ - -

42,473,490$ 17,339,498$ 25,133,992$ 40.8% 41,430,255$ ($1,043,234)**38,662,955 15,377,597 23,285,358 39.8% 38,765,925 102,970

105,651 61,861 43,790 58.6% 105,651 -

81,242,096$ 32,778,956$ 48,463,140$ 40.3% 80,301,831$ (940,265) Family Central, Inc.

993,503$ 367,708$ 625,795$ 37.0% 993,503$ - Nova Southeastern Univ.

919,316$ 354,639$ 564,677$ 38.6% 919,316$ - Broward County Public Schools

843,157$ 283,563$ 559,594$ 33.6% 843,157$ - Children's Forum

448,587$ 178,089$ 270,498$ 39.7% 448,587$ -

4,417,579 1,453,811 2,963,768 32.9% 4,417,579 -

TOTAL 93,567,840$ * 37,102,701$ * 56,465,139$ 39.7% 92,627,575$ (940,265)

* 33,809$ * 33,809$



*


ELC7 WAGES




ELC2 DCF - Entrant




* NOTE: Variances due to miscellaneous revenue received for general administrative expenses. Revenue is generated from contributions,small grants and donations for ELC trainings/meetings, conferences and special projects $33,809


Remaining





ELC EXPENDITURES

$44,571,921

$2,551,079

$40,306,029

$5,092,850

$1,045,961

$19,203,544

$758,612

$15,931,597

$784,163

$458,594

$(7,000,000) $3,000,000 $13,000,000 $23,000,000 $33,000,000 $43,000,000 $53,000,000

OEL - SR

OEL - CCEP

OEL - VPK

CSC



$641,716.00

$4,061,886.00

$993,503.00

$919,316.00

$843,157.00

$448,587.00

$4,417,579.20

$225,868.97

$1,460,066.70

$367,708.17

$354,638.66

$283,563.03

$178,088.90

$1,453,810.73

$- $500,000.00 $1,000,000.00 $1,500,000.00 $2,000,000.00 $2,500,000.00 $3,000,000.00 $3,500,000.00 $4,000,000.00 $4,500,000.00 $5,000,000.00

211 BROWARD





CHILDREN'S FORUM



of 59


November 30, 2016 November 30, 2015

ASSETS

Assets:Cash 8,325,814$ 793,265$ Petty Cash 100 100 Advance, Interest & Accounts Receivable 8,159,672 16,783,023 Due From Other Agencies 3,811,758 3,813,325 Prepaid Expenses 51,499 43,829


Liabilities:Accounts Payable 89,280$ 18,301$ Salary & Fringe Benefits Payable 1,841 390 Due to 211 Broward 86,902 82,298 Due to Broward County School Board 154,681 137,793 Due to Broward Regional Health Planning Council 12,324,088 13,501,608 Due to Children's Forum 56,883 34,198 Due to Family Central, Inc. 143,427 229,049 Due to NSU 137,272 81,105 Due to Other Agencies 16,636.34 24,057.43 Deferred Revenue 6,962,695 6,976,916


Net Assets: (Note 3)Designated for eligible child care slots 114,994$ 114,994$ Equity in Fixed Assets 22,277 22,277 Fund Balance Undesignated 248,625 227,873

Net Assets 385,896$ 365,144$




As Of November 30, 2016

of 59

November 2016 Actual

FY 2017 YTD Actual

FY 2016 YTD Actual






School Readiness 3,564,737$ 18,445,367$ 20,661,037$ Voluntary Pre-kindergarten (Note 4) 3,612,123 15,731,795 15,304,470 Entrant Refugee Services BRHPC 13,756 61,861 Program support and administration 288,878.52 1,409,868 1,385,375 Community Transformation Grants/PFPP 2,301.95 344,785 45,061 Quality Enhancement Programs 68,142.06 397,763 301,731


Supporting services:General and administrative 124,087$ 711,262$ 653,128$


Total expenses 7,674,024.75 37,102,701 38,350,801

Change in net assets 14,529.62$ 33,809$ 11,654$





4

For The Month Ended November 30, 2016

of 59

ANNUAL BUDGET November Budget

November Actual Variance % of Monthly

Budget


Florida Department of Children & Fa -$ -$ 16,118$ 16,118$ N/A OEL State/Federal - SR 44,571,921 3,757,020 3,384,996 (372,024) 90%OEL State/Federal - CCEP 2,551,079 215,033 223,041 8,007 104%OEL State - VPK 35,155,653 2,963,312 3,639,614 676,303 123%OEL State - VPK Prepayment (Note 4) 5,150,376 434,131 (434,131) 0%Children's Services Council 5,092,850 429,282 403,927 (25,355) 94%Other Grants 999,961 84,288 2,302 (81,986) 3%Miscellaneous/Match 46,000 3,877 18,556 14,679 478.6%

Total Revenue 93,567,840$ 7,886,944$ 7,688,554$ (198,390)$ 97.48%


Resource & Referral - 211 593,639$ 50,039$ 39,115$ 10,924$ 78%VPK Resource & Referral - 211 48,077 4,052 3,311 742 82%SR Eligibility - DCF 12,046 1,015 1,158 (143) 114%SR Eligibility - BRHPC 3,088,743 260,354 254,632 5,722 98%VPK Eligibility - BRHPC 961,097 81,012 81,447 (435) 101%SR Slots 42,473,490 3,308,947 3,308,947 - 100%VPK Slots 38,662,955 3,744,115 3,530,676 213,439 94%DCF-Entrants Services 105,651 8,905 13,756 (4,850) 154%

Sub-Total Direct Services & Slots 85,945,698$ 7,458,440$ 7,233,041$ 225,399$ 97%Road To Child Outcomes - FCI 993,503 83,744 73,254 10,489 87%Road To Child Outcomes - NOVA 919,316 77,490 69,964 7,526 90%Road To Child Outcomes - BCSB 843,157 71,071 80,879 (9,808) 114%WAGES - Children's Forum 448,587 37,812 22,356 15,456 59%ELC ProviderMgmt & Screening 3IN 543,010 45,771 51,236 (5,465) 112%ELC Provider Quality CASI 342,128 28,838 12,291 16,547 43%ELC PQI & Data Mgmt 224,107 18,890 4,615 14,276 24%ELC Other Grants (UF/PFPP) 1,387,792 116,979 2,302 114,677 2%

Sub-Total Quality & Grants 5,701,600 480,595 316,897 163,698 66%

Total Program Expenses 91,647,298$ 7,939,035$ 7,549,938$ 389,097$ 95%

5



of 59

ANNUAL BUDGET November Budget

November Actual Variance % of Monthly

Budget



Administration:Employee Salaries 999,820$ 84,276$ 69,762$ 14,514$ 83%Employee Fringes 400,438 33,753 28,398 5,356 84%Legal Fees 62,250 5,247 6,163 (915) 117%Auditors 31,000 2,613 2,613 0%Accreditation Cost 400 34 400 (366) 1186%Other Consultants 40,800 3,439 3,125 314 91%Insurance 11,081 934 789 145 84%Travel 22,291 1,879 364 1,515 19%Repairs/Maint & Utilities 5,912 498 304 195 61%Rental - Equip & Facility 155,110 13,074 1,595 11,479 12%Communications 39,232 3,307 2,767 540 84%Advertising and Printing 18,000 1,517 - 1,517 0%Other: Supplies/Subscription, etc. 49,723 4,191 10,420 (6,229) 249%Depreciation 11,040 931 931 0%

Sub-Total Expenditures 1,847,097$ 155,694$ 124,087$ 31,607$ 80%



Total ELC Administration Expense 1,920,542 161,885 124,087 16,904 77%

Total Expenditures 93,567,840$ 8,100,920$ 7,674,025$ 406,000$ 95%


6

of 59



Budget

Variance From YTD

Target: 42%


FL Department of Children & Families -$ 71,187$ (71,187)$ N/A 0%OEL State/Federal - SR 44,571,921 19,203,544 25,368,377 43% 1%OEL State/Federal - CCEP 2,551,079 758,612 1,792,467 30% -12%OEL State - VPK 35,155,653 14,643,993 20,511,660 42% 0%OEL State - VPK Prepayment (Note 4) 5,150,376 1,287,604 3,862,772 25% -17%Children's Services Council 5,092,850 784,163 4,308,687 15% -26%Other Grants 999,961 346,086 653,875 35% -7%Miscellaneous 46,000 41,321 4,679 90% 48%

Total Revenue 93,567,840$ 37,136,511$ 56,431,329$ 40% -2%


Resource & Referral - 211 593,639$ 208,874$ 384,765$ 35% -6%VPK Resource & Referral - 211 48,077 16,995 31,082 35% -6%SR Eligibility - DCF 12,046 3,870 8,175 32% -10%SR Eligibility - BRHPC 3,088,743 1,101,999 1,986,744 36% -6%VPK Eligibility - BRHPC 961,097 354,198 606,899 37% -5%SR Slots 42,473,490 17,339,498 25,133,992 41% -1%VPK Slots 38,662,955 15,377,597 23,285,358 40% -2%DCF - Entrant Slots 105,651 61,861 43,790 59% 17%

Sub-Total Direct Services & Slots 85,945,698$ 34,464,892$ 51,480,805$ 40% -2%Road To Child Outcomes - FCI 993,503 367,708 625,795 37% -5%Road To Child Outcomes - NOVA 919,316 354,639 564,677 39% -3%Road To Child Outcomes - BCSB 843,157 283,563 559,594 34% -8%WAGES - Children's Forum 448,587 178,089 270,498 40% -2%ELC Provider Mgmt & Screening 543,010 192,044 350,966 35% -6%ELC Provider Quality 342,128 118,491 223,637 35% -7%ELC PQI & Data Mgmt 224,107 87,228 136,879 39% -3%ELC Other Grants (PICH/PFPP) 1,387,792 344,785 1,043,007 25% -17%

Sub-Total Quality & Grants 5,701,600 1,926,547 3,775,053 34% -8%Total Program Services 91,647,298$ 36,391,439$ 55,255,858$ 40% -2%


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Budget

Variance From YTD

Target: 42%



Administration:Employee Salaries 999,820$ 345,170$ 654,649$ 35% -7%Employee Fringes 400,438 122,857 277,581 31% -11%Legal Fees 62,250 23,875 38,375 38% -3%Auditors 31,000 28,000 3,000 90% 49%Accreditation Cost 400 400 - 100% 58%Other Consultants 40,800 34,861 5,939 85% 44%Insurance 11,081 3,941 7,140 36% -6%Travel 22,291 2,964 19,327 13% -28%Repairs/Maint & Utilities 5,912 1,773 4,139 30% -12%Rental - Equip & Facility 155,110 52,588 102,522 34% -8%Communications 39,232 11,838 27,394 30% -11%Advertising/Printing 18,000 11,022 6,978 61% 20%Other: Supplies/Subscription etc. 49,723 71,974 (22,251) 145% 103%Depreciation 11,040 - 11,040 0% -42%

Total Administration Expenses 1,847,097$ 711,262$ 1,135,835$ 39% -3%



1,920,542 711,262 1,209,280 37% -5%

Total Expenses 93,567,840$ 37,102,701$ 56,465,138$ 40% -2%

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(1)

(2)

(3)

(4)





Notes to the Financial Statements





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Early Learning Coalition of Broward County, Inc. Finance Committee Meeting

January 25, 2017

Subject: Initial Administrative Department Assessment

Background Information

In an effort to create a more efficient environment and fill operational gaps, ELC underwent a comprehensive reorganization. During that process, the CEO expressed concerns related to fiscal and contract operations and placed a high priority on making an assessment of risks and control issues and developing a plan for corrective action. An initial review of fiscal and contract operations conducted in December 2016 by the incoming Chief Administrative Officer at ELC has demonstrated the need for a comprehensive update and revision of the fiscal policy manual as well as the procedures related to it. It is expected to take six months to implement changes and present a finalized revision to the Governance Committee.

In particular, the following areas would benefit from improvements:

1. Cash and purchasing account control:

Cash disbursements and purchases are currently managed on an irregular, ad hoc schedule that allows little time for planning and careful review of the full cash in and outflow picture prior to deadlines or invoice due dates. Improvements will include (but will not be limited to):

• A structured cash “events” calendar,• A detailed monthly cash flow projection,• Better and more timely record-keeping in the financial database, and• A stronger culture of transparency and control, including staff training.

In the meantime, employee access to online cash transmission and purchasing portals has already been re-structured to:

• Implement dual custody and workflow authorization levels where ever possible;• Clean up user lists and permissions and develop a map that lists employee access

rights, identifies super-users and provides instructions for removing super-userswhen necessary for business continuity.

2. Purchasing, invoice and payment review/ authorization process:

The internal review and authorization process also lacks transparency and clear guidelines that staff need to ensure informed decision-making and efficiency at every

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level. The purchase order process is paper driven, poorly understood by staff, difficult to match against budgeting tools, difficult to track and sometimes results in partial, inaccurate or duplicate requests getting submitted hurriedly against looming deadlines. Invoice approval responsibilities are not formally assigned or well-understood by staff which creates a bureaucratic, sometimes chaotic collection of unnecessary forms and signatures. Cash disbursement authorization batches are not routinely scheduled with advance notice to signatories to ensure availability. Suggested improvements to these processes include: • Updates to policies and procedures to clarify authorization thresholds, delegation

of responsibilities, workflow and steps required for varying types of items. • Staff training on the policies, purpose and best practices for each step in the

purchasing process; • Implementation of existing electronic purchase order software with workflow

authorization and online tracking; • Direct coordination between purchase order system and budget line item tracking

tools with periodic review and updates; • Clearer standards for back up documentation that accompanies requests including

better background information and context; and • Fewer forms and coversheets to reduce confusing clutter.

3. Accounting, payroll processing and reporting:

In the inefficient environment created by the transaction bottlenecks described above, the task of recording transactions in the financial database has been relegated to a low priority and is frequently delayed at length, which in turn causes additional delays in financial reporting, budget/actual review, and cash flow analysis. Biweekly payroll, moreover, is processed twice using two separate, but parallel systems that require a lengthy manual reconciliation with one another; which particularly slows entry in the financial system and adds lag time to financial reporting. The pressure to complete reports on time, finally, leaves staff little or no opportunity to conduct routine monthly account reconciliations that are vital to catching errors and ensuring quality.

Suggested remedies to these problems include: • Comprehensive one-time clean-up of entry errors found for the entire fiscal year. • Systematic requirement to record transactions in the financial database close to

real time, within one business day of the triggering event, with particular emphasis on recording invoices due, cash events and invoices receivable;

• Cross-train staff in more than one portfolio of duties to ensure coverage and business continuity when individuals are on leave or behind schedule;

• Eliminate redundant payroll processing system and maximize capability of live system to automate payroll data transfer;

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• Implement monthly closing procedures to create fixed dates after which financial statements can be produced;

• Realign task distribution to improve segregation of duties and make logical assignments of reconciliation responsibilities;

• Upload and maintain annual budgets and reforecasts directly into the financial system;

• Create financial statement templates in the financial software to facilitate ad hoc analysis and automate monthly statement production;

• Allow program staff to view reports on demand using executive view access to promote organization wide engagement with financial data.

4. Contract tracking and compliance:

Prior to the recent reorganization at ELC, staff who were responsible for maintaining contract files did not coordinate or share records with staff who processed financial transactions related to contracts, and it was difficult for either party to know to the full compliance status of the record when making decisions. On the fiscal side in particular, this led to payments issued beyond the maximum payment limit of agreements, incomplete purchase orders, and difficulty creating contract performance reports for the Board and other customers.

While housing the contract oversight function within the Administrative Department has greatly improved communication and cooperation among staff, additional improvements are needed, such as:

• Creation of a user-friendly, systematic contract financial status tracker within the

contract file that lists transactions and captures up to date information on the status of deliverables, invoices, payments, advances and deferred revenue all within the financial constraints of the contract term;

• Integration of contract tracking with the invoice approval process to ensure disbursements are within contract parameters;

• Integration of contract tracking with the budgeting process to ensure that all appropriate staff participate in estimating revenues, cash flows, and expenses;

• Integration of contract performance data collection and analysis with contract compliance records;

• Cross training contract and fiscal staff in compliance matters from the perspective of their counterpart to synchronize and improve communication with each other as well as subcontractors.

5. Budget development and tracking

In addition to creating a more user-friendly and structured process for generating financial statements, ELC’s internal budget process will better assist the organizational decision making process if it is more systematically updated,

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transparent and better integrated with all other financial and contract management procedures. Proposed steps to be taken toward that goal include the following:

• A firm and transparent annual budget development and approval calendarestablished at the beginning of each fiscal year.

• A firm and transparent schedule for submission of first, second and third quarterforecasts to better inform development of the annual budget in the following year.

• A more transparent, user-friendly internal budgeting tool that allows for easy ad-hoc scenario modeling, detailed allocation by a variety of filters and integration withthe financial database, purchase order tracking system, and contract monitoringtools.

• Development of a simplified and transparent financial performance dashboard tocomplement presentation of utilization and other performance metrics in monthlyreporting.

• Development of a transparent, user-friendly annual cash flow budgets with monthlyreforecasting to reflect updates and actuals.

• Development of annual staffing plan budget with quarterly reforecasts as part ofthe overall budget package, including justifications for new positions, annualcompensation increase proposals, and reserve pools set aside for merit pay, asappropriate.

• Updates to the chart of accounts to simplify tracking of overall staff costs andimprove transparency on consulting and other service-related line items.

• Update the annual cost allocation methodology among state OCA codes to betterreflect level of effort on contracts and improve meaningfulness of staff time andattendance tracking.

Proposed Action: For Information Purposes Only

Supporting Documentation Attached: None

Financial Impact: None

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