Friday, 07 November 2008 20:40
Priority: To operate with financial integrity, efficiency, and effectiveness
Indicator: Number of days cash on hand
Type of report: Bar graph
Report frequency: Monthly
Responsible for metric: Associate Superintendent of Operations and Quality
Distribution: Cabinet, Board of Education, and Community
When: Upon completion of the monthly financial report for the Board.
Comparatives: Annual metric for Moline, Springfield, State average. Data from the Illinois State Board of Education Financial profile score – days cash on hand (typically available in December after fiscal year end June 30).
Trending: Monthly metric capturing the most recent data points for the past five years
Data source: ISBE 50-35, calculation of district profile score – days cash on hand, for annual metric to compare to Moline, Springfield, and State Average.
The monthly metric is calculated by dividing the sum of cash and investments from the Education, O & M, and Transportation funds by the average daily expenses of these funds. Average daily expense is calculated by summing the expenditure budgets for Education, O & M, and Transportation funds and dividing by 360 days (this is the same formula used in calculating the days cash on hand for the Financial Profile Score).
Last Updated on Saturday, 08 November 2008 04:47