Detailed Definition

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).