This is the first installment of a series on the mysteries of the MMSD Budget.
Mystery #1: The MMSD received $$1,373,333 from a TEACH Grant Fund, and only spent $63,741. The budget document shows no other transfers or expeditures out of the $1,373,333. Where did the balance ($1,309,592) go?
To help solve this mystery, the revenue of $1,373,333 is shown on page 2 of the 2005-2006 Budget Financial Summaries. The expenditure of $63,741 is listed under expenditures for CFO/COO-Summary on page 50 of the same document.
Good sluething, all you Sherlock Holmes wannabe’s.
2 thoughts on “MMSD Budget Mysteries #1”
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Roger Price provided the answer:
MYSTERY SOLVED!!
Fund 23 which includes funds for Teach Grants is not balanced between revenues and expenditures in each separate fiscal year. Expenditures for projects that are Teach funded, such as wiring, are expended in Fund 23 pending receipt of state funds.
For example 03-04 had revenues of 127,742 and expenditures of 1,662,685. Since the expenditures were originally booked in fund 10 under the old accounting system, the report on page 236 does not show the total expenditures as was included in the final financial statements on file with DPI. The balance sheet on June 30, 2004 indicated a negative balance of 1,309,592.91.
The amount you identified was a Budget amount included the receivable of 1,309,592.91 and revenues to match the planned expenditures of 63,741.
Roger
I’m trying to follow your figures to be certain that we’ve solved this mystery.
I see that Fund 23 (Teach Grant Fund) had actual revenue of $127,742, as you said and according to the figures on page 239 of the 2005-2006 Budget & District Profile.
However, the document called 2005-2006 Budget Financial Summaries shows actual revenue of $234,570 in Fund 23 for 2003-2004.
So, what was the actual revenue for 2003-2004? Was it $127,742? Or was it $234,570?
Is this a new twist in MMSD Budget Mysteries #1?