NEW HYDE PARK-GARDEN CITY PARK
UNION FREE SCHOOL DISTRICT
Towns of North Hempstead and Hempstead
Annual Financial Report
Year Ending June 30, 2020
ANALYSIS OF GENERAL FUND BALANCE
Fund Balance – July 1, 2019 $ 11,862,122
Add: REVENUES
Real Property Taxes 29,122,799
Other Real Property Tax Items 3,230,410
State Sources 6,493,873
Other Sources 1,469,632
TOTAL REVENUES 40,316,714
Less: EXPENDITURES
General Support 4,476,399
Instruction 20,450,881
Pupil Transportation 805,704
Employee Benefits 9,489,087
Community Service 79,737
Debt Service 2,181,211
TOTAL EXPENDITURES 37,483,019
OTHER FINANCING SOURCES AND (USES)
Operating transfers in –
Operating transfers (out) (575,002)
TOTAL (575,002)
Fund Balance- June 30, 2020 $ 14,120,815
ANALYSIS OF SCHOOL LUNCH FUND BALANCE
Fund Balance – July 1, 2019 $ 100,480
Add: Sales 105,659
State/Federal Sources 162,551
Other Sources 479
TOTAL REVENUE 268,689
Less: Cost of Sales 304,402
Employee benefits 7,449
TOTAL EXPENDITURES 311,851
OTHER FINANCING SOURCES AND (USES)
Operating transfers in 36,236
Operating transfers (out) –
TOTAL 36,236
Fund Balance – June 30, 2020 $ 93,554
SPECIAL AID FUND – ANALYSIS OF REVENUE AND EXPENDITURES
Fund Balance – July 1, 2019 $ –
Add: REVENUES
Miscellaneous 28,076
State Sources 330,065
Federal Sources 560,083
TOTAL REVENUES 918,224
Less: EXPENDITURES
General Support
Pupil Transportation 38,378
Instruction 915,435
Employee Benefits 53,177
TOTAL EXPENDITURES 1,006,990
OTHER FINANCING SOURCES AND (USES)
Operating transfers in 88,766
Operating transfers (out) –
TOTAL 88,766
Fund Balance June 30, 2020 $ –
SPECIAL AID FUND – BALANCE SHEET JUNE 30, 2020
Cash-unrestricted $ 2,756 Accounts Payable $ 19,460
State and Federal Aid Receivable 362,455 Due to other govts –
Due to other funds 343,063
Collections in advance 2,688
Total Assets $ 365,211 Total Liabilities $ 365,211
TRUST AND AGENCY FUND – CASH BALANCE JUNE 30, 2020
CASH BALANCE – restricted July 1, 2019 $ 266,839
RECEIPTS 22,682,354
DISBURSEMENTS 22,639,973
CASH BALANCE – restricted June 30, 2020 $ 309,220
CAPITAL PROJECTS FUND CASH BALANCE
CASH BALANCE July 1, 2019 $ 2,594,680
RECEIPTS 450,000
DISBURSEMENTS 223,643
CASH BALANCE June 30, 2020 $ 2,821,037
CAPITAL PROJECTS FUND – BALANCE SHEET JUNE 30, 2020
Cash-unrestricted $ 1,279,642 Accounts payable $ 5,881
Cash-restricted 1,541,395 Due to other funds 5,348
Fund Balance 2,809,808
Total Assets $ 2,821,037 Total Liabilities $ 2,821,037
STATEMENT OF CAPITAL INDEBTEDNESS JUNE 30, 2020
BONDS PAYABLE
Library Serial $ 2,855,000
Construction Serial 4,305,000
Installment Purchase Bus/Van/Skid steer 115,405
TOTAL CAPITAL INDEBTEDNESS JUNE 30, 2020 $ 7,275,405
STATEMENT OF GENERAL FIXED ASSET ACCOUNTS JUNE 30, 2020
Land $ 3,142,368
Construction in Progress 672,869
Building & Building Improvements 42,947,924
Furniture and Equipment 2,036,222
Licensed Vehicles 630,557
Outdoor Improvements 912,766
50,342,706
Less: Accumulated Depreciation (18,565,123)
Capital Assets, net $ 31,777,583
The full text of the annual financial report in the form filed with the State Education
Department is available for public inspection during normal business hours at the Business Office
of the district located in the Manor Oaks building at 1950 Hillside Ave, New Hyde Park NY 11040
and can also be found on the district web site www.nhp-gcp.org.
