FINANCIAL STATEMENTS NOVEMBER 2018

EXHIBIT T-2 SHAKER HEIGHTS CITY SCHOOL DISTRICT OFFICE OF THE TREASURER 15600 Parkland Drive Shaker Heights, Ohio 44120 (216) 295-4317 Bryan C. Christman Treasurer FINANCIAL STATEMENTS NOVEMBER 2018

INDEX SECTION # SECTION NAME 1. FINANCIAL AND MISCELLANEOUS BRIEFS 2. CHARTS 3. CONSOLIDATED INVESTMENT PORTFOLIO 4. FINANCIAL SUMMARY FOR GENERAL FUND 5. FINANCIAL REPORT BY BANK 6. FINANCIAL REPORT BY FUND 7. REVENUE ACCOUNT SUMMARY 8. BUDGET ACCOUNT SUMMARY 9. SUMMARY CHECK REGISTER ALL CHECKS 10. BOND ISSUE EXPENDITURE SUMMARY

1. FINANCIAL AND MISCELLANEOUS BRIEFS

SHAKER HEIGHTS BOARD OF EDUCATION SHAKER HEIGHTS, OHIO December 7, 2018 TO: FROM: SUBJECT: Members, Shaker Heights Board of Education Bryan C. Christman, Treasurer Financial and Miscellaneous Briefs I. NOVEMBER 2018 FINANCIAL OVERVIEW The revenue activity for the month and for the fiscal year-to-date November 2018 has been similar to the same reporting period for the prior year with the following exceptions: Real estate tax revenue received YTD this year was $2.8 million less than last year due to timing difference in advance amounts paid out by the County earlier this year due to accelerated tax payments in advance of the January 1, 2018 federal income tax law changes limiting state and local tax deductions. The first Shaker Plaza TIF payment of $386,036, including a catch-up payment for part of last year was received in September. Investment Earnings were $230,197 or 68.2% ahead of last fiscal year-to-date. Other Local revenue was $196,454 or 22.3% less than prior year due primarily to $332,736 less receipts from the State for the Fiscal 2018 SF-6, SF-14 & SF-14H payments as compared to the prior fiscal year for the same time period. The District is expected to receive approximately the same State Foundation funding in Fiscal 2019 as in Fiscal 2018 due to being on the guarantee funding method. The expenditure activity for the month and for the fiscal year-to-date November 2018 was $0.9 million or 2.2% less than the prior year amount due to timing differences in payments, expected growth in certain expenses, primarily salaries and fringe benefits, offset by a reduction in capital outlay expenditures. In summary the District s overall finances are on target with expectations at this time. II. NOVEMBER 2018 FINANCIAL DETAIL REVIEW A. GENERAL FUND (As of November 30, 2018) REVENUE 1. Real Estate Taxes: $2.8 million or 9.2% less than prior year-to-date; Variance from prior year due to timing difference in advance amounts paid out by the County earlier this year due to accelerated tax payments in advance of the January 1, 2018 federal income tax law changes limiting state and local tax deductions. Also included in this YTD receipts was the first Shaker Plaza TIF payment totaling $386,036 which included a catchup payment for part of last year. 42.1% of estimated amount received this year vs. 44.3% last year; $0.2 million or 0.9% above budget YTD primarily due to the receipt of the first Shaker Plaza TIF payment from the City, and

Financial & Miscellaneous Briefs December 7, 2018 Page 2 of 6 $0.2 million above budget as projected through the end of the fiscal year. 2. Investment Earnings: $567,929 received this year; $230,197 or 68.2% more than prior year; 51.6% of estimated amount received this year vs. 53.7% last year; $185,645 or 48.6% above budget for YTD; and $150,000 above budget as projected through the end of the fiscal year. Cash-basis interest income varies month-to-month and year-to-year due to the varying maturity dates of the investment portfolio; At their August 1, 2018 meeting, the Federal Open Market Committee (FOMC) decided in view of realized and expected labor market conditions and inflation, to maintain the target range for the federal funds rate at 1-3/4 to 2 percent. The stance of monetary policy remains accommodative, thereby supporting strong labor market conditions and a sustained return to 2 percent inflation. At their September 26 th meeting, in view of realized and expected labor market conditions and inflation, the FOMC decided to raise the target range for the federal funds rate to 2 to 2-1/4 percent. The Committee made no change at their November 8, 2018 meeting. We continue to monitor all aspects of our portfolio and the interest rate markets, in consultation with our investment advisor, the RedTree Investment Group. Market Updates for November include: The Federal Reserve is on pace to raise rates in December, however the path of further hikes is less certain. Overall market volatility increased in the past few weeks, as equity markets have erased gains for 2018. In 2019, a few of the major topics we will be watching are tariff status, political stability and fiscal spending. Operating Portfolio activity summary comments for this month include: Yield on invested securities increased by 13bps to 1.99% as a result of reinvestment and additional monies. The portfolio is structured to meet upcoming liquidity needs of the District. We added a longer-term position to the portfolio in November, As part of our ongoing strategy the portfolio could see further positions included in the account over the next few months. 2017 Bond Proceeds Portfolio activity summary comments for this month include: Yield on invested securities increased by 9bps to 2.65% in November due to reinvestment. The short-term positioning of this portfolio should reflect favorably in today s rising interest rate environment. As securities mature and are reinvested, RedTree will maintain communication on future spending needs. 2018 Bond Proceeds Portfolio activity summary comments for this month include: Yield increased by 12bps to 2.52%, as the portfolio reinvested maturing securities.. Portfolio is invested in commercial paper and US Treasury Notes. Similar to the 2017 Construction Funds account, RedTree will maintain communication and coordinate any upcoming spending needs.

Financial & Miscellaneous Briefs December 7, 2018 Page 3 of 6 3. Other Local Revenue: $196,454 or 22.3% less than prior year due primarily to $332,736 less receipts from the State for the Fiscal 2018 SF-6, SF-14 & SF-14H payments as compared to the prior fiscal year for the same time period. 33.7% of estimated amount received this year vs. 50.8% last year; $0.2 million or 52.6% above budget for YTD; but $0 above budget as projected through the end of the fiscal year. 4. State Foundation: $31,088 or 0.4% more than prior year; 42.2% of estimated amount received this year vs. 42.5% last year; $90,724 or 1.3% above budget for YTD; but $0 above budget as projected through the end of the fiscal year. State Foundation payments are merely estimates until the ADM counts are finalized and adjusted starting in January; however The District is expected to receive approximately the same funding in Fiscal 2019 as in Fiscal 2018 due to being on the guarantee funding method. 5. Homestead Exemption & Rollback (HERB): $981 or 0.0% more than prior year; 50.0% of estimated amount received this year vs. 49.7% last year; $981 or 0.0% above budget for YTD; but $0 above budget as projected through the end of the fiscal year. 6. Other State Revenue: $1,075 or 0.8% less than prior year. 13.9% of estimated amount received this year vs. 13.1% last year; $2,303 or 1.7% below budget for YTD; but $0 below budget as projected through the end of the fiscal year. 7. Federal Receipts: $31,464 or 53.6% less than prior year primarily due to the non-recurring September 2017 receipt of a $49,706 Medicaid reimbursement settlement payment delayed from the previous fiscal year. 7.7% of estimated amount received this year vs. 13.4% last year; $25,141 or 48.0% below budget for YTD; but $0 below budget as projected through the end of the fiscal year. 8. Total Revenue: $2.8 million or 6.4% less than prior year; Variance due primarily to timing difference in advance amounts paid out by the County earlier this year due to accelerated tax payments in advance of the January 1, 2018 federal income tax law changes limiting state and local tax deductions resulting in $2.8 million less this fiscal YTD. 42.4% of estimated amount received this year vs. 44.2% last year; $0.7 million or 1.8% above budget for YTD, but only $0.4 million or.40% above budget (excluding timing differences) as projected through the end of the fiscal year.

Financial & Miscellaneous Briefs December 7, 2018 Page 4 of 6 EXPENDITURES 9. Salaries & Wages: Payrolls averaged $2,332,699 YTD this year vs. $2,286,505 for prior YTD, for a 2.0% increase from last year s payrolls for the same number of year-to-date pay dates; Excluding sick leave severance payments, increase of 1.9% from prior year; Overall change reflects cumulative effect of contractual and step increases, retirements and replacements that went into effect over the last 12 months; YTD total salaries and wages (including severance payments) are $492,095 or 2.1% above prior year, different from above due to timing of grant fund chargebacks; Variance due to increased salary and wage costs; $27,525 or 0.1% above budget for YTD; but $0 above budget as projected through the end of the fiscal year. Classified overtime paid in November 2018 was $7,766 more than November 2017, while the cumulative YTD payments totaled $108,518 more than the prior YTD; Classified temporary wages this YTD are $39,677 higher than last YTD, while certified temporary wages this YTD are $3,065 higher than prior YTD; Sick leave severance payments increased by $24,222 or 13.3% to $206,891 through this YTD from $182,669 for prior YTD; Amount and timing of such payments vary from year to year depending on number of retirements. 10. Capital Outlay: $1.6 million or 55.7% less than prior YTD due to the Middle School roof project included in last fiscal year; $0.5 million or 62.1% above budget for YTD; and $0.5 million over budget as projected through the end of the year. 11. Total Expenditures: $0.9 million or 2.2% less than prior YTD; Variance due to timing differences in payments, expected growth in certain expenses, primarily salaries and fringe benefits, offset by a reduction in capital outlay expenditures; $0.4 million or 0.9% below budget for YTD; but $0.2 million above budget as projected through the end of the fiscal year. Encumbrances current month-end total of $12.5 million, which includes $3.6 million for out-of-district tuition, are $1.4 million more than prior year. Encumbrance variance primarily attributable to $0.3 million decrease in out-of-district tuition, $0.2 million increase in pupil transportation, $0.07 million increase in capital outlay, $0.5 million increase in textbooks, materials & supplies, and $0.7 million increase in professional & technical services. B. CASH BALANCES 1. Cash Balance: Cash balance reflects an increase of $6.6 million from that of one year ago. This is due to the $8.5 million higher beginning of year balance, decreased by the $1.9 million lower excess of revenues over expenditures for the current YTD vs. the prior YTD.

Financial & Miscellaneous Briefs December 7, 2018 Page 5 of 6 2. Cash Deficits - Grant Funds: The following cash deficits are due to a delay in the receipt of state or federal fund cash requests from the State: Fund 516 - $155,932; Fund 551 - $7,640; Fund 572 - $96,719; Fund 587 - $2,647; Fund 590 - $10,621 and Fund 599 - $398. 3. Cash Deficit Other: The Fund 009 cash deficit of $39,123 is due to the funding of the stored value purchasing cards that are used by the classroom teachers in purchasing items for the classroom (the $35 student activity fee collected at the start of school is the primary funding source for these expenditures). C. OTHER ITEMS 1. efinanceplus Conversion System Status Update: A combination of Human Resource and selected Treasurer Department staff attended multiple day-long conversion sessions at the NEOnet office in Cuyahoga Falls during the last month in furtherance of the conversion setup process which is in accordance with the published conversion schedule. 2. Health Insurance Renewals: On the agenda for the December Board meeting is a resolution to approve the renewal for the District s medical and dental self-insured rates for calendar 2019. We are continuing with the self-insured option for calendar 2019 and we will be funding our reserve utilizing the expected liability amounts to fund the reserve to the expected liability level. Both individual family and aggregate stop loss coverages are an integral part of our self-insurance option. As you may recall, 2019 will be our second year with Medical Mutual of Ohio (MMO) having switched from Anthem effective January 1, 2018. As part of the agreement reached last year with MMO, there will be no increase in the administrative claims processing rates in our second year. The total 2019 administrative cost component will however, reflect an increase due to a 10.0% increase (approximating $57,000) in the Specific Stop Loss (SSL) coverage premium at the same $200,000 current deductible level; and a 10.0% increase (approximating $2,000) in the Aggregate Stop Loss coverage premium at the same aggregate limit of 125% of expected claims. The administrative costs in total are estimated to approximate $989,000 for calendar 2019. As a result of the combination of 1) no increase in the administrative claims processing costs; 2) better than expected claims experience; and 3) the healthy balance of our self-insurance reserve, we are able to avoid an increase and instead maintain the existing funding rates for the medical insurance coverage for calendar 2019. The funding rates for the Anthem dental coverage will also remain unchanged for calendar 2019. Additionally on the December Board meeting agenda is a resolution authorizing the self-insured Express Scripts, Inc. (ESI) (coordinated through MMO) prescription drug premium rates for calendar 2019. As a result of the combination of 1) the lower script processing administrative costs achieved with the switch to the ESI program through MMO effective January 1, 2018; 2) better than expected claims experience; and 3) the healthy balance of our self-insurance reserve, we

Financial & Miscellaneous Briefs December 7, 2018 Page 6 of 6 are able to once again avoid an increase and instead maintain the existing funding rates for the prescription drug coverage for calendar 2019. On a combined basis, health insurance, dental and prescription drug rates for calendar 2019 reflect a composite 0.0% increase from the current rates.

2. CHARTS

SHAKER HEIGHTS CITY SCHOOL DISTRICT GENERAL FUND CASH BALANCE 2016-2017 2017-2018 2018-2019 $75,000,000 $70,000,000 $65,000,000 $60,000,000 $55,000,000 $50,000,000 $45,000,000 $40,000,000 $35,000,000 $30,000,000 $25,000,000 $20,000,000 $15,000,000 $10,000,000 $5,000,000 $0 JUN JUL AUG SEP OCT NOV DEC JAN FEB MAR APR MAY JUN November 30, 2018

SHAKER HEIGHTS CITY SCHOOL DISTRICT GENERAL FUND (Fiscal Year to Date) 2016-2017 2017-2018 2018-2019 $110,000,000 $100,000,000 $90,000,000 $80,000,000 $70,000,000 $60,000,000 $50,000,000 $40,000,000 $30,000,000 $20,000,000 $10,000,000 $0 RECEIPTS $40,769,641 EXPENDITURES $40,384,987 $66,639,658 November 30, 2018

SHAKER HEIGHTS CITY SCHOOL DISTRICT GENERAL FUND RECEIPTS 2016-2017 2017-2018 2018-2019 $28,000,000 $26,000,000 $24,000,000 $22,000,000 $20,000,000 $18,000,000 $16,000,000 $14,000,000 $12,000,000 $10,000,000 $8,000,000 $6,000,000 $4,000,000 $2,000,000 $0 JUL AUG SEP OCT NOV DEC JAN FEB MAR APR MAY JUN November 30, 2018

SHAKER HEIGHTS CITY SCHOOL DISTRICT GENERAL FUND EXPENDITURES 2016-2017 2017-2018 2018-2019 $10,000,000 $8,000,000 $6,000,000 $4,000,000 $2,000,000 $0 JUL AUG SEP OCT NOV DEC JAN FEB MAR APR MAY JUN November 30, 2018

3. CONSOLIDATED INVESTMENT PORTFOLIO

Monthly Investment Report November 2018 Operating Funds Call Maturity Trade Yield Wtd Security Coupon Date Date Date Quantity Cost Basis Market Value at Cost Maturity CASH STAR Ohio-General 11/30/2018 $3,707,824.27 $3,707,824.27 $3,707,824.27 2.32 0.00 Huntington - Operating 11/30/2018 $1,783,100.91 $1,783,100.91 $1,783,100.91 0.05 0.00 Cash Subtotal $5,490,925.18 $5,490,925.18 $5,490,925.18 1.58% 0.00 SHAKER HEIGHTS CASH TOTAL $5,490,925.18 $5,490,925.18 $5,490,925.18 1.58% 0.00 REDTREE OPERATING PORTFOLIO CERTIFICATES OF DEPOSIT Discover Bank, DE 1.95 6/4/2019 6/4/2014 $247,000.00 $247,000.00 $246,450.92 1.95 0.50 Barclay's Bank, DE 2.05 7/2/2019 7/2/2014 $247,000.00 $247,000.00 $246,331.62 2.05 0.58 American Express Nat'l Bank, UT (formerly AmE 2.05 7/31/2019 7/31/2014 $247,000.00 $247,000.00 $246,186.13 2.05 0.66 First Business Bank, WI 1.70 7/31/2019 7/31/2015 $247,000.00 $247,000.00 $245,695.84 1.70 0.66 Synchrony Bank, UT 2.05 8/1/2019 8/1/2014 $247,000.00 $247,000.00 $246,262.95 2.05 0.66 American Express Nat'l Bank, UT (formerly AmE 1.95 4/30/2020 4/30/2015 $247,000.00 $247,000.00 $243,695.39 1.95 1.38 CIT Bank, UT 2.30 7/30/2020 7/30/2015 $247,000.00 $247,000.00 $244,226.19 2.30 1.61 Capital One, National Assoc, Mclean, VA 2.30 8/5/2020 8/5/2015 $247,000.00 $247,000.00 $242,224.50 2.30 1.62 Wells Fargo Bank, SD 1.80 11/16/2021 11/14/2016 $249,000.00 $248,800.80 $238,777.30 1.82 2.83 Brokered Certificates of Deposit Subtotal $2,225,000.00 $2,224,800.80 $2,199,850.84 2.02% 1.16 COMMERCIAL PAPER BNP Paribas - 12/10/2018 8/10/2018 $500,000.00 $496,085.83 $499,780.00 2.33 0.03 Canadian Imp Holdings - 12/27/2018 6/27/2018 $2,000,000.00 $1,975,531.12 $1,996,960.00 2.45 0.07 TD USA - 1/28/2019 9/26/2018 $2,050,000.00 $2,032,979.30 $2,041,861.50 2.47 0.16 Canadian Imp Holdings - 2/26/2019 8/29/2018 $400,000.00 $395,140.00 $397,468.00 2.46 0.24 TD USA - 2/27/2019 8/27/2018 $865,000.00 $854,389.33 $859,464.00 2.43 0.25 JP Morgan - 3/20/2019 9/24/2018 $800,000.00 $789,970.00 $793,488.00 2.58 0.30 Toyota Motor Credit - 3/25/2019 9/25/2018 $600,000.00 $592,530.00 $594,888.00 2.52 0.32 Canadian Imp Holdings - 3/26/2019 9/26/2018 $600,000.00 $592,517.80 $594,840.00 2.54 0.32 Natixis NY - 3/27/2019 9/26/2018 $840,000.00 $829,290.00 $832,708.80 2.58 0.32 ING US CP - 4/26/2019 10/30/2018 $1,000,000.00 $986,699.44 $988,800.00 2.73 0.40 MUFG Bank - 5/29/2019 11/29/2018 $1,500,000.00 $1,478,475.00 $1,479,135.00 2.91 0.49 Natixis NY - 5/29/2019 11/28/2018 $2,000,000.00 $1,971,442.22 $1,972,180.00 2.88 0.49 JP Morgan - 6/18/2019 11/20/2018 $1,300,000.00 $1,278,247.75 $1,279,512.00 2.96 0.55 BNP Paribas - 6/21/2019 11/27/2018 $3,000,000.00 $2,952,060.00 $2,952,000.00 2.87 0.55 TD USA - 6/21/2019 11/28/2018 $1,300,000.00 $1,279,005.00 $1,279,200.00 2.90 0.55 Toyota Motor Credit - 6/24/2019 11/26/2018 $1,200,000.00 $1,180,260.00 $1,180,512.00 2.87 0.56 Commercial Paper Subtotal $19,955,000.00 $19,684,622.79 $19,742,797.30 2.71% 0.38 MONEY MARKET FUNDS First American Treasury Obligations Fund 11/30/2018 $33,489.05 $33,489.05 $33,489.05 2.12 0.00 Money Market Subtotal $33,489.05 $33,489.05 $33,489.05 2.12% 0.00 U.S. TREASURY BILLS US Treasury Bill 0.00 2/28/2019 8/30/2018 $600,000.00 $593,291.79 $596,639.40 2.24 0.25 US Treasury Bill 0.00 3/28/2019 9/25/2018 $1,000,000.00 $988,238.76 $992,445.00 2.35 0.33 US Treasury Bill 0.00 4/25/2019 10/30/2018 $2,000,000.00 $1,976,572.44 $1,980,616.00 2.42 0.40 US Treasury Bill 0.00 5/30/2019 11/29/2018 $3,500,000.00 $3,456,693.24 $3,457,384.00 2.49 0.50 U.S. Treasury Bills Subtotal $7,100,000.00 $7,014,796.23 $7,027,084.40 2.43% 0.43 U.S. TREASURY NOTES US Treasury Note 0.87 6/15/2019 10/30/2018 $6,765,000.00 $6,696,648.65 $6,703,695.57 2.56 0.53 U.S. Treasury Notes Subtotal $6,765,000.00 $6,696,648.65 $6,703,695.57 2.56% 0.53 U.S. GOVERNMENT AGENCY NOTES Federal Home Ln Mtg 1.12 4/15/2019 3/18/2016 $4,505,000.00 $4,503,256.55 $4,482,677.72 1.14 0.37 Federal Home Ln Mtg 1.30 2/24/2019 5/24/2019 7/14/2016 $2,855,000.00 $2,855,000.00 $2,837,216.20 1.30 0.48 Federal Natl Mtg Assoc 1.25 12/28/2018 6/28/2019 6/27/2016 $3,500,000.00 $3,500,000.00 $3,472,570.50 1.25 0.57 Federal Home Ln Mtg 0.87 7/19/2019 7/26/2016 $4,855,000.00 $4,836,761.45 $4,802,002.82 1.00 0.63 Federal Home Ln Bank 0.87 8/5/2019 8/8/2016 $3,000,000.00 $2,989,200.00 $2,964,330.00 1.00 0.67 Federal Natl Mtg Assoc 1.42 1/27/2019 7/27/2020 7/25/2016 $2,000,000.00 $2,000,000.00 $1,949,882.00 1.42 1.61 Federal Natl Mtg Assoc 1.40 2/28/2019 8/28/2020 8/26/2016 $3,700,000.00 $3,700,000.00 $3,603,918.40 1.40 1.70 Federal Farm Credit Bank 1.54 12/7/2018 10/19/2020 8/29/2016 $3,280,000.00 $3,280,000.00 $3,201,621.12 1.54 1.84 Federal Natl Mtg Assoc 1.60 2/24/2019 8/24/2021 8/26/2016 $3,380,000.00 $3,380,000.00 $3,251,556.62 1.60 2.63 Federal Home Ln Mtg 3.15 11/15/2019 11/15/2021 11/1/2018 $1,000,000.00 $1,000,000.00 $1,000,840.00 3.15 2.80 U.S. Government Agency Notes Subtotal $32,075,000.00 $32,044,218.00 $31,566,615.38 1.33% 1.16 REDTREE OPERATING PORTFOLIO TOTAL $68,153,489.05 $67,698,575.52 $67,273,532.54 1.99% 0.79 1

Monthly Investment Report November 2018 Bond Proceeds Accounts Call Maturity Settle Yield Wtd Security Coupon Date Date Date Quantity Cost Basis Market Value at Cost Maturity REDTREE 2017 BOND PROCEEDS PORTFOLIO COMMERCIAL PAPER Canadian Imp Holdings - 12/27/2018 6/27/2018 $1,000,000.00 $987,765.56 $998,480.00 2.45 0.07 Credit Agricole NY - 3/29/2019 11/29/2018 $300,000.00 $297,302.67 $297,351.00 2.74 0.33 Toyota Motor Credit - 4/17/2019 10/10/2018 $2,400,000.00 $2,368,040.00 $2,374,800.00 2.58 0.38 Canadian Imp Holdings - 4/26/2019 10/26/2018 $500,000.00 $493,262.64 $494,400.00 2.75 0.4 ING US CP - 4/26/2019 10/30/2018 $1,000,000.00 $986,699.44 $988,800.00 2.73 0.4 BNP Paribas - 4/29/2019 10/29/2018 $1,000,000.00 $986,274.17 $988,570.00 2.77 0.41 Natixis NY - 4/29/2019 10/30/2018 $450,000.00 $443,970.00 $444,856.50 2.72 0.41 BNP Paribas - 6/21/2019 11/27/2018 $500,000.00 $492,010.00 $492,000.00 2.87 0.55 JP Morgan - 6/25/2019 11/28/2018 $200,000.00 $196,602.67 $196,736.00 2.99 0.57 Commercial Paper Subtotal $7,350,000.00 $7,251,927.15 $7,275,993.50 2.67% 0.36 MONEY MARKET FUNDS First American Treasury Obligations Fund 11/30/2018 $16,300.83 $16,300.83 $16,300.83 2.12 0.00 Money Market Subtotal $16,300.83 $16,300.83 $16,300.83 2.12% 0.00 U.S. TREASURY BILLS US Treasury Bill 11/30/2018 $460,000.00 $454,611.66 $454,627.66 2.42 0.48 U.S. Treasury Bills Subtotal $460,000.00 $454,611.66 $454,627.66 2.42% 0.48 U.S. TREASURY NOTES US Treasury Note 0.87 6/15/2019 11/8/2018 $560,000.00 $554,378.13 $554,925.28 2.57 0.53 U.S. Treasury Notes Subtotal $560,000.00 $554,378.13 $554,925.28 2.57% 0.53 REDTREE 2017 BOND PROCEEDS PORTFOLIO TOTAL $8,386,300.83 $8,277,217.77 $8,301,847.27 2.65% 0.37 REDTREE 2018 BOND PROCEEDS PORTFOLIO COMMERCIAL PAPER JP Morgan - 1/17/2019 7/18/2018 $1,070,000.00 $1,056,674.04 $1,066,586.70 2.48 0.13 JP Morgan - 2/5/2019 8/9/2018 $700,000.00 $691,542.25 $696,668.00 2.46 0.19 JP Morgan - 2/19/2019 8/22/2018 $350,000.00 $345,747.50 $347,966.50 2.46 0.22 Natixis NY - 2/25/2019 7/30/2018 $400,000.00 $394,260.00 $397,500.00 2.50 0.24 Canadian Imp Holdings - 2/26/2019 8/29/2018 $720,000.00 $711,252.00 $715,442.40 2.46 0.24 TD USA - 2/27/2019 8/27/2018 $720,000.00 $711,168.00 $715,392.00 2.43 0.25 JP Morgan - 3/20/2019 9/24/2018 $600,000.00 $592,477.50 $595,116.00 2.58 0.3 MUFG Bank - 3/27/2019 9/27/2018 $715,000.00 $705,991.00 $708,793.80 2.55 0.32 Natixis NY - 3/27/2019 9/26/2018 $1,330,000.00 $1,313,042.50 $1,318,455.60 2.58 0.32 ING US CP - 4/26/2019 10/30/2018 $2,000,000.00 $1,973,398.88 $1,977,600.00 2.73 0.4 Toyota Motor Credit - 5/13/2019 10/29/2018 $800,000.00 $788,300.00 $789,872.00 2.74 0.45 MUFG Bank 5/29/2019 11/29/2018 $2,250,000.00 $2,217,712.50 $2,218,702.50 2.91 0.49 - Commercial Paper Subtotal $11,655,000.00 $11,501,566.17 $11,548,095.50 2.64% 0.33 MONEY MARKET FUNDS First American Treasury Obligations Fund 11/30/2018 $47,442.44 $47,442.44 $47,442.44 2.12 0.00 Money Market Subtotal $47,442.44 $47,442.44 $47,442.44 2.12% 0.00 U.S. Treasury Notes US Treasury Note 1.50 12/31/2018 4/11/2018 $2,800,000.00 $2,788,953.13 $2,798,418.00 2.05 0.08 - U.S. Treasury Notes Subtotal $2,800,000.00 $2,788,953.13 $2,798,418.00 2.05% 0.08 REDTREE 2018 BOND PROCEEDS PORTFOLIO TOTAL $14,502,442.44 $14,337,961.74 $14,393,955.94 2.52% 0.28 REDTREE INVESTMENT PORTFOLIO's TOTAL $91,042,232.32 $90,313,755.03 $89,969,335.75 2.14% 0.67 SHAKER HEIGHTS GRAND TOTAL $96,533,157.50 $95,804,680.21 $95,460,260.93 2.18% 0.63 2

Monthly Summary November 2018 Market Update The Federal Reserve is on pace to raise rates this month, however the path of further hikes is less certain. Overall market volatility increased in the past few weeks, as equity markets have erased gains for 2018. In 2019, a few of the major topics we are watching are tariff status, political stability and fiscal spending. Operating Portfolio: Summary of Monthly Activity Yield on invested securities increased by 13bps to 1.99% as a result of reinvestment and additional monies. The portfolio is structured to meet upcoming liquidity needs of the District. We added a longer-term position to the portfolio in November, As part of our ongoing strategy the portfolio could see further positions included in the account over the next few months. 2017 Bond Proceeds: Summary of Monthly Activity Yield on invested securities increased by 9bps to 2.65% in November due to reinvestment. The short-term positioning of this portfolio should reflect favorably in today s rising interest rate environment. As securities mature and are reinvested, RedTree will maintain communication on future spending needs. 2018 Bond Proceeds: Summary of Monthly Activity Yield increased by 12bps to 2.52%, as the portfolio reinvested maturing securities.. Portfolio is invested in commercial paper and US Treasury Notes. Similar to the 2017 Construction Funds account, RedTree will maintain communication and coordinate any upcoming spending needs. Months to Maturity 3.00% 2.50% 2.00% 1.50% 1.00% 0.50% 0.00% >36 24-36 12-24 < 12 $- $4,629,000 $9,721,000 Maturity Distribution $82,183,158 $0 $25,000,000 $50,000,000 $75,000,000 $100,000,000 2.18% 2.32% Yield Comparison 0.05% Shaker Heights Star Ohio *Huntington Earnings Credit 2.63% US Treas 1yr BAML Index 33% 18% 6% Investment Allocation 40% 2% Money Market Funds Commercial Paper Certificates of Deposit US Agency Notes US Treasury Securities *Earnings credit to offset bank charges; does not pay actual interest 3

Monthly Transaction Summary Operating Portfolio November 2018 Redeemed Securities : Sales, Calls, and Maturities Security CUSIP Transaction Date Original Cost Basis Income Received Credit Agricole NY CP 11/5/2018 22533UL50 11/5/2018 $1,884,545.08 $15,454.92 FHLB DN 11/7/2018 313385N51 11/7/2018 $3,203,643.68 $1,352.32 FNMA 1.15% 11/13/2018 3136G2S24 11/13/2018 $750,000.00 $4,312.50 US Treasury Bill 2/28/2019 912796PT0 11/15/2018 $19,776.39 $88.15 Comenity Capital Bank 11/19/2018 20033AJG2 11/19/2018 $249,000.00 $405.22 JP Morgan 11/20/2018 46590ELL0 11/20/2018 $1,729,668.40 $20,331.60 Toyota Motor 11/23/2018 89233HLP7 11/23/2018 $1,488,447.09 $11,552.91 FHLB DN 11/26/2018 313385Q82 11/26/2018 $999,701.39 $298.61 Natixis NY CP 11/26/2018 63873KLS4 11/26/2018 $1,980,166.66 $19,833.34 BNP Paribas CP 11/27/2018 09659CLT3 11/27/2018 $639,953.41 $5,046.59 MUFG Bank CP 11/27/2018 62479MLT8 11/27/2018 $3,465,124.45 $34,875.55 TD USA CP 11/28/2018 89119BLU8 11/28/2018 $1,683,238.00 $16,762.00 BNP Paribas CP 11/29/2018 09659KLV0 11/29/2018 $1,980,025.00 $19,975.00 MUFG Bank CP 11/30/2018 62479MLW1 11/30/2018 $253,003.78 $1,996.22 Total Redeemed Securities $20,326,293.33 $152,284.93 Purchased Securities Security CUSIP Transaction Date Cost Basis Projected Annual Income FHLMC 3.15% 11/15/2021 3134GSA96 11/15/2018 $1,000,000.00 $31,500.00 US Treasury Note 6/15/2019 912828R85 11/8/2018 $4,850,808.61 $92,066.39 JP Morgan CP 6/18/2019 46640QTJ0 11/23/2018 $1,278,247.75 $21,752.25 FHLB DN 11/26/2018 313385Q82 11/21/2018 $997,701.39 $298.61 Toyota Motor CP 6/24/2019 89233HTQ7 11/26/2018 $1,180,260.00 $19,740.00 BNP Paribas CP 6/21/2019 09659KSV0 11/29/2018 $2,952,060.00 $47,940.00 Natixis NY CP 5/29/2019 63873KSV0 11/29/2018 $1,971,442.22 $28,557.78 TD USA CP 6/21/2019 89119BTM8 11/29/2018 $1,279,005.00 $20,995.00 MUFG CP Bank 5/29/2019 62479MSV6 11/30/2018 $1,478,475.00 $21,525.00 US Treasury Bill 5/30/2019 912796RR2 11/30/2018 $3,456,693.24 $43,306.76 Total Security Purchases $20,446,693.21 $327,681.79 Interest Earnings Received Asset Class Total Income Received Cash (Star Ohio, Star Plus, Huntington) $14,430.50 Money Market Funds $320.26 Commercial Paper + Bankers Acceptances $145,828.13 Certificates of Deposit $782.88 U.S. Agency Notes $24,520.93 U.S. Treasury Notes ($17,014.99) Total Interest Earnings for the period $168,867.71 Realized Gains and Losses Security Total Realized Gains and Losses N/A for November Total Realized Gains and Losses for the period 4

Monthly Transaction Summary 2017 Bond Proceeds November 2018 Redeemed Securities : Sales, Calls, and Maturities Security CUSIP Transaction Date Original Cost Basis Income Received Credit Agricole NY CP 11/5/2018 22533UL50 11/5/2018 $545,526.21 $4,473.79 BNP Paribas CP 11/29/2018 09659KLV0 11/29/2018 $990,012.50 $9,987.50 Total Redeemed Securities $1,535,538.71 $14,461.29 Purchased Securities Security CUSIP Transaction Date Cost Basis Projected Annual Income US Treasury Note 0.875% 6/15/2019 912828R85 11/8/2018 $554,378.13 $10,521.87 BNP Paribas CP 6/21/2019 09659CTM0 11/29/2018 $492,010.00 $7,990.00 JP Morgan CP 6/25/2019 46640QTR2 11/29/2018 $196,602.67 $3,397.33 Credit Agricole NY CP 3/29/2019 22533UQV8 11/30/2018 $297,302.67 $2,697.33 Total Security Purchases $1,540,293.47 $24,606.53 Interest Earnings Received Asset Class Total Income Received Money Market Funds $756.62 US Treasury Note s ($1,954.64) Commercial Paper $14,461.29 Total Interest Earnings for the period $13,263.27 Realized Gains and Losses Security Total Realized Gains and Losses N/A for November Total Realized Gains and Losses for the period $0 5

Monthly Transaction Summary 2018 Bond Proceeds November 2018 Redeemed Securities : Sales, Calls, and Maturities Security CUSIP Transaction Date Original Cost Basis Income Received MUFG Bank CP 11/30/2018 62479MLW1 11/30/2018 $535,772.70 $4,227.30 US Treasury Note 11/30/2018 912828A34 11/30/2018 $1,692,031.25 $10,625.00 Total Redeemed Securities $2,227,803.95 $14,852.30 Purchased Securities Security CUSIP Transaction Date Cost Basis Projected Annual Income MUFG Bank CP 5/29/2019 62478MSV6 11/30/2018 $2,217,712.50 $32,287.50 Total Security Purchases $2,217,712.50 $32,287.50 Interest Earnings Received Asset Class Total Income Received Money Market Funds $1,386.11 Commercial Paper $4,227.30 US Treasury Note $10,625.00 Total Interest Earnings for the period $16,238.41 Realized Gains and Losses Security Total Realized Gains and Losses US Treasury Note 11/30/2018 $7,968.75 Total Realized Gains and Losses for the period $7,968.75 6

4. FINANCIAL SUMMARY FOR GENERAL FUND

Shaker Heights City School District Financial Statement-General Fund Fiscal Year Ending June 30, 2019 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 A B CD E F G H I J K L M N O P Q R Month of November Year-To-Date November Year-To-Date November Actual F19 Actual F18 $ Inc(Dec) %Inc(Dec) Actual F19 Actual F18 $ Inc(Dec) %Inc(Dec) YTDBud.F19 $ Inc(Dec) %Inc(Dec) REVENUE: Real Estate Taxes $0 $0 $0 #DIV/0! $27,672,773 $30,480,671 ($2,807,898) -9.2% $27,439,338 $233,435 0.9% Personal Property Taxes 0 0 0 #DIV/0! 0 0 0 #DIV/0! 0 0 #DIV/0! Investment Earnings 167,547 97,791 69,756 71.3% 567,929 337,732 230,197 68.2% 382,284 185,645 48.6% Other Local 93,967 45,656 48,311 105.8% 684,592 881,046 (196,454) -22.3% 448,658 235,934 52.6% State Foundation 1,428,398 1,422,639 5,759 0.4% 7,301,559 7,270,471 31,088 0.4% 7,210,835 90,724 1.3% Homestead Exemption & RollBack 0 0 0 #DIV/0! 4,378,375 4,377,394 981 0.0% 4,377,394 981 0.0% Other State 0 0 0 #DIV/0! 137,172 138,247 (1,075) -0.8% 139,475 (2,303) -1.7% Federal-primarily Medicaid reimb. 10,692 8,141 2,551 31.3% 27,241 58,705 (31,464) -53.6% 52,382 (25,141) -48.0% Transfers & Advances In 0 0 0 #DIV/0! 0 0 0 #DIV/0! 0 0 #DIV/0! TOTAL REVENUE 1,700,604 1,574,227 126,377 8.0% 40,769,641 43,544,266 (2,774,625) -6.4% 40,050,366 719,275 1.8% 0 0 0 0 0 0 0 0 EXPENDITURES: Salaries & Wages 4,819,608 4,795,473 24,135 0.5% 23,453,051 22,960,956 492,095 2.1% 23,425,526 27,525 0.1% Fringe Benefits: Health Insurance 756,501 750,235 6,266 0.8% 3,941,792 3,735,389 206,403 5.5% 3,955,000 (13,208) -0.3% Retirement Expense 753,147 748,906 4,241 0.6% 3,706,477 3,681,407 25,070 0.7% 3,719,000 (12,523) -0.3% All Other Fringes 132,579 116,469 16,110 13.8% 595,006 579,172 15,834 2.7% 598,794 (3,788) -0.6% Total Fringe Benefits 1,642,227 1,615,610 26,617 1.6% 8,243,275 7,995,968 247,307 3.1% 8,272,794 (29,519) -0.4% Purchased Services: 0 0 0 0 Utilities 133,635 117,871 15,764 13.4% 541,701 493,534 48,167 9.8% 525,728 15,973 3.0% Out-of-District Tuition 388,695 356,927 31,768 8.9% 1,708,051 1,854,653 (146,602) -7.9% 1,947,371 (239,320) -12.3% Pupil Transportation 56,747 108,706 (51,959) -47.8% 314,187 362,783 (48,596) -13.4% 381,026 (66,839) -17.5% Repairs & Maintenance 43,291 20,094 23,197 115.4% 292,331 392,722 (100,391) -25.6% 408,377 (116,046) -28.4% All Other Purchased Services 528,672 345,751 182,921 52.9% 2,152,014 1,792,588 359,426 20.1% 2,150,297 1,717 0.1% Total Purchased Services 1,151,040 949,349 201,691 21.2% 5,008,284 4,896,280 112,004 2.3% 5,412,799 (404,515) -7.5% Textbooks, Materials & Supplies 180,670 187,543 (6,873) -3.7% 1,646,593 1,722,184 (75,591) -4.4% 1,976,568 (329,975) -16.7% Capital Outlay 409,546 879,534 (469,988) -53.4% 1,270,711 2,866,201 (1,595,490) -55.7% 784,123 486,588 62.1% Other-primarily Cty.Aud.&Treas.Fees 24,589 9,775 14,814 151.5% 663,073 747,431 (84,358) -11.3% 773,097 (110,024) -14.2% Transfers & Advances Out 0 0 0 #DIV/0! 100,000 100,000 0 0.0% 100,000 0 0.0% TOTAL EXPENDITURES 8,227,680 8,437,284 (209,604) -2.5% 40,384,987 41,289,020 (904,033) -2.2% 40,744,907 (359,920) -0.9% 0 0 0 0 0 0 0 0 Net Revenues/(Expenditures) (6,527,076) (6,863,057) 335,981-4.9% 384,654 2,255,246 (1,870,592) -82.9% (694,541) 1,079,195-155.4% Cash, Beginning of Period 63,148,522 56,888,267 6,260,255 11.0% 56,236,792 47,769,964 8,466,828 17.7% 56,236,792 0 0.0% Cash, End of Month 56,621,446 50,025,210 6,596,236 13.2% 56,621,446 50,025,210 6,596,236 13.2% 55,542,251 1,079,195 1.9% 0 0 0 0 0 0 0 Less O/S Encumbrances 12,451,279 11,042,782 1,408,497 12.8% 12,451,279 11,042,782 1,408,497 12.8% 11,000,000 1,451,279 13.2% Less Budget Reserve 353,070 353,070 0 0.0% 353,070 353,070 0 0.0% 353,070 0 0.0% Fund Balance, End of Month $43,817,097 $38,629,358 $5,187,739 13.4% $43,817,097 $38,629,358 $5,187,739 13.4% $44,189,181 ($372,084) -0.8% 0 0 0 0 0 0 0.0% 0 0 0.0% Total General Obligation Debt Outstanding $42,444,310 $15,979,309 0 0 FS05Nov18 Rev12-08-18/SummaryF19 12/8/2018

SHAKER HEIGHTS CITY SCHOOL DISTRICT General Fund-Budget by Month Fiscal Year Ending June 30, 2019 FS05Nov18 Rev12-08-18 F19MvgMthlyBudget 12/8/2018 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 A B AA AB AC AD AE AF AG AH AI AJ AK AL AM AN AP AQ BUDGET BUDGET BUDGET BUDGET Adopted Var Fav/(Unfav) Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Var. Deemed Total Budget Deemed REVENUE: Actual Actual Actual Actual Actual Budget Budget Budget Budget Budget Budget Budget Temporary Rev.Proj. Permanent Real Estate Taxes $17,167,000 $10,119,737 $386,036 $0 $0 $0 $13,585,235 $20,170,351 $3,692,627 $0 $821,002 $0 1,565 $65,943,553 $65,708,553 $235,000 Personal Property Taxes 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Investment Earnings 118,741 114,533 71,890 95,218 167,547 116,692 67,999 101,522 22,540 84,629 130,178 194,156 (35,645) 1,250,000 1,100,000 150,000 Other Local 45,472 385,773 83,399 75,981 93,967 928,327 37,635 52,268 258,644 96,455 95,714 112,299 (235,934) 2,030,000 2,030,000 0 State Foundation 1,449,034 1,447,522 1,544,466 1,432,139 1,428,398 1,442,167 1,442,167 1,442,167 1,442,167 1,442,167 1,442,167 1,442,163 (90,724) 17,306,000 17,306,000 0 Homestead Exemption & RollBack 0 0 4,378,375 0 0 0 0 0 0 0 4,372,020 0 (981) 8,749,414 8,749,414 0 Other State 0 132,281 4,891 0 0 0 123,144 0 0 0 0 725,381 2,303 988,000 988,000 0 Federal-primarily Medicaid reimb. 10,138 0 0 6,411 10,692 11,463 5,856 10,328 242,944 10,705 7,089 12,233 25,141 353,000 353,000 0 Transfers & Advances In 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 TOTAL REVENUE 18,790,385 12,199,846 6,469,057 1,609,749 1,700,604 2,498,649 15,262,036 21,776,636 5,658,922 1,633,956 6,868,170 2,486,232 (334,275) 96,619,967 96,234,967 385,000 EXPENDITURES: Salaries & Wages 4,707,618 4,665,699 4,634,385 4,625,741 4,819,608 4,834,331 4,700,419 4,678,454 4,762,975 4,731,236 4,703,236 5,297,823 (27,525) 57,134,000 57,134,000 0 Fringe Benefits: Health Insurance 799,754 821,494 793,940 770,104 756,501 770,000 797,500 797,500 797,500 797,500 797,500 796,500 (151,793) 9,344,000 9,509,000 165,000 Retirement Expense 748,803 726,169 741,648 736,709 753,147 767,000 746,000 743,000 756,000 751,000 746,000 840,000 12,524 9,068,000 9,068,000 0 All Other Fringes 113,766 116,732 123,191 108,738 132,579 116,689 222,705 131,317 126,790 111,858 110,197 131,650 3,788 1,550,000 1,550,000 0 Total Fringe Benefits 1,662,323 1,664,395 1,658,779 1,615,551 1,642,227 1,653,689 1,766,205 1,671,817 1,680,290 1,660,358 1,653,697 1,768,150 (135,481) 19,962,000 20,127,000 165,000 Purchased Services: 15.87% 15.87% Utilities 84,140 101,636 103,758 118,532 133,635 118,817 106,438 98,515 97,659 105,622 102,947 101,274 (15,973) 1,257,000 1,257,000 0 Out-of-District Tuition 335,005 539,879 165,056 279,415 388,695 470,727 262,714 268,218 642,410 406,297 448,172 521,091 239,321 4,967,000 4,967,000 0 Pupil Transportation 75,179 45,022 52,894 84,345 56,747 118,840 29,209 190,346 128,905 109,664 166,736 195,274 66,839 1,320,000 1,320,000 0 Repairs & Maintenance 44,593 22,024 119,919 62,503 43,291 63,878 28,686 101,465 20,896 56,164 24,006 38,528 116,047 742,000 742,000 0 All Other Purchased Services 321,016 310,336 254,161 737,831 528,672 532,920 322,447 566,137 357,106 525,706 370,822 614,165 (1,719) 5,439,600 5,439,600 0 Total Purchased Services 859,933 1,018,897 695,788 1,282,626 1,151,040 1,305,182 749,494 1,224,681 1,246,976 1,203,453 1,112,683 1,470,332 404,515 13,725,600 13,725,600 0 Textbooks, Materials & Supplies 350,034 409,699 414,420 291,770 180,670 184,641 128,446 186,404 125,778 229,731 161,880 195,552 229,975 3,089,000 3,189,000 100,000 Capital Outlay 220,674 219,400 88,170 332,921 409,546 20,581 64,231 19,978 85,499 17,010 4,904 3,674 13,412 1,500,000 1,000,000 (500,000) Other-primarily Cty.Aud.&Treas.Fees 102,896 491,748 9,869 33,971 24,589 308,656 21,005 16,705 885,566 51,478 11,470 28,298 110,024 2,096,275 2,096,275 0 Transfers & Advances Out 0 0 100,000 0 0 0 85,000 0 0 0 105,000 0 0 290,000 290,000 0 TOTAL EXPENDITURES 7,903,478 8,469,838 7,601,411 8,182,580 8,227,680 8,307,080 7,514,800 7,798,039 8,787,084 7,893,266 7,752,870 8,763,829 594,920 97,796,875 97,561,875 (235,000) Net Revenues/(Expenditures) 10,886,907 3,730,008 (1,132,354) (6,572,831) (6,527,076) (5,808,431) 7,747,236 13,978,597 (3,128,162) (6,259,310) (884,700) (6,277,597) (929,195) (1,176,908) (1,326,908) 150,000 Cash, Beginning of Period 56,236,792 67,123,699 70,853,707 69,721,353 63,148,522 56,621,446 50,813,015 58,560,251 72,538,848 69,410,686 63,151,376 62,266,676 56,236,792 56,236,792 0 Cash, End of Month 67,123,699 70,853,707 69,721,353 63,148,522 56,621,446 50,813,015 58,560,251 72,538,848 69,410,686 63,151,376 62,266,676 55,989,079 (929,195) 55,059,884 54,909,884 150,000 Less O/S Encumbrances 10,749,353 12,617,628 13,771,546 13,695,330 12,451,279 10,100,000 9,700,000 9,200,000 8,100,000 6,400,000 6,000,000 5,081,976 0 5,081,976 5,081,976 0 Less Budget Reserve 353,070 353,070 353,070 353,070 353,070 353,070 353,070 353,070 353,070 353,070 353,070 353,070 0 353,070 353,070 0 Fund Balance, End of Month $56,021,276 $57,883,009 $55,596,737 $49,100,122 $43,817,097 $40,359,945 $48,507,181 $62,985,778 $60,957,616 $56,398,306 $55,913,606 $50,554,033 ($929,195) $49,624,838 $49,474,838 $150,000

5. FINANCIAL REPORT BY BANK

SHAKER HEIGHTS CITY SCHOOL DISTRICT FINANCIAL REPORT BY BANK NOVEMBER 2018 BEGINNING OF RECEIPTS EXPENDITURES CURRENT YEAR BALANCE MTD YTD MTD YTD FUND BALANCE HUNTINGTON ($1,201,020.84) $9,494,029.87 $64,468,403.12 $9,639,456.60 $63,783,305.15 ($515,922.87) INVESTMENTS & OTHER 106,848,334.16 (5,972,671.31) (11,043,653.95) 0.00 0.00 95,804,680.21 DEPOSITS Payroll Funding Transfer A/C -for 1st of next mth 2,397,893.03 (28,649.94) 10,078.57 0.00 0.00 2,407,971.60 GRAND TOTAL $108,045,206.35 $3,492,708.62 $53,434,827.74 $9,639,456.60 $63,783,305.15 $97,696,728.94 0.00 0.00 0.00 0.00 0.00 0.00 Note-HNB A/C is negative due to o/s cks that will be covered by transfers from the Inv.&OtherDeposits A/C in accordance with controlled disbursement feature of HNB A/C. 05BankPos 11-30-18 (1) NOV

6. FINANCIAL REPORT BY FUND

Date: 12/06/2018 Shaker Heights City Schools Page: 1 Time: 2:59 pm Financial Report by Fund (FINSUM) FY 19 NOVEMBER 18 FYTD MTD FYTD Current Current Unencumbered Begin Balance MTD Receipts Receipts Expenditures Expenditures Fund Balance Encumbrances Fund Balance TOTAL FOR Fund 001 - GENERAL: 56,236,791.86 1,700,604.11 40,769,641.54 8,227,680.55 40,384,987.53 56,621,445.87 12,451,278.59 44,170,167.28 TOTAL FOR Fund 002 - BOND RETIREMENT: 14,584,242.33 0.00 1,802,798.92 0.00 10,093,888.82 6,293,152.43 18,090.00 6,275,062.43 TOTAL FOR Fund 003 - PERMANENT IMPROVEMENT: 652,956.72 0.00 360,916.24 0.00 0.00 1,013,872.96 0.00 1,013,872.96 TOTAL FOR Fund 004 - BUILDING: 27,565,258.07 75,737.81 3,441,220.43 155,726.41 6,986,964.74 24,019,513.76 5,111,882.84 18,907,630.92 TOTAL FOR Fund 006 - FOOD SERVICE: 273,722.28 275,386.78 529,038.05 138,333.09 344,916.61 457,843.72 1,027,583.14 569,739.42- TOTAL FOR Fund 007 - SPECIAL TRUST: 62,235.96 0.00 22,502.60 3,275.73 19,535.33 65,203.23 444.48 64,758.75 TOTAL FOR Fund 009 - UNIFORM SCHOOL SUPPLIES: 16,692.27 1,726.25 56,666.15 306.73 112,481.76 39,123.34-2,275.62 41,398.96- TOTAL FOR Fund 011 - ROTARY-SPECIAL SERVICES: 154,553.17 5,300.00 35,962.68 29,412.80 33,088.21 157,427.64 2,460.00 154,967.64 TOTAL FOR Fund 014 - ROTARY-INTERNAL SERVICES: 140,286.54 1,881.00 10,641.50 3,319.00 6,162.07 144,765.97 17,623.09 127,142.88 TOTAL FOR Fund 018 - PUBLIC SCHOOL SUPPORT: 155,406.58 5,926.76 58,756.35 5,896.90 30,471.07 183,691.86 39,805.12 143,886.74 TOTAL FOR Fund 020 - SPECIAL ENTERPRISE FUND: 14,706.74 136.00 1,698.03 220.15 807.03 15,597.74 0.00 15,597.74 TOTAL FOR Fund 022 - DISTRICT AGENCY: 1,938,610.18 43,684.47 381,779.55 2,294.22 442,132.59 1,878,257.14 0.00 1,878,257.14 TOTAL FOR Fund 024 - EMPLOYEE BENEFITS SELF INS.: 5,154,171.57 931,757.97 4,705,091.71 718,310.70 4,239,745.97 5,619,517.31 2,820.00 5,616,697.31 TOTAL FOR Fund 027 - WORKMANS COMPENSATION-SELF IN 529,974.19 0.00 279,352.78 0.00 0.00 809,326.97 0.00 809,326.97 TOTAL FOR Fund 200 - STUDENT MANAGED ACTIVITY: 224,677.81 43,824.33 112,828.06 21,323.81 47,348.85 290,157.02 96,953.97 193,203.05 TOTAL FOR Fund 300 - DISTRICT MANAGED ACTIVITY: 213,054.31 9,455.00 156,538.07 42,167.10 173,509.07 196,083.31 125,518.58 70,564.73

Date: 12/06/2018 Shaker Heights City Schools Page: 2 Time: 2:59 pm Financial Report by Fund (FINSUM) FY 19 NOVEMBER 18 FYTD MTD FYTD Current Current Unencumbered Begin Balance MTD Receipts Receipts Expenditures Expenditures Fund Balance Encumbrances Fund Balance TOTAL FOR Fund 401 - AUXILIARY SERVICES: 117,977.96 139,264.08 278,848.21 40,056.51 177,874.75 218,951.42 185,826.69 33,124.73 TOTAL FOR Fund 451 - DATA COMMUNICATION FUND: 0.00 0.00 7,200.00 0.00 7,200.00 0.00 0.00 0.00 TOTAL FOR Fund 499 - MISCELLANEOUS STATE GRANT FUN 0.00 31,910.04 32,507.54 2,763.96 7,507.40 25,000.14 0.00 25,000.14 TOTAL FOR Fund 516 - IDEA PART B GRANTS: 10,436.51 100,508.77 161,580.62 155,437.84 327,949.09 155,931.96-0.00 155,931.96- TOTAL FOR Fund 551 - LIMITED ENGLISH PROFICIENCY: 149.21-4,509.78 10,646.18 3,013.54 18,136.92 7,639.95-0.00 7,639.95- TOTAL FOR Fund 572 - TITLE I DISADVANTAGED CHILDRE 399.49-35,170.18 122,687.24 76,252.07 219,006.56 96,718.81-0.00 96,718.81- TOTAL FOR Fund 587 - IDEA PRESCHOOL-HANDICAPPED: 0.00 4,761.29 4,761.29 2,647.00 7,408.29 2,647.00-0.00 2,647.00- TOTAL FOR Fund 590 - IMPROVING TEACHER QUALITY: 0.00 69,164.00 69,164.00 10,620.99 79,784.99 10,620.99-0.00 10,620.99- TOTAL FOR Fund 599 - MISCELLANEOUS FED. GRANT FUND 0.00 12,000.00 22,000.00 397.50 22,397.50 397.50-397.50 795.00- GRAND TOTALS: 108,045,206.35 3,492,708.62 53,434,827.74 9,639,456.60 63,783,305.15 97,696,728.94 19,082,959.62 78,613,769.32

7. REVENUE ACCOUNT SUMMARY

Date: 12/06/18 Shaker Heights City Schools Page: 1 Time: 3:00 pm Revenue Account Summary (REVSUM) SORTED BY FUND/RCPT FY 19 NOVEMBER 18 FUND: 001 (GENERAL) FYTD MTD YTD FYTD FYTD FYTD Actual Actual Actual Balance Percent Receivable Receipts Receipts Receipts Receivable Received *****TOTAL FOR RCPT 1111 (GEN. PROP. TAX - REAL UNRESERV): 0.00 26,353,588.58 0.00 67,129,547.35 26,353,588.58-0.00 *****TOTAL FOR RCPT 1122 (PUBLIC UTILITY PERSONAL PROP.): 0.00 1,319,185.00 0.00 3,054,137.82 1,319,185.00-0.00 *****TOTAL FOR RCPT 1190 (OTHER RECEIPTS (LOCAL TAXES)): 0.00 0.00 0.00 112,331.75 0.00 0.00 *****TOTAL FOR RCPT 1211 (TUITION/PAT-REGULAR DAY SCHOOL): 0.00 77,595.00 31,755.00 180,493.00 77,595.00-0.00 *****TOTAL FOR RCPT 1219 (MISC TUITION FROM PATRONS): 0.00 1,654.40 0.00 1,654.40 1,654.40-0.00 *****TOTAL FOR RCPT 1221 (TUITION/DST-REGULAR DAY SCHOOL): 0.00 190,242.30 0.00 421,027.94 190,242.30-0.00 *****TOTAL FOR RCPT 1223 (TUITION/DST-SPECIAL EDUCATION): 0.00 138,735.62 0.00 416,210.76 138,735.62-0.00 *****TOTAL FOR RCPT 1390 (OTHER TRANSPORTATION FEES): 0.00 0.00 0.00 12,050.00 0.00 0.00 *****TOTAL FOR RCPT 1410 (INTEREST IN INVESTMENTS): 0.00 567,928.39 167,547.38 1,098,906.97 567,928.39-0.00

Date: 12/06/18 Shaker Heights City Schools Page: 2 Time: 3:00 pm Revenue Account Summary (REVSUM) SORTED BY FUND/RCPT FY 19 NOVEMBER 18 FYTD MTD YTD FYTD FYTD FYTD Actual Actual Actual Balance Percent Receivable Receipts Receipts Receipts Receivable Received *****TOTAL FOR RCPT 1631 (DUES/FEES-ACADEMIC ORIENTED): 0.00 86.00 0.00 63,607.97 86.00-0.00 *****TOTAL FOR RCPT 1634 (DUES/FEES-MUSIC ORIENTED): 0.00 2,345.00 14.00 3,147.50 2,345.00-0.00 *****TOTAL FOR RCPT 1730 (SALE OF TEXTBOOKS): 0.00 42.00 0.00 940.00 42.00-0.00 *****TOTAL FOR RCPT 1810 (RENTALS): 0.00 37,226.76 14,949.34 90,023.32 37,226.76-0.00 *****TOTAL FOR RCPT 1820 (CONTRIB & DONATION - PRIVATE): 0.00 11,500.00 0.00 11,500.00 11,500.00-0.00 *****TOTAL FOR RCPT 1839 (SERVICES PROVIDED-OTHER ENTITY): 0.00 191,797.31 34,661.00 508,232.76 191,797.31-0.00 *****TOTAL FOR RCPT 1860 (FINES): 0.00 3,520.15 79.16-11,541.61 3,520.15-0.00 *****TOTAL FOR RCPT 1890 (OTHER MISCELLANEOUS RECEIPTS): 0.00 29,848.75 12,667.07 134,185.57 29,848.75-0.00 *****TOTAL FOR RCPT 3110 (SCHOOL FOUNDATION ALLOWANCE): 0.00 7,301,558.37 1,428,397.80 15,890,329.85 7,301,558.37-0.00 *****TOTAL FOR RCPT 3131 (10% AND 2.5% ROLLBACK): 0.00 3,688,824.07 0.00 7,377,664.51 3,688,824.07-0.00

Date: 12/06/18 Shaker Heights City Schools Page: 3 Time: 3:00 pm Revenue Account Summary (REVSUM) SORTED BY FUND/RCPT FY 19 NOVEMBER 18 FYTD MTD YTD FYTD FYTD FYTD Actual Actual Actual Balance Percent Receivable Receipts Receipts Receipts Receivable Received *****TOTAL FOR RCPT 3132 (HOMESTEAD EXEMPTION): 0.00 689,551.13 0.00 1,372,731.01 689,551.13-0.00 *****TOTAL FOR RCPT 3190 (OTHER UNRESTRC GRANTS-IN-AID): 0.00 137,171.89 0.00 259,232.10 137,171.89-0.00 *****TOTAL FOR RCPT 3219 (OTHER REST GRANTS-IN-AID/STATE): 0.00 0.00 0.00 718,994.72 0.00 0.00 *****TOTAL FOR RCPT 4120 (UNRES GRANT FED FROM STATE): 0.00 27,240.82 10,691.68 90,702.12 27,240.82-0.00 *****TOTAL FOR RCPT 4139 (UNRES FROM FED/OTHER INTERMED.): 0.00 0.00 0.00 260,597.04 0.00 0.00 *****TOTAL FOR FUND 001 (GENERAL): 0.00 40,769,641.54 1,700,604.11 99,219,790.07 40,769,641.54-0.00 FUND: 002 (BOND RETIREMENT) *****TOTAL FOR RCPT 1111 (GEN. PROP. TAX - REAL UNRESERV): 0.00 1,575,070.67 0.00 4,236,237.57 1,575,070.67-0.00 *****TOTAL FOR RCPT 1122 (PUBLIC UTILITY PERSONAL PROP.): 0.00 41,713.07 0.00 96,572.85 41,713.07-0.00 *****TOTAL FOR RCPT 1890 (OTHER MISCELLANEOUS RECEIPTS): 0.00 0.00 0.00 0.00 0.00 0.00

Date: 12/06/18 Shaker Heights City Schools Page: 4 Time: 3:00 pm Revenue Account Summary (REVSUM) SORTED BY FUND/RCPT FY 19 NOVEMBER 18 FYTD MTD YTD FYTD FYTD FYTD Actual Actual Actual Balance Percent Receivable Receipts Receipts Receipts Receivable Received *****TOTAL FOR RCPT 1911 (PREM ON SALE OF BONDS & NOTES): 0.00 0.00 0.00 1,493,595.90 0.00 0.00 *****TOTAL FOR RCPT 1912 (PREM ON SALE REFUNDING BONDS): 0.00 0.00 0.00 2,299.00 0.00 0.00 *****TOTAL FOR RCPT 1922 (SALE OF REFUNDING BONDS): 0.00 0.00 0.00 8,395,000.00 0.00 0.00 *****TOTAL FOR RCPT 3131 (10% AND 2.5% ROLLBACK): 0.00 142,566.37 0.00 285,127.97 142,566.37-0.00 *****TOTAL FOR RCPT 3132 (HOMESTEAD EXEMPTION): 0.00 43,448.81 0.00 86,495.99 43,448.81-0.00 *****TOTAL FOR FUND 002 (BOND RETIREMENT): 0.00 1,802,798.92 0.00 14,595,329.28 1,802,798.92-0.00 FUND: 003 (PERMANENT IMPROVEMENT) *****TOTAL FOR RCPT 1111 (GEN. PROP. TAX - REAL UNRESERV): 0.00 342,562.73 0.00 974,419.37 342,562.73-0.00 *****TOTAL FOR RCPT 1122 (PUBLIC UTILITY PERSONAL PROP.): 0.00 8,989.20 0.00 20,811.53 8,989.20-0.00 *****TOTAL FOR RCPT 3132 (HOMESTEAD EXEMPTION): 0.00 9,364.31 0.00 18,642.06 9,364.31-0.00

Date: 12/06/18 Shaker Heights City Schools Page: 5 Time: 3:00 pm Revenue Account Summary (REVSUM) SORTED BY FUND/RCPT FY 19 NOVEMBER 18 FYTD MTD YTD FYTD FYTD FYTD Actual Actual Actual Balance Percent Receivable Receipts Receipts Receipts Receivable Received *****TOTAL FOR FUND 003 (PERMANENT IMPROVEMENT): 0.00 360,916.24 0.00 1,013,872.96 360,916.24-0.00 FUND: 004 (BUILDING) *****TOTAL FOR RCPT 1410 (INTEREST IN INVESTMENTS): 0.00 269,872.43 37,470.43 311,441.87 269,872.43-0.00 *****TOTAL FOR RCPT 1820 (CONTRIB & DONATION - PRIVATE): 0.00 33,230.93 33,230.93 49,833.93 33,230.93-0.00 *****TOTAL FOR RCPT 1890 (OTHER MISCELLANEOUS RECEIPTS): 0.00 24,981.11 5,036.45 55,809.14 24,981.11-0.00 *****TOTAL FOR RCPT 1921 (SALE OF BONDS): 0.00 0.00 0.00 20,100,000.00 0.00 0.00 *****TOTAL FOR RCPT 1934 (INSURANCE PROCEEDS): 0.00 3,113,135.96 0.00 3,117,100.82 3,113,135.96-0.00 *****TOTAL FOR FUND 004 (BUILDING): 0.00 3,441,220.43 75,737.81 23,634,185.76 3,441,220.43-0.00 FUND: 006 (FOOD SERVICE) *****TOTAL FOR RCPT 1410 (INTEREST IN INVESTMENTS): 0.00 2,874.43 748.71 7,803.83 2,874.43-0.00 *****TOTAL FOR RCPT 1511 (SALES OF BREAKFASTS TO STUD): 0.00 21,456.95 6,636.15 52,238.30 21,456.95-0.00