Date: September 22, 2011
To: Michael Green, Superintendent
Subject: August Financial/Enrollment Report
From: Stacy Brown, Director of Business Services
Attached is an updated spreadsheet identifying general fund projected sources of revenue and projected expenditures in each program, the monthly cash flow statement and budget status reports for all funds. The projected revenues and expenditures, the cash flow statement and the budget status reports have been updated through August 2011.
The General Fund Projections spreadsheet has been updated to include all revenues expected to be received an expenditures expected to be paid against the 10-11 school year. As you can see by the spreadsheet, we plan to finish the year with a total increase to the fund balance of about $440,000.00. , With approximately $163,000 reserved for building and department carryovers, this results in an unreserved increase just under $277,000. This is increased from where we expected to be from the prior month projections, due to large amount of property tax and timber excise tax received in August. This will not agree to the General Fund Budget Status Reports as the financial report shows only revenues and expenditures actually received or paid through August 2011, but the projection spreadsheet includes any revenue and expenditure accruals that will be made during the year-end financial close.
The cash flow statement (10-11 Budget vs. Actual and Comparison to 09-10) shows greater than expected revenues of $64,000, payroll $12,000 greater than expected and accounts payable $138,000 less than expected. Revenues are greater due to large property tax and timber excise tax payments received in August. The report does not reflect accrued revenues, since these entries have not yet been made in the system. Expenditures are less than expected, mainly because last August we purchased 4 special education buses from the general fund for $235,000 (budget expenditures are based upon the average of the last three years expenditures in August) and did not have any large expenditures this year.
The budget status reports are business as usual.
As mentioned during the first meeting, enrollment is up almost 64 FTE students above budget. The increases are spread among the grade levels with 18.5 being at K-3, 11 at 4-6, 7.81 at 7th and 8th and 26.3 at 9-12. Lewis River Academy is up 13 FTE over budget, with the kids spread out fairly evenly at K-12 (those numbers are included in the breakdown identified above). Staffing adjustments have been made. Enrollment reports for the first count day in September are attached. I have looked at the enrollment/withdrawal records since count day and it appears that enrollment continues to grow (a total district net increase of 11 students since the September count).
Please let me know if you have any questions.