I have attached the 2017-18 Budget Vs Actual and Comparisons to 16-17 for September through May (page 1-3). Also attached are the April and May Budget Status Reports for all funds (pages 4-16). As you know, I have been working on payroll and budget the past couple of months and it has really taken a toll on the time I have to complete all of my regular duties. Now that I have two stellar staff members on board and completing payroll, things have settled down. We are paying the KWRL 17-18 retro in June, so in July I will have updated revenue, expenditures and ending fund balance reports for you. It is possible that I will also have a general fund budget extension, as our revenues and expenditures are most likely going to come in greater than the budgeted appropriation. The June Enrollment Spreadsheets are attached as well (17-19).
Budget vs Actual Comparisons for April and May
Revenues
Revenues in April were $381,000 more than expected (page 1). Estimated property tax revenue is based on the total budgeted for the year. Actual revenue collections were about $400,000 greater than the average of the last 3 years. The increase from 16-17 budget to 17-18 budget is all collected in the second half of the year, with the majority being collected in April. Non-high increased by about $20,000 for this year, with almost $15,000 recorded in April. We also received a new grant for high school math and collected $35,000 in April to cover new curriculum costs.
Revenues in May were about $35,000 greater than expected. We received $7,000 in E-rate funding and also pcard rebate of almost $10,000. We also had full claims for National School Lunch and National School Breakfast program (2 out of the last 3 years we did not receive our April funds until June).
Payroll
April payroll was about $80,000 greater than expected and May payroll was about $155,000 more than expected. As you can see by the spreadsheet, this has been the case all year. In looking at the comparison to salary and benefit objects to prior years, certificated additional days continue to be the big difference each month ($40,000 in April and $40,000 in May). There was a large increase in classified salaries from April to May, due to increases in KWRL route times and also extracurricular is high this time of year with spring sports. The office staff also works extra time to cover for routes and trips. We had 2 paras and 2 bus drivers resign in April and May and we paid out their contracts in May, resulting in higher than normal pay. There was also an overlap in staff in the Business Office, with Chrissy training Mary and we paid both salaries in May. These items are in addition to the couple of unbudgeted positions and also the budgeting of benefits not being as high for added capacity as in prior years. As I have reviewed the accounts one by one, I do not see additional areas that I would expect to be much different than what has been budgeted or expected each month. Updated projections will be presented next month.
Accounts Payable
April accounts payable was $136,000 greater than expected and May was only $4,000 more than expected. In April, we paid almost $36,000 for the WHS math curriculum that was covered by grant funds received in May. We also finally paid the $63,000 bill for the boilers that were installed this winter. I have reviewed all expenditures and found them to be reasonable.
Enrollment
The enrollment spreadsheets are also attached with summaries by headcount for September through June and a comparison of budgeted FTE to actual average FTE. Headcount and FTE enrollment decreased by 8 students and 8.0 FTE. The average FTE is 47.38 greater than budgeted. This is the last count of the year, so this will be the average for funding purposes in 17-18
Please let me know if you have any questions.