To: Michael Green, Superintendent
From: Stacy Brown, Director of Business Services
Subject: January Financial/February Enrollment Report
Date: February 17, 2023
I have the months of September through January reconciled. I attached some reports that include YTD expenditures and revenues through 1/31/22 and projected revenues, expenditures, and fund balance through the end of the year. I have made some adjustments to revenues and expenditures, including an increase of $325,000 to apportionment for enrollment greater than budget. I am still waiting to hear what the transportation allocation will be for this year and hoping it will be at least as much as I budgeted. Any adjustments for that (either up or down) will be made next month. The projected fund balance is now projected to decrease by just over $1,000,000. You can see this in the Month-End Balances (page 2) and the Financial Forecast (page 5). The budgeted decrease was $619,000, and there was also approximately $400,000 in the year-end fund balance for the new K-4 ELA curriculum that hadn’t been paid by the end of the year. This is accounted for in these numbers. I have some adjustments to make to various programs, which will move things around a bit and will change this number by approximately $250,000 to the good. More to come next month.
The General Fund Revenues Dashboard Summary (page 3) shows a summary of revenues and the amounts collected to date in comparison with projected revenues. If you look at the first half donut, you can see that we have collected a total of 36.74% of the budgeted revenues, compared with 36.66% expected. If you look at the graph, you can see we have collected more than the previous year in all areas except the Federal grants. Also, the Federal Special Purpose is usually listed in the top 10 sources of revenues. OSPI implemented a new grant system for our Title allocations this year, and it has been a slow process in applying, getting approved, and claiming the funds. To date, we have not actually received any funds for these programs. This results in the year-to-date revenues being less than projected. These grants have finally been claimed, and we will receive the funds in February. The annual amount expected is included in the projections.
The General Fund Expenditure Dashboard Summary (page 4) shows a summary of year-to-date expenditures in comparison with projected expenditures. If you look at the second donut (red), you can see that through January, we have spent 42.37% of the budgeted expenditures. This is in comparison with only 39.83% being spent last year. Part of this difference is the SEIU wage increase that was not budgeted and also actual ESSER funds being less than budgeted. Updates will be made as we move forward. I will be fine-tuning the projected expenditures.
Budget status reports for all funds for January are included (pages 6-10).
Enrollment
Enrollment is not due to OSPI until the end of the week, so the enrollment is not completely processed, and I don’t yet have February reports.
Please let me know if you have any questions.