To: Michael Green, Superintendent
From: Stacy Brown, Director of Business Services
Subject: May Financial
Date: July 14, 2023
I have the months of September through May reconciled. I attached the General Fund Month-End Balances, which includes actual revenues and expenditures and fund balance through May and projected revenues, expenditures and fund balance for the year. With the adjustments I have made, the projected fund balance is now $5,005,119. This is compared to the budgeted ending fund balance of $4,837,166. This projection does not include the cost of Chromebooks that were purchased for 5-12 1:1 next year and summer maintenance projects. I expect us to end the year with a fund balance of approximately $4,750,000.
Some positive impacts on the fund balance include much higher than budgeted transportation allocation and unbudgeted Covid revenues from the Department of Health. Some items that have a negative effect on the budget include the cert sub shortage. When we don’t have teachers to fill the classrooms at WMS and WHS, we are paying teachers to work their prep. A full-day sub costs up to $220.00 per day, but paying the per diem rate for 5 periods costs more than double that amount. I budgeted $60,000 for prep pay, and we are projected to spend almost $200,000.
Budget status reports for all funds for May are included. All fund revenues, expenditures and balances are as expected for this month. We will be spending approximately $180,000 of the CPF this summer on roofing and other security projects.
Please let me know if you have any questions.