Financial/Enrollment ReportDate: March 22, 2012
To: Michael Green, Superintendent
Subject: February Financial/Enrollment Report
From: Stacy Brown, Director of Business Services
I have attached the 2011-12 Budget vs. Actual and Comparison to 2010-11 and Fund Budget Status reports for the month of February. Revenues were $112,000 less than expected. The February expected revenues are inflated because the past two years the district received big ARRA (Stimulus) payments in February that were not received for this year (the stimulus funds had to be spent by 9/30/11). Also, last year we received about $130,000 more in transportation revenues than what was budgeted. The entire increase was received last February, also inflating the expected February revenues for this year. Payroll was about $16,000 less than expected in February due to lower sick leave buyback paid in comparison with previous years. Accounts payable was very close to expected. I reviewed the AP and the amounts paid do not look unusual.
The Budget Status Reports are pretty much business as usual. On page two of the Capital Projects Fund report you can see that the balance is made up of the following amounts: bond funds of $59, 691.00, KWRL property set aside of $80,566.00, Impact fees of $226,629.00 and portable set-aside of $23,195.00. Please let me know if you have questions regarding these reports.
I am still working on a new format for the projections which is in line with the new funding formula. Now that I have actual apportionment numbers and any adjustments from last year I can make more accurate projections. I did not have this completed when the board packet went out on Thursday, but will have Tegan post it when I get it completed.
I have attached the March enrollment documents. Enrollment continues to decline slightly each month, losing another 5 bodies and 4.5 FTE in March. However, we are still sitting almost 40 FTE above budget for the year. I will be working with these numbers as I continue working on projecting revenues and expenditures for the year.
Please let me know if you have any questions.