Enrollment and Financial Report
Date: October 17, 2012
To: Michael Green, Superintendent
Subject: August Financial/October 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 August. Revenues were $35,000 more than expected. This was due to higher than historical property taxes and state forest money. Payroll was $36,600 greater than expected due to the large number of long time employee retirements. The sick leave payout for this year in August was $51,000 compared to $14,000 last year. Accounts payable was $315,000 greater than expected. As this report is being run so late, this figure also includes expenditures paid in September and October which belong in the 11-12 school year (not just the normal August bills which the budgeted figure in the spreadsheet is based upon). I reviewed the AP and the amounts paid do not look unusual.
The Budget Status Reports are attached. Please note the large Capital Projects balance. This now includes the $26,000,000 bond issue that closed in August. The General Fund balance of $2,504,000 shows an increase in fund balance over10-11 of $68,000. This is lower than I expect to end the year as this does not include any accrued revenues and other entries that will be made during the year-end close and preparation of the financial statements. I will have a year-end report for you at the second November meeting. I will also have the September and October financial reports for you at that time. Please let me know if you have questions regarding these reports.
Enrollment for September and October are looking good so far. Budgeted FTE is 2,004 and we had total FTE of 2,069.90 in September and 2,071.50 in October. This is a total average of 66.70 FTE above budget. The largest difference is in Kindergarten and also in the 9-12 headcount. We are 25 kids above budget in KG and 36 students above budget in 9-12. This is great news for the beginning of the year and hope the trend continues.
Please let me know if you have any questions.