Financial/Enrollment Report

Date:               November 26, 2012

To:                   Michael Green, Superintendent

Subject:           October Financial/Enrollment Report

From:               Stacy Brown, Director of Business Services

I have attached the 2012-13 Budget vs. Actual and Comparison to 2011-12 and Fund Budget Status reports for the months of September and October.  Revenues in September were $222,000 less than expected.  This is because the revenues accrued at year-end were reversed in September, even though some of the revenues were not received until October.  As you can see, the revenues catch up in October ($192,000 greater than expected). Payroll was $91,000 greater than expected in September and about $33,000 less than expected in October.  In September, we paid out about $55,000 more in teacher days than in the past couple of years, and in October we paid about $25,000 less than in the past.  September payroll was also higher due to a change in procedure requiring all SEIU classified employees to go a 12 month contract, which resulted in about $20,000 in additional classified pay.  This means that about 10 employees, who would have been paid for very few hours in September (in the past they would have been paid for the hours they worked from 9/1 through 9/10), now received 1/12th of their total hours for the year.  Also, with the implementation of Skyward and new payroll staff, classified overtime in the buildings and the Business Office was about $6,000 greater than in the past. Accounts payable were greater than expected in September and less in October, but at the beginning of the year, Accounts Payable is hard to estimate.  I reviewed all expenditures and the amounts paid do not look unusual.

I will be presenting the Financial Statements for the year ended August 31, 2012 at the December board meeting (December 3 or December 17).  We finished the year with a fund balance of almost $3,000,000.00, however approximately $500,000 is reserved or assigned to specific purposes.  This is an increase of about $250,000 over the unreserved fund balance ending August 31, 2011.  I look forward to presenting the information at the next meeting.

The enrollment spreadsheets are also attached, with summaries by headcount for September through November and a comparison of budgeted FTE to actual average FTE.  The District enrollment is down 27 students and almost 25.00 FTE from October, putting the average FTE at 41.55 greater than budget.  I will continue to keep you apprised each month and will let you know how this affects the district projections starting with December financial data in January.

Please let me know if you have any questions.

Attached Files:
financial-enrollment report.pdf 6 application/pdf