Date: May 22, 2013
To: Michael Green, Superintendent
Subject: April 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 month of April. Revenues in March were $47,550 greater than expected. Revenue estimates are based on the average amount received in the last three years. In 09-10 when we were receiving stimulus funds, the Legislature swapped the LEA funds with stimulus funds. In that year, we received the stimulus dollars monthly, based upon expenditures. In the years before and the years since, LEA is received as large chunks 4 times throughout the year. For this reason, the estimated revenues were less for April and the actual are quite a bit more. Payroll was about $21,000 greater than expected due to the contract cash out of an employee who has been on administrative leave. Expenditures were very close to expected for this time of the year. I reviewed all expenditures and the amounts paid do not look unusual.
Apportionment has been updated to actuals and I have the actual transportation allocation. I attached a spreadsheet with projected revenues and expenditures for the year and also estimated ending fund balance for the year. I updated the format of this spreadsheet to follow the format of the new funding formulas, which split out funding differently than the old apportionment formulas. The spreadsheet continues to include a column which shows how much levy/local dollars are used in the particular program or funding/expenditure area. Based upon projected revenues and expenditures for 12-13, as well as building carryovers, I expect to add approximately $100,000 to the unreserved fund balance this year. Please take a look at the new format and let me know if you have questions or comments. I can go over the new format during the board meeting if you would like.
The enrollment spreadsheets are attached, with summaries by headcount for September through May and a comparison of budgeted FTE to actual average FTE. The District enrollment increased in May by 4 heads and almost 4.00 FTE. Yale’s numbers increased by 3 (which is significant for them) and we had various increase and decreases in the other grades and most of the other buildings. May FTE was 24.00 FTE greater than budget and the average FTE through April is still 40.08 FTE greater than budget.
Please let me know if you have any questions.