Date: December 10, 2014
To: Michael Green, Superintendent
Subject: December Financial/Enrollment Report
From: Stacy Brown, Director of Business Services
I have attached the 2014-15 Budget vs. Actual and Comparison to 2013-14 and Fund Budget Status reports for the months of September and October. I will be presenting November and December in January, as well as projected revenues, expenditures and fund balance.
September Reports - Revenues in September were $210,000 more than expected. Property tax collections were about $30,000 greater than expected based upon the budget. Also, in prior years, revenues accrued in the prior year were all reversed in September, regardless of whether or not they were received in September, October or November. This deflated the September revenues in the prior three years, decreasing the average and thereby decreasing the expected amount. This year I corrected this and only reversed the accrued revenues that were received in September. This year, we also started billing the KWRL districts for their monthly unfunded revenues. The revenues are recognized in the general ledger in the month billed, whereas, before the unfunded revenues were recorded as received. This will stabilize the monthly revenues for the unfunded from here on out. Payroll was almost $60,000 greater than expected. The buildings were given the decision to schedule 4 of the district directed days for this year and some used 2-3 days before school started, increasing the amount paid in September by approximately $75,000. We also paid out National Board stipends to 11 teachers in September, versus 6 last September. Accounts payable was about $62,000 less than expected, which is not unusual for this time of year. I reviewed all expenditures and the amounts paid do not look unusual.
October Reports – Revenues were $38,000 less than expected. This year OSPI changed their requirements for approving the Title One grant and it was not approved in time to claim funds for September and October. We will receive three months of revenues for Title 1, in November. The funds received for Title One average approximately $42,000 per month. Payroll was $105,000 less than expected. The past 3 year average paid for extra time for certificated staff in October was approximately $105,000. We paid out $46,000 in certificated extra time in October 2014. We also had a couple of budgeted positions that have not been filled. This is reasonable. Accounts payable was very close to expected. As usual, I reviewed all expenditures and the amounts paid do not look unusual.
The enrollment spreadsheets are also attached, with summaries by headcount for September through December and a comparison of budgeted FTE to actual average FTE. Enrollment has dropped off for the last couple of months, however, the average FTE is still almost 40 students above 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.