Date: May 21, 2010
To: Michael Green, Superintendent
Subject: April Financial/Enrollment Report
From: Stacy Brown, Director of Business Services
Attached are the April 2010 monthly cash flow statement for the general fund and budget status reports for all funds for the month of April. I have also attached the projections spreadsheet with current information.
The Projected Sources/Uses/Ending Fund Balance spreadsheet calculates an unreserved increase in fund balance of approximately $100,000. This is down from the prior month partly due to estimates for completing all of the lighting projects that are planned and I am also being more conservative on the property tax collections for this year. All departments and buildings continue to be very expense conscious (I am estimating about $110,000 of building budgets carried into the 10-11 school year) and it looks like we will finish the year with an unreserved fund balance of approximately $1,415,000.00. I continue to be conservative in estimating revenues and expenditures and will keep you up to date each month as circumstances change.
The cash flow statement (09-10 Budget vs. Actual and Comparison to 08-09) shows revenues very close to expected levels, payroll approximately $23,000 less than expected and accounts payable approximately $29,000 less than expected. Accounts Payable is less than expected as last year we had a fuel drop last April.
Fund balance statements for all funds for April are attached. I do not see any specific areas identified on these reports that need explanation, that are not explained through the cash flow and projections summary.
The enrollment spreadsheets are attached, with summaries by headcount for September through May and a comparison of budgeted FTE to actual average FTE. For the first time this year, head count and FTE increased in May. The increase was slight, with 2 heads and 3 FTE, bringing our average FTE for the year to 2,005.2. Since this is the last count, we finished the year just about 15.00 FTE below budget. I have taken into account the decreases between February and April in projecting budgeted enrollment for 10-11. At this time I am looking at budgeted FTE of 1,928 students, compared with 2,020 budgeted for the current school year.
Please let me know if you have any questions.