Date: November 19, 2009To: Michael Green, SuperintendentSubject: October Financial/Enrollment ReportFrom: Stacy Brown, Director of Business Services
Attached are the September and October monthly cash flow statements for the general fund and budget status reports for all funds for the months of September and October. I will include projected revenues and expenditures beginning with the November financial information at the December meeting. This gives you something to look forward to for next month.
The cash flow statement (09-10 Budget vs. Actual and Comparison to 08-09) for September shows revenues $80,000 less than expected and payroll and accounts payable very close to what was expected. Revenues are less than expected because of the change from Student Achievement monthly allocation ($88,000 in 08-09) to the Federal Stimulus grant (which must be claimed after it is expended). We will be paid in October for the amounts expended in September.
The cash flow statement (09-10 Budget vs. Actual and Comparison to 08-09) for October shows revenues $69,000 less than expected, payroll $40,000 greater than expected and accounts payable $87,000 greater than expected. Revenues are less than expected because of the change from Student Achievement monthly allocation ($175,000 in 08-09) to the Federal Stimulus grant (which must be claimed after it is expended). We claimed $32,000 and received this in October. The LEA is also being treated as a claimable grant, but we will not be able to claim against this until January. We received $37,000 in LEA in October 2008. Payroll is greater due to the change in district optional days. One full day we offered and paid in October. In prior years the days were spread in half days throughout the year.
Fund balance statements for all funds for September and October are attached. I'd like to note that the October general fund ending fund balance is higher than average, due to October being a full month for apportionment and the fact that property taxes are due in October so we receive a large amount of property taxes. This will drop back to normal levels in November and December.
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 6 students and just over 3.00 FTE from October, putting the average FTE at 7.55 less than budget. I will continue to keep you apprised each month and will let you know how this affects the district projections starting with November financial data in December.
Please let me know if you have any questions.