Date: December 15, 2009To: Michael Green, SuperintendentSubject: November Financial ReportFrom: Stacy Brown, Director of Business Services
Attached are the 2009 November monthly cash flow statement for the general fund and budget status reports for all funds for the month of November. I have also attached the Sources/Uses Spreadsheet projecting revenues and expenditures for 09-10.
The cash flow statement (09-10 Budget vs. Actual and Comparison to 08-09) shows revenues $298,000 greater than expected, payroll $13,000 greater than expected and accounts payable $92,000 less than expected. Revenues are greater for a couple of reasons. First, we received $45,400 in Timber Excise tax that we were not expecting. Timber Excise money is usually received in February and August. Last year we received about 1/3 of what we expected. The State submitted this money from the prior year to the county in November to be distributed to districts. We also received $105,000 more in State Forest funds than in the past couple of Novembers. The remaining difference is in the federal grants. We received about $47,000 in ARRA (Stimulus) funds for Title One and special Ed. We also received two months of National School Lunch payments instead of one) and we received $20,000 more in Title II funds as a result of changes to the certificated collective bargaining agreement. Payroll is greater than expected due to higher than normal sub costs for some staff members that are out on extended leave, higher number of certificated optional days paid and increased overtime and extra duty pay in comparison with prior years. Accounts payable is lower than expected because last November we paid $34,000 in Specialized Transportation bill back, $26,000 in furniture and related expenses for the portable and about $11,000 for curriculum materials.
The spreadsheet labeled 09-10 Projected Revenues, Expenditures and Ending Funding Balance includes projected revenues and expenditures based upon the information available as of the middle of December. I am still working on estimated apportionment figures, as OSPI does not update with actual until January. The spreadsheet show an increase to the fund balance at year-end of about $222,000.00, with an unreserved increase of roughly $177,000. I have tried to be very conservative with estimating revenues (especially LEA, property taxes and timber excise taxes). There are many unknowns at this time and changes will be made as things change. I will continue to update you each month.
Budget status reports for all funds for November are attached. I don't see anything that needs explaining, but will point out that we have received a bit of impact fees this year, bringing the total impact fee balance to just over $315,000.
The enrollment spreadsheets are also attached, with summaries by headcount for September through December and a comparison of budgeted FTE to actual average FTE. I also attached the OSPI Report for FTE so that you can see a month-by-month account of FTE's through December. As you can see, we are down 16 students and also down 15.16 FTE's from November, putting the average FTE at 2024.37, or 4.37 above budget. This decrease is another reason for putting off publishing the district projections as I want to be sure I take this into account and calculate apportionment very conservatively.
Please let me know if you have any questions.