Date: February 17, 2010To: Michael Green, SuperintendentSubject: January Financial/Enrollment ReportFrom: Stacy Brown, Director of Business Services
Attached are the Projected Sources/Uses/Ending Fund Balance spreadsheet, the January 2010 monthly cash flow statement for the general fund and budget status reports for all funds for the month of January. The projections spreadsheet has been updated with actual apportionment revenues based upon current knowledge and revenues and expenditures projected through the end of the year.
The Projected Sources/Uses/Ending Fund Balance spreadsheet calculates an unreserved increase in fund balance of approximately $187,000. All departments and buildings continue to be very expense conscious and it looks like we will finish the year with an unreserved fund balance of approximately $1,500,000.00. The increases to fund balance over the past couple of years could be a way to lessen some of the cuts which may need to be made for the 10-11 budget due to legislative cuts and enrollment decreases. 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, payroll approximately $20,000 greater than expected and accounts payable approximately $197,000 less than expected. Payroll is greater than expected due to higher than normal sub costs for some staff members that are out on extended leave and a higher number of certificated optional days paid than in prior years. The difference in accounts payable is caused by the operating transfer to the TVF fund for school buses that is normally done in January, but was not done as of the end of the month. The transfer of $186,559 will be made in February.
Fund balance statements for all funds for January 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 February and a comparison of budgeted FTE to actual average FTE. Enrollment continues to drop with each month. We lost another 9 kids and 9 FTE from January to February. This puts the average FTE through February at 2,015.97 (just 4.03 less than budget). I have taken these decreases into account in projecting revenues and will be taking a close look at budgeting for next year.
Please let me know if you have any questions.