Date: April 16, 2010To: Michael Green, SuperintendentSubject: March Financial/Enrollment ReportFrom: Stacy Brown, Director of Business Services
Attached are the March 2010 monthly cash flow statement for the general fund and budget status reports for all funds for the month of March. Since I will be on vacation next week and have three less days to prepare for the board meeting, I did not have time to accurately update the projections spreadsheet. I will update for April. I will also have an exact idea of the apportionment figures at that time as we will have our final enrollment count on May 3, 2010.
The cash flow statement (09-10 Budget vs. Actual and Comparison to 08-09) shows revenues $163,000 less than expected, payroll approximately $44,000 less than expected and accounts payable approximately $40,000 less than expected. The difference in revenues is due to the receipt of state forest funds in the amount of $68,500 received last March (vs. $3,500 received this March) and last March we received a special transportation allocation (approved by the legislature to help make up for the prior year increase in fuel costs) of $74,750. The additional transportation allocation was not approved in the 09-10 budget. Accounts Payable is less than expected as last year we had a fuel drop in March, a $5,000 bill for repairing the bell system and $10,000 bill for boiler/repair.
Fund balance statements for all funds for March are attached. We have received a bit of impact fee money the past couple of months, a sign that the economy is strengthening. I made some notes on the report since the system will not adjust the transfers in to reflect the proper fund balance account. We have about $76,000 in bond funds, $315,000 in impact fees, $29,000 reserved for a portable in the future and $43,000 in State Forest Funds that have been transferred to pay the permitting and legal costs associated with purchasing the land for KWRL. Approximately 2/3 of the expenditures for this property will be recouped by the other KWRL districts.
The enrollment spreadsheets are attached, with summaries by headcount for September through April and a comparison of budgeted FTE to actual average FTE. Enrollment continues to drop with each month. We lost another 7 kids and 9 FTE from March to April. We have lost a total of 59 kids since October. This puts the average FTE through April at 2,008.06 (about 12.00 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.