Date: September 22, 2010To: Michael Green, SuperintendentSubject: August Financial/Enrollment ReportFrom: Stacy Brown, Director of Business Services
Attached is an updated spreadsheet identifying general fund projected sources of revenue and projected expenditures in each program, the monthly cash flow statement and budget status reports for all funds. The projected revenues and expenditures, the cash flow statement and the budget status reports have been updated through August 2010.
The General Fund Projections spreadsheet has been updated to include all revenues and expenditures expected to be received and paid against the 09-10 school year. As you can see by the spreadsheet, we plan to finish the year with an increase to the fund balance of almost $420,000, with approximately $116,000 reserved for building and department carryovers. This is increased from where we expected to be from the prior month projection, due mainly to additional tax revenue, timber excise revenue and additional rebates from the PUD. This will not agree to the General Fund Budget Status Reports as the financial report shows only revenues and expenditures actually received or paid through August 2010, but the projection spreadsheet includes any revenue and expenditure accruals that will be made during the year-end financial close.
The cash flow statement (09-10 Budget vs. Actual and Comparison to 08-09) shows lower than expected revenues of $44,000, payroll very close to expected and expenditures $218,000 greater than expected. Revenues are less than expected because the spreadsheet is based upon all revenues the past three years, which include revenues accrued at the end of the year. The report does not reflect accrued revenues, since these entries have not yet been made in the system. Expenditures are more than expected due to the payment of 4 special education buses from the general fund in August.
The budget status reports are business as usual.
As Michael mentioned during the first meeting, enrollment is up almost 48 students above budget. Michael also noted that unlike prior years, the increases are entirely at the K-8 grades, with the majority of increase being at K-4. Staffing adjustments have been made. Enrollment reports for the first count day in September are attached. I have looked at the enrollment/withdrawal records since count day and it appears that enrollment continues to grow, mainly at the elementary levels.
Please let me know if you have any questions.