Mon Jan 24 2011, 7:00pm
District Meeting Room Portable
Regular Meeting


Financial Report/Enrollment

Date:                        January 20, 2011

To:                        Michael Green, Superintendent

Subject:            December Financial/Enrollment Report

From:                        Stacy Brown, Director of Business Services


Attached are the 2010 December monthly cash flow statement for the general fund and budget status reports for all funds for the month of December.   I have also included the 10-11 Sources/Uses and Projected Fund Balance spreadsheet with updated numbers for this year.


The cash flow statement (10-11 Budget vs. Actual and Comparison to 09-10) shows revenues $45,000 less than expected, payroll approximately $9,400 greater than expected and accounts payable approximately $45,000 greater than expected.  Revenue is less than expected due to correction of $62,000 made in December.  Revenue was incorrectly recorded in the general fund and should have been recorded in the capital projects fund in October.  Review of the cash flow statement reflects this, in that revenue was $108,000 greater than expected.  Payroll is greater than expected due to higher than normal sub costs for staff members that are out on extended leave and the addition of one certificated staff that was not budgeted.  Accounts payable differences due to $25,000 paid for lighting projects, $5,500 paid to the State Auditor's Office and increased fuel costs over the prior December. 


The Projected Sources/Uses/Ending Fund Balance spreadsheet calculates an unreserved increase in fund balance of approximately $272,000.  All departments and buildings continue to be very expense conscious and it looks like we will finish the year with an unreserved fund balance just over $2,000,000.  The projections include estimated cuts for the 10-11 supplemental budget, that has not yet been approved.  I am estimating that the district will lose all K-4 enhancement dollars for the year ($205,000) and that the legislature will approve a decrease  in apportionment to offset the Edujobs money received ($427,000 increase an decrease offset each other).  The increase in fund balance is a result of increased enrollment over budget and belt tightening by everyone with the continued understanding of the budget crisis the state is facing.  Even with the cuts I feel the district is in a good position moving into the next biennium.  The bard recommends a fund balance of 5%, which equates to just over $1,000.000.  The increases we have made over the past few years should help to lessen the blow of state cuts and the end of the Stimulus funds.  I will continue to update you as things happen in Olympia.


Fund balance statements for all funds for December 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 January and a comparison of budgeted FTE to actual average FTE.  We lost 3 students and 3.73 FTE between December and January, however the January count was still 58.50 FTE greater than budget and the average continues to hold at 61.38 greater than budget.  I will continue to keep an eye on the enrollment and make conservative projections in estimating revenues as the year progresses.


Please let me know if you have any questions.

Attached Files:
financial-enrollment info 1-24-11.pdf application/pdf 5B