Date: May 18, 2011To: Michael Green, SuperintendentSubject: April Financial/Enrollment ReportFrom: Stacy Brown, Director of Business Services
Attached are the April 2011 monthly cash flow statement for the general fund and budget status reports for all funds for the month of April. 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 $74,000 greater than expected, and payroll and accounts payable close to expected. Revenues are greater than expected due to the change over the past couple of years in how Levy Equalization was distributed to districts. Last year the legislature switched out LEA with stimulus funds, so they were distributed evenly, claimed like a grant after funds were spent. Normally, LEA is distributed October through December, and April through June, so the amounts are not consistent from month to month. This year, LEA is back to being distributed unevenly throughout the year. April is one of the months and we received $133,000 (compared to $48,000 last year). We also received $29,000 from the Cowlitz PUD for lighting rebates.
The Projected Sources/Uses/Ending Fund Balance spreadsheet calculates an unreserved increase in fund balance of approximately $254,000. 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 cuts approved in the 10-11 supplemental budget. The increase to fund balance is up over the past month as we are getting closer to the end of the year and I have almost exact numbers for apportionment revenues. I also have a better idea of attorney costs, utilities, food costs and sub costs, resulting in savings from the previous projection figures. I still feel confident that the district is in a good financial position moving into the 11-12 school year and the tough budgeting road ahead.
Fund balance statements for all funds for April 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 May and a comparison of budgeted FTE to actual average FTE. We lost another 5 heads and 4.30 FTE from April to May. The May count was 54.27 FTE greater than budget and since this is the last count, we finished 61.67 FTE greater than budget. As this is the last count, we will not report in June, however, I want to keep abreast in case I need to make adjustments for budget purposes, since my original estimates were based upon April enrollment. We lost some students in May, but it looks like we have gained another 6 since the May count. I will continue to be very conservative in budgeting for next year.
Please let me know if you have any questions.