Date: June 18, 2013
To: Michael Green, Superintendent
Subject: May Financial/Enrollment Report
From: Stacy Brown, Director of Business Services
I have attached the 2012-13 Budget vs. Actual and Comparison to 2011-12 and Fund Budget Status reports for the month of May. Revenues in May were $133,500 greater than expected. Revenue estimates are based on the average amount received in the last three years. We were reimbursed for the first 5 months of the Partners In Transition program in May. The formulas would have spread this amount monthly in calculating estimated revenues. We also received two months of Federal revenues in May. Payroll was very close to expected. Expenditures were about $50,000 greater than expected. We received a bulk fuel order of $30,000, we had a two boosters go out which cost about $5,500. We were also required to pay almost $17,000 for the second half 2013 taxes to Cowlitz County in order to receive all permits for the WHS project. I reviewed all expenditures and the amounts paid do not look unusual.
I attached a spreadsheet with projected revenues and expenditures for the year and also estimated ending fund balance for the year. I updated the format of this spreadsheet to follow the format of the new funding formulas, which split out funding differently than the old apportionment formulas. The spreadsheet continues to include a column which shows how much levy/local dollars are used in the particular program or funding/expenditure area. Based upon projected revenues and expenditures for 12-13, as well as building carryovers, I expect to add approximately $40,000 to the unreserved fund balance this year. This is down from last month as I realized that I had missed some expenditures in developing the new spreadsheet, the largest being the additional $49,000 required for this year to pay for the KWRL Paradise project. I will continue to fine tune and review the projected fund balance as we finish out the year.
The enrollment spreadsheets are attached, with summaries by headcount for September through June and a comparison of budgeted FTE to actual average FTE. The District enrollment increased in June by 2 heads, but decreased almost 2 FTE. June FTE was 20.14 FTE greater than budget. As June is the last count, we will finish the year with an average FTE 38.31 greater than budget.
Please let me know if you have any questions.