Date: July 16, 2013
To: Michael Green, Superintendent
Subject: June 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 June. Revenues in June were $51,000 greater than expected. Revenue estimates are based on the average amount received in the last three years. I realized that LaCenter SD had not paid their unfunded for the last couple of months and they paid $50,000 in June. Payroll was about $42,000 greater than expected. This is attributed to the cash out of a teacher who left the district to become an administrator at another district and was going to be paid by the other district starting in July. This totaled about $14,000. We also paid about $15,000 more in subs (2 teachers on maternity leave and a couple of classified employees on sick leave) and about $15,000 more in teacher extra days than in the last couple of years. Expenditures were about $99,000 greater than expected. A large part of this difference was the $53,000 principal and interest payment on the nonvoted bond that was paid in June. Another difference was that we paid almost $15,000 more in credit reimbursement this year than we have in the past. I reviewed all expenditures and the amounts paid do not look unusual.
I have been working on projected revenues and expenditures, but don’t feel like I have spent enough time to give you good figures. However, it does look like we might need a budget extension in the general fund. If we do, you can expect to request board approval the second August meeting when consider approval of the 13-14 budget. I have been trying to get the budget completed, especially now that we have numbers from the legislature. It is coming together nicely.
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.