Date: January 21, 2015
To: Michael Green, Superintendent
Subject: January Financial/Enrollment Report
From: Stacy Brown, Director of Business Services
I have attached the 2014-15 Budget vs. Actual and Comparison to 2013-14 and Fund Budget Status reports for the months of December. Once the January apportionment reports come out, I will have a more accurate picture of what our revenues will be based upon the current average enrollment and actual LEAP factor and will include projected revenues, expenditures and ending fund balance for January and beyond in my February report.
Revenues in December were about $60,000 more than expected. State Forest funds received were about $31,000 greater than the last 3 years’ average collected in December. The other reason that revenues are higher is that we have changed the billing process and are now billing the KWRL districts for the monthly unfunded, so the revenues should be more consistent. The revenues are recognized in the general ledger in the month billed, whereas, before the unfunded revenues were recorded as received. Also, revenues for the KWRL extracurricular charges were overlooked in November, so two months were billed in December. Payroll was about $67,000 less than expected. This is reasonable based upon the budgeted positions vs. actual positions, as well as the additional capacity added through budgeted benefits. I would expect this number to get closer to expected as we are paying for double teaching and administrative positions (staff on administrative leave and substitutes). Accounts payable was about $74,000 less than expected. The past two years we have paid approximately $80,000 for fuel in December, but only $30,000 this December. We also had payments on the Yale water project in the past years which increased the expected expenditures. I reviewed all expenditures and the amounts paid do not look unusual.
The enrollment spreadsheets are also attached, with summaries by headcount for September through January and a comparison of budgeted FTE to actual average FTE. Enrollment has dropped off for the last couple of months, however, the average FTE is still almost 37 students above budget. I will continue to keep you apprised each month and will let you know how this affects the district projections starting with January financial data in February.
Please let me know if you have any questions.