I have attached the 2016-17 Budget Vs Actual and Comparisons to 15-16 for January (pages 1-2). Also attached are the January Budget Status Reports for all funds (pages 3-7). In addition to the monthly reports, I have included the February Enrollment Spreadsheets (8-9). This has been a busy month. I have been preparing for the Consolidated Program Review (review of our state and federal programs performed by OSPI every 5 years) and also getting ready for the annual visit from the State Auditor’s Office. They arrived yesterday (Tuesday 2/21) and will be here for approximately 2 weeks reviewing the financial statements and our federal grants. The entrance conference will be held Thursday morning at 8 a.m. which you should have received an invite through email. I will review the projected revenues, expenditures and ending fund balance and report back next month.
Budget vs Actual Comparisons for January
Revenues
Revenues in January were $346,740,000 greater than expected (page 2). This is mainly due to me making the budgeted operating transfer of $250,000 from the Capital Projects Fund early in the year instead of waiting until later. January is also the month in which we receive our apportionment based upon actual enrollment numbers (Sept through Dec is based on budget). We will receive approximately $500,000 more apportionment than was budgeted. The January payment accounts for approximately 5 months of this increase.
Payroll
If you look at the monthly budget to actual comparison, you can see that payroll is running approximately $66,000 to $84,000 (pages 1 and 2) per month more than expected, with January being in line with this. As explained last month, we have quite a number of unbudgeted positions that have been hired, so I would expect the monthly payroll to be approximately $80,000 greater than expected each month from here through June, tapering off slightly in July and August. If there are additional differences in the coming months, these will be explained.
Accounts Payable
January accounts payable were approximately $24,000 less than expected (page 2). This is not unusual for this time of year. As usual, I reviewed all expenditures and the amounts paid are reasonable.
Enrollment
The enrollment spreadsheets are also attached (pages 8-10), with summaries by headcount for September through February and a comparison of budgeted FTE to actual average FTE. Enrollment decreased by 2 students and FTE decreased by less than 2.0 FTE, making the February count 56.81 students above budget. The average FTE is still almost 54 students greater budget. I will continue to keep you apprised each month and will let you know how this affects the district projections next month.
Please let me know if you have any questions.