I have attached the 2018-19 Budget Vs Actual and Comparisons to 17-18 for December (page 1-2). Also attached are the December Budget Status Reports for all funds (pages 3-7) and the Sources and Uses sheet which projects revenues, expenditures and ending fund balance for 18-19 (pages 8-9). The January Enrollment Spreadsheets are attached as well (10-12).
Budget vs Actual Comparisons for December
Revenues in December
Revenues in December were $71,000 more than expected (page 2). The only thing out of the ordinary for this month is the additional $574,000 that we are receiving for transportation this year. We received 9% or $52,000 in December. I budgeted an additional $600,000 for this year and have budgeted large increases the past couple of years. However, the transportation allocation is not based on budget in September through December (like the other allocations), it is based on the previous year’s allocation. I expect this additional allocation to make a big difference in our unfunded this year.
Payroll in December
December payroll was about $42,000 greater than expected (page 2). Now that we have rolled the certificated teacher optional days into the contracts, the overall monthly pay is higher than expected, based on the old base pay, plus whatever days were submitted for the month. With this change, the monthly totals for October, November, and December have evened out and we do not have the big swings from month to month that we had in the past. We are still filling some classified positions, so sub costs are a bit higher than projected. I will be looking at budgeted vs. actual certificated and classified FTE when updating and reviewing the January information and will have a full report on budgeted vs actual at that time.
Accounts Payable in December
December accounts payable was $51,000 greater than expected (page 2). As usual, I reviewed all expenditures and the amounts paid do not look unusual.
Projected Revenues, Expenditures and Ending Fund Balance
I spent quite a bit of time reviewing and projecting out the district revenues, expenditures and ending fund balance. The updates projections have the district ending the year with a loss of approximately $49,000. The budgeted loss is approximately $66,000. It is early in the year and there are still some unknowns. Apportionment will be updated in January using actual enrollment in the many programs (September through December is based on budget). I have taken this into account in some programs, including Basic Ed (average enrollment is about 8.0 FTE below budget) and Special Ed and Bilingual enrollments are greater than budget. I will have the January apportionment numbers in a couple of days.
The largest unknown at this time is the transportation allocation. I budgeted for an increase of $600,000 and we already know that we are getting $574,000 (additional allocation from 17-18) before there is any increase for 18-19. I have not included the expected additional increase in these projections since I do not know how much the increase will be. The transportation allocations normally come out in January, so I expect them any day. The allocation could have a pretty profound effect on our ending fund balance, but I wanted to be conservative and only included $26,000 in addition to what we know we are getting ($574,000 to $600,000).
I will review each month and make adjustments, if necessary as the year progresses.
Enrollment
The enrollment spreadsheets are also attached (pages 9-11), with summaries by headcount for September through January and a comparison of budgeted FTE to actual average FTE. Headcount enrollment decreased by 2 students and the FTE decreased by another 5.50 FTE. The average FTE is now 8.0 students under budget. However, I took a look at the enrollment and withdrawals since the January count date and we have enrolled a net of 12 new students. I expect an increase in February unless we have withdrawals who are waiting until the end of the semester. I will continue to keep you apprised each month and will let you know how this affects the district projections.
Please let me know if you have any questions.