I have attached the 2018-19 Budget Vs Actual and Comparisons to 17-18 for January (page 1-2). Also attached are the January Budget Status Reports for all funds (pages 3-7) and the February Enrollment Spreadsheets are attached as well (8-12). The auditors are here and should be for the next couple of weeks. I will update you on any issues that they bring to my attention. They are looking at the financial statements and the National School Lunch program this year.
Budget vs Actual Comparisons for January
Revenues in January
Revenues in December were $217,000 more than expected (page 2). In January, revenues for programs that have been based on budget, are updated to actual. If there is a substantial difference between budget and actual, the January revenues can be considerably greater than expected, as the system is not only paying the increased amount for January but catching up for the months of September through December. Special Ed revenues for this month are up $65,000.00, Bilingual is up $11,000 and we received large sums for a couple of federal grants that we haven’t had before, for a total of $55,000. Also, as documented in previous months, we are receiving an additional $574,000 for transportation this year, which equates to approximately 9% or $52,000 in January. We were behind on billing the KRL districts for extracurricular and field trip and billed them for 3 months this month. I am really trying to be consistent with claiming all grants and ensuring that the National School Lunch/Breakfast program claim is entered and claimed in a timely manner. In some years, there has not been this consistency, which can skew the expected revenues. For example, this month we received around $43,000 for NSLB/NSBP, but due to inconsistent claims, the 3-year average received is only $11,000.
Payroll in January
January payroll was about $60,000 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, December, and January have evened out and we do not have the big swings from month to month that we had in the past. One area that I know we are over budget is in the area of classroom (Basic Ed) and caseload (Special Ed) overage. I budgeted approximately $7,000 per month and we are running closer to $11,000.
Accounts Payable in January
January accounts payable was $11,000 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 am patiently waiting to find out the transportation allocation before updating the board on projected revenues, expenditures and ending fund balance, as it could have a large impact on these figures. I have been reviewing budgeted vs actual staffing in certificated and classified and will also update on these next month.
Enrollment
The enrollment spreadsheets are also attached (pages 8-12), with summaries by headcount for September through February and a comparison of budgeted FTE to actual average FTE. Headcount enrollment decreased by 8 students and the FTE decreased by another 5.00. The average FTE is now almost 10.0 students under budget (approximately $85,000). Each month at this time I take a look at what has happened since the prior month count and as of right now, we appear to be up approximately 8 students (not sure how that equates to FTE). Hopefully, we won’t have a bunch of withdrawals between now and 2/28.
I also attached a copy of Jody’s districtwide tracking sheet to give you an idea of the movement that is happening each month. Overall we lost 8 heads and 5 FTE, but Jody touched a total of 83 students between 1/4/19 and 1/31/19. This number amazed me and January is a bit busier with the change in semester, but each month seems to get busier and busier. 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.