I have the months of September and October reconciled. I am working with the new software on customizing, running and understanding the monthly reports that I will be using and will be presenting to the board. I have a call scheduled next week to go over the majority of the reports and will report more thoroughly in January. In the meantime, I attached the General Fund Financial Summary (using the new software) for the period ending October 31, 2019 (page 1).
This report shows a comparison between the prior year year-to-date revenues and expenditures as a percentage of the annual total versus the current year -to-date revenues and expenditures as a percentage of the annual budget. This report is helpful in that it gives a bit of detail (Revenue Categories and Expenditure Objects) but not so much detail and numbers that it is overwhelming. I feel some explanation is warranted in the following areas:
REVENUES
Local Tax - PY = 37.92% CY = 21.85% Decrease of 16.07%
Due to the change in levy amounts over the past 2 years. The calendar year 2018 levy total was $4,500,000, with approximately 47% collected in the Fall ($2,115,000). The calendar year 2019 levy total was $2,652,000, with approximately 55% collected in the Spring ($1,458,000) and approximately 47% ($1,246,000) collected in the Fall. The 2020 levy is $5,000,000 with approximately 52% ($2,600,000) collected in the spring. The combination of the lower 2019 levy and the lower percentage normally collected in the Fall accounts for the large decrease in percentage compared to 18-19.
State General Purpose - PY = 17.69% CY = 16.65% Decrease of 1.04%
State general purpose funds include the general apportionment funds received by the district. OSPI sets the annual schedule for apportionment payments to coincide with the local tax revenues. The percentages have not changed for many years, paying out 9% in September and 9% in October for a total of 18%. This year they changed the October percentage to 8%, dropping the total amount paid through October to 17%. The LAP program application was also not approved until late October so we did not receive any LAP funds until November. The decrease of 1% is reasonable.
Federal Special Purpose - PY = 4.17% CY = 1.66% Decrease of 2.51%
Federal General Purpose includes the Federal allocations, including Fed’l Special Ed, Title One, Title II, Carl Perkins and Title IV. It also includes the National School Lunch and Breakfast programs. Many of the applications for these allocations are not due to OSPI and not yet approved in time to claim before September and October claims are due. In the prior year, both Special Ed and Title One had been approved and were claimed in October. This year, only Special Ed was claimed in September and October. The percentages for Federal Special Purpose will increase in November and December as the grants are approved.
EXPENDITURES
Review of expenditures in comparison with the prior year are in line with prior year. Total expenditures through October as a percentage of budget are .11% less than prior year expenditures through October in comparison with actual expenditures.
BUDGET STATUS REPORTS
Monthly budget status reports are required by statute to be presented to the board. I have attached the budget status reports for all funds for September (pages 2-6) and October (pages 7-11).
Enrollment
The enrollment spreadsheets are also attached (pages 12-14), with summaries by headcount for September through December and a comparison of budgeted FTE to actual average FTE. After 2 months of decreases, the headcount enrollment increased by 4 students and the FTE increased by almost 6.00 FTE. The average FTE is now 22.30 students under budget. The reason for the dip in regular enrollment is due to the larger than budgeted Running Start enrollment. Budgeted total enrollment (including RS) Running Start expenditures is 2474. Total average FTE including RS is 2478 which is actually 4 students greater than budget. This means that the actual apportionment will be slightly greater than budget. However, the Running Start payments to Clark College and LCC will also be greater than budgeted, which will not help the district bottom line. I will continue to keep you apprised each month and will let you know how this affects the district projections starting with November and December financial data in January.
Please let me know if you have any questions.