I have the months of September through December reconciled. I attached some reports that include YTD expenditures and revenues through 12/31/20 and projected revenues, expenditures, and fund balance through the end of the year. I decided to run reports based on budget and history, without any adjustments to see what the future looks like. Without any adjustments, the future looks very bright for this fiscal year, including revenues exceeding expenditures and an increase to the fund balance of almost $2.3M. You can see this in the Month-End Balances and the General Fund High-Level Financial Forecast.
The General Fund Revenues Dashboard Summary shows a summary of revenues and the amounts collected to date in comparison with projected revenues. If you look at the first half donut, you can see that we have collected a total of 31.36% of the budgeted revenues, compared with 30.43% expected. If you look at the graph, you can see we have collected more than the previous year in every category. In the Local funds, we have received very little, except we have received approximately $127,000 more in Property Taxes than expected. In the area of State funds, we have received more for 2 reasons. Partly because budgeted state revenues were higher than last year and we are receiving our apportionment funding based on budget (through December) and we also received $330,000 in State Forest revenues, which was very unexpected. I cannot rely on State Forest Funds and normally budget $0 in that category, so anything we receive is a bonus.
The General Fund Expenditure Dashboard Summary shows a summary of year to date expenditures in comparison with projected expenditures. If you look at the second donut (red) you can see that through December we have spent only 29.38% of the budgeted expenditures. This is in comparison with projected expenditures based on budget and history of 34.41%. The comparison graph by object of this year’s expenditures in comparison to other years draws a pretty clear picture. We have spent less in every object, except employee benefits. Certificated Salaries are less due to restructuring some of the district directed days that are now rolled into their contract and paid monthly, instead of being paid in September. We also have paid very little in certificated subs to date. Classified salaries are less due to the layoffs and reduced hours of our custodians, food service staff, bus drivers, and KWRL office staff and also we had many positions that were budgeted that did not need to be filled, since we don’t have all students in the building. We have added quite a few classified positions in the last couple of months, as the need has increased. Although the salaries are down, we are still required to pay the employee benefits. Supplies are low due to not having the full amount of students in the buildings.
As I said above, these figures are without adjustments. Enrollment is running approximately 60 FTE below budget and Special Ed Enrollment is also below budget. Apportionment revenues will be adjusted to actual in January’s apportionment and that will make quite a large difference on the ending fund balance. There are also some unknowns in the area of Transportation and the amount of the second round of ESSER (Covid Relief) funds that we will be eligible to receive. That being said, we are in a strong fiscal position for this fiscal year (not as good as this shows now) but stable and expecting to increase the fund balance again this year. It will be interesting to compare these projections (knowing the revenues are inflated) in comparison with January and February when the funding is based on actuals and not budget.
Enrollment
The enrollment spreadsheets are attached with summaries by headcount for September through January and a comparison of budgeted FTE to actual average FTE. Enrollment decreased by just 1 student and .63 FTE, making the January count 69.72 students below budget. The average FTE is 61.66 students below budget. Districtwide between December 2 and January 1, we had 9 students enter that are new, 0 students that returned to the district, 0 status changes (change in FTE), 10 students withdraw, and 7 students who transferred within the district. Jody has also updated the Special Ed counts to average and we are 14.75 students below budget through January. Special Education numbers still continue to increase each month. 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.