Date: October 22, 2008
To: Michael Green, Superintendent
Subject: September Operation Report - Business Services
From: Stacy Brown, Director of Business Services
Attached is the monthly cash flow statement for the general fund and Budget Status Reports for September 2008 for all funds. The beginning balances you see here will change some, as I have not closed out the prior year and made all adjustments to accounts in preparing the 07-08 financial statements. I will present the Year-End Financial Statements for 07-08 during the second November board meeting. I will include projected revenues and expenditures beginning in November 2008.
The cash flow statement (08-09 Budget vs. Actual and Comparison to 07-08) shows lower than expected revenues of $105,000, payroll $13,000 greater than expected and expenditures approximately $27,000 less than expected. Revenues are lower than expected due to lower than expected property tax collection of about $38,000, loss of the Promoting Academic Success revenues of $5,200 and last year the state paid the one-time technology allocation and the transportation increase in September ($37,000 and $19,000 respectively). The district will be receiving the additional transportation funding for this year, but last year it was paid fully in September ($19,000) and October ($30,000). Payroll was higher than expected due to the increased number of certificated extra days that were paid in September 2008 in comparison with 2007. We paid almost $23,000 more in September 2008, much of this due to several days of mathematics standards training that occurred in August for many of our elementary teachers.
Expenditures are calculated, using a 3-year average of expenditures in September and multiplied by the budgeted expenditures to come up with a monthly estimate. September expenditures usually include ESD Risk and contract payments, utilities and many payments for items ordered at the end of the prior year for the current school year (annual orders).
The enrollment spreadsheets are also attached, with summaries by headcount for September and October and a comparison of budgeted FTE to actual average FTE. As you can see, we are down 2 heads, but up slightly in FTE from September to October, putting the average FTE at 3.16 below budget. I will continue to keep you apprised each month and will let you know how this affects the district projections starting in November.
Please let me know if you have any questions.