Date: February 18, 2022
To: Michael Green, Superintendent
Subject: December Financial/February Enrollment Report
From: Stacy Brown, Director of Business Services
I have the months of September through December reconciled. I attached some reports that include YTD expenditures and revenues through 12/31/21 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. Apportionment revenues are based on budget through December. In January, they will be updated based on actual enrollment. By the end of this month, I should also know the actual Transportation allocation. Next month I will make adjustments to revenues and expenditures in the projections. Without any adjustments, the fund balance looks to increase by $40,000, compared to the budgeted decrease of $493,000. You can see this in the Month-End Balances (page 2).
The General Fund Summary comparing YTD revenues and expenditures with budgeted YTD revenues and expenditures (page 3). Through December we have completed approximately 1/3 or 33.3% of the year. If revenues and expenditures were consistent from month to month, we would expect to have received 33.3% revenues and to have spent 33.3% expenditures. The amount of revenues we receive each month vary due to the state apportionment schedule and property tax due dates. We have received 29.68% of our budgeted revenues. Expenditures are fairly consistent from month to month, with September and October being higher with some big expenditures such as certificated additional days and annual items such as insurance premiums. We have spent 32.53% of our budgeted expenditures.
The General Fund Revenues Dashboard Summary (page 4) 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 29.68% of the budgeted revenues, compared with 29.45% expected. If you look at the graph, you can see we have collected more than the previous year in Local and Federal funds and less in State funds. In the Local funds, we are now collecting participation fees and we have also collected about $200,000more in property taxes than in the previous year (due to increased levy amount). Federal funds are increased, due to the additional ESSER funds we are spending and receiving. For the State funds, last year we received $330,000 in State Forest funds and we have not received any this year. I cannot rely on State Forest Funds and normally budget $0 in that category, so anything we receive is a bonus. Also, apportionment was budgeted about $500,000 less in 21-22 than in 20-21, so that is less than last year.
The General Fund Expenditure Dashboard Summary (page 5) 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 32.42% of the budgeted expenditures. This is in comparison with projected expenditures based on budget and history of 33.21%. The comparison graph by object of this year’s expenditures in comparison to other years (especially last year), draws a pretty clear picture. We have spent more in every object, except purchased services. Last year during the first 4 months of school all of the buildings were in some type of hybrid learning situation, resulting in less expenditures. We also furloughed some of the classified staff during some of those months, resulting in less classified salaries. This year all buildings are back in business, bringing us back to expenditure levels before the pandemic. I expect the purchased services to increase in future months as we have a number of Special Education outside placements that have not yet been billed at all or are behind in billing.
As I said above, these figures are without adjustments. Enrollment through February is running about 10.00 FTE below budget (compared to 60 below budget last year). Special Education enrollment is also running below budget, but because of the maximum percentage the state funds, there is a minimal effect on funding received. Apportionment revenues will be adjusted to actual in January’s apportionment (decrease the projected revenues slightly). Transportation allocation is unknown at this time, but could make a difference on Woodland’s unfunded portion of about $60,000(negatively). That being said, we are fiscally stable for this fiscal year, based on what is known at this time.
Budget status reports for all funds for November and December are also included (pages 6-15).
The enrollment spreadsheets are attached (pages 16-17), with summaries by headcount for September through February and a comparison of budgeted FTE to actual average FTE. Enrollment decreased by just 5 students and 4.7 FTE, making the February count 27.85 students below budget. The average FTE is 9.89 students below budget. Districtwide between January 2 and February 1, we had 20 students enter that are new, 14 students returned to the district, 12 status changes (change in FTE), 29 students withdrew and 26 students transferred within the district. It will be interesting to see how the lifting of the mask mandate will affect enrollment. Jody has heard from some homeschooled students that they will be returning, but we could have other families who feel otherwise. I am hopeful that enrollment will increase and we will be closer to or greater than budget for the April, May, and June counts. It remains to be seen!
Please let me know if you have any questions.