To: Michael Green, Superintendent
From: Stacy Brown, Director of Business Services
Subject: July Financial Report
Date: August 22, 2022
I have the months of September through July reconciled. I attached some reports that include YTD expenditures and revenues through 7/31/22 and projected revenues, expenditures, and fund balance through the end of the year. I made updates to projected expenditures and revenues based on what is known at this time. The projected fund balance is now projected to increase by $382,000 (to $4,923,704). This is a decrease of approximately $150,000 compared to the estimated FB increase in May. You can see this in the Month-End Balances (page 2) and the Financial Forecast (page 5).
The General Fund Revenues Dashboard Summary (page 3) 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 88.82% of the budgeted revenues, compared with 87.40% expected. This is approximately 1.4% more than projected.
The General Fund Expenditure Dashboard Summary (page 4) shows a summary of year-to-date expenditures in comparison with projected expenditures. The green donut shows that the projected year-end FB is anticipated to be 11.1% of expenditures. This is a very healthy level for the district. If you look at the second donut (red) you can see that through July we have spent only 88.37% of the budgeted expenditures. This is in comparison with projected expenditures based on budget and history of 90.75%. This is consistent with prior months. We are working on some maintenance projects this summer and also purchasing the new K-4 ELA curriculum, so I adjusted projections accordingly.
Budget status reports for all funds for July are included (pages 6-10).
Please let me know if you if have any questions!