To: Michael Green, Superintendent
From: Stacy Brown, Director of Business Services
Subject: January Financial/February Enrollment Report
Date: May 21, 2023
I have the months of September through April reconciled. I attached some reports that include YTD expenditures and revenues through 4/30/23 and projected revenues, expenditures, and fund balance through the end of the year. I have made some adjustments to revenues and expenditures, including an increase of $325,000 to apportionment for enrollment greater than budget. I received notice that the transportation allocation came in at almost $1,000,000 greater than budget. This is great news, considering that the budgeted KWRL unfunded of $1,400,000 was higher than it has ever been. This $1,400,000 is split between the districts with Woodland’s portion being $480,000. Now, the projected unfunded is approximately $100,000 with Woodland’s portion being $35,000. This is a great savings to Woodland and will affect our fund balance.
As noted below, this does not result in an increase to the fund balance of $1,000,000. The projected fund balance is now projected to decrease by just over $455,000 (compared to $1,000,000 in January). You can see this in the Month-End Balances (page 2) and the Financial Forecast (page 5). The budgeted decrease was $619,000 and there was also approximately $400,000 in the year-end fund balance for the new K-4 ELA curriculum that hadn’t been paid by the end of the year. This has since been paid for and is accounted for in these numbers. The projected fund balance is now $174,000 more than budgeted.
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 65.33% of the budgeted revenues, compared with 64.79% expected. If you look at the graph, you can see we have collected more than the previous year in all areas except the Federal grants. The big spike in state funds is the increased transportation allocation. I have been working on a budget revision for the ESSER II grant and haven’t claimed any funds for a couple of months. This is one reason why the Federal funds are less than projected and also less in comparison with previous years. The new grant system is also much more time-consuming to claim and the monthly deadline is earlier than before. I made one claim through December (received in January) and have now claimed January through April (will be received in May). I expect the Federal funds to be in line with projected by June.
The General Fund Expenditure Dashboard Summary (page 4) 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 April we have spent 66.88% of the budgeted expenditures. This is in comparison with 67.02% projected. If you look at the purple and orange graph certificated salaries, classified salaries and supplies, the actual is almost exactly what was projected. We are spending a bit less on employee benefits (classified positions not filled, so no benefits) and purchased services (spending less on Running Star and contracts for special education students being sent out of district). Although we have unfilled classified positions, their wages increased more than budgeted as a result of negotiations.
The high-level financial forecast of revenues and expenditures (page 5) provides a comparison of actual to date plus projections for total projected amounts and compares to budget. These are broken down by type for revenues and by object for the expenditures. I hi-lited the State revenues (projected over budget of $895,000) and the Revenues from Other Districts (projected under budget of $707,000) which illustrates how the increased transportation allocation affects the revenues. We are getting much more from the state, but we are getting much less from the other districts. We are also projected to get approximately $1,116,000 less in Federal funds than budgeted. This is due to ESSER funds being projected high in comparison with actual expenditures. We are projected to spend a bit less in all objects except Capital Outlay. The HVAC projects were not budgeted under Capital Outlay, but that is where we are required to record them. They were budgeted under purchased services, which is why there is such a large savings in projected versus budget in this area ($796,000)
Budget status reports for all funds for March and April are included (pages 6-15). One thing to note is that the Capital Projects Fund balance at the end of April is approximately $807,000. This balance is made up of $280,000 in impact fees, $257,000 for KWRL projects, and $270,000 available for Woodland projects (such as the WMS roof). Unfortunately, the whole balance is not available for our projects.
Enrollment
The first enrollment document (page 16) is a summary by headcount for May, with a comparison to April. The counts by grade level include the Yale, LRA, and TEAM High numbers (all totals for the district). The section below shows the total May headcount for those buildings compared with the previous month's headcount. Overall, we are down just 1 student from April. We don’t see nearly as much movement this time of year, but Deena did say that she enrolled 9 new students after this count.
The second enrollment document (page 17) shows a comparison of average FTE compared to budgeted FTE. Funding is based on FTE (not headcount) so this is the important document. Funding is based on our average annual FTE (which includes September through May at this time). For May we are 21.26 over budget and the average for the 9 months is 34.43 over budget. You can also see the Special Education enrollment numbers and how they compare to the budget. Special Education enrollment average is figured from October through May. The numbers you see here are October through May and the average has increased over the past few months. We are 7.5 students over budget at the PK level and 7.75 below budget and the KG-age 21 level, so adding them together we are just about right on budget.
Please let me know if you have any questions.