To: Michael Green, Superintendent
From: Stacy Brown, Director of Business Services
Date: April 19, 2024
Subject: Financial/Enrollment Report
Revenues were very close to projected ($12,000 less). Overall, we have collected 3.91% more revenues than projected. This makes sense based on the collection of tax revenues for this year (almost all collected in the fall and very little in the spring).
Payroll was approximately $91,000 more than projected. Teachers are paid for 6 professional development days and in the past 3 years, all of these days were worked in August and paid in September. This year, they only worked 5 days before school started. The 6th day was paid in February (work day is 1/12), resulting in higher than projected payroll expenditures.
Accounts payable was $41,000 more than projected. For some reason, we must not have received the Running Start invoices for January in time for the January 31 pay cycle. We ended up paying both LCC and Clark for both January and February in February. We would normally pay about $61,000 for both colleges, but we ended up paying $123,000 in February. January Accounts Payable was almost $50,000 less than projected, so this is reasonable.
The percentage of revenues collected and expenditures paid are reasonable, based on the explanations above.
Enrollment
The first enrollment document (page 1) shows a comparison of average FTE compared to budgeted FTE. Funding is based on FTE (not headcount), so this is an important document. Funding is based on our average annual FTE (which includes September through April at this time). For April, we are 36.18 below budget, and the average for the year is 28.05 below budget. The FTE between March and April actually increased by .96 (an increase is a win!). The April count of 2,271.82 is 36.18 FTE below the average. Enrollment has stabilized in the past couple of months, with very little change since February. Even with the stabilization, we will end the year at approximately 30 FTE below budget. This will definitely have a negative effect on the ending fund balances. You also see the Special Education enrollment numbers and how they compare to the budget. Special Education enrollment average is figured October through May. The numbers you see here are for 7 months, and we are 5.43 over Pk and just .43 below budget at K-21. These numbers will be figured into the overall projections next month.
The second document (page 2) is a summary by headcount for April, with a comparison to March. The counts by grade level include the Yale, LRA, and TEAM High numbers (all totals for the district). The section below shows the total April headcount for those buildings compared with the previous month's headcount. Overall there is no change in headcount between March and April, however there was some movement in and out of grade levels.
Please let me know if you have any questions.