To: Asha Riley, Superintendent
From: Stacy Brown, Director of Business Services
Date: February 25, 2025
Subject: January Financial/February Enrollment
As required by RCW, I have attached the January Budget Status Reports for all funds (pages 1-5). Since I updated the projections spreadsheet, I won’t be able to go through the reports in detail here, but if you have questions, please let me know. I am keeping a close eye on our cash flow. You can see from the January Budget Status Report we ended the month with $626,000 in the General Fund. This was enough to cover the mid-month accounts payable and pcard payments in February without needing the loan from Capital Projects. The cash balance at the end of February was very close to this balance and we still do not need to go to CPF for the loan. I will keep a close watch on things through the end of March. Once April hits and the tax revenues start coming in, we will be in the clear.
I finally got the models set up in the Frontline software and loaded up all of the revenues and expenditures through January. I was very excited to run some reports until I ran them, and the system projected a loss of $6M! Knowing the reports were not correct yet, and the Frontline staff did not have an appointment available for me to work on the issues with them, so I took the time to prepare projected revenues, expenditures and ending fund balance the old-fashioned way (Sources and Uses spreadsheet attached).
Sources and Uses Spreadsheet (page 6):
The attached spreadsheet includes projected revenues and expenditures (separated by the apportionment revenues, other programs, and miscellaneous revenues). The ending fund balance is estimated to decrease by approximately $355,000. We received the transportation allocation and transportation safety net funds which together are about $225,000 greater than budget. Once I have the models up and working, I will provide detailed differences between projected and budget for revenues and expenditures. Skyward calculates salaries and benefits paid to date and also includes the amounts that will be paid for staff contracts for the remainder of the year, so this makes projecting much easier. I still have to estimate based on historical and other reasons for things like subs, additional time, overtime, etc. I estimated high on the expenditure side for items such as utilities, curriculum, technology, custodial, maintenance, fuel and transportation parts and supplies. I will keep you up to date with February projections next month.
I attached the enrollment reports for February (pages 7 and 8). The FTE count for February is 11.1 greater than budget. This is down 4 heads and 5.12 FTE from January. The average for the year is still 9.6 above budget. If you look at the headcount sheet, overall we are down 4 students, but this includes lots of movement (ups and downs) in all grade levels. We usually see quite a bit of movement at the semester change. First semester ended on January 24th. The Special Education numbers are also included. As of February the overall average is 7.20 FTE greater than budget (-1.4 at PK and 8.6 in K-21). (pages 9-10).
Please let me know if you have any questions about the attached Budget Status, projections, or enrollment reports.