Date: March 18, 2009To: Michael Green, SuperintendentSubject: February Financial ReportFrom: Stacy Brown, Director of Business Services
Attached are the 08-09 February monthly cash flow statement for the general fund and budget status reports for all funds for the month of February. I have also included the Sources/Uses spreadsheet projecting the district's ending fund balance as of August 31, 2009.
The cash flow statement (08-09 Budget vs. Actual and Comparison to 07-08) shows payroll and accounts payable $27,500 and $76,600 less than expected and revenues approximately $350,000 less than expected. Payroll is less than expected due to one budgeted position that was not filled and January was a very, very low month for paying extra certificated days. Accounts payable is less than expected mainly due to fuel decreases. Last February we paid almost $60,000 to Wilcox and Flegel and this year we paid only $9,000. We also paid $19,000 for the KWRL HVAC system last February. Revenues are less than expected for a couple of reasons. For the last few years, we were not able to claim Federal Special Ed and State Transitional Bilingual revenues until February, resulting in about $215,000 received in February. However, this year, OSPI changed the way the claims for these programs work and we have been claiming for them as the expenditures are made on a monthly basis (we receive roughly $36,000 for these programs this month). The second large difference is due to a difference between actual Transportation and budgeted transportation. The actual allotment is approximately $60,000 than budgeted. We had been paid on the budgeted amount from September through January and the entire adjustment from budgeted to actual for those months decreased our February apportionment by almost $70,000. We also received $35,000 less in Timber Excise tax and $12,000 in State Forest revenues in comparison with other years.
Fund balance statements for all funds for February are attached. I do not see any specific areas identified on these reports that need explanation, that are not explained through the cash flow and projections summary.
I have also attached the projections spreadsheet, calculating ending fund balance at August 31, 2009. The difference between projected revenues and expenditures results in a fund balance increase of just over $196,000.00, with approximately $108,000 planned as reserve for building budget carryovers. As of the date of this spreadsheet, enrollment has evened out and I have estimated using these figures. I have included actual transportation allocations, but am still waiting to hear what the KWRL portion of the additional $6 million allocated for transportation for this year will be. As noted last month, there are a couple of reasons for the projected increase, one of those being the $53,000 in safety net that the district received for three high-cost special education students. I also received information on revenues generated in the first of three quarters of the Admin Match program. I budgeted a total of $30,000 and found out that we will receive almost $27,000 for the first quarter. I have included a conservative estimate of $50,000 for the year. All staff are also making conscious efforts to decrease spending to carry money into next year to minimize the effects of possible cuts. Deb Kernen is also working with her staff to identify 3-4 more high-cost students who might qualify for Safety Net, as the district is eligible for another $127,000 in Safety Net funding for this year. I will continue to look at the districts financial position on a monthly basis and make adjustments, as more information becomes available.
The enrollment spreadsheets are also attached, with summaries by headcount for September through March and a comparison of budgeted FTE to actual average FTE. We are down 1 on headcount, and down almost 3.0 FTE from February, putting the average FTE at 5.84 less than budget. All of the decrease in FTE was at the 9-12 level.
Please let me know if you have any questions.