Date: February 22, 2011
To: Michael Green, Superintendent
Subject: January Financial/Enrollment Report
From: Stacy Brown, Director of Business Services
Attached are the January 2011 monthly cash flow statement for the general fund and budget status reports for all funds for the month of January. I have also included the 10-11 Sources/Uses and Projected Fund Balance spreadsheet with updated numbers for this year.
The cash flow statement (10-11 Budget vs. Actual and Comparison to 09-10) shows revenues $95,000 greater than expected, payroll about as expected and accounts payable approximately $166,000 less than expected. Revenues are greater than expected because the Federal grants were not claimed last January (I missed the deadline and claimed two months in February). Accounts payable is less than expected in that the annual transfer to the Transportation Vehicle Fund is usually made in January, but was not done this year. The money that would usually go to TVF to purchase growth buses is being used to purchase the KWRL land. Woodland paid for the land from our Capital Projects Fund using current CPF funds and State Forest Funds transferred from Debt Service. The other districts reimbursed the fund for their share and Woodland will use the State Forest money transferred from Debt Service to cover the $183,000 that is our share for this year.
The Projected Sources/Uses/Ending Fund Balance spreadsheet calculates an unreserved increase in fund balance of approximately $293,000. All departments and buildings continue to be very expense conscious and it looks like we will finish the year with an unreserved fund balance just over $2,066,000. The projections include cuts approved in the 10-11 supplemental budget. Originally we thought that the entire K-4 enhancement dollars would be taken away, but the approved supplemental budget decreases the K-4 enhancement by 75%, which means we will get about $82,000 in K-4 enhancement for this year. The increase in fund balance is a result of increased enrollment over budget and the use of State Forest Funds for the purchase of the KWRL property, saving $181,000 in the general fund that will not be transferred to TVF for the purchase of buses. With the increased enrollment, even with the cuts to the current year, I feel the district is in a good position moving into the next biennium. The board recommends a fund balance of 5%, which equates to just over $1,000.000. The increases we have made over the past few years should help to lessen the blow of state cuts and the end of the Stimulus funds.
Fund balance statements for all funds for January are attached. I did notice that with the PO for the portable in the system, the Capital Projects Fund will overspend the approved appropriation. We will need to do a budget extension before we pay for the portable. You will see a resolution for a CPF budget extension at the next board meeting. Other than that 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.
The enrollment spreadsheets are attached, with summaries by headcount for September through February and a comparison of budgeted FTE to actual average FTE. We lost 2 heads, but managed an FTE increase of .61 January and February. The February count was still 59.11 FTE greater than budget and the average continues to hold at 61.01 greater than budget. I ran a report of enrollments and withdrawals since count day and it looks like we are up about 6 heads since February 1st.
Please let me know if you have any questions.