Date: November 22, 2011
To: Michael Green, Superintendent
Subject: October Financial/Enrollment Report
From: Stacy Brown, Director of Business Services
I have attached the 2011-12 Budget vs. Actual and Comparison to 2010-11 and Fund Budget Status reports for the months of September and October. Revenues in September were $145,000 less than expected. This is because the revenues accrued at year-end were reversed in September, even though some of the revenues were not received until October. As you can see, the revenues catch up in October ($180,000 greater than expected). Payroll was very close to expected in September and about $38,000 greater than expected in October. We paid out about $32,000 more in teacher days than in the past couple of years and also substitute time was greater than in the past. Accounts payable were greater than expected in September and October, but at the beginning of the year, Accounts Payable is hard to estimate, but the amounts paid do not look unusual.
As you know, the Legislature will be holding a special session starting on 11/28/11 to approve a plan which may include cuts in the current 11-12 school year. I hope to have projections, including any cuts, to you at the second meeting in January. I will try for December, but not sure if I will have numbers by then. This gives you something to look forward to for next couple of months.
Now, for this meeting, I will be presenting the Financial Statements for the year ended August 31, 2011. I have attached the presentation documents, which include cover sheet, Summary of All Funds, Financial Highlights, Final Sources/Uses and Final Ending Fund Balance, Fund Balance History, Comparison of Actual Revenues to Prior Year, Summary Comparison of Actual Expenditures to Prior Year and Expenditure Comparison to Prior Year, by Program. I have also attached a portion of the official F-196 report, which includes the Certification Page, Balance Sheet for the Governmental Funds, Statement of Revenue, Expenditures and Changes in Fund Balance for the Governmental Funds, Statement of Fiduciary Net Assets for the Trust Fund, Statement of Changes in Fiduciary Net Assets for the Trust Fund, Schedule of Long-Term Debt, Report of Revenue and Other Financing Sources and the Program/Activity/Object Expenditure Report. Please review the attached and prepare your questions for the board meeting.
The enrollment spreadsheets are also attached, with summaries by headcount for September through November and a comparison of budgeted FTE to actual average FTE. The District enrollment is down 27 students and almost 25.00 FTE from October, putting the average FTE at 47.33 greater than budget. There is some good news in that between November 2nd and November 22nd, we have enrolled a net of 14 students. Depending on what happens between now and December 1st, it looks like we will get some kids back, moving back closer to the average. I will continue to keep you apprised each month and will let you know how this affects the district projections starting with December financial data in January.
Please let me know if you have any questions.