Date: September 18, 2020
To: Michael Green, Superintendent
Subject: August Financial/September Enrollment Report
From: Stacy Brown, Director of Business Services
I have attached the reports for all activity through the month of August. These reports include revenues through the end of August and expenditures through the September p-card payment. We will continue to pay invoices against the 19-20 school year budget on 9/30 and 10/15 as they come in. Revenues will also be accrued for the Federal programs, including claiming the CARES funds.
The first attachment (page 1) shows the General Fund Month-End Balances for the year and how it has compared with the past 3 years. As you can see, the month to month ups and downs are pretty consistent, with the big difference this year showing in July and August. The apportionment schedule was changed this year and we received less apportionment in some months, with the 2.5% received in July. This shows a projected ending fund balance ofg just over $3.7M, which is an increase of just over $1M for the year. By the time the year-end entries are made with accrued revenues and expenditures, I expect this number to increase by approximately $350,000, resulting in an ending fund balance of approximately $4M.
The next document is the General Fund Financial Summary (page 2) which shows the current year actual revenues and expenditures compared to the year to date amounts collected in the previous year (first box) and the current year to date revenues and expenditures and the amounts collected/spent in comparison with the budget. You can see that we have received 99.58% of budgeted revenues and spent only 95.59% of budgeted expenditures. Due to the pandemic our expenditures in some areas were much lower than budgeted. I will go into more detail on this when I present the financial statements in November.
The final reports include the General Fund Revenues Dashboard Summary (page 3) and the General Fund Expenditure Dashboard Summary (page 4) which have a summary of the general fund revenues and expenditures and the amounts collected to date compared with the projected YTD amounts. I look forward to presenting these reports starting in September for the 20-21 fiscal year.
The first enrollment document (page 5) is a summary by headcount for September. I also included a comparison to June. I rolled the June counts to the next grade level for a better comparison of each grade level total from last year and compared to this year. For example, 1st grade you see last year’s Kindergarten count in the June column compared with this year’s 1st grade count. The count by grade level do include the Yale, LRA and TEAM High numbers. The section below shows the total June headcount for those buildings compared with the current headcount. Overall, we are down 58 students from last year. However, we are up almost 200 students in our alternative programs.
The second enrollment document (page 6) shows a comparison of average FTE compared to budgeted FTE. Funding is based on FTE (not headcount) so this is the important document. Funding is also based on our average annual FTE (which only includes September at this time). From this document you can see that for September our enrollment is 44.10 FTE below budget. I will be running estimates each month to determine how the enrollment affects our revenues. New this year I am also including the Special Education enrollment numbers and how they compare to budget. Special Education enrollment average is figured October through May (does not include September as it usually takes time after schools starts to identify new students and make sure all requirements are met to serve and report them), so don’t panic yet when you see the numbers. I will continue to keep you apprised each month and will let you know how this affects the district projections starting with data in October.
Please let me know if you have any questions.