Nov%2030%202024%20Financial%20Report%20to%20Board%20of%20Directors.pdf

Parent document: School Board Regular Business Meeting-01-28-2025.pdf

Text

Edmonds School
District
Monthly Financial
Report

Unaudited
For the Month Ended November 30, 2024



ANNUAL ACTUAL $ % ANNUAL ACTUAL $ % %
BUDGET 11/30/2023 VARIANCE BUDGET BUDGET 11/30/2024 VARIANCE BUDGET YEAR
General Fund
Beg. Fund Balance $ 25,000,000 $ 21,339,587 $ (3,660,413) 20,500,000 24,845,314 4,345,314
Revenue 394,425,000 93,840,912 (300,584,088) 23.79% 426,530,000 106,299,384 (320,230,616) 24.92%
Expenditures 398,825,000 351,719,988 47,105,012 88.19% 425,600,000 374,859,111 50,740,889 88.08%
End. Fund Balance $ 20,600,000 $ 17,621,618 $ (2,978,382) 21,430,000 26,642,142 5,212,142

ASB Fund One quarter
Beg. FundBalance | $ 1,472,395 $ 1,679,143 $ 206,748 1,452,000 1,596,668 144,668
Revenue 3,370,000 716,279 (2,653,721) 21.25% 3,525,000 605,377 (2,919,623) 17.17% of the year
Expenditures 3,640,000 538,000 3,102,000 14.78% 3,708,000 551,372 3,156,628 14.87% has elapsed
End. Fund Balance | $ 1,202,395 $ 2,067,476 $ 865,081 1,269,000 1,867,869 598,869 p .
Revenues
Capital Projects Fund and
Beg. Fund Balance | $ 51,275,000 $ 73,386,251 $ 22,111,251 260,000,000 293,998,120 33,998,120 expenditu res
Revenue 306,775,000 25,823,512 (280,951,488) 8.42% 51,935,000 28,240,801 (23,694,199) 54.38% .
Expenditures 117,000,000 15,636,514 101,363,486 13.36% 212,741,000 99,500,525 113,240,475 46.77% are tracking

End. Fund Balance $ 241,050,000 $ 93,264,895 $ (147,785,105) 99,194,000 312,613,621 213,419,621

appropriately
for each fund.

Debt Service Fund

Beg. Fund Balance $ 6,100,000 $ 9,120,367 $§$ 3,020,367 8,870,000 8,919,765 49,765
Revenue 22,010,850 7,466,856 (14,543,994) 33.92% 33,637,000 8,147,305 (25,489,695) 24.22%
Expenditures 22,300,000 - 22,300,000 0.00% 27,157,000 - 27,157,000 0.00%

End. Fund Balance $ 5,810,850 $ 16,587,223 $ 10,776,373 15,350,000 17,067,070 1,717,070

Transportation Vehicle Fund
Beg. Fund Balance $ 4,540,000 $ 7,009,167 $ 2,469,167 9,100,000 9,054,275 (45,725)
Revenue 1,860,000 49,067 (1,810,933) 2.64% 1,970,000 110,517 (1,859,483) 5.61%
Expenditures 2,200,000 357,924 1,842,076 16.27% 3,000,000 - 3,000,000 0.00%
End. Fund Balance $ 4,200,000 $ 6,700,310 §$ 2,500,310 8,070,000 9,164,793 1,094,793



REVENUES
Local Tax
Local Support Non-Tax
State General Purpose
State Special Purpose
Federal General Purpose
Federal Special Purpose
Other School Districts
Other Revenues

TOTAL REVENUE

EXPENDITURES

Salaries - Certificated Employees

Salaries - Classified Employees

Employee Benefits and Payroll Taxes
Supplies, Instr. Resources, and Non-Cap Items
Purchased Services

Travel

Capital Outlay

Transfers

TOTAL EXPENDITURES

SURPLUS / (DEFICIT)

OTHER FINANCING SOURCES / (USES)
Other Financing Sources

Other Financing Uses

NET CHANGE IN FUND BALANCE

ENDING FUND BALANCE

General Fund | Financial Summary

For the Period Ending November 30, 2024

Prior YTD

$28,315,144
1,578,778
46,666,171
14,707,311
0

485,193
866,460
637,333
$93,256,390

$48,107,965
17,064,506
21,031,793
2,894,212
8,405,076
31,521
21,947
1,861
$97,558,881

($4,302,491)
$584,523
$0
($3,717,968)

$17,621,618

Prior Year Actual

$62,020,714
8,633,560
217,519,561
77,701,005
47,937
21,187,884
4,637,041
3,025,188
$394,772,890

$190,728,260
70,325,212
86,122,446
12,468,597
37,946,549
474,724
707,933
(0)
$398,773,721

($4,000,831)
$7,506,559
$0

$3,505,727

YTD % of PY
Actual

45.65%
18.29%
21.45%
18.93%

0.00%

2.29%
18.69%
21.07%
23.62%

25.22%
24.27%
24.42%
23.21%
22.15%
6.64%
3.10%
0.00%
24.46%

CurrentYTD

$28,022,823
3,032,116
50,005,844
16,749,980

0

2,397,039
913,792
605,388
$101,726,982

$49,538,606
17,667,052
22,607,283
3,794,206
9,058,070
25,227
15,284

0
$102,705,728

($978,746)
$2,775,574
$0
$1,796,828

$26,642,142

Annual Budget

$63,866,110
$21,387,286
$227,257,886
$81,077,521
$50,000
$16,170,058
$3,740,000
$2,918,139
$416,467,000

$196,944, 188
$71,593,340
$92,229,421
$22,243,207
$42,413,392

$64,007
$117,320
($4,875)
$425,600,000

($9,133,000)
$10,063,000
$0

$930,000

YTD % of
Budget

43.88%
14.18%
22.00%
20.66%

0.00%
14.82%
24.43%
20.75%
24.43%

25.15%
24.68%
24.51%
17.06%
21.36%
39.41%
13.03%

0.00%
24.13%

Tax
collections
are slightly
lower than
last year, but
otherwise
tracking very
consistently
with prior
year and
budget


$60.0
$50.0
$40.0
$30.0
| $20.0
| $10.0

$0.0

Revenues by Source | Prior YTD vs.

Current YTD
$60.0
$50.0
$40.0
$30.0
$20.0
8 ee
os > ¢ ~ & © 70.0
C> oO Oy Oo & w
> < * Xe & ev & e
& Ca io Ro & <e Pas
\ i a rr a on 3

MPrior YTD & Current YTD

Expenditures by Program | Prior YTD
vs. Current YTD

@ Prior YTD
m Current YTD

A

< fey > 4 CurnS
RO «Ss <s @ (e) ~ oO x
BS oS o£ FS ee
SF YS & cS xs
Rs $$ Ss GC ok


General Fund Revenues | Dashboard Summary

For the Period Ending November 30, 2024 Expenditure are
at 24.13% and

Total Revenues Local Sources State Sources Federal Sources 0
Actual YTD Actual YTD Actual YTD Actual YTD we are 25%
seuss through the year.
23.85% 21.65% saree We continue to
review
expenditures in
Projected YTD Revenues Projected YTD Local Sources Projected YTD State Sources Projected YTD Federal Sources CaS€ a b Uu d g et
24.18% 38.18% 21.58% 14.37% 7 : .
extension
G (FundE di Dashboard S (mee
eneral Fund Expenditures | Dashboard Summar . .
P | y increase) is
For the Period Ending November 30, 2024 needed.
Projected YE Balance as Total Expenditures Salaries & Benefits Basic Education
% of Budgeted Expenditures Actual YTD Actual YTD Actual YTD
24.13% 24.90%
6.05%

Projected YTD Expenditures Projected YTD Salary/ Benefits Projected YTD Basic Education
23.94% 24.76% 25.19%



General Fund | Month-End Balances

For the Period Ending November 30, 2024

Month-End Balances (Year-over-Year Trend)

$45,000,000
$40,000,000 nH
$39,677,242
A
$35,000,000 |——_________ $36, 643,625
YN h
AY
$30,000,000 ss
\* . ?
\ Se ‘ = ' $28,179,285 gf
4 yy —o
$25,000,000 —y>—\ 7 Ke $26,642, 14; N ~~. ZS $5,766,233
N ree $25,766,
$24,845,314 \ 44 N = $54,400,516 e
bh P f x -e \ $23,295,169 7 ps]
$20,000,000 |S ¢ SS -u Paid 2
$20,694,192 % ; PA
‘ U \ wh Pa
>< $19,780,958 4 v4 #
Ul De ing bry a a’
4! if ween Pe ee eT 46
$15,000,000 Speen so= Os $15,959,604" 7
«$15,599, - . cS
af - tf
a)
v4 fe
$10,000,000
$5,000,000
0
August September October November December January February March April May June July August

—O—Current Year / Projected =O» Prior Year De Prior Year 2 De Prior Year3 —*— Budgeted Year-end Balance

Very
consistent
with
previous
month,
Stable.


20,200
20,100
20,000
19,900
19,800
19,700
19,600
19,500
19,400
19,300
19,200
19,100
19,000
18,900
18,800
18,700
18,600
18,500

EDMONDS SCHOOL DISTRICT NO. 15
COMPARATIVE FTE ENROLLMENTS

\

Sep

Oct

Nov Dec Jan Feb Mar Apr May

June

mmm 2021-2022 Monthly Actual 5 2022-2023 Monthly Actual
mam 2023-2024 Monthly Actual mmm 2024-2025 Monthly Actual
—H— 2021-2022 Annual Average —@O— 2022-2023 Annual Average
—— 2023-2024 Annual Average tr 2024-2025 Annual Average

Enrollment is
dependent
on attrition in
the spring,
particularly
at the
secondary
level, but is
trending
appropriately
with budget.