Agenda Item
i. Approval of the February 2023 Monthly Financial Reports
Summary: Presented by: Mr. Jonathan Lance McConkey, Comptroller, Division of Finance
Request: It is requested that the Board of Education accept the February 2023 Monthly Financial Report.
Contact: Mr. Jonathan Lance McConkey, Comptroller, Division of Finance, 678.676.0445
Status: General Counsel approval not required
DEKALB COUNTY BOARD OF EDUCATION
GENERAL FUND - PRIOR YEAR COMPARISON CHARTS
February - 02/28/2023
Revenues Comparison
70,000,000
60,000,000
50,000,000
40,000,000
30,000,000
20,000,000
10,000,000
0
Local Revenue State Revenue Other Revenue Total Revenue
FY22 - Prior Fiscal Year 14,338,932 47,861,420 16,843 62,217,195
FY23 - Current Fiscal Year 7,855,291 48,691,038 1,798,556 58,344,885
FY22 - Prior Fiscal Year FY23 - Current Fiscal Year
Monthly revenue was in line with expectations, with the largest revenue source, State Quality Basic Education, being comparable to the previous period. Local
property tax receipts were below prior year levels, as the vast majority of property tax revenue for fiscal year 2023 has already been received. Other Revenue is
once again far exceeding prior year levels due to rising interest earnings on the District's reserves held in the Local Government Investment Pool and other cash
accounts.
Expenditures Comparison
140,000,000
120,000,000
100,000,000
80,000,000
60,000,000
40,000,000
20,000,000
0
Instruction Pupil Services Maintenance and Other Functions Total Expenditures
Operation
FY22 - Prior Fiscal Year 70,076,081 6,291,957 7,843,484 19,353,295 103,564,817
FY23 - Current Fiscal Year 85,817,890 7,366,420 8,930,784 22,303,698 124,418,792
FY22 - Prior Fiscal Year FY23 - Current Fiscal Year
Expenditures related to instruction increased 22 percent as compared to the previous reporting period, primarily driven by the distribution of the employee
retention supplement in the amount of 1,000.00 per eligible full-time employee, for a total one time monthly expenditure of 12,739,794.29.