Agenda Item
i. Acceptance of the April 2023 Monthly Financial Reports
Summary: Presented by: Mr. Byron Schueneman, Chief Financial Officer, Division of Finance
Request: It is requested that the Board of Education accept the April 2023 Monthly Financial Report.
Contact: Mr. Byron Schueneman, Chief Financial Officer, Division of Finance, Division of Finance, 678.676.0278
Status: General Counsel approval not required
DEKALB COUNTY BOARD OF EDUCATION
GENERAL FUND - PRIOR YEAR COMPARISON CHARTS
April - 04/30/2023
Revenues Comparison
90,000,000
80,000,000
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 6,955,254 74,747,109 105,894 81,808,257
FY23 - Current Fiscal Year 8,157,995 56,068,717 1,759,770 65,986,482
FY22 - Prior Fiscal Year FY23 - Current Fiscal Year
Prior year reported State Revenue of $74.7 million was elevated due to the receipt of $19.9 million in one-time special funding as issued in April 2022. Excluding this one-
time special funding, a comparable benchmark for the current period would be $54.8 million.
Current year monthly State Revenue reported of $56 million is in-line with this expected benchmark. Furthermore, it represents the first month of additional QBE, Quality
Basic Education, revenue to fund the employer portion of administratively mandated health insurance rate increases for certified employees.
Both Local Revenue and Other Revenue are again outpacing previous year collections. Local revenue, which consists primarily of property tax receipts as received from the
Property Tax Commissioner, has been consistently higher throughout the fiscal year. Furthermore, Other Revenue continues to outperform prior year levels due to increased
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 85,599,985 7,902,000 10,419,632 23,827,363 127,748,980
FY23 - Current Fiscal Year 73,452,356 6,718,680 11,341,000 19,243,429 110,755,465
FY22 - Prior Fiscal Year FY23 - Current Fiscal Year
The $110 million in reported current month expenditures is in line with expectations and previous month averages. While overall expenditures decreased as
compared to the previous fiscal year, April 2022 expenditures were elevated due to the issuance of one-time state funded supplements to qualifying
employees.
The current month expenditures are reflective of administratively mandated increases in the employer portion of SHBP, State Health Benefit Plan, insurance.
The District's portion of monthly costs for certified staff increased from $945 to $1,580 per person, which represents approximately $4 million in additional
health insurance costs per month for all periods moving forward. Additionally, rate increases for the employer portion of classified staff will begin in FY24.
Expenditures for instructional teacher salaries for the current month are $38.7 million, notably lagging behind prior year levels of $39.4 million despite
increases in the average cost of single educator. Declines in overall staffing due to the nation-wide educator shortage persist to offset individual cost increases.
Furthermore, expenditures for Maintenance and Operation were higher than the previous reporting period, primarily driven by the purchase of multiple Public
Safety vehicles, as well as rising utility and repair costs.
DEKALB COUNTY BOARD OF EDUCATION
GENERAL FUND - PRIOR YEAR COMPARISON
April - 04/30/2023
Revenues:
Description FY22 - Prior Fiscal Year FY23 - Current Fiscal Year Difference
Local Revenue 6,955,254 8,157,995 1,202,741
State Revenue 74,747,109 56,068,717 (18,678,392)
Other Revenue 105,894 1,759,770 1,653,876
Total Revenue 81,808,257 65,986,482 (15,821,775)
Expenditures:
Description FY22 - Prior Fiscal Year FY23 - Current Fiscal Year Difference
Instruction 85,599,985 73,452,356 (12,147,629)
Pupil Services 7,902,000 6,718,680 (1,183,320)
Maintenance and Operation 10,419,632 11,341,000 921,368
Other Functions 23,827,363 19,243,429 (4,583,934)
Total Expenditures 127,748,980 110,755,465 (16,993,515)