Agenda Item
i. Acceptance of the May 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 May 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
May - 05/31/2023
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 8,517,724 52,673,790 81,683 61,273,197
FY23 - Current Fiscal Year 6,438,976 56,590,449 1,631,401 64,660,826
FY22 - Prior Fiscal Year FY23 - Current Fiscal Year
Monthly revenue was in-line with expectations and comparable to the previous reporting period. Modest growth was experienced in State Revenue attributable to additional
QBE, Quality Basic Education, revenue received to fund the employer portion of administratively mandated health insurance rate increases for certified employees.
Other Revenue, which consists mainly of interest earnings, continues to outpace prior year levels due to increased yields on the District's reserves held in the Local
Government Investment Pool and other cash accounts.
Expenditures Comparison
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 70,580,849 6,540,526 8,387,150 18,732,922 104,241,447
FY23 - Current Fiscal Year 77,420,640 7,407,977 11,716,400 21,520,630 118,065,647
FY22 - Prior Fiscal Year FY23 - Current Fiscal Year
Overall expenditures increased 13.3% as compared to the previous fiscal year. This increase is primarily driven by the May 2023 issuance of the Meritorious
Attendance supplement in the amount of $500.00 for all qualifying full-time employees. Furthermore, the current month includes approximately $4.1 million
in additional costs due to the mandated increase in the employer portion of health insurance rates for all certified staff.
Additionally, expenditures for Maintenance and Operation were notably higher than the previous reporting period. Expenditures for the reporting category
increased across a broad range, including rising utility costs, repair costs, and the purchase of supplies and equipment.
DEKALB COUNTY BOARD OF EDUCATION
GENERAL FUND - PRIOR YEAR COMPARISON
May - 05/31/2023
Revenues:
Description FY22 - Prior Fiscal Year FY23 - Current Fiscal Year Difference
Local Revenue 8,517,724 6,438,976 (2,078,748)
State Revenue 52,673,790 56,590,449 3,916,659
Other Revenue 81,683 1,631,401 1,549,718
Total Revenue 61,273,197 64,660,826 3,387,629
Expenditures:
Description FY22 - Prior Fiscal Year FY23 - Current Fiscal Year Difference
Instruction 70,580,849 77,420,640 6,839,791
Pupil Services 6,540,526 7,407,977 867,451
Maintenance and Operation 8,387,150 11,716,400 3,329,250
Other Functions 18,732,922 21,520,630 2,787,708
Total Expenditures 104,241,447 118,065,647 13,824,200