Agenda Item
i. Acceptance of the January 2024 Monthly Financial Report
Summary: Presented by: Mr. Byron Schueneman, Chief Financial Officer, Division of Finance
Request: It is requested that the Board of Education accept the January 2024 Monthly Financial Report.
Contact: Mr. Byron Schueneman, Chief Financial Officer, Division of Finance, 678.676.0270
Status: General Counsel approval not required.
DEKALB COUNTY BOARD OF EDUCATION
GENERAL FUND - PRIOR YEAR COMPARISON CHARTS
January - 1/31/2024
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
FY23 - Prior Fiscal Year 15,141,583 48,863,713 1,721,438 65,726,734
FY24 - Current Fiscal Year 8,714,879 49,931,804 6,660 58,653,343
FY23 - Prior Fiscal Year FY24 - Current Fiscal Year
Local revenues appear modest as compared to the prior reporting period. It should be noted that within the current month, property tax revenues related to the
Homestead Tax Relief Grant were received ~($45M). Because of measurability and availability criteria the revenue was recorded in a prior period. It should be seen
in the YTD totals. State QBE funding remained consistent with the previous reporting period. Other revenues are lower because of a timing difference in interest
recording and financial statement preperation.
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
FY23 - Prior Fiscal Year 70,932,368 6,431,955 9,527,834 19,357,828 106,249,986
FY24 - Current Fiscal Year 85,962,206 8,481,150 15,346,100 29,389,250 139,178,705
FY23 - Prior Fiscal Year FY24 - Current Fiscal Year
A large increase of expenditure was experienced in all categories due to the governor's bonus (received in December QBE) being paid out in January. Most Notably
Teacher Salaries increased by about 21% ($8M) due to the Bonus. Note a 30% increase in payments to charter schools ($1.3M). It should be noted that SHBP rates
increased the rates for Classified employees starting January 2024, which causes an increase of about $3M. Other expenditures seemed in line with prior reporting
periods.