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Finance director reports January month‑end: revenues lag, encumbrances high, some expenditure variances flagged
Summary
Lynchburg City Schools staff presented January month‑end numbers showing 43.6% of adopted revenues collected and expenditures at 51.48% of appropriation, with total expenditures including encumbrances at 94.26%.
Lynchburg City Schools staff presented the January 31, 2025 month‑end financial report on Tuesday, highlighting revenue timing and several expenditure variances.
The presenter reported that roughly 50.83% of the fiscal year had passed as of Jan. 31 and that 43.6% of originally adopted revenues had been collected year‑to‑date. Expenditures versus the original appropriation were at 51.48%, while total expenditures inclusive of encumbrances equaled 94.26%, staff said, noting encumbrances are set‑asides that may not be ultimately spent.
Staff identified notable variances: attendance and health‑services personnel had used about 90.3% of their budget line due to salary and benefits coding and placement; security services (including the Raptor system and Sonitrol monitoring) had used roughly 93.96% of its budget; and several technology lines for pupil transportation, administration and instructional support were front‑loaded because software and licensing are paid early in the year.
On revenue composition, staff reported federal revenue at about 50.8% of expected collections year‑to‑date, state revenue at 26.7% and local revenue at 30.3% (presenter noted timing differences and anticipated mid‑spring adjustments when the Virginia Department of Education disburses funds). Miscellaneous collections were at 114.2% of target while charges for services were at 87.6%.
The board asked about health‑insurance receipts, which had been lower in January compared with the prior year even though premiums rose in January; staff explained receipts often run a month behind and expected collections to increase in February and March.
Board members and staff agreed to revisit certain coding issues — for example, some attendance clerks were coded to central administration though their duties are school‑based, and staff plan to realign distribution codes to move expenditures into school budgets where appropriate.
No board action was taken; staff will return with any needed coding changes and further updates in subsequent reports.
