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District presenter says August finances are on track; revenues very small year-to-date
Summary
At a Wauwatosa School District meeting, a presenter reported August financials showing roughly 0.3% of expected revenues year-to-date and expenses around 7%–8% of budget, with staff noting no immediate concerns and that the end of next month will provide the first reliable projection.
A presenter for the Wauwatosa School District reviewed the district's August financials and said revenues remain very small this early in the fiscal year while expenses are tracking slightly above projections. "We would expect, in the neighborhood of about one third of 1% of our revenue," the presenter said, adding the district is at about 0.3 percent through this point.
The presenter framed the numbers as typical for two months into the school year and said the district ran its first teacher payroll on Aug. 30, a milestone for the year. On expenses, the presenter said the district is projecting around 7 percent through this point and is "just over 7%" currently, with salaries and benefits tracking well and some other objects slightly over projection.
Using a dashboard visualization that shows the total budget (blue), projections (gray) and current amounts (orange), the presenter said the amounts received so far are so small they barely appear on the revenue scale, but that projections and current values are "really tight," indicating alignment with expectations.
The presenter compared year-to-date dollar figures to the prior year, noting local revenue was $251,000 at this time last year versus $145,000 so far this year. He said the district's forecasting method adds anticipated amounts for the remaining 10 months to year-to-date totals; the forecast currently projects local revenues slightly over budget by about $34,000. The presenter emphasized these are early reference points used to track month-over-month change.
Recalling that last year staff curtailed nonessential purchase services about two-thirds of the way through the year, the presenter said staff will continue to monitor spending and expects figures to "revert to the mean" as the year progresses. He closed by saying the end of next month — the end of the first quarter — will provide the first reliable indicator for longer-term projections.
