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CFO reports school revenues of $179.1M; encumbrances top $108.1M
Summary
Calvert County Public Schools CFO Christine Jewett said year-to-date revenues are about $179.1 million (62% of the $288.1 million budget), expenditures are about $164.6 million, and encumbrances total $108.1 million; staff will propose an inter-category transfer to address a roughly $47,000 transportation deficit.
Christine Jewett, the district's chief financial officer, presented an eight-month fiscal update showing revenues, expenditures, and encumbrances as of the end of February.
"Total revenues received year to date are approximately $179,100,000, which represents about 62% of our total budgeted revenue of $288,100,000," Jewett said. She reported year-to-date unrestricted expenditures of about $164,600,000 and encumbrances of $108,100,000, noting that combined spent or committed totals equate to roughly 95% of the budget. Jewett called attention to $145,000 in snow-removal costs recorded in the operation-of-plant category and said the transportation category currently reflects an identified shortfall of approximately $47,000 resulting from a prior calculation error.
Jewett also described diesel-fuel monitoring and contractor adjustments: the district surveys local fuel prices and adjusts contractor pay accordingly; she said diesel averaged $3.22 per gallon on Feb. 16 and $4.26 per gallon on March 16, an approximately $1 increase in one month. She told the board staff will bring an inter-category budget transfer next month to address the transportation shortfall and projected diesel-fuel impacts.
