As we close out May activity it becomes much easier to hit the target for what June 30 (year-end) may look like with the many changes/variations to the budget/plan approved at the beginning of the fiscal year. There is much less room for large unexpected variances with only 30 days remaining in the fiscal year.

With this months review of the current month’s activity (May) showing a YTD surplus of $285K in combination with the previous months in this fiscal year there was an overall improvement to my projections to what Jun 30 may look like. I’m currently expecting a year end surplus of $168K, however there are some area’s that could affect this number that have a small level of unpredictability. From my perspective this $168K surplus at year end is a conservative estimate, possible to improve – HOWEVER, I have previously recorded $301K of Revenue from the Foundation. We had discussed at the close of June’s activity the desire may be to reduce this amount of revenue to lessen the impact to the Foundation, but still allow the School to end the year positively. I’ll take direction from you all on that and what your expectation of the year end surplus is in conjunction with the Foundation’s Transfers on record.

In other new, I had a meeting with Dr. O’prey and Dr. Miller with Drew and Kim present as well to go over the remaining ESSER III funds available on Tues this week. In preparation for that meeting I gathered $51K of eligible ESSER expenses for submission to the district for reimbursement. As we’ve discussed in the past a large portion of the ESSER plans are for Software which is renewed annually typically starting in late Spring carrying over into early Fall, this is where a large portion of the $51K was categorized. The Tutoring program and reimbursement of 1 teacher and 1 custodian makes up a large majority of the remaining eligible expenses per the approved plan. I’ll continue to monitor this through September 2024 when the final expenses are to be made for this program. 

The audit engagement letter has been signed and returned to the firm, they will reach out at any point I’m sure to start gathering information and/or have preliminary conversations with administrators at the school.

Budget conversations have remained very active, we met Tues also for this purpose. A few more changes were discussed/requested, which Desi and I have worked through, I’ll be sending that updated document out also in the next few hours.

Let me know if you guys need anything. I’ll be talking with you all on the call Monday.

Changes made were:

• Added LCIR - $433,859
  • Moved all Property, General Liability & Directors/Officers insurance to the Schools budget.
  • To further utilize the LCIR, moved all leases from Foundation budget to being directly paid by the SCHOOL.
  • These additions along with the Repairs and Maintenance previously added net out the Revenue. There is no surplus of LCIR reflected.
• Increase inflation of Employee Health Insurance by an additional 2%, from 5% to 7%
• Reduced HS FTE by 2% for attrition, roughly 5 FTE.

Currently draw is at $218,845, with the School making the direct payments mentioned above. Let us know your thoughts on that, after the conversation you and I had, we felt this was the direction you were headed. To bring all School expense back to their budget. This also, provides an expense to offset all LCIR (restricted) earned. This doesn’t change that the School will continue to pay the Foundation $168,000 for lease of the facilities using the regular Capital Outlay (restricted) dollars for the Foundation to donate the funds back as unrestricted revenue.  

Only other changes that are expected:

1. Principal Salaries
2. Confirm of TBD salaries
3. Add High School Facilities Cleaning Cost ($38,500)
4. Possible ST Disability $10,000

Budget is attached.

Principal Scale to be discussed

Updated Seaside Principal Salary Scales (Click here)

Issues with comparisons to Walton County

1. Walton County minimum size school is 350 middle and 500 high school. Seaside is 196 and 248 respectively.

 - Note, we do not have a Central Office and the principal is the "everything" at each school.

2. Walton County scale begins at time of administrative experience. 

Recommendations:

Column H is current recommended scale

Option #1: Start at administrative Experience (3% above local)

Option #2: Accept TOTAL years of service (12 to 15% above local scale)

Note: Masters adds $3,000 to salary. 

Walton County Principal Scale 

Here is the drafted budget for the funding provided by the Local Funds. This will cover all expansion costs for the 2023-2024 school year. 

https://docs.google.com/spreadsheets/d/15cECi8JFw2gdxBtiwP97Or2ktMFR_vYq_JjE01jT8zs/edit?usp=sharing