November 19, 2012
To: DEAL PTA Members
Fr: Richard Nugent, Treasurer (Ranugent@aol.com)
Re: October Financials
General: The approved budget for the 2012-2013 school year includes net income projections of $154,725 and expenses of $187,157 for a deficit budget of $32,432. This represents an intentional spend-down of reserves that have accumulated over the years.
October 31 Summary: Income received has totaled $84,651 including $73,762 in dues payments; $7,000 in sponsorships; $3,159 in School Store items; and $730 in misc other income. Income received is 54.7 percent of budgeted net income. We are on-track to making our fully budgeted amount for dues ($75,000) and have reached the budgeted income for sponsorships ($7,000). Income from International Night fell short of the budgeted amount ($5,000) and will be reflected in next month’s report. The major outstanding income items are associated with the spring auction ($55,000) and the Holiday Greens Sale ($9,000). Expenses incurred in generating our income lines totaled $8,717 including sales tax related to the 2011-12 holiday greens sale and the purchase of new items for the school store ($5,575). Net Income totals $75,429.
Expenses incurred since the start of the school year total $23,521 including:
- $17,798 expended toward support of the Deal Educational Program (including $7,424 toward the IB Program; $4,997 Supplies (student organizers); and $4,400 for Technology (smartboard maintenance, etc);
- $3,029 toward School Activities including $1,014 for orientation (6th Graders); $702 toward last year’s Promotion Ceremony (8th Grader Expense); and $611 for Extracurricular Activities (Clubs, etc);
- $1,485.00 toward Building Maintenance;
- $527 toward PTA-related expenses (the Deal website and bank and credit card fees);
- $682 in other misc expenses
Through Ocotber 31, expenses totaled 12.6 percent of budgeted expenses.
Summary: With $84,651 of income and $32,239 of expense through October 31, we have a net surplus for the school year of $52,412. Many of the budgeted expenses occur during the second half of the school year while most of the income is received in the fall. Again, budgeted expenses total $187,157.