To: DEAL PTA Members
Fr: Richard Nugent, Treasurer (Ranugent@aol.com)
Re: September 30 Financial Report
General: The approved budget for the 2012-2013 school year includes 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.
September 30 Summary: Income received has totaled $75,263.49 including $67,917.46 in dues payments; $3,500 in sponsorships; $3,128.75 in School Store items; and $717.28 in misc other income. Income received is 48.6 percent of budgeted income. We are on-track to making our fully budgeted amount for dues and sponsorships. The major outstanding income items are associated with the spring auction ($55,000); Holiday Greens Sale ($9,000); and International Night ($5,000). In addition, $494.55 of income was generated by expenses (mostly profit from the spring musical). Expenses incurred in generating our income lines totaled $1,249.81 (mostly 2011-12 expenses including sales tax).
Expenses incurred since the start of the school year total $22,190.98 including:
- $16,827.99 expended toward support of the Deal Educational Program (including $7,423.55 toward the IB Program; $4,896.95 Supplies (student organizers); and $3,530 for Technology (smartboards);
- $2,135.40 toward School Activities including $1,094.14 for orientation and $701.86 toward last year’s Promotion Ceremony);
- $1,485.00 toward Building Maintenance;
- $812.16 incurred in generating income (last year’s Holiday Greens sale);
- $930.43 in other misc expenses
Through September 30, expenses totaled 11.9 percent of budgeted expenses.
Summary: With $75,263.49 of income and $22,190.98 of expense through September 30, we have a net surplus for the school year of $53,072.51.