Hi @brywilk_umich
This Answers post asks a similar question to yours, but with a different approach scheduling a report for the 1st day of the month on the previous month's data:
http://answers.splunk.com/answers/3280/cron-schedule-for-saved-search-on-last-day-of-month
It refers to using cron scheduling from this documentation:
http://docs.splunk.com/Documentation/Splunk/6.1.2/Report/Schedulereports#Specify_a_cron_schedule_for...
Hope this helps 🙂
Patrick