^ I agree with Kevin. The compost is the best spring time fertilizer you can get and does not require any other fertilization until Summer. Summer time fertilization should be something very low in nitrogen high in iron. As for the compost you can put it down in a very light layer now, but I would not wait much longer as Kevin is correct in that it can burn (yellow) the grass. When you purchase fertilizer (especially Scotts) make sure that it is for your grass type. Some weed and feeds are species specific.

On an other note - I don't landscape or do maintenance for money anymore so I am not advertising services. With that said if anyone needs help w/ advice you can pm for contact and I will try to help where I can.