02-08-2011 Regular School Board Meeting
Agenda Item #12


Title
Financial Statements with Budget Amendments for the Period Ending December 31, 2010

Discussion

The School Board receives Financial Statements which reflect the status of revenue received and expenditures as compared to approved or amended budgets.  The Financial Statements submitted for the Board's consideration are for the period ending December 31, 2010

 

In addition, the following budget amendments are submitted for Operating, Capital, and Debt Service Funds:

1.  Operating:  Revenue has increased by $100,000 since the last budget amendment

Misc Local Revenue      $100,000

Appropriations have changed to reflect budget adjustments made by schools and departments.

2.  Capital:  Revenues have decreased by $129,400 based on current estimates of interest revenue due to the prevailing rates.

Appropriations reflect requested budget adjustments between projects and objects.

3.  Debt Service:  The beginning fund balance has been adjusted to reflect an interest revenue accrual of $295,586 booked after the budget was adopted and before the audited financial statements for FY 2009-10 were final.



Recommendation
Approve the December 31, 2010 Financial Statements, Resolution 4 for the Operating Budget, Resolutions 5 - 8 for the Capital Budget, and Resolution 1 for Debt Service

Meeting Date(s)
Consent w/o Information - 2/8/2011

Authority for Action
F.S. 1010-01, 1001.02, 229.053(1), 237.02

Involves Expenditure of Funds Directly in the Classroom
No

Source of Funding
Agenda Item will not Require the Expenditure of Funds

FY
Amount
Budgeted
Fund
Cost Center
Project
Function
Object
Program

Contact

Kathy Jackson, Accounting Manager, ext. 674

Jo Ann Clark, Director of Accounting Services, ext. 660

Karen Strickland, Director of Planning, Budgets, and Reporting, ext. 610

Judy Preston, Associate Superintendent of Financial Services, ext. 600




Attachment:  December 2010 Financials.pdf
Attachment:  December 2010 budget amend explanations.pdf
Attachment:  Operating Fund Budget Amendment #4.pdf
Attachment:  Capital Funds Budget Amendments #5-8.pdf
Attachment:  Debt Service Budget Amendment #1.pdf