03-10-2015 Regular School Board Meeting
Agenda Item #17


Title
Financial Statements with Budget Amendments and Resolutions for the Operating, Capital and Medical Funds at Period End January 31, 2015

Discussion

The School Board Financial Statements reflect the status of revenue received and actual expenditures as compared to the approved or amended budgets.  The Financial Statements for the Board's consideration are for the period ending January 31, 2015.

In addition, budget amendments for Operating, Capital, and Medical Funds are submitted:

Operating Fund Budget Amendment - Resolution #5

Operating Revenue (pages 1-2) has increased by $228,483 since the last budget amendment.  Major changes plus or minus $100,000 are listed below:

Miscellaneous Local $212,847

In addition, appropriations have increased or decreased based on budget amendments done by individual school and departments.

Capital Projects Fund Budget Amendment - Resolution #7

In November 2014, the public voted in a Local Sales Surtax that became effective January 1, 2015.  This amendment reflects the anticipated revenue for the fund.

Local Sales Surtax         $16,136,362

Appropriations have also increased by $16,136,362.  Currently, this is budgeted as a single project line.  As the project list is developed by Facilities the budget will be amended to reflect the approved projects.

Internal Services Medical Fund Budget Amendment - Resolution #1

Total revenue has changed by $3,800,000 due to the following:

o   An increase in both the School Board and employee contributions.

o   The elimination of participation in the program for retirees over the age of 65.



Recommendation

Approve the January 31, 2015 Financial Statements, and Operating Fund Budget Amendment - Resolution #5, Capital Projects Fund Budget Amendment - Resolution #7, and the Internal Services Medical Fund Budget Amendment - Resolution #1



Meeting Date(s)
Consent w/o Information - 3/10/2015

Authority for Action
F.S. 1010.02, 1001.02, 1001.02(1)

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 - Budgeting, Cost Accounting, and FTE, ext. 610

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




Attachment:  FY 2014-15 Financial Statements - January 31, 2015.pdf
Attachment:  FY 2014-15 Operating Fund Budget Amendment #5 - JANUARY 31 2015.pdf
Attachment:  FY 2014-15 Capital Projects Fund Budget Amendment - Resolution #7.pdf
Attachment:  FY 2014-15 Internal Service Medical Fund Budget Amendmen - Resolution #1.pdf
Attachment:  FY 2014-15 January 2015 Budget Amendment Explanations.pdf