03-22-2011 Special School Board Meeting
Agenda Item #16


Title
Financial Statements with Budget Amendments for the period ending January 31, 2011

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 January 31, 2011.

In addition, a budget amendment is being submitted for the Operating Fund.

Revenues have decreased by a total of $6,020,643, which is the result of the 3rd FEFP calculation.  The primary changes to the revenue sources are as follows:

FEFP                                                       $-6,505,665

   Student Growth              $   260,100

   McKay Scholarships     $-6,765,765

Miscellaneous Local                                     $ 303,018

As a customary practice the district reserves dollars in each annual budget for the McKay Scholarship program.  This reserve is necessary as the State does not incorporate this reduction into the original revenue calculations when the Legislature adopts the budget.

Appropriations have also increased or decreased based on budget adjustments by individual schools and departments.

 



Recommendation
Approve the January 31, 2011 Financial Statements and Resolution #5 for the Operating Budget.

Meeting Date(s)
Consent w/o Information - 3/22/2011

Authority for Action
F.S. 1010-02, 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:  January 2011 Financials.pdf
Attachment:  Budget Amendment #5 - January 31 2011.pdf
Attachment:  Explanations for January 31 2011 Budget Amendment.pdf