05-22-2012 Special School Board Meeting
Agenda Item #10


Title
Financial Statements with the Operating Budget Amendment for the Period Ending March 31, 2012

Discussion

The School Board received 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 March 31, 2012.

In, addition, the budget amendments are submitted for both the Operating fund and the Special Revenue Funds-Other.

Operating Revenue (pages 1-2) has increased by $871,295 since the last budget amendment.  Major changes plus or minus $100,000 are listed below:

School Recognition            $652,350

Miscellaneous Local            202,100

Appropriations, however have increased or decreased based on budget amendments done by individual school and departments.

 

Revenue for the Special Revenues have increased $1,268,327.  This is due primarily to three new projects being awarded: the ACCESS Grant for $650,000, the ESSC Grant for $355,380, and the 21st Century Zoo South Explorer for $700,000.  Reductions in grants are due to not yet receiving DOE confirmation on the Title I roll forward award letter of $482,000, leaving a reduction of $44,947 in mescellaneous award adjustments.

Revenue of $1,568,053 was reclassified upon clarification with DOE documents, reflecting the large change from Adult Education to Other Miscellaneous revenue strings.

Appropriations, however have increased or decreased based on budget amendments done by individual schools and departments.

 



Recommendation
Approve the March 31,2012 Financial Statements and Resolution #7 for the Operating Fund and the Special Revenue Funds Resolutions #1.

Meeting Date(s)
Consent w/o Information - 5/22/2012

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

Involves Expenditure of Funds Directly in the Classroom
Partial

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:  March 2012 Financials.pdf
Attachment:  Budget Amendment #7 - March 31 2012.pdf
Attachment:  Special Revenue Funds Budget Amendment, Resolutions #1.pdf
Attachment:  March 2012 budget amendment explanations.pdf