Agenda Item #10
Budget Amendment #2 for the 2010-11 Debt Services Funds
Changes in estimated revenue and appropriations are detailed in the attached amendment.
The increase in revenue is primarily attributable to the closeout of the 2007B COP project funds (in the capital budget) and the transfer of those remaining project funds to the Debt Service budget. The funds will be used to pay a portion of the annual principal and interest payments for Certificates of Participation due for fiscal year 2011-12.
Other changes in estimated revenues and expenditures were primarily due to the issuances of 2010-A State Board of Education Capital Outlay Refunding Bonds issued by DOE on behalf of school districts. The 2010-A issue refunded outstanding bonds of $255,000 with a new issuance of $210,000 resulting in a lower overall interest rate.
Approve Resolution #2 to amend the 2010-11 Debt Service Budget.
Consent w/o Information - 9/8/2011
Authority for Action
F.S. 1001.02(1), 1011.06
Involves Expenditure of Funds Directly in the Classroom
Source of Funding
Agenda Item will not Require the Expenditure of Funds
Kathy Jackson, Accounting Manager, ext. 674
Jo Ann Clark, Director of Accounting Services, ext. 660
Judy Preston, Associate Superintendent of Financial Services, ext. 600
Attachment: FY11 Debt Service Budget Amendment #2.pdf