11-17-2009 Organization of the Board-Regular Meeting
Agenda Item #19


Title
Financial Statements and Operating Fund Budget Amendment for the Period Ending September 30, 2009

Discussion

For this year, we have combined the Financial Statements (all funds) with the Operating Fund Budget Amendment.  Previously there have been two separate agenda items for Board consideration, one addressing the Financial Statements and one addressing the Operating Fund Budget Amendment.  This change is an effort to streamline the process and provide a more accurate and timely reflection of the status of expenditures vs. budget.

Financial Statements: The School Board receives Financial Statements which reflect the status of revenue received and commitments (encumbrances and expenditures) as compared to the approved budget. The Financial Statements submitted for the Board's consideration are for the period ending September 30, 2009.

Operating Fund Budget Amendment: While projected revenues for the Operating Fund have not changed since the adoption of the budget on September 3, 2009, it was necessary to adjust the beginning fund balance due to an audit adjustment in the amount of $803,957.  This adjustment was made due to the timing of terminal pay for separated employees.

Appropriations have changed overall to reflect carry forward from last year and budget adjustments made by schools and departments.



Recommendation

Approve both the Financial Statements and Resolution #1 to amend the Operating Fund Budget, for the period ending September 30, 2009.



Meeting Date(s)
Consent w/o Information - 11/17/2009

Authority for Action
F.S. 1010.01, 1001.02, 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 & Reporting, ext. 610

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




Attachment:  Sept 2009 Financial Stmts.pdf
Attachment:  Operating Fund Budget Amendment #1.pdf