12-16-2014 Regular School Board Meeting
Agenda Item #15


Title
Financial Statements with Budget Amendments and Resolutions for the Operating Fund and the Special Revenue Fund - Food Service for the period ending October 31, 2014

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 submitted for the Board's consideration are for the period ending October 31, 2014.

As of October 31, 2014, the fund balance in the Operating Fund is $24.5m. Typical to this time of the year, resources are down due to the timing of receiving ad valorem taxes. These tax revenues are received in smaller amounts in November with the majority being received in December. It was anticipated that the District might have needed to borrow funds to carry the District through to December; however, through the diligence in the District's spending it has been unnecessary to do so.

Operating Budget Amendment - Resolution #2

Operating Revenue (pages 1-2) has increased by $258,819 since the last budget amendment. Major changes, plus or minus $100,000, are listed below:

Miscellaneous Local $258,819

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

Special Revenue Fund - Food Service Amendment - Resolution #1

Revenues have not increased or decreased since the Adopted Budget. However, the beginning balance is being corrected to the actual.

Appropriations have changed overall to reflect carry-forward from last year and to include vacant positions.



Recommendation
Approve the October 31, 2014 Financial Statements, Resolution #2 for the Operating Fund, and Resolution #1 for the Special Revenue Fund - Food Service.

Meeting Date(s)
Consent w/o Information - 12/16/2014

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 of Budgeting, Cost Accounting & FTE, ext. 610

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




Attachment:  2014-15 Operating Fund Budget Amendment - Resolution #2 12-16-14.pdf
Attachment:  2014-15 Special Revenue Fund - Food Service Budget Amendment - Resolution #1 12-16-14.pdf
Attachment:  October 2014 Financials.pdf
Attachment:  October 2014 Budget Amendment Explanations.pdf