The Superintendent's Financial Statement for the period ending February 28, 2006, reflects a higher amount under "State Sources" than was earned through the Florida Education Finance Program (FEFP).  The General Fund Budget Amendment Number One that was approved on February 21, 2006, indicated that the State Revenues would decrease by $4,211,543, for this fiscal year, which was based upon the FTE's earned in the October count.  The February FTE count also came in lower, so at this point in time, it appears that the State Revenues would be overstated by approximately $6 million.  The Department of Education sends the School Board of Sarasota County its total state FEFP share in the first three months of the fiscal year (because we are a property rich school district, our property taxes do not begin to come in until the month of November) and the adjustments are required to be paid back in the month of June.  

EARLEY & MONSON