Sarasota County Schools
Agenda Item #35
Title
APPROVAL OF THE SUPERINTENDENT'S FINANCIAL STATEMENTS FOR THE PERIOD JULY THROUGH SEPTEMBER 2011
Description
The Superintendent's Financial Statements for the months ending July 31, 2011, August 31, 2011, and September 30, 2011 do not reflect any unexpected trends for the first quarter of the 2011-2012 fiscal year. The negative trend in the General Fund will continue until approximately November when property taxes are received. However, the deficit will increase because of the budgeted decrease in fund balance in the General fund due to continuing State cuts and decreases in local revenue. The larger variance between 2012 and 2011 on the District's balance sheet at September 30, 2011 for accounts payable is as a result of the implementation of the Crosspointe software in August 2011. The District is now more appropriately reflecting our accounts payable liabilities and actual expenses in the period they are incurred rather than the period paid.
Recommendation
That the Superintendent's Financial Statements for the period July through September, 2011, be approved as presented.
Contact
WHITE & CORCORAN
Financial Impact
N/A
Attachment: July 2011.pdf
Attachment: August 2011.pdf
Attachment: September 2011.pdf
Attachment: Supers Financial Report September 30 2011.pdf