Sarasota County Schools
Agenda Item #33
Title
APPROVAL OF SUPERINTENDENT'S FINANCIAL STATEMENTS FOR THE MONTH ENDING NOVEMBER 30, 2010
Description
The Superintendent's Financial Statements for the month ending November 30, 2010, does not reflect any unexpected trends at this early stage in the 2010-11 fiscal year. The General Fund has reversed the negative unrestricted fund balance from the prior month with the receipt of property tax revenue. Deficit spending will continue in the General Fund as fund balance has been budgeted to decrease this fiscal year due to State revenue shortfalls and reduced property tax revenues. The Food Service Fund shows a decrease in revenue of approximately 36% in Federal revenue year to date. This is due to the decrease in the funding for the Fresh Fruit and Vegetable Program. The Self Insurance revenues have decreased approximately 46% from the prior year. This is due to the change in the percentage charged to other funds for worker's compensation from 1% to 0.1%. This percentage is anticipated to revert back to its prior level next fiscal year.
Recommendation
That the Superintendent's Financial Statements for the month ending November 30, 2010, be approved as presented.
Contact
WHITE & CORCORAN/PEASLEE
Financial Impact
N/A
Attachment: November 2010.pdf