Sarasota County Schools
Agenda Item #33
Title
APPROVAL OF SUPERINTENDENT'S FINANCIAL STATEMENTS FOR THE PERIOD ENDING SEPTEMBER 30, 2008
Description
The Superintendent's Financial Statements for the month ending September 30, 2008, does not reflect any unexpected trends at this early stage in the 2008-09 fiscal year. The negative trend in the General Fund is to be expected as the District does not receive their main funding source, property taxes revenues, until late November. However, the deficit spending in the General Fund will continue 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 has a negative unreserved fund balance at September 30, 2008. This is due to the Food Service Fund reliance upon reimbursement from the Federal Government and payment of student meals. With school starting later in August and a smaller summer feeding program this year, the Food Service Fund reflects a lag in receiving payment for meals. The Capital Projects Fund is reflecting a negative trend as the timing of debt borrowing has been delayed as the District awaits approval by the Florida Department of Education of survey recommendations on several capital improvement projects.
Recommendation
That the Superintendent's Financial Statements for the period ending September 30, 2008, be approved as presented.
Contact
WHITE & CORCORAN/WEIDNER
Financial Impact
N/A
Attachment: September.pdf