The Superintendent's Financial Statement for the period ending January 31, 2006, indicates that the district is on target to meet the amended Budget that was adopted on February 21, 2006.  The cash flow currently is overstating the collection of State Revenue by approximately $4.2 million because the first Full Time Equivalent (FTE) student count in October was down by approximately 800 students.  The February FTE count is the next adjustment period and will determine the precise amount that the school district has to return to the State of Florida.  Sarasota is a property rich school district and the State of Florida advances the school district its Florida Education Finance Program share during the first three months of the fiscal year because property taxes are not collected until the fifth month of the fiscal year.

MONSON & EARLEY