Sarasota County Schools
Agenda Item #57
Title
APPROVAL OF SUPERINTENDENT'S FINANCIAL STATEMENT FOR THE PERIOD ENDING JULY 31, 2008
Description
The Superintendent's Financial Statement for the month ending July 31, 2008, does not reflect any unexpected trends in the 2008-09 fiscal year. The Food Service Fund shows a negative unreserved fund balance in July. The Food Service Fund is reliant upon reimbursement from the Federal Government and payment of student meals. With school starting late in August, the Food Service Fund only receives payment from its summer feeding program. We anticipate the fund balance trend reversing itself during August. The capital funds show negative expenditures. This is due to reversing retainage payable accruals made at year end. This will reverse once payments are made on the current projects.
Recommendation
That the Superintendent's Financial Statement for the period ending July 31, 2008, be approved as presented.
Contact
WHITE & CORCORAN
Financial Impact
N/A
Attachment: July.pdf