The Superintendent's Financial Statements for the months ending July 31, 2012 and August 31, 2012 do not reflect any unexpected trends for the first quarter of the 2012-2013 fiscal year.  The negative trend in the General Fund will contiue until approximately November when property taxes are received.  However, the deficit will increase because of the budgeted decrease in fund blance in the genreal fund due to continuing State cuts and decreases in local revenue.  With the implementation of Crosspointe software in August 2011 we are now more accurately reflecting our liabilities for payables.

That the Superintendent's Financial Reports for the months of July and August 2012 be approved as presented.

N/A