Sarasota County Schools
Agenda Item #26
Title
APPROVAL OF THE SUPERINTENDENT'S FINANCIAL STATEMENTS FOR THE PERIOD ENDING FEBRUARY 28, 2009
Description
The Superintendent's Financial Statements for the month ending February 28, 2009, does not reflect any unexpected trends for the 2008-09 fiscal year. The General Fund currently shows a fund balance of approximately $141 million. However, budgeted deficit spending in the General Fund in future months will decrease this balance as the fiscal year ends due to State revenue shortfalls and reduced property tax revenues. The Food Service Fund revenues overall continue to be flat. The money the District receives through the Free and Reduced Meals Program has increased approximately 19%, but revenues received from students paying full price or purchasing al a carte meals has decreased over 10%. Expenditures have remained steady from the prior year. The District made an arrangement with the Tax Collector in December for their office to invest some of the District tax revenue money since they are receiving a better interest rate than the District. This is the cause of the large Due from Other Agencies amount in both the General and Capital Projects Funds.
Recommendation
That the Superintendent's Financial Statements for the period ending February 28, 2009, be approved as presented.
Contact
CORCORAN & WEIDNER/PEASLEE
Financial Impact
N/A
Attachment: February 2009.pdf