Sarasota County Schools
Agenda Item #39
Title
APPROVAL OF SUPERINTENDENT'S FINANCIAL STATEMENT FOR MONTH ENDING SEPTEMBER 30, 2007
Description
The Superintendent's Financial Statement for the month ending September 30, 2007, does not reflect any unexpected trends at the early period in the 2007-08 fiscal year. The negative trend in the General Fund will continue until approximately November when property taxes are received, as is seen every year. However, the deficit will increase because of the budgeted decrease in fund balance in the General Fund due to State cuts. The Food Service Fund shows a negative unreserved fund balance in September and monies will have to be transferred from other sources on a temporary basis. The Food Service Fund is reliant upon reimbursement from the Federal Government and payment of student meals. With school starting later this year, the Food Service Fund was slower in receiving payment from these two sources.
Recommendation
That the Superintendent's Financial Statement for the month ending September 30, 2007, be approved as presented.
Contact
CORCORAN & WEIDNER
Financial Impact
N/A
Attachment: September.pdf