Sarasota County Schools
Agenda Item #38
Title
APPROVAL OF THE SUPERINTENDENT'S FINANCIAL STATEMENTS FOR THE MONTH ENDING SEPTEMBER 30, 2010
Description
The Superintendent's Financial Statements for the month ending September 30, 2010, does not reflect any unexpected trends at this early stage in the 2010-2011 fiscal year. The negative trend in the General Fund is to be expected as the District does not receive their main funding source, property taxes revenues, until late November. However, the deficit spending in the General Fund will continue as fund balance has been budgeted to decrease this fiscal year due to State revenue shortfalls and reduced property tax revenues. The Food Service Fund shows a large increase in expenditures. This is caused by adjustments made to account for changes in inventory balances. Revenue received from the National School Lunch Program continues to increase in the Food Service Fund as the economy continues to be volatile. The Capital Projects Fund reflects the proceeds received from the Certificates of Participation, Series 2010A (Qualified School Construction Bonds) and Certificates of Participation, Series 2010B.
Recommendation
That the Superintendent's Financial Statements for the month ending September 30, 2010, be approved as presented.
Contact
WHITE & CORCORAN/PEASLEE
Financial Impact
N/A
Attachment: September 2010.pdf
Attachment: September 2010 Attachment.pdf