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Sarasota County Schools
THE SCHOOL BOARD OF SARASOTA COUNTY, FLORIDA Landings Administrative Complex 1980 Landings Blvd. 6:30 P. M.
December 8, 2009 Board Meeting
Agenda Item #30


Title
APPROVAL OF THE SUPERINTENDENT'S FINANCIAL STATEMENTS FOR JULY, AUGUST, SEPTEMBER, AND OCTOBER 2009

Description
The Superintendent's Financial Statements, prepared on a cash basis, for the months of July, August, September, and October 2009, do not reflect any unexpected trends at this stage in the 2009-10 fiscal year.  The negative trend in the General Fund is to be expected as the District does not receive their main funding source, property tax 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 has a negative unreserved fund balance due to the Food Service Fund reliance upon reimbursement from the Federal Government and payment of student meals.  With school starting later in August and a smaller summer feeding program this year, the Food Service Fund reflects a lag in receiving payment for meals.  The increase in revenues and expenditures in the Special Revenue Fund is due to the influx of Stimulus and ARRA funding.

Recommendation
That the Superintendent's Financial Statements for July, August, September, and October 2009, be approved as presented.

Contact
WHITE & CORCORAN/HANNABASS

Financial Impact
N/A


Attachment:  July.pdf
Attachment:  August.pdf
Attachment:  September.pdf
Attachment:  October.pdf