e|agenda.NET Sarasota County Schools |
THE SCHOOL BOARD OF SARASOTA COUNTY, FLORIDA Landings Administrative Complex 1980 Landings Blvd. 6:30 P. M. |
Agenda Item #31 Title APPROVAL OF THE SUPERINTENDENT'S FINANCIAL STATEMENTS FOR THE PERIOD ENDING DECEMBER 31, 2008 Description The Superintendent's Financial Statements for the month ending December 31, 2008, does not reflect any unexpected trends at the mid point of the 2008-09 fiscal year. The negative trend from the past few months in the General fund has reversed itself with the collection of property taxes. However, deficit spending in the General Fund will continue in future months 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 decrease in revenue of 1% year-to-date. This is to be expected as student enrollment has decreased. The money the District receives through the Free and Reduced Meals Program has increased approximately 17%, but revenues received from students paying full price or purchasing al a carte meals has decreased over 13%. Expenditures have remained steady from the prior year. The District made an arrangement with the Tax Collector in December for the County to invest some of the district tax revenue money since the County was 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 December 31, 2008, be approved as presented. Contact CORCORAN & WEIDNER/PEASLEE
Financial Impact N/A Attachment: December 2008.pdf |