The Superintendent's Financial Statements for the month ending May 21, 2011, do not reflect any unexpected trends through eleven months of the 2010-11 fiscal year.  The supplemental schedules reflect the projected results of operations for the 2010-11 fiscal year in the General Fund to come in better than is currently budgeted with an ending unreserved fund balance greater than required by Board policy.  In the Capital Fund, proceeds from capital lease reflect the third Hewlett Packard lease agreement.  In the Special Revenue Fund, revenue from Federal Through State sources has decreased over 10%.  This is due to a reduced amount of American Recovery and Reinvestment Act (ARRA) funding being received this year.  The local grants have increased over 45% due to the receipt of four Patterson Foundation grants.  Revenues in the Internal Service Fund have decreased over 46% due to the change in the percentage charged to the other funds to workers compensation from 1% to 0.1%.  This percentage is due to increase to the prior level in next fiscal year.

 That the May 2011 Superintendent Report be approved as presented.

N/A