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 #57 Title APPROVAL OF THE SUPERINTENDENT'S FINANCIAL STATEMENTS FOR THE MONTH ENDING APRIL 30, 2009 Description The Superintendent's Financial Statements for the month ending April 30, 2009, does not reflect any unexpected trends for the 2008-09 fiscal year. The General Fund currently shows a fund balance of approximately $104 million. However, budgeted deficit spending in the General Fund in future months will decrease this balance as the fiscal year ends due to State revenue shortfalls and reduced property tax revenues. The Food Service Fund revenues have increased by approximately 3%. The money the District receives through the Free and Reduced Meals Program has increased approximately 18.5%, but revenues received from students paying full price or purchasing al a carte meals has decreased almost 8%. Expenditures have remained steady from the prior year. The District made an arrangement with the Tax Collector in December for their office to invest some of the District tax revenue money since they are 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. The District received approximately $75 million from the issuance of the 2009 Certificates of Participation. This money is held for the District by a fiscal agent. Recommendation That the Superintendent's Financial Statements for the month ending April 30, 2009, be approved. Contact CORCORAN & WEIDNER Financial Impact N/A Attachment: April.pdf |