e|agenda.NET Sarasota County Schools

THE SCHOOL BOARD OF SARASOTA COUNTY, FLORIDA Landings Administrative Complex 1980 Landings Blvd. 6:30 p.m.

June 7, 2016 Board Meeting Agenda Item #55 Title APPROVAL OF THE SUPERINTENDENTS FINANCIAL STATEMENTS FOR THE MONTH ENDING APRIL 30, 2016 Description The Superintendent's Financial Statements for the month ending April 30, 2016 does not reflect any unexpected trends for the fourth quarter of the 2015-2016 fiscal year. Beginning December 2015, premiums for health insurance began to be deposited into the Internal Service Fund for the transition to self-insured. In addition, the issuance of the Series 2016A Refunding Certificates of Participation was completed on April 28, 2016 requiring debt service interest payments on the refunded portion of the Series 2009 and Series 2010B Certificates of Participation resulting in the Debt Service Fund negative cash position at month end. Although General Fund expenditures were budgeted to exceed revenues, actual results have trended favorably and it is anticipated that the ending fund balance will increase at June 30, 2016. Recommendation That the board approve the Superintendent's Financial Statements for the month ending April 30, 2016 as presented. Contact WHITE & CORCORAN Financial Impact N/A Attachment:  April 15-16 supers.pdf Attachment:  April 15-16 Budget Supers.pdf