Sarasota County Schools
Agenda Item #28
Title
APPROVAL OF THE SUPERINTENDENT'S FINANCIAL STATEMENTS FOR THE MONTH ENDING JANUARY 31, 2009
Description
The Superintendent's Financial Statements for the month ending January 31, 2009, does not reflect any unexpected trends at the mid point of the 2008-09 fiscal year. The negative trend in the General Fund has reversed itself. 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 0.74% 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 18%, but revenues received from students paying full price or purchasing al a carte meals has decreased almost 10%. 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.
Recommendation
That the Superintendent's Financial Statements for the month ending January 31, 2009, be approved as presented.
Contact
CORCORAN & WEIDNER/PEASLEE
Financial Impact
N/A
Attachment: January.pdf