Sarasota County Schools
Agenda Item #33
Title
APPROVAL OF THE SUPERINTENDENT'S FINANCIAL STATEMENTS FOR THE MONTH OF MARCH 2012
Description
The Superintendent's Financial Statements for the month ending March 31, 2012 does not reflect any unexpected trends for the 2011-2012 fiscal year. Deficit spending will continue in the General Fund as fund balance has been budgeted to decrease this fiscal year due to State revenue shortfalls and reduced property tax revenues. The large variance between 2012 and 2011 on the District's balance sheet at March 31, 2012 for accounts payable is a result of the implementation of the Crosspointe software in August 2011. The District is now more appropriately reflecting our accounts payable liabilities and actual expenses in the period they are incurred rather than the period paid.
Recommendation
That the Superintendent's Financial Statements for the period of March 1st through March 31st, 2012 be approved as presented.
Contact
WHITE & CORCORAN
Financial Impact
N/A
Attachment: Supers March 2012.pdf
Attachment: March 12.pdf