Sarasota County Schools
Agenda Item #36
Title
APPROVAL OF SUPERINTENDENT'S FINANCIAL STATEMENTS FOR THE MONTHS ENDING JULY 31, 2007 AND AUGUST 31, 2007
Description
The Superintendent's Financial Statements for the months ending July 31, 2007 and August 31, 2007, do not reflect any unexpected trends at the early period in the 2007-08 fiscal year. The negative trend in the General Fund will continue until approximately November when property taxes are received, as is seen every year. However, the deficit will increase because of the budgeted decrease in fund balance in the General fund due to State cuts. The Food Service Fund showed a negative unreserved fund balance in July and monies will have to have monies transferred from other sources on a temporary basis. The Food Service Fund is reliant upon reimbursement from the Federal Government and payment of student meals. With school starting later this year, the Food Service Fund was slower in receiving payment from these two sources. The fund balance trend reversed itself during August.
Recommendation
That the Board approves the Superintendent's Financial Statements for the months ending July 31, 2007 and August 31, 2007.
Contact
WEIDNER
Financial Impact
N/A
Attachment: July.pdf
Attachment: August.pdf