e|agenda.NET Sarasota County Schools

THE SCHOOL BOARD OF SARASOTA COUNTY, FLORIDA Landings Administrative Complex 1980 Landings Blvd. 3:00 p.m.

October 18, 2016 Board Meeting Agenda Item #28 Title APPROVAL OF SUPERINTENDENT'S FINANCIAL STATEMENTS FOR MONTHS ENDING JULY 31, 2016 AND AUGUST 31, 2016 Description The Superintendent's Financial Statements for the months ending July 31, 2016 and August 31, 2016 do not reflect any unexpected trends for the first quarter of the 2016-2017 fiscal year. With the District becoming self-insured for health coverage as of January 1, 2016, the Internal Service funds reflect greater revenues and expenditures as well as restricted fund balance amounts when compared to the financial statements for the same time last year. In addition, budgeted usage of fund balance in the internal service funds are higher to cover claims that have been incurred, but not paid. The negative trend in the General Fund will continue until approximately November when property taxes are received. Recommendation That the Superintendent's Financial Statements for the months of July and August 2016 be approved by the Board as presented. Contact WHITE & CORCORAN Financial Impact N/A Attachment:  Aug 16-17 supers.pdf Attachment:  July 16-17 supers.pdf