Business Services Action Item

DATE:	Tuesday, December 4, 2018
TO:	School Board Members
FROM:	Jeff Eakins, Superintendent
SUBJECT / RECOMMENDATIONS
Approve the Application to the U.S. Department of Education, and if Approved, Accept Funds for the Impact Aid Program (Public Law 874) (Business Services Division)
EXECUTIVE SUMMARY
The Hillsborough County School District annually applies to the Federal Government for impact funds under Public Law 874.  This law provides funds to supplement the loss of property tax revenue.  The amount paid to the Hillsborough County School District is determined by identifying students whose parents are in the armed services, work on federal property, or live in federal low-rent housing.
STRATEGIC OBJECTIVES
• Establish a strong foundation of financial stewardship
FINANCIAL IMPACT (Budgeted:  Yes)
This item is included in the district General Fund Budget.  This project will provide the district approximately $420,000 in federal funds. For tracking purposes, the project number specific to this agenda item is 3121.
EVALUATION
Staff annually reviews changes in Federal Legislation and U.S. Department of Education Rules on application guidelines for Public Law 874 funds to ensure accuracy and best practices.
SUBMITTED BY:  Verna Hurley-Long, Sr. Fiscal Analyst, Business Services

		Gretchen Saunders
		Chief Business Officer (813) 272-4270
		C 6.02
Hillsborough County Public Schools (Florida) * Mtg.#20181204_911 (Board Meeting followed by Public Hearing) * Section C Item# 6.02