Hillsborough County Public Schools Business
Action Item

DATE: Tuesday, June 15, 2010
TO: School Board Members
FROM: MaryEllen Elia, Superintendent

SUBJECT / RECOMMENDATIONS

Approve Change of Bank Petty Change Fund for Cork, Mango, Riverview, Trapnell, Lake Magdalene Elementary Schools and Tampa Bay Technical High School (Business Division)

EXECUTIVE SUMMARY

Petty change funds are established or altered, with School Board approval, in compliance with State Board of Education rules Chapter 6a-1.057. These are impressed funds transferred from district budget to the schools so that each school can make emergency purchases and have change to operate lunchrooms and athletic events. When funds are expended for purchases, the school submits receipts to Accounts Payable. The school is then reimbursed, and the school's budget is reduced by the amount of the purchase. Following is the list of schools requesting School Board approval to close existing accounts, including the bank name where account is to be closed, as well as the bank name of account to be opened.

Signers for each school are listed on the individual attachments to this agenda item.

ANNUAL DISTRICT GOAL(S) AND CRITICAL SUCCESS FACTOR(S)

* Demonstrate best financial practices

FINANCIAL IMPACT (Budgeted: Yes)

Cost incurred for printing new checks and deposit slips will be offset by interest earned on daily balances.

EVALUATION

SUBMITTED BY: Bobbie J Hargrove, Accountant II



Gretchen Saunders
Chief Business Officer
(813) 272-4270
A 5.04
Hillsborough County Public Schools (Florida) * Mtg.#20100615_402 * Section A Item# 5.04