Business Action Item |
DATE: Thursday, September 4, 2008
TO: School Board Members
FROM: MaryEllen Elia, Superintendent
SUBJECT / RECOMMENDATIONS
EXECUTIVE SUMMARY
The Department of Education’s Financial and Program Cost Reporting for Florida Schools (The Red Book) Policy 7-11.7 requires that the School Board approve fiscal year-end indebtedness.
As of June 30, 2008, the schools reported indebtedness to vendors in the amount of $72,481, detailed on the attached listing. This indebtedness arises primarily due to the timing of vendor invoicing and the cessation of normal bookkeeping activity during the summer months. As part of standard audit procedures, the District Auditing Office will verify that all indebtedness carried over into the new fiscal year be paid in a prompt manner and in accordance with School Board policies. Conversely, all indebtedness reported last year was paid and reviewed for compliance with School Board policies.
ANNUAL DISTRICT GOAL(S) AND CRITICAL SUCCESS FACTOR(S)
FINANCIAL IMPACT (Budgeted: Yes)
EVALUATION
SUBMITTED BY: Pamela S. Prieto
Manuel A. Ippolito
Assistant Department Manager, District Auditing Office (813) 272-4304 |
Gretchen Saunders
Chief Business Officer (813) 272-4270 |
A 5.05 | |
Hillsborough County Public Schools (Florida) * Mtg.#20080904_299 * Section A Item# 5.05 |