Business Information Item

DATE:	Tuesday, September 11, 2012
TO:	School Board Members
FROM:	MaryEllen Elia, Superintendent
SUBJECT / RECOMMENDATIONS
Monthly Financial Position Reports as of June 30, 2012 (Business Division)
EXECUTIVE SUMMARY
The fiscal year 2011-2012 budgets were adopted on September 6, 2011.  The attached reports show revenues earned and funds expended from July 1, 2011, through June 30, 2012, and the ending fund balances.
STRATEGIC OBJECTIVES
• Align financial resources to support the district’s strategic goals • Demonstrate best financial practices
FINANCIAL IMPACT (Budgeted:  Yes)
The General Operating, Special Revenue, Capital, Debt Service, and Internal Services Fund budgets were approved on September 6, 2011.  The approved budget was updated and balanced throughout the year.  The general fund balance includes inventory reserves, encumbrances, grants (local, state, and federal) state categoricals and other special programs.
EVALUATION
The monthly financial positions are consolidated and reflected in the year-end financial statements, which are audited annually by independent external auditors as prescribed by law.  The Board will receive the audit reports when they are completed.  The time of completion will vary based upon the activities of the auditors.
SUBMITTED BY:  Susan Hinson, Senior Fiscal Analyst, Budget Department

Susan Garcia		Gretchen Saunders
Manager of Services and Support, Budget (813) 272-4064		Chief Business Officer (813) 272-4270
		A 9.04
Hillsborough County Public Schools (Florida) * Mtg.#20120911_512 (Board Meeting) * Section A Item# 9.04