Action Item
|
Business Services
Action Item |
| DATE: | Tuesday, February 4, 2020 |
| TO: | School Board Members |
| FROM: | Jeff Eakins, Superintendent |
| SUBJECT / RECOMMENDATIONS | |
| Approve Budget Amendments for the Period Ended December 31, 2019 (Business Services Division) | |
| EXECUTIVE SUMMARY | |
| The 2019/2020 fiscal year budgets were adopted on September 10, 2019. Thereafter, the budgets are amended as necessary and submitted to the Board for approval in the form of budget amendments (attached) following each period ending. Additional attached reports reflect revenues earned and funds expended through the period ended December 31, 2019. The projected ending fund balances are the difference between anticipated revenue and expenditures. | |
| STRATEGIC OBJECTIVES | |
| • Establish a strong foundation of financial stewardship | |
| FINANCIAL IMPACT (Budgeted: Yes) | |
| The amendments are the result of various factors including increases or decreases in estimated revenues and increases or decreases in appropriations to more accurately reflect estimated expenditures. Our financials are audited annually by independent external auditors as prescribed by law. | |
| EVALUATION | |
| Budget Amendments are presented to the School Board on a monthly basis per Florida Statute 1011.06 - Expenditures. Our evaluation results will be completed for the June 30, 2020, Final Budget amendment agenda. The monthly financial position reports 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 complete. The time of completion will vary based upon the activities of the auditors. | |
| SUBMITTED BY:
Kristen Holmes, Budget Specialist 3, Budget Services Susan Garcia, General Manager, Budget, Cash Management, and Federal Finance |
|
| Susan Garcia | Gretchen Saunders | |
| General Manager, Budget, Cash Management, and Federal Finance (813) 272-4064 |
Chief Business Officer (813) 272-4270 |
|
| C 6.05 | ||
| Hillsborough County Public Schools (Florida) * Mtg.#20200204_978 (Board Meeting) * Section C Item# 6.05 | ||