B6.06 - Approve Budget Amendments for the Period Ended February 29, 2020 (Business Services Division)

The 2019/2020 fiscal year budgets were adopted on September 10, 2019. Thereafter, the budgets, within funds are amended as necessary and submitted to the Board for approval in the form of budget amendments (attached) following each month end. Additional attached reports reflect revenues earned and funds expended through the month ended February 29, 2020. The projected ending fund balances are the difference between anticipated revenue and expenditures.

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* Establish a strong foundation of financial stewardship

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Kristen Holmes, Budget Specialist 3, Budget Services
Susan Garcia, General Manager, Budget, Cash Management, and Federal Finance

The amendments are the result of various factors including increases or decreases in estimated revenues and changes in appropriations to more accurately reflect estimated expenditures. Our financials are audited annually by independent external auditors as prescribed by law, and every third year by the State of Florida Office of the Auditor General.

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 be presented the audit reports once they are complete. The time of completion will vary based upon the activities of the auditors.