C6.09 - Approve Budget Amendments for the Period July 1, 2020 Ending September 30, 2020 (Finance Division)

The 2020-2021 fiscal year budgets were adopted on Tuesday, September 8, 2020. 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 information reflects revenues earned and funds expended through the month ending September 30, 2020. The ending fund balances are the difference between anticipated revenue expenditures. 

The budget amendments/financial statements are a picture into the fiscal health of our school system. These documents provide information at a point in time and compare the original approved budget vs the current actual activity. These records provide the information and data needed for monitoring our efficiency and performance as a district. 

The budget amendments/financials as of September 30, 2020, for all funds display the collection of revenues and the expenditures paid. The amendments, or movement of dollars, are the result of various factors including increases or decreases to estimated revenues and expenditures. Our financial records are audited annually by independent external auditors as prescribed by law. 

School districts are working with the guidelines provided by Governor DeSantis and the Florida Department of Education team. Additionally, we look for financial and economic updates from the state regarding unemployment rates and sale tax collections.

* Establish a strong foundation of financial stewardship

That the Board approve FY 2020-2021 amendments and financials for month ending September 30, 2020. 

Susan Garcia, General Manager, Budget, Cash Management and Federal Finance, susan.garcia@hcps.net, (813) 272-4064
Stephanie Heaton, Manager, District Accounting, stephanie.heaton@hcps.net, (813) 272-4292

Budget amendments, financial statements and trend data continue to be our accountability metric. Fiscal reporting to the community and Board members provides a window to the health of our school district. We will continue to provide updates to you as quickly as the items are released from the Governor's office and the Florida Department of Education. We anticipate additional impacts to current and future federal, state and local revenues.