Hillsborough County Public Schools Business
Action Item

DATE: Tuesday, May 2, 2006
TO: School Board Members
FROM: MaryEllen Elia, Superintendent

SUBJECT / RECOMMENDATIONS

Approve Budget Amendments for the Period Ended March 31, 2006 (Business Division)

EXECUTIVE SUMMARY

The 2005-2006 fiscal year budget was adopted on September 6, 2005. 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.

ANNUAL DISTRICT GOAL(S) AND CRITICAL SUCCESS FACTOR(S)

Other: Board approval of the budget amendments is required by Florida Statute 1011.05, Federal Statute 6A-1.006 and School Board Policy 7.02.

FINANCIAL IMPACT (Budgeted: Yes)

The revenue budgets are increased/decreased to reflect the most current estimates or actual revenue received. The expenditure budgets are adjusted accordingly to reflect a balanced budget.

EVALUATION

The budget amendments 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

Carol MacLeod
General Manager of Budget & Federal Finance
(813) 272-4064
Gretchen Saunders
Chief Business Officer
(813) 272-4270
5.31
Hillsborough County Public Schools (Florida) * Mtg.#20060502_175 * Section E Item# 5.31