Hillsborough County Public Schools Business
Action Item

DATE: Tuesday, January 30, 2007
TO: School Board Members
FROM: MaryEllen Elia, Superintendent

SUBJECT / RECOMMENDATIONS

Approve Resolution to Receive Distributions from the Educational Enhancement Trust Fund (EETF) (Business Division)

EXECUTIVE SUMMARY

The 2006 Legislature passed Senate Bill 1590 amending section 212.12, F.S., to provide an additional source of funds for education, specifically authorizing stated sales and use tax dealers to forgo the sales tax collection allowance to which they are entitled as compensation for collecting the tax for the state and, instead, direct that the fee amount be deposited into the Education Enhancement Trust Fund.

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

Other: to achieve the "Seal of Best Financial Management"

FINANCIAL IMPACT (Budgeted: No)

These new dollars were not budgeted for in FY 2006-07. A line item will be put into place for the FY 2007-08 budget.

EVALUATION

SUBMITTED BY: Steve Brady, Assistant Department Manager for Cash Management

Susan Garcia
Manager of Services and Support
(813) 272-4347
Gretchen Saunders
Chief Business Officer
(813) 272-4270
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Hillsborough County Public Schools (Florida) * Mtg.#20070130_273 * Section A Item# 1