Approve Budget Amendments for the Period Ended June 30, 2007 (Business Division)

The 2006-2007 fiscal year budgets were adopted on September 7, 2006. Thereafter, the budgets were amended as necessary and submitted to the Board for approval in the form of budget amendments (attached) following each period ending. This is the final budget amendment for Fiscal Year 2006/2007.

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.

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

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.