Approve School Activity Fund Indebtedness for Fiscal Year End June 30, 2011, to be Carried Over into the 2011/2012 School Year (District Auditing Office)  

The Florida Department of Education’s Financial / Program Cost Reporting manual for Florida Schools (Redbook 2001) Chapter 7, Section II.7 requires that fiscal year end indebtedness be approved by the School Board.       

As of June 30, 2011, the schools reported indebtedness to vendors in the amount of $20,824, detailed on the attached listing.  This indebtedness is due to the timing of vendor invoicing and the cessation of normal bookkeeping activity during the summer months.  As part of standard audit procedures, the District Auditing Office will verify that all indebtedness carried over into the new fiscal year is paid in a prompt manner. 

This report was prepared as part of the district's Board-approved Annual Audit plan and is budgeted as part of the District Auditing Office General Fund budget.