Business Information Item

DATE:	Tuesday, September 9, 2014
TO:	School Board Members
FROM:	MaryEllen Elia, Superintendent
SUBJECT / RECOMMENDATIONS
Monthly Financial Position Reports as of June 30, 2014 (Business Division)
EXECUTIVE SUMMARY
The 2014-2014 fiscal year budgets were adopted on September 10, 2013. The attached reports show revenues earned and funds expended from July 1, 2013, through June 30, 2014, and the ending fund balances.
STRATEGIC OBJECTIVES
• Align financial resources to support the district’s strategic goals • Demonstrate best financial practices
FINANCIAL IMPACT (Budgeted:  Yes)
The General Operating fund balance of $229,632,310 includes a reserve for inventory, encumbrances, grants, state categoricals, and special programs.
EVALUATION
The monthly financial positions 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 on the activities of the auditors.
SUBMITTED BY:  Kris Holmes, Senior Fiscal Analyst

Susan Garcia		Gretchen Saunders
Manager of Services and Support, Budget (813) 272-4064		Chief Business Officer (813) 272-4270
		A 10.02
Hillsborough County Public Schools (Florida) * Mtg.#20140909_640 (Board Meeting followed by Public Hearing) * Section A Item# 10.02