Board Agenda - June 05, 2007

f. Recommended 2006-07 Final Budget Amendments for June 5, 2007 Actual Expenditures thru May 29, 2007

Presenter: Richard Matkin

Purpose: A - Request decision - closure required

Time: No time limit

Description:

Attachments:
Recommended 2006-07 Final Budget Amendments for June 5, 2007
General Fund Adopted Budget with June 5, 2007 Final Amendments
General Fund Actual Expenditures thru May 29, 2007

Recommendation:

Staff recommends approval of these Budget Amendments.

Business Impact:

General Fund Balance Positive impact of $ 11,688,496

The Final Amended Budget includes the maximum anticipated expenditures for any one function. Key items listed provide explanations for the significant variances. Final budget allocations are projected so that no function is over budget which would result in a deficiency on the District's School FIRST financial accountability rating report.

Key Budget Items with No Impact on Fund Balance:
$3,920,307 - High School Allotment reduces state revenue and function 11 expenditures moving the revenue and expenditures to Fund 428 per TEA reporting requirements.
$1,346,345 - Technology Allotment reduces state revenue and function 18 expenditures moving the revenue and expenditures to Fund 411 per TEA reporting requirements.

Key Budget Items with a Positive Impact on Fund Balance:
$3,600,120 - Increase in tax revenue due to the increase in appraised values.
$4,493,350 - Increase in interest earnings due to increase in interest rates.
$199,670 - Increase in federal revenue, SHARS program.
$3,006,000 - Decrease in function 81 relating to purchase of land which will be purchased instead under reimbursement resolution previously approved by the Board in December 2006.
$3,930,905 - Decrease in Function 51 Plant Maintenance and Operation includes the following: (a) $1,343,500 reimbursement from FANS for custodial and utility costs which was not previously budgeted; (b) $286,000 decrease in salary budget; (c) $1,700,000 decrease in contracted services related to custodial, landscape, utilities, and telecom expenditures.

Key Budget Items with a Negative Impact on Fund Balance:
$572,352 - Decrease in miscellaneous revenue relating to curriculum sales and software development. $3,300,000 - Increase in function 91 for recapture costs due to a lower WADA.
$2,000,000 - The budgeted transfer from Worker's Compensation is not necessary.
$380,946 - Net revenue from PASAR is lower than projected.
$441,290 - Net increase in other operating transfers due to $843,500 transfer to Dr. Pepper.
$654,798 - Net increase in function 34 Transportation due to the salary adjustment approved after budget was adopted.

Other Funds:
Key Budget Items:
Fund 164 - Dr. Pepper Fund: Recognize receipt of Dr Pepper Funding in the amount of $843,500 and Transfer Out of funding into Fund 240 - Food and Nutritional Services Fund. Internal transfer to Function 13 - Staff Development - $135,000 from Function 41 - General Administrative.

Fund 240 - Food and Nutritional Services Fund: ( net Negative Impact of $ 218,250 to Fund Balance ) Recognize increased net revenue of $1,283,194 - Dr Pepper funding of $ 843,500 and Federal Revenue of $ 541,808 and net decrease of Local revenue of ($ 102,113.92). Recognize increased expenditures of $ 657,844 for Food Services and $ 843,600 for Plant Maintenance & Operations.

Fund 397 - Advanced Placement / International Baccalaureate Fund: Internal Function transfer of $ 7,300 from Curriculum Development-Function 13 to Instruction Service-Function 11.

Fund 411 - Technology Allotment Fund: Recognize receipt of $ 1,346,345 from State Funding and allocated expenditure.

Fund 428 - High School Allotment Fund: Recognize receipt of $ 3,920,307 from State Funding and allocated expenditure.

Summary:

Appendix:

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