Board Agenda - February 05, 2008

d. Recommended 2007-08 Budget Amendments for 2/5/2008; Actual Expenditures thru 1/28/08

Presenter: Richard Matkin

Purpose: A - Request decision - closure required

Time: No time limit

Description:

Attachments:
Recommended 2007-08 Budget Amendments for Feb 5, 2008
General Fund Adopted Budget with February 5, 2008 Amendments
General Fund Actual Expenditures thru January 28, 2008

Recommendation:

Staff recommends approval of these Budget Amendments.

Business Impact:

General Fund Balance Negative impact of $ 940,703.00

Operating Fund - Fund 199:
Budget Impact Items:
$ (19,001,082.00) - Tax, state and federal revenues adjusted based on revised projections
$ (290,000.00) - Tuition for the Master's Degree Program
$ 18,350,379.00 - Recapture adjustment based on revised projections

Transfers between Functions have been requested to redistribute the budget to align specific amounts to meet projected actual expenditures as requested by principals and department heads - No Budget Impact. The largest transfers included reclassifying $15,348 to Function 19 to reallocate instruction funds into technology for the second semester, $500 to Function 51 for wiring for Miller Elementary and Carlisle Elementary and $595 to Function 11 to convert 7 staff development codes to authorized school business.

Other Funds:
Key Budget Items:
Fund 410 - Textbook Allotment AP:
$ 56,085.95 - Revenue received from the state for AP textbooks
Fund 469 - Miscellaneous Local Donations:
$ 6,000.00 - Revenue received for Siemens Science Awards for PESH and PSHS
Fund 473 - E-Rate Technology Fund:
$ 168,221.33 - Year to Date E-Rate Revenue received
Fund 513 - Debt Service Fund
$ 1,505,536.00 - Revenue adjusted for new projections

Transfers between Functions have been requested to redistribute the budget to align specific amounts to meet projected actual expenditures as requested by principals and department heads - No Budget Impact.

Summary:

Appendix:

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