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February 23, 2021 School Board Meeting
Title
Operating, Debt Service, Capital Projects, Special Revenue - Food Service, Special Revenue - Other, Internal Service Medical, and Enterprise Funds Budget Amendments for December 31, 2020
Meeting Date(s)
Consent w/o Information - 02/23/2021
Consent Type
Discussion

Operating Fund Budget Amendment Resolution #4

Operating Revenue (pages 1-2) has increased $1,033,123 since the last budget amendment.

Miscellaneous Local sources have increased $1,033,123.

Main Drivers:  
Brevard County CARES Act Revenue 648,500
Slosberg Drivers Education Funds 93,587
Connect by 25 Grant 64,800
Florida Blue Grant 44,400
School Initiated Projects Matching Funds 39,846
Marketing Revenue 23,017
Union Staff Reimbursement 19,964
Facility Use Agreements 19,510
Tutoring 16,958
Fingerprinting Fees 14,496

In addition, the budget has been updated to include raises for teachers represented by the Brevard Federation of Teachers union that were approved at the October 27, 2020 Board meeting and implemented as of November 30, 2020.

Appropriations have also increased or decreased based on budget amendments done by individual schools and departments.

Debt Service Fund Budget Amendment Resolution #1

Revenue and Other Financing Sources have been amended to the following:

Transfers from capital tax levy decreased by $2,922,200 to account for increases in other transfers. Transfers from capital other increased by $127,200 to account for the sale of a portion of land secured through a COP and used for debt service funding per the District’s debt covenants within our Master Lease Agreement. Transfers from impact fees increased by $2,800,000 to account for the Board approved debt service funding from impact fees. This is a net increase of $5,000 in total for revenue and other financing sources.

Appropriations have been amended to the following:

Fees under the COP category increased by $5,000 to account for legal fees associated with the sale of land. This is a net increase if $5,000 in total for expenditures.

Capital Projects Fund Budget Amendment Resolution #1

Revenues and other financing sources have increased by a net amount of $23,245,963 since the budget was approved by the School Board on September 10, 2020. Appropriations have increase/decreased based on budget amendments.

Main drivers for Resolution #1 are:

Revenues

Sales Surtax $21,732,944

PECO-Charter Schools $613,596

Other Financing Sources

Transfer from Operating $12,865

Sale of Property $127,200

Special Revenue - Food Service Fund Budget Amendment Resolution #1

Revenue has not changed. Appropriations, however, have changed overall to reflect carry forward from last year and any vacant positions.

Special Revenue - Other Fund Budget Amendment Resolution #1

Revenue have increased by a net amount of $548,328 since the adopted budget dated September 10, 2020. Appropriations have increased/decreased based on budget amendments.

Main drivers for Resolution #1 are:

Charter School CARES $548,328

Special Revenue - CARES Act Fund Budget Amendment Resolution #1

Revenues have increased by a net amount of $1,296,950 since the adopted budget dated September 10, 2020. Appropriations have increased/decreased based on budget amendments.

Main drivers for Resolution #1 are:

CARES Act $1,296,950

Internal Service Medical Fund Budget Amendment Resolution #2

Revenues have increased $2,500,000 since the last budget amendment. This change is due to a transfer in from the General Fund.

Enterprise Fund Budget Amendment Resolution #1

Beginning Fund Balance has changed, in the amount of $395,422, since the budget was approved by the School Board on September 10, 2020 due to a prior period adjustment for Other Post Employment Benefits (OPEB).

Recommendation

Approve resolution #4 to amend the General Fund Budget as of December 31, 2020.

Approve resolution #1 to amend the Debt Service Fund Budget as of December 31, 2020.

Approve resolution #1 to amend the Capital Projects Fund Budget as of December 31, 2020.

Approve resolution #1 to amend the Special Revenue – Food Service Fund Budget as of December 31, 2020.

Approve resolution #1 to amend the Special Revenue - Other Fund Budget as of December 31, 2020.

Approve resolution #1 to amend the Special Revenue – CARES Act Fund Budget as of December 31, 2020.

Approve resolution #2 to amend the Internal Service Medical Fund Budget as of December 31, 2020.

Approve resolution #1 to amend the Enterprise Fund Budget as of December 31, 2020.

Authority for Action
2009.53(1), 237.02 FS
Involves Expenditure of Funds Directly in the Classroom
No
Source of Funding
Financial Impact
FY Amount Budgeted Fund Cost Center Project Function Object Program
                 
Legal Counsel Review
No
Contact
Karen Strickland, Director of Budgeting, Cost Accounting & FTE, ext. 11610 Susan Denyer, Director of Accounting Services, ext. 11660 Kevin Thornton, Director of School Food & Nutrition, ext. 11690 Cindy Lesinski, Chief Financial Officer, ext. 11600
Attachments
Budget Amendment #4 - December 31, 2020.pdf
FY2021 Debt Service Budget Resolution #1.pdf
Capital Project Budget Amendment FY21 #1.pdf
FNS Budget Amendment #1 - December 31, 2020.pdf
Special Revenue Other Budget Amendment FY21 #1.pdf
Special Revenue CARES Act Budget Amendment FY21 #1.pdf
2020-21 Internal Service Medical Funds Budget Amendment #2 - December 31, 2020.pdf
2020-21 Enterprise Fund Budget Amendment #1 - December 31, 2020.pdf
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