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January 19, 2021 School Board Meeting
Title
General, Internal Service Casualty, Internal Service Medical Funds Budget Amendments for September 30, 2020
Meeting Date(s)
Consent w/o Information - 01/19/2021
Consent Type
Discussion

General Fund Budget Amendment Resolution #1

Operating Revenue (pages 1-2) has decreased $4,249,995 since the adopted budget.

Federal sources have increased $51,197 due to the receipt of CARES Provider Relief.

State revenue has increased $555,942 due to the receipt of $568,400 CARES Act Rising Kindergarten funds and the return of funds to the Florida Department of Education.

Local sources have increased $150,000 due to the expansion of Advanced Placement participation and the anticipated increase to FEFP Revenue.

 

Beginning Fund Balance has decreased $4,249,995 for a combination of reasons listed below.

Prior Period Adjustments
Transfer to Workers' Compensation (2,900,000)
Transfer to Medical Insurance Trust Fund (2,500,000)
Reclassify CARES Act Expenditures to Federal Programs 1,417,444
Increase Federal Indirect Revenue 63,019
Recognize Expenditures in the Prior Year (330,458)

 

Individual Function and Object line items have changed due to the posting of Carry Forward and Encumbrances - funds were moved from Beginning Fund Balance into the various areas.

In addition, appropriations have also increased or decreased based on budget amendments done by individual schools and departments.

 

Internal Service Casualty Fund Budget Amendment Resolution #1

Beginning Fund Balance has increased $2,900,000 since the adopted budget due to the transfer from the General Fund.

 

Internal Service Medical Fund Budget Amendment Resolution #1

Beginning Fund Balance has increased $2,500,000 since the adopted budget due to the transfer from the General Fund.

 

Recommendation

Approve resolution #1 to amend the General Fund Budget as of September 30, 2020.

Approve resolution #1 to amend the Internal Service Casualty Fund Budget as of September 30, 2020.

Approve resolution #1 to amend the Internal Service Medical Fund Budget as of September 30, 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 Cindy Lesinski, Chief Financial Officer, ext. 11600
Attachments
Medical Funds (731) Budget Amendment #1 - September 30, 2020.pdf
casualty-funds-71x-budget-amendment-1-september-30-2020_1.pdf
General Fund Budget Amendment #1 - September 30, 2020 FINAL.pdf
Agenda Plus