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September 8. 2022 Final Budget Hearing & School Board Meeting
Title
Budget Amendments for June 30, 2022
Meeting Date(s)
Information - 09/08/2022
Consent after Information - 09/20/2022
Consent Type
Discussion

Financial Services requests an extension of Board Policy 6233 District Budgets from September 10, 2022 to September 30, 2022.  Board policy is based on FAC 6A -1.002 District School Budgets which was repealed April 25, 2017.  Based on the lateness in finalizing FY 2022 actual expenditures, September 10, 2022 Board deadline does not provide the public with adequate time for review as it would necessitate a late addition to the Agenda a couple of days in advance of the September 8, 2022 Board meeting. Amendments are provided as information below and will be submitted for approval on the September 20, 2022 Board meeting. This delay will not have any effects on the District’s ability to file reports to the State.”

_________________________________________________________________

Operating Fund Budget Amendment Resolution #9

Debt Service Funds Budget Amendment Resolution #1

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

State sources of revenue decreased by a total of $10,639 primarily due to the decrease in the District’s portion of the State-assessed motor vehicle license tax revenue applied to State SBE Bonds.  All revenue and expenditure information for SBE Bonds are received from the Florida Department of Education.

Transfers from capital tax levy decreased by $9,520,559 to account for increases in impact fee transfers. Transfers from capital other of $119,011 reflect a reimbursement from Palm Bay Utilities in connection with construction funded initially 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 $9,394,458 to account for the additional Board approved debt service funding from impact fees allocated. This is a net decrease of $17,639 in total for revenue and other financing sources.

Appropriations have been amended to the following:

Fees under the SBE Bonds category decreased by $4,884 and under the COP category decreased by $7,028. This is a net decrease of $11,912 in total for expenditures.

Capital Projects Fund Budget Amendment Resolution #1

Revenue and Other Financing Sources have increased by a net amount of $30,360,350 since the budget adoption.  Appropriations have increased/decreased based on budget amendments. 

Main drivers for Resolution #1 are:

PECO – Charter Schools $513,605
Other State            ($1,406,859)
School Capital Outlay Tax $182,175
Sales Surtax $18,134,288
Interest on Investments ($317,864)
Impact Fees  $9,851,598
Miscellaneous Local Sources $406,619
Land Sales  $1,747,395
Transfers from Special Revenues-Food Services $1,273,245

 

Special Revenue - Food Service Fund Budget Amendment Resolution #2

Revenues and other financing sources have increased by a net amount of $14,395,426 since the last budget amendment which was approved by the School Board on April 12, 2022. Revenue variances are primarily due to the United States Department of Agriculture (USDA) meal flexibility waivers which allowed BPS to serve free breakfast and free lunch meals to all students under the Seamless Summer Option (SS0), and free weekend meals under the Child Care Food Program (CCFP). The implementation of these waivers helped to reduce food insecurity during the COVID-19 pandemic. Appropriations have increased/decreased based on budget amendments. Main drivers for Resolution #2 are:

School Lunch Reimbursement         $8,008,770
School Breakfast Reimbursement    $1,567,204
Child Care Food Program              $1,917,824
USDA Donated Foods                    $1,521,726
Summer Feeding Program             $320,124
Student & Adult A La Carte            $633,145

 

Special Revenue - Other Funds Budget Amendment Resolution #1

Revenue have decreased by a net amount of $14,668,953 since the budget adoption.  Appropriations have increased/decreased based on budget amendments.

Main drivers for Resolution #1 are:

Head Start Grant ($1,1115,896)
Adult Ed ($133,400)
Title II ($462,697)
Education for the Handicapped ($7,101,789)
Title I ($2,736,153)
Title III ESOL ($505,540)
21st Century Schools ($1,436,768)
Other Miscellaneous ($1,213,054)

 

Special Revenue - School Internal Funds Resolution #1

Revenue and Sources have been amended to the following:

Other miscellaneous revenue related to school clubs and activities increased by $3,752,631 primarily due to increased fundraising, donations, ticket sales, and other as we returned to pre-Covid schedules and activity levels.

Appropriations have been amended to the following:

Community Service is the function to which all School Internal Accounts expenditures are charged. Increases related to costs of school clubs and activities of $2,979,404 are primarily due to increases in uniforms, field trips, travel, officiating, and other as we returned to pre-Covid schedules and activity levels.

Fund Balance increased by $773,227 as a result of the changes in revenue and expenditures discussed above.

 

Special Revenue Fund –Federal Education Stabilization Fund (ESSER) Budget Amendment Resolution #1

Revenue have decreased by a net amount of $2,660,876 since the budget adoption.  Appropriations have increased/decreased based on budget amendments and funding to future years.

Main drivers for Resolution #1 are:

Education Stabilization Funds K-12 ($2,841,971)
Education Stabilization Fund Workforce $170,337

 

Internal Service Casualty Fund Budget Amendment Resolution #1

Revenues increased $1,257,287 since the adopted budget. This increase is primarily due to a $1.8 Million Transfer from the General Fund.

Expenditures increased $1,113,885 since the adopted budget. This increase is primarily due to increased expenditures in Workers’ Compensation, Auto and General Liability Claims.

In addition, appropriations have decreased based on budget adjustments.

 

Internal Service Medical Fund Budget Amendment Resolution #1

Revenues increased $210,007 since the adopted budget. This increase is primarily due to a $1.0 Million Transfer from the General Fund offset by Interest Earnings.

Expenditures decreased $9,150,261 since the adopted budget. This decrease is primarily due to lower Claims expense.

In addition, appropriations to fund balance have increased based on budget adjustments.

Recommendation

Approve resolution #9 to amend the Operating Fund Budget as of June 30, 2022.

Approve resolution #1 to amend the Debt Service Fund Budget as of June 30, 2022.

Approve resolution #1 to amend the Capital Projects Fund Budget as of June 30, 2022.

Approve resolution #2 to amend the Special Revenue - Food Service Fund Budget as of June 30, 2022.

Approve resolution #1 to amend the Special Revenue - Other Fund Budget as of June 30, 2022.

Approve resolution #1 to amend the Special Revenue - School Internal Funds as of June 30, 2022.

Approve resolution #1 to amend the Special Revenue - Federal Education Stabilization Fund (ESSER) Budget as of June 30, 2022.

Approve resolution #1 to amend the Internal Service Casualty Fund Budget as of June 30, 2022.

Approve resolution #1 to amend the Internal Service Medical Fund Budget as of June 30, 2022.

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
Diane Lichenstein, 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
June 2022 FY 2022 Monthly Budget Amendment #9.pdf
Debt Service Budget Amendment FY 22 #1.pdf
Capital Project Funds FY22 Budget Amendment #1.pdf
Special Revenue Fund Food Service Budget Amendment #2 as of June 30, 2022..pdf
Special Revenues - Other FY22 Budget Amendment #1.pdf
School Internal Funds budget resolution 6.22.pdf
Special Revenue - Fed Educational Stabilization FY22 Budget Amendment #1.pdf
2021-22 Casualty Funds (71X) Budget Amend #2-06.30.2022.pdf
2021-22 Health Funds (73X) Budget Amend #2-06.30.2022.pdf
Agenda Plus