Agenda Item
4.01 FY 2009 Final Budget Review - Approve the revenue and expenditure adjustments as detailed in the agenda item (FS; presented as new business 7/9/09)
Meeting:
07/23/2009 Regular Meeting No. 2
Category:
4. Action Items - 8:05 p.m.
Agenda Type:
Action
Agenda Item Content
Staff Contact:
Susan Quinn, Chief Financial Officer
Other Staff Present:
Kristen Michael, Director, Office of Budget Services
Meeting Category:
July 23, 2009 – Regular Meeting No. 2
Subject:
FY 2009 Final Budget Review
School Board Action Required:
Action
Key Points:
All of the FY 2009 accounts have been closed, subject to the annual independent audit. A summary of the revenue and expenditure variances is provided for each of the funds under the control of the School Board. All comparisons are against the FY 2009 estimate. The unaudited FY 2009 ending balance, after meeting the FY 2010 budgeted beginning balance and other commitments, is $25.2 million.
FY 2009 actual revenue was $0.7 million higher than the estimate due to a net decrease in state revenue of $0.6 million resulting from a $4.1 million decrease in sales tax revenue offset by a $3.5 million increase in basic aid; a net reduction of $3.6 million in federal funding resulting from $6.7 million in unspent multi-year federal grant funds that will be carried forward offset by an increase of $3.1 million in Impact Aid and E-rate payments; and a net increase of $5.0 million in other revenue.
In recognition of budget reductions included in the FY 2010 Approved Budget, schools and departments conserved resources where possible during FY 2009. In addition, compensation savings resulted from positions held vacant prior to being eliminated. Expenditure savings were primarily realized from $9.0 million in compensation; $6.7 million in unspent federal grant funds that will carry forward to FY 2010; $4.1 million in vehicle services and fuel; and $2.4 million in utilities.
After the annual independent audit is completed, the available balance from FY 2009 will be available to be set aside for the FY 2011 budgeted beginning balance. This action will be addressed during the FY 2010 Midyear Budget Review.
Recommendation:
That the School Board approve the revenue and expenditure adjustments as detailed in the agenda item.
Board Member Amendment:
Amend the main motion by reallocating $1.0 million from the FY 2009 year-end balance to the FY 2010 staffing reserve to be used to mitigate staffing issues which may arise as a result of increased class size or other situations which may adversely affect classroom instruction; and further move that any portion of the $1.0 million that is not used during FY 2010 be allocated to the FY 2011 beginning balance. (Wilson)
Attachment:
Action Agenda Details
Motion:
Approve revenue and expenditure adjustments as detailed in the agenda item and as amended, by reallocating $1.0 million from the FY 2009 year end balance to FY 2010 staffing reserve to be used to mitigate staffing issues which may arise as a result of increased class size or other situations which may adversely affect classroom instruction; and further move that any portion of the $1.0 million that is not used during FY 2010 be allocated to the FY 2011 beginning balance.
Motion By:
Jane K Strauss
Second:
Brad Center
Action:
Unanimous
Voting Record
Kathy L Smith Chairman
Yea
Judith (Tessie) Wilson Vice Chairman
Yea
Elizabeth T Bradsher
Yea
Brad Center
Yea
Stuart D Gibson
Yea
Martina A Hone
Yea
Kaye Kory
Yea
Ilryong Moon
Yea
James L Raney
Yea
Daniel G Storck
Yea
Jane K Strauss
Yea
Shawn Ghuman Student Representative
Not Present