Title and Board Action Requested
title
Approve Fiscal Year 2025-2026 Budget Amendment No.1 for the Quarter Ending September 30, 2025
body
Executive Summary
The Chief Financial Officer, on behalf of the Superintendent of Schools, hereby requests the Board’s approval for Budget Amendment No.1 for the Quarter Ending September 30, 2025.
Pursuant to Florida Statute 1011.06, amendments to the original budget must be submitted to the Board for approval. Attached is the first budget amendment for Fiscal Year 2025-2026, certified as accurate by the Finance Department.
General Fund:
Estimated revenues were adjusted based on actual collections for the quarter. Federal through State and Local funding increased $49,679 for the 2024-25 Math/ELA and MUSA grants. State revenue decreased by $253,174 due to adjustments for the Workforce Capitalization Incentive Grant and Preschool projects.
Miscellaneous Local Revenue increased to $463,705. This included $5,339 received from donations, $206,542 for Adult Education Financial Aid, Lifelong Learning, and Adult General Education fees. Reimbursement of expenditure increased by $251,824 and Loss Recoveries increased $180.
Appropriations were amended to reflect 2024-2025 project carry-forward budgets that rolled into 2025-2026 as seen below:
General Fund Carry-Forward $ 1,402,467
General Fund Workforce Carry-Forward 244,499
General Fund Categorical Carry-Forward 10,200,005
General Fund Millage Carry-Forward 6,065,574
The Ending Fund Balance is estimated $16,907,803 or 7.17% of General Fund revenues which includes reserves (non-spendable) for inventory in the amount of $1,322,657, the (assigned) for Health Insurance/Rebates/Profit Sharing/Wellness/BCBS Donations of $2,414,660. The Unassigned Ending Fund Balance of $13,170,485 or 5.58% of General Fund revenues.
Debt Service:
Estimated revenues were adjusted to $27,192 based on interest income received during the quarter.
There were no adjustments to the appropriations during the quarter.
Capital Projects:
Estimated Revenues increased overall $268,458. State revenue increased $248,287 for the Educational Facility Security Grant. Local Revenue increased by $20,171 in interest income received during the quarter.
Appropriations increased by $50,492.626, reflecting Board approved projects and 2024-2025 Carry-Forward budgets as seen below:
Wilton Simpson New Vo-Tech School $ 21,100
Winding Waters K8 - Classroom Addition 13,202,315
Winding Waters K8/Weeki Wachee High School Chiller 5,592,372
Computer Refresh /Student Laptop Replacements 1,656,163
Nature Coast High School Hurricane Road Repair 480,000
Springstead High School Drainage Project 3,760,735
Portables 13,425
Eastside Elementary School Kitchen Expansion 5,553,193
Spring Hill Elementary Traffic Stacking/Parking Lot 900,000
Countywide Building Maintenance 122,781
Countywide HVAC 3,565,882
Countywide Safety 4,268,680
Countywide Reroofing 1,196,852
Countywide Generators 121,070
Countywide Site Improvements 640,840
Countywide Building Improvements 8,433,198
Countywide Plumbing 215,640
Buses/Motor Vehicles 748,380
Food Service:
Revenues were realigned between functions during the quarter.
Appropriations increased overall by $657,000. There was a net increase in Salaries and Benefits of $10,751. Purchased Services, Energy Services, and Supplies increased by $8,509. Capital Outlay increased $638,004 for kitchen equipment purchases at various school sites.
Special Revenue:
Revenues decreased by $3,787 based on the adjustments reflected in the individual grant applications.
Appropriations were reallocated among expenditure categories to support normal operational activity for the quarter, consistent with the requirements of each grant application.
Special Revenue - ESSER III:
Estimated revenues were added in the amount of $4,287 based on the final amended budget narrative approved by the Department of Education.
Appropriations were added to correspond with the narrative outlined in the individual grant application.
My Contact
Joyce McIntyre
Chief Financial Officer
(352)797-7004 Ext. 438
2023-28 Strategic Focus Area
Priority 5: Fiscal Transparency and Capital Planning
Financial Impact
As Per Budget Amendment Detail
If expenditure is not currently budgeted, this will serve as the budget amendment when Board approved. If the agenda item includes the purchase of goods or services, the funds requested are an anticipated amount and may fluctuate depending on such factors as current market conditions, product availability, additional funding sources, and the needs of the District. Should the actual cost exceed the anticipated amount, the Board approves the additional cost, after review by the superintendent, but not in excess of the funds available in the site’s approved annual budget.