Title and Board Action Requested
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Approve Fiscal Year 2024-2025 Budget Amendment No.2 for the Quarter Ending December 31, 2024
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Executive Summary
The Chief Financial Officer, on behalf of the Superintendent of Schools, hereby requests the Board’s approval for Budget Amendment No.2 for the Quarter Ending December 31, 2024.
In accordance with Section 1011.06 of the Florida Statutes, amendments to the original budget must be submitted to the Board for approval. Attached is the second budget amendment for the Fiscal Year 2024-2025, covering the quarter ending December 31, 2024. This amendment has been reviewed and certified as accurate by the Finance Department.
General Fund:
• Estimated revenues were adjusted to reflect actual collections received during the quarter. Federal funding, through both state and local sources, increased by $90,000 for Florida Minority and Underrepresented Student Achievement. Additionally, local revenue sources saw an increase of $7,017 from various miscellaneous local sources.
• Appropriations were amended to account for salary and fringe benefit increases for employees as approved by the Board on October 22, 2024, for HCTA employees and on November 19, 2024, for HUSW, Confidential, Professional Technical, Administrative, School Safety Guardians, and Associate Substitute employees.
Debt Service:
• There were no changes to either the estimated revenues or appropriations for the second quarter.
Capital Projects:
• Estimated revenue from local sources increased by $260,054, based on actual interest earnings received during the quarter.
• Appropriations were adjusted to reflect movements between budget categories and Board-approved changes related to capital projects during the quarter. Appropriations increased $13,109 to purchase replacement locks.
• The Ending Fund Balance for Capital Projects for the second quarter is $74,320,714.
Food Service:
• No adjustments were made to the estimated revenues for the second quarter.
• Appropriations were reallocated between budget categories to reflect regular operational activity during the quarter.
• The Ending Fund Balance for Food Service for the second quarter is $12,197,123.
Special Revenue:
• Overall revenues increased by $731,194, driven by collections of $120,392 for Workforce Innovation, $33,663 for Title I Part A Carry Forward, $62,607 for Title III English Language Acquisition, and $558,961 for the Unisig School Improvement Grant.
• Appropriations were adjusted to reflect the increase in revenues and reallocated between budget categories to support the normal operational activities as outlined in the individual grant applications.
Special Revenue - ESSER III
• There were no adjustments to estimated Revenues or Appropriations for the second quarter.
Special Revenue - American Rescue Plan - Homeless Children & Youth:
• There were no adjustments to estimated Revenues or Appropriations for the second quarter.
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.