Title and Board Action Requested
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Approve Fiscal Year 2022-2023 Budget Amendment No. 4 for Quarter Ending June 30, 2023.
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Executive Summary
The Director of Budget, on behalf of the Superintendent of Schools, hereby requests the Board’s approval for Fiscal Year 2022-2023 Budget Amendment No. 4 for Quarter Ending June 30, 2023.
• General Fund
Estimated revenue from Federal Direct Sources increased by $35,838 due to actual collections from our ROTC reimbursement program and by $49,773 based on revenue received for the Department of Justice COPS program.
Actual revenue received from Federal through State and Local Sources decreased by $58,285 based on actual Medicaid collections and decreased by $40,532 based on actual reimbursement received from FEMA for Hurricane Ian.
The fourth FEFP Calc received in April 2023, reported a decrease of 133.17 unweighted FTE resulting in a total reduction in funding of $1,111,008. Estimated revenue from the CO&DS entry, state license tax, school recognition funds and other miscellaneous state sources increased a total of $169,539. Miscellaneous State Sources include the Civics Seal of Excellence program that is a pass-through to teachers who receive stipend payments for completing this course.
Revenue from Local Sources increased $264,638 in Ad valorem property tax payments, $2,243,697 in Property tax redemptions, $930,573 in interest earnings, $23,692 in rental income and $64,189 in revenue related to our Adult Education classes.
In Other Financing Sources we saw a net increase of $4,405,028 in loss recoveries, settlements, and the transfer in from trustee for the bus purchases. The total increase in revenue during the fourth quarter was $6,952,416.
Appropriations were amended to reflect movement between the different functions and objects. Unspent budgets not included in the 2022-2023 carry forward projects were returned to fund balance. Of the total unspent budgets, there is $200,423 carry-forward for Adult Ed Workforce, $5,126,838 in unspent categoricals, $6,938,507 in unspent millage and $4,995,474 in assigned General Fund budgets.
Ending fund balance is estimated at $48,783,594 or 22.67% of General Fund revenues and includes reserves (Non-spendable) for inventory in the amount of $1,104,803, the (Restricted) for Workforce and Categoricals in the amount of $5,327,261, the (Assigned) for Health Insurance Rebates/Profit Sharing/Wellness/Risk in the amount of $2,722,773, the (Assigned) Project/Millage Carry-Forward in the amount of $11,933,981, the (Assigned) for New School/Addition Operations in the amount of $2,000,000, the (Assigned) for Maintenance/Facilities/Safety/Other Department Reserve in the amount of $3,000,000, the (Assigned) for ESSER Funded Positions in the amount of $2,500,000 and the (Assigned) for FEFP/Family Empowerment Scholarship Adjustments in the amount of $2,400,000.
The Beginning budget was reduced by $94,185 due to the transfer from the District for the SunTec program to their internal account. The Unassigned Ending Fund Balance is $17,794,776 or 8.27% of General Fund revenues.
• Debt Service
Estimated revenues from State Sources had a net decrease of $156,374 based on the CO&DS entry and the re-classification of the Racing Commission revenue.
Interest received from Local Sources and interest earned from the Trustee increased by $60,699.
Transfers in from General Fund decreased by $5,000 and transfers in from Capital Funds decreased by $7,087.
Appropriations decreased by $9,560 based on the decrease in dues and fees related to the CO&DS entry. Transfers to General Fund increased by $4,385,055 for the bus purchases.
Ending fund balance decreased overall by $4,483,257 and as of June 30, 2023, is $8,948,882.
• Capital Projects
Revenue from State Sources increased $593,987 which includes the $581,668 from the CO&DS Entry. Estimated Revenue from PECO and the Charter School Class Size Reduction Transfer decreased by $2,609,923.
Local Revenue increased by $113,885 for Ad valorem taxes, $4,126,144 in revenue for the Half Cent Sales Tax, $672,404 in Tax Redemptions and $744,489 in additional Interest earnings. Impact Fee revenue decreased by $648,409 based on actual collections.
Appropriations were adjusted in the amount of $38,353,968. This adjustment was for open purchase order balances that were closed on June 30, 2023. Of this total, $29,104,642 will be released when new purchase orders are opened in July 2023.
The Capital Projects fund balance on June 30, 2023, is $75,180,532.
• Food Service
Revenue from Federal Through State Sources increased $1,681,617 based on actual collections from the National School Lunch Act. We ended June 2023 with $23,318 in USDA Donated Commodities. An additional $209,904 was received from the Supply Chain Assistance program.
Revenue from State Sources increased $4,223 based on actual collections from the School Breakfast and Lunch Supplement program.
Local Revenue increased $126,886 from various sources such as Student Lunches, Adult Lunches, Student/Adult Ala Carte, and Student Snacks.
Appropriations were amended based on actual salaries, purchased services and materials and supplies paid through June 30th resulting in a decrease totaling $4,205,001. Open purchase orders for materials and supplies were closed and new purchase orders will be issued for fiscal year 2023-2024.
Ending Food Service Fund balance as of June 30, 2023, is $11,638,647.
• Special Revenue
Estimated Revenues and Appropriations for all of the Special Revenue Funds were adjusted based on actual collections and expenditures for this fiscal year. When the Department of Education certifies the 2022-2023 roll forward grant amounts to the District, these amounts will be part of the 2023-2024 Fiscal Year budget.
• Special Revenue - ESSER I
This grant has closed. Unspent Revenues and Appropriations for this grant were adjusted based on actual collections and expenditures for this fiscal year.
• Special Revenue - GEER I
This grant has closed.
• Special Revenue - ESSER II
Estimated Revenues and Appropriations were adjusted based on actual collections and expenditures for this fiscal year. The remaining balance on this grant will be part of the 2023-2024 ESSER II budget.
These grants will close in September 2023.
• Special Revenue - CRRSA GEER II
This grant has closed.
• Special Revenue - ESSER III
Estimated Revenues and Appropriations were adjusted based on actual collections and expenditures for this fiscal year. The remaining balance on these grants will be part of the 2023-2024 ESSER III budget.
These grants will close in September 2024.
• American Rescue Plan/Homeless Children and Youth
Estimated Revenues and Appropriations were adjusted based on actual collections and expenditures for this fiscal year. The remaining balance on these grants will be part of the 2023-2024 American Rescue Plan budget.
These grants will close in September 2024.
My Contact
Kendra L. Sittig
Director of Budget
(352) 797-7004 x418
2018-23 Strategic Focus Area
Pillar 5: Fiscal Responsibility & Organizational Effectiveness
Financial Impact
See attached budget amendments.
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.