Title and Board Action Requested
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Approve Fiscal Year 2025-2026 Budget Amendment No.1 for the Quarter Ending September 30, 2025
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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.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 adjustmen...
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