Title and Board Action Requested
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Approve Fiscal Year 2023-2024 Budget Amendment No. 2 for Quarter Ending December 31, 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 2023-2024 Budget Amendment No. 2 for Quarter Ending December 31, 2023.
Section 1011.06, Florida Statutes, requires that amendments to the original budget be brought to the Board for approval.
Attached is the second budget amendment for Fiscal Year 2023-2024 for Quarter Ending December 31, 2023. This amendment is certified to be correct by the Finance Department.
* General Fund:
Estimated revenues were adjusted based on collections received during the quarter as well as the adjustments to our State Funding from Florida Department of Education on the 3rd FEFP Calc. Federal through State and Local funding increased $45,400 for additional Medicaid funds received. Miscellaneous Federal through State increased $150,000 for the Reading SoRT Grant and $266,868 for the Revenue billed for Hurricane Idalia to Hernando County.
There was an FTE funding decrease from Florida Department of Revenue based on the 3rd FEFP Calc in the amount of $4,900,238. Adult Education received an additional $20,015 in Workforce Education Performance Incentive funding. Other Miscellaneous State Revenue increased $112,465 for the School Mapping Grant and $5,177 for Intangible Property Tax Revenue.
Estimated revenue from Local Sources increased a total of $603,636. Interest income was increased by $400,000 based on actual monthly interest received during the first six months of the fiscal year. Adult Education fees increased a total of $72,399 during the quarter. Miscellaneous Local Revenue increased a total of $120,032 based on the actual collection from Withlacoochee River Electric Capital Credit program and other miscellaneous local sources. Loss Recoveries increased a total of $241,696 based on the receipt of the i...
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