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.
* A...
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