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...
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