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S chool Finance Update Series VI -Revenue Mid Year Review

S chool Finance Update Series VI -Revenue Mid Year Review. 199 General Operating Fund. Revenue Source = State Funds Projected $105,965,003 Revised $106,922,550 Variance__$957,547. 199 General Operating Fund. Revenue Source = Federal Funds Projected $923,500

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S chool Finance Update Series VI -Revenue Mid Year Review

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  1. School Finance UpdateSeries VI -RevenueMid Year Review

  2. 199 General Operating Fund Revenue Source = State Funds Projected $105,965,003 Revised $106,922,550 Variance__$957,547

  3. 199 General Operating Fund Revenue Source = Federal Funds Projected $923,500 Revised $710,129 Variance -$213,371

  4. 199 General Operating Fund Revenue Source = Local Funds Projected $24,652,225 Revised $24,398,370 Variance -$253,855

  5. The Bottom Line • Effect:$490,321 NET Plus Projected shortfall in revenues • Cause: September 11th Tragedy, Weak economy-lower interest rates, lack of billings efforts from Special Ed and related departments • Other sources make up for shortfall.

  6. Contingency Plan • (1) Offset with other revenues • (2) Freeze after May 1st on codes for 6200, 6300, 6400 and 6600 • (3) Delay hiring of admin-personnel by 30 days • (4) Monitor expenditures • (5) Seek other funds via grants, etc.

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