THE STATE EDUCATION DEPARTMENT / THE UNIVERSITY OF THE STATE OF NEW YORK / ALBANY, NY 12234

 

TO:

The Honorable the Members of the Board of Regents

FROM:

Theresa E. Savo

COMMITTEE:

Full Board

TITLE OF ITEM:

State Education Department January 2004 Fiscal Report

DATE OF SUBMISSION:

February 2, 2004

PROPOSED HANDLING:

Acceptance

RATIONALE FOR ITEM:

Acceptance of January 2004 Fiscal Report

STRATEGIC GOAL:

Goal 5

AUTHORIZATION(S):

 

 

SUMMARY:

 

The January 2004 Fiscal Report is attached for your review, discussion and acceptance. Two USNY grants have been accepted since the last Fiscal Report; a summary is attached.

 

January begins the final quarter of the 2003-2004 fiscal year. We have revisited our expenditure and revenue projections to determine what adjustments are necessary as we approach the end of the State fiscal year. A Variance Report summarizing these adjustments is attached.

 

        General Fund Our general fund accounts are in structural balance.

        Special Revenue All revenue accounts are in balance (allowing for normal reimbursement delays and the planned use of prior year balances) except for the Office of the Professions account where the imbalance this year will be offset next year by increased fee revenue (new professions) or reduced expenditures.

        Federal Accounts Our Federal accounts are in structural balance.

 

Our Budget Coordination staff and I will continue to closely monitor each of these accounts and work with program office fiscal staff and the Deputies to insure structural balance. Please contact me if you have any questions regarding this report.

 

I recommend that the Board of Regents take the following action:

 

VOTED, that the Board of Regents accept the January 2004 State Education Department Fiscal Report as presented.

 

 

Attachments

 

Variance Report for January, 2004

 

Fiscal Report for January, 2004