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 May 2004 Fiscal Report

DATE OF SUBMISSION:

June 2, 2004

PROPOSED HANDLING:

Acceptance

RATIONALE FOR ITEM:

Acceptance of May 2004 Fiscal Report

STRATEGIC GOAL:

Goal 5

AUTHORIZATION(S):

 

 

SUMMARY:

 

The May 2004 Fiscal Report is attached for your review, discussion and acceptance. We have received no USNY grants since the last Fiscal Report.

 

The May report is the second report for the 2004-05 State fiscal year. Tight spending controls continue. The revenue and expenditure projections in this report are consistent with the Executive budget recommendations. Once the 2004-2005 budget is enacted, our projections will be adjusted accordingly.

 

        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).

        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 May 2004 State Education Department Fiscal Report as presented.

 

Financial Status as of May 31, 2004 - Excel