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 

 

 

SUBJECT:

State Education Department October 2005 Fiscal Report

 

 

DATE:

November 2, 2005

 

 

STRATEGIC GOAL:

Goal 5

 

 

AUTHORIZATION(S):

 

 

 

Executive Summary

 

Issue for Discussion

 

The October Fiscal Report is presented for review, discussion and acceptance.  We have received no USNY grants since the last Fiscal Report.

 

At the end of September we reached the mid-point of the 2005-2006 State fiscal year and the end of the Federal fiscal year.  As we began the second half of the 2005-2006 State fiscal year in October, we revisited our expenditure and revenue projections to determine if any adjustments were warranted.  A Variance Report summarizing adjustments is attached.

 

Reason(s) for Consideration

 

            Update on Department State Operations expenditure and revenue projections.

 

Proposed Handling

 

            Review, discussion and acceptance.

 

Procedural History

 

The October report reflects expenditures for the first half of the 2005-2006 State fiscal year and adjusted revenue and expenditure projections for the second half.

 

 

 

Background Information

 

        All Funds - Tight spending controls continue.

        General Fund Except for the Tenured Teacher Hearing program, our general fund accounts are in structural balance.  Unmet 2004-2005 Tenured Teacher Hearing costs were deferred to the 2005-2006 State fiscal year and were paid with 2005-2006 funds.  A Deficiency Budget request has been submitted.

        Special Revenue Our revenue accounts are in structural 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 ensure structural balance. 

 

Recommendation

 

I recommend that the Board of Regents accept the October 2005 State Education Department Fiscal Report as presented.

 

Timetable for Implementation

 

            N/A

 

 

Attachments

 

2005Meetings/November2005/Variance Report 10-05.xls

 

 

2005Meetings/November2005/2005-06 October Report.xls