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Meeting of the Board of Regents | December 2007

Saturday, December 1, 2007 - 9:00am

sed seal                                                                                                 

 

 

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

TO:

 

FROM:

Theresa E. Savo 

 

SUBJECT:

State Education Department November 2007 Fiscal Report

 

DATE:

December 4, 2007

 

STRATEGIC GOAL:

Goal 5

 

AUTHORIZATION(S):

 

 

Executive Summary

 

 

Issue for Discussion

 

The November 2007 Fiscal Report is presented for review, discussion and acceptance.

 

Reason(s) for Consideration

 

Update on Department State Operations expenditure and revenue projections.

 

Proposed Handling

 

Review, discussion and acceptance.

 

Procedural History

 

The November report reflects actual expenditures through the first eight months of the 2007-2008 State fiscal year and projected expenditures through the lapse period ending June 30, 2008.

 

Background Information

 

  • All Funds - Spending controls continue.
  • General Fund – All of our general fund accounts are in structural balance.
  • Special Revenue – Our revenue accounts are in structural balance (allowing for normal reimbursement delays and the planned use of prior year balances). After expending prior year funds, the Archives Partnership Trust (APT) will use sufficient revenue from the APT endowment, pursuant to Chapter 399 of the Laws of 1998, to maintain structural balance.
  • 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 November 2007 State Education Department Fiscal Report as presented.

 

Timetable for Implementation

 

              N/A

 

 

Attachment