	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 June 2009 Fiscal Report
DATE:		July 8, 2009
STRATEGIC GOAL:		Goal 5
AUTHORIZATION(S):

Executive Summary

Issue for Discussion

The June Fiscal Report is presented for review, discussion and acceptance. We have accepted one USNY grant since the last Fiscal Report; a summary is attached.

Reason(s) for Consideration

Update on Department State Operations expenditure and revenue projections.

Proposed Handling

Review, discussion and acceptance.

Procedural History

The June report is the third report of the new State fiscal year and reflects actual expenditures through June 30, 2009 and projected expenditures through the lapse period ending June 30, 2010.

Background Information

All Funds - Spending controls continue.
General Fund – All of our general fund accounts are in structural balance with the exception of the Tenured Teacher Hearing account.

Special Revenue

Our revenue accounts are in structural balance (allowing for normal reimbursement delays and the planned use of prior year balances) with the exception of the Cultural Education Account due to declining revenues and continued reliance on the account by other agencies.
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.
All expenditure plans are subject to Division of the Budget approval.

Federal Accounts – Our federal accounts are in structural balance. This report reflects current year activity for two year grant awards.

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 June 2009 State Education Department Fiscal Report as presented.

Timetable for Implementation

N/A

Attachment

The University of the State of New York

Regents Research

USNY grants approved during June and July 2009 by Theresa E. Savo, Fiscal Agent:

ING - $2,000

To support the 2009-2010 NYS Teacher of the Year Program

Carnegie Corporation of New York - $200,000