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[node:field_meeting_type] | July 2005

Friday, July 1, 2005 - 11:00pm
   

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 2005 Fiscal Report
DATE: July 1, 2005
STRATEGIC GOAL: Goal 5
AUTHORIZATION(S):


Executive Summary

Issue for Discussion

The June 2005 Fiscal Report is presented for review, discussion and acceptance. We have received no USNY grants since the last Fiscal Report. A Variance Report is attached reflecting an adjustment in the Office of Cultural Education (OCE) for expenditures that OCE planned for last year that were delayed until this year (delayed spending rather than additional spending).

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 for the 2005-06 State fiscal year reflecting expenditures for the first quarter of the 2005-06 State fiscal year.

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 2004-05 tenured teacher hearing costs were deferred to the 2005-06 State fiscal year and were paid with 2005-06 funds.

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 June 2005 State Education Department Fiscal Report as presented.

Timetable for Implementation

N/A

 

Attachments

Attachment I

June Variance Report
May June
Report Report Variance Explanation
(1) (2) (3) = (2-1)
Office of Cultural Education (Continued)
SPECIAL REVENUE
Cultural Education Account
Total  Expenditures
Actual and Projected 207,000 600,000 393,000 Last year, the State Library made significant renovations on the 6th and 7th floor
of the Cultural Education Center.  This increase reflects bills for those renovations
that were received and paid this year.  Expenditures last year were decreased by
an equal amount.
3

Attachment II