[node:field_meeting_type] | July 2005
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|
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.
Review, discussion and acceptance.
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.
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.
I recommend that the Board of Regents accept the June 2005 State Education Department Fiscal Report as presented.
Timetable for Implementation