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Meeting Date:
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10/31/2019 - 6:30 PM
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Category:
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Report of the Committee on Accountability, Finance, and Personnel
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Type:
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Action
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Subject:
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9. Action on a Request to Carry Over FY19 School Deficit and Contracted Carry-over Amounts
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Strategic Plan Compatibility Statement:
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Goal 3 Effective and Efficient Operations
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Attachments
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1. FY19 School Deficit Amounts
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File Attachment:
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Background:
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School leaders take the lead responsibility for spending in accordance with their schools' budgets. A school's overall deficit balance occurs when total expenditures exceed the total to-date authorized funding amount in non-position costs. A school's spending is tracked monthly by the school leader and the Administration. The Administration and school staff are alerted to potential problems, and where warranted, controls to limit school spending are put in place to mitigate risk.
According to Administrative Policy 3.05, concerning school deficits, year-end deficits incurred shall be carried over into the next year.
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Fiscal Impact Statement:
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Approval of the deficit carryover will result in each school's paying back its deficit within three to five years. The total deficit among the schools is $1,720,561. About $583,866 will be paid back in the first year.
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Implementation and Assessment Plan
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Recommendation:
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Your Committee recommends that FY19 school deficit and contracted carry-over amounts be carried over to FY20 and that schools with deficits from FY19 pay back the amounts within three years and not more than five years.
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Approvals:
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Recommended By:
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Signed By:
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Jacqueline M. Mann, Ph.D. - Board Clerk/Chief Officer
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