[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
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

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