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THE STATE EDUCATION
DEPARTMENT /
THE UNIVERSITY OF THE STATE OF NEW YORK / ALBANY, NY 12234 |
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TO: |
The Honorable the Members of the Board of Regents |
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FROM: |
Theresa E. Savo |
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COMMITTEE: |
Full Board |
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TITLE OF ITEM: |
State Education Department April 2004 Fiscal Report |
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DATE OF SUBMISSION: |
May 4, 2004 |
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PROPOSED HANDLING: |
Acceptance |
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RATIONALE FOR ITEM: |
Acceptance of April 2004 Fiscal Report |
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STRATEGIC GOAL: |
Goal 5 |
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AUTHORIZATION(S): |
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SUMMARY:
The April 2004 Fiscal Report is attached for your review, discussion and acceptance. Two USNY grants have been accepted since the last Fiscal Report; a summary is attached.
The April report is the first report for the 2004-05 State fiscal year. Tight spending controls continue. The revenue and expenditure projections in this report are consistent with the Executive budget recommendations. Once the 2004-2005 budget is enacted, our projections will be adjusted accordingly.
· General Fund – Our general fund accounts are in structural balance.
· Special Revenue – All revenue accounts are in 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 insure structural balance. Please contact me if you have any questions regarding this report.
I recommend that the Board of Regents take the following action:
VOTED, that the Board of Regents accept the April 2004 State Education Department Fiscal Report as presented.
Attachments