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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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SUBJECT: |
State
Education Department May 2006 Fiscal Report |
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DATE: |
June 1, 2006 |
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STRATEGIC
GOAL: |
Goal
5 |
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AUTHORIZATION(S): |
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Executive Summary
Issue for
Discussion
The May Fiscal Report is presented for review, discussion and acceptance. We have received no USNY grants since the last Fiscal Report.
Reason(s) for Consideration
Update on Department State Operations expenditure and revenue
projections.
Proposed Handling
Review, discussion and acceptance.
Procedural History
The May report is the second report of the 2006-2007 State fiscal year and reflects actual expenditures through May 31, 2006 and projected expenditures through the lapse period ending June 30, 2007.
Background
Information
· All Funds - Tight spending controls continue.
· General Fund – All of our general fund accounts are in structural balance.
· Special Revenue – Our revenue accounts are in structural balance (allowing for normal reimbursement delays and the planned use of prior year balances). After expending prior year funds, the Archives Partnership Trust (APT) will use sufficient revenue from the APT endowment, pursuant to Chapter 399 of the Laws of 1998, to maintain structural balance.
· Federal Accounts – Our federal accounts are in structural balance. However, it is anticipated that EMSC will undertake additional priority activities over the coming years. Depending on the extent to which these activities are accomplished and paid for in this federal fiscal year, EMSC may need to draw upon its ample prior year balances to cover these costs which may create a structural imbalance.
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 May 2006 State Education Department Fiscal Report as presented.
Timetable for
Implementation
N/A