DEPARTMENT: Pre-K 4 SA
DEPARTMENT HEAD: Sarah Baray, Ph.D.
COUNCIL DISTRICTS IMPACTED: Citywide
SUBJECT:
Fiscal Year 2016 Financial Report
SUMMARY:
This item includes a staff briefing and discussion of the unaudited Pre-K 4 SA FY 2016 financial report.
BACKGROUND INFORMATION:
Article 4, Section 2(f) of the Pre-K 4 SA bylaws requires the organization to submit quarterly reports of activities and financial matters to the City Council and the City Manager. Pre-K 4 SA will provide the Board of Directors with a briefing of unaudited financial activities for FY 2016.
ISSUE:
This report includes a summary of revenues and expenditures for FY 2016. The Department earned total revenues of $38,479,821. This amount includes sales tax, state funding, sliding scale tuition, grant funding, interest and other miscellaneous revenue. Total expenditures were $38,189,439. Expenditures include Pre-K Education Centers, facilities, transportation, professional development, program assessment, administration, communications, and transfers to the City. This briefing will compare ending results with the mid-year budget estimate presented to the Board on February 2, 2016.
Moving forward with FY 2018, Pre-K 4 SA will utilize and introduce the Board to an outcomes-based budgeting process.
ALTERNATIVES:
This item is briefing for informational purposes only.
FISCAL IMPACT:
This item is briefing for informational purposes only.
RECOMMENDATION:
This item is briefing for informational purposes only.