DEPARTMENT: Pre-K 4 SA
DEPARTMENT HEAD: Kathy Bruck, CEO
COUNCIL DISTRICTS IMPACTED: Citywide
SUBJECT:
FY 2016 First Quarter Financial Update
SUMMARY:
This item includes a staff briefing and Board discussion of the First Quarter Financial Report.
BACKGROUND INFORMATION:
On April 7, 2015, the Board approved the FY 2016 Pre-K 4 SA Budget. In order to keep the Board updated and informed of the Pre-K 4 SA budget, a First Quarter Financial Update will be presented that focuses on the financial performance throughout the First Quarter of the fiscal year (July through September 2015).
Pre-K 4 SA’s Department Fiscal Administrator (DFA) develops monthly plans with assistance from the CEO, Pre-K 4 SA Directors and the City’s Office of Management and Budget to monitor actual financial performance. These plans are then compared against actual results to determine if adjustments to the budget are required.
ISSUE:
This update includes a summary of Pre-K 4 SA total revenues and expenditures for the first quarter of FY 2016 measured against budgeted amounts for the same period.
ALTERNATIVE:
Alternatives are not applicable for this item.
FISCAL IMPACT:
This item is for briefing only and does not include a fiscal impact. Pre-K 4 SA anticipates presenting revised FY 2016 budget estimates during the February 2016 Board of Directors meeting.
RECOMMENDATION:
This item includes a briefing only and does not request any Board action.