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 2006 Fiscal Report

 

 

DATE:

July 10, 2006

 

 

STRATEGIC GOAL:

Goal 5

 

 

AUTHORIZATION(S):

 

 

 

Executive Summary

 

 

 

Issue for Discussion

 

The June 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 June report is the third report of the 2006-2007 State fiscal year and reflects actual expenditures through June 30, 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 June 2006 State Education Department Fiscal Report as presented.

 

Timetable for Implementation

 

            N/A

 

 

Attachment