Huntsville City Schools FY 20 Budget Amendment Dustin

Huntsville City Schools FY 20 Budget Amendment Dustin Daehn CSFO August 06, 2020

Outline • Brief review of April 30, 2020 amendment • Subsequent revisions • Proposed B-I-A • Summary 2

Review of FY 20 Amendment • To replace estimated beginning balances with actual. • To add federal carry-over funds from prior fiscal year after it is closed out and approved. • To add other state and federal grants received after original budget is submitted. • To adjust material differences in original estimates. • Board approved April 30, 2020 3

Approved April 30, 2020 4

Subsequent Revision – General Fund 5

Subsequent Revision – Special Revenue Fund 6

Subsequent Revision – Debt Service Fund 7

Subsequent Revision – Capital Projects Fund 8

Proposed – B-I-A 9

Summary • New grants are the primary reason the amendment revision was required by ALSDE: • FY 20 ESSER (CARES) $6, 496, 409 • FY 20 A&T $5, 544, 138 • FY 20 ECCA $88, 212 • FY 20 ATM $11, 913 • Additional Lenovo debt service resulted in $2, 208, 863 transfer from General Fund, formerly budgeted in error to the FY 19 A&T grant. • $584, 137 budgeted increase in Capital Projects as a result of transferring HVAC/boiler replacement to A&T grant. • General Fund is still projected to have 1. 63 months operating balance at September 30, 2020. 10