Agenda Item
Meeting Date:
6/23/2022 - 6:30 PM  
Category:
Action Items  
Type:
Action  
Subject:
6.2 Approval of 2021-2022 Budget Amendments and Transfers (FINAL VALUES ARE NOW POSTED JUNE 23, 2022)  
Strategic Plan 2018-2023:
Vision
Building Successful Futures - Each Student - Every Day
 
Policy:
DB - Annual Budget  
Provide Name(s) of Attachments:
PRELIMINARY 2021-2022 Budget Amendments and Transfers
FINAL 2021-2022 Budget Amendments and Transfers
 
File Attachment:
PRELIMINARY 2021-2022 EOY Budget Amendments.pdf
FINAL 2021-2022 EOY Budget Amendments.pdf
 
Provide Background Details and Rationale:
***** (FINAL VALUES ARE NOW POSTED JUNE 23, 2022 ****

Historically, the Park Hill Board of Education has made an annual amendment in June of each fiscal year. Actual expenditures by fund will vary from the original budget. State law requires Board approval for any variance that exceeds the original budgeted amounts. The recommended amendment includes actual expenditures through June 23, 2022, an estimate for the balance of June, final payrolls for June, and July and August payroll for teachers.

Fund transfers are typical due to the large amount of revenue taken into Fund 1 but spent from Fund 2 and Fund 4.

GASB 54 requires that all fund balances be classified into one of five levels: Nonspendable, Restricted, Committed, Assigned, or Unassigned. GASB 54 requires that the Board of Education appoint a group or individuals to assign fund balances and possible commitments of fund balances.
 
Provide Funding Source and Estimated Cost:
 
Legal References:
Missouri Revised Statutes | Chapter 67 | Section 67.010
Missouri Revised Statutes | Chapter 67 | Section 67.030
Missouri Revised Statutes | Chapter 67 | Section 67.050
 
Name of Persons(s) Submitting Agenda Item with Title:
Dr. Paul Kelly, Assistant Superintendent for Business & Technology
Dr. Jeanette Cowherd, Superintendent
 
Presenter(s) if Presentation Anticipated:
Dr. Paul Kelly, Assistant Superintendent for Business & Technology  
Recommendation
It is recommended that the Park Hill Board of Education approve the 2021-2022 budget amendments and transfers as presented, and appoint Dr. Cowherd, Dr. Kelly and Brandy Woodley (Board Treasurer) to assign fund balances and identify commitments of the balances.  
Approvals:
Recommended By:
Signed By:
Dr. Paul Kelly - Assistant Superintendent - Business & Technology
Signed By:  
Dr. Jeanette Cowherd - Superintendent
 
Vote Results:

Original Motion
Member Bart Klein Moved, Member Shereka Barnes seconded to approve the Original motion 'It is recommended that the Park Hill Board of Education approve the 2021-2022 budget amendments and transfers as presented and appoint the Superintendent, Dr. Kelly and Brandy Woodley (Board Treasurer) to assign fund balances and identify commitments of the balances.'. Upon a Roll-Call Vote being taken, the vote was: Aye: 7 Nay: 0.
The motion Carried 7 - 0
   
Janice Bolin     Yes
Bart Klein     Yes
Scott Monsees     Yes
Kimberlee Ried     Yes
Brandy Woodley     Yes
Daryl Terwilleger     Yes
Shereka Barnes     Yes