May 26, 2006

To:      Members of the Comprehensive Financial Monitoring Task Force 

From:  Susan Olds

Re:      April Financial Status Report

 Enclosed for your review is the April Financial Status Report (FSR).  This month, the FSR includes a summary of the Departmentís second fiscal analysis for the year.  Also included in this report are updates to the operating expense and revenue budgets which reflect the January Financial Plan and subsequent State and Federal modifications.  

On an overall basis, the Departmentís expenditure projections are aligned with the anticipated budget, which incorporates a net increase of $63.6 million of City funds for needs primarily associated with labor agreements, fringe benefits, pupil transportation and special education pre-kindergarten and school-age programs.  Over the next few months, DOE staff will collaborate with OMB to refine the fiscal projections on a unit of appropriation basis.   

The next FSR, scheduled to be released at the end of this month, will include updates from the Mayorís Executive Budget.  

Thank you.

c:      Joel I. Klein 

         Chancellorís Senior Staff    

         Division of Budget Operations and Review Senior Staff

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