|November 09, 2005|
Enclosed for your review is the final Financial Status Report for FY2005. Included in this report are final budget, expenditure and headcount data, along with historical year-end charts. A snapshot of the FY2006 budget and year-to-date expenditure condition is also included.
The Department anticipated closing FY2005 with a minor operating surplus of $1.8 million. However, shortly before the close deadline, additional estimated accruals of $55.6 million, resulting from the recent UFT settlement, were included in the Departmentís expenditures. As a result, the Department closed FY2005 with an operating budget deficit of ($53.8) million.
The next FSR update to FY2006 will be issued in early December.
|Joel I. Klein Chancellor's Senior Staff Division of Budget Operations and Review Senior Staff|
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