April 20, 2007


To:      Members of the Comprehensive Financial Monitoring Task Force 

From:  Susan Olds  

Re:      March Financial Status Report

The March Financial Status Report (FSR) is available for viewing at Financial Status Report, for printing (March FSR) or downloading in Excel format.  This report includes updates to the current operating budget, which has been adjusted to reflect the November Financial Plan, and revenue modifications through late March.   

Featured in this report is a summary of the Departmentís second fiscal analysis.  Expenditure projections have been compared to an adjusted budget which includes the pending January Plan, anticipated revenues and school rollover funds of ($9) million to FY2008.  On a net basis, the Departmentís fiscal review results in a minor projected deficit of ($1.4) million.  Since there are several months left before FY2007 closes, the Department will continue to refine these expenditure projections to ensure that the fiscal year ends in a balanced condition. 

            The next FSR, scheduled to be released in May, will include updates based on the Executive Budget.   

            Thank you. 

     c: Joel I. Klein                                                                                           Chancellor's Senior Staff                                                                                 Division of Budget Operations and Review Senior Staff
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