July 11, 2012



To:      Members of the Comprehensive Financial Monitoring Task Force

From:  John Wall  

Re:      May Financial Status Report

            The May FSR is now available for viewing Financial Status Report, printing (May FSR) or downloading at Excel format.

This report includes an update to the Departmentís current modified budget which has been adjusted to reflect the approval of the January Financial Plan (MN-3) and revenues through the end of April. Additionally, a summary of the Executive Budget is reflected on page 4.  

This month, we are providing an update to the Departmentís first fiscal analysis which was presented in the March FSR. Expenditure projections have been compared to an adjusted budget which includes pending Executive Budget actions and anticipated budget modifications and revenues. On a net basis, the analysis resulted in a minor operating deficit of approximately ($3m.).  

Over the next few months, we will continue to refine the expenditure and revenue forecasts for the year-end close which will be reflected in the October FSR.  

Thank you.


c:       Dennis M. Walcott

         Chancellorís Senior Staff    

         Division of Financial Planning & Management Senior Staff


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