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Unaudited results show Beaufort County schools projecting $7M addition to fund balance, reaching 21% reserve
Summary
Finance presented an unaudited FY25 quarterly report showing revenues near projection, modest underspending, a projected net increase to fund balance of roughly $7 million and continued high credit-rating stewardship including a recent bond refunding.
At the Sept. 18 finance committee meeting, district finance staff presented an unaudited quarterly financial summary for fiscal 2025 showing the district near revenue projections and underspending on expenditures. Staff estimated total revenues at about 100.6% of budget and total spending at roughly 99.3%, producing a projected net addition to fund balance of approximately $6.9–$7.1 million.
CFO Crosby summarized the key drivers: local tax collections were close to expectations, state aid to classrooms…
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