Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Forsyth County Schools financial report shows slight revenue shortfall; board accepts audit corrective-action plan
Summary
District finance staff reported April financials showing a shortfall in title ad valorem tax receipts tied to vehicle registrations and the board voted to accept the FY24 audit corrective-action plan that placed the system on the state's moderate-risk list.
Forsyth County Schools financial staff reported April 2025 cash and revenue figures to the board and said district officials will submit a corrective-action plan to the state following an FY24 audit finding that placed the district on the state’s moderate‑risk list; the board voted to accept that plan.
Larry Hamill reviewed April statements and said the district began the month with roughly $258,000,000 in cash and closed the month near $235,000,000. He told the board that district revenue collections year-to-date were at 89.92% of budget compared with 91.66% at the same point last year and identified the title ad valorem tax as the primary driver behind the variance.
"The…
Already have an account? Log in
Subscribe to keep reading
Unlock the rest of this article — and every article on Citizen Portal.
- Unlimited articles
- AI-powered breakdowns of topics, speakers, decisions, and budgets
- Instant alerts when your location has a new meeting
- Follow topics and more locations
- 1,000 AI Insights / month, plus AI Chat
