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School officials report year-end budget adjustments and project stronger fund balance than expected
Summary
Finance staff presented year-end amendments across state, local, federal and capital funds, reported an estimated fund-balance carryover of about $2.6 million and projected the district's fund balance to land near $4.3 million (5.5% of operating funds) after using an estimated $1.5 million.
Granville County Schools finance staff presented a year-end financial update and a package of budget amendments covering state, local, federal and capital funds; the board approved the amendments and a resolution allowing the superintendent to sign any final year-end adjustments required before June 30.
Key actions: The board approved budget amendments reflecting a $40,844 increase to state funds, a $394,521 decrease to federal-grant budgets (largely due to reversion of unused 21st Century Community Learning Center funds), and a reduction in capital outlay categorical funds of roughly $1,500,000 to reflect the county allocation, bringing capital outlay to about $4,200,000.
Why it matters: Staff reported the district originally allocated $4.1 million of fund balance for the year but now expect to use approximately $1.5 million of that amount; the portion of fund balance not used this year remains in the general fund and the presenter estimated remaining budget availability of roughly $2.6 million. Staff estimated the fund balance will land at about $4.3 million, or 5.5 percent of operating funds, a marked improvement from prior projections that had suggested a much smaller reserve.
Where savings came from: Staff highlighted several contributors to improved fiscal results: transportation route changes and elimination of special shuttle routes produced about $485,000 in savings; lapsed salaries contributed about $980,000; departmental reductions from 0-based budgeting produced roughly $780,000; and the district absorbed about $524,000 of expenses previously expected to be funded from capital outlay. Staff credited consolidated operational changes, vacancy management and careful departmental control for the results.
Other points: The presenter said a federal safety grant awarded in the spring must be spent by June 30, creating urgency to obligate funds; supply-chain delays have slowed some procurements but staff will prioritize critical safety projects. The board approved a resolution authorizing Dr. Winborn to approve any final year-end budget amendments required by June 30; Dr. Winborn will provide an informational update to the board at the August meeting after signing any final changes.
Board action: A motion to approve the budget amendments was moved by Miss Russell, seconded by Miss Anderson and carried. A separate motion by Miss Anderson, seconded by Miss Ward, authorized the superintendent to approve final year-end amendments and carry those items to the August meeting as informational updates.
What to watch: Staff will continue closing the year and completing the audit (auditor in the building), with final audited results expected in the fall. The board will receive final budget and audit documents after state budgets and the district audit are complete.
