Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Finance Report topic
No spam. Unsubscribe anytime.
Forsyth County Schools finance director reviews May 2025 statements; staff adds new graphs for board
Summary
Finance director Larry Hammel presented May 2025 financial statements, showed new visual graphs, and said the district’s collections and expenses are generally tracking near budget; staff noted cash, investments and capital project balances and explained seasonal cash flows tied to tax collections.
Larry Hammel, the district’s finance presenter, reviewed the May 2025 financial statements and introduced new graphical displays intended to make cash‑flow and budget comparisons clearer for board members and the public.
Hammel said the district began May with roughly $236 million in cash equivalents and presented month‑by‑month cash and fund‑balance trends that generally decline in summer months before property tax receipts arrive in the fall. He said the district is tracking revenue collections at about 94.99% of the revised budget and reported $601 million in cumulative collections against a revised budget figure of $717 million. On expenses, he said the district had spent roughly 91.19% of budgeted amounts through May and noted that payroll is the dominant monthly expense.
Hammel reviewed capital and special‑revenue fund balances: he said the district reported about $25 million in total capital projects this year versus about $15 million at the same time last year, and school nutrition balances were about $21.5 million compared with $23.8 million last year. He reported an “investment summary” figure of about $134 million held in the general fund and flagged that the district typically moves $26–30 million monthly from investments into operations as the new fiscal year approaches.
Hammel told the board that collections year‑to‑date were roughly $187 million compared with about $179 million at the same point last year, and that current trends put the district only about $900,000 ahead of schedule for the last quarter. He said small changes in late‑year collections could change how many months the district is able to prepay ahead for next year’s obligations.
Board members thanked Hammel for the graphs and said the visuals help the public understand timing issues tied to tax receipts and payroll. Hammel said his cash‑flow model uses 10 years of historical monthly data to smooth highs and lows when projecting collections by month.
The financial presentation was informational; no board action was required.
