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Unassigned fund balance falls to 4.69%; DOE FEFP reconciliation still pending
Summary
District finance staff reported an unassigned fund balance of 4.69% as of January, noted pending FEFP calculations from the Florida Department of Education and highlighted recurring COPS debt service obligations.
Ms. Laxton presented the district’s monthly financial report for January 2025 to the Columbia County School Board, saying the district’s unassigned fund balance has declined to 4.69% and that the district is still awaiting final FEFP (Florida Education Finance Program) recalculations from the Florida Department of Education.
Laxton said the 4.69% unassigned balance compares with 5.37% at the end of the last fiscal year and that the district expects further declines as recent raises and payroll changes are reflected in February and March. “The unassigned has gone down, is now at 4.69%,” she told the board.
Laxton noted tax collections are down 0.21% compared with the prior year and that the district maintains about $6.8–$7 million in its half‑cent (local) account. She reminded the board of an annual $5 million COPS debt service payment the district must make and reported that utility costs—electricity and diesel—are up year over year but remain under budget.
Laxton said the DOE has not yet released updated FEFP figures that reflect recent FTE losses; she said state finance officers across districts are likewise awaiting the DOE release and that March is the earliest the district expects to have definitive numbers.
Board member Mr. Hudson asked about interest income; Laxton said general‑fund interest income is expected to decline as the district reduces cash balances and that construction‑related interest is a one‑time fund tied to ongoing projects.
The report was informational; no formal action was taken during the finance presentation.
