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SPLOST-funded Lakeside Middle addition highlighted; finance director reports January 2025 statements
Summary
District communications and finance staff showcased a SPLOST addition at Lakeside Middle School and reviewed January financials, including SPLOST balances, tax-collection rates and investment yields.
Forsyth County Schools staff on Feb. 18 showed the board a SPLOST-funded addition at Lakeside Middle School and reviewed the district’s January 2025 financial statements, emphasizing SPLOST project delivery and cash-management figures.
Dr. Michelle Dugan presented a short SPLOST spotlight video showing the Lakeside Middle School addition built with SPLOST funds; the district held a recent ribbon cutting and said the project preserved students’ placement in the existing school while adding classroom and creative space.
The board was told SPLOST projects are paid cash (the presentation and subsequent remarks stated the projects are funded without additional long-term debt). Dr. Dugan and a board member noted that about 40% of SPLOST consumption-tax receipts come from visitors and nonresidents, which helps fund projects.
Larry Hamill, the district’s finance presenter, reviewed January financials: he said the district began the month with about $335,000,000 in cash and ended the month near $309,000,000; overall collections were tracking close to last year’s pace and property-tax collections were strong. He flagged that TAVT (title ad valorem tax on vehicles) receipts have been slower than prior years and that total collections to date stood at roughly 76.4% of the annual expectation. Hamill said SPLOST 5 is nearly expended and SPLOST 6 held about $17.3 million at the time of the report. He also highlighted that the district’s large treasury deposits were earning about 4.4% interest in the LGIP.
On debt-service accounts, Hamill noted some SPLOST funds were used to reduce debt-service requirements in prior years and that certain debt and OGB account balances were lower than last year’s balances; he said the district expects to collect sufficient revenue to meet upcoming payments.
Board members and staff thanked project teams and construction staff; no new debt authorization or budget amendments were recorded in the public transcript during the presentation.
