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Board reviews December financials; staff flags roughly $19 million in federal grants and reimbursement timing
Summary
The district presented November–December financial statements showing about six months of general-fund reserves and discussed exposure if federal funds are delayed or reduced; staff said budgeted federal awards total roughly $19 million (excluding certain reimbursements).
Huntsville City Schools presented cumulative financial statements for November and December and discussed fund-balance position and the district's reliance on federal funding streams.
Staff said December represents roughly 25% of the fiscal year, with receipts at about 37% of budgeted revenues and expenditures at about 22% to date. The presenter stated the district had cash and investments of approximately $198.5 million and a general-fund balance…
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