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Glynn County BOE reviews December financials: revenues above budget midyear, three small amendments noted
Summary
Finance staff reported three December budget amendments, midyear revenue and expenditure rates, and investment income figures at the Glynn County Board of Education work session on Feb. 6, 2025.
The Glynn County Board of Education received its December financial report at the Feb. 6 work session, with staff saying the district made three small budget amendments and that midyear revenues were tracking ahead of expenditures.
Miss Cody, presenting the financial update, said the board adopted three December budget amendments: a $4,000 increase to record additional CTAE funds for an industry certification grant; a $3,700 increase to record the Georgia Outdoor Learning Demonstration Grant awarded to Altamont Elementary; and a $200,000 increase to federal sources.
Cody reported that, at the fiscal midpoint, general fund revenues were at 71.3% of budget while expenditures were at 45.2% of budget. She also said December investment interest totaled $616,790.04 and that most investable cash was placed in a money market account yielding about 4.27%.
Board members asked no follow-up questions during the presentation.
The report noted that a larger general operating account balance in December is typical because of current-year tax receipts; staff said those receipts are being invested and are producing steady interest income.
