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Maury County schools report December surplus, warn fund balance will be pressed next budget season
Summary
District finance staff reported a strong December property-tax-driven surplus but reminded the board the district withdrew $7 million from fund balance to balance the current year and rising salary obligations will put pressure on reserves during the next budget cycle.
Finance staff told the Maury County Board of Education that district December receipts produced a month-to-date surplus, driven in large part by property-tax collections and stronger sales-tax receipts, but members were reminded the district used $7 million from fund balance to balance the current year.
"Attached are your monthly financials. December is a great month for the school district, because the majority of property taxes, at least half of them have come in in the month of December," Mr. Lucanen (finance staff) said,…
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