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Burke County schools report half-year finances; revenues to increase when property-tax digest posts
Summary
The district finance officer reported the system is roughly 50% through the fiscal year with revenues of $8.9 million and expenditures of $34.6 million as of Dec. 31, 2024; the board approved the report unanimously.
Burke County’s finance officer presented the December 2024 financial report on Jan. 21, saying the district was about 50 percent through the fiscal year and that revenues and expenditures are tracking appropriately ahead of the property-tax digest posting.
Key figures: Revenues as of Dec. 31, 2024 were $8,896,303; total expenditures were $34,591,972 (45.88% of the budget). The general-fund balance sheet showed total assets of $210,562,300 and equal liabilities and fund equity. Investments across funds were about $200,837,124.51 as of Dec. 31, 2024; staff noted the district uses Georgia Fund 1 to hold digest-derived revenues because it typically pays a higher interest rate and provides liquidity for payroll and cash needs.
Board action: The board voted unanimously to approve the financial report after a brief question about an unusual expenditure that staff said would be clarified in closed session.
Context: The finance officer highlighted that revenues typically “jump tremendously” after calendar-year taxes and the digest post; purchase-order encumbrances were declining as expected for this point in the fiscal year.
