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Paulding County schools report near-budget year, SPLOST 6 funds nearly exhausted; series 2025 bond issued
Summary
The Paulding County School District reported close-to-budget results for fiscal year 2025, noted SPLOST 6 collections near conclusion, and said the district issued a 2025 bond to fund new schools and renovations.
The Paulding County School District reported on its fiscal 2025 quarterly financial results at the Aug. 19 board meeting, saying revenue and expenditures finished the year within one percentage point of budgeted amounts and that SPLOST 6 collections are projected to end in September.
The district——hief financial officer, Anna Durham, told the board the general fund showed a 1.2 percent variance to budget on revenue and a 0.9 percent variance on expenditures, and that the district——und balance covers about 1.7 months of expenditures. Durham noted the special revenue fund includes grants and the school nutrition program and that the district had 36 grant awards over $10,000 totaling roughly $64.8 million for the year.
Durham said SPLOST 6 collections are projected to conclude in September, nearly a year earlier than originally expected, with SPLOST 7 collections beginning in October. She listed capital projects funded by SPLOST 6 in fiscal 2025, including two new schools (Crossroads Middle School and Elementary School No. 20), additions at North Paulding High School and Northside Elementary School, and renovations at four elementary schools, Moses Middle School and South Paulding High School.
The district reported three outstanding bond series with $131.6 million of principal remaining. Durham said the 2014 series has been paid off and that the district issued a new series 2025 bond; the superintendent and staff said the 2025 bond will help fund Elementary School No. 20, renovations at Dallas Elementary and South Paulding High School, athletic multipurpose buildings, and field turf and lighting.
Durham also said the school nutrition program finished the year with about five months in reserve and that indirect cost reimbursements from grants to the general fund totaled roughly $1.3 million. The quarterly packet also includes supplemental reports on position control, purchasing, budget adjustments over $100,000, grants and donations under $50,000, asset disposals and encumbrances.
Superintendent Barnett encouraged board members and the public to review the full quarterly financial report posted with the Aug. 19 agenda for detailed tables and schedules.
The board did not take a separate roll-call vote on the quarterly report at the meeting; the report was presented as information during the business section of the agenda.
