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Preliminary fiscal-year report: district collected 95.6% of revenue, used less fund balance than planned
Summary
The board received a preliminary, unaudited financial report showing the district collected 95.6% of budgeted revenue through June 30 and spent more than revenue, reducing fund balance use relative to budgeted estimates.
At the July 28 work session, Clayton County Public Schools staff presented a preliminary, unaudited financial report for the fiscal year ending June 30.
The presenter told the board the district collected 95.6% of its projected revenue, reporting approximately $676,200,000 received against a budgeted figure the presenter summarized as about $707.5 million. The presenter said district spending totaled about $704,300,000, exceeding receipts by roughly $28,000,000. The presenter reported the district had budgeted to use $32,300,000 of fund balance but ultimately used about $28,000,000.
The presentation also included a one-month-lag update on SPLOST (local special-purpose local-option sales tax) revenue: the district reported receiving $5,791,032 for the month of June (collected in May). Board members received the purchasing reports for purchases above thresholds and were told staff are available to answer questions about ongoing projects. The presenter said the tax digest had been received that day and that advertisement deadlines for required hearings were being prepared.
The presenter cautioned that the financial report is preliminary and unaudited. Board members had no follow-up questions during the session; the presenter said additional details would be provided in forthcoming communications and public notices for hearings as required by statute.
