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Petersburg schools report strong year-end position; head start retains carryover funds
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Summary
The district reported fiscal-year 2025 spending and balances across general, grant and head start funds and said it is working with the city to protect remaining cash for capital projects.
PETERSBURG, Va. — Petersburg City Public Schools Chief Financial Officer Mathias Greywood reported to the school board Wednesday that the district is positioned to close fiscal year 2025 with positive balances across operating and grant funds and that district leaders are coordinating with the city on capital funding needs.
Greywood told the board the school division’s city revenue budget for FY2025 was $15.7 million; as of May 31 the district had received roughly $14.73 million, leaving $1.03 million outstanding. The general fund’s instruction object had a budget of $40.44 million with $33.3 million spent to date, leaving about $7.1 million unspent in that category at the reporting date.
Across funds, the division’s FY25 total budget was roughly $97.9 million with expenditures of about $75.16 million, leaving an unaudited balance of about $22.75 million as of the May report, Greywood said. He noted that some encumbrances and invoices will be processed after the fiscal year close and the final figures will be included in the full-year accounting the district will provide in the new fiscal year.
Regarding Head Start, Greywood reported that federal Head Start funding totaling about $1.4 million had been funded to date and the program had expended about $1.15 million, leaving roughly $251,000. He said a non-federal share budgeted at about $350,000 had spent about $310,000 and the combined Head Start fund had approximately $291,000 remaining at the reporting date.
Board members asked how year-end surpluses are handled. Greywood said the city historically has sought to ‘‘claw back’’ net income on the city-side accounting, and the district is working to manage cash and encumbrances so the school system can retain funds needed for planned capital projects. Superintendent Brandy Brown and staff said several construction and capital projects approved earlier will carry work into the new fiscal year and the district is coordinating with the city to preserve those funds.
Greywood and the superintendent said the district will bring a full-year closeout report in the new fiscal year and continue working with the city on flexibility for capital project invoicing and payments.
