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Forney ISD finance update: district reports near-complete tax collections; TEA funding projection shows potential overpayment
Summary
District staff reported fiscal-year-to-date revenues and expenditures, high tax-collection rates and a Texas Education Agency projection that may result in an overpaid state funding balance; the district said it will record any overpayment as a liability.
John Chase, who presented the district's monthly financial report, told the board the general fund had received $151,000,000 in revenues and expended about $156,000,000 through the February reporting period (eight months into the fiscal year). Tax collections were cited as the largest revenue item for February, totaling $13,000,000; Chase said the district has collected roughly 97% of its tax levy to date.
Chase said the district's cash and investment report showed cash on hand across the general fund, food service, debt service and capital projects of about $23,037,000 at the end of the month.
Why it matters: The report frames the district's…
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