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Finance department wins bond certificate of excellence; CSFO presents January financials showing flat sales tax and planned bus purchases
Summary
Board received a digital assurance and bond certificate of excellence for the finance department and heard a financial report through Jan. 31 covering revenue trends, a flattening of sales tax, planned purchases of approximately 49–50 school buses at about $138,000 each, and annual debt service of about $10–11 million.
Tuscaloosa City Schools board members presented the district finance and accounting team with a digital assurance certificate and a bond certificate of excellence in recognition of an audit with zero findings, then heard a financial update from Chief School Financial Officer Jay Duke.
"From one championship team that we just recognized a few minutes ago to another championship team — the finance and accounting department," Duke said. He described the department’s responsibilities and cited the district’s operating scale: about 1,600 employees and 11,000 students, and a roughly $190,000,000 budget.
Duke presented financial statements through Jan. 31, the fourth month of the fiscal year (33% of the year). He said property-tax receipts are concentrated in December and January and that car-tag and sales-tax receipts are tracking slightly above the prior year but that sales tax shows a flattening trend. Duke cited the state’s SSUT (state-shared/online sales tax) issue and said online sales taxes currently do not flow to the district, which contributes to long-term revenue concerns.
On expenditures, Duke said overall spending is slightly below budget at the reporting point, largely because planned purchases of school buses have not yet posted. He said the district expects to purchase roughly 49 or 50 buses at about $138,000 apiece; buses began arriving the week of the meeting and will increase transportation expenditures as purchases complete.
Duke also noted annual debt service of about $10–11 million tied to prior capital project borrowing. He said there are no major capital projects currently with large draws on the capital projects fund.
Board members thanked the finance team for the audited results and for day‑to‑day work that supports district operations. No new budget actions were taken at the meeting.
