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Tuscaloosa City Schools reviews December finances, board hears first reading to lower reserve policy
Summary
Board received a financial recap through Dec. 31 from CSFO Jay Duke and held a first reading of a proposal that would lower the district's board policy reserve target from 1.75 months to 1.25 months while keeping the state-required one-month minimum.
The Tuscaloosa City Schools Board on March 18 received a financial recap through Dec. 31 and discussed a first reading of a proposed revision to Policy 3.02 that would lower the board's reserve target from 1.75 months to 1.25 months while retaining the state-required one-month minimum.
Chief School Financial Officer Jay Duke presented the financial report, saying the district is roughly 25% through fiscal year 2025 and that December and January are the largest months for property-tax collections. "Those bills go out Oct. 1 and are due Dec. 31," Duke said, and he said total receipts are tracking close to the roughly $33.5…
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