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Hoover City Schools reports 41.5% of budgeted revenue collected as of Jan. 31; general fund reserve equals 10 months
Summary
Finance staff reported the district had received 41.5% of budgeted revenue as of Jan. 31, general fund expenditures at 32.6% and a general fund reserve covering roughly 10 months.
Finance staff told the Hoover City Schools Board of Education that, as of Jan. 31, 2025, the district had received 41.5% of its budgeted revenue for the fiscal year and general fund expenditures were at 32.6% of the budget.
The report recorded a cash figure for the period (presented in the meeting as $13,934,914.13) and noted January cash disbursements of $4,578,665.11. Staff explained that property tax collections for December were recognized in January consistent with the district's revenue reporting timeline and that revenue is expected to continue increasing as additional property tax collections are processed.
Special revenue expenditures were reported at 43.4% of budget for January, consistent with federal program spending patterns and reimbursement timing. Staff also noted December payments for elevator modernization, athletic field upgrades and automotive maintenance as examples of recent capital or maintenance activity.
Board members were asked if they had questions; none were recorded in the transcript excerpt provided. The board approved the related business items after the financial presentation.
