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May financial report: 98.3% of budgeted tax revenue collected; district advanced technology purchases ahead of state funding
Summary
District finance reported 98.3% of budgeted tax revenues collected as of May 31, 2025, and noted advanced purchases of interactive panels, intercoms and Chromebooks (about $750,000) that will be reimbursed from the state's 2025 advancement technology allocation expected in July/August.
Vestavia Hills City Schools reported to the board on June 23, 2025, that as of May 31 the district had collected 98.3% of its budgeted applicable tax revenues, compared with 106.3% at the same point the prior year. Finance staff reported $133,091 in interest income for May. General fund expenditures and transfers were at 72.7% of budget at the eighth month of the fiscal year, higher than the expected 66.67% point, which staff attributed primarily to advanced purchases for technology.
District staff said they authorized approximately $750,000 in advanced purchases for interactive panels, intercom systems and Chromebooks to ensure teachers and students have equipment in August. Those expenditures will be reimbursed from the state’s 2025 advancement technology (A&T) allocation when those funds arrive in July/August. Staff further stated all bank accounts had been reconciled as of May 31 and monthly financial statements and check registers are available on the district website.
The board voted to approve the financial statement by voice vote. Staff recommended and the board approved reimbursement procedures and continuing monthly reporting.
Ending: Finance will reconcile reimbursements from A&T funds when received and continue monthly reporting; the district noted Chromebooks were expected to arrive in June.
