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Board reviews January financials and FY24 audit finding; fund balance described as roughly four months of operating expenses
Summary
Finance staff presented Jan. 31, 2025 financials showing an ending fund balance of $36,569,460.01 and revenues of $48,982,370.67; auditors reported one deficiency related to an ROTC invoice that should have been recorded in FY24 but was paid in FY25.
The Coffee County Board of Education reviewed financial reports for the fiscal year as of Jan. 31, 2025, and received the district’s FY24 audit exit review during its Feb. 27, 2025 work session.
Finance staff member Miss Bradford summarized the financials, saying the district began the fiscal year with a fund balance of $29,653,557.59 and had an ending balance as of Jan. 31 of $36,569,460.01. Bradford reported…
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