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Coffee County School System posts Sept. 30 fund equity of $28.99 million; monthly financials placed on consent agenda
Summary
Finance staff presented the month‑ending Sept. 30, 2025 financial reports showing a July beginning fund balance of $32,625,534; year‑to‑date revenues of $10,206,860.86 and expenditures of $13,825,831.93, yielding an ending fund equity of $28,986,562.93. Board discussed internal controls, completed 2024 audit and timing for the 2025 audit.
Miss Bradford, Finance Director, presented the Coffee County School System monthly financials for the period ending Sept. 30, 2025. She reported a beginning fund balance of $32,625,534 in July; year‑to‑date revenues of $10,206,860.86; year‑to‑date expenditures of $13,825,831.93; and an ending fund equity of $28,986,562.93 as of Sept. 30.
Bradford walked trustees through the detailed functional expenditures and a three‑year comparison showing fund equity trends. She reported wages for September of $822,821 (SPLASH report) and said the district finished the 2024 audit in February 2025 and expects the 2025 audit at year‑end.
Board members asked about internal controls and the district’s fiscal safeguards. Bradford described segregation of duties procedures, authorization and approval requirements for purchases and payroll, timely recording practices, monthly reporting to the board and publication of financials on the district website. She said finance staff meet with the State Department of Audits and Department of Education to remain current on rules and deadlines.
The board agreed to place the financial reports on the consent agenda for the upcoming regular meeting.
