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Pine Bluff School District reports year‑end revenues, bond interest and $31.9 million spent on new high school
Summary
Superintendent Martin reported the district received $26,362,309 in local tax revenue for the year and said the state issued $922,000 to restore the district's guaranteed collection rate; bond proceeds have earned about $3.3 million in interest and $31,883,556 has been spent so far on the new high school.
Superintendent Martin reported to the Pine Bluff School District Board that the district received $26,362,309 in local tax revenue for the fiscal year and that the district had budgeted revenue based on a 94% collection assumption.
"In June we received about $1,400,000 of the last of our tax dollars," Superintendent Martin said. He told the board the state issued a payment of $922,000 to shore up the foundation funding after the district's local collection rate did not reach the 98% guarantee. "So we're good as far as that goes," he said.
Martin walked the board through the monthly reports, the bank register and the bond proceeds register. He said the district's bond money earned approximately $3.3 million in interest while held in the bank across two fiscal years. He also reported that the district has recorded $31,883,556 in expenses so far for the new high school project.
The board voted to approve the financial report as presented. The superintendent noted the district is now in its period 13 cleanup for federal grants and other year‑end adjustments.
Why it matters: The numbers discussed determine the district's operational flexibility for staffing, federal program continuation, and the ongoing capital project. Federal funds tied to programs such as 21CCLC and Title IV were reported as released to the district and will be used for budgeted programming.
What board members asked: Directors requested clarification on collection assumptions, how the state payment was calculated, and details of the bond proceeds register; the superintendent pointed members to the board packet for itemized debits and credits.
Context: Martin said the district had budgeted based on a 94% collection rate and that state adjustments made up the shortfall to meet the statutory guarantee. The board was given the standard monthly financial packet, a period‑12 summary of revenues and expenditures, and bank registers showing a continued zero variance.
Next steps: The superintendent will continue period 13 clean-up work, and staff will return financial detail as requested in future board packets.
