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Finance director: general fund fell by $8.2M last year but district remains above state fund-balance threshold
Summary
Cabell County Schools’ finance director told the board the district’s general fund fell by about $8.2 million last fiscal year but, after accounting for encumbrances, the fund-balance ratio remained about 23.3%, above the state’s 16.6% threshold.
Finance director Mister Ogden presented the district’s annual financial statements and a shorter handout summarizing the general-fund fund balance and near-term pressures.
Ogden explained the difference between GASB-based statements and operational budget views and highlighted restricted balances: a bond fund balance he cited at roughly $5.6 million and a capital projects balance of about $23.9 million. He reported local property-tax receipts of about $61,000,000 and…
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