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District says tax and grant inflows remove need for TAN; budget amendments added
Summary
Finance reported unexpected tax and grant inflows that removed the need for a previously discussed tax anticipation note (TAN); the board was briefed on monthly general fund figures and approved budget amendments to record $49,777,288 in awarded grants and a $10,952 reimbursement for a Teacher of the Year gala.
Finance director Ramona Bivens presented the monthly general fund comparison as of Oct. 31, 2025, and reported that revenue permitting for the period is primarily state revenue. Bivens said the district received approximately $15,000,000 from the tax commissioner's office and an additional $13,800,000 in federal grant reimbursements, and that the State Board of Education is releasing QBE funds earlier than anticipated; taken together these inflows removed the immediate need to execute a Tax Anticipation Note (TAN) for cash flow purposes. Staff said because the TAN was not executed, there are no lender fees to pay.
Bivens also presented two budget amendments: to record actual awards for federal grants from the Georgia Department of Education totaling $49,777,288 for the fiscal year, and to reimburse the community engagement department $10,952 for Teacher of the Year gala expenses. Board members asked questions about timing, revenue sources, and expectations for the FY'25 audit; staff said they are preparing FY'25 audit work and monitoring findings.
Chair and board members expressed relief that the TAN was not needed given early receipts and urged continued careful cash-flow monitoring as the district moves through winter tax collections.
