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DPSCD finance report: $15M Cooley allocation, $7M for Davis Aerospace and operating cash updates
Summary
CFO reported October finances: ~$9M received on 13 mills, supplemental payments and interest-only payments noted, and newly received one-time state allocations for Cooley ($15M) and Davis Aerospace ($7M). Board discussion acknowledged legislative help and next-step facility planning.
The district's chief financial officer reported October financials to the board, including local millage receipts and recent state appropriations tied to facility projects.
Key numbers: The CFO said DPSCD received approximately $9,000,000 from the 13-mill levy and roughly $2,500,000 on the operating millage in the reporting period, and that a one-time interest-only capital debt payment of about $23,000,000 occurred in October. Year-to-date balances and supplemental payments were discussed, and the CFO reported ending the month with roughly $23,000,000 in available cash (reported as "23 21 weeks" of available cash in the presentation).
Facility allocations: The district reported receipt of $15,000,000 in state funds for the Cooley facility project and an additional $7,000,000 allocation to support Davis Aerospace's move back to the airport. The CFO said those allocations were not yet on the October report but were received by November.
Expenditures and vacancies: Personnel costs remained below projections (the CFO attributed some of that to not fully implementing union agreements) while contracted services were also slightly under forecast. The superintendent and board discussed staffing vacancies across the district (teacher vacancies, special education positions, cafeteria and custodial vacancies) and the district noted ongoing hiring efforts, including about 40 additional K–2 teachers funded from the literacy lawsuit for smaller class sizes.
Board discussion: Board members publicly thanked state legislators and local caucus members who supported the appropriations. The superintendent said the Tuskegee Airmen partnership supported Davis Aerospace returning to the airport and reminded the board that the district is completing a transfer into the facility master plan that was previously approved.
Outcome: The CFO concluded the report and board members had an opportunity to ask questions; the board accepted the superintendent report that included finance discussion at the conclusion of the superintendent's remarks.
