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Shelby County schools report $5 million surplus, federal grant spending and capital investments in audit briefing
Summary
District finance staff told the board that general fund revenues exceeded expenditures by about $5,000,000, federal grant spending totaled $10.7 million last year (roughly $2.1 million from COVID relief), and capital assets rose $3.4 million; the auditor issued an unmodified opinion.
District finance staff and the auditor briefed the Shelby County Board of Education on multiple financial metrics and the audited financial statements. Speaker 5, who presented the financial highlights, told the board that ‘‘our revenues did exceed our expenditures by about 5,000,000.’’ The presentation said the district’s committed fund balance remains $1,800,000 and that roughly $10,700,000 was spent from federal grants…
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