Conway School District reports $3 million increase in Oct–Nov tax receipts, fund balances up $4.5 million

The Conway School District’s financial report at the board meeting detailed a year-over-year increase in local tax receipts and a near-term growth in fund balances. Mister Hickenbottom told the board that tax receipts for October and November were $28,000,000 this year compared with $25,000,000 in the same two-month period last year, reflecting an approximately 10% increase in assessed values. He said the district’s fund balances grew by $4.5 million last month and are $1,900,000 above the same month a year ago.

Hickenbottom noted expenditures have been heavy on the salary side in the second half of the year and cautioned that revenues and expenditures typically smooth out in the spring. When a board member asked about a negative balance and a debt-service item, Hickenbottom explained it was a fee paid to a bondholder that had not yet been transferred between funds; the district customarily transfers revenue from operating to debt-service funds as part of routine accounting.

Following the presentation there was a motion and second to approve the financial report, and the board voted in favor.

The financial presentation framed the district as currently ahead on revenues and working through timing and salary-driven expenditures; no specific new budget reallocation or bond action was proposed at the meeting.