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CFO: revenue collections rising after December; district reports routine expenditures and activity-account update
Summary
CFO Amy Smith reported general fund revenue collections through December and reviewed expenditures, capital outlay figures and school activity accounts; she noted a completed capital-collection period (referred to in the transcript as 'SWA A6') and a subsequent renewal ('SWA A7').
Amy Smith, the district chief financial officer, presented the board with the December financial report and a quarterly school activity account update. Smith reported general fund revenue collections through December at roughly 60.9% of budgeted revenue and said property tax collections rose from lower percentages earlier in the fiscal year to "over 84%" after December collections. She reported expenditures at 39.1% of approved budgeted expenditures and stated the district has no debt.
Smith gave specific capital numbers: capital outlay revenue for December of $838,845.40, interest earnings of $693.12, and capital expenditures of $55,152; she said the district's balance in the referenced account was $8,910,294.17. In special revenue funds (federal grants and school food program), she reported collections at about 46.46% of approved revenue and expenditures at about 51.4%.
Smith also said the district's prior capital-collection period (referred to in the transcript as "SWAA6") will end and that a subsequent collection ("SWAA7" in the transcript) has been approved by voters in Pickens County; she noted the transition between collection periods should be seamless. The school activity-account quarterly update reviewed per-school beginning balances, receipts, disbursements and ending balances, a required public disclosure.
