Finance director reports November revenue, SPLOST receipts and clean audit for year ending June 30, 2025
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Summary
The district reported November revenues of $45.7 million, expenditures of $15.8 million, a fund balance of $53.8 million (about two months of operating expenses), SPLOST receipts of $1.9 million, and a clean audit for the period ending 06/30/2025; staff also described a proposed SPLOST 7 bond timeline that could close in May if the board approves.
Belene Wolfe, the district finance director, presented the November financial report and related items to the Carroll County Board of Education.
Key figures presented: November revenues of $45,700,000, expenditures of $15,800,000 (comparable to the same period last year), and a fund balance of $53,800,000, which staff said covers roughly two months of operating expenses. SPLOST receipts for the period were reported at $1,900,000 with November SPLOST expenditures of $61,600 and a balance for scheduled SPLOST 6 projects of $11,600,000.
Staff discussed planning for SPLOST 7 projects and described a proposed bond issuance timeline that would begin next month and, with board approval, could allow for a bond closing in May to finance SPLOST 7 projects. Wolfe also announced the district received a clean audit for the period ending June 30, 2025 and thanked business and facilities staff for their work.
The finance director described a regulation update (JED R1) to reflect a state law change (House Bill 137) that raised the public‑works bidding threshold from $100,000 to $250,000 and removed a hard‑coded reference to Georgia procurement registry dollar values so the regulation would not require editing if state thresholds change.