Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Education Budget topic
No spam. Unsubscribe anytime.
Cobb schools report Q1 FY2026 finances; SPLOST 6 collections $152.9M through Sept.
Summary
Chief financial officer David Baker told the board the district collected $291 million (18% of budget) through Sept. 30 and had obligations of $429 million (25% of budget); SPLOST 6 collections totaled $152.9 million Jan'Sep 2025 and interest income across funds was about $6.6 million for the quarter.
David Baker, the district's chief financial officer, presented the Cobb County School District's first‑quarter financial report for fiscal year 2026 at the board's Nov. 13 work session.
Baker said the district had collected roughly $291,000,000 in budgeted revenues through Sept. 30 (about 18% of the annual budget) compared with 20% at the same point last year; expenditures or obligations stood at about $429,000,000 (25% of budget), in line with typical first‑quarter pacing. He noted most property tax revenue is collected in October and will appear in the next quarterly report.
On investments and cash management Baker reported total interest income across funds of about $6,600,000 at an average return of 4.28% (down from about 5.17% the prior year), and he said the finance team complies with Georgia's investment code for governmental entities.
Baker highlighted SPLOST 6 performance: actual collections of $152,900,000 from January through September 2025 and explained that the district monitors trends in sales tax collections; online sales remain an important factor in year‑to‑date performance. Board members asked how SPLOST projections are produced, whether they incorporate inflation and when SPLOST 7 projection work begins; Baker said projections are made in advance of a referendum and inflation assumptions are taken into account.
Board members also asked about the district's ability to reconcile or track state remittances; staff said the district relies on state accounting and audits but will include collection updates in subsequent reports. Baker said the comprehensive quarterly report (and a presentation) will be posted online for public review.
