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Board hears financial report: Feb. 28 fund balance $37.4 million; chair cites a clean audit letter
Summary
Tracy presented the district financial report for the period ending Feb. 28, 2026, showing revenues of $56,412,588.10, expenditures of $51,602,690.18 and a fund balance of $37,400,207.60; the chair reported the year‑end audit found no findings.
Tracy presented the Coffee County School System’s monthly financial report, detailing year‑to‑date revenues and expenditures and an ending fund balance as of Feb. 28, 2026.
Tracy reported the fiscal-year beginning fund balance at $32,625,534, total revenues of $56,412,588.10 and total expenditures of $51,602,690.18, for an end-of-February fund balance of $37,400,207.60. She said monthly receipts for the period amounted to $784,713.43 (a one-month lag reflecting January tax receipts).
The chair summarized the audit for year end July 30, 2025, stating a letter accompanying the audit indicated no findings. The chair praised a staff member referenced in the transcript as Bradford for “handling our financial operations,” and said the district has a multi‑year record of finance awards.
The chair asked the board to place the minutes and the financial report on the consent agenda for approval at the regular meeting; no final vote was recorded during the presentation.
The board did not take immediate action during the meeting; the items were to be considered later on the consent agenda.
