Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Financial Statements topic
No spam. Unsubscribe anytime.
Huntsville City Schools approves December financials, reports $51.3 million positive operations
Summary
At a Feb. 24 work session the Huntsville City Schools board reviewed and approved December 2025 financial statements showing positive operations of $51,280,319, roughly 7½ months of reserve, and anticipated capital funding from a $75 million city bond offering.
Huntsville City Schools reviewed and approved its December 2025 financial statements during a special work session at the Feb. 24 Board of Education meeting, with district finance staff reporting positive operations for the year of $51,280,319.
The presentation showed total assets of about $252.5 million, ongoing liabilities around $30.27 million and total fund equity near $222.3 million, which the presenter said translates to roughly "7 and a half months of fund balance in reserve." The board approved the fiscal statements by voice vote.
The finance staff member told the board the district had received approximately 36.5% of its budgeted revenues and incurred about 22% of budgeted expenditures through December. "We've incurred about 22% of our budgeted expenditures, leaving us positive operations for the year at $51,280,319," the district presenter said. He also noted personnel costs were tracking close to budget because the district was "about as fully staffed as we ever have been in those 5 years."
Board members asked about next year's health insurance contributions. The presenter said the district's per‑person allocation rose from $800 last year to $904 this year and is budgeted at a minimum of $1,087 for next year, with a legislative outcome potentially pushing that figure as high as $1,300.
The presenter also walked the board through cash and investment figures and a monthly projection that peaks in December and trails down throughout the year. He reported about $53,430,986 of the cash balance is attributed to the general fund in the financial statements and said anticipated IT device refreshes and infrastructure projects will reduce reserves later in the fiscal year.
On capital funding, the presenter said the City is expected to go to the bond market to provide approximately $75,000,000 toward the district's capital plan; several projects are already bid and others will be put to bid throughout the year.
The board approved routine action items that followed the financial presentation, including the consent agenda, human resources report and professional services agreement report. The meeting adjourned after the board completed agenda business.
