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George County school board reviews clean FY25 audit, raises minimum fund-balance to 14% and approves pay supplement changes
Summary
The board accepted a clean FY25 audit, approved policy changes including raising the minimum assigned fund balance from 7% to 14%, and adopted salary-schedule adjustments and supplements for certified staff, while also awarding routine contracts and approving surplus and donation actions.
The George County School District board accepted the district’s FY25 audit, approved several policy changes and adopted salary-supplement adjustments at its regular meeting.
The board’s finance director presented the audit, saying the district earned a “low risk” federal designation and that auditors reported no material weaknesses or significant deficiencies. The presentation showed FY25 total revenue of about $49.9 million and total expenses of about $52.66 million, with an unassigned general fund balance of roughly $11.8 million and total fund balance of $20.5 million.
Board members focused on reserves and borrowing capacity. The board approved a change to policy BGA to raise the minimum assigned fund balance from 7% to 14%, citing recommendations from finance advisors that a 14% reserve is a stronger position for loan underwriting and fiscal stability. The finance director said the larger target helps preserve a healthy reserve while the district moves forward on capital projects.
The board also approved salary schedule revisions and one‑time or ongoing supplements that reflect a $2,000 state-influenced increase for certified staff and additional local supplements for teacher assistants and other certified positions. The superintendent told the board the district will monitor what the state does with its formula funding (MSF) to determine whether local millage adjustments will be necessary.
Other finance-related actions approved by voice vote included awarding a three-year audit contract to Joel Cunningham (audit services), accepting a single timber-sale bid from Raymond Reette Timber LLC, authorizing a surplus-property resolution to solicit bids on retired equipment, and ratifying claims and payments presented in the claims docket.
The board approved the donation of two modular buildings from Singing River Services; staff will assess the units and place usable assets on the books while disposing of structures that require demolition or major repair.
The board’s decisions followed a review of monthly financial statements and project balances, including $90,000 set aside for playground upgrades across elementary campuses and a construction-in-progress balance tied to culinary/CTE facilities still under final closeout. The finance director emphasized the audited net pension liability is an actuarial reporting item rather than newly incurred local debt.
The meeting adjourned after routine business; the board directed staff to return with any follow-ups needed on projects and contracts.
Outcome: approved actions included the FY25 audit presentation, policy BGA fund-balance increase to 14%, salary-schedule and supplement changes, awarding of audit and timber contracts, surplus resolution approval, and acceptance of modular building donations.
