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Savannah R-III reports year-to-date deficit, expects county revenue in January
Summary
District officials told the board the year-to-date numbers show a negative variance of $2,933,883 but said maturing investments and expected county revenue in January should restore the district’s cash position; revenue collected and spending percentages were provided.
A district presenter reported that Savannah R-III is carrying a year-to-date negative variance of $2,933,883 but expects county revenue to arrive in January, which staff said should restore normal cash flows.
The presenter said the district has been drawing on investments during the low-revenue months, and noted maturing investments will be reinvested. To date the district has collected about 22.32% of budgeted revenue and recorded about 29.56% of budgeted expenditures, which the presenter described as a roughly 9.6% reduction in spending year to date. The presenter also said overall revenue is down about 3.4% compared with expectations but that the district remains "on track" once county distributions begin.
Board members asked clarifying questions about assessment and state reporting alongside the finance update; no formal budget action was taken at the meeting.
