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Madison County board hears finance report as teacher pay and fund balance surface in public comment
Summary
The Madison County Board of Education reviewed April financials showing a reconciled balance of $120.6 million and discussed how a reported $51.1 million fund balance is allocated; a union representative urged the board to invest some funds in educator raises totaling roughly $9 million annually.
Mark Woods, who presented the district's monthly financial report, told the board on Monday that the district's reconciled balance as of April 30 was $120,569,363.24 and that $36,999,434.73 of that is in investments. He walked the board through how restricted and committed funds -- such as SBDM carryover, sick-leave liabilities and future construction commitments -- affect what money is available for operations.
"Numbers themselves do not lie," Woods said, explaining why some publicly circulated percentages about the general fund balance were misleading and why different comparisons produce different percentages. He told the board an amount widely reported as 52 percent of the budget reflected different bases, and he provided the district's budgeting math to clarify the district's actual unrestricted and committed balances.
Woods warned that a recent union proposal to increase pay would cost the district about $9,150,000 a year when steps and fringe benefits are included. "When you make commitments to payroll, it is perpetual," he said, urging caution so the district does not deplete contingency and committed reserves.
Board members approved the monthly financial reports and the fiscal-year 2027 site-based allocations after the presentation. Motions to approve the reports were made and seconded on the record; votes were recorded by voice as "Aye." The board also approved a contract for the district's finance auditors.
During public comment later in the meeting, Susan Senter, speaking for the teachers' association, urged the board to use a portion of the district's fund growth to help recruit and retain staff. "Our fund 1 balance has grown from $18,000,000 to $51,000,000 in seven years," Senter said. She requested a $5,000 across-the-board increase for certified employees and $3 an hour for classified staff, noting the district estimate for those increases would be about $9 million annually.
Senter acknowledged that some funds are earmarked or restricted but asked the board to consider using investment earnings and portions of unrestricted balances to support recruitment and retention. Board members responded that they appreciated the presentation and public input and that the district is watching state funding changes closely; Woods flagged a provision in House Bill 500 that he said would reduce SEEK funding to Madison County by $2.9 million over the next two years and urged the board to factor that reduction into any long-term commitments.
The board did not take immediate action on Senter's request during the meeting; members approved the routine motions on the financial reports and allocations and said the tentative budget discussion was scheduled for the board's next meeting.
