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Pickens County CFO says district finances are on target through March
Summary
Chief Financial Officer Amy Smith reported the district has collected roughly 78.62% of its general fund revenue and expended 64.33% of approved expenditures through March, and provided capital outlay and special revenue fund figures while noting an ongoing audit.
Chief Financial Officer Amy Smith told the board the district’s general fund revenue collection through the end of March was 78.62% of budgeted revenue and that expenditures stood at 64.33% of approved expenditures, which she described as “on target” for the year.
Smith listed capital outlay receipts for March ($742,807.46), interest earned ($785.27) and expenditures for the month ($723,186.60), reporting a month-end balance of $9,608,736.20 for the capital outlay fund as recorded in the meeting. She said special revenue funds — primarily federal grants and the school food program — have collected 59.46% of approved revenue and expended 72.85% of budgeted expenditures, noting that special revenue often requires spending before reimbursement.
Smith said the district is undergoing an audit with an outside Georgia department team; the transcript records 108 audit requests with 12 unanswered at the time of the meeting and a projected communication timeline of six to eight weeks for final audit correspondence.
"We have collected 78.62% of our budgeted revenue. We have expended 64.33% of our approved expenditures," Smith said, summarizing the month-to-date picture. She invited questions and said staff will keep the board updated on the audit process.
