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CFO outlines $23.9M school budget cleanup; summer tutoring grant highlighted
Summary
Hamilton County Schools’ CFO told commissioners the resolution is a year‑end 'true‑up' that recognizes roughly $5.7 million in a state summer‑reach grant and other capital and federal project changes; the CFO said unassigned fund balance is about $30 million and no maintenance‑of‑effort change was requested.
Hamilton County Schools’ chief financial officer described a multi‑fund budget amendment on June 3 as a routine year‑end reconciliation that recognizes several grants and loan proceeds.
The clerk read Resolution 626-38, which would amend multiple school funds — including federal projects, self‑funded projects, general purpose and capital projects — with several million dollars of adjustments. The CFO called it "our second budget amendment trying to kind of pull the true up for all year," and highlighted a state "summer reach" grant that will provide about $5.7 million for summer tutoring programs.
The CFO also described recognition of loan proceeds tied to a school lighting program with EPB and said the amendment does not change the schools’ maintenance of effort. In response to commissioner questions, the CFO said the system’s unassigned fund balance is "about 30 million" with roughly $100 million total including restricted funds; of that total, she said roughly $70 million is restricted for specific uses.
Commissioners thanked the CFO for the explanation; staff indicated that if commissioners’ questions were addressed at the meeting, the presenter would not need to return on the next agenda. The item was left for a regular meeting vote at a later date.
