Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the School Finance topic
No spam. Unsubscribe anytime.
Tuscaloosa City Schools CFO reports stable revenues and highlights planned $4 million bus purchase
Summary
The district's CFO reported April revenues tracking near budget and highlighted a planned purchase of about 25 buses (roughly $4 million); the board received the financial report and approved routine consent items.
Tuscaloosa City Schools’ chief financial officer presented April financial statements to the school board and highlighted a planned, budgeted purchase of roughly 25 school buses.
“Property tax coming in…we’re going to be slightly slightly above budget,” Mr. Duke said while reviewing the district’s revenue reports, noting car-tag receipts and sales tax collections are tracking very close to last year’s levels. He said total expenditures year-to-date are around 57 percent against a 58.3 percent target.
Mr. Duke emphasized a planned transportation purchase this month: “We bought about 25 school buses…of that $4 million, which is a larger than usual amount,” he said, adding the district has 158 buses in its fleet and estimating the fleet’s replacement value at roughly $20–22 million at current prices. He also said the transportation operation carries about a $13 million operating budget.
The CFO identified upcoming capital spending held in reserve for technology and cited forthcoming projects including the Central High School track and a roof replacement at Woodland Forest Elementary as reasons for the district’s fund balances.
The board accepted the report and then proceeded with routine consent business.
What happens next: The board did not change budget policy during the meeting; the financial update will feed into routine monthly monitoring and planning for the district’s upcoming capital expenditures.
