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Board hears financial report showing stronger revenues, $1.1 million surplus and SPLOST timing concerns
Summary
Finance staff told the board the district’s revenues are ahead of projections, citing higher property revaluations and vehicle-tax receipts; the district currently shows about a $1.1 million surplus and discussed using SPLOST funds for capital projects and the possibility of rolling back the millage rate.
District finance staff presented the February financial report and projected an amended budget, telling the board that higher-than-expected property revaluations and vehicle-tax (TAVT) receipts pushed several revenue lines above budget. The presenter said the district’s revenues are "very strong," noting that several categories are ahead of last year and that the district is roughly 11% above budgeted levels for the period.
Staff described a set of technical items that affected the year-over-year comparison, including a 2024 book-entry posted in 2025 that produced a large adjustment to QBE-related entries. The presentation said interest income is approximately $100,000 annually and that federal grant timing and Medicaid payments remain uncertain; staff cautioned that some receipts occur later in the fiscal year.
The presenter reported the district had "a 1.1 million surplus currently," adding the surplus position may narrow depending on project timing and amended-budget updates. The board discussed SPLOST balances (referred to in the record as 'splash'), with staff saying there is roughly six months of SPLOST balance available but noting timing can push planned projects into the next calendar year if funds arrive later.
Board members raised questions about event-related revenues and expenses; staff noted the Georgia High School association reported a small net loss for events held at Mercedes-Benz Stadium this year and that Lincoln County’s net distribution from that event was modest (reported in the meeting as approximately $7,319.93). Board members expressed concern about venue costs and revenue shares for future events.
Members also asked whether the district could reduce its millage rate next year given the strong revenue position; staff said a rollback could be possible but would depend on final revenues and capital project commitments. The finance presenter recommended careful planning and a review of the amended budget before making irrevocable commitments.
The board did not take a formal vote on budget policy during the meeting but discussed next steps for the amended budget and potential capital transfers from SPLOST.
