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Smith-Green board reviews financials, hears proposals to transfer education funds to operations and rainy day
Summary
At its Jan. 6 finance meeting, Smith-Green officials presented multi-year fund balances, reported a $2.13 million education fund year-end balance and discussed proposed transfers of up to $1.3 million to operations and up to $50,000 to the rainy‑day fund.
Smith-Green Community Schools trustees met in a board of finance session Jan. 6 to review the district’s financial condition, including fund balances, enrollment trends and outstanding debt, and to consider proposed fund transfers.
Finance staff reported average daily membership (ADM) is up by two students compared with last year and presented multi-year fund balances. The education fund ending balance for 2024 was reported as $2,132,607. Staff said the rainy‑day fund has been built through prior transfers and the district reported it is now "about $1.1 million" following a $50,000 transfer in 2024 and another in 2025. Total corporation debt as of Dec. 31 was reported at $7,115,000 with interest expense of $844,858.
Administration presented a resolution (second reading) authorizing transfers from the education fund to the operations fund not to exceed $1.3 million (described as up to 15% of the education fund) and a separate proposed transfer to the rainy‑day fund not to exceed $50,000. Staff explained that some of the 2024 education fund growth reflected moving curricular materials (about $379,000) into the education fund and increases in student tuition receipts (about $250,000). The transfers were presented for approval, but the transcript does not record a final roll‑call for those items in the provided excerpt.
Board members approved routine finance governance items during the session, including designating the school trustees and superintendent as the board of finance for 2026 and naming Star Financial Bank as the district’s depository for the year.
District officials recommended continued monitoring of revenue projections, including state tuition support estimates for 2025–26, and said that additional detail and official financial statements would be presented at the next regular meeting.
