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Calhoun County board accepts financial report showing $46.74 million general-fund balance
Summary
The Calhoun County Board of Education accepted a financial report from finance staff showing a $46.74 million general-fund ending balance (about 4.9 months reserve), noting a month-to-month decrease driven by a debt-service payment and advanced refunding.
John Godwin, the district's finance lead, presented the board with a monthly financial overview and said cash equivalents totaled $51,800,000.
"Cash equivalents, totaling 51,800,000," Godwin said, and he explained a $17,800,000 decrease from the prior month was driven largely by a debt-service payment and an advanced refunding of outstanding debt. Godwin reported investments and related receivables of $16,600,000 (cost basis), a year-to-date net income around $300,000 and an unrealized gain of $687,000. He said the general fund's ending balance at the end of February was $46,740,000, which he described as approximately a 4.9-month reserve.
A board member praised the finance team for a clean audit and zero findings, saying the result was "to be commendable." After brief discussion, the board moved, seconded and approved acceptance of the financial report by voice vote. No board member recorded a roll-call tally in the transcript.
