Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Finance topic
No spam. Unsubscribe anytime.
Calhoun County schools report $51M cash and nearly five months of reserves
Summary
Finance officer presented March 2026 financials showing cash and cash equivalents of $51,000,000, investments at $16,700,000 (cost basis), net income $465,000, an unrealized gain of about $500,000, and an ending general fund balance of $46,000,000 (about five months reserve).
Mr. Godwin presented the financial statements for March 2026, reporting "cash and cash equivalents, 51,000,000" and investments and related receivables with a cost basis of $16,700,000. He said net income for the year was $465,000 and that an unrealized gain explained differences between the balance sheet and the statement; the sweep account program reflected $855,000 in revenue for the fiscal year.
Godwin said actual general‑fund revenues were at about 54% at midyear, with overall expenditures roughly in line at 46%. He reported the general fund ending balance through March was $46,000,000—"just shy of 5 months reserve"—and noted accounts payable for March totaled about $3,000,000 while payroll and benefits were about $7,000,000 for the month. Board members did not raise objections during the presentation.
