County school system getting closer to fund targets
Published 8:31 pm Thursday, August 30, 2018
With two months left to go in the fiscal year, the Dallas County School Board is still working to maintain their general fund goals.
At their Tuesday meeting, Chief School Financial Officer (CSFO) Brenda Turner gave the July statements to the board.
“We are up a little bit on our Alabama tax, but whatever we get up, Selma gets more too,” she said.
The Alabama tax revenue for July was $149,246. The monthly average for this year in Alabama tax revenue is $145,226.
Turner said the tax revenue sent to Selma City Schools was $76,205.
The county school system also gained $452.20 for the month of June from a boat motor sells tax.
The general fund ending balance for 2017 was $1,955,397 and the system’s one-month reserve is $2,220,771.
“Right now, we are at $2,707,164,” Turner said talking about the balance for the general fund. “That is a $120,635 increase from last month in our general fund. We still have two months left to go, and I’m hoping it is going to be very close. I’m hoping we stay above. There is only a difference of $486,393 left between where we are and making our goal. Hopefully, the general fund won’t take too many more bills.
“July marks 83 percent of the (fiscal) year completed,” said Turner. “We have collected 84 percent of our budgeted revenues and our budgeted expenditures are at 78 percent. So, as long as our expenditures stay down, we can get to our one month goal. Right now, we are working on the 2019 budget, and it is due to the state department on Sept. 15.”