District reports $58.7 million fund balance, October revenues lag budget

The Chilton County Schools board on Dec. 15 accepted the district’s October financial report, which shows a $58,707,834.60 ending fund balance and a month in which expenditures outpaced revenues.

In presenting the statement, Miss Sherry said the district “should be at 8% of the fiscal year,” and that the district had received “7.38% of budgeted revenues” while expenditures were “at 8.96%.” She reported accounts payable of $3,113,184.42 and gross payroll expenditures of $6,164,727.90. For October the general fund ended the month with revenues under expenditures by $1,773,867.49.

Board members moved to approve the financial report as presented, and after no additional discussion the motion carried.

The figures presented reflect the district’s cash position and near-term liquidity, and board discussion did not disclose any additional program cuts or transfers at the meeting. Miss Sherry noted that excluding a CTE grant allocation would leave the district with approximately a six-month reserve, a briefing the board accepted without further action.

The board did not request a separate vote on budget transfers or new appropriations during the meeting; staff will return with any formal recommendations if changes are required.