City Schools finances on trackPublished 8:19pm Monday, February 25, 2013
With nearly one-third of the fiscal year complete, both revenue and expense are tracking on budget for the Troy City Schools, says the district’s CFO.
Board of Education members received the update as part of their monthly financial report during Monday’s meeting. To date, the district has received 34.5 percent of budgeted revenues for the fiscal year and spent 34.2 percent of budgeted expenses.
“We’re tracking right on budget,” said Mickey Daughtry, CFO for the district. “If we go on according to that plan, we will dig into our reserves.”
The district’s budget as passed anticipated tapping reserves to cover operating costs this fiscal year. The current projections show the district moving from 3.72 months operating expenses in reserves to 2.34 months in reserve for the year-end projects. In January 2012, the district had 5.56 months worth of expenses in reserves.
“In our budget we anticipated we would dig into our reserves,” Daughtry said.
Daughtry also said federal funding cuts prompted by sequestration could impact the budget by $100,000 in the next fiscal year.
“We’re hearing that we should anticipate a 5 to 6 percent cut in federal funding,” he said. “This would roughly be $100,000 over all the programs and would start next fiscal year.”
Superintendent Lee Hicks said the district is still waiting to see what types of funding changes could come from the current session of the Alabama Legislature. “They’ve not really started working on that part of the budget,” he said. “I think revenues are up, but with the anticipated payment to the rainy day fund and other issues, I think we’re looking at keeping our state funding at the same level it was last year.”
In other business, the board on Monday:
• Received a proposed outline for determining graduation awards and rankings. Board members will review the policy for one month and vote at the March meeting. “This is to clarify some of the issues we’ve had in the past,” Hicks said.
• Declared cafeteria equipment at Charles Henderson High School surplus and approved its sale.
• Heard from Beverly Copeland, a parent, who urged board members to review and reconsider the district’s polices on bullying. She cited several concerns, including the fact that victims of bullying suffer the same disciplinary consequences as the bullies (i.e., suspension) and that children in elementary school should be allowed to have age-appropriate responses to bullying without fear of disciplinary action. Board members took no action on her comments, but Eva Green did thank her for attending the meeting. “I want to thank you for coming. We’re here and we have a listening ear,” Green said.
• Thanked the district on the investment of new uniforms for the sports programs. “I’ve sat on this board closing in on five years and I’ve seen a lot of teams and athletics that I’m not proud of,” said Dr. Judson Edwards, president of the board. “Well, we went to Mobile with the soccer team this past weekend and that group was as well outfitted as any group in state … now, we need to make sure we support the other clubs and activities as well. I can’t tell you how important extracurricular activities are to students.”
The board meets again at 5:15 p.m. March 21.