Troy school board passes budget with $100K surplus

Published 3:00 am Tuesday, September 17, 2019

A year after having to borrow money to make ends meet, the Troy Board of Education approved a budget Monday night that includes a $106,000 surplus.

Retiring CFO Mickey Daughtry said only $109,000 was borrowed on a $2 million line of credit the board took out last year, and with “careful management and careful monitoring,” no more money should need to be drawn on that line of credit.

The full budget comes up to $20 million in revenue with just under $20 million in expenditures.

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Daughtry said the board is still looking for funding sources to fill in a gap in Pre-K that would further increase that surplus.

The board unanimously approved the budget and praised Daughtry for his work on the budget, as well as his 10-year career with the education system.

“We truly appreciate what you’ve done,” said Dr. Lee Hicks, superintendent.

Even 10 years into managing the budget, Daughtry said he “still got butterflies” preparing this year’s document.

“I want to give you the best info I can,” Daughtry said. “I’ve got a stakehold in those kids out there too. They are a treasure to us. I truly believe in this school system … Thank you to all the staff. Y’all have been such a support, putting up with me when my nerves have been frayed and when I’ve grumbled when I thought we were spending too much money; I was always trying to encourage us to do better. We have a wonderful staff and set of administrators. I will always pray for y’all. We thank you for the time I’ve had here and I love you all.”

Following the board meeting, the board conducted interviews to find a replacement for CFO. The board expects to announce a new CFO this week.

In personnel action, the board:

  • Approved the hire of Shannon Powell as in-school suspension aide at Troy Elementary School.
  • Approved the hire of Alecia Jones as Child Nutrition Program assistant and cook at Charles Henderson High School.