During Monday’s Pearl River County School District’s Board of Trustees meeting, the Board discussed several budget reports for the month of July and the previous fiscal year.
Business Administrator T.J. Burleson compiled the previous year’s monthly statements to compare them with total revenues and expenditures with those from this year.
“Cash can fluctuate a lot from month to month. Some transactions take time to process and others take time to finalize, which is the reason the statements are always a month behind,” Burleson said.
From July 1, 2015 to June 30, 2016, the total amount of cash on hand was about $52.6 million. The total actual revenue equaled $21.6 million and the total actual expenditures equaled $21.9 million.
This brings the total cash flow for the previous fiscal year from July 2015 to June to $52.3 million.
The ad valorem report indicates that in July the district had the highest ad valorem monthly statement in nine years. In July of 2016, data shows collection of ad valorem taxes were $233,863. Burleson gave a potential reason for the increase.
“The monthly statement numbers strictly goes by how many people paid their taxes that month. It might be a big jump from the 2015 July statement of $180,737, however that is the only major factor that applies to this report,” Burleson said.
Also, Burleson said the state requires the district to reconcile the bank account monthly, which was approved during Monday’s meeting.
“The bank reconciliation report is basically how much cash is in each of the funds,” Burleson said.
The report calculated the balances of the district finances from payroll funds to elementary school club funds.
The balance for the bank reconciliation statement was $4.9 million with outstanding expenses of $219,662. With the total outstanding revenue of $1.7 million for the period brings the balance of last year’s bank reconciliation to $6.3 million. Half of the total balance is from the district maintenance fund, which totals $3.4 million.
Burleson said last month’s statements will be available at the next meeting.
The Board also approved the source and fund balance reports for July. The district had a fund balance of $21.5 million for the beginning of July. With a year-to-date collected revenue of $1.2 million and expenditures of $758,544; the actual fund balance after July totals around $22 million.
In other matters, the school board:
• Approved Lacey Hampton as the PRCMS dance team director.
• Approved the upper elementary wellness plan, PRCHS wellness plan and the district wellness plan.
• Approved hiring Kelsey Carroll as a middle school physical education teacher and assistant high school girl’s basketball coach.
The next school Board meeting will be September 12 in the boardroom next to PRCHS at 5:30 p.m.