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Andalusia schools increase reserves

Published 12:00am Tuesday, October 22, 2013

Andalusia City Schools ended the 2013 fiscal year with almost three and a half months of funding in its reserve fund.

Chief school finance officer Jean Sellers reported to board members that the system ended the year with $3,339,861 in reserves, an increase of $896,998 over last year. School systems are required to have a minimum of three months’ operating funds in reserve.

Documents provided to the board showed that local sales tax funding to schools increased by almost $80,000 in fiscal year 2013, or 7 percent. Sales tax revenues for schools increased in every month of the 2012-13 fiscal year.

 

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