The Shelby County Board of Education recently passedĀ theĀ fiscal year October 1, 2015 through September 30, 2016 budget. Ā According to Chief Financial Officer and Assistant Superintendent of Finance Gary McCombs, the system-wide beginning fund balance of $31 million and revenues of $202 million provide resources to meet the systemās expenditure needs.
System-wide expenditures are projected atĀ $207,910,383.43.Ā Expenditures less capital outlay translates to per pupil expenditures of $10,314.13.Ā Debt service principal and interest obligations will beĀ met from revenues and beginning fund balances.Ā Debt service revenues areĀ from advalorem taxes (46%), sales tax (23%), Alabaster and Pelham City Schools reimbursements (19%), and beginning debt service fund balance (12%).
“The Shelby County Board of Education had a decrease in state revenues compared to previous year; however projected growth in local revenues will offset the impact of the decline in state revenues,” said McCombs. “The system continues to operate from a conservative budget position and has projected a stable one month General Fund operating ending fund balance.”
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