Working towards a financial goal – Dallas County Schools getting closer to month reserve
Published 9:42 pm Thursday, September 13, 2018
The state of Alabama requires school systems to have a one-month reserve in their general funds that will allow a school system to be able to pay their finances in the case of a financial emergency.
Every school system struggles with funding, and keeping a one-month reserve is not an easy task.
Chief School Financial Officer (CSFO) Brenda Turner announced at the approval of the Dallas County School System’s 2019 fiscal year budget that the system was at 88 percent with $1,955,397 in general fund. The system has come a long way from 2010 where the system had 23 percent of the reserve in the fund.
The fund was in even worse shape in 2012 with only 6 percent of the funds in the reserve at $142,467.
Turner and the rest of the school system has worked hard to get to a nice 88 percent, and we hope soon it will be a financial goal met.