Dallas County school district discusses 1 month reserve funds

Published 8:20 pm Wednesday, October 31, 2018

The Dallas County School system might not make their one-month reserve at the end of their fiscal year.

Dallas County School System’s Chief School Financial Officer (CSFO) Brenda Turner said the report presented at the meeting was for August and showed that those statements had been reconciled.

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“We collected $152,273 AL tax,” she said. “The monthly average AL Tax collected for 2017 was $143,331 and thus far for 2018, our average $145,867 so we are doing a little bit better on what we did last year.  We passed to Selma City Schools under the Ala Tax $77,750.97 and under the motor vehicle tax that was $452.20.

“Monthly reserve for the month of August we ended in our general fund $2,434,593 that is a little over $213,000 for August,” she said. “We are in the process of closing out fiscal year 2018 so September I’ve looked at preliminary and it looks bad. We are not going to make it. I don’t think we will make our one month reserve. I think we will be about $200,000 short of making our reserve unless I can find a lot of money tomorrow. September is when we close everything out for the year, so we have to finish everything out and close everything out before I know our September actual balance. Then our auditor will have to audit the books to make sure they don’t make any changes, which that could be a possibility. Our auditor is going to be the same one that was here last year. He is scheduled to be here on Nov. 10. We will be in the first round of audits so we can get our audit over with and find out what we need to.”