Tuesday, August 21, 2012
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COVINGTON -- The Newton County School System has more money to carry over for this school year than originally expected.
Dr. Dennis Carpenter, deputy superintendent for NCSS, reported to the Newton County Board of Education last week that the system has collected at least $3 million more in taxes than was budgeted for last school year.
"We're still waiting for a final collections for 2012 from our tax commissioner and are still processing expenditures for 2012," he told them.
He expects to receive final, exact figures by the board's September meetings.
"We'll have an ending fund balance (from last school year, which ended June 30) of at least $18 million," he said.
"That's a big yahoo," said NCSS Superintendent Gary Mathews.
The board didn't discuss what it would do, if anything, with the extra unexpected funding; otherwise, it will sit in reserves to carry over for next school year.
Mathews said NCSS business manager Peggy Bullard would create a report for the board to show how the money would cover future expenses. Previously, NCSS expected future school years to carry a deficit or low reserve fund if all current expenses and revenues hold steady.