The Lawrence County School System began the 2020 fiscal year with at least 2.1 month’s operating reserve and about $7.4 million in its general fund, School Accountant Suzy Berryman told the school board in a regular meeting Monday night.

The balance reflects expenditures of about 16.7 percent for the first two months of fiscal 2020.

“It’s right on track where it should be,” Berryman said. “The only line item that’s a little above is operation and maintenance, which is at 23.6 percent. We have to pay our entire insurance right up front, and that includes all of our building insurance, which I will say sits right at $300,000 in the first couple of months, so that throws that number a little high.”

Although the school system had not received any ad valorem tax payments as of November, Berryman said the schools had received $830,000 in sales tax in the first two months of the fiscal year.

“That’s up about nine percent from last year, so that’s looking good. That’s about $70,000 from the prior year, so I’m hoping that trend continues,” she said.

Berryman said the board should expect ad valorem revenue to increase the general fund balance slightly for January. 

She said the school board had also renewed three certificates of deposit with Regions Bank in December and earned $52,000 from interest accrued since the CDs were purchased in December of 2018.

“I know that’s not a whole lot, but it’s almost a teacher unit, so we’re getting there,” she told the board.

In other business, the school board accepted the retirement of East Lawrence High School teacher Ricky Thompson, effective Feb. 1. The board also approved a contract with Building Systems Technology and R.A. Hubbard for the replacement and reprogramming of a fire alarm panel within the school, not to exceed $5,595.

All board members except District 2 Board member Gary Bradford were present for the meeting. The Lawrence County Board of Education will hold its next regular meeting on Monday, Feb. 3, at 6 p.m.



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