City school board passes $33.15M FY2020 budget

By:
0
340
Cullman Tribune file photo

CULLMAN, Ala. – The Cullman City School Board approved the system’s FY2020 budget Tuesday night. The $33.15 million total budget includes a general fund budget of $26.44 million. This year’s budget is an approximate 4% increase from last year.

Chief School Finance Officer Russell Raney explained, “The state passed the 4% pay raise for all education employees and our budget is up about 4%. It looks very similar to last year’s budget with the exception of the state’s giving us more revenue to cover the pay raise they implemented and the expenditures are going to reflect that 4% pay raise. As far as all of our departments, our departmental budgets were all maintained at the same level from last year and nothing else significant is going on.”

Total budgeted revenues are $33.84 million with excess revenue of $929,473. The general fund revenues are $28.29 million with excess of $154,000. The total budget includes the general budget, special revenue, debt service, capital projects and fiduciary expendable trust.

The ending general fund reserve is $6.5 million with a total reserve of $10.7 million.

Said Raney, “We are in very good shape. (The) $6.5 million we are projected to end next year with is almost three months in reserve and the State of Alabama requires school systems to have at least one month in reserve. We put a target to try to get close to three if we can for rainy days.”

Copyright 2019 Humble Roots, LLC. All Rights Reserved.

Cullman City Schools Sept. 17, 2019 Agenda by TheCullmanTribune on Scribd

avatar

Christy Perry

christy@cullmantribune.com