DOE $1.3 Increase in Available General Funds

The Jefferson County Department of Education’s General Fund Balance is around $1.3 million dollars healthier due to funds that were “rolled over” from the 2018/2019 fiscal year. School Board members received the increased balance information at their September Business Meeting held on Thursday evening, September 5, 2019 at the Historic Jefferson County Courthouse. Jefferson County Finance Director Potts has been working on the final rollover numbers for both the Department of Education and Jefferson County proper. Much of the rollover funds from the Department of Education came from the personnel lines. Retirement of some higher salary educators and replacement of those individuals with educators that are newer to the system and have not achieved the same level of compensation was one avenue that increased the rollover amount. Some positions that were vacated have not been filled which also created rollover funds.

Currently the Department of Education has an available general fund balance of around $1,345,171 above their state mandated threshold of $1.7 million. Other funds from insurance recovery and other sources are not a part of the available fund balance as they has been held in reserve or assigned account status but could be released if needed.

Information on the County fund rollover should be a part of the September meeting cycle. The School Board also addressed future year calendar issues and will take up the item again at their next school board meeting.

Source: K. Depew, News Director