Stephens BOE Meets for January Work Session

The Stephens County Board of Education pays off its 2014 tax anticipation note.

Thursday, Stephens County school officials said the system paid off its tax anticipation note of $4.752 million on December 4th.

According to the monthly financial report, that left the school system with just under $500,000 excess revenues over expenditures as of December 31, which is the halfway point of the school system’s fiscal year.

However, the school system at the halfway mark remains one percent over budget on the expenditures side, having spent 51 percent of budgeted expenditures.

The school system has received 65 percent of its budgeted revenues for the fiscal year as of December 31.

Stephens County School Superintendent Bryan Dorsey said the school system’s cash situation remains very concerning.

“As you guys know, we have certainly worked hard to try and balance between our expenditures and revenues and one of the issues we still see challenging us is the cash flow from the deficit,” said Dorsey.

Dorsey has said that he expects the school system to have to take out a tax anticipation note for 2015 as early as possibly next month to get the school system all the way through to the next property tax collection in the Fall.

The school board meets on Tuesday at 5:30 p.m. at the school system administrative offices on Mize Road for its regular monthly meeting.

Also, the board is planning a budget review for later this month to look at both the current fiscal year budget as well as the budget for Fiscal Year 2016, which starts on July 1.