Coffee County Schools Chief School Financial Officer Shannon Odom presented the proposed budget for fiscal year 2021 at the Coffee County School Board’s regular meeting on Sept. 6.
The estimated beginning balance for fiscal year 2021 – beginning Oct. 21, 2020 and ending Sept. 30, 2021 – is $7,772,075.60 with expected total revenues of $34,561,767.75.
The estimated cost of expenditures for FY 2021 is $34,210,192.07 leaving an estimated ending balance of $8,123,651.28.
Of that, $7,235,612 will go to the general fund, $723,654.75 to the special revenue and $164,384.53 to the fiduciary.
The Alabama State Department of Education suggests all school systems keep at least two months operating balance in the general fund. Coffee County Schools will have the equivalent of four and a half months of operating costs.
According to a report presented by Odom, 71 percent of Coffee County Schools’ revenue comes from state funds with 17 percent coming from local funds, 11 percent from federal funds and 1 percent from other funds.
The majority of state funding – which will provide $17,367,791 in funding in FY 2021 – is driven by the average daily membership (ADM) of each school. ADM represents the total, average daily enrollment for the school system during the first 20 days after Labor Day as reported to the State Department of Education.
During that span, Coffee County’s ADM was 2,513.40. Broken down by schools, Kinston School’s ADM was 512.80, New Brockton Elementary’s was 646.40, New Brockton High School’s was 461.60 and Zion Chapel Schools’ was 761.60. Pathway’s ADA was also 131.
Coffee County Schools saw an increase in ADM from the previous fiscal year of 2,513.40 to 2,565. All Coffee County Schools saw an increase in enrollment except Kinston.
The school system will receive $1,829,892 in federal funding with $909,991.93 of that going to the Child Nutrition Program. Also, $4,357,072.07 comes from local revenue. Local revenue comes from things like local taxes, school lunch sales, and investments.
The second budget hearing will be on held on Sept. 10 at noon at the Coffee County School Board in Elba.