CCSB Approves $460,000 Transfer Into Building Fund

RISON - The Cleveland County School Board formally approved moving $460,000 from the general fund to the building fund as the district wrapped up the 2024-25 fiscal year with a healthy carryover.Meanwhile, Superintendent Davy King said he will arrange another financial workshop before the end of the month to discussed the proposed gym/multi-purpose center. King said the $460,000 transfer will more than double the $457,000 the district had in the building fund before the money was moved.Cleveland County began the 2024-25 fiscal year with a balance of $904,965.71 in its general fund while closing it with a balance of $1,365,561.86. “We needed that,” King said.The fiscal year for public school districts in Arkansas runs from July 1 to June 30 of the following year. The state officially closes out the books for the previous fiscal year toward the end of August.King attributed the surplus in revenue to eliminating some positions within the district through natural attrition as well as being more frugal with spending.School districts operate with primarily two funds: the general fund, which covers most of the expenses, and the building fund, which can be used for construction and facility projects.The state evaluates the financial health of a school district by its closing balance in its general fund at the end of the fiscal year. Should there be a decline in that closing balance, the district risks being placed on the state’s fiscal distress list and even having the state take over the district’s finances should the trend continue.Many school districts try to keep the final closing balance as close to the previous year as possible in order to have a lower number to match from year to year. Anything above that number can be transferred to the building fund to accomplish that goal. The district can still move that money back into the general fund, if needed.Gym Project Update...