The challenges and mandates resulting from the COVID-19 shutdown have led to a number of financial adjustments for Henry County Schools, and there will be more to come.
Recent fiscal belt-tightening and lower expenses resulting from closed facilities appear to be reflected in the monthly report issued by district chief financial officer Christy Willis at the Henry County Board of Education’s April 20 study session. Through March 31, the district has received 84.5 percent of its budgeted revenue for 2019-2020 while spending 74 percent of the budgeted amount. In dollars, revenue for the year so far is just over $344 million and expenditures total $299.6 million. More than $236 million was reported as cash on hand as of March 31.
After a $615,000 payment last month to complete the recent bus replacement purchase, the balance on the E-SPLOST IV account is just over $60,000 for the $212.8 million program. That means 99.97 percent of the program revenue has been spent. The money covered the construction of Hampton High School, renovations of existing schools, wireless infrastructure installation, HVAC improvements in middle school gyms, new security features at all schools, and other projects.
The E-SPLOST IV collections ended December 31, 2017. The current E-SPLOST runs through the end of 2022 and is projected to collect just over $380 million. Nearly 83 percent of that budget has been spent in a variety of areas.
The Coronavirus Aid, Relief, and Economic Security (CARES) Act passed by Congress and signed into law March 27 by President Trump allocated funding to support school systems’ response to the COVID-19 pandemic, Willis said. Henry County Schools has organized a CARES steering committee to organize the district’s financial and accountability processes related to the new law.
The district has been provided an estimated allotment from the Georgia Department of Education in the amount of $6 million, according to Willis. Officials do not yet have a timeline as to when it will be made available, but the money can be used through September of 2021. This funding can proactively address distance learning, school meals, supplemental learning, at-risk student populations and mental health.
Willis said the district could see a decrease of nearly $20 million in state funding over the next year.
The final 2020-2021 budget is scheduled to be presented for adoption at the June 22 business meeting inside of its previously scheduled date, which was May 11. The tentative budget is expected at the June 8 study session. The two required public hearings will take place on those dates beginning at 6:30 p.m. Public hearings for the coming year’s millage rate will be set in July or August.
When schools were closed March 13 due to COVID-19, it was decided that interior construction work on existing schools would be suspended as well. Work on the new performing arts center in Fairview has continued as well as additions at four different high schools. Officials expect the performing arts center to be substantially completed by May, according to discussions at the study session.
