The Gilmer County School System’s 2024 fiscal year tentative budget of $50.8 million has been approved for advertisement.
It is required by the Georgia Statue and State Broad of Education that the annual budget for the next fiscal year must be prepared by the superintendent of schools and presented to the Gilmer County Board of Education for consideration and adoption prior to the end of the current fiscal year.
Budget preparation got underway last November as administrative teams reviewed the needs and changes to initiatives. Superintendent Dr. Brian Ridley and chief financial officer Trina Penland met with principals and department heads at this time and those discussions continued through February.
The system held its initial public budget hearing March 24 as part of the board retreat. The tentative budget was unanimously approved for advertisement at a the board of education’s Monday called meeting.
Gilmer County schools receive revenue from three primary sources, which come from the local (taxes), state (FTE and QBE formulas) and federal (grants) levels. Revenue for FY24 has been estimated at $47.1 million.
Some of the system’s top expenses include instruction ($33.3 million), maintenance and operations ($4.4 million), transportation ($3.3 million), school administration ($3.2 million) and pupil services ($2 million).
With estimated total expenditures of $50.8 million, the system will experience an excess of expenditures over revenues of $3.7 million. The estimated beginning fund balance of $24 million has been estimated to decrease to $20.3 million by the end of the period.
The tentative budget will be considered for adoption by the board at its next regular meeting scheduled for June 22. If a budget is not adopted by the end of June, a spending resolution for July must be approved prior to July 1.