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Photos by Jon Anderson.
The Vestavia Hills Board of Education meets on Nov. 2.
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Photos by Jon Anderson.
Courtney Brown, chief financial officer for Vestavia Hills City Schools.
The Vestavia Hills Board of Education ended fiscal year 2023 on solid financial footing, with revenues and other financing sources coming in at 110% of the amount budgeted, the school system’s chief financial officer reported to the board in October.
The school board had expected to receive about $91.8 million in revenues in fiscal 2023, which ended Sept. 30, but preliminary, unaudited end-of-the-year results showed revenues at $101 million, financial statements show.
The school board had initially planned to spend $90.7 million in fiscal 2023 but — with revenues coming in higher than anticipated — ended up spending $95.8 million, records show. That was 105.7% of the amount budgeted, Chief Financial Officer Courtney Brown said.
The end result was a $5.2 million surplus for the year, compared to a $139,000 surplus in fiscal 2022.
In fiscal 2022, the district budgeted for $87 million in revenues and $85.5 million in expenditures but ended up getting $91 million in revenues and spending almost the same amount.
In fiscal 2023, state revenues were $47.3 million ($4.5 million greater than anticipated), and local (city and county) revenues were $52.8 million ($4.4 million more than anticipated).
Brown also noted that at the end of the fiscal year, the school system had enough reserves in its general fund to cover 1.6 months’ worth of operating expenses.
“We actually ended on a good note this year, so I feel very good about it,” Brown said.
The school board also in October agreed to pay Duncan & Thompson Construction Services $297,285 to build a new canopy in front of Vestavia Hills Elementary Dolly Ridge.
The previous canopy at the front entrance was damaged by a vehicle this past summer and had to be taken down. The school board’s attorney plans to seek reimbursement for at least a good portion of that expense from the school board’s insurance company, which in turn will seek reimbursement from the party that caused the damage, Superintendent Todd Freeman said.
However, it’s likely the board will have to pay some of the expenses for the new canopy because the new canopy extends farther than the previous one, covering the full length of the loading and unloading area, Freeman said.
The goal is to get the new canopy installed over Christmas break, he said.
In other business, the school board:
Approved licensing agreements with Jeff Leonard Graphics and Moose Prints, so those companies can produce merchandise with logos and symbols that belong to the school system. Thirteen companies now have licensing agreements with the Vestavia Hills Board of Education, school system spokesman Whit McGhee said.
Renewed the school system’s $8 million revolving line of credit with Regions Bank, which the system has had for several years in case of shortfalls at the end of a fiscal year.
Received a $46,500 check from state Rep. Mike Shaw’s discretionary fund to use as needed. Shaw said he plans to talk with school principals in House District 47 about how the funds can best be spent in their schools.
Recognized Technology Director Keith Price for receiving the Data Security Champion Award from the Council for Leaders in Alabama Schools for his work to secure access to the school system’s network, protecting the network from outside interference and protecting the privacy of 900 employees and 7,000 students. Freeman also announced that Price is retiring in a couple of months, after about five years with the school system, and praised the job he has done.
Recognized Brendan Lovelady in the school system’s technology department for receiving chief technology officer certification from the Alabama Leaders in Technology organization.
