Although the Barrow County School System faces a difficult budget for FY2012, it ended FY2010 with a strong financial balance. The system’s 2010 audit was released by the state last week.
Although revenues dropped in FY2010 for the system, expenses were also cut significantly. The result was a net of $1.1 million in the general fund. That drove the system’s fund balance to $12.7 million at the end of the year.
That outcome was better than the system had originally planned for. In its budget, the BCSS had anticipated using $2.47 million of its reserves to balance its FY2010 spending.
While the system had anticipated $110.3 million in revenues in FY2010, it only collected $107.9 million. But the system cut around $6 million in spending from its original budget during the year, leaving it in the black by $1.1 million.