The Chilton County Board of Education approved financial statements and bank reconciliations for September 2014 and for the end of the 2014 fiscal year at a called meeting Oct. 30.

Chief Financial Officer Steve Yeargan presented financial statements for September and Fiscal Year 2013-2014 for the board to review and vote on so they could be submitted to the state by Nov. 3.

Yeargan went over pie charts showing breakdowns of the board’s expenses in the General Fund and ending FY 2014 fund balances.

The board spent a total of $48,047,789 in the general fund.

A breakdown of the board’s expenses in FY 2014 in the general fund only is as follows: salaries and fringes – instructional, $29,639,383.31 (61.7 percent of the total); salaries and fringes – support services, $6,303,762.96 (13.1 percent); salaries and fringes – maintenance, $1,223,509.29 (2.5 percent); salaries and fringes – transportation and Child Nutrition Program, $2,925,600.94 (6.1 percent); salaries and fringes – administration, $1,201,594.79 (2.5 percent); pre-school, adult education and OSR, $305,018.84 (0.6 percent); utilities, $1,581,164.62 (3.3 percent); maintenance repair and supplies, $1,185,709.44 (2.5 percent); Child Nutrition Program pass-through, $886, 501 (1.8 percent); transportation fuel, parts, etc., $582,131.76 (1.2 percent); debt payments, $380,787 (0.8 percent); contracted services, $331,997.56 (0.7 percent); general liability insurance, $322,057.61 (0.7 percent); textbooks, $241,906.40 (0.5 percent); software maintenance agreements, $209,939.45 (0.4 percent); non-capital equipment, $161,145.16 (0.3 percent); miscellaneous materials and supplies, $152,155.29 (0.3 percent); fee funds for teachers, $143,703 (0.3 percent); capital equipment, $121,995 (0.3 percent); dues and fees, $55,847 (0.1 percent); travel, $53,765.58 (0.1 percent); and general office supplies, $38,113 (0.1 percent).

The board’s ending FY 2014 fund balances totaled $7,813,588 (without mandatory reserve funds) and were: sales tax reserve, $7,346,619 (94 percent of the total); cash with fiscal agent, $109,586 (1.4 percent); local ad valorem, $69,803 (0.9 percent); Helping School tag tax, $14,791 (0.2 percent); old textbook fund, $1,048 (0.0 percent); fuel reimbursements, $211,795 (2.7 percent); Section 16th land tax, $32,758 (0.4 percent); Section 16th land tax, $27,188 (0.3 percent).

The board’s ending Capital Outlay balances were: (PSF) Public School Funds, $2,660,164 (58.1 percent); PSF interest earned, $54,197 (1.2 percent); Driver Ed balance, $1,515 (0.0 percent); (PSCA) Public School and College, $1,865,227 (40.7 percent, and the board only handles paperwork), for a total of $4,581,103, plus fleet renewal for $750,333, which comes to $5,331,436.

On Sept. 16, the board approved a proposed budget of $80 million for the 2014-2015 fiscal year to be submitted to the state for approval.

The board’s budget for the current fiscal year, which started Oct. 1 and ends Sept. 30, 2015, is nearly $66 million plus a $14.3 million fund balance reserve.

In September, Yeargan projected the board to end FY 2015 with about $6.2 million in the general fund, $4 million of which would be the amount in reserve as required by the state.