Financial approvals come as BOE finishes fiscal year

Board of Education, News
approvals

EAST ELLIJAY, Ga. – June marks the end of Gilmer BOE’s fiscal year and the preparations for the new year are receiving final approvals before July. With fuel bids, natural gas, and the FY 23 budget all on the agenda, the school system prepared for its new school year.

Already approved as the tentative budget, this now moves into official status as the actual FY 2023 budget with the final touches and modifications made for the $45 million budget. This did increase slightly since the tentative budget approval as it went from $45,012,326 to final approval at $45,739,326 in June’s meetings. The difference in revenues and expenditures also slightly increased from $2,788,218 of expenditures over revenues to $2,810,338 of expenditures over revenue.

Just like the tentative budget approval, the BOE adjusts for changes like the governor’s $2,000 increase in teacher’s salaries, cost of living increases, and QBE Allotment changes, and an increase to all classified salary schedules to a minimum starting hourly pay of $12 and an eight hour workday for those classified staff.

This final budget approval is expected to take the BOE’s fund balance from $22,066,332 in July 2022 to $19,255,994 in June 2023.

The BOE also approved the 2022 Amended Budget in June and was approved for the expenditures total at $43,101,121 in the general fund.

In addition to general budgets, the Board of Education approved SCANA Energy for natural gas provider with the contract set to go from July 2022 through June 2024. Prices were set at $0.749 per therm plus $8.50 times the Dedicated Day Design Capacity.

Morgan and Hunt Oil Company were approved for Fuel with their bid of 0.0375 over cheapest rack price plus a freight cost for both Diesel and Ethanol Free Gasoline.

Other bidders on fuel included Petroleum Traders Corp at 0.0334 over highest rack cost and Gladieux Trading at 0.0693 “over rack price.”

With unanimous approvals these bid approvals were accepted for the new year.

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