The Anniston City Schools system remains shy of its state-mandated general fund balance, but it did not lose ground from last year.
State law requires school systems to maintain one month’s operating expenses in their general accounts.
At the school board’s meeting Thursday night, Chief Financial Officer Tanya Holcombe said Anniston ended fiscal 2007 with about $1.09 million in reserve.
That’s about 75 percent of the $1.455 million needed to meet the mandate, which is about where Anniston stood at the end of fiscal 2006.
Interim Superintendent Joan Frazier also noted that a school construction bond will be paid off this year.
The City of Anniston has given the school system money for those payments. The schools could net an extra $600,000 next year if the city maintains that appropriation.
Frazier said officials at the Alabama Department of Education likely will meet in January with systems that don’t have the required reserves. She said she is already speaking with officials there and will be ready to present a plan, just as the schools did last year.
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