School system catching up on financial records

Published 1:38 pm Wednesday, January 18, 2017

By JOYANNA LOVE/ Senior Staff Writer

Chilton County Schools is still catching up on its financial records.

Financial consultant Kim McPherson presented the Board of Education with the financial information for October and November during the meeting on Jan. 18.

“We have been busy reconciling financials,” McPherson said.

McPherson had planned on presenting the December financials also, but since the meeting was held a week sooner than anticipated she was unable to.

“By the next meeting, you should be caught up,” McPherson said.

As McPherson was reviewing the balance sheet with the board, she reminded them that if there is ever a negative number they should ask the CSFO about it.

There was a negative number in the November report.

“That is the area where the payroll account is accounted for and the negative in the balance is the result of voided checks,” McPherson said.

She explained that when a check is voided, the record has to be updated to put the money back in the correct place.

“They are in the learning process of how to deal with things like this,” McPherson said.

The interfund receivables and interfund payables, used for loans from one department to another, were off by $18.55.

“If this account owes this account, it should all balance,” McPherson said.

If left unchecked, a discrepancy here can lead to larger issues in the future.

Another negative number appeared on the revenue side, which McPherson said was the result of improper coding.

McPherson said there have been some issues with how financial items are being coded at the local school. She said additional training has been planned.

“I try to make a point of telling them that no matter how insignificant you seem to be out there, you are very important if you show up on the financials and you are waving the flag that something is not right out here,” McPherson said.

Based on how far into the fiscal year the school system is, McPherson said the system had received more revenue than projected at this time. The spending side was also 1 percent over. In a phone interview, Superintendent Tommy Glasscock said this could also be the result of coding issues. Glasscock said additional training for the bookkeepers has already begun.

McPherson was hired as a consultant when the former CSFO was approved for a medical-related leave of absence. before resigning on Nov. 18. The school system is paying $750 per day of work for the consulting service. Glasscock said McPherson does not work every day.

Also during the January board meeting, the school board approved a medical leave of absence for the assistant CSFO.

Jackie Parker, school system employee, also asked the school board for a status update on assistant teachers and bus drivers being given step pay. Glasscock said the school system still has financial records it needs to finalize before this could be considered. Assistant teachers and bus drivers are the only positions in the school system that do not have a step pay increase plan.

LaVerne Williams will begin as the chief school finance officer on Jan. 23. She met school personnel after the meeting during a meet and greet hosted at the central office. The CSFO is the only position hired directly by the Board of Education.