• financial
     
    The Forsyth County Board of Education and staff have a strong record of fiscal balance, sound reserves, and financial accountability. Forsyth County Schools (ºÚÁÏÍøÕ¾) is the only school district in the state to receive a seven-year consecutive 5-out-of-5 Star Financial Efficiency Rating from the Georgia Department of Education. 
     
    We have an annual operational budget, funded by local taxes, and state and federal funds. 89% of the operational budget is for salaries and benefits, while the remainder is for operating expenses, such as fuel and utilities.
     

    For local revenue, ºÚÁÏÍøÕ¾ is one of only a few school districts in Georgia to have a senior exemption at the age of 65, which is an annual loss of an estimated $60 million for 23-24. Lastly, in terms of state revenue sources, ºÚÁÏÍøÕ¾' Local Fair Share contribution has increased to be $81,283,947  for FY24 (was $73.6 million in 2022-23).

    ºÚÁÏÍøÕ¾ also has a capital improvement budget, which is funded by State capital outlay dollars and local SPLOST or Bond referendums.
     
    Operational (M&O)

    As the 5th largest out of 180 school districts in Georgia, for 2023-24 ºÚÁÏÍøÕ¾ operates on a $652 million budget, with 73% of expenses tied to instruction. The budget income is 52% from local funds and 48% from state and federal funds. The FY24 budget was built decreasing the millage rate 2 full mills. Last year, ºÚÁÏÍøÕ¾ decreased the millage 1 full mill. ºÚÁÏÍøÕ¾’ per-pupil expenditure is $10,132, which is the lowest among the 12 largest districts in the State.

    Capital (Bond and SPLOST)
     
    The FY23 budget includes a decrease in the debt services (bond) millage rate - from 2.418 to 1.418. This one mill reduction for taxpayers brings the debt services millage rate back to its 2010 rate.
     
     
    ºÚÁÏÍøÕ¾ is proud to be one of three school districts in Georgia to receive the highest possible bond rating, AAA, from both Moody's and Standard and Poors (S&P), which was recently reassigned for the third time in November 2021. Having the highest possible credit rating is a benefit for taxpayers with lower interest rates on the sale of bonds. S&P currently rates 4,782 school districts with only 86 having a AAA rating, while Moody’s currently rates 13,363 school districts with only 88 having an AAA rating.

    Federal Funding

    When looking at revenue sources for ºÚÁÏÍøÕ¾, it is important to note that the majority of metro districts, including four with smaller student enrollment, received considerably more funding than ºÚÁÏÍøÕ¾ from the CARES Act (federal revenue). ºÚÁÏÍøÕ¾ received $20+ million in total CARES ACT I, II, and III funding.
    • ACT I was used to pay the salaries and benefits for school bus drivers that were not working for the last three months of school when COVID -19 shut the state down ($1.7+ million).   
    • ACT II was used to offset the austerity cuts from the state ($5.7+ million).
    • ACT III was used to match the state $1k supplement for employees ($6.5+ million). We used $4+ million for ERU (energy recovery units) at two elementary schools that did not have those units. The remaining $3+ million was used for summer instruction for students.
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