The Forsyth County Board of Education and staff have a strong record of fiscal balance, sound reserves, and financial accountability. Forsyth County Schools (FCS) is the only school district in the state to receive a six-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.When looking at revenue sources for FCS, it important to note that the majority of metro districts, including four with smaller student enrollment, received considerably more funding than FCS from the CARES Act (federal revenue). With this funding, the school district provided $1,000 one-time bonuses to staff in May. For local revenue, FCS 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 $36 million. Lastly, in terms of state revenue sources, FCS' Local Fair Share contribution has increased to be $71.2 million in 2021-22 and for FY22 the district received $10+ million in austerity cuts.FCS also has a capital improvement budget, which is funded by State capital outlay dollars and local SPLOST or Bond referendums.
As the 6th largest out of 180 school districts in Georgia, for 2021-22 FCS operates on a $520 million budget, with 72% of expenses tied to instruction. The budget income is 52% from local funds and 48% from state and federal funds. The FY21 budget was built maintaining the same millage rate (17.3) for the last seven tax years, which is the lowest in Metro-Atlanta. FCS’ per pupil expenditure is $9,607, which is the second-lowest among the 12 largest districts in the State.
Capital (Bond and SPLOST)Voters approved SPLOST V in 2016, which is set to expire soon. Currently, the BOE is discussing SPLOST VI for the November 2, 2021 ballot. More information will be posted in July.FCS is proud to be one of 17 school districts in the United States to receive the highest possible bond rating, AAA, from both Moody's and Standard and Poors (S&P), which was recently reassigned for the second time in March 2020. 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 a AAA rating.Other Resources:
- FY22 Approved Budget
- Millage Rate History
- FY20 Large Districts Per Pupil Comparisons
- QBE Comparisons*
- GADOE Financial Data Reporting
- 2021 5 Year Tax Digest
- Audit Reports
- Monthly Financial Reports
1. Go to Meetings, Board of Education
2. Select a date for a Regular Board Meeting
3. On the agenda, select Finance Report.