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 five-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. 90% of the operational budget is for salaries and benefits, while the remainder is for operating expenses, such as fuel and utilities. FCS also has a capital improvement budget, which is funded by state capital outlay dollars and local SPLOST or Bond referendums.FCS is one of only a few school districts in Georgia to have a 100% senior exemption at the age of 65. Annually, the district loses an estimated $36 million revenue from this exemption. Additionally, FCS' Local Fair Share has increased from $45.7 million in FY16 to $62.5 million in FY20, an increase of $17 million in four years.
As the 7th largest out of 180 school districts in Georgia, FCS operates on a $479 million budget, with 73% of expenses tied to instruction. The 2019-20 budget included 143 new school positions for growth, a step increase for eligible employees, and a salary increase ($3,000 for certified staff and 2% for classified staff). The budget income is 48% from local funds and 52% from state and federal funds. The FY20 budget was built with a 15.03% fund balance while maintaining the same millage rate for the last five tax years, which is the lowest in Metro-Atlanta. FCS’ per pupil expenditure is $8,220.94, which is the lowest among the 12 largest districts in the state.
Capital (Bond and SPLOST)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:
- FY20 Final Budget (Includes Millage Rate History)
- 2018 School Current Tax Digest and 5 Year History of Levy
- FY17 Large Districts Per Pupil Comparisons
- QBE Comparisons*
- GADOE Financial Data Reporting
- 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.