Posted in Education

In 9 years, Escambia School District General Fund Reserves grew 377%

   March 6, 2012

I reviewed the past 9 years to see how the Escambia County School District has grown General Fund Reserves under both Malcolm Thomas and his predecessor Jim Paul. The reserves have grown 377%. Unbelievable!

I compared that growth to what has happened in Santa Rosa County. The neighboring county has seen its reserves increase, too, but the total growth over the nine-year period was only 77%. Something’s wrong here.

Superintendent Jim Paul grew the reserves to a certain level over a four-year period taking advantage of the jump in revenue the year immediately following Hurricane Ivan  and then he maintained that reserve level during his final four years in office.

What Paul took seven years to achieve, Malcolm Thomas has surpassed in a little over a year and a half.. This can’t be good for the local economy during this recession or for the education of Escambia County children.

How could the Escambia County School Board let this happen?

Escambia County School District
Year General Fund Growth Superintendent
2002  $14,022,771
2003  $16,948,626  $2,925,855 20.9%   Jim Paul
2004  $21,422,721  $4,474,095 26.4%   Paul
2005  $40,078,498  $18,655,777 87.1%   Paul
2006  $39,524,168  $(554,330) -1.4%   Paul
2007  $39,841,512  $317,344 0.8%   Paul
2008  $37,162,467  $(2,679,045) -6.7%   Paul
2009  $37,640,824  $478,357 1.3%   Paul/Thomas
2010  $50,084,645  $12,443,821 33.1%   Thomas
2011  $66,894,754  $16,810,109 33.6%   Thomas
Total  $52,871,983 377%
Note: In 2005, $20 million of the reserves were encumbrances.  In 2011, only  $10.4 million was either denoted nonspendable or restricted.
Santa Rosa County School District
Year General Fund Growth
2002 $12,093,008
2003 $15,610,954  $3,517,945 29.1%
2004 $18,107,654  $2,496,700 16.0%
2005 $19,985,733  $1,878,079 10.4%
2006 $23,120,602  $3,134,869 15.7%
2007 $22,282,021  $(838,582) -3.6%
2008 $22,868,544  $586,523 2.6%
2009 $18,635,695  $(4,232,849) -18.5%
2010 $24,142,653  $5,506,958 29.6%
2011 $27,525,574  $3,382,921 14.0%
Total  $11,914,620 76%

 

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