Finance

Students playing xylophones during a group music class, focusing on their instruments in a colorful classroom.

About Our Finance Department

The Germantown Municipal School District Finance Department is responsible for management of the District’s fiscal affairs, which include budgeting, financial reporting, fixed asset control, payroll, school finance oversight, accounts receivable and accounts payable.

Each year the financial records of the school-based activity funds are audited by an independent audit firm approved by the Board of Education. The District’s financial records are audited by an independent audit firm approved by the City of Germantown.

Explore More In Finance

The strategic goals of the Germantown Municipal School District Finance Department aligns directly with the District's Goal 4: Resource Management and Long Range Planning. The Finance Department is responsible for the planning, management, and monitoring of the approved budget while ensuring all the financial operations are handled in an efficient manner ensuring compliance is met.

Explore Our District Budget

The Budget document authorizes the allocation of GMSD resources and establishes the direction for programs and services for our top-rated schools for the coming year.

School district budgets are named for the fiscal year they serve, such as FY2024 aligning with the 2023-2024 school year, and are typically published in late spring of the preceding year. These budgets are crafted to align with the district’s strategic plan and are designed to be clear and accessible for all community members. The General Budget covers regular revenue and expenditures, such as salaries and operations, while the Other Funds Budget includes non-regular items like cafeteria sales, federal funds, large grants, and specific insurance costs. Together, these budgets ensure transparency and comprehensive financial planning for the district.

FY2024 Approved General Budget

FY2024 Approved Other Funds Budget

Historical GMSD Budget Documents

Historical GMSD Budget Documents

FY2023-2024 Approved Budget

FY2023-2024 Approved Other Funds Budget

FY2022-2023 Approved Budget

FY2022-2023 Approved Other Funds Budget

FY2021-2022 Approved Budget

FY2021-2022 Approved Other Funds Budget

FY2020-2021 Approved Budget

FY2020-2021 Approved Other Funds Budget

FY2019-2020 Approved Budget

FY2019-2020 Approved Other Funds Budget

Other Resources

Audit Reports

City of Germantown's Audit Reports

The Germantown Municipal School District is considered a Special Revenue Fund of the City of Germantown by the State of Tennessee and is thus reported as such in the City of Germantown’s Comprehensive Annual Financial Report.

City of Germantown's Annual Financial Reports

Fund Audit Reports

FY22-23

FY21-22

First page of the PDF file: SchoolActityFundAuditReports-4

FY20-21

First page of the PDF file: SchoolActityFundAuditReports-3

FY19-20

First page of the PDF file: SchoolActityFundAuditReports-2

FY18-19

First page of the PDF file: SchoolActityFundAuditReports-1

Payroll

Germantown Municipal School District Payroll is responsible for all payroll functions as well as time reporting of the school system.

Payroll is responsible for:

Processing of payroll
True Time time sheets
Quarterly filing of the 941 tax return
Processing and disbursement of W2 Forms
Submission of retirement file to the Tennessee Consolidated Retirement System
Payroll Withholdings

For any payroll questions, contact Payroll Specialist Kimberly Welsh.

Purchasing

The Procurement system of the Germantown Municipal School District is a customer service directed function which serves the students, teachers and staff of GMSD by ensuring that all purchases are made in a timely manner, while following all GMSD policies as well as the statutes of the State of Tennessee. These policies and processes facilitate the purchase of services, supplies and construction in a manner that is most cost efficient for the taxpayers of Germantown, Tennessee.

Becoming a Vendor

Thank you for your interest in doing business with Germantown Municipal Schools. All vendors must complete the vendor registration packet with Vendor Registry, our procurement suite provider, at the link below.

We also ask our vendors to register at Vendor Registry.com in order to view all GMSD bid opportunities. There is no cost to vendors for registration to utilize the services provided.

Background Checks

Please visit the Bid/RFP Opportunities page to see a list of Bid/Request for proposal projects.

Please feel free to contact GMSD Purchasing or call (901) 752-7881 if you have any questions regarding the registration process.

School Fees & Activity Costs

School fees are governed by the Tennessee Constitution, Tennessee Law, Tennessee State Board of Education (SBE) Rule, and local board of education policy. Only those fees authorized by the local board of education may be requested, and payment of school fees may not be a condition to attending the public school or using its equipment. (Tenn. Code Ann. § 49-2-110(c)).

Tenn. Code Ann. § 49-2-114 and the SBE Rule 0520-01-02-.16(1) define school fees.

Student Engagement & School Clubs

GMSD 24-25 School Fees and Costs

Finance Forms

As GMSD works to ensure that all staff members can participate in unique professional development experiences to grow during their time GMSD, our Finance department is working behind the scenes to make sure that all of the paperwork you need is ready to go. From reimbursement, to stipends and coaching, our Finance Forms drive is here to help.

Finance Forms

Meet Our Finance Team

Chrystal Epps-Bean

Operations Specialist and Purchasing Specialist

901-752-7881

Email Chrystal Epps-Bean