DeSoto County School Board reviews July 2025 financials showing higher fund balance despite atypical revenue timing

The DeSoto County School Board on Sept. 18 reviewed July 2025 financial reports showing $20,427,199 in general fund revenue collections and a combined general fund balance of $210,113,008.20. The figures were presented during the finance report and approved by the board.

The district's presenter said the $20,427,199 figure represented a 3% decrease from FY25 collections driven by a one-time payment from "MBE" for retirement and health insurance increases; excluding that payment, revenue would show an increase. The presenter said general fund expenditures through July were $9,000,008.07 compared with $7,980,239 in FY25, and expenditures for all funds were reported at approximately $10,000,182.05. The presenter said expenditures remained within budget projections and were about 2% below budget overall.

Board members were also presented with a combined balance sheet showing the general fund balance at $210,113,008.20 — 7% higher than FY25's reported balance of $196,969,295 — and a statement of cash flows showing the district maintenance cash balance at $212,399,241, which the presenter said represented 83% of the total cash balance for all funds of $255,682,051. The amount invested with "Michelle and Regions Bank" was reported as $51,959,005.11.

All finance items presented (statement of revenue and expenditures, combined balance sheet, statement of cash flows, and bank reconciliation certification) were recommended for approval and were approved by voice vote. The certification of bank reconciliations for July was reported as having "no exceptions."