Finance report: district cash up from last year but federal funds delayed; SPLOST timing clarified

Mr. Larry Hammel presented the district’s June 2025 financial statements to the Board of Education on July 15, reporting a higher cash position than a year earlier but noting near‑term pressure from delayed federal funds and explaining the timetable for SPLOST planning.

The financial update matters because cash flow and federal grant timing affect the district’s ability to pay ongoing programs through September and determine whether the district must carry expenditures until federal transfers arrive.

Hammel said the district began the month with about $210 million and ended June with roughly $185.5 million (compared with about $168.2 million at the same point in 2024). Overall collections were reported at about 99.53% of projected budget. Hammel highlighted that the district collected 100% of certain local taxes and that QBE midterm payments came in smaller than projected. He told the board the district expects to draw roughly $26–27 million per month between July and early October to cover cash needs before the first large property‑tax distributions.

On federal funding, Hammel said recent federal‑to‑state transfers have been delayed and as a result the district would need to temporarily carry about $1 million a month in federal program expenditures until state transfers resume; staff said they expect a larger catch‑up transfer in October or November. He added there is separate concern that some Title II and Title III funding levels year‑to‑date could be reduced, with total potential shortfalls on the order of $1 million to $1.5 million for the year if state allocations do not materialize.

Hammel and board members discussed SPLOST (the special‑purpose local‑option sales tax). Staff explained that SPLOST collections can end once the voter‑authorized projects are fully collected and that is why the district has sought voter approval in the current window: to avoid a funding gap if collections end earlier than the voter‑approval timeline for the next ballot. The board said the intent is to avoid a multi‑month pause in project funding that would otherwise force cancellations or require drawing down the district’s cash balance.

Less urgent details: Hammel reviewed school cash balances and capital‑project closeouts planned for July; he noted some federal funds and grant receivables that will be recorded as the fiscal year closes.