Greater Clark County Schools end May with $20.1 million balance; operations fund shows $1.1 million shortfall
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Summary
District finance staff told the school board the district finished May with a $20,136,000 ending balance but an operations fund deficit of about $1.1 million; staff warned statewide property-tax and levy changes could reduce revenue in coming years.
At the June 24 meeting of the Greater Clark County School Board of Trustees, finance staff reported the district ended May with a $20,136,000 overall balance while the operations fund showed an approximate $1.1 million deficit.
The update came as district staff described the period leading into budget season and underscored uncertainty from state-level tax changes. “We ended May with an ending balance of $20,136,000,” finance staff said, adding that the operations fund was “ending May in the negative of 1,100,000.0.”
The nut of the presentation was planning for the 2026 budget: May numbers will be compared to 2024 figures and June totals — which the treasurer said will be crucial for the upcoming budget cycle — and staff said they will present June’s results at the board’s second July meeting. Finance staff warned that legislative changes, including what they described as “Senate Bill 1” and other property-tax credit shifts, could reduce revenue available to schools and city services in future years.
Finance staff explained that the district receives two major distributions, in June and December, that help smooth cash flow. They said the district’s debt-service account holds a roughly $5.3 million cash balance and a designated “rainy day” fund remains at $12 million; staff said they plan to preserve that reserve in anticipation of statewide tax changes that could affect revenues in 2028–2030. “Any rainy day fund still remains at $12,000,000,” finance staff said.
Board members had no formal questions recorded on the report during the meeting beyond acknowledging the items and preparing for the budget schedule staff circulated by email. Staff emphasized that the district is continuing to update its five-year financial plan and said they are unable to fully predict how the state will show textbook-rental reimbursements in the school funding formula.
The presentation was an informational report; the board took no immediate vote on policy or budget adoption during the meeting. Staff said they will return with June figures and additional budget work later in the summer as part of the 2026 budget process.
