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George County School District reports preliminary June cash balance, notes accounting adjustments
Summary
District finance staff reported a preliminary all-funds cash balance for June and described accounting and payroll timing adjustments affecting monthly figures, including a $4 million decrease and transfers to FY26 projects.
District finance staff reported preliminary figures for June during the meeting, saying the district's all-funds cash balance for June was "preliminary at $18,000,007.99." The finance presenter listed a number of timing and accounting adjustments that affected the month's reported balance.
The presenter said there was "a decrease of 4,000,000 for May," and explained that about "1,300,000.0 of that is funds that we had to use that is due from other funds. So once those federal funds pay us, it will pay on the loans when you're back." The transcript records the explanation but does not name the specific federal funding sources.
Staff also explained payroll timing effects: "We just had to close out your years. 2.1 is payroll. We had 2 payrolls we have to run for the month of June. We have old July, new July. So the 2.1 is an additional payroll." The presenter said the district moved $1,000,000 to fiscal year 2026 projects, and that July payroll would be shorter because some payroll amounts were paid in June for accounting purposes.
The figures were presented as preliminary. The transcript does not record formal board action to adopt or amend the budget based on these adjustments during the provided segment.
District staff said they would reconcile the timing differences once federal reimbursements and other fund transfers are processed and reflected in future reports.
