Johnson City Schools report July–August finances; teacher bonus paid, PEP balance reported

Leah Valley, director of finance for Johnson City Schools, presented the district’s financial report for the first two months of fiscal year 2025–26 and the PEP sales-tax account update, and the board approved the report.

Valley reported revenues through Aug. 31 totaled $12,609,000; adjusted for a state teacher bonus, revenues were 6.8% above the prior year. She said the state-funded teacher bonus payment received in July totaled $1,341,000 and that the district’s portion of the bonus not covered by the state (recorded from fund balance) cost about $2,630,000.

Valley said total expenditures through August were $14,740,000 and the fund balance at the end of August was $16,445,000. She cautioned the board that cash balances typically decline in October–November because property tax revenues are not received until December; she listed a cash balance of $10,640,000 as of the meeting date.

On the PEP account, Valley said August deposits included a $296,000 city deposit and a $175,000 school deposit; the account balance at the end of August was $9,564,000 after a transfer for fencing related to the Indian Trail project. When asked whether she had concerns about using PEP funds for Towne Acres, Valley said she expected roughly $3,000,000 to remain in the account after planned withdrawals.

The board moved to approve the financial report and the motion carried.

Ending: Valley’s report was filed and the board approved the financial report; the board was advised to expect seasonal cash declines until property tax receipts begin in December.