Hancock County School District hears midyear finance update, schedules budget hearings for August

District finance staff told the Hancock County School District Board of Trustees that tax collections for the current year fell slightly short of earlier estimates and laid out a timeline for the district’s 2025–26 budget, including a public hearing planned for Aug. 4.

The board heard that total ad valorem and homestead receipts that were expected for the year came in about $61,945 below the district’s estimate. A staff presenter said the district received $16,768,000 versus an available base of $16,830,011.56 and described the variance as “relatively small” given tax‑collection volatility.

The finance presentation placed the district’s operating revenue mix as primarily local, followed by state and federal sources, and noted that May collections this year trailed May and June collections from the prior year. Staff also flagged that the county’s new property rolls and the state’s final funding numbers remained pending and would affect final calculations for next year.

Why this matters: the shortfall and pending state figures feed directly into the board’s tax and millage decisions and the district’s ability to set staffing and program budgets before the school year begins.

Board and staff were given preliminary scenarios showing what a 4% or 5% tax request could yield and were told the district’s operational millage position is low compared with peers on the coast. The presentation also reviewed outstanding debt instruments, including a three‑mil note and a 2019 bond, and noted the possibility of accelerating payoff for a bond and a three‑year note that could shorten future borrowing timelines.

The board agreed to the budget calendar staff proposed: run legal ads in the local newspaper beginning July 16, hold a public hearing at 5 p.m. on Aug. 4, and aim for final adoption in the week of Aug. 11–15 so the budget can be submitted to the county by the Aug. 15 deadline. Board members also discussed presenting a preliminary 2% budget at the July board meeting to guide planning.

District staff said they expect to close the fiscal year paperwork and finalize accounting entries by mid‑July so the August materials will show the most up‑to‑date balances. The presenter emphasized that both county new‑property assessments and the state funding allocation remain outstanding and will be incorporated once available.

Board members asked clarifying questions about timing and next steps; there were no formal changes to millage or tax rates at the meeting.

Ending: Board members agreed on the public hearing and the target schedule so staff can complete year‑end closing and prepare the August adoption packet.