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Jackson Public Schools reports midyear spending at 52.7% and near $29.6M cash balance
Summary
District finance staff told the Jackson Public School District board that 52.7% of the $469.2 million budget had been spent year-to-date, ending cash was about $29.6 million versus roughly $5 million in February 2024, and timing changes to a debt payment produced an estimated $74,000 savings.
Jackson Public School District finance staff told the Board of Trustees that the district had expended $247,000,000 of a $469,200,000 budget — about 52.7% — and reported an ending cash balance of roughly $29,600,000 compared with about $5,000,000 in February 2024.
The presenter said the district delayed a scheduled debt payment into March rather than February this year, and that the timing change produced a savings of about $74,000 compared with the prior year. “Even with that, we still had a savings of about $74,000,” the finance presenter said.
The presenter also reported year-to-date revenue collected was about $28,000,000 greater than the same point last year, while expenditures were about $3,300,000 higher and current collections were about $680,000 lower. Personnel costs were approximately $4,800,000 higher, which the presenter attributed to approved FY25 pay increases already included in the budget.
Board members praised staff for the payment timing and cash-management steps. One board member said the timing changes and reduced borrowing produced the savings and commended district staff for aligning payment timing with funding receipts.
Why it matters: the district framed the numbers as a measure of fiscal stability and as an early indicator for whether the district is on track to meet year-end financial goals. The board did not take a separate formal vote on the finance summary at the time the presentation was delivered.
Details: the presenter said all district bank accounts are with board-approved depositories and that bank statements were reconciled promptly as of Jan. 30, 2025. The cash-flow report provided to trustees showed a markedly higher cash position than the prior-year comparison.
