Mister McCoy presented the October 31, 2025 monthly financial report and warned that county tax-bill timing and tuition transfers to charter schools are creating short-term cash-flow pressure.

"This month, we can really see the negative impact that the delayed tax deadlines are causing to our revenues," Mister McCoy said, noting the district had collected about $25,000,000 this year compared with $68,000,000 at the same point last year and that Newcastle County expected to send revised bills by Nov. 20.

McCoy outlined immediate effects: the district’s budgeted interest revenue of $1,960,000 will likely fall to a more conservative $1.3 million to $1.4 million because of delayed receipts and falling interest rates; charter payments for the year were approved at $7,090,000 (up from about $6,109,000 last year), and, as presented, the combination of early charter transfers and delayed tax receipts generated a November projected negative revenue figure.

McCoy told the board the state has set up a mechanism for districts to use state funds temporarily while waiting for tax receipts, and the district planned to use those funds to preserve cash flow rather than delay charter payments. He also reported receipt of $1,092,000 in enhanced minor-capital-improvement (MCI) funds that will be applied to facility projects and noted special-education tuition spending was higher than last year due in part to ESY staffing; corrective measures are underway.

Board members probed assumptions behind the cash-flow projections, including rates and county tax-file updates. McCoy said projected ending balances had declined (from roughly $8.4 million to $8.2 million in the report) but that the business office is monitoring reserves and contingency options; he said the district remains hopeful tax-base growth and classification adjustments will improve the outlook.

The board voted to accept the October 31, 2025 monthly financial report subject to audit.