Board receives clean FY25 audit, approves FY26 Amendment No. 3 and hears budget timeline

Darlene Wolf presented the district financial report and recommended a budget amendment during the April 13 work session.

Wolf said general fund revenues for February totaled $13,300,000 and expenditures totaled $16,300,000, leaving an adjusted fund balance of $60,200,000 and about $4,200,000 in outstanding purchase orders. She reported SPLOST receipts for the reporting month of roughly $1,800,000 and noted SPLOST 6 is expected to cap out in either March next year or June 2027, with SPLOST 7 to begin thereafter.

On the current fiscal year Wolf introduced proposed FY26 Amendment No. 3, which updates revenue and expenditure accounts and reflects the state staff supplement as a significant factor. She listed proposed general fund totals of about $210,600,000 in revenues and $211,700,000 in estimated expenditures and said the district's total governmental funds budget is shown in the packet. The board was briefed on the FY27 timeline: tentative adoption in May and public budget meetings in May and June.

Wolf also presented the FY25 audit. "The district received a clean opinion, and there were no findings within the report," she said, noting that Title I and Title II single‑audit areas also received clean opinions. She reported Carroll County Schools earned a 4‑star financial efficiency rating (out of 5) from the Governor's Office of Student Achievement and said the district spends less per learner than 86% of districts statewide.

A board member asked about the SPLOST cap; Wolf said the cap is defined in the referendum and offered to provide the specific number by email. The board approved Budget Amendment No. 3 by motion and voice vote.

Cowley reminded the board that a resolution to provide for issuance of 2026 series bonds will appear on Thursday's meeting agenda and that board approval is required to proceed with the sale.