Finance director: seasonal funding gap will draw reserves until property taxes arrive

Mr. Owen presented the monthly finance report for the month ending Aug. 31, 2025, and told the board the district is experiencing a seasonal funding gap that typically reverses once property tax receipts arrive in November and December.

"At this point during the year, until those funds, both the local and the federal funds come to us, we're gonna see that gap," Mr. Owen said, explaining that the district receives property tax revenue in bulk in December and that some federal funds are reimbursed on a lag.

Mr. Owen reported the reserve and fund balances: a year‑to‑date reserves drawdown from about $142,900,000 to $87,900,000, a building fund balance of $116,400,000 (largely bond and SPLOST proceeds), a debt service fund at about $35,000,000 with an upcoming debt payment in February of roughly $32,000,000, and a school nutrition fund balance of $16,200,000. He noted SPLOST collections were about $1,100,000 above projections for the month and about $29,000,000 above projections cumulatively.

Mr. Owen said the district built reserves to avoid short‑term borrowing (TANs) historically used during the pre‑tax period, and that month‑to‑month expenses are expected to exceed revenues by roughly $20,000,000 for the coming months until the tax receipts arrive.

Board members thanked Mr. Owen and noted appreciation for taxpayers and shoppers who help fund capital projects. The report was presented for information; no formal action was taken at the work session.

Note on unclear transcript numbers: one revenue figure in the transcript was garbled and could not be verified from the recorded remarks; reserve and fund balances above are reported as spoken during the presentation.