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Forsyth schools report draft June finances; board approves continuing resolution to fund July operations
Summary
Chief finance presenter Larry Hammel reported draft June 2026 numbers showing a roughly $25 million gap between collections and expenditures and a $3.9 million impact on fund balance after reserve adjustments; the board unanimously approved a continuing resolution allowing operations funding for July at 0.083 of the 2026 budget while the final 2027 budget is prepared.
Larry Hammel presented the district's June 2026 draft financials, emphasizing those figures are preliminary while accruals for July are still being booked.
"We started the month off with about a $190,000,000 in cash. We ended the month about a 164," Hammel said, noting the district spent roughly $21,000,000 from reserve funds for projects during the year.
Hammel said the difference between collections and expenditures for the year totaled about $25,000,000; backing out $21,200,000 in reserve spending, he said the effect on the district's fund balance was about $3,900,000. He attributed part of the revenue shortfall to slower collections and appeals that he expects will resolve later in the fiscal year.
Hammel reviewed debt-service and SPLOST fund details, noting the district has used SPLOST 5 and 6 funds to offset payments and expects no additional SPLOST 7 funds. He also described investment and special-revenue balances, including LGIP balances reported in his presentation.
Because the final 2027 budget had not been approved in time, the board considered a continuing resolution allowing staff to spend 0.083 of 2026 budget amounts during July to keep operations funded until the budget is adopted. Mister Grimes moved the continuing resolution; Missus Hoyes seconded. The board approved the measure unanimously.
What happens next: staff will finalize July accruals and present final June numbers in subsequent reports; the district will complete the formal 2027 budget process at the scheduled meeting (board placed budget approval on the July 30 meeting).
