Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the District Finances topic
No spam. Unsubscribe anytime.
Magnolia ISD board approves May and June financials; reports $44.8M ending General Fund balance
Summary
Trustees approved May and June 2026 financial reports and dashboards showing May payroll/operating $33,455,231 and June payroll/operating $9,089,906; packet lists an ending General Fund balance of $44,768,182. The Business Office also presented investment and cash-management summaries.
The Magnolia Independent School District Board of Trustees on July 13 approved the district financial reports for May and June 2026 and received detailed dashboards on revenues, expenditures and investments.
Assistant Superintendent of Operations Erich Morris presented the monthly financials and check registers: the May check register totaled $3,320,250 with May payroll and operating expenses of $33,455,231; the June check register totaled $4,187,170 with June payroll and operating expenses of $9,089,906. The packet shows an ending General Fund balance of $44,768,182. The board approved the reports as part of the consent agenda.
Morris also reviewed object- and function-level breakouts, noting instruction and payroll remain the largest expenditure categories. Investment summaries for May 31 and June 30 were included in the packet (TXCLASS, Woodforest Bank, Lone Star and TCG investments) and the materials state the portfolio is held in compliance with PFIA Government Code Chapter 2256. The packet lists Kim Weatherby as Executive Director of Finance on the investment report. No additional appropriation or budget amendment was taken at the meeting.
The board approved the financials by voice vote during the consent agenda; the minutes record the consent motion carried 4–0.
