Mr. Williams presented preliminary financial statements for the fiscal year ended Aug. 31, 2025 and noted auditors are still finalizing adjustments.

He reported the general fund ended the year in substantially better condition than earlier projections due to investment interest revenue and conservative spending. The board earlier transferred $7.1 million of prior-year surplus into a locally defined capital projects fund; Mr. Williams described expenditures-over-revenues and said auditors may make minor adjustments. He summarized other funds: Child Nutrition (positive revenue over expenditures), debt service activity and investment interest, tuition-based pre-K changes tied to recent state legislation, special revenue funds timing due to reimbursement lags, campus activity fund performance, and 2024 bond fund activity as construction accelerates.

Board members asked whether the recommended use of this year's surplus would be to roll funds into locally defined capital projects; Mr. Williams said staff expects to recommend rolling funds into that fund. Members also requested a written summary on the pre-K legislative impact to share with a state representative.