McCrory board reviews July finances as state‑aid changes shift per‑pupil funding

The McCrory School District board accepted the July financial report, the superintendent said, after a presentation that showed July expenditures of roughly $431,000 and a four‑year comparison that left the district with "just a little over 1.2" million at year close.

Superintendent (presenter) told the board that the July expenditures included a large payment and that revenue comparisons show the district closed July with just over $1.2 million. "We closed July with just a little over 1.2," the presenter said, summarizing the four‑year comparison.

In the same update, the superintendent said the district received a corrected state assessed value and noted changes in ESA funding that will affect foundation dollars. The assessed valuation shown in the state aid notice was "up to 78,000,000 in the end," the superintendent said, and ESA funding for qualifying students increased to about $9.41 per student compared with $7.35 the prior year. The administration said those shifts will partly offset declines in other local revenue and declining enrollment.

Board members asked for clarification about the figures and how they translate to monthly state checks and to the district's fund balance. The superintendent said the district closed the fiscal year with about $1.3 million and that the figure translates to roughly a 24% fund balance measured against annual expenditures — above industry best practice minimums but not so large that the district can ignore capital needs.

The board discussed next steps for updating the audit and budget policy and noted federal allocations and ESA disbursement timing remain subject to standard accounting rules. The board voted to accept the financials in a motion that carried.