Oconee County Schools took in $1.8 million more in revenue than budgeted for the fiscal year that ended on June 30, with $1.1 million of that from higher local tax revenue.
The $1.8 million in unbudgeted revenue also included $0.7 million more in investment and interest income than was expected.
Spending in Fiscal Year 2026 was at the budgeted $120.5 million, allowing Oconee County Schools to add $0.4 million to its General Fund Balance.
The original budget called for the transfer of $1.4 million from the General Fund to cover projected spending.
Oconee County Schools received nearly $0.4 million less than budgeted in Federal Funds in the just completed fiscal year, but it also spent $0.4 million less than budgeted.
The Oconee County Board of Education approved amended Fiscal Year 2026 budgets at its meeting earlier this month, based on the recommendation of Oconee County Schools Chief Financial Officer Peter Adams and Superintendent Melissa Butler.
Adams also told the Board that Educational Special Purpose Local Option Sales Tax (ESPLOST) revenue in June was more than $1 million for the third month in a row and that he expects the tax to reach its cap of $48.5 million in October.
Voters last November approved a new ESPLOST to go into effect as soon as that $48.5 cap is reached.
Financial Reports
Adams, in his financial reports at the July 6 meeting of the Board of Education, reported that the General Fund Cash Balance at the end of June was $69.0 million, and the ESPLOST Fund Balance was $13.1 million.
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| Screen Shot Adams 7/6/2026 |
In June, Adams reported that the General Fund Cash Balance on May 31was $71.9 million, while the ESPLOST Fund Balance was $13.8 million.
“Our state funding projections are currently stable,” Adams told the Board. “Our cash balance for June was strong and we are well positioned to meet our goals for the fiscal year end.”
ESPLOST collections had dropped below $1 million in January and February after eight months above that level and returned to more than $1 million in March.
The June receipt of $1.1 million is for May collections.
Adams said the increased collections in recent months “is really great to see” and “our total collection so far is at $43.5 million. Our cap is $48.5. So, we're on target to hit that probably by October.”
Adams, in his presentation of the amended General Fund Budget, said “The increase is primarily the result of stronger than anticipated local revenues and interest earnings.”
The original budget passed by the Board last year had projected $51.0 million in ad valorem taxes, while $51.5 million was received.
Intangible and transfer taxes were $180,000 more than the $700,000 budgeted.
Vehicle Title Taxes were $400,000 more than the $3.0 million budgeted.
And investment and interest income was $700,000 more than the $1.3 million budgeted.
New Spending
At the July 6 meeting, the Board approved spending $43,301 for a replacement audio system for the North Oconee High School gym.
Chief Operations Office Ryan White told the Board that “The current system is original to the building and has failed. Sound systems are having to be rented to continue to use the space.”
The Board also voted to spend $63,852 for a replacement backup field generator for the septic system at High Shoals Elementary School.
Fred Ricketson, director of facilities for Oconee County Schools, told the Board that “the backup generator is to ensure if there was a power outage the pumps will still work.”
“That generator is 20 years old and is at the end of its life,” Ricketson said.
Both projects will be funded with ESPLOST revenue, Superintendent Butler said.
According to the report Adams made to the Board on July 6, spending from the current ESPLOST stands at $79.0 million, with total revenue, including a rollover of earlier ESPLOST monies, at $107.3 million.
Video
I was not able to attend the July 6 meeting.
The embedded video below is on the Oconee County Schools YouTube channel.
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