Jerome School District
Monthly Financial Report
August 2026 · Month 2 of 12 (17% of FY27 complete) · Unaudited, modified accrual (IFARMS)
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August at a Glance
All governmental funds unless noted · current board packet
$46.74M
Cash + LGIP
all-governmental-funds liquidity after posted entries
335
Days Cash on Hand
cash ÷ daily forecast spend
$17.44M
General Fund Balance
began the year at $4.23M
$13.21M
GF YTD Net Change
revenue less expenditures
The August story in one line: General Fund revenue is $14.79M and expenditure is $1.58M, for a $13.21M net change. Operating liquidity is 335 days on the forecast basis.
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Jerome School District · August 2026 · 2
Why August Net Change Is Strong: State-Aid Timing
Idaho Code 33-1009 phases state funding through a small number of large installments
The month math (General Fund)
Revenues received
$14.79M
44.7%
Expenditures
$1.58M
4.6%
Net change
$13.21M
year-to-date
What’s coming: The next state-aid receipt follows the statutory schedule. Forecast remains the annual comparison; do not treat two months of activity as a full-year trend.
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Jerome School District · August 2026 · 3
Statement of Financial Position
All governmental funds · as of August 2026 · ties at $55,551,030
ACCOUNT | AMOUNT |
ASSETS | |
Other Assets | $6,293,871 |
Receivables | $199,370 |
Cash And Cash Equivalents | $46,738,659 |
Prepaid Expenditures | $159,717 |
Due From Other Funds | $2,159,413 |
Total Assets | $55,551,030 |
LIABILITIES & DEFERRED | |
Accounts Payable | $620,890 |
Payroll Withholdings | $2,176,808 |
Accrued Payroll And Benefits | $3,530,562 |
Deferred Inflows Of Resources | $1,482,953 |
Due To Other Funds | $2,159,413 |
Total Liabilities + Deferred | $9,970,627 |
Total Fund Balances | $45,580,403 |
What to point out
Cash + LGIP in the liquidity scope is $46,738,659.��Due to/from balances total $2,159,413 and net within the all-funds statement.��Accounts payable is $620,890. Assets equal liabilities, deferred inflows and fund balance; the displayed difference is $0.
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Jerome School District · August 2026 · 4
General Fund (100) — Forecast vs. Actual
Year-to-date through August 2026 · benchmark: 17% of the year elapsed
CATEGORY | FORECAST | YTD | % OF FORECAST |
Local sources | $2,553,789 | $631,774 | 24.7% |
State sources | $30,522,577 | $14,156,983 | 46.4% |
Total Revenues | $33,076,366 | $14,788,757 | 44.7% |
Elementary instruction | $8,448,098 | $34,503 | 0.4% |
Secondary instruction | $8,327,158 | $12,656 | 0.2% |
Operations & maintenance | $5,100,173 | $610,783 | 12.0% |
Administration | $2,993,606 | $96,592 | 3.2% |
Transportation | $1,838,510 | $157,647 | 8.6% |
Special education | $1,895,754 | ($315) | 0.0% |
Instructional support | $1,518,192 | $184,253 | 12.1% |
Other functions (8) | $3,850,278 | $479,933 | 12.5% |
Total Expenditures | $33,971,768 | $1,576,052 | 4.6% |
Net Change in Fund Balance | ($895,402) | $13,212,705 | |
Reading the percentages
The fiscal-year benchmark is 17%.��Fund 100 expenditure is 4.6% of Forecast in month 2; compare the mix—not only the total—with the 17% elapsed-year benchmark.��A dash means no forecast exists for that line—it is not a measured zero.
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Jerome School District · August 2026 · 5
General Fund Spending by Object
% of forecast used through August 2026 · 17% of the year elapsed
Largest meaningful utilization: Insurance & Judgments
$251,396 actual against $500,000 forecast (50.3%).
Payroll pace
Salaries 0.9%; Benefits 5.5%. Compare with the 17% elapsed-year benchmark.
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Jerome School District · August 2026 · 6
Five Largest Bills Paid
Controlled consent-agenda population · August 2026
SOURCE | DATE / REFERENCE | VENDOR | AMOUNT |
JSD | 2026-08-14 · 21337 | Starr Corporation --Twin Falls,ID | $485,937 |
JSD | 2026-08-14 · 21338 | STATE INSURANCE FUND | $350,434 |
JSD | 2026-08-07 · 0000033 | US BANK--x2000 Charlotte, MN | $322,888 |
JSD | 2026-08-07 · 21298 | Southeast Service Solutions | $289,955 |
JSD | 2026-08-07 · 21296 | POWERSCHOOL GROUP, LLC | $50,006 |
Top five total | | | $1,499,220 |
Scope and tie-out: The five largest payments total $1,499,220, or 78.6% of the $1,907,245 controlled population (214 payments). JSD is Sage GL-derived; JMS/JHS use controlled registers.
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Jerome School District · August 2026 · 7
Series 2020 Bond Defeasance
Subsequent event · final-number schedule dated September 10, 2026
$2.85M
Cash contribution
September 17, 2026
$3.45M
Refunded principal
2030–2036
$1.16M
Net PV savings
33.535191% of refunded bonds
STRUCTURE | Defeasance to maturity. $2,850,000 funds $2,823,977 of escrow deposits, $22,500 of costs and $3,523 of additional proceeds. |
PERIOD TREATMENT | Planned delivery follows August 2026; no defeasance entry or savings is recorded as August 2026 activity. |
BOARD FOLLOW-UP | Confirm actual funding, securities purchased, escrow verification and accounting entries against closing documents. |
Source: Final Numbers_SD 261_Defeasance of Series 2020_9.10.26.pdf · Final-number schedule; available escrow securities and closing execution remain pending
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Jerome School District · August 2026 · 8
Twelve-Month Cash Projection
Ending cash by month, $ millions · phased on Idaho’s apportionment calendar
How to read it
Starts from adjusted operating cash of $46.74M.��State receipts create the sawtooth: Nov $5.95M, Feb $5.95M, May $2.97M.��Projected floor: $33.02M in Jun 2027. Cash at June 30: $33.02M. Projected June 30 DCOH: 236.7 days ($33.02M cash ÷ daily forecast expenses).
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Jerome School District · August 2026 · 9
Items to Watch
1
State-aid timing drives the early surplus
General Fund revenue is 44.7% of Forecast after 17% of the year. Treat the current surplus as timing evidence, not a full-year trend.
2
Front-loaded annual costs
Insurance and other annual invoices can exceed the elapsed-year benchmark early; distinguish them from recurring monthly run-rate before acting.
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