09/08/2026 - Special Board Meeting - Approval of Annual Financial Report and Cost Report

The Flagler Schools Special Board Meeting held on September 8, 2026, focused primarily on the approval of the 2026-2027 annual financial report and cost report. The discussion centered on the district's fiscal year 2025-2026 year-end financials, including detailed breakdowns of major and non-major funds such as the general fund, federal grants fund, debt service funds, and capital funds. Key points included the district's unrestricted fund balance of $7.5 million, the use of 1.5 mill capital funds to support the general fund, and the management of a $24 million fund balance in the capital fund to address unforeseen costs and support operations. The board also discussed the impact of property values and millage rates on revenue, clarifying that increases in property tax revenue result in corresponding decreases in state funding due to state-level funding formulas. The board unanimously approved the financial report and cost report, with no public comments presented during the meeting.