SCHOOL DISTRICT OF CLAYTON STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES - GOVERNMENTAL FUNDS Year ended June 30, 2024 General Fund Special Revenue Fund Debt Service Fund Capital Projects Fund Total Governmental Funds Revenues Local $ 28,982,530 $ 30,296,836 $ 7,642,552 $ 4,881,956 $ 71,803,874 County 154,028 227,855 144,959 71,149 597,991 State 355,405 1,552,304 - - 1,907,709 Federal 665,736 114,987 177,711 - 958,434 Other 18,953 - - 32,960 51,913 Total revenues 30,176,652 32,191,982 7,965,222 4,986,065 75,319,921 Expenditures Instruction 2,972,138 31,133,438 - 794,410 34,899,986 Attendance and guidance 922,628 1,497,828 - - 2,420,456 Health services 743,527 134,052 - 5,145 882,724 Improvement of instruction and professional development 511,079 1,431,857 - - 1,942,936 Media services 429,283 618,066 - - 1,047,349 Board of Education services 295,005 - - 2,024 297,029 Executive administration 1,747,699 1,524,257 - 229,799 3,501,755 Building level administration 1,240,887 1,749,575 - 1,172 2,991,634 Operation of plant 8,434,210 - - 2,097,058 10,531,268 Security services 496,305 - - 125,824 622,129 Nonreimbursable transportation 306,529 - - - 306,529 Food services 1,151,905 - - 19,305 1,171,210 Business services 1,044,836 - - 49,279 1,094,115 Central office support services 314,688 166,979 - - 481,667 Adult/community programs 1,317,901 1,548 - 6,213 1,325,662 Facilities acquisition and construction - - - 121,586 121,586 Debt service Principal retirements - - 9,410,000 515,000 9,925,000 Interest and other charges - - 1,412,473 79,244 1,491,717 Total expenditures 21,928,620 38,257,600 10,822,473 4,046,059 75,054,752 Revenues over (under) expenditures 8,248,032 (6,065,618) (2,857,251) 940,006 265,169 Other financing sources (uses) Transfers 5,276 - - (5,276) - 5,276 - - (5,276) - Net Change in Fund Balances 8,253,308 (6,065,618) (2,857,251) 934,730 265,169 Fund balances at July 1, 2023 16,819,311 18,130,984 8,313,030 2,210,433 45,473,758 Fund balances at June 30, 2024 $ 25,072,619 $ 12,065,366 $ 5,455,779 $ 3,145,163 $ 45,738,927 The accompanying notes are an integral part of this statement. - 23 -

SCHOOL DISTRICT OF CLAYTON RECONCILIATION OF THE GOVERNMENTAL FUNDS STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES WITH THE DISTRICT-WIDE STATEMENT OF ACTIVITIES Year ended June 30, 2024 Total net change in fund balance - governmental funds $ 265,169 Capital outlay to purchase or build capital assets and right-to-use leased assets are reported in governmental funds as expenditures. However, for governmental activities, those costs are shown in the Statement of Net Position and allocated over their estimated useful lives as annual depreciation and amortization expenses in the Statement of Activities. This is the amount by which capital outlay exceeds depreciation/amortization expense for the period. Depreciation/amortization expense 4,845,286 Capital outlay (3,325,976) (1,519,310) Because some property taxes, grants, and other inflows of resources will not be collected for several months after the District's fiscal year end, they are not considered as "available" revenues in the governmental funds, and are instead reported as deferred inflows of resources. They are, however, reported as revenues in the Statement of Activities. 238,588 In the Statement of Activities, the loss or gain on the sale or disposal of capital assets is recognized. The fund financial statements recognize only the proceeds from the assets. Loss on disposal of capital assets (3,085) In the Statement of Activities, certain operating expenses such as compensated absences (vacations) are measured by the amounts earned during the year. In the governmental funds, however, expenditures for these items are measured by the amount of financial resources used (essentially, the amounts actually paid). (22,372) The governmental funds report debt (e.g. bond) proceeds as an other financial source, while repayment of debt principal is reported as an expenditure. Also governmental funds report the effect of premiums when debt is first issued, whereas these amounts are deferred and amortized in the Statement of Activities. The net effect of these differences in the treatment of debt and related items are as follows: Bond issuance premium 508,325 Repayment of bond principal 9,410,000 Lease principal 515,000 10,433,325 Interest on long-term debt in the Statement of Activities differs from the amount reported in the governmental funds because interest is recorded as an expenditure in the funds when it is due, and thus requires the use of current financial resources. In the Statement of Activities, however, interest expense is recognized as the interest accrues, regardless of when it is due. 44,931 The internal services fund used by management to charge the costs of the insurance to individual funds is not reported in the Statement of Activities. Governmental fund expenditures and the related internal service fund revenues are eliminated. The net revenue (expense) of the internal service fund is included in the governmental activities. 530,032 The fund financial statements do not recognize the liability related to postemployment benefits other than pensions. The decrease in this liability is recognized in the Statement of Activities. (224,145) The fund financial statements do not recognize the pension liability. The decrease is recognized in the Statement of Activities. (279,478) Change in net position of governmental activities $ 9,463,655 The accompanying notes are an integral part of this statement. - 24 -