SCHOOL DISTRICT OF CLAYTON STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES - GOVERNMENTAL FUNDS Year ended June 30, 2025 General Fund Special Revenue Fund Debt Service Fund Capital Projects Fund Total Governmental Funds Revenues Local $ 30,682,463 $ 30,903,035 $ 7,705,321 $ 5,223,057 $ 74,513,876 County 152,039 201,794 147,970 54,731 556,534 State 338,091 1,488,621 - - 1,826,712 Federal 422,499 137,497 178,251 - 738,247 Other 14,600 - - 45,014 59,614 Total revenues 31,609,692 32,730,947 8,031,542 5,322,802 77,694,983 Expenditures Instruction 2,900,882 32,727,714 - 1,043,599 36,672,195 Attendance and guidance 1,076,534 1,592,498 - - 2,669,032 Health services 771,221 211,125 - 4,995 987,341 Improvement of instruction and professional development 410,979 1,420,098 - - 1,831,077 Media services 460,164 659,606 - 1,799 1,121,569 Board of Education services 263,051 - - - 263,051 Executive administration 1,998,689 1,356,989 - 242,074 3,597,752 Building level administration 1,160,239 1,789,335 - 18,055 2,967,629 Operation of plant 8,786,759 - - 3,037,670 11,824,429 Security services 493,077 - - 639,902 1,132,979 Nonreimbursable transportation 324,278 - - - 324,278 Food services 1,186,086 - - 10,555 1,196,641 Business services 1,082,951 - - 34,842 1,117,793 Central office support services 332,304 89,442 - 1,311 423,057 Adult/community programs 1,391,829 3,783 - 6,004 1,401,616 Debt service Principal retirements - - 6,110,000 525,000 6,635,000 Interest and other charges - - 1,279,008 66,600 1,345,608 Total expenditures 22,639,043 39,850,590 7,389,008 5,632,406 75,511,047 Revenues over (under) expenditures 8,970,649 (7,119,643) 642,534 (309,604) 2,183,936 Other financing sources (uses) Transfers (10,555) - - 10,555 - (10,555) - - 10,555 - Net Change in Fund Balances 8,960,094 (7,119,643) 642,534 (299,049) 2,183,936 Fund balances at July 1, 2024 25,072,619 12,065,366 5,455,779 3,145,163 45,738,927 Fund balances at June 30, 2025 $ 34,032,713 $ 4,945,723 $ 6,098,313 $ 2,846,114 $ 47,922,863 The accompanying notes are an integral part of this statement. - 24 -

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, 2025 Total net change in fund balance - governmental funds $ 2,183,936 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 5,000,759 Capital outlay (5,040,806) 40,047 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. 1,810,078 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 (11,703) 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). 14,431 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 505,529 Repayment of bond principal 6,110,000 Lease principal 525,000 7,140,529 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. 76,724 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. 409,513 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. (213,615) The fund financial statements do not recognize the pension liability. The decrease is recognized in the Statement of Activities. 871,176 Change in net position of governmental activities $ 12,321,116 The accompanying notes are an integral part of this statement. - 25 -