SCHOOL DISTRICT OF CLAYTON BALANCE SHEET - GOVERNMENTAL FUNDS June 30, 2025 General Fund Special Revenue Fund Debt Service Fund Capital Projects Fund Total Governmental Funds ASSETS Cash and investments $ 33,853,624 $ 4,848,718 $ 6,089,732 $ 3,754,764 $ 48,546,838 Receivables Property taxes - net of allowance for uncollectibles of $2,340,348 17,828,131 35,590,197 8,509,009 4,187,058 66,114,395 Sales taxes 328,346 197,008 - - 525,354 Grants 132,508 113,799 - - 246,307 Other receivables 155,320 32,218 22 114 187,674 Inventories 94,127 - - - 94,127 Prepaid items 512,719 - - - 512,719 Total assets $ 52,904,775 $ 40,781,940 $ 14,598,763 $ 7,941,936 $ 116,227,414 LIABILITIES, DEFERRED INFLOWS OF RESOURCES AND FUND BALANCES LIABILITIES Accounts payable $ 771,571 $ - $ 299 $ 914,140 $ 1,686,010 Accrued payroll and payroll taxes 17,406 119,890 - - 137,296 Unearned revenue 205,228 70,900 - - 276,128 Total liabilities 994,205 190,790 299 914,140 2,099,434 DEFERRED INFLOWS OF RESOURCES Deferred property taxes 17,801,695 35,557,957 8,500,151 4,181,682 66,041,485 Deferred grants 75,591 87,470 - - 163,061 Deferred other 571 - - - 571 Total deferred inflows of resources 17,877,857 35,645,427 8,500,151 4,181,682 66,205,117 FUND BALANCES Nonspendable Inventories 94,127 - - - 94,127 Prepaid items 512,719 - - - 512,719 Restricted Grants 132,508 113,799 - - 246,307 Teachers salaries and benefits - 4,831,924 - - 4,831,924 Debt service - - 6,098,313 - 6,098,313 Assigned Other capital projects - - - 2,846,114 2,846,114 Student activities 662,462 - - - 662,462 Unassigned 32,630,897 - - - 32,630,897 Total fund balances 34,032,713 4,945,723 6,098,313 2,846,114 47,922,863 Total liabilities, deferred inflows of resources and fund balances $ 52,904,775 $ 40,781,940 $ 14,598,763 $ 7,941,936 $ 116,227,414 The accompanying notes are an integral part of this statement. - 22 - SCHOOL DISTRICT OF CLAYTON RECONCILIATION OF THE GOVERNMENTAL FUNDS BALANCE SHEET WITH THE DISTRICT-WIDE STATEMENT OF NET POSITION June 30, 2025 Amounts reported for governmental activities in the Statement of Net Position are different because: Total fund balance - governmental funds $ 47,922,863 Capital assets and right-to-use assets used in governmental activities are not financial resources and therefore are not reported as assets in the governmental funds. The cost of capital assets and right-to-use assets is 173,026,274 Accumulated depreciation/amortization is (71,510,714) 101,515,560 Certain property taxes, grants, and other receivables will be collected this year, but are not available soon enough to pay for the current period's expenditures, and therefore are deferred in the funds. 1,782,774 An internal service fund is used by management to charge the costs of insurance to individual funds. The assets and liabilities of the internal service fund are included in governmental activities in the statements of net position. 2,352,975 Deferred outflows of resources are not due and payable in the current period and therefore are not reported in the funds Deferred pension contributions 14,039,375 Deferred OPEB 2,310,709 16,350,084 Deferred inflows of resources related to pension deferrals are not reported in governmental funds. (3,503,828) Deferred inflows of resources related to OPEB deferrals are not reported in governmental funds. (1,721,040) Long-term liabilities, including bonds payable, are not due and not payable in the current period and therefore are not reported as liabilities in the funds. Long- term liabilities at year end consist of: Bonds payable 29,654,473 Leases, net 2,235,000 Accrued interest on the bonds 356,152 Compensated absences 348,831 Net pension liability 42,318,077 OPEB liability 6,835,957 (81,748,490) Net position of governmental activities $ 82,950,898 The accompanying notes are an integral part of this statement. - 23 -

The assets and liabilities of the internal service fund are included in governmental activities in the statements of net position. 2,352,975 Deferred outflows of resources are not due and payable in the current period and therefore are not reported in the funds Deferred pension contributions 14,039,375 Deferred OPEB 2,310,709 16,350,084 Deferred inflows of resources related to pension deferrals are not reported in governmental funds. (3,503,828) Deferred inflows of resources related to OPEB deferrals are not reported in governmental funds. (1,721,040) Long-term liabilities, including bonds payable, are not due and not payable in the current period and therefore are not reported as liabilities in the funds. Long- term liabilities at year end consist of: Bonds payable 29,654,473 Leases, net 2,235,000 Accrued interest on the bonds 356,152 Compensated absences 348,831 Net pension liability 42,318,077 OPEB liability 6,835,957 (81,748,490) Net position of governmental activities $ 82,950,898 The accompanying notes are an integral part of this statement. - 23 - 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 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 -

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 - SCHOOL DISTRICT OF CLAYTON STATEMENT OF NET POSITION - PROPRIETARY FUNDS June 30, 2025 Business-type activities - Enterprise fund Governmental activities - Internal service fund Total ASSETS Current assets Cash and equivalents $ 3,132,609 $ 2,722,866 $ 5,855,475 Other receivables 4,552 - 4,552 Noncurrent assets Capital assets 122,489 - 122,489 Total assets 3,259,650 2,722,866 5,982,516 LIABILITIES Current liabilities Accounts payable 448 369,891 370,339 Accrued payroll and payroll taxes 17,519 - 17,519 Unearned revenue 14,399 - 14,399 Total current liabilities 32,366 369,891 402,257 NET POSITION Net investment in capital assets 122,489 - 122,489 Unrestricted 3,104,795 2,352,975 5,457,770 Total net position $ 3,227,284 $ 2,352,975 $ 5,580,259 The accompanying notes are an integral part of this statement. - 26 -

SCHOOL DISTRICT OF CLAYTON STATEMENT OF NET POSITION - PROPRIETARY FUNDS June 30, 2025 Business-type activities - Enterprise fund Governmental activities - Internal service fund Total ASSETS Current assets Cash and equivalents $ 3,132,609 $ 2,722,866 $ 5,855,475 Other receivables 4,552 - 4,552 Noncurrent assets Capital assets 122,489 - 122,489 Total assets 3,259,650 2,722,866 5,982,516 LIABILITIES Current liabilities Accounts payable 448 369,891 370,339 Accrued payroll and payroll taxes 17,519 - 17,519 Unearned revenue 14,399 - 14,399 Total current liabilities 32,366 369,891 402,257 NET POSITION Net investment in capital assets 122,489 - 122,489 Unrestricted 3,104,795 2,352,975 5,457,770 Total net position $ 3,227,284 $ 2,352,975 $ 5,580,259 The accompanying notes are an integral part of this statement. - 26 - SCHOOL DISTRICT OF CLAYTON STATEMENT OF REVENUES, EXPENSES AND CHANGES IN NET POSITION - PROPRIETARY FUNDS Year ended June 30, 2025 Business-type activities - Enterprise fund Governmental activities - Internal service fund Total Operating revenues Contributions $ - $ 5,992,166 $ 5,992,166 Rents 191,916 - 191,916 Tuition and fees 947,647 - 947,647 Other - 69,562 69,562 Total operating revenues 1,139,563 6,061,728 7,201,291 Operating expenses Salaries 553,652 - 553,652 Benefits 167,835 - 167,835 Purchased services 48,197 - 48,197 Supplies 27,074 - 27,074 Claims expenses & fees - 5,652,215 5,652,215 Depreciation 19,569 - 19,569 Total operating expenses 816,327 5,652,215 6,468,542 Operating income 323,236 409,513 732,749 CHANGES IN NET POSITION 323,236 409,513 732,749 Net position at July 1, 2024 2,904,048 1,943,462 4,847,510 Net position at June 30, 2025 $ 3,227,284 $ 2,352,975 $ 5,580,259 The accompanying notes are an integral part of this statement. - 27 -