JCPS General Fund Balance Grows To $15.9 Million

SMITHFIELD — Johnston County Public Schools ended the 2025-26 fiscal year with nearly $15.93 million in its General Fund balance, an increase of about $1.87 million from the previous year.

The figures were presented to the Johnston County Board of Education during its Oct. 13 meeting as part of the district’s annual financial audit.

The General Fund balance stood at $15,930,075 on June 30, compared with $14,059,279 one year earlier. It was $13,072,738 two years ago.

During the most recent fiscal year, General Fund revenues totaled approximately $110.84 million while expenditures were about $108.63 million.

The audit said increased appropriations from Johnston County accounted for the majority of the increase in General Fund revenue.

County Commissioners provided $110 million for school operations during the 2025-26 fiscal year.

For the current 2026-27 fiscal year, county funding for school operations increased to $116.3 million.

JCPS has assigned $3,558,756 of its General Fund balance toward the 2026-27 budget.

After subtracting that amount, along with $414,735 in prepaid expenses and $88,161 restricted under state law, the audit lists $11,868,423 as the remaining General Fund balance available for appropriation.

The audit by Anderson Smith & Wike PLLC reported no material weaknesses or significant deficiencies in the district’s financial controls.

Federal grant funding dropped sharply during the year as pandemic-era education funding expired.

Federal Grants Fund revenue fell from approximately $41.52 million in 2024-25 to $19.45 million in 2025-26, a decrease of about 53 percent.

School food service received approximately $17.9 million in federal meal reimbursements during the year, along with another $1.7 million in federal food commodities.

The audit covers the fiscal year that ended June 30, 2026.