Finance director says district to issue remaining bond proceeds, audit underway
September 23, 2025 | York 02, School Districts, South Carolina
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The finance director updated the board on the district's fiscal status and bond issuance plans.
Mister Love reported that year‑to‑date receipts total $10.9 million while expenditures are $24.267 million, a seasonal pattern the director attributed to tax billing and state apportionment schedules. Love said the district has begun year‑end audit work and must submit its audit to the state by Dec. 1; he expects the district's audit to be ready earlier.
On bond funding, Love said the district will roll over and refund a short-term note and will issue the final $36 million tranche of a planned $156 million bond to complete construction of the high school as currently scoped. He said the district's plan is to continue a 12‑month BAN (bank note) strategy and delay issuing the full long‑term bonds until the following year to retain flexibility while construction costs finalize.
Provenance: finance report presented near the end of the meeting during the finance section.
Mister Love reported that year‑to‑date receipts total $10.9 million while expenditures are $24.267 million, a seasonal pattern the director attributed to tax billing and state apportionment schedules. Love said the district has begun year‑end audit work and must submit its audit to the state by Dec. 1; he expects the district's audit to be ready earlier.
On bond funding, Love said the district will roll over and refund a short-term note and will issue the final $36 million tranche of a planned $156 million bond to complete construction of the high school as currently scoped. He said the district's plan is to continue a 12‑month BAN (bank note) strategy and delay issuing the full long‑term bonds until the following year to retain flexibility while construction costs finalize.
Provenance: finance report presented near the end of the meeting during the finance section.
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