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School board approves FY‑26 tentative budget; education fund shows planned deficit spending
Summary
The Richland County School Board approved the district’s FY‑26 tentative budget on Aug. 14. The education fund projects a budgeted deficit and the district plans to include vehicle purchases and architect fees in the capital projects line; the budget will be posted for public review and a hearing held in September.
The Richland County Community School District No. 1 Board of Education voted to approve the FY‑26 tentative budget at its Aug. 14 meeting after staff reviewed fund-by-fund projections and cash balances.
The administration reported a district cash balance of $13,714,828.06 and $17 million in certificates of deposit, for total assets of $31,422,573.78 at the end of the prior month. The education (Ed) fund is budgeted with a deficit of roughly $674,262 under the conservative revenue assumptions presented; staff said that even with that deficit the projected Ed Fund balance would remain about $25.6 million at year end under the model shown.
Other fund highlights presented by staff included a small positive projection in operations & maintenance (Fund 20), a roughly $297,743 balance in debt service (Fund 30), and a transportation fund projection of $960,920 (the district does not plan to buy buses this year). Staff noted the capital projects/1% sales-tax fund includes architect and planning fees related to a possible athletic complex.
The finance presentation said corporate personal property replacement tax (CPPRT) numbers from the state remain an estimate and the district used conservative assumptions; staff said the final CPPRT figure could increase projected revenue. Administration also said vehicle purchases that are not student buses must be paid from the Ed Fund, and budgeted four replacement passenger vehicles in the tentative budget.
Board members moved and approved the tentative budget by roll call. The district will post the tentative budget online and hold a public budget hearing at the start of the September board meeting.
Vote: Motion to approve FY‑26 tentative budget by Board member Dennis Anderson; second by Cindy Lockley. Roll‑call votes recorded as Yes by Dennis Anderson, Snyder, Coker, Wilson, Bailey, Jake Anderson and Lockley.
