Finance committee flags Crestwood field cost increase; CFO reports steady midyear revenue and expenditures

The Sumter School District finance committee reported on March 10 that cost estimates for the Crestwood High School football field have risen significantly and that the district’s midyear financial picture remains consistent with budget patterns for this time of year.

Tara Johnson, reporting for the finance committee, said the project was initially estimated at about $2,000,000 but that a more complete invoice review showed the current spend was closer to $4,700,000. The committee discussed a requested additional $3,500,000 to complete the requested scope; combining the revised spend and the additional request was described in the committee report as bringing the overall project “in the neighborhood of about $8,000,000.”

Chief Finance Officer Satika Spearman gave the board a February 2025 general fund update. She said local and state revenues were roughly 51% of projected totals as of that period and that some line items — including interest on investments — had exceeded projections. Spearman told trustees the district had collected about $86,646,054 of the general fund budget and that overall collections represented about 52% of budget to date.

On expenditures, Spearman said salary-related lines were roughly 55–60% spent, which she described as “typical” for February, and noted a $100,000 estimate for terminal leave payouts. She also reported an actual property insurance expense lower than estimated and that the district’s insurance representative had presented nearly $200,000 in potential credits for next year; she said the procurement office could put the coverage out to bid to seek additional savings.

Other capital notes in the finance report included that Maywood Middle School’s project was essentially complete and coming in under budget by roughly $100,000. The finance committee meeting included a review of capital bonds by location and a discussion of projects coded to capital project accounts.

Why this matters: The Crestwood estimate increase affects how bond and capital funds will be allocated and could require re-prioritizing other projects or identifying additional funding. The finance committee’s review and the CFO’s midyear report are part of the board’s fiscal oversight and set the context for any future requests for additional appropriations or bond reallocations.

Next steps: The finance committee and administration will continue to refine invoices and prioritize outstanding items; the $3.5 million figure was described as an estimate that could change once a finalized prioritized list is produced.