Richland 2 reports $312.4 million in third‑quarter revenue; reading‑coach shortfall flagged

Nancy Williams, the district’s Senior Chief Financial Officer, told the Richland 2 Board of Trustees on May 13 that general‑fund revenue through March 31 totaled $312,391,664, or 80.77% of the year’s anticipated receipts.

Williams said expenditures for the general fund stood at $261,196,200 and, including open purchase orders (encumbrances), the district had used about 71% of its available general‑fund budget. She said Education Improvement Act (EIA) revenue received to date totaled $29,843,796 with expenditures “over $27.9 million.”

Williams drew the board’s attention to fund 335, the EIA line for reading coaches, which showed a negative balance of $350,656 as of March. She said the state provides a flat amount for reading‑coach funding while mandated salary increases have raised local costs; the shortfall would likely require a transfer from the general fund at fiscal‑year end unless the state provides additional funding.

On capital projects, Williams said combined bond proceeds, premiums and interest produced a budget of roughly $519 million; expenditures to date totaled about $471 million, leaving about $48.4 million available for encumbrances, much of which is already committed through purchase orders. She also reported the district’s last 8% bond issuance (fund 05/22) had a budgeted $20 million, with about $2.8 million spent by March and roughly $17.2 million remaining, some of which is encumbered.

Williams noted the school nutrition (600) fund showed an over‑encumbrance that will be resolved by year‑end and summarized other special‑revenue funds, saying federally funded lines (2xx) were on track.

Board members asked several follow‑ups. Mrs. Porter asked whether additional Impact Aid receipts were expected; Williams said more revenue was anticipated. Mrs. Washington asked about a negative balance tied to athletic facilities and was told Williams would check whether the line was over‑encumbered. Board members pressed Williams and Dr. Moore for clarity about whether the reading‑coach shortfall would be a recurring general‑fund obligation; Williams said the state mandate and flat state funding make future pressure possible, and the board discussed pending state‑level changes to funding formulas.

Dr. Moore and board members referenced a recent House action that added a one‑year proviso to adjust the aid formula and established a committee to study classroom funding; Williams cautioned that year‑to‑year appropriations are difficult to predict and the situation could change as the bill moves to conference with the Senate.

Why it matters: the presentation shows the district’s near‑term spending capacity, highlights a specific state funding gap for reading coaches that may shift costs to local resources, and notes large capital commitments that remain largely encumbered.

What’s next: Williams and district staff said they will continue to monitor revenue and encumbrances through the end of the fiscal year and will report updates at future board meetings.