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Finance committee hears March 31 fiscal update; general fund balance holds about $61.3 million
Summary
CFO Shatika L. Spearman told the Sumter School District Finance Committee the district is tracking roughly on pace for the fiscal year, reporting $118.18 million in revenues year-to-date, projected general fund year-end balances, and details on food service carryover funds.
Sumter School District finance committee chair Tara Couser Johnson on Thursday received an update from Chief Financial Officer Shatika L. Spearman on the district’s finances through March 31, 2025.
Spearman said year-to-date local revenue totals $33,505,671 and projected local revenue at fiscal year-end is $37,877,654. She reported total year-to-date revenues of $118,175,562, representing roughly a 72% collection rate across revenue sources as of March 31. “To date, our total year to date local revenue is $33,505,671,” Spearman said. She added the district expects to collect the full amounts the state will distribute later in the fiscal year.
The report broke down several major lines: state aid to classrooms is about $61 million collected of an $88 million estimate…
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