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Finance director reports January revenue at 41% of budget; expenditures above revenue in January
Summary
Director of finance Shatika Spearman presented the district's general fund revenue and expenditure through Jan. 31, 2025, showing roughly 41% revenue collection and about 48% expenditures to date; staff discussed ESSER liquidating allocation and a $500,000 subscription plan.
The Sumter School District's Director of Finance, Shatika Spearman, reported to trustees on Feb. 10 that general-fund revenue collections through Jan. 31, 2025 were approximately 41% of the budget and that expenditures through the same date were about 48% of the budget.
Spearman provided line-item percentages cited to the board: local revenue collections about 24.39%, state aid classroom funding collected at about 48% (state aid figure quoted as roughly $42.9 million with $3.8 million collected), impact-aid collections at about 59%, and an overall federal and other transfers total cited during the presentation. She said the district has claimed about $2.8 million in indirect costs and that total general-fund revenue to date was reported verbally as approximately $67,000,002.44 (as presented at the meeting).
On expenditures, Spearman said salary and overtime lines were running at about 60.13% for overtime specifically, while fringe benefits and retirement-related lines were near 50%. Total expenditures presented aloud were about $80,000,007.23, which she said represented approximately a 48.34% spend against budget. She reminded trustees the district had budgeted use of fund balance during adoption (an approved use of fund balance cited at roughly $3,088,267).
Spearman described several specific lines: property insurance increased slightly above budgeted estimates; energy costs were about 47% spent; and pupil activity lines were at about 51% spent. When asked, she explained legal-services expenditures cover districtwide contracts with multiple law firms and were at approximately 37% of that line.
On ESSER (federal pandemic-relief) funds, Spearman said the district secured a "liquidating allocation" to claim contracts and subscriptions that extend beyond Sept. 30, 2025 but not beyond June 30, 2026. She said the district identified about $500,000 in subscriptions and contractual items that could be paid through the liquidating allocation and that required additional federal paperwork; those purchases had contract documentation submitted and staff expected approval for the claims.
Trustees asked for additional reporting: an itemized status of prior "8%" bond projects, an update from food service on equipment purchases tied to available funds, and more detailed timelines for bond-funded projects. Spearman and administration agreed to provide follow-up reports to the board.
Sources: Finance presentation by Shatika Spearman and Q&A during the Feb. 10, 2025 Sumter School District Board meeting.
