Florence 3 finance update: general fund figures and fund-balance usage reported
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Summary
District finance staff presented the general fund status and budget figures as of Dec. 31, 2024, including the approved FY24-25 budget and planned use of fund balance.
The Florence County School District 3 board received a finance update on Jan. 20, 2025, detailing the district’s general fund budget and fund-balance usage for fiscal year 2024–25.
Finance staff reported that the approved general fund budget for FY 2024–25 is $34,142,053. The board previously approved using $2,414,000 of fund balance as part of that budget. For FY 2024–25, $1,506,000 was requested from the use of fund balance. Finance staff also reported a carryover balance of $163,891 from FY 2023–24 allocated for band instruction, instruments, repairs and supplies. Combining those figures, the presenter reported a total general fund by object of $38,225,944 as of Dec. 31, 2024.
Board members did not raise questions on the item during the presentation; the reports are linked to the board agenda and posted on the district website, the presenter said.