Board approves Minority Business Enterprise utilization plan; finance reports low-risk audit score

Finance Director Cherry Smith told the board the general fund revenue picture through June 2025 showed $66,173,520 in revenue received (about 98% of budget) and year-to-date expenditures of $65,000,002.46 (about 95% of budget), leaving a variance of roughly $927,000.

“We received our subrecipient risk assessment score from the South Carolina Department of Education… our overall risk score is 10 for fiscal year 23–24, which is considered low risk and is the best score a school district can receive,” Smith said, describing a 10-category state assessment of fiscal and programmatic controls.

Smith also presented a proposed Minority Business Enterprise (MBE) utilization plan. She said the South Carolina consolidated procurement code requires districts to strive for a 10% spending goal with state-certified minority businesses on controllable procurements and to report semiannually to the board.

A trustee moved to approve the proposed MBE utilization plan; the motion was seconded. The board voted to approve the plan unanimously.

Smith noted the district is still closing fiscal-year accounts and monthly figures may adjust slightly after audit work is complete. She said July marks the start of the new fiscal year and highlighted the timing of property-tax collections and payroll cycles that affect cash flow.

The board did not take additional finance actions at the meeting.