School board reviews December finances, flags March 1 $10M-plus bond payment
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Summary
Kershaw County leaders reviewed December 2025 finances and special funds, noting strong year‑end tax collections but reminding the board that a 2018 referendum bond payment of just over $10 million is due March 1, which will affect cash timing and reserves.
KERSHAW COUNTY — The school board on Jan. 27 received a December 2025 financial summary showing year‑end tax receipts bolstering the district’s cash position, but officials cautioned that timing and a large bond payment will test reserves.
“March 1 is our due date for our 2018 referendum bond payments, which is a little over $10,000,000,” said Mr. Willard while presenting the district’s special fund and debt‑service reports. He noted nearly $11 million in debt‑service revenue for the month and roughly $17.6 million year to date, but emphasized that scheduling of tax collections and payments can create short‑term imbalances.
The presentation showed general‑fund revenues growing in December as ad valorem property taxes and fee‑in‑lieu receipts arrived. Mr. Willard said the district’s revenue and expense position compares favorably to the same point last year and that the general fund is pacing near 44% usage through the fiscal midpoint, which he described as where the district would expect to be.
He pointed out a lag in one state funding line tied to charter‑school enrollment adjustments: the December figures do not yet include the 40th/fifth‑day adjustments that typically post with January payments. “We’re starting to see that take a little bit of an effect,” he said, calling the discrepancy small but worth monitoring.
Other items in the financial packet included student‑activity funds, rental account receipts, and food‑service participation. Mr. Willard said student activity and rental accounts were consistent year‑to‑date; food‑service participation dipped in December because of the short month, and staff expect a rebound in January.
Board members asked clarifying questions after the presentation and were told staff will continue to monitor collections and the timing of payments as March’s bond obligation approaches. The report concluded with an invitation for questions and further review as the district prepares budget discussions for the coming year.