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Fort Mill schools report August revenue of $21.1M, expenditures exceed revenue as district draws $4.7M from fund balance; impact fees exceed $69.1M
Summary
Finance director reported $21,119,629 in revenue and $25,837,612 in expenditures to date for Aug. 31; the district used $4,717,000 of fund balance for cash flow, vehicle tax collections exceeded $2 million for the second month, and impact fees collected totaled $69,198,180 with multi-million-dollar draws for Flint Hill construction.
Finance director Miss Lourdough told the board the Aug. 31 financial packet reflected the first full month of payroll under the new budget and that revenue to date was $21,119,629 against expenditures of $25,837,612. "Total revenue to date is $21,119,629. Total expenditures, $25,837,612," she said, explaining the district was in a month where it was drawing on fund balance for cash flow and that $4,717,000 of fund balance had been used so far.
Lourdough noted vehicle property-tax collections topped $2,000,000 for the…
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