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Fort Mill board hears how new state funding formula and House amendment affect local budget
Summary
District finance staff warned a proportionate‑share state funding formula and charter weighting changes reduced projected state aid; the board discussed publishing a public‑hearing budget and possible millage adjustments after a House amendment to alter virtual‑charter weights passed earlier the same day.
Miss Lordo, the district finance presenter, gave a detailed briefing on how the state’s new student‑weighting, proportionate‑share model has changed allocations for traditional districts. She told the board the most recent House Ways and Means projections reduced the new statewide appropriation to about $112 million and that the formula’s weighting for charter students had produced disproportionate shifts in funding. "We have collected total revenue of $197,145,547," she said when summarizing…
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