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Richland 01 board approves first reading of $426.5 million FY2026–27 budget; district released from fiscal caution
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Summary
At a special called meeting April 14, the Richland 01 board unanimously approved the first reading of the fiscal year 2026–27 general fund budget totaling $426,490,844 and heard that the South Carolina Department of Education has released the district from a fiscal caution designation.
At a special called meeting Tuesday evening, the Richland 01 board unanimously approved the first reading of the fiscal year 2026–27 general fund budget and heard that the district was released from the South Carolina Department of Education's fiscal caution designation.
Chair opened the meeting at 5:31 p.m. at the Stevenson Administration Building and read required meeting notices. "Pursuant to the Freedom of Information Act, all persons, organizations, and media outlets as requested have been notified of the time, date, place, and agenda of this meeting," the Chair said. The Chair also announced that "the district was informed, by the South Carolina Department of Education that it has released us from the fiscal caution designation." The Chair thanked district staff, singling out Dr. Walker and Miss Matthews Hazel for their work on the district's recovery plan.
Miss Bing presented the administration's first reading of the FY2026–27 general fund budget. She said the administration recommends first-reading approval of "the fiscal year 26 27 general fund budget of $426,490,844." Miss Bing told the board that to comply with a state-mandated minimum teacher salary increase to $50,500 and to maintain competitiveness in the teacher market, the administration recommends an average 2% adjustment to the teacher salary schedule, which would result in a new minimum salary of $51,102. She also described a 2% step increase for teachers, non-teaching staff and bus drivers and a net increase for utilities to maintain guaranteed savings through the district's energy savings program with Schneider Electric.
On revenue assumptions, Miss Bing said final state revenue allocations are anticipated in June and that house budget projections were used for the first reading because senate projections were not yet available from the South Carolina Department of Education. Citing the limits established by Act 388 (June 2006), she described the district cap on operating millage increases as equal to the Consumer Price Index (2.63%) plus population growth (0.10%) for a total of 2.73%. She said, under a no-mill-increase scenario from Richland County, the district is projected to receive $5,987,776 in new revenue and stated an estimate for district revenue under a no-mill increase of $279,853,810.
After the presentation the Chair asked for the board's pleasure. Commissioner Devine moved to approve the first reading of the budget; Commissioner Bishop seconded. The board voted manually and the Chair declared the motion unanimous, stating, "The first reading of the budget passes." Earlier in the meeting the board also approved the meeting agenda on a unanimous voice vote (motion moved by Commissioner Weston and seconded by Commissioner Clyburn).
Next steps noted by administration: final state revenue allocations are expected in June, at which point the administration said it will make any necessary final adjustments to the budget. The board adjourned the special called meeting without objection.
