Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Budget Finance topic
No spam. Unsubscribe anytime.
Shelley presents April financials; board readies June hearing on budget and potential bond issuance
Summary
District finance staff reported April YTD revenues of about $37.2 million and expenditures of about $35.6 million; the first-reading 2026–27 budget (balanced, no millage increase) was summarized and a public hearing and final reading were scheduled for June 8. The board also discussed SCAGO pooled bonds and a proposed mobile panic-button system.
Shelley, presenting the district's monthly financial report, told the board that as of April the district had collected about $37.2 million in revenue year-to-date, representing roughly 83.6% of the annual revenue budget, and expended about $35.6 million year-to-date (about 73.5% of the annual expenditure budget). She noted year-to-date expenditure percentages were affected by capital transfers and that operations expect revenue flow to normalize by year-end.
Shelley reviewed the 2026–27 budget data that was approved at first reading: a balanced budget with no millage increase that would require a public hearing on June 8 and final reading at that meeting. She highlighted that the budget includes increases to the teacher salary schedule and support staff adjustments.
On capital financing, Shelley provided background on the district's participation in SCAGO pooled bond issues and the mechanics of general obligation borrowing under state law, referencing 'South Carolina Section 59-71-30' for the district's capacity to issue general obligation bonds without a referendum up to 8% of assessed value. She described the way debt service millage is used to repay principal and interest and noted typical uses of proceeds such as roof and HVAC replacements.
Board members and staff also discussed a proposed mobile panic-button system under consideration at the state level. Shelley said the district had not obtained firm estimates; she referenced another district's experience and an unclear cost estimate recorded in the transcript and said the district would keep monitoring legislation and potential safety-grant funding.
Shelley indicated the district anticipates bringing a SCAGO resolution for an issuance in June and asked trustees to contact her with any follow-up questions.
