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Board hears financial reports and building-program update, including transfers from local option sales tax
Summary
The board reviewed January financials, reported building-program revenues and expenses, and discussed transferring local option sales tax receipts into the building fund to support projects including Oakill construction.
Board finance staff presented January financial statements and an update on the district building program.
Mr Thomas reviewed investment accounts and subfunds: "we've got 47 CDs with a little over 10.67 million," he said, and cited two food-service CDs totaling about $396,000. He reported the building-program subfund (502) at roughly $33.2 million in total revenues and $23.4 million in expenses to date and said bond proceeds and premiums have been largely exhausted. He described regular transfers from local option sales tax into the building program and said the district has been transferring about $600,000 per month; a figure of $1.8 million represented three months of that transfer.
The presenters also outlined that Anderson County receipts for the referenced month totaled just under $7 million and that Anderson 1's share (~33.5%) equated to roughly $2.35 million, with portions going to property tax relief and capital. Year‑to‑date revenue was reported at about $68.2 million (roughly 60% of budget) and year‑to‑date expenditures at about $62.9 million (roughly 55% of budget); a $4.3 million cash transfer affects those percentages.
Board members were told that Oakill is a major project and that transfers from local option sales tax will continue to supplement project completion. The finance presenter invited questions and offered to provide backups and further data on request; the board expected additional updates at upcoming meetings.
