Anderson School District 3 board approves transfer to building fund

The Anderson School District 3 board approved a transfer from the general fund to the district building fund during its Sept. 8 meeting to meet a target 25% unassigned fund balance for the coming fiscal year. The transfer was described by the district finance presenter as the excess needed after retaining roughly $520,725 to meet the 25% threshold.

Mr. Moore presented the district’s year-to-date general fund picture for August and explained that, as typical early in the fiscal year, expenditures exceed revenues until property-tax receipts arrive in January. He said the district expects the timing of property-tax and sales-tax receipts to normalize in later months and that strong collections from the prior year provided a favorable starting balance for debt service.

On the transfer, Mr. Moore asked the board to move approximately the amount the presentation recorded verbally (the transcript records figures in inconsistent formats, including "$816,79.87" and related variants). Board members asked procedural questions about whether funds would remain in the building fund without additional board approval; Mr. Moore confirmed any reallocation would require returning to the board. A motion to transfer the cited amount was made, seconded and approved by the board.

The board did not place detailed vote tallies in the meeting transcript for the transfer motion. Board members also noted a separate special-revenue account related to a state grant (referenced in the meeting as a $5 million program that was fronted in a $1.25 million tranche) is held separately and will be tracked in quarterly reports.

Next steps: The transfer will be recorded in the 2024–2025 fiscal year accounting as described by the district finance presenter. The board did not provide a printed tally in the transcript; any formal minute entry should be consulted for the official numeric record.