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Anderson School District 3 gets about $400,000 in delinquent property taxes; board may shift funds to building account
Summary
District finance staff reported that an unexpected delinquent-property-tax allocation of about $400,000 — the result of settled pipeline litigation — fell inside the 45‑day cutoff and will be credited to FY24–25, improving the district's ability to meet a $520,725 fund‑balance target and to make a transfer to the building fund as early as September.
The Anderson School District 3 board heard a first‑month financial update in which staff reported revenues exceeded expenditures by $383,264 through the end of July and flagged a possible boost to the district building fund from an unexpected tax allocation.
Mr. Matthew Moore, presenting the general‑fund report, said the district needs $520,725 to reach its goal of a 25% fund balance for the coming fiscal year and expects to meet that target once all prior‑year receipts and final closeouts are recorded. He told the board that "we received an unexpected about $400,000" in delinquent property‑tax payments after long‑running litigation over pipeline exemptions was settled at the county level, and that amount fell inside the district's 45‑day accounting cutoff and therefore will be credited to FY24–25.
The timing, Moore said, makes it possible for the district to request a transfer to the building fund "either in September, October like we've done in years past," depending on final closeouts and auditors' timing. The district is still working with un‑audited figures for the prior year and will report final numbers when available.
Moore also reviewed recent sales‑tax receipts and a Department of Revenue audit. He told the board that recent collections have outpaced expectations and that the sales‑tax audit concluded with the district found in compliance with the sales‑tax referendum; the audit letter and attached report were included in the meeting appendix.
Board members asked whether the property‑tax windfall affected the source of a prior transfer; Moore clarified that the transfer in question had come from sales‑tax receipts. No formal motion to transfer funds was taken at the meeting; staff said they would aim to finalize numbers and, if appropriate, bring a transfer request to the board in September or October.
