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Williamsburg County School District CFO reports revenue on track, urges caution on fund balance
Summary
CFO Mr. Street told trustees local revenue is $12.1 million and state revenue $16.4 million; expenditures are running slightly below last year at 68% of budget, but the district expects to draw on fund balance and trustees asked for a detailed line-item budget.
Williamsburg County School District Chief Financial Officer Mr. Street told the board that the district’s third-quarter revenues and expenditures are generally in line with expectations but highlighted ongoing concerns about fund-balance use.
Mr. Street reported local revenue of $12.1 million (about 29% of the total revenue budget) with roughly 98% collected, state revenue of $16.4 million (39% of the budget) with 65% collected, and transfers from other funds of roughly $165,000 (under 1%). He noted that $3.8 million of the budget is a transferable fund balance used to balance the budget and that some revenue items (for example, food service and grant-related reimbursements) occur later in the fiscal year.
On the expenditure side, Mr. Street said salaries and benefits total $23.6 million, representing roughly 82% of year-to-date expenditures; purchase services are $3.7 million (13%) and supplies $1.3 million (5%). Overall year-to-date expenditures are about 68% of the budget, a few percentage points lower than the same point last year.
When trustees asked whether teachers still receive a supply stipend, Mr. Street confirmed a $400 allotment per teacher is state-funded and intended primarily for classroom setup and instructional materials; he said districts commonly still request voluntary parent donations for consumable items such as pencils.
Board members pressed for clarity on the fund balance. Mr. Street said an exact figure for year-to-date fund-balance use will be available after end-of-year transfers are made but estimated an ending fund balance around $12 million as of June 30 and cautioned that continued one- to two-million-dollar draws annually would be unsustainable.
A trustee requested a detailed, location-by-location line-item budget so the board can spot trends; Mr. Street agreed to provide that report. The board also heard an update that district leaders recently met with state education officials to request additional assistance and are awaiting the state response.
