LAKE CITY, SC (WBTW) – A new budget report shows Florence School District Three has exceeded its goals in improving the district’s financials.
The report- which was presented by Jim Lawrimore of Lawrimore & Lawrimore- shows the school had a fund balance total of $4,412,602 at the end of the 2018-19 school year.
That’s an improvement over the $1,279,757 budget deficit the district saw in 2016.
A 2017 South Carolina law says all school districts must have at least 8.33 percent of its total yearly expenditure in its fund balance.
Florence School District Three has 16.3 percent- surpassing its goal of 15 percent.
“I am humbled that we have been able to build the fund balance while maintaining a focus on teaching and learning,” Superintendent Laura Hickson said.
The district was able to accomplish this by adhering to a cost-cutting plan designed to ease the district’s deficit.
A press release says schools and departments delayed purchases when possible. Employee travel was reduced, with the district instead opting to hold professional development programs in-house.
The release also says some staff vacancies were left unfilled, with responsibilities being absorbed by other employees.