TIMMONSVILLE, SC (WBTW) – Florence School District Four’s Certified Public Accountant gave an update on the district’s budget at its meeting on Tuesday.

The district’s accountant, Larry Finney, said through March 31 of this year, the district spent $4,263,000 of the $4,684,000 in its general fund.

“Your revenues are about $420,000 higher than your expenditures,” Finney told the school board. “In addition to that, your cash balances are around $2.3 million between what’s at the local government investment pool, and what’s sitting in your bank account.”

Finney said there was a slight increase in the district’s fund balance because of the one-time property tax millage last year.

“You have essentially received about all of your property tax revenue that you’re going to receive for the year,” said Finney. “At this time of year with all of our school district clients, their revenues are higher than their expenditures.”

He said from now until the end of the year, the district’s expenditures will increase, but its revenue will not increase at the same pace.

“I still think that when we get to the end of the year, your expenditures in general fund are going to end up higher than your revenues,” he said.

Finney said the district had more costs in the 2017-2018 school year than in than typical years.

“One of the increases that we’re seeing in your general fund expenditures is related to repair and maintenance,” he told the school board. “You’ve had quite a few more costs this year than you’ve had in prior years to the tune of a little over $100,000.”

He said the extra maintenance, and salaries for two superintendents played a role in the increases in the general fund expenditures.

Finney said he is still working to determine the budget for the 2018-2019 school year.

“All of the regulatory filings are caught up,” Finney said during his budget update. “Whether it’s retirement, payroll taxes, whatever it is,” he continued. “By the end of May, we should have a good forecast, and we also should be making some good headway on the budget for 2018-2019.”

Superintendent, Dr. Rechel Anderson, declined comment with News13 after the meeting.