FORT MILL, S.C. — The Fort Mill School Board met on Tuesday, March 17, to review the district’s financial standing, discuss upcoming state budget impacts on teacher salaries, and vote on significant bond resolutions.
Here is a breakdown of the key takeaways from the meeting.
District Reports Positive Cash Flow and Strong Tax Collections
During the monthly financial update, Leanne Lordo reported a strong financial position for the district through January 31, the seventh month of the fiscal year. The district is currently operating with a positive cash flow of over $50 million.
Financial Snapshot:
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Total Revenue: $188,422,415
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Total Expenditures: $137,922,650
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Positive Cash Flow: $50,499,765
A significant driver of this financial health is the strong collection of real estate taxes. The district has already collected 96.8% of its budgeted amount—totaling $58,524,280—which outpaces collections from this time last year. Additional revenue sources included $2,004,180 in vehicle taxes and $6,595,550 in Fee-in-Lieu taxes.
Impact Fee Collections See Recent Slowdown
The board also reviewed the latest figures on residential impact fees, a critical funding source for managing the area’s rapid growth.
To date, the district has collected $83,142,992 across 5,208 total units (2,981 single-family and 2,227 multi-family units). However, recent months indicate a slowdown in new residential additions. In February 2026, the district added just 3 single-family homes and 8 multi-family units, bringing in $255,288 in actual collections. This is a notable decrease compared to the calendar year 2024, which saw average monthly collections of $839,615. Through mid-March, only 1 single-family home and 5 multi-family units had been added.
Board Approves Bond Refinancing and IPRB Payments
In unanimously approved financial action items, Mrs. Lordo requested and received authorization for two significant bond resolutions aimed at debt management and equipment acquisition:
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$235 Million Refinancing Resolution: The board approved the refunding of up to $235,000,000 in general obligation bonds. This move will allow the district to refinance up to five outstanding bond issues, likely to secure better interest rates or terms.
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$6.025 Million for IPRB and Equipment: The board also approved the issuance and sale of up to $6,025,000 in general obligation bonds. These funds are designated to cover the annual Installment Purchase Repayment Bonds (IPRB) and ongoing equipment acquisition payments.
State Budget Could Boost Minimum Teacher Pay
Looking toward the state level, the board discussed the current progress of the South Carolina State Budget. The full House recently passed the Budget Appropriations Bill, leaning heavily on recommendations from the Ways & Means Committee.
A major highlight for the district is the proposed adjustment to the Teacher Salary Scale, which would increase the starting state minimum teacher pay by $2,000, bringing it to $50,500.
The budget now moves to the Senate, with Finance Budget Discussions scheduled for early April and a final Conference Committee Report expected by mid-May.
National Education Insights
In other business, Board Member Lipi Pratt shared insights from the recent Consortium of State School Boards Association (COSSBA) Annual Conference. The national event gathers school board members and district administrators from across the country to discuss educational innovation and local impact.
Residents interested in watching the full proceedings can view the meeting on demand via the Fort Mill School District’s YouTube channel
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