COLUMBIA, S.C. (WIS) - The Richland Two School Board has decided how the district will spend its nearly $17 million surplus from the last budget year.
In the Jan. 7 meeting, board members approved a proposal to give employees a bonus, among other things.
Every full-time employee of the district, whether a teacher or another staff member, will receive a one-time $1,000 bonus. That will account for about $4.1 million of the surplus.
Teachers and media center coordinators will also receive $25 per student to purchase classroom supplies, media supplies and resources, and to fund instructional initiatives. That will amount to about $1.5 million, the district said.
Another $3.5 million will go into the district’s Building Fund “to help lessen the impact on taxpayers” for their funding of capital improvement projects. It’s not clear if that means taxes for residents in the district will go down, or if the taxes for current projects will not last as long as originally planned.
The rest of the surplus -- about $7.8 million -- will rollover into the Fund Balance for the next budget year, the district said.
District officials said the large surplus came from a combination of spending less than the allocated budget in 2018-19, as well as getting more revenue than expected.