Charleston County School District’s (CCSD) Board of Trustees unanimously passed the second reading of a balanced FY2021 Budget on Wednesday night, including $541,425,487 for the General Operating Fund (GOF) that does not require a tax millage increase.
Due to economic conditions created by the COVID-19 pandemic, neither the State’s budget nor the FY2021 CCSD budget passed tonight include a cost-of-living-adjustment (COLA) or a step increase for staff members. However, pending future decisions made by the state legislature, a step increase has been included for teachers once the state’s FY2021 budget is finalized this fall.
Despite projected losses in revenue, the district took two major steps to balance the FY2021 GOF budget. First, CCSD is able to apply $10.7 million in funds saved from the FY2020. Second, the district is using $11.15 million from its fund balance (reserves); more than $100 million is projected to remain in the fund balance.