Richland 2

ANNUAL COMPREHENSIVE
FINANCIAL REPORT
OF
RICHLAND SCHOOL DISTRICT TWO
COLUMBIA, SOUTH CAROLINA
FOR THE FISCAL YEAR ENDED
JUNE 30, 2022
Prepared by:
Office of Financial Services
Baron R. Davis, Ph.D.

Superintendent
Harry W. Miley, Jr., Ph.D.

Senior Chief Financial and Operations Officer
Shelley S. Allen
Chief Financial Officer
TABLE OF CONTENTS
YEAR ENDED JUNE 30, 2022
INTRODUCTORY SECTION
Reference Page
Letter of Transmittal from Administration 1-6
Principal Officers 7
Organizational Chart 8
GFOA Certificate of Achievement for Excellence in Financial Reporting 9
ASBO Certificate of Excellence in Financial Reporting 10
FINANCIAL SECTION
INDEPENDENT AUDITOR'S REPORT 11-13

Management's Discussion and Analysis 14-23
Basic Financial Statements

Government-Wide Financial Statements
Statement of Net Position Exhibit 1 25
Statement of Activities Exhibit 2 26
Fund Financial Statements

Balance Sheet - Governmental Funds Exhibit 3 27
Reconciliation of the Governmental Funds Balance Sheet to the Statement of Net Position Exhibit 4 28
Statement of Revenues, Expenditures, and Changes in Fund Balances -
Governmental Funds Exhibit 5 29
Reconciliation of the Governmental Funds Statement of Revenues, Expenditures and
Changes in Fund Balance to the Statement of Activities Exhibit 6 30
Statement of Net Position - Proprietary Funds Exhibit 7 31
Statement of Revenues, Expenses and Changes in Net Position - Proprietary Funds Exhibit 8 32
Statement of Cash Flows - Proprietary Funds Exhibit 9 33
Notes to Financial Statements 34-68

Required Supplementary Information
Budgetary Comparison Schedule of Revenues, Expenditures and Changes in Fund Balance - General Fund 70
Schedule of Proportionate Share of Net Pension Liability 71
Schedule of Contributions to SCRS and PORS 72
Schedule of Proportionate Share of Net OPEB Liability 73
Schedule of Contributions to SCRHITF and SCLTDITF 74
Other Supplementary Information

General Fund
Schedule of Revenues, Expenditures, and Changes in Fund Balance -
Revised Budget and Actual Schedule A-1 77-84
Special Revenue Funds
Special Projects Fund
Schedule of Revenues, Expenditures, and Changes in Fund Balances Schedule B-1 87-95
Summary Schedule for Designated State Restricted Grants Schedule B-2 96
i.
TABLE OF CONTENTS
TABLE OF CONTENTS (CONTINUED)
FINANCIAL SECTION (CONTINUED)
Reference Page
Education Improvement Act
Schedule of Revenues, Expenditures and Changes in Fund Balance Schedule B-3 97-101
Summary Schedule by Program Schedule B-4 102
Food Service Program
Schedule of Revenues, Expenditures and Changes in Fund Balance Schedule B-5 103
Debt Service Fund

Schedule of Revenues, Expenditures and Changes in Fund Balance Schedule C-1 106
Capital Projects Fund

Schedule of Revenues, Expenditures and Changes in Fund Balance Schedule D-1 108
Proprietary Funds
Internal Service Fund:
Statement of Changes in Net Position Schedule E-1 110
Schedule of Revenues, Expenses and Changes in Net Position Schedule E-2 111-112
Other Supplemental Schedules Required by State Department of Education

Detailed Schedule of Due to State Department of Education/Federal Government Schedule F-1 114
Location Reconciliation Schedule Schedule F-2 115
STATISTICAL SECTION
Reference Page
Net Position by Component Table 1 118
Expenses, Program Revenues and Net (Expenses) Table 2 119
General Revenues and Total Change in Net Position Table 3 120
Fund Balances of Governmental Funds Table 4 121
Governmental Fund Revenues Table 5 122
Governmental Funds Expenditures and Debt Service Ratio Table 6 123
Other Financing Sources and Usese and Net Changes in Fund Balances, Governmental Funds Table 7 124
Assessed Value and Actual Value of Taxable Property Table 8 125
Direct and Overlapping Property Tax Rates Table 9 126
Principal Property Taxpayers Table 10 127
Property Tax Levies and Collections Table 11 128
Ratios of Debt Outstanding Table 12 129
Legal Debt Margin Table 13 130
Direct and Overlapping Debt Table 14 131
Demographic and Economic Statistics Table 15 132
Principal Employers Table 16 133
Full-Time Equivalent School District Employees by Type Table 17 134
Operating Statistics Table 18 135
School Building Information Table 19 136-139
Teacher Base Salaries Table 20 140
ii.
TABLE OF CONTENTS
TABLE OF CONTENTS (CONTINUED)
SINGLE AUDIT SECTION
Independent Auditor's Report on Internal Control Over Financial Reporting and

On Compliance and Other Matters Based on an Audit of Financial Statements
Performed in Accordance with Government Auditing Standards 142-143
Independent Auditor's Report on Compliance for each Major Program and on Internal Control
over Compliance Required by the Uniform Guidance 144-146
Schedule of Expenditures of Federal Awards 147-148
Notes to the Schedule of Expenditures of Federal Awards 149
Schedule of Findings and Questioned Costs 150-151
Corrective Action Plan 152
Schedule of Prior Year Findings and Questioned Costs 153
iii.
March 21, 2023
To the Board of Trustees and Citizens of Richland School District Two:
South Carolina State law requires that all school districts publish a complete set of financial statements presented in
conformity with generally accepted accounting principles (GAAP) and audited in accordance with generally accepted
auditing standards by a licensed certified public accounting firm within six months of the close of each fiscal year. The
Annual Comprehensive Financial Report of Richland School District Two for the fiscal year ended June 30, 2022, is
submitted. Responsibility for both the accuracy of the data and the completeness of the information, including all
disclosures, rests with the school district. To the best of our knowledge and belief, the enclosed data are accurate in all
material respects and are reported in a manner designed to present fairly the financial position and results of operations
of the school district.
This report consists of management’s representations concerning the finances of the District. Consequently, management
assumes full responsibility for the completeness and reliability of all of the information presented in this report. To provide
a reasonable basis for making these representations, management of Richland School District Two has established a
comprehensive internal control process that is designed both to protect the District’s assets from loss, theft, or misuse and
to compile sufficient reliable information for the preparation of the District’s financial statements in conformity with generally
accepted accounting principles. As the cost of internal controls should not outweigh their benefits, the school district’s
comprehensive framework of internal controls has been designed to provide reasonable rather than absolute assurance
that the financial statements will be free from material misstatements. Management asserts that, to the best of our
knowledge and belief, this financial report is complete and reliable in all material respects.
The independent audit of the financial statements of Richland School District Two was a part of a broader, federally
mandated “Single Audit” designed to meet the special needs of federal grantor agencies. The standards governing Single
Audit engagements require the independent auditor to report not only on the fair presentation of the financial statements,
but also on the audited government’s internal controls and compliance with legal requirements involving the administration
of federal awards. These reports are available in the compliance section of this annual comprehensive financial report.
As part of the District’s single audit, tests are made to determine the adequacy of the internal control structure, including
the portion related to federal financial assistance programs, as well as to determine that the District has complied with
applicable laws and regulations. The results of the Single Audit revealed no instances of material weakness in the internal
control structure or significant violations of laws, regulations, contracts, or grants.
Generally accepted accounting principles require that management provide a narrative introduction, overview, and analysis
to accompany the basic financial statements in the form of Management’s Discussion and Analysis (MD&A). This letter of
transmittal is designed to complement MD&A and should be read in conjunction with the MD&A, which can be found
immediately following the report of the independent auditors.
Profile of the School District
The District is a political subdivision of the State of South Carolina.
124 Risdon Way, Columbia, SC 29223 ~ www.richland2.org ~ 803.787.1910

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The District is located in the northeastern section of Richland County and is bordered on the west by Richland School
District One of Richland County, on the east and on the south by Kershaw County, and on the north by Fairfield County.
The City of Columbia, the state capital of South Carolina, is also the business and financial center of the state. The
Columbia Metropolitan Statistical Area (MSA) has an estimated population of over 837,000.
The District operates a district-wide early childhood development program, twenty elementary schools, seven middle
schools, five high schools, four elementary magnet schools, an alternative school, one adult education center and offers
numerous magnet opportunities at all grade levels. The average age of schools in the district falls somewhere between
20-30 years and close to half of our schools are less than 20 years old. Richland School District Two is governed by a
seven member Board of Trustees elected at large by the voters of the District. Board members are elected to four-year
terms. As of June 30, 2022, the District served approximately 28,000 students. The District continues to be one of the
fastest growing districts in the state as it has over the past decade.
Economic Condition
State and federal payrolls are major sources of employment and income for residents of the County. The state of South
Carolina employs nearly 190,000 persons in the County. The County has experienced considerable expansion of Federal,
State and County facilities. The headquarters of Blue Cross / Blue Shield of South Carolina is located in the School District
where the company employs approximately 10,000 people. There are significant industrial enterprises within the School
District including Koyo Bearings, Spirax Sarco, and FN Manufacturing, Inc.
Fort Jackson, one of the United States Army’s largest training installation, is located adjacent to the District and is a major
contributor to the economy. More than 3,500 active duty Soldiers and their 12,000 Family members are assigned to the
installation and make this area their home. About one third of those live in on-post housing. Fort Jackson employs almost
3,500 civilians and provides services for more than 46,000 retirees and their family members. An additional 10,000 students
attend courses at the Soldier Support Institute, Armed Forces Chaplain Center, National Center for Credibility Assessment
and Drill Sergeant School annually; training in excess of 48,000 basic training and 12,000 additional advanced training
Soldiers every year.
Richland County’s per capita income is estimated to be $52,726 for 2022. The annual unemployment rate for 2021 for
Richland County was 5.8%, which was below the 6.2% state annual rate.
Long-term Financial Planning
As previously noted, Richland School District Two has been one of the fastest growing school districts in South Carolina
over the past decade. To address this growth, the Board regularly updates a 10-Year Facility Study. As a result of this
planning process, in November 2018, voters approved by a 65% yes vote a $468 million referendum which will fund system
wide improvements in safety and security, learning spaces, technology and transportation.
The growth in student enrollment is projected to be about 200-400 per year, which will put student enrollment between
28,000-29,000 in the 2022-2023 school year.

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Budgetary Control
Richland School District Two exercises budgetary controls. The objective of these budgetary controls is to ensure
compliance with the provisions set forth in the annual appropriation adopted by the Board of Trustees. The Board of
Trustees annually adopts and approves the General Fund budget by June 30th. The District maintains the modified accrual
system for all governmental funds, and uses encumbrance accounting to accomplish budgetary controls at the function
level. The Superintendent has authority to approve line item transfers within a fund. The legal level of control is at the
fund level. Encumbrances are utilized to assist in budgetary control, and encumbrances lapse at fiscal year-end. The
Board of Trustees is given a budget status report on a quarterly basis which is reviewed by members of the Board.
Special Revenue fund budgets are expended in conformance with the specific state and federal requirements of each fund,
and budgets are not legally adopted by the Board of Trustees. Budgets are not formally adopted for the Capital Projects
Fund or the Debt Service Fund. Debt Service expenditures are set in accordance with bond issue requirements, with
revenues needed to pay the debt service requirement levied by the County Auditor.
Economic Assessment
District policies are in place to assess and maintain the economic condition of the District. Among these is Policy DA which
states the District’s Fiscal Management Goals including a requirement to maintain a reserve fund of from seven percent to
the equivalent of two months operating expenditures of the General Fund Operating Budget. Other policies address
managing indebtedness and debt service, determining a budget that reflects the education priorities of the District,
maintaining a level of per student expenditures needed to provide a quality education, as well as other policies regarding
investments, inventories and various other aspects of financial operations designed to assist in assessing and maintaining
the economic condition of the District.
Awards and Acknowledgements for 2021 – 2022
Richland Two named 2021 K-12 DIVE District of the Year
2022 Regeneron Science Talent Search Scholars -: Shyam Ganest Babu, Eileen Chen - Spring Valley High School
National Merit Scholarship Corporation scholarship winners - Macy Collins, Blythewood High; Zachary Huang, Spring
Valley High; Alexander Winslow, Richland Northeast High
National Junior Science and Humanities Symposium - Shriya Kapoor, Eileen Chen and Cathy Tang, Spring Valley High
Invest-Write competition winner - Andrew Jennings, Kelly Mill Med Pro Middle School
Robotics Challenge in the 2022 South Carolina 4-H Engineering Challenge - Zoey Sangal, Center for Knowledge; Peyton
Montgomery, Round Top Elementary School
Best in State - Spring Valley JROTC Drill Team
First place winner in the 2022 Magnet Schools of America Poster Contest – Samantha Williams, Sandlapper Elementary

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Award for Aspirations in Computing National Centr for Women and Information Technology- Faith Aiken, Ridge View
High and R2i2 Student Innovation Center
State 4A Track Athlete of the Year – Brianna Rodriguez – Westwood High
State Basketball Champions – Ridge View High’s Varsity Boys’ Basketball
State Track and Field Champions – Spring Valley High School – Jackson Inmon, Ethan Taylor, Jack Stacy, Tyler Shuler
and Mondell Hutto
2021 S.C. History Teacher of the Year – Saudah Collins, Jackson Creek Elementary
S.C. Association of School Administrators 2022 S.C. Elementary Assistant Principal of the Year – Dr. Tia Jones,
Catawba Trail Elementary
2021- 2022 CS Teaching Excellence Award - Dr. Tim Swick, Sandlapper Elementary
2022 SC Stem Educator of the Year – Kirsten Bullington, R2i2 Student Innovation Center
2021 D.A.R.E Educator of the year: Susan Stokes, Jackson Creek Elementary
2021 – 2022 S.C. Personnel Administrator of the Year – Shawn Williams, Senior Chief Officer for Human Resources
2021 – 2022 Outstanding School Business Official Award – Harry Miley, Senior Chief Officer for Finance and Operations
2021 S.C. Association for physical Education and Sport Elementary Teacher of the Year – Michael Lally, Lake Carolina
Elementary Upper
2021 recipient of the William Dahlgren Teacher of Excellence Award from SAMPE – Nicolas Jones, R2i2 Student
Innovation Center
Palmetto State Literacy Association’s Distinguished Literacy Administrator of the Year – Kim Hutcherson, Center for
Achievement
2022 Yamaha Music USA National Top 40 Musicians under 40 – Kenneth Perkins, Joseph Keels Elementary
2021 S.C. Association of School Administrators Top 3 Secondary Principals – Dr. Brenda Mack-Foxworth, Ridge View
High
Regeneron Science Talent Search Teachers of Merit – Michelle Spigner and Lindsey Rega, Spring Valley High
Premier 100 – 2022 William L. Hunter Diversity, Equity and Inclusion Award
The Association of School Business Officials International (ASBO) awarded Richland School District Two the Certificate
of Excellence in Financial Reporting (COE) for the 35th consecutive year
The Government Finance Officers Association of the United States and Canada (GFOA) awarded Richland Two the
Certificate of Achievement for Excellence in Financial Reporting

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Department of Defense Junior Science and Humanitaies Symposium Teacher of the Year – Lindsey Rega, Spring Valley
Hoch
SCAEOP Educational Office Professional of the Year - MaryBeth Gawrys, Lake Carolina Elementary Lower
NAEOP 2021 Olive T. Richie Office Professional of the Year – MaryBeth Gawrys, Lake Carolina Elementary Lower
Elected to serve on the Magnet Schools of America Board of Directors – Barbara Turner, Richland Two Director of
Magnet Programs
2022 ASCD Whole Child Award - Ridge View High
2021 Ibrahim Janajreh Young Innovator Award/Innovision Award – R2i2 Student Innovation Center
2022 Magnet Schools of America, National Magent Schools of Excellence – Sandlapper Elementary and Ridge View
High
2022 Magnet Schools of America, National Magnet Schools of Distinction – L.W. Conder Elementary and Spring Valley
High
COGNIA’s STEM Certification – Westwood High
Awarded 13 communicatons awards by the S.C. chapter of the National School Public Relations Association – Ridge
View Arts Innovation for Medical Sciences
2021 National Blue Ribbon Beacon School – Polo Road Elementary
2022 Outstanding Concert Band Performance Awards by S.C. Band Directors Association
Magnet Schools of America 2022 National New and Emerging Merit Award of Excellence – Sandlapper Elementary
Superintendent Dr. Baron Davis

• 2022 SCAAA 4A/5A Superintendent of the Year
• Member of AASA National Superintendent Certification Program
• 2022 Gerald Dawkins Leadership Builder Award Recipient
• American Heart Challenge Award – Administrator of the Year
Acknowledgements
The preparation of the annual comprehensive financial report was made possible by the dedicated efforts of the entire
Business Services office staff. Each member of the department has our sincere appreciation for the contributions made
in the preparation of this report.
In closing, without the leadership and support of the Richland School District Two Board of Trustees, preparation of the
report would not have been possible.

5
Respectfully submitted,
Nancy J. Gregory
Interim Superintendent

Senior Chief of Finance and Operations

6
Principal Officers
2021-2022
MEMBERS OF THE BOARD OF TRUSTEES
The Honorable Teresa Holmes, Chair
The Honorable James Manning, Vice Chair
The Honorable Amelia McKie, Secretary
The Honorable Lindsay Agostini
The Honorable Cheryl Caution-Parker
The Honorable Monica E. Scott
The Honorable Lashonda McFadden
ADMINISTRATIVE STAFF
Baron R. Davis, Ph.D.

Superintendent

Senior Chief Financial and Operations Officer
Shelley S. Allen
Chief Financial Officer
7
8
Government Finance Officers Association
Certificate of
Achievement
for Excellence
in Financial
Reporting
Presented to
Richland School District Two

South Carolina
For its Annual Comprehensive

Financial Report
For the Fiscal Year Ended
June 30, 2021
Executive Director/CEO
9
The Certificate of Excellence in Financial Reporting
is presented to

for its Annual Comprehensive Financial Report
for the Fiscal Year Ended June 30, 2021.
The district report meets the criteria established for

ASBO International’s Certificate of Excellence in Financial Reporting.
William A. Sutter David J. Lewis

President Executive Director
10
INDEPENDENT AUDITOR’S REPORT
Honorable Chair and Members of

the Board of Trustees of
Columbia, South Carolina
Opinions
We have audited the accompanying financial statements of the governmental activities, the business-type
activities, and each major fund of Richland School District Two (“the School District”), as of and for the year
ended June 30, 2022, and the related notes to the financial statements, which collectively comprise the School
District’s basic financial statements as listed in the table of contents.
In our opinion, the financial statements referred to above present fairly, in all material respects, the respective
financial position of the governmental activities, the business-type activities, and each major fund of Richland
School District Two, as of June 30, 2022, and the respective changes in financial position, and, where
applicable, cash flows thereof for the year then ended in accordance with accounting principles generally
accepted in the United States of America.
Basis for Opinions
We conducted our audit in accordance with auditing standards generally accepted in the United States of
America and the standards applicable to financial audits contained in Government Auditing Standards, issued
by the Comptroller General of the United States. Our responsibilities under those standards are further
described in the Auditor’s Responsibilities for the Audit of the Financial Statements section of our report. We
are required to be independent of the School District, and to meet our other ethical responsibilities, in
accordance with the relevant ethical requirements relating to our audit. We believe that the audit evidence we
have obtained is sufficient and appropriate to provide a basis for our audit opinions.
Responsibilities of Management for the Financial Statements
Management is responsible for the preparation and fair presentation of the financial statements in accordance
with accounting principles generally accepted in the United States of America, and for the design,
implementation, and maintenance of internal control relevant to the preparation and fair presentation of
financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, management is required to evaluate whether there are conditions or
events, considered in the aggregate, that raise substantial doubt about the School District’s ability to continue
as a going concern for twelve months beyond the financial statement date, including any currently known
information that may raise substantial doubt shortly thereafter.
(Continued next page)
______________________________________________________________________________________________
WEST COLUMBIA ROCK HILL

3101 SUNSET BLVD. · WEST COLUMBIA, SC 29169 128 EAST MAIN STREET, SUITE 201
POST OFFICE BOX 2044 · WEST COLUMBIA, SC 29171 ROCK HILL, SC 29730
MAIN LINE: 803.794.3712 · MAIN FAX: 803.739.4394 MAIN LINE: 803.325.1660 · FAX LINE: 803.325.1665 11
WWW.BURKETTCPAS.COM WWW.BURKETTCPAS.COM
Page 2 of 3
Auditor’s Responsibilities for the Audit of the Financial Statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free
from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our
opinions. Reasonable assurance is a high level of assurance but is not absolute assurance and therefore is not
a guarantee that an audit conducted in accordance with generally accepted auditing standards and Government
Auditing Standards will always detect a material misstatement when it exists. The risk of not detecting a
material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve
collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.
Misstatements are considered material if there is a substantial likelihood that, individually or in the aggregate,
they would influence the judgment made by a reasonable user based on the financial statements.
In performing an audit in accordance with generally accepted auditing standards and Government Auditing
Standards, we:
• Exercise professional judgment and maintain professional skepticism throughout the audit.
• Identify and assess the risks of material misstatement of the financial statements, whether due to fraud
or error, and design and perform audit procedures responsive to those risks. Such procedures include
examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements.
• Obtain an understanding of internal control relevant to the audit in order to design audit procedures
that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the
effectiveness of the School District’s internal control. Accordingly, no such opinion is expressed.
• Evaluate the appropriateness of accounting policies used and the reasonableness of significant
accounting estimates made by management, as well as evaluate the overall presentation of the
financial statements.
• Conclude whether, in our judgment, there are conditions or events, considered in the aggregate, that
raise substantial doubt about the School District’s ability to continue as a going concern for a
reasonable period of time.
We are required to communicate with those charged with governance regarding, among other matters, the
planned scope and timing of the audit, significant audit findings, and certain internal control-related matters
that we identified during the audit.
Required Supplementary Information
Accounting principles generally accepted in the United States of America require that the management’s
discussion and analysis, the budgetary comparison schedule for the General Fund, the pension schedules, and
the OPEB schedules, as listed in the table of contents, be presented to supplement the basic financial
statements. Such information is the responsibility of management and, although not a part of the basic
financial statements, is required by the Governmental Accounting Standards Board, who considers it to be an
essential part of financial reporting for placing the basic financial statements in an appropriate operational,
economic, or historical context. We have applied certain limited procedures to the required supplementary
information in accordance with auditing standards generally accepted in the United States of America, which
consisted of inquiries of management about the methods of preparing the information and comparing the
information for consistency with management’s responses to our inquiries, the basic financial statements, and
other knowledge we obtained during our audit of the basic financial statements.
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Page 3 of 3
We do not express an opinion or provide any assurance on the information because the limited procedures do
not provide us with sufficient evidence to express an opinion or provide any assurance.
Supplementary Information
Our audit was conducted for the purpose of forming opinions on the financial statements that collectively
comprise the School District’s basic financial statements. The supplementary information and schedule of
expenditures of federal awards, as required by Title 2 U.S. Code of Federal Regulations Part 200, Uniform
Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards, are presented for
purposes of additional analysis and are not a required part of the basic financial statements. Such information
is the responsibility of management and was derived from and relates directly to the underlying accounting
and other records used to prepare the basic financial statements. The information has been subjected to the
auditing procedures applied in the audit of the basic financial statements and certain additional procedures,
including comparing and reconciling such information directly to the underlying accounting and other records
used to prepare the basic financial statements or to the basic financial statements themselves, and other
additional procedures in accordance with auditing standards generally accepted in the United States of
America. In our opinion, the supplementary information and the schedule of expenditures of federal awards
are fairly stated, in all material respects, in relation to the basic financial statements as a whole.
Other Information
Management is responsible for the other information included in the annual report. The other information
comprises the introductory and statistical sections but does not include the basic financial statements and our
auditor’s report thereon. Our opinions on the basic financial statements do not cover the other information,
and we do not express an opinion or any form of assurance thereon.
In connection with our audit of the basic financial statements, our responsibility is to read the other
information and consider whether a material inconsistency exists between the other information and the basic
financial statements, or the other information otherwise appears to be materially misstated. If, based on the
work performed, we conclude that an uncorrected material misstatement of the other information exists, we
are required to describe it in our report.
Other Reporting Required by Government Auditing Standards
In accordance with Government Auditing Standards, we have also issued our report dated March 21, 2023,
on our consideration of the School District’s internal control over financial reporting and on our tests of its
compliance with certain provisions of laws, regulations, contracts, and grant agreements and other matters.
The purpose of that report is solely to describe the scope of our testing of internal control over financial
reporting and compliance and the results of that testing, and not to provide an opinion on the effectiveness of
the School District’s internal control over financial reporting or on compliance. That report is an integral part
of an audit performed in accordance with Government Auditing Standards in considering the School District’s
internal control over financial reporting and compliance.
BURKETT BURKETT & BURKETT

Certified Public Accountants, P.A.
West Columbia, South Carolina
March 21, 2023
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MANAGEMENT'S DISCUSSION AND ANALYSIS (MD&A)
FOR THE FISCAL YEAR ENDED JUNE 30, 2022
INTRODUCTION
This narrative overview gives an analysis of the financial activities of the School District for the fiscal year ended
June 30, 2022. Our purpose is to inform our citizens of the effect of our School District’s operations and to present
our financial position. We ask our citizens to consider the information presented here in conjunction with additional
information that we have furnished in our letter of transmittal as well as the basic financial statements and the
associated notes to enhance understanding of the School District’s financial performance.
FINANCIAL HIGHLIGHTS
A sweeping piece of legislation impacting the funding of public K-12 education, Act 388, was passed by the South
Carolina Legislature in 2007. This legislation removed taxes imposed for school operations for owner-occupied
property in South Carolina. It was replaced by a one cent sales tax increase. Act 388 also imposed a cap on the
annual increase in millage for school operations.
In this, the 15th year under this legislation, Richland School District Two found that the cap allowed for an adequate
level of local funding for FY 2021-2022. The School District was also fortunate to maintain its "Aa1" rating from
Moody's and “AA” from Standard & Poor’s for general obligation debt. Both firms cited the School District’s
experienced and capable management, satisfactory level of fund balance, long-term capital facilities planning, and
stable financial operations in awarding their rating.
In FY 2021-2022, the School District’s General Fund revenues exceeded expenditures, resulting in an increase in the
General Fund Balance of over $25 thousand. The School District’s overall governmental funds’ fund balances
decreased by over $20 million, largely due to capital outlay expenditures related to the 2018 bond referendum. As of
June 30, 2022, the School District’s combined Governmental Funds ending Fund Balance was over $244.2 million.
Other key financial aspects were as follows:
• Overall Governmental Fund Activities – Governmental revenues totaled over $454.7 million, other
financing sources/(uses) totaled more than $80.8 million, and expenditures totaled over $555.6 million for all
Governmental Funds at the fund level. This resulted in a decrease to the Governmental Fund ending fund
balance of $20.1 million. This decrease was largely due to capital outlay expenditures of over $111.7 million
in the Capital Projects Fund, which resulted in a decrease to Capital Projects fund balance by $24.8 million.
• General Fund/Fund Balance - Among the major funds, the General Fund had $319.3 million in revenues
and other financing sources and $319.0 million in expenditures and other financing uses. This increase in
fund balance brings the ending balance to $94.6 million (29.7% of the total School District operating budget),
exceeding the range of 7 - 16.7% as preferred in Board Policy.
• Major Capital Additions - The School District’s net capital assets for governmental activities increased by
over $89.2 million or 13.4%. This is largely attributable to the increase in Construction in Progress resulting
from the 2018 Bond Referendum projects continuing during the year to numerous facilities throughout the
district.
• Internal Service Fund –The Board of Trustees approved for the School District to self-insure for Worker’s
Compensation beginning in the 2008-2009 fiscal year. To fund the self-insurance program the School District
transferred $1 million in FY 2007-2008 to establish the Internal Service Fund to account for the Workers
Compensation Program beginning July 1, 2008. The fund provides workers compensation benefits to School
District employees and is a governmental activity. The fund ended the year with an increase in net position
of $74,083 and total net position exceeding $2.5 million. This increase is a result of funds transferred to cover
the cost of reserves projected for outstanding claims.
• Cash and Investments (Governmental Activities) - Cash and Investments in the Governmental Funds
decreased by over $18.5 million from June 30, 2021 to June 30, 2022 which is largely attributable to capital
outlay expenditures related to the 2018 bond referendum.
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o Debt (Governmental Activities) - The School District retired $89.5 million in principal during the 2021-2022
fiscal year, including $40 million in defeased debt. In addition, the School District borrowed $75 million in
General Obligation bonds related to the 2018 bond referendum and $42.2 million in General Obligation
refunding bonds (additional information can be found Note 8 of the Notes to the Financial Statements). The
Debt Service Fund Balance decreased by over $1.2 million, to a total of nearly $31.9 million.
OVERVIEW OF FINANCIAL STATEMENTS

This discussion and analysis is intended to serve as an introduction to the School District's basic financial statements.
The School District's basic financial statements comprise three components: 1) government-wide financial
statements, 2) fund financial statements (General, Special Revenue (Special Projects, EIA, Food Service Fund and
Pupil Activity Funds), Debt Service, Capital Projects, Proprietary (Internal Service Fund) and 3) Notes to the basic
financial statements. This report also contains required and other supplementary information in addition to the basic
financial statements themselves. A description of these statements and some related definitions follow:
Government-wide Financial Statements - The government-wide financial statements are designed to provide
readers with a broad overview of the School District's finances, in a manner similar to a private-sector business.
These statements outline functions of the School District that are principally supported by property taxes and
intergovernmental revenues (governmental activities). The governmental activities of the School District include
instruction, support services, community services, and intergovernmental expenditures. The government-wide
financial statements include those of the School District (known as the primary government), with no component units.
The government-wide financial statements can be found on pages 25 and 26 of this report.
Statement of Net Position - The statement of net position presents information on all of the School District's
assets and deferred outflows of resources, and liabilities and deferred inflows of resources, with the difference
reported as net position. Over time, increases or decreases in net position may serve as a useful indicator
of whether the financial position of the School District is improving or deteriorating.
Statement of Activities - The statement of activities presents information showing how the School District's
net position changed during the most recent fiscal year. All changes in net position are reported as soon as
the underlying event giving rise to the change occurs, regardless of the timing of related cash flows. Thus,
revenues and expenses are reported in this statement for some items that will only result in cash flows in
future fiscal periods (e.g., uncollected taxes and earned but unused compensated absences).
Fund Financial Statements - A fund is a grouping of related accounts that is used to maintain control over
resources that have been segregated for specific activities or objectives. The School District uses fund
accounting to ensure and demonstrate compliance with finance-related legal requirements. All of the funds
of the School District can be divided into two categories: governmental and proprietary.
Governmental Funds - Governmental funds are used to account for essentially the same functions
reported as governmental activities in the government-wide financial statements. Unlike the
government-wide financial statements, however, governmental fund financial statements focus on
near-term inflows of resources, as well as on balances of resources available at the end of the fiscal
year. Such information may be useful in evaluating the School District's near-term financing
requirements.
Because the focus of governmental funds is narrower than that of the government-wide financial
statements, it is useful to compare the information presented for governmental funds with similar
information presented for governmental activities in the government-wide financial statements. By
doing so, readers may better understand the long-term impact of the School District's near-term
financing decisions.
15
Both the governmental fund balance sheet and the governmental fund statement of revenues,
expenditures, and changes in fund balances provide a reconciliation to facilitate this comparison
between governmental funds and governmental activities. These reconciliations are on pages 28
and 30.
The School District maintains its accounting records in conformity with the South Carolina
Department of Education’s Financial Accounting Handbook. Information is presented separately in
the governmental funds balance sheet and in the governmental funds statement of revenues,
expenditures, and changes in fund balances for the General, Special Revenue, Education
Improvement Act (EIA), Food Service, Debt Service and Capital Projects Funds, all of which are
considered to be major funds. The basic governmental funds financial statements can be found on
pages 27 and 29.
Proprietary Funds – The School District uses an internal service proprietary fund to account for self-
funded workers compensation benefits. Internal services benefit governmental activities and are
included within that column in the government-wide financial statements. The School District’s
internal service fund is also presented in a single column in the proprietary fund financial statements
as governmental activities. The basic proprietary fund financial statements can be found on pages
31 through 33 of this report.
Notes to basic financial statements - The notes provide additional information that is essential to a full
understanding of the data provided in the government-wide and fund financial statements. The notes to the
basic financial statements can be found on pages 34 through 68 of this report.
Supplemental information - In addition to the basic financial statements and accompanying notes, this
report also presents certain required supplementary information. A budgetary comparison statement has
been provided for the General Fund, which is legally adopted by the Board, as well as several other pension
related supplementary information schedules required by the State Department of Education. The required
supplementary information can be found on pages 70-74 of this report.
GOVERNMENT-WIDE FINANCIAL ANALYSIS-THE GOVERNMENT AS A WHOLE
Net position may serve over time as a useful indicator of a government’s financial situation. In the case of the School
District as a whole, total liabilities and deferred inflows of resources exceeded total assets and deferred outflows of
resources by over $259.1 million as of June 30, 2022. Overall, the School District’s change in net position for the
year was nearly a $35 million increase.
By far the largest portion of the School District's assets, $754.4 million (71.5% of total assets) reflects its investment
in capital assets, net of accumulated depreciation (e.g., land, buildings and improvements, vehicles, furniture and
equipment and construction in progress). The School District uses these capital assets to provide services to its
students; consequently, these assets are not available for future spending. Although the School District's investment
in its capital assets is reported net of related debt, it should be noted that the resources needed to repay this debt
must be provided from other sources, since the capital assets themselves cannot be used to liquidate these liabilities.
16
The following table presents a summary of the School District's net position at June 30, 2022 compared to June 30,
2021.
Net Position
Governmental Activities
2022 2021
Assets
Current and Other Assets $ 300,420,614 $ 325,214,453
Capital Assets 754,478,682 665,247,738
Total Assets 1,054,899,296 990,462,191
Deferred Outflows of Resources

Deferred Charges on Bond Refunding 920,789 -
Deferred Outflows related to Pension Liability 56,169,500 63,662,962
Deferred Outflows related to OPEB Liability 106,654,259 77,986,836
Total Deferred Outflow of Resources 163,744,548 141,649,798
Liabilities
Other Liabilities 52,437,171 57,008,893
Long-Term Liabilities 1,330,670,160 1,321,793,922
Total Liabilities 1,383,107,331 1,378,802,815
Deferred Inflows of Resources
Deferred Inflows related to Net Pension Liability 59,925,414 10,267,298

Deferred Inflows related to Net OPEB Liability 34,806,995 37,216,137
Total Deferred Inflow of Resources 94,732,409 47,483,435
Net Position
Net Investment in Capital Assets 303,718,257 265,535,892
Restricted 41,434,849 37,008,631
Unrestricted (604,349,002) (596,718,784)
Total Net Position $ (259,195,896) $ (294,174,261)
17
The following table shows the changes in net position for fiscal years ended June 30, 2022 and 2021 (as restated for
the prior period adjustment):
Changes in Net Position

Governme ntal Activities
2022 2021
Reve nue s
Program Revenues:
Charges for Services $ 650,356 $ 460,323
Operating Grants 216,967,501 198,981,630
General Revenue:
Property Taxes 178,693,940 170,893,065
Federal and State Aid 56,101,351 54,667,139
Investment Earnings 1,487,350 1,018,938
Other 944,806 2,339,418
Total Re venues 454,845,304 428,360,513
Program Expe nses
Instruction 225,192,106 231,171,951
Supporting Services 179,710,992 164,831,852
Community Services 1,740,912 272,943
Interest and Fiscal Charges 12,975,699 18,947,617
Total Program Expense s 419,619,709 415,224,363
Change in Net Position before Transfers 35,225,595 13,136,150
Transfers - -
Change in Ne t Position 35,225,595 13,136,150
Net Position, Beginning of Year (294,174,261) (310,758,916)
Prior Period Adjustment (247,230) (1,159,272)
Cumulative Change in Accounting Principle - 4,607,777
Net Position, End of Year $ (259,195,896) $ (294,174,261)
Governmental Activities (Government-Wide Statements) - The School District's financial position is the product
of several financial transactions including the net results of activities, the acquisition and payment of debt, the
acquisition and disposal of capital assets, and the depreciation of capital assets.
The School District’s revenue for total governmental activities for FY 2022 was over $454.8 million and exceeded
expenses by $35.2 million. With the passage of Act 388 by the South Carolina General Assembly, the classification
of revenues for governmental activities reflects revenue that was formerly classified as Property Tax Revenue to now
be classified as State Aid. Act 388 replaces local property taxes for owner occupied homes with funds generated
from an additional one cent sales tax collected by the State of South Carolina. Act 388 did not, however, affect
property taxes collected for debt service purposes. Overall, the School District’s net position for governmental
activities increased by nearly $35 million. This increase relates to an increase in Federal grant revenues, local
property taxes and continued cost savings due to attrition and unfilled positions, primarily seen in the General Fund.
18
The following charts show the breakdown of revenues supporting governmental activities and the net cost of services
related to governmental activities for the 2016 fiscal year through 2022 fiscal year:
Revenues Supporting Governmental Activities By Source

For FY 2016 through FY 2022
250,000,000
200,000,000
150,000,000
100,000,000
50,000,000
- 2015-2016
2016-2017
2017-2018
2018-2019
2019-2020
2020-2021
2021-2022
Governmental Activities - Expenses By Function

For FY 2016 through FY 2022
250,000,000
200,000,000
150,000,000
2015-2016
100,000,000 2016-2017
2017-2018
50,000,000
2018-2019
2019-2020
-
Instruction Support Services Other 2020-2021
2021-2022
19
FINANCIAL ANALYSIS OF THE SCHOOL DISTRICT'S MAJOR FUNDS

As noted earlier, the School District uses fund accounting to ensure and demonstrate compliance with finance-related
legal requirements. The fund financial statements focus on individual parts of the School District and not on the
School District as a whole, and report the School District’s operations in more detail than the government-wide
statements.
Governmental funds – The focus of the School District's governmental funds is to provide information on near-term
inflows, outflows, and balances of spendable resources. Such information is useful in assessing the School District's
financing requirements. In particular, unassigned fund balance may serve as a useful measure of the School District's
net resources available for spending at the end of the fiscal year.
As the School District completed the year, its governmental funds reported a combined fund balance of $244.2 million,
a decrease of over $20.3 million. This decrease related to the decrease in the Capital Projects Fund, which resulted
from capital outlay expenditures related to the 2018 Bond Referendum. Unassigned fund balance totaling $94.6
million, is available for spending at the School District's discretion. There was $5.3 million restricted for Special
Revenue-Special Projects, $9.5 million restricted for food service program, $31.9 million restricted for debt service,
$102.8 million restricted for capital projects. Note 12 of the notes to the basic financial statements provides detail on
fund balances for the governmental funds.
The General Fund is the principal operating fund of the School District. The fund balance in the General Fund
increased by $25 thousand, due primarily to additional local revenues and cost savings, related to personnel costs
coming in under budget. The Debt Service Fund balance showed a decrease of over $1.2 million from the prior year
due to an increase in principal and interest payments. The Capital Projects’ fund balance decreased by $24.9 million
as a result of capital outlay expenditures for the 2018 Bond Referendum projects. As of June 30, 2022, the Food
Service fund ended the year with a Fund Balance exceeding $9.5 million. The increase in fund balance relates to
$11.3 million in additional Federal revenues. As of June 30, 2022, the Special Revenue Special Projects fund ended
the year with a fund balance of over $5.3 million, representing an increase of over $595 thousand. The majority of
this increase related to pupil activity fund revenues in excess of expenditures.
Proprietary Fund – The Proprietary Fund statements provide the same type of information found in the government-
wide statements, except the information is provided in more detail. This fund is adjusted for internal service balances
in the government-wide statements. The School District maintains an internal service proprietary fund to account for
self-funded workers compensation benefits.
Net position in the Internal Service Fund increased by $74,083, bringing the ending fund balance to over $2.5 million,
which is sufficient to cover anticipated reserves.
BUDGETARY HIGHLIGHTS
The most significant budgeted fund is the district’s General Fund. The FY 2021-2022 general fund budget was built
with a state base student cost of $2,516.
In February of 2022, the Richland School District Two Board of Trustees approved to make a non-recurring allocation
of $6,450,000 in general fund dollars to provide a bonus to full-time and part-time permanent employees. In addition,
the Board approved to make a non-recurring transfer of $10 million from the General Fund to the Capital Projects
fund to help offset the cost of future capital improvement needs.
Some significant highlights of initiatives funded in the 2021-2022 budget included:
• Maintaining class size ratios and addressing growth needs in Special Education.
• Continuing to maintain, recruit and support quality personnel by providing a salary schedule increase, in
addition to a step increase for all eligible employees (of approx. range of 1-2% step based on current salary
schedules).
• Teacher salary schedule increased by $1,000 as mandated in the proposed state budget and includes
classroom teachers, librarians, guidance counselors, psychologists, social workers, occupational and
physical therapists, school nurses, orientation/mobility instructors, and audiologists, as outlined in H.4100
State Appropriations Act.
20
• Bus driver salary schedule increased by 7.5% as provided in H.4100 State Appropriations Act.
• All other employee salary schedules increased by 2%.
• Modifications to bring the teacher salary schedule’s entry level to $41k and align impacted steps for BA and
BA+18 categories.
• Addressing safety and security needs that include maintaining the current SRO staffing levels through an
annual contract increase.
• Anticipated state increase for the employer portion of state retirement.
• Additional positions to support expanded ESOL needs.
• District level interpreter/translator to support district-wide services.
• Additional funding to maintain overall staffing standards and to add positions to provide district-wide support
for students and other programmatic needs.
The following table shows the Budget to Actual variances for the General Fund as of June 30, 2022:
Original Final Variance to

Budget Budget Actual Final Budget
REVENUES:
Local Property Tax $ 115,269,499 $ 115,269,499 $ 114,607,144 $ (662,355)
Other Local Revenue 1,250,000 1,250,000 1,768,700 518,700
State Sources 189,327,793 189,327,793 191,172,560 1,844,767
Federal Sources 200,000 200,000 126,457 (73,543)
Total Revenues - All Sources 306,047,292 306,047,292 307,674,861 1,627,569
EXPENDITURES:
Instruction 173,541,711 186,446,071 175,670,499 10,775,572
Support Services 137,054,954 129,538,764 127,148,736 2,390,028
Community Services 391,524 1,638,353 1,521,032 117,321
Other Charges 505,794 311,963 238,445 73,518
Total Expenditures $ 311,493,983 $ 317,935,151 $ 304,578,712 $ 13,356,439
OTHER FINANCING SOURCES(USES):

Sale of Capital Assets 706 706
Transfer In 9,865,691 9,865,691 11,594,473 1,728,782
Transfer Out (4,419,000) (14,427,832) (14,419,043) 8,789
Total Other Financing Sources (Uses) $ 5,446,691 $ (4,562,141) $ (2,823,864) $ 1,738,277
The District’s general fund budget is prepared according to South Carolina law. In February 2022, the Board of
Trustees approved an amendment to the general fund budget to authorize the allocation of $16,450,000 million in
fund balance to be allocated to fund the following one-time costs:
• Investment in our employees through a one-time bonus of $1,580 to all full-time permanent employees and
$789 to all part-time permanent employees (roughly $1,000 and $500 after taxes, respectively).
21
• Investment in our community with a one-time transfer of $10,000,000 from the General Fund to the Capital
Project Fund. This investment helps lessen the impact on taxpayers for the funding of annual capital
improvement expenditures.
The District also made typical categorical budget amendments during the year to ensure that expenditures were
charged to the proper account codes as required by the South Carolina Department of Education. Actual total revenue
came in above budget by $1.6 million as a result of state revenue exceeding budget by more than $1.8 million.
The final amended budgeted expenditures of the District had a positive variance from the actual expenditures of over
$13.3 million. Several factors impacted these savings, including the District utilizing substitutes or existing personnel
to cover vacated positions. Savings from staff attrition and unfilled vacancies created additional cost reductions.
CAPITAL ASSETS AND DEBT ADMINISTRATION
Capital Assets - The School District’s investment in capital assets for governmental activities at June 30, 2022
exceeded $754.4 million net of accumulated depreciation. This investment in assets includes land, buildings,
improvements other than buildings, construction in progress, and equipment. The total net increase exceeded $89.2
million. The increase in net capital assets is due primarily to the increase in construction projects related to the 2018
Bond Referendum. See the relevant disclosures in the notes to the basic financial statements (Note 5) for more
detailed information on capital asset activity.
The table below shows the total capital assets, net of accumulated depreciation, as of June 30, 2022 and 2021:
Governmental Activitie s
2022 2021
Land $ 27,340,376 $ 27,340,376
Buildings and improvements 750,470,909 750,334,871
Furniture and Equipment 29,176,713 28,753,100
Vehicles 8,091,033 7,311,959
Construction in progress 269,876,480 162,149,130
Total before accumulate d depreciation 1,084,955,511 975,889,436
Less accumulated depreciation (330,476,829) (310,641,698)
Net capital assets $ 754,478,682 $ 665,247,738
Long-term Debt - At June 30, 2022, the School District had total general and special obligation debt outstanding of
over $506.3 million. This is an increase of over $27.6 million from the last fiscal year. The School District retired $89.5
million in principal during the 2021-2022 fiscal year, including $40 million in defeased debt. In addition, the School
District borrowed $75 million in General Obligation bonds related to the 2018 bond referendum and $42.2 million in
General Obligation refunding bonds.
The School District maintains an "Aa1" rating from Moody's and an AA rating from Standard & Poor’s for general
obligation debt. State statutes currently limit the amount of general obligation debt a school district may issue to 8
percent of its total assessed valuation. As of June 30, 2022, the remaining debt margin available to the School District
is just over $48.8 million. Other long-term obligations include unamortized bond premiums and accrued compensated
absences.
Additional information on the School District's long-term debt and other long-term liabilities can be found in Note 8 of
the notes to the basic financial statements.
22
ECONOMIC FACTORS AND NEXT YEAR'S BUDGET

The School District, a suburban residential and shopping area located northeast of Columbia, the state capital and
most populous city in South Carolina, is one of the fastest growing areas in the state. State and federal payrolls are
major sources of employment and income and economic stability. Fort Jackson, the United States Army’s largest
training installation is located within the school district. Private employers such as the state headquarters for Blue
Cross/Blue Shield of South Carolina and The Village at Sandhills, one of the largest shopping complexes in the
southeast, contribute to a diverse and stable economy.
Many factors were considered by the School District's administration during the process of developing the FY 2022-
2023 budget. The School District's top budget goals are to provide a quality education for all students through student
engagement and to retain and recruit highly qualified certified and classified staff. These matters, along with the
district’s goals and priorities were considered when adopting the budget for FY 2022-2023. The total approved
General Fund 2022-2023 budget exceeded $332.7 million, a $16.8 million increase over prior year. Approximately
$1.8 million (10.9% of the increase) was funded with increased local tax dollars and the remaining increase related
primarily to increases in State funding allocations totaling in nearly of $12.1 million. State funding increases were
driven largely by additional state revenues provided for the State Aid to Classroom Program and the related transfer
from EIA funds, as well as the State Retiree Insurance funding provided by the State. Some of the additional items
incorporated into the FY 2022-2023 budget include increases to the Teacher Salary Schedules, increases to the
Transportation Salary Schedules and the other employees’ salary schedules.
CONTACTING THE SCHOOL DISTRICT'S FINANCIAL MANAGEMENT

This financial report is designed to provide our citizens, investors and creditors with a general overview of the School
District's finances and to demonstrate the School District's accountability for the resources it receives. If you have
questions about this report or need additional information, contact the Division of Business Services, Richland School
District Two, 124 Risdon Way, Columbia, South Carolina 29223 (Telephone number 803-787-1910).
23
BASIC FINANCIAL STATEMENTS
24
EXHIBIT 1

STATEMENT OF NET POSITION
JUNE 30, 2022
PRIMARY GOVERNMENT
Governmental
Activities
ASSETS
Cash and Investments $ 180,037,033
Deposits with Richland County Treasurer 104,008,115
Taxes Receivable, Net of Allowances 1,666,114
Prepaid Expenses 504,945
Accrued Intergovernmental Revenue Receivable 725,291
Due From:
Federal Agencies 12,296,638
State Department of Education 877,318
Other Receivables 305,160
Capital assets:
Land 27,340,376
Construction in Progress 269,876,480
Buildings, Additions and Improvements 750,470,909
Furniture and Equipment 29,176,713
Vehicles 8,091,033
Less: Accumulated Depreciation (330,476,829)
TOTAL ASSETS 1,054,899,296
DEFERRED OUTFLOWS OF RESOURCES
Deferred Charges on Bond Refunding 920,789

Deferred Outflows related to Pension Liability 56,169,500
Deferred Outflows related to OPEB Liability 106,654,259
TOTAL DEFERRED OUTFLOWS OF RESOURCES 163,744,548
LIABILITIES
Accounts Payable 14,782,255
Retainage Payable 4,042,538
Due to State Department of Education 234,814
Accrued Salaries and Related Liabilities 24,238,395
Unearned Revenue 9,139,169
Non-current Liabilities:
Due within One Year 50,914,375
Due in more than One Year 1,279,755,785
TOTAL LIABILITIES 1,383,107,331
DEFERRED INFLOWS OF RESOURCES
Deferred Inflows related to Net Pension Liability 59,925,414

Deferred Inflows related to Net OPEB Liability 34,806,995
TOTAL DEFERRED INFLOWS OF RESOURCES 94,732,409
NET POSITION
Net Investment in Capital Assets 303,718,257
Restricted For:
Debt Service 26,552,027
Special Projects 5,319,867
Food Service 9,562,955
Unrestricted (604,349,002)
TOTAL NET POSITION $ (259,195,896)
The notes to the financial statements are an integral part of this statement.
See accompanying independent auditors' report.
25
EXHIBIT 2
STATEMENT OF ACTIVITIES
FOR THE YEAR ENDED JUNE 30, 2022
NET (EXPENSE) REVENUE AND

PROGRAM REVENUES CHANGE IN NET POSITION
FUNCTIONS/PROGRAMS Operating
Charges for Grants and Governmental
PRIMARY GOVERNMENT: Expenses Services Contributions Activities
Governmental Activities:
Instruction $ 225,192,106 $ 157,158 $ 159,405,077 $ (65,629,871)
Supporting Services 179,710,992 493,198 57,562,424 (121,655,370)
Community Services 1,740,912 (1,740,912)
Interest and Other Charges 12,975,699 (12,975,699)
Total Governmental Activities 419,619,709 650,356 216,967,501 (202,001,852)
TOTAL - PRIMARY GOVERNMENT 419,619,709 650,356 216,967,501 (202,001,852)
General Revenues:
Property Taxes Levied for General Purposes 114,621,663
Property Taxes Levied for Debt Service 64,072,277
Miscellaneous 944,806
Unrestricted Investment Earnings 1,487,350
Federal and State aid not restricted for specific purpose 56,101,351
Total General Revenues and Transfers 237,227,447
CHANGE IN NET POSITION 35,225,595
NET POSITION - Beginning of Year (294,174,261)
Prior Period Adjustment (247,230)
NET POSITION - End of Year $ (259,195,896)
26
EXHIBIT 3
BALANCE SHEET - GOVERNMENTAL FUNDS
JUNE 30, 2022
SPECIAL SPECIAL SPECIAL TOTAL

REVENUE - REVENUE - REVENUE - CAPITAL GOVERNMENTAL
GENERAL SPECIAL PROJECTS EIA FOOD SERVICE DEBT SERVICE PROJECTS FUNDS
ASSETS
Cash and Investments $ 143,693,646 $ 6,735,062 $ $ 1,301,225 $ 25,432,739 $ 1,192,857 $ 178,355,529
Deposits with Richland County Treasurer 5,066,509 6,115,719 92,825,887 104,008,115
Taxes Receivable, Net of Allowances 1,160,326 505,788 1,666,114
Due From Federal Agencies 12,007,320 289,318 12,296,638
Due From State Department of Education 500,626 59,891 316,801 877,318
Due From:
General Fund 3,776,856 8,108,835 20,468,078 32,353,769
Special Revenue - Special Projects 7,478,464 2,850 7,481,314
Debt Service 31,150 31,150
Prepaid Items 48,167 48,167
Other Receivables 131,765 45,495 3,121 111,834 292,215
TOTAL ASSETS 158,062,486 18,895,935 4,099,628 9,811,212 32,054,246 114,486,822 337,410,329
LIABILITIES
Accounts Payable 4,316,376 516,179 43,781 248,257 7,677,128 12,801,721
Retainage Payable 4,042,538 4,042,538
Due To:
General Fund 7,478,464 31,150 7,509,614
Special Revenue - EIA 3,776,856 2,850 3,779,706
Special Revenue - Food Service Fund 8,108,835 8,108,835
Internal Service Fund 2,381,313 2,381,313
Capital Projects 20,468,078 20,468,078
Due To State Agencies 11,100 2,145 221,569 234,814
Unearned Revenue 5,576,430 3,562,739 9,139,169
Accrued Salaries and Related Liabilities 23,966,856 271,539 24,238,395
TOTAL LIABILITIES 63,029,414 13,576,068 4,099,628 248,257 31,150 11,719,666 92,704,183
DEFERRED INFLOWS OF RESOURCES
Unavailable Revenue - Property Taxes 401,828 125,987 527,815
DEFERRED INFLOWS OF RESOURCES 401,828 - - - 125,987 - 527,815
FUND BALANCES
Fund Balances
Nonspendable:
Prepaid Items 48,167 48,167
Restricted 5,271,700 9,562,955 31,897,109 102,767,156 149,498,920
Unassigned 94,631,244 94,631,244
TOTAL FUND BALANCES 94,631,244 5,319,867 - 9,562,955 31,897,109 102,767,156 244,178,331
TOTAL LIABILITIES, DEFERRED INFLOWS OF

RESOURCES AND FUND BALANCES $ 158,062,486 $ 18,895,935 $ 4,099,628 $ 9,811,212 $ 32,054,246 $ 114,486,822 $ 337,410,329
27
EXHIBIT 4
RECONCILIATION OF THE GOVERNMENTAL FUNDS BALANCE SHEET TO THE STATEMENT OF NET POSITION
JUNE 30, 2022
TOTAL FUND BALANCES - GOVERNMENTAL FUNDS $ 244,178,331
Amounts reported for the governmental activities in the Statement of Net Position
are different because of the following:
Capital assets used in governmental activities are not financial resources and therefore are
not reported as assets in governmental funds. The cost of the assets were $1,084,955,511
and the accumulated depreciation was $330,476,829. 754,478,682
Deferred charges on refunding are amortized over the lives of the bonds; however, in governmental
accounting, deferred charges on refunding are expenditures in the year they are incurred. The
deferred charges on refunding have been shown net of accumulated amortization expense. 920,789
The internal service fund is used to fund insurance and risk management of the School District.
The assets and liabilities of the internal service fund are included with governmental activities. 2,552,006
Property Taxes Receivable will be collected this year, but are not available soon enough to pay for
the current period's expenditures, and therefore are deferred in the governmental funds.
Unavailable Property Tax at year end consists of:
General Fund $ 401,828
Debt Service Fund 125,987 527,815
Accrued interest on bonds payable in governmental funds is not due and payable in the current
period and is therefore, not reported as a liability in the funds. (6,196,360)
Unearned bond premiums are unearned in the statement of net position. The net premiums of $75,389,917
have been amortized by $27,334,547 with a remaining unamortized net bond discount. (48,055,370)
Rebatable interest receivable on Build America Bonds in governmental funds is not a current
financial resource in the current period and is, therefore, not reported as an asset in the funds. 725,291
The District's proportionate share of the deferred outflows of resources and deferred inflows of resources
related to its participation in the State pension plans are not recorded in the governmental funds but are
recorded in the Statement of Net Position. (3,755,914)
The District's proportionate share of the deferred outflows of resources and deferred inflows of resources
related to its participation in the State insurance plans are not recorded in the governmental funds but are
recorded in the Statement of Net Position. 71,847,264
Long-term liabilities, including bonds payable, are not due or payable in the current
period and therefore are not reported as liabilities in the funds. Long-term liabilities
at year-end consisted of:
General Obligation Bonds Payable $ 488,651,000
Special Obligation Bonds Payable 17,742,000
Accrued Compensated Absences 6,297,305
Net Pension Liability 343,196,754
Net OPEB Liability 420,531,371 (1,276,418,430)
TOTAL NET POSITION - GOVERNMENTAL FUNDS $ (259,195,896)
28
EXHIBIT 5
STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES
GOVERNMENTAL FUNDS
SPECIAL SPECIAL SPECIAL TOTAL

REVENUE - REVENUE - REVENUE - GOVERNMENTAL
SPECIAL FOOD DEBT CAPITAL

GENERAL PROJECTS EIA SERVICE SERVICE PROJECTS FUNDS
REVENUES
Local Property Tax $ 114,607,144 $ $ $ $ 65,518,448 $ $ 180,125,592
Other Local Revenue 1,400,937 7,945,514 97,336 42,250 9,486,037
Total Revenue from Local Sources 116,008,081 7,945,514 - 97,336 65,518,448 42,250 189,611,629
State Sources 191,172,560 2,699,758 20,926,003 214,798,321
Federal Sources 126,457 29,865,217 18,868,908 48,860,582
Interest on Investments 367,763 323 745,938 372,819 1,486,843
TOTAL REVENUES ALL SOURCES 307,674,861 40,510,489 20,926,003 18,966,567 66,264,386 415,069 454,757,375
EXPENDITURES
Current:
Instruction 175,663,245 17,767,517 8,762,455 202,193,217
Support Services 126,990,422 18,241,073 3,142,560 13,543,261 5,942,236 167,859,552
Community Services 1,520,374 220,538 1,740,912
Intergovernmental 238,445 1,709,912 1,948,357
Capital Outlay 166,226 74,140 152,432 233,364 111,768,104 112,394,266
Debt Service:
Principal Retirement 49,552,000 49,552,000
Interest 19,555,059 19,555,059
Fiscal Charges for Cost of Issuance 140,499 299,827 440,326
TOTAL EXPENDITURES 304,578,712 38,013,180 12,057,447 13,776,625 69,247,558 118,010,167 555,683,689
EXCESS (DEFICIENCY) OF REVENUES OVER EXPENDITURES 3,096,149 2,497,309 8,868,556 5,189,942 (2,983,172) (117,595,098) (100,926,314)
OTHER FINANCING SOURCES (USES)

Issuance of General and Special Obligation Debt 42,180,000 74,995,000 117,175,000
Payment to Refunded Debt Escrow Agent (42,046,000) (42,046,000)
Premium on Bonds Issued 7,715,430 7,715,430
Transfers In 11,594,473 444,000 383,832 1,591,211 10,000,000 24,013,516
Transfers Out (14,419,043) (2,345,992) (8,868,556) (379,925) (26,013,516)
TOTAL OTHER FINANCING SOURCES (USES) (2,823,864) (1,901,992) (8,868,556) 3,907 1,725,211 92,710,430 80,845,136
NET CHANGE IN FUND BALANCE 272,285 595,317 - 5,193,849 (1,257,961) (24,884,668) (20,081,178)
FUND BALANCES, Beginning of Year, as Previously Stated 94,606,189 4,724,550 - 4,369,106 33,155,070 127,651,824 264,506,739
Prior Period Adjustment (247,230) (247,230)

FUND BALANCES, End of Year $ 94,631,244 $ 5,319,867 $ - $ 9,562,955 $ 31,897,109 $ 102,767,156 $ 244,178,331
29
EXHIBIT 6
RECONCILIATION OF THE GOVERNMENTAL FUNDS STATEMENT OF REVENUES, EXPENDITURES AND
CHANGES IN FUND BALANCE TO THE STATEMENT OF ACTIVITIES
TOTAL NET CHANGE IN FUND BALANCES - GOVERNMENTAL FUNDS $ (20,081,178)
Amounts reported for governmental activities in the statement of activities are different because of the following:
Property tax revenues not considered current financial resources are unavailable in the governmental funds but are not
in the statement of activities. Unavailable taxes receivable increased by $19,071 over the year ended June 30, 2022. 19,071
Rebatable interest receivable on Build America Bonds in governmental funds is not a current
financial resource in the current period and is, therefore, not reported as an asset in the funds. 13,137
Capital outlays are reported in governmental funds as expenditures. However, in the statement of activities,
the cost of those assets is allocated over their useful lives as depreciation expense. This is the amount by
which current year capital additions of $109,066,075 exceeded depreciation expense of $19,835,131. 89,230,944
Repayment of long-term liabilities, such as Bonds and Notes Payable, is an expenditure in the governmental funds,
but merely reduces liabilities in the statement of net position. 89,552,000
Bond premiums are revenues the year they are received in governmental funds but are amortized over the lives of the
bonds in the Statement of Activities. This amount represents the difference between the premiums received during
the current year and the amortization of premiums. 538,300
Deferred charges on refunding are expenditures in the year they are incurred in govenrmental funds but are amortized
over the lives of the bonds in the Statement of Activities. This amount represents the amount by which current year
deferred charges on refunding exceed amortization for the year. 920,789
The internal service fund is used to fund insurance and risk management of the School District. The net change
in net position of the internal service fund is reported with governmental activities. 74,083
Issuing bonds and loans provide current financial resources to governmental funds; however, issuing debt increases
long-term liabilities in the statement of net position. In the current period, the school district issued general obligation
bonds. (117,175,000)
Employer pension costs are recognized in the governmental funds only when contributions to the defined benefit plan
are paid in cash. However, in the Statement of Activities, the expense is recorded based on the results of an
actuarial valuation of the plan. This is the net change for these transactions during the year. 12,201,153
Employer insurance costs are recognized in the governmental funds only when contributions to the defined benefit plan
are paid in cash. However, in the Statement of Activities, the expense is recorded based on the results of an
actuarial valuation of the plan. This is the net change for these transactions during the year. (20,494,611)
Interest on long-term debt in the statement of activities differs from the governmental funds because governmental
funds recognize interest expense only when it is paid. In the statement of net position, interest expense is
recognized as it accrues. Accrued interest payable increased for the year ended June 30, 2022 by $122,676. (122,676)
The cost of compensated employee absences is recognized in the governmental funds only when actually paid in cash.
However, in the statement of net position, the expense is recorded when the employees earn the benefits. The total
liability for compensated absences increased by $549,583 during this fiscal year. 549,583
TOTAL CHANGE IN NET POSITION OF GOVERNMENTAL ACTIVITIES $ 35,225,595
30
EXHIBIT 7
STATEMENT OF NET POSITION
PROPRIETARY FUNDS
JUNE 30, 2022
GOVERNMENTAL
ACTIVITIES
ASSETS
INTERNAL SERVICE
Current Assets FUND
Cash and Investments $ 1,681,504
Accounts Receivable 12,945
Prepaid Expense 456,778
Due from General Fund 2,381,313
Total Current Assets 4,532,540
TOTAL ASSETS 4,532,540
LIABILITIES
Current Liabilities
Claims Payable 1,980,534
Total Current Liabilities 1,980,534
TOTAL LIABILITIES 1,980,534
NET POSITION
Unrestricted 2,552,006
TOTAL NET POSITION $ 2,552,006
31
EXHIBIT 8

STATEMENT OF REVENUES, EXPENSES AND CHANGES IN NET POSITION
PROPRIETARY FUNDS
GOVERNMENTAL
ACTIVITIES
INTERNAL SERVICE
FUND
OPERATING REVENUES
Other Operating Revenue $ 68,351
Total Operating Revenues 68,351
OPERATING EXPENSES
Salaries and Benefits 1,776,280
Other 218,495
Total Operating Expenses 1,994,775
Operating Income (Loss) (1,926,424)
NON-OPERATING REVENUE (EXPENSES)

Interest 507
Total Non-Operating Revenues 507
Income (loss) Before Transfers (1,925,917)
TRANSFERS IN (OUT)
Transfer from General Fund 2,000,000
Total Transfers 2,000,000
CHANGE IN NET POSITION 74,083
TOTAL NET POSITION - Beginning of Year 2,477,923
TOTAL NET POSITION - End of Year $ 2,552,006
32
EXHIBIT 9

STATEMENT OF CASH FLOWS
PROPRIETARY FUNDS
GOVERNMENTAL
ACTIVITIES
INTERNAL SERVICE
FUND
CASH FLOWS FROM OPERATING ACTIVITIES
Cash Received from Participants $ 68,351
Cash Paid to Employees for Services (1,776,280)
Cash Paid to Suppliers of Goods and Services (292,071)
Net Cash Provided (Used) by Operating Activities (2,000,000)
CASH FLOWS FROM NONCAPITAL FINANCING ACTIVITIES

Transfers from General Fund 2,000,000
Net Cash Provided (Used) by Noncapital Financing Activities 2,000,000
CASH FLOWS FROM INVESTING ACTIVITIES

Interest on Investments 507
Net Cash Provided by Investing Activities 507
Net Increase (Decrease) in Cash and Cash Equivalents 507
Cash and Cash Equivalents - Beginning of Year 1,680,997
Cash and Cash Equivalents - End of Year $ 1,681,504
RECONCILIATION OF NET OPERATING INCOME (LOSS) TO

NET CASH PROVIDED (USED) BY OPERATING ACTIVITIES
Net Operating Income (Loss) (1,926,424)

Adjustments to Reconcile Net Operating Income (Loss)
to Net Cash Provided (Used) by Operating Activities
Changes in Assets and Liabilities:
Decrease (Increase) in Receivables and Due from Others (224,091)
Decrease (Increase) in Prepaid Expenses (161,611)
Increase (Decrease) in Accounts Payable and Due to Others 312,126
Net Cash Provided (Used) by Operating Activities $ (2,000,000)
33
NOTES TO FINANCIAL STATEMENTS
JUNE 30, 2022
1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Richland County School District Two (the School District) is governed by a seven member elected Board
of Trustees (the Board). The School District is located in suburban Columbia, South Carolina, in the
Northeast section of Richland County. The School District provides a broad range of general and
specialized elementary and secondary educational services for students in pre-school through grade
twelve, and derives its local revenue from the tax base in these areas. In addition, the School District
receives funding from the State of South Carolina and the United States Federal Government and must
comply with the related requirements of these funding source entities.
The financial statements of the School District have been prepared in conformity with accounting principles
generally accepted in the United States of America (GAAP) as applied to governmental units. The
Governmental Accounting Standards Board (GASB) is the accepted standard setting body for establishing
governmental accounting and financial reporting principles.
A. Reporting Entity
The School District’s financial statements include all funds over which the Board is considered to be
financially accountable. The School District receives funding from local, state and federal governmental
sources and must comply with the requirements of these funding source entities. Richland County School
District Two is the lowest level of government which has financial accountability and control over all activities
related to public school education in the School District. The School District is not included in any other
governmental “reporting entity”, since members of the School Board of Trustees are elected by the public
and since members have decision making authority, the power to designate management, the ability to
significantly influence operations, and have primary accountability for fiscal matters. The School District
invests funds and receives property tax revenues through its relationship with Richland County.
The School District has determined that there are no affiliate entities (such as parent-teacher organizations,
foundations and athletic booster clubs) that meet the requirements for inclusion as a discretely presented
component.
B. Measurement Focus, Basis of Accounting and Financial Statement Presentation
The statements of the School District are presented as follows:
Government-Wide Financial Statements - The Statement of Net Position and the Statement of Activities
report information about the School District as a whole. Government-wide financial statements are reported
using the economic resources measurement focus and the accrual basis of accounting. Revenues are
recorded when earned and expenses are recorded when a liability is incurred, regardless of the timing of
the cash flows. These statements include the financial activities of the School District. The effect of inter-
fund activity has been eliminated from the statements in the consolidation process, with the exception of
the inter-fund services provided and used. Governmental activities, which normally are supported by taxes
and intergovernmental revenues, and other non-exchange transactions, are reported separately from
business-type activities, which rely to a significant extent on fees and charges for support.
The government-wide statement of activities presents a comparison between direct expenses and
program revenues for each segment of the business-type activities of the School District and for each
function or program of the School District’s governmental activities. Direct expenses are those that are
clearly identifiable with a specific function or segment.
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JUNE 30, 2022
Program revenues include; 1) charges to customers or applicants who purchase, use, or directly benefit
from goods, services or privileges provided by a given function or segment and 2) grants and contributions
that are restricted to meeting the operational or capital requirements of a particular function or segment.
Revenues, including taxes, which are not classified as program revenues are presented as general
revenues of the School District with certain limited exceptions. The comparison of direct expenses with
program revenues identifies the extent to which each business segment or governmental function is self-
financing or draws from the general revenues of the School District.
Fund Financial Statements - Fund financial statements report detailed information about the School
District. The focus of governmental fund financial statements is on major funds rather than reporting funds
by type. The governmental fund financial statements are reported using the flow of current financial
resources measurement focus and the modified accrual basis of accounting. Revenues are recognized as
soon as they are both measurable and available. Revenues are considered to be available when they are
collectible within the current period or soon enough thereafter to pay liabilities of the current period. For this
purpose, the government considers revenues to be available if they are collected within 60 days of the end
of the current fiscal period. Expenditures generally are recorded when a liability is incurred, as under accrual
accounting. However, debt service expenditures, as well as expenditures related to compensated absences
and claims and judgments, are recorded only when payment is due.
Because the government–wide financial statements and the fund financial statements are prepared using
a different measurement focus, the financial section of the statements includes a reconciliation with brief
explanations to better identify the relationship between the government-wide and governmental fund
statements.
Property taxes, franchise taxes, licenses, and interest associated with the current fiscal period
are all considered to be susceptible to accrual and so have been recognized as revenues of the
current fiscal period. All other revenue items are considered to be measurable and available
only when cash is received by the government.
Fund financial statements report detailed information about the School District. The financial statements
for governmental funds are the balance sheet, which generally includes only current assets and current
liabilities, and a statement of revenues, expenditures and changes in fund balance, which reports on the
sources (i.e., revenues and other financing sources) and uses (i.e., expenditures and other financial uses)
of current financial resources. The focus of governmental fund financial statements is on major funds rather
than reporting funds by type. Each major fund is presented in a separate column. Non-major funds are
aggregated and presented in a single column. All proprietary fund types are accounted for on a flow of
economic resources measurement focus. With this measurement focus, all assets and all liabilities
associated with the operation of these funds are included on the statement of net position. The statement
of changes in fund net position presents increases (i.e., revenues) and decreases (i.e., expenses) in net
total assets.
Cash Flow Statement - The statement of cash flows provides information about how the School District
finances and meets cash flow needs of its proprietary activities. For purposes of the statement of cash
flows, the proprietary fund considers all highly liquid investments with an original maturity of three months
or less to be cash equivalents.
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JUNE 30, 2022
FUND ACCOUNTING
As outlined on the previous page, the accounts of the School District are organized on the basis of funds.
A fund is an independent fiscal and accounting entity with a self-balancing set of accounts. Fund accounting
segregates funds according to their intended purpose and is used to aid management in demonstrating
compliance with finance-related legal and contractual provisions. The various funds of the School District
are grouped into the categories governmental and proprietary.
The School District has the following major funds and fund types:
Governmental Fund Types
Governmental funds focus on the sources, uses and balances of current financial resources. Expendable
assets are assigned to the various governmental funds according to the purposes for which they may or
must be used. Current liabilities are assigned to the fund from which they will be paid. The difference
between governmental fund assets and deferred outflows of resources and liabilities and deferred inflows
of resources is separated as fund balance. The following are the School District’s major governmental
funds:
General Fund - The General Fund is a budgeted fund and serves as the primary operating fund of the
School District. The School District uses this fund to account for expenditures principally for
administration, instruction, pupil services, operations and maintenance of plant and related fixed
charges. It accounts for all revenues and expenditures of the School District except those required to
be accounted for in another fund. All general tax revenues and other receipts that are not allocated by
law or contractual agreement to other funds are accounted for in the General Fund. General operating
expenditures and the capital improvement costs that are not paid through other funds are paid from the
General Fund.
Special Revenue Funds - Special Revenue Funds are used to account for specific revenue sources
(other than debt service or major capital projects) that require separate accounting because of legal or
regulatory provisions or administrative action. The School District has three Special Revenue Funds:
1. The Special Projects Fund, used to account for financial resources provided by federal, state,
local projects and grants. In accordance with GASB 84, the student (pupil) activity fund has
been reported in the Special Projects Fund rather than classified as an agency fund. Budgets
are prepared on a per project basis, generally with approval of the funding source. These
budgets are not a part of the formal budget process approved by the board of trustees.
2. The Education Improvement Act (EIA) Fund, used to account for the revenue from the South
Carolina Education Improvement Act of 1984, which is legally required by the state to be
accounted for as a specific revenue source. Budgets are prepared on a per project basis. These
budgets are not part of the formal budget process approved by the board of trustees.
3. The Food Service Fund, is used to account for the United States Department of Agriculture’s
(USDA) approved school breakfast and lunch programs. The principal revenues of the Food
Service Fund include charges to students and teachers for breakfast, lunch and special sales
and federal reimbursements for meals and commodities. Primary expenditures for the fund
includes cost of sales, administrative expenses and depreciation of capital assets. Budgets for
the Food Service Fund are not part of the formal budget process approved by the board of
trustees.
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JUNE 30, 2022
Capital Projects Fund – used to account for financial resources to be used for site acquisitions,
construction of major capital facilities, equipment and renovation of all major capital facilities.
Debt Service Fund - used to account for annual payments of principal and interest on long-term
general obligation debt and related costs.
Proprietary Fund Types
Proprietary funds are accounted for based on the flow of economic resources measurement focus and use
the accrual basis of accounting. Under this method, revenues are recorded when earned and expenses are
recorded at the time liabilities are incurred.
Proprietary funds distinguish operating revenues and expenses from non-operating items. Operating
revenues and expenses generally result from providing services and producing and delivering goods in
connection with a proprietary fund’s principal ongoing operations.
Internal Service Fund is used to account for the financing of goods and services provided by one
department or agency to other departments or agencies of the School District. When services
are rendered, charges are made to the users and revenue is accumulated in the Internal Services
Fund to cover costs of operations.
The Worker’s Compensation Fund is the School District’s only Internal Service Fund. This fund
accounts for the insurance and risk management services of the School District and services
provided are on a cost reimbursement basis. The assets and related liabilities for the Internal
Service Fund are included in the governmental activities column on the government-wide
Statement of Net Position.
BASIS OF ACCOUNTING
Basis of accounting determines when transactions are recorded in the financial records and reported on
the financial statements. Government-wide financial statements are prepared using the accrual basis of
accounting. Governmental funds use the modified accrual basis of accounting. Propriety funds also use
the accrual basis of accounting.
Revenues resulting from exchange transactions, in which each party gives and receives essentially equal
value, are recorded on the accrual basis when the exchange takes place. On a modified accrual basis,
revenue is recorded in the fiscal year in which the resources are measurable and become available.
Available means that the resources will be collected within the current fiscal year or are expected to be
collected soon enough thereafter to be used to pay liabilities of the current fiscal year. For the School
District, available means expected to be received within sixty days of the fiscal year-end.
The School District follows GASB Statement No. 33, Accounting and Financial Reporting for Non-Exchange
Transactions to account for non-exchange revenues. Non-exchange transactions, in which the School
District receives value without directly giving equal value in return, include property taxes, grants,
entitlements and donations. On an accrual basis, property tax revenues are recognized in the fiscal year
for which they are appropriated by the County. Revenues from grants, entitlements and donations are
recognized in the fiscal year in which all eligibility requirements have been satisfied.
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JUNE 30, 2022
Eligibility requirements include timing requirements, which specify the year when the resources are required
to be used or the fiscal year when use is first permitted, matching requirements, in which the School District
must provide local resources to be used for a specified purpose, and expenditures requirements, in which
the resources are provided to the School District on a reimbursement basis. On a modified accrual basis,
revenue from non-exchange transactions must also be available before it can be recognized. Under the
modified accrual basis, the following revenue sources are considered to be both measurable and available
at fiscal year-end; property taxes, interest, tuition, grants, student fees and rentals.
Unearned Revenue arises when assets are recognized before revenue recognition criteria have been
satisfied. Delinquent property taxes and property taxes for which there is an enforceable legal claim as of
the School District’s fiscal year-end, but which have not met the revenue recognition criteria, have been
recorded as unearned revenue. Grants and entitlements received before revenue recognition requirements
are met are also recorded as unearned revenue. On governmental fund financial statements, receivables
that will not be collected within the available period have also been reported as unearned revenue.
The measurement focus of governmental fund accounting is on decreases in net financial resources
(expenditures) rather than expenses. Expenditures are generally recognized in the accounting period in
which the related fund liability is incurred, if measurable. Allocations of cost, such as depreciation, are not
recognized in governmental funds.
C. Assets, Liabilities and Equity
Cash and Investments – South Carolina statutes authorize investments in certificates of deposits, savings
accounts, repurchase agreements, the State Treasurer’s Local Government Investment Pool (invested in
government guaranteed securities), general obligations of the State of South Carolina or any of its political
units, obligations of the U.S. Government and government agencies unconditionally guaranteed by the U.S.
Government. Investments are recorded at fair value.
South Carolina Local Government Investment Pool (“SC Pool” or “LGIP”) investments are invested with
the South Carolina State Treasurer’s Office, which established the LGIP pursuant to Section 6-6-10 of the
South Carolina Code. The LGIP is an investment trust fund, in which public monies in excess of current
needs, which are under the custody of any city treasurer or any governing body of a political subdivision
of the State, may be deposited. The LGIP is a 2a 7-like pool which is not registered with the Securities
and Exchange Commission (“SEC”) as an investment company, but has a policy that it will operate in a
manner consistent with the SEC’s Rule 2a 7 of the Investment Company Act of 1940. In accordance with
GASB Statement No. 31 “Accounting and Financial Reporting for Certain Investments and for External
Investment Pools”, investments are carried at fair value determined annually based upon quoted market
prices. The total fair value of the LGIP is apportioned to the entities with funds invested on an equal basis
for each share owned, which are acquired at a cost of $1.00. Funds may be deposited by Pool participants
at any time and may be withdrawn upon 24 hours’ notice. Financial statements for the LGIP may be
obtained by writing the Office of the State Treasurer, Local Government Investment Pool, P.O. Box 11778,
Columbia, SC 29211-1960.
The Richland County Treasurer invests in authorized instruments on behalf of the School District. The
Richland County Treasurer invests School District and other entity funds on a pooled basis with the
Treasurer of the State of South Carolina. The State Treasurer invests in certificates of deposit, insured
savings accounts, repurchase agreements, obligations of the United States Government and government
agencies guaranteed by the United States Government.
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JUNE 30, 2022
The School District considers all highly liquid investments (including restricted assets) with original
maturities of three months or less when purchased and investments in the South Carolina Pooled
Investment Fund (“Pool”) to be cash equivalents.
Interfund Receivables and Payables – Transactions between funds that represent reimbursement
arrangements outstanding at the end of the year are referred to as “due from other funds” or “due to other
funds” on the fund financial statements. These amounts are eliminated in the governmental and business-
type activities columns of the statement of net position, except for the net residual amounts due between
governmental and business-type activities, which are presented as “internal balances”. All trade and
property tax receivables are shown net of an allowance for uncollectible amounts.
Prepaid Items – Certain payments to vendors reflect costs applicable to future accounting periods and are
recorded as prepaid items in both government-wide and fund financial statements using the consumption
method. A current asset for the prepaid amount is recorded at the time of the purchase and an
expenditure/expense is reported in the year consumed.
Capital Assets – General capital assets are those assets not specifically related to activities reported in
the enterprise fund. These assets generally result from expenditures in the governmental funds.
These assets are reported in the governmental activities column of the government-wide statement of net
position but are not reported in the fund financial statements. Capital assets utilized by the enterprise fund
are reported in both the business-type activities column of the government-wide statement of net position
and in the respective fund financial statements.
All capital assets are capitalized at cost (or estimated historical cost) and updated for additions and
retirements during the year. Donated capital assets, donated works of art and similar items, and capital
assets received in a service concession arrangement are reported at acquisition value. The district
maintains a capitalization threshold of $5,000. Management may elect to include certain homogeneous
asset categories with individual assets less than $5,000 as composite groups for financial reporting
purposes. The costs of normal maintenance and repairs that do not add to the value of the assets or
materially extent the life of the asset’s life are not capitalized. For purposes of reporting state and federal
funds, small equipment items that may not be capitalized are still categorized as capital outlays in the
supporting schedules. The School District does not maintain any infrastructure. Improvements to existing
capital assets are capitalized; however, the cost of normal maintenance and repairs that do not add to the
value of the asset or materially extend an asset’s life are expensed.
In the enterprise fund, assets acquired or constructed by grants and share revenues externally restricted
for capital acquisitions and construction are reported as revenue in the period received in accordance with
Governmental Accounting Standards Board Statement No. 33.
All reported capital assets, except land and construction in progress, are depreciated. Construction
projects begin being depreciated once they are complete, at which time the complete costs of the project
are transferred to the appropriate capital asset category. Improvements are depreciated over the
remaining useful lives of the related capital assets.
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JUNE 30, 2022
Depreciation is computed using the straight-line method over the following useful lives:
Governmental Food Service
Activities Activities
Description Estimated Lives Estimated Lives
Buildings and Improvements 20-39 years N/A
Furniture and Equipment 5 years 12 years
Vehicles 5 years N/A
Compensated Absences – Compensated absences are payments to employees for accumulated

vacation and sick leave. Vacation leave is earned by employees up to a maximum of ten days. The School
District’s policy at fiscal year-end is to allow twelve-month employees to carry over five days, which are
lost if not used by the following December 31. When an employee with over fifteen years of service retires
or otherwise terminates the School District pays out all unused accrued annual and sick leave days at the
current substitute rate of pay. Employees can accrue up to fifty-seven sick leave days.
All vacation pay is accrued when incurred in the government-wide financial statements. Liabilities for
compensated absences are reported as fund liabilities when amounts are due and payable rather than to
the extent that they will be paid with current, expendable and available financial resources. In the
proprietary funds, compensated absences are recorded as an expense and liability of the fund as the
benefits accrue to employees.
Accrued Liabilities and Long-term Obligations – All payables, accrued liabilities and long-term
obligations are reported on the governmental fund financial statements regardless of whether they will be
liquidated with current resources. However, claims and judgments, the non-current portion of capital
leases, contractually required pension contributions and special termination benefits, and compensated
absences that will be paid from governmental funds are reported as a liability in the fund financial
statements only to the extent that they will be paid with current expendable, available, financial resources.
In general, payments made within sixty days after year-end are considered to have been made with current
available financial resources. Typically, the General Fund is used to liquidate any liability related to
compensated absences. Bonds and other long-term obligations that will be paid from governmental funds
are not recognized as a liability in the fund financial statements until due.
For governmental funds, bond premiums and discounts, as well as issuance costs, are recognized during
the current period. Bond proceeds are reported as other financing sources net of the applicable premium
or discount. Issuance costs, even if withheld from actual net proceeds received, are reported as debt
service expenditures.
Net Pension Liability – For purposes of measuring the net pension liability, deferred outflows of
resources and deferred inflows of resources related to pensions, and pension expense, information about
the fiduciary net position of the South Carolina Retirement System (SCRS) and the South Carolina Police
Officers Retirement System (PORS) and additions to/deductions from SCRS’ and PORS’ fiduciary net
position have been determined on the same basis as they are reported by SCRS or PORS. For this
purpose, benefit payments (including refunds of employee contributions) are recognized when due and
payable in accordance with the benefit terms.
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JUNE 30, 2022
Net OPEB Liability – For purposes of measuring the net OPEB liability, deferred outflows of resources
and deferred inflows of resources related to OPEB, and OPEB expense, information about the fiduciary
net position of the South Carolina Retiree Health Insurance Trust Fund (SCRHITF) and the South Carolina
Long-Term Disability Insurance Trust Fund (SCLTDITF) and additions to/deductions from SCRHITF’ and
SCLTDITF’ fiduciary net position have been determined on the same basis as they are reported by
SCRHITF or SCLTDITF. For this purpose, benefit payments are recognized when due and payable in
accordance with the benefit terms.
Deferred Outflows of Resources and Deferred Inflows of Resources - Deferred outflows of resources
represent a consumption of net assets that applies to future periods. Deferred inflows of resources
represent an acquisition of net assets that applies to future periods. Changes in net pension liability not
included in pension expense are reported as deferred outflows of resources or deferred inflows of
resources. Employer contributions subsequent to the measurement date of the net pension liability are
reported as deferred outflows of resources. Likewise, changes in net OPEB liability not included in OPEB
expense are reported as deferred outflows of resources or deferred inflows of resources. Employer
contributions subsequent to the measurement date of the net OPEB liability are reported as deferred
outflows of resources.
Fund Balances, Equity and Net Position – The School District reports fund balance in accordance with
GASB Statement No. 54, Fund Balance Reporting and Governmental Fund Type Definitions. This
Statement defines five classifications of governmental fund balances: non-spendable, restricted,
committed, assigned and unassigned. Where applicable, these classifications are presented on the face
of the governmental fund balance sheet. The School District’s highest level of decision-making authority
is the Board of Trustees.
The School District classifies fund balances as follows:
Non-spendable – This includes amounts that inherently cannot be spent either because it is not
in spendable form (i.e. prepaid items, inventories, etc.) or because of legal or contractual
requirements (i.e. principal amount of resources that are required to remain intact.)
Restricted – This includes amounts that have constraints placed on the use of resources
externally imposed by creditors, grantors, or contributors.
Committed – This includes amounts that have constraints for specific purposes by the School
District itself, using its highest level of decision-making authority, which as noted above is the
Board of Trustees. Constraints must remain in place unless removed in the same manner as
imposed and must take place no later than the close of the fiscal year. Required formal action
would be in the form of a resolution by the Board of Trustees.
Assigned – This includes amounts that the School District intends to use for specific purposes
that are neither considered restricted nor committed and these assignments are made before
the report issuance date. The intent to assign these balances can be expressed by the Board of
Trustees with a resolution or approval of recommendation by the Board of Trustees.
Unassigned – This includes amounts that do not qualify to be accounted for or reported in any
of the other fund balance categories. The general fund is the only fund that reports a positive
unassigned fund balance amount. In other governmental funds, if expenditures incurred for
specific purposes exceed the amounts that are restricted, committed, or assigned to those
purposes, it may be necessary to report a negative unassigned fund balance in that fund.
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The School District applies restricted resources when expenditures are incurred for the purposes for
which both restricted and unrestricted net position is available. The School District applies assigned,
then unassigned fund balance. Committed resources can only be applied if the Board of Trustees takes
formal action to release resources for incurring expenditures.
Net Position
Net position represents assets plus deferred outflows of resources less liabilities less deferred inflows of
resources. Net investment in capital assets consists of capital assets reduced by accumulated
depreciation and the outstanding balances of any borrowings used for the acquisition, construction or
improvement of those assets. Outstanding debt, that has not been spent, is included in the same net
position component as the unspent proceeds. Net position is reported as restricted when there are
limitations imposed on their use either through the enabling legislation or through external restrictions
imposed by creditors, grantors or laws or regulations of other governments.
The School District applies restricted resources when an expense is incurred for the purposes for which
both restricted and unrestricted net position is available.
Inter-fund Activity – Transfers between governmental and business-type activities on the government-
wide statements are reported in the same manner as general revenues. Transfers between governmental
funds and enterprise funds and enterprise balances are eliminated.
Exchange transactions between funds are reported as revenues in the seller funds and as
expenditures/expenses in the purchaser funds. Flows of cash or goods from one fund to another without a
requirement for repayment are reported as inter-fund transfers. Inter-fund transfers are reported as other
financial sources/uses in governmental funds and other non-operating revenues/expenses in proprietary
funds. Repayments from funds responsible for particular expenditures/expense to the funds that initially
paid for them are not presented on the financial statements.
Operating Revenue and Expenses – Operating revenues are those revenues that are generated directly
from the primary activity of the proprietary funds.
Use of Accounting Estimates – The preparation of financial statements in accordance with accounting
principles generally accepted in the United States of America requires the School District’s management to
make estimates and assumptions. These estimates and assumptions affect the reported amounts of assets
and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and
the reported amounts of revenue and expenses during the reporting period. Actual results could differ from
those estimates.
Fair Value
The fair value measurement and disclosure framework provides for a three-tier fair value hierarchy that
gives the highest priority to quoted prices in active markets for identical assets or liabilities (Level 1
measurements) and the lowest priority to unobservable inputs (Level 3 measurements). The three levels of
the fair value hierarchy are described below:
Level 1 – Inputs to the valuation methodology are unadjusted quoted prices for identical assets or
liabilities in active markets that the District can access at the measurement date.
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JUNE 30, 2022
Level 2 – Inputs to the valuation methodology, other than quoted prices included in Level 1, that are
observable for an asset or liability either directly or indirectly include:
• Quoted prices for similar assets or liabilities in active markets.

• Quoted prices for identical or similar assets or liabilities in inactive markets.
• Inputs, other than quoted market prices, that are observable for the asset or liability.
• Inputs that are derived principally from or corroborated by observable market data by correlation or
other means.
Level 3 – Inputs to the valuation methodology that are unobservable for an asset or liability and include:
• Fair value is often based on developed models in which there are few, if any, observable inputs.
Budgetary Accounting
The Board of Trustees adopts a legal annual appropriated budget for the general fund revenues and
expenditures on the modified accrual basis of accounting which is consistent with accounting principles
generally accepted in the United States of America each fiscal year. The budget is prepared, controlled,
and amended at the revenue and expenditure object level. The Superintendent and/or Senior Chief Officer
for Finance and Operations may authorize line item transfers in the general fund budget that are subject to
final review by the Board. Revisions to the budget were made throughout the year at the legal level of
budgetary control.
During the fiscal year, no additional appropriations to the general fund budget were adopted. Unexpended
appropriations lapse at fiscal year-end. Expenditures may not legally exceed budgeted appropriations at
the fund level unless, in a supplementary action , the Board approves an increase or decrease to the fund
or the School District’s “per pupil” state allotment changes whereby management can increase or decrease
expenditures to match the change in state appropriations. Supplemental budget appropriations are made
by the Board for expenditures exceeding total appropriations within the legal level of control.
The following procedures are followed in establishing the General Fund budgetary data reflected in the
financial statements:
1. The initial step in the budget development process is the adoption of budget priorities by the Board
of Trustees.
2. The Financial Services Office develops revenue projections based on enrollment projections and
data received from the State Department of Education.
3. Input is obtained from District stakeholders and compiled by Administration.
4. The Superintendent submits a budget to the Board for approval.
5. The Board recommends a budget to County Council around April.
6. The County Council has three readings on the budget and a public hearing.
7. After approval by County Council, the Board approves a final budget.
Special Revenue Fund budgets are developed and controlled in conformance with the specific requirements
of each grant or funding agency. These budgets are not legally adopted by the School Board. Both General
and Special Revenue Fund budgets are used as a management control device during the year.
The Administration has discretionary authority to make transfers between appropriation accounts. The
budget amounts in the financial statements are as amended by Administration. No supplemental
appropriations were necessary during the year.
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Encumbrances
The appropriations of the general fund of the School District lapse at June 30 each year and the outstanding
purchase orders, contracts, and other commitments must be renewed. Therefore, there are no restrictions
or assignments of the fund balances at year-end for encumbrances.
2. CASH AND INVESTMENTS
At June 30, 2022, the carrying amount of the School District’s deposits and investments was $180,037,033
and the bank balance was $189,998,419.
Custodial Credit Risk for Deposits: Custodial credit risk for deposits is the risk that, in the event of a
bank failure, the School District’s deposits might not be recovered. The School District does not have a
deposit policy for custodial credit risk but follows the investment policy statues of the State of South
Carolina. As of June 30, 2022, none of the School District’s bank balances of $34,858,895, which had a
carrying value of $24,898,508, were exposed to custodial credit risk.
As of June 30, 2022, the School District had the following investments:
Fair Value
Investment Type Level Maturities Credit Rating Fair Value
SC Local Government Investment Pool N/A Various Unrated $ 128,329,796
Certificates of Deposit Level 1 Various Unrated 794,662
Regions – Morgan Stanley Liquidity Fund Level 1 Various Unrated 581,328
US Bank – Morgan Stanley GIC Level 1 9/1/2027 Unrated 25,432,739
Total Investments $ 155,138,525
Interest Rate Risk: The School District’s Interest Rate Risk policy states that to address interest rate risk
(i.e., fair value losses arising from increasing interest rates), the district will not invest in maturities
exceeding 24 months.
Custodial Credit Risk for Investments: In the case of deposits, custodial credit risk is the risk that in the
event of a bank failure, the School District’s deposits may not be returned to it. Custodial credit risk for
investments is the risk that, in the event of a failure, the government will not be able to recover the value of
its investments or collateral securities that are in possession of an outside party. The School District’s
investment policy operates in conformance with federal, state and other legal requirements, as outlined in
the Code of Laws, State of South Carolina, Section 59-69-215. To address the risk that the School District’s
deposits will not be returned, the School District will only use instruments that are collateralized by third
parties or insured by the Federal Deposit Insurance Corporation. As of June 30, 2022, all of the District’s
deposits were collateralized with securities held by the pledging financial institution’s trust department or its
agent, and in the School District’s name or insured by the Federal Deposit Insurance Corporation.
Information was not available regarding the custodial credit risk of deposits with the Richland County
Treasurer of $104,008,115.
South Carolina statutes authorize investments in certificates of deposits, savings accounts, repurchase
agreements, the State Treasurer’s Local Government Investment Pool, obligations of the U.S. Government
and government agencies unconditionally guaranteed by the U.S. Government. The School District has no
policy that would further restrict these investment choices.
The SC Local Government Investment Pools is not rated.
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JUNE 30, 2022
Concentration of Credit Risk for Investments: The School District places no limit on the amount it may
invest in any one issuer. Investments issued or explicitly guaranteed by the U.S. Government and
investments in mutual funds and external investment pools and other pooled investments are exempt from
concentration of credit risk disclosures.
The following table reconciles the carrying amount of deposits and investments to the amounts listed in
the financial statements for all fund types:
Basic Financial Statements Notes to Financials

Cash and Investments: Carrying Amount of
Governmental Funds $ 178,355,529 Deposits: $ 24,898,508
Internal Service Fund 1,681,504 Fair Value of
Investments: 155,138,525
$ 180,037,033 $ 180,037,033
3. PROPERTY TAXES AND OTHER RECEIVABLES
Property taxes are levied, collected and distributed by Richland County (the County) on real and personal
properties owned on the preceding December 31 of each fiscal year ended June 30. Liens are attached to
the property at the time the taxes are levied, which usually occurs in November of each year. These taxes
are due without penalty through January 15.
Penalties are added to taxes when paid after January 15 depending on the period of time the tax is
delinquent. Property taxes are levied and billed on an assessed value of a little over $636.3 million at tax
rates of 331.7 mills for the general fund and 104.0 mills for the debt service fund.
Current year real and personal property taxes become delinquent on April 1. The levy date for motor vehicle
taxes is the first day of the month in which the motor vehicle license expires. These taxes are due by the
last day of the same month. Taxes levied for the 2021-2022 fiscal year totaled over $168.7 million, for the
General Fund and Debt Service Fund. Of this total amount levied, approximately $159.0 million was
collected during the fiscal year, representing 94.2% collection of the total levied for the year ending June
30, 2022. Collections for delinquent taxes for both funds totaled approximately $7.5 million. In addition,
fees in lieu of taxes collected totaled over $5.3 million for both funds.
South Carolina Code Section 12-37-251(A) provides a property tax exemption for property classified
pursuant to Section 12-43-220(C) (homestead exemption) from property taxes levied for other than bonded
indebtedness and payments pursuant to lease purchase agreements for capital construction. The
exemption applies against millage imposed for school operations and the amount of fair market value of
the homestead that is exempt from such millage must be set by the Department of Revenue and Taxation
based on the amount available in the State Property Tax Relief Fund.
Taxes receivable in the government funds, including general fund and debt service fund, are $1,666,114
net of allowances for uncollectible at June 30, 2022.
Governmental funds report unearned revenue in connection with receivables for revenues that are not
considered to be available to liquidate liabilities of the current period. Governmental funds also defer
revenue recognition in connection with resources that have been received, but not yet earned.
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At June 30, 2022, the various components of unavailable revenue and unearned revenue reported in the
governmental funds were as follows:
Special Revenue Special

General Special Revenue- Debt Service
Fund Projects Fund EIA Fund Fund Total
Unavailable Revenue -
Property Taxes $ 401,828 $ $ $ 125,987 $ 527,815
Unearned Revenue 5,576,430 3,562,739 9,139,169
Total $ 401,828 $ 5,576,430 $ 3,562,739 $ 125,987 $ 9,666,984
4. DUE FROM STATE DEPARTMENT OF EDUCATION AND OTHER STATE AGENCIES

The Due from State Department of Education and Federal Agencies represents amounts due for state and
federal revenues that had been earned as of June 30, 2022, but had not been received as of June 30, 2022.
The total amount Due to the State Department as of June 30, 2022 was $234,814.
5. CAPITAL ASSETS
A summary of changes in capital assets for the School District is as follows:
Balance as of Disposals/ Balance as of
Additions
July 1, 2021 Transfers June 30, 2022
Non-depreciable Assets:
Land $ 27,340,376 $ $ $ 27,340,376
Construction in Progress 162,149,130 107,727,350 269,876,480
Total Non-depreciable 189,489,506 107,727,350 - 297,216,856
Depreciable Assets:
Buildings and Improvements 750,334,871 136,038 750,470,909
Vehicles 7,311,959 779,074 8,091,033
Furniture & Equipment 28,753,100 423,613 29,176,713
Total Depreciable Assets 786,399,930 1,338,725 - 787,738,655

Total All Assets 975,889,436 109,066,075 - 1,084,955,511
Less: Accumulated Depreciation

Buildings and Improvements (278,613,099) (18,364,478) (296,977,577)
Vehicles (5,533,761) (659,720) (6,193,481)
Furniture & Equipment (26,494,838) (810,933) (27,305,771)
Total Accumulated Depreciation (310,641,698) (19,835,131) - (330,476,829)
Governmental Activities Capital

$ 665,247,738 $ 89,230,944 $ - $ 754,478,682
Assets, Net
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Depreciation expense was charged to functions/programs of the primary government as follows:
Instruction $ 13,884,592
Supporting Services 5,950,539
Total Depreciation Expense – governmental activities $ 19,835,131
Intangible Right-to-Use Assets

During the year ended June 30, 2022, the School District implemented the guidance in GASBS No. 87,
Leases for accounting and reporting leases that had previously been reported as operating leases. As of
June 30, 2022, the School District had lease agreements in place for copiers/printers. The minimum future
lease obligation as of June 30, 2022 was $645,928. The School District has determined that the intangible
right-to-use assets are not material and no such assets have been recognized as of June 30, 2022.
6. INTER-FUND RECEIVABLES AND PAYABLES

Inter-fund balances at June 30, 2022 consisted of the following individual fund receivables and payables:
Fund Receivables Payables

General Fund:
Due from Special Revenue – Special Projects $ 7,478,464 $
Due to Special Revenue – EIA 3,776,856
Due to Special Revenue – Food Service Fund 8,108,835
Due from Debt Service 31,150
Due to Capital Projects Fund 20,468,078
Due to Internal Service Fund 2,381,313
Total 7,509,614 34,735,082
Special Revenue – Special Projects
Due to General Fund 7,478,464
Due to Special Revenue – EIA 2,850
Special Revenue – EIA
Due from Special Revenue – Special Projects 2,850
Special Revenue – Food Service Fund
Debt Service
Due to General Fund 31,150
Capital Projects
Internal Service Fund
Totals $ 42,247,546 $ 42,247,546
The district uses a General Fund Cash account to pay expenditures and receive payments from State and
Federal Agencies for other district funds. As a result, receivables and payables exist at year end that are
either due to or due from the General Fund to/from other funds. These funds will be collected or disbursed
in the subsequent fiscal year. Other inter-fund balances include Special Revenue payments not received
from the State Department of Education until after the fiscal year end, fringe amounts paid by the General
Fund for Food Service, indirect cost transfers adjustments made at year end and adjustments made at year
end for Taxes receivable for Debt Service, and building project costs.
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JUNE 30, 2022
7. TRANSFERS IN AND OUT

Transfers between the various funds of the School District for the year ending on June 30, 2022
are as follows:
Fund Transfers In Transfers Out
General Fund:
Special Revenue – Special Projects $ $ 444,000
Special Revenue – Special Projects Indirect Cost 2,345,992
Special Revenue – EIA 8,868,556
Special Revenue – Food Service Fund 383,832
Special Revenue – Food Service Fund Indirect Cost 379,925
Debt Service Fund 1,591,211
Capital Project Funds 10,000,000
Internal Service Fund 2,000,000
Total 11,594.473 14,419,043

Special Revenue – EIA
General Fund 8,868,556
Special Revenue – Special Projects
General Fund 444,000
General Fund – Indirect Cost 2,345,992
Special Revenue – Food Service Fund

General Fund 383,832
General Fund – Indirect Cost 379,925
Debt Service Fund

Capital Projects Fund

Internal Service Fund

Total All Funds $ 26,013,516 $ 26,013,516
During the 2021-2022 fiscal year, transfers were made from Special Revenue-Special Project
Funds to the General Fund for indirect costs paid to the General Fund. Transfers from the General
Fund into Special Revenue – Special Projects reflect amounts allocated as discretionary funds for
student activities and athletic programs. Annual transfers are done from the Special Revenue – EIA
fund into the General fund for State revenues provided for teacher salary increases and employer
fringe contributions. Amounts were transferred from the Food Service fund for indirect costs paid
to the General fund and a transfer was made from the General Fund into the Food Service Fund to
allocate state fringe benefits reimbursement funds applicable to the Food Service Program.
In addition, funds were transferred from the General Fund to the Internal Service Fund in order to
cover the cost associated with the Self-insured Workers’ Compensation program and the required
reserves at June 30, 2022. Funds were also transferred from the General Fund to the Debt Service
fund for costs associated with closing costs and to cover the annual payment on the equipment
acquisition payments. In February 2022, the Board of Trustees approved a $10.0 million allocation
from the General Fund to the Capital Project funds to help offset costs associated with annual
capital improvement needs.
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8. LONG TERM OBLIGATIONS

The following summarizes the changes in long-term debt obligations for the year ended June 30, 2022:
Principal Principal Amounts

Outstanding Outstanding Due in
Governmental Activities July 1, 2021 Additions Reductions June 30, 2022 One Year
General Obligation Bonds:

May 25, 2010 (A) $ 6,450,000 (1,075,000) 5,375,000 $ 1,075,000
September 8, 2010 42,620,000 42,620,000
April 25, 2013 48,000,000 (44,000,000) 4,000,000 4,000,000
May 21, 2014 4,060,000 (1,980,000) 2,080,000 2,080,000
March 10, 2015 42,540,000 (20,030,000) 22,510,000 22,510,000
May 30, 2017 2,075,000 (2,075,000) -
November 30, 2017 39,490,000 (2,980,000) 36,510,000 4,355,000
June 12, 2018 3,600,000 (3,600,000) -
September 26, 2019 84,800,000 (100,000) 84,700,000 100,000
May 1, 2020 37,965,000 (11,050,000) 26,915,000 8,475,000
October 14, 2020 148,445,000 (500,000) 147,945,000 500,000
October 27, 2021 - 74,995,000 (500,000) 74,495,000 500,000
March 9, 2022 - 42,180,000 (679,000) 41,501,000 431,000
Total General Obligation Bonds 460,045,000 117,175,000 (88,569,000) 488,651,000 44,026,000
Special Obligation Bonds:

July 26, 2016 630,000 (313,000) 317,000 317,000
June 9, 2020 18,095,000 (670,000) 17,425,000 745,000
Total Special Obligation Bonds 18,725,000 - (983,000) 17,742,000 1,062,000
Unamortized Bond Premiums 48,593,670 7,715,430 (8,253,730) 48,055,370 5,125,726

Accrued Compensated Absences 6,846,888 1,124,843 (1,674,426) 6,297,305 700,649
Total $ 534,210,558 126,015,273 (99,480,156) 560,745,675 $ 50,914,375
During the 2021-2022 fiscal year, the School District issued $74,995,000 in General Obligation Bonds to
continue annual projects approved under the 2018 Bond Referendum. The referendum consist of safety
upgrades and improvements, facility upgrades and additions and numerous improvements throughout the
district.
On March 9, 2022, the School District issued $42,180,000 in general obligation refunding bonds with an
interest rate of 1.72%. The School District issued the bonds to advance refund $40,000,000 of the
outstanding 2013B general obligation bonds with rates ranging between 2.90% and 4.00%. The School
District placed the net proceeds of $42,046,000 into an irrevocable trust to provide for all future debt service
on the refunded portion of the 2013B general obligation bonds. As a result, that portion of the 2013B
general obligation bonds is considered defeased, and the School District has removed the liability from its
accounts. The outstanding principal of the defeased bonds is $40,000,000 at June 30, 2022. The advance
refunding reduced total debt service payments over the next 11 years by $2,675,010. This results in an
economic gain of $2,415,613.
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JUNE 30, 2022
General and Special Obligations

General and Special obligations primarily consist of obligations related to general obligation bonds as of
June 30, 2022. The following table outlines the debt outstanding at June 30, 2022:
Date of Interest Payment Original Outstanding at

Issue Issue Rates Dates Maturity Issue June 30, 2021
2010A/QSCB1 May 25, 2010 .75%-5.20% May/Nov 2027 $ 18,235,000 $ 5,375,000

2010D/QSCB1 September 8, 2010 1.00%-5.00% Mar/Sept 2028 42,625,000 42,620,000
2013B1 April 25, 2013 2.90%-5.00% Nov/May 2033 55,140,000 4,000,000
2014 2 May 21,2014 5.00% Nov/May 2023 10,950,000 2,080,000
2015A (Refunding)3 March 10, 2015 2.00% - 5.00% Feb/Aug 2023 60,010,000 22,510,000
2016 ACQ4 July 26, 2016 1.12% Dec 2022 2,100,000 317,000
2017B (Refunding)3 November 30, 2017 2.00% - 5.00% Mar/Sept 2031 40,880,000 36,510,000
2019 5 September 26,2019 2.00% - 5.00% Mar/Sept 2039 85,000,000 84,700,000
2020 (Refunding) 3 May 1, 2020 5.00% Mar/Sept 2028 49,235,000 26,915,000
2020 SOB 6 June 9, 2020 2.00% - 5.00% Dec/Mar 2035 18,390,000 17,425,000
2020A 5 October 14, 2020 1.75%-5.00% Mar/Sept 2039 149,995,000 147,945,000
2021A 5 October 27, 2021 1.78% Mar/Sept 2039 74,995,000 74,495,000
2022A (Refunding)3 March 9, 2022 1.72% Nov/May 2033 42,180,000 41,501,000
$ 649,735,000 $ 506,393,000
General obligations at June 30, 2022 consist of primarily general obligation bonds payable, issued under
the approved 2008 referendum, the 2018 referendum and several obligations issued under the legal 8%
debt limit for technology equipment and recurring facility capital needs. Of these, the Series 2010A and
2010D were issued as Taxable Qualified School Construction Bonds under the provisions of the State of
South Carolina Federal Education Tax-Credit Bond Implementation Act of 2009. A refundable tax credit
must be applied for each time an interest payment is due for these bonds. These issues provided federal
subsidy for future interest payments due each year for the life of the bonds; however, following federal
sequestration the District projects a 7-9% reduction to the subsidy for future years.
The remaining outstanding debt issued (2014) was issued under the legal 8% debt limit for technology
equipment and facilities recurring capital needs.
1 Issues relate to the November 2008 bond referendum of $306 million. The referendum and the related issues funded construction
of four new elementary schools, a new middle school, a new high school, as well as renovations to existing facilities.
2 Annual issues relate to recurring technology equipment needs and recurring facility capital needs. These issues are allowed under
the State of SC constitution, allowing school districts to issue up to 8% of the assessed value in General Obligation Bonds without
voter approval.
3 Issues relate to Refunded debt. The 2015A Refunding relates to a partial refunding of 2008A and 2009A original issues. The
2017B Refunding relates to a partial refunding of 2011B. The 2021 Refunding relates to defeasance of the 2009C, 2010C and 2010E
(QSCB) original issues. The 2022A Refunding relates to a partial refunding of 2013B original issues.
4 Issue relates to an equipment acquisition to purchase solar panels for the new R2i2 facility.
5 Issues relate to the November 2018 Bond Referendum approved for $468 million, which was approved for construction projects
throughout the District, significant safety and security upgrades to all District facilities, renovation and replacement of several existing
schools and new facility needs.
6 Issue relates to Special Obligation Bonds for equipment acquisition on energy saving performance contracts.
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JUNE 30, 2022
The annual requirements to amortize the General Obligation Bonds outstanding at June 30, 2022, including
interest payments of $124,709,762 are as follows:
Fiscal Year Ending June 30 Principal Interest Total
2023 $ 45,088,000 $ 19,862,169 $ 64,950,169
2024 31,738,000 16,474,148 48,212,148
2025 30,587,000 15,032,412 45,619,412
2026 29,133,000 13,644,333 42,777,333
2027 32,136,000 12,325,778 44,461,778
2028-2032 179,862,000 33,267,838 213,129,838
2033-2037 112,004,000 12,533,446 124,537,446
2038-2039 45,845,000 1,569,638 47,414,638
Total $ 506,393,000 $ 124,709,762 $ 631,102,762
The School District has satisfied all sinking fund requirements. There is an annual tax millage, currently
104.0 mills, to repay this General Obligation debt. Details on the Bonds Payable are presented as
schedules.
Compensated Absences
The School District estimates that the compensated absences amount to be considered as the current
portion due within one year to be $700,649 for the Governmental Funds.
Lease Liabilities
As stated in Note 5, Capital Assets, during the year ended June 30, 2022, the School District implemented
the guidance in GASBS No. 87, Leases for accounting and reporting leases that had previously been
reported as operating leases. As of June 30, 2022, the School District had lease agreements in place for
copiers/printers (see Note 5 for additional information). The minimum future lease obligation under these
lease agreements as of June 30, 2022 was $645,928. The School District has determined that the lease
liability is not material, and no such amount has been recognized on the Statement of Net Position as of
June 30, 2022.
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JUNE 30, 2022
9. EMPLOYEE RETIREMENT
The School District participates in the State of South Carolina’s retirement plans, which are administered
by the South Carolina Public Employee Benefit Authority (“PEBA”), which was created on July 1, 2012 and
administers and manages the various retirement systems and retirement programs of the State of South
Carolina. PEBA has an 11-member Board of Directors (“PEBA Board”), appointed by the Governor and
General Assembly leadership, which serves as custodian, co-trustee and co-fiduciary for the assets of the
retirement trust funds. By law, the State Fiscal Accountability Authority (“SFAA”), which consists of five
elected officials, also reviews certain PEBA Board decisions regarding the actuary of the systems.
For purposes of measuring the net pension liability, deferred outflows and inflows of resources related to
pensions, and pension expense, information about the fiduciary net position of the Systems and additions
to/deductions from the Systems fiduciary net position have been determined on the accrual basis of
accounting as they are reported by the Systems in accordance with generally accepted accounting
principles (GAAP). For this purpose, revenues are recognized when earned and expenses are recognized
when incurred. Benefit and refund expenses are recognized when due and payable in accordance with the
terms of the plan. Investments are reported at fair value.
The PEBA issues an Annual Comprehensive Financial Report (“ACFR”) containing financial statements
and required supplementary information for the Systems’ Pension Trust Funds. The CAFR is publicly
available through PEBA’s website at www.peba.sc.gov, or a copy may be obtained by submitting a request
to PEBA, 202 Arbor Lake Drive, Columbia, SC 29223. PEBA is considered a division of the primary
government of the State of South Carolina and therefore, retirement trust fund financial information
is also included in the annual comprehensive financial report of the state.
Plan Descriptions
The South Carolina Retirement System (“SCRS”), a cost–sharing multiple-employer defined benefit
pension plan, was established effective July 1, 1945, pursuant to the provisions of Section 9-1-20 of the
South Carolina Code of Laws for the purpose of providing retirement and other benefits for teachers and
employees of the state and its political subdivisions. SCRS covers employees of state agencies, public
school districts, higher education institutions, other participating local subdivisions of government and
individuals newly elected to the South Carolina General Assembly at or after the 2012 general election.
The State Optional Retirement Program (State ORP) is a defined contribution plan that is offered as an
alternative to SCRS to certain newly hired employees of state agencies, institutions of higher education,
public school districts and individuals first elected to the S.C. General Assembly at or after the general
election in November 2012. State ORP participants direct the investment of their funds into an account
administered by one of four third party service providers. PEBA assumes no liability for State ORP benefits.
Rather, the benefits are the liability of the four third party service providers. For this reason, State ORP
assets are not part of the retirement systems’ trust funds for financial statement purposes.
The South Carolina Police Officers Retirement System (“PORS”), a cost–sharing multiple-employer defined
benefit pension plan, was established effective July 1, 1962, pursuant to the provisions of Section 9-11-20
of the South Carolina Code of Laws for the purpose of providing retirement and other benefits for police
officers and firefighters. PORS also covers peace officers, coroners, probate judges, and magistrates.
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Plan Membership
Membership requirements are prescribed in Title 9 of the South Carolina Code of Laws. A brief summary
of the requirements under each system is presented below.
SCRS - Generally, all employees of covered employers are required to participate in and contribute
to the system as a condition of employment. This plan covers general employees and teachers and
individuals first elected to the South Carolina General Assembly beginning with the November 2012
general election. An employee member of the system with an effective date of membership prior to
July 1, 2012, is a Class Two member. An employee member of the system with an effective date
of membership on or after July 1, 2012 is a Class Three member.
State ORP - As an alternative to membership in the SCRS, newly hired state, public school, and
higher education employees and individuals first elected to the S.C. General Assembly beginning
with the November 2012 general election have the option to participate in the State ORP, which is
a defined contribution plan. Contributions to the State ORP are at the same rates as the SCRS. A
direct remittance is required from the employer to the member’s account with the ORP service
provider for the employee contribution and a portion of the employer contribution (5 percent). A
direct remittance is also required to the SCRS for the remaining portion of the employer contribution
and an incidental death benefit contribution, if applicable, which is retained by the SCRS.
PORS - To be eligible for PORS membership, an employee must be required by the terms of his
employment, by election or appointment, to preserve public order, protect life and property, and
detect crimes in the state; to prevent and control property destruction by fire; be a coroner in a full-
time permanent position; or be a peace officer employed by the Department of Corrections, the
Department of Juvenile Justice, or the Department of Mental Health. Probate judges and coroners
may elect membership in PORS. Magistrates are required to participate in PORS for service as a
magistrate. PORS members, other than magistrates and probate judges, must also earn at least
$2,000 per year and devote at least 1,600 hours per year to this work, unless exempted by statute.
An employee member of the system with an effective date of membership prior to July 1, 2012, is
a Class Two member. An employee member of the system with an effective date of membership
on or after July 1, 2012, is a Class Three member.
Plan Benefits
Benefit terms are prescribed in Title 9 of the South Carolina Code of Laws. PEBA does not have the
authority to establish or amend benefit terms without a legislative change in the code of laws. Key elements
of the benefit calculation include the benefit multiplier, years of service, and average final
compensation/current annual salary. A brief summary of benefit terms for each system is presented below.
SCRS - A Class Two member who has separated from service with at least five or more years of earned
service is eligible for a monthly pension at age 65 or with 28 years credited service regardless of age.
A member may elect early retirement with reduced pension benefits payable at age 55 with 25 years of
service credit. A Class Three member who has separated from service with at least eight or more years
of earned service is eligible for a monthly pension upon satisfying the Rule of 90 requirement that the
total of the member’s age and the member’s creditable service equals at least 90 years. Both Class Two
and Class Three members are eligible to receive a reduced deferred annuity at age 60 if they satisfy the
five- or eight-year earned service requirement, respectively. An incidental death benefit is also available
to beneficiaries of active and retired members of employers who participate in the death benefit program.
The annual retirement allowance of eligible retirees or their surviving annuitants is increased by the
lesser of one percent or five hundred dollars every July 1. Only those annuitants in receipt of a benefit
on July 1 of the preceding year are eligible to receive the increase. Members who retire under the early
retirement provisions at age 55 with 25 years of service are not eligible for the benefit adjustment until
the second July 1 after reaching age 60 or the second July 1 after the date they would have had 28
years of service credit had they not retired.
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PORS - A Class Two member who has separated from service with at least five or more years of earned
service is eligible for a monthly pension at age 55 or with 25 years of service regardless of age. A Class
Three member who has separated from service with at least eight or more years of earned service is
eligible for a monthly pension at age 55 or with 27 years of service regardless of age. Both Class Two
and Class Three members are eligible to receive a deferred annuity at age 55 with five or eight years of
earned service, respectively. An incidental death benefit is also available to beneficiaries of active and
retired members of employers who participate in the death benefit program. Accidental death benefits
are also provided upon the death of an active member working for a covered employer whose death
was a natural and proximate result of an injury incurred while in the performance of duty.
The retirement allowance of eligible retirees or their surviving annuitants is increased by the lesser of
one percent or five hundred dollars every July 1. Only those annuitants in receipt of a benefit on July 1
of the preceding year are eligible to receive the increase.
Plan Contributions
Actuarial valuations are performed annually by an external consulting actuary to ensure applicable
contribution rates satisfy the funding parameters specified in Title 9 of the South Carolina Code of Laws.
Under these provisions, SCRS and PORS contribution requirements must be sufficient to maintain an
amortization period for the financing of the unfunded actuarial accrued liability (UAAL) over a period that
does not exceed the number of years scheduled in state statute. Legislation in 2017 increased, but also
established a ceiling for SCRS and PORS employee contribution rates. Effective July 1, 2017, employee
rates were increased to a capped rate of 9.00 percent for SCRS and 9.75 percent for PORS. The legislation
also increased employer contribution rates beginning July 1, 2017 for both SCRS and PORS by two
percentage points and further scheduled employer contribution rates to increase by a minimum of one
percentage point each year in accordance with state statute. However, the General Assembly postponed
the one percent increase in the SCRS and PORS employer contribution rates that was scheduled to go into
effect beginning July 1, 2020. If the scheduled contributions are not sufficient to meet the funding periods
set in state statute, the board shall increase the employer contribution rates as necessary to meet the
funding periods set for the applicable year. The maximum funding period of SCRS and PORS is scheduled
to be reduced over a ten-year schedule from 30 years beginning fiscal year 2018 to 20 years by fiscal year
2028.
Additionally, the Board is prohibited from decreasing the SCRS and PORS contribution rates until the
funded ratio is at least 85 percent. If the most recent annual actuarial valuation of the Systems for funding
purposes shows a ratio of the actuarial value of system assets to the actuarial accrued liability of the system
(the funded ratio) that is equal to or greater than 85 percent, then the board, effective on the following
July 1, may decrease the then current contribution rates upon making a finding that the decrease will not
result in a funded ratio of less than 85 percent.
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If contribution rates are decreased pursuant to this provision, and the most recent annual actuarial valuation
of the system shows a funded ratio of less than 85 percent, then effective on the following July 1, and
annually thereafter as necessary, the board shall increase the then current contribution rates until a
subsequent annual actuarial valuation of the system shows a funded ratio that is equal to or greater than
85 percent.
As noted earlier, both employees and the District are required to contribute to the Plans at rates established
and as amended by the PEBA. The District’s contributions are actuarially determined but are
communicated to and paid by the District as a percentage of the employees’ annual eligible compensation.
Required employer and employee contribution rates for the past three years are as follows:
SCRS and State ORP Rates PORS Rates

2020 2021 2022 2020 2021 2022
Employer Contribution Rate:^
Retirement* 15.41% 15.41% 16.41% 17.84% 17.84% 18.84%
Incidental Death Benefit 0.15% 0.15% 0.15% 0.20% 0.20% 0.20%
Accidental Death Contributions 0.00% 0.00% 0.00% 0.20% 0.20% 0.20%
15.56% 15.56% 16.56% 18.24% 18.24% 19.24%
Employee Contribution Rate 9.00% 9.00% 9.00% 9.75% 9.75% 9.75%
^ Calculated on earnable compensation as defined in Title 9 of the South Carolina Code of Laws.
* Of the rate for the State ORP Plan, 5% of earnable compensation must be remitted by the employer directly to the ORP
vendor to be allocated to the member's account with the remainder of the employer contribution remitted to the SCRS.
The required contributions and percentages of amounts contributed by the District to the Plans for the past
five years were as follows:
Year Ended SCRS Contributions State ORP Contributions PORS Contributions

June 30, Required % Contributed Required % Contributed Required % Contributed
2022 $ 28,086,156 100% $ 3,287,069 100% $ 100,599 100%
2021 24,835,219 100% 2,987,406 100% 75,100 100%
2020 24,764,149 100% 2,986,519 100% 88,701 100%
2019 22,439,956 100% 2,625,975 100% 84,273 100%
2018 $ 21,202,441 100% $ 2,281,965 100% $ 88,736 100%
Eligible payrolls of the District covered under the Plans for the past five years were as follows:
Year
Ended State ORP PORS
June 30, SCRS Payroll Payroll Payroll Total Payroll
2022 $ 169,602,389 $ 28,434,850 $ 528,358 $ 198,565,597
2021 159,609,379 28,289,828 416,296 188,315,503
2020 159,152,632 28,281,434 491,691 188,404,350
2019 154,101,103 27,450,469 494,559 182,474,709
2018 $ 156,344,741 $ 26,637,893 $ 553,219 $ 183,535,853
Actuarial Assumptions and Methods
Actuarial valuations of the plan involve estimates of the reported amounts and assumptions about the
probability of occurrence of events far into the future. Examples include assumptions about future
employment, mortality, and future salary increases.
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Amounts determined regarding the net pension liability are subject to continual revision as actual results
are compared with past expectations and new estimates are made about the future. South Carolina state
statute requires that an actuarial experience study be completed at least once in each five-year period. An
experience report on the Systems was most recently issued for the period ending June 30, 2019.
The June 30, 2021, total pension liability, net pension liability, and sensitivity information were determined
by the consulting actuary, Gabriel Roeder Smith & Company (“GRS”) and are based on an actuarial
valuation performed as of July 1, 2020. The total pension liability was rolled-forward from the valuation date
to the plans’ fiscal year ended June 30, 2021, using generally accepted actuarial principles. In FY 2021,
the Board adopted updated demographic assumptions. Also, the General Assembly permitted the
investment return assumption at July 1, 2021 to decrease from 7.25% to 7.00%, as provided by Section 9-
16-335 in the South Carolina State Code.
The following table provides a summary of the actuarial assumptions and methods to calculate the total
pension liability as of June 30, 2021.
SCRS PORS
Actuarial assumptions:
Actuarial cost method Entry age normal Entry age normal
Investment rate of return 7% 7%
Projected salary increases 3.0%-11.0% (varies by service) 3.5%-10.5% (varies by service)
Includes inflation at 2.25% 2.25%
Benefit adjustments lesser of 1% or $500 lesser of 1% or $500
The post-retiree mortality assumption is dependent upon the member’s job category and gender. The base
mortality assumptions, the 2020 Public Retirees of South Carolina Mortality table (2020 PRSC), was
developed using the System’s mortality experience. These base rates are adjusted for future improvement
in mortality using published 80% of Scale UMP projected from the year 2020.
Assumptions used in the determination of the June 30, 2021 total pension liability are as follows:
Former Job Class Males Females

2020 PRSC Males multiplied by 2020 PRSC Females multiplied
Educators
95% by 94%
General Employees and Members of 2020 PRSC Males multiplied by 2020 PRSC Females multiplied
the General Assembly 97% by 107%
2020 PRSC Males multiplied by 2020 PRSC Females multiplied
Public Safety and Firefighters
127% by 107%
Long-term Expected Rate of Return
The long-term expected rate of return on pension plan investments is based upon 20-year capital market
assumptions. The long-term expected rates of return represent assumptions developed using an
arithmetical building block approach primarily based on consensus expectations and market-based inputs.
Expected returns are net of investment fees.
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The expected returns, along with the expected inflation rate, form the basis for the revised target asset
allocation adopted at the beginning of the 2021 fiscal year. The long-term expected rate of return is
produced by weighting the expected future real rates of return by the target allocation percentage and
adding expected inflation and is summarized in the following table. For actuarial purposes, the 7 percent
assumed annual investment rate of return used in the calculation of the total pension liability includes a
4.75 percent real rate of return and a 2.25 percent inflation component.
Long Term
Expected Expected
Policy Target Arithmetic Real Portfolio Real
Allocation/Exposure Rate of Return Rate of Return
Public 46.0% 6.87% 3.16%
Bonds 26.0% 0.27% 0.07%
Private Equity 9.0% 9.68% 0.87%
Private Debt 7.0% 5.47% 0.39%
Real Assets 12.0%
Real Estate 9.0% 6.01% 0.54%
Infrastructure 3.0% 5.08% 0.15%
Total Expected Real Return 100.0% 5.18%
Inflation for Actuarial Purposes 2.25%
7.43%
Pension Liabilities, Pension Expense, and Deferred Outflows/Inflows of Resources Related to

Pensions
The net pension liability is calculated separately for each system and represents that particular system’s
total pension liability determined in accordance with GASB No. 67 less that System’s fiduciary net position.
NPL totals, as of June 30, 2021, for SCRS and PORS are presented in the following table:
Plan Fiduciary
Net Position as a
Employer’s Net Percentage of the
Total Pension Plan Fiduciary Pension Liability Total Pension
System Liability Net Position (Asset) Liability
SCRS $ 55,131,579,363 $ 33,490,305,970 $ 21,641,273,393 60.7%
PORS $ 8,684,586,488 $ 6,111,672,064 $ 2,572,914,424 70.4%
The total pension liability is calculated by the System’s actuary, and each plan’s fiduciary net position is
reported in the System’s financial statements. The net pension liability is disclosed in accordance with the
requirements of GASB Statement 67 in the System’s notes to the financial statements and required
supplementary information. Liability calculations performed by the Systems’ actuary for the purpose of
satisfying the requirements of GASB Nos. 67 and 68 are not applicable for other purposes, such as
determining the Plans’ funding requirements.
At June 30, 2022, the School District reported liabilities of $342,476,936 and $719,818 for its proportionate
share of the SCRS and PORS net pension liability, respectively. The School District’s total net pension
liability at June 30, 2022 was $343,196,754. The net pension liability was measured as of June 30, 2021,
and the total pension liability used to calculate the net pension liability was determined by an actuarial
valuation as of July 1, 2020 projected forward to June 30, 2021. The School District’s proportionate share
of the net pension liability was calculated on the basis of historical employer contributions to the pension
plan relative to historical contributions of all participating employers. As of the June 30, 2021 measurement
date, the School District’s proportionate share of the SCRS plan was 1.582518%, which was a decrease of
0.027794% from its proportion measured as of June 30, 2020.
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As of the June 30, 2021 measurement date, the School District’s proportionate share of the PORS plan
was 0.0279769%, which was a decrease of 0.0047771% from its proportion measured as of June 30, 2020.
For the year ended June 30, 2022, the School District recognized pension expense of $19,265,024 and
$7,647 for SCRS and PORS, respectively, for a total pension expense of $19,272,671. In prior years, the
School District has used General Fund resources to liquidate pension liabilities.
Deferred Outflows of Resources and Deferred Inflows of Resources related to Pensions
At June 30, 2022, the School District reported deferred outflows of resources and deferred inflows of
resources related to pensions from the following sources:
Deferred Outflows Deferred Inflows

Description of Resources of Resources
South Carolina Retirement System
Contributions subsequent to the measurement date $ 31,373,224 $ -
Changes in assumptions 18,746,063 -
Differences between expected and actual 5,833,699 462,219
experience
Net difference between projected and actual - 49,749,288
earnings on pension plan investments
Deferred amounts from changes in proportionate 40,085 9,381,085
share
Total SCRS $ 55,993,071 $ 59,592,592
Police Officers Retirement System

Contributions subsequent to the measurement date $ 100,600 $ -
Changes in assumptions 51,341 -
Differences between expected and actual 24,488 2,242

experience
Net difference between projected and actual
earnings on pension plan investments - 161,380
Deferred amounts from changes in proportionate - 169,200
share
Total PORS $ 176,429 $ 332,822
Total SCRS and PORS $ 56,169,500 $ 59,925,414
The $31,373,224 and $100,600 reported as deferred outflows of resources related to the District’s
contributions subsequent to the measurement date to the SCRS and PORS, respectively, will be recognized
as a reduction of the net pension liability in the year ending June 30, 2023.
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Other amounts reported as deferred outflows of resources and deferred inflows of resources related to
pensions will be recognized in pension expense as follows for the SCRS and PORS plans, respectively.
Year Ended
June 30, SCRS PORS Total
2022 $ (6,706,661) $ (87,063) $ (6,793,724)
2023 (3,816,704) (59,100) (3,875,804)
2024 (5,833,840) (49,402) (5,883,242)
2025 (18,615,540) (61,428) (18,676,968)
2026 - - -
Thereafter - - -
Total $ (34,972,745) $ (256,993) $ (35,229,738)
Discount Rate
The discount rate used to measure the total pension liability was 7.00 percent. The projection of cash flows
used to determine the discount rate assumed that contributions from participating employers in SCRS and
PORS will be made based on the actuarially determined rates based on provisions in the South Carolina
Code of Laws. Based on those assumptions, each System’s fiduciary net position was projected to be
available to make all projected future benefit payments of current plan members. Therefore, the long-term
expected rate of return on pension plan investments was applied to all periods of projected benefit
payments to determine the total pension liability.
The following table presents the School District’s proportionate share of the net pension liability calculated
using the discount rate of 7.00 percent, as well as what the School District’s proportionate share of the net
pension liability would be if it were calculated using a discount rate that is 1 percentage point lower (6.00
percent) or 1 percentage point higher (8.00 percent) than the current rate:
Sensitivity of the Net Pension Liability to Changes in the Discount Rate
System 1.00% Decrease Current Discount Rate 1.00% Increase

(6.00%) (7.00%) (8.00%)
SCRS $ 448,602,146 $ 342,476,936 $ 254,264,936
PORS $ 1,044,364 $ 719,818 $ 453,965
Pension Plan Fiduciary Net Position
Detailed information regarding the fiduciary net position of the plans administered by PEBA is available in
the separately issued ACFR containing financial statements and required supplementary information for
SCRS. The ACFR of the Pension Trust Funds is publicly available on PEBA’s Retirement Benefits’ website
at www.peba.sc.gov, or a copy may be obtained by submitting a request to PEBA, 202 Arbor Lake Drive,
Columbia, SC, 29223.
10. OTHER POSTEMPLOYMENT BENEFITS
As previously discussed, PEBA is a state agency responsible for the administration and management of
the State of South Carolina’s employee insurance programs, other post-employment benefit trusts and
retirement systems and is part of the State of South Carolina primary government.
By law, the State Fiscal Accountability Authority (“SFAA”), which consists of five elected officials, also
reviews certain PEBA Board decisions in administering the State Health Plan and OPEB.
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PEBA – Insurance Benefits issues audited financial statements and required supplementary information for
the other post‐employment benefits trusts (“OPEB Trusts”). This information is publicly available through
PEBA’s website at www.peba.sc.gov or a copy may be obtained by submitting a request to PEBA –
Insurance Benefits, 202 Arbor Lake Drive, Columbia, SC 29223. PEBA is considered a division of the
primary government of the state of South Carolina, and therefore, OPEB Trusts’ financial information is
also included in the annual comprehensive financial report of the State.
Plan Descriptions
The Other Post-Employment Benefits Trust Funds (OPEB Trusts), collectively refers to the South Carolina
Retiree Health Insurance Trust Fund (SCRHITF) and the South Carolina Long-Term Disability Insurance
Trust Fund (SCLTDITF), were established by the State of South Carolina as Act 195, which became
effective in May 2008. The SCRHITF was created to fund and account for the employer costs of the State’s
retiree health and dental plans. The SCLTDITF was created to fund and account for the employer costs of
the State’s Basic Long-Term Disability Income Benefit Plan.
In accordance with Act 195, the OPEB Trusts are administered by the PEBA, Insurance Benefits and the
State Treasurer is the custodian of the funds held in trust. The Board of Directors of PEBA has been
designated as the Trustee.
The OPEB Trusts are cost-sharing multiple-employer defined benefit OPEB plans. Article 5 of the State
Code of Laws defines the two plans and authorizes the Trustee to at any time adjust the plans, including
its benefits and contributions, as necessary to insure the fiscal stability of the plans. In accordance with the
South Carolina Code of Laws and the annual Appropriations Act, the State provides post-employment
health and dental and long-term disability benefits to retired State and school district employees and their
covered dependents.
Plan Benefits
The SCRHITF is a healthcare plan that covers retired employees of the State of South Carolina, including
all agencies, and public school districts. The SCRHITF provides health and dental insurance benefits to
eligible retirees. Generally, retirees are eligible for the health and dental benefits if they have established
at least ten years of retirement service credit. For new hires beginning employment May 2, 2008 and after,
retirees are eligible for benefits if they have established 25 years of service for 100% employer funding and
15-24 years of service for 50% employer funding.
The SCLTDITF is a long-term disability plan that covers employees of the State of South Carolina, including
all agencies and public school districts and all participating local governmental entities. The SCLTDITF
provides disability payments to eligible employees that have been approved for disability.
Plan Contributions and Funding Policies
Section 1-11-710 of the South Carolina Code of Laws of 1976, as amended, requires the postemployment
and long-term disability benefits to be funded through non-employer and employer contributions for active
employees and retirees to the PEBA – Insurance Benefits.
The SCRHITF is funded through participating employers that are mandated by State statute to contribute
at a rate assessed each year by the Department of Administration Executive Budget Office on active
employee covered payroll. The covered payroll surcharge for the years ended June 30, 2022, 2021 and
2020 were 6.25 percent, 6.25 percent and 6.25 percent, respectively. The South Carolina Retirement
System collects the monthly covered payroll surcharge for all participating employers and remits it directly
to the SCRHITF. Other sources of funding for the SCRHITF also include the implicit subsidy, or age-related
subsidy inherent in the healthcare premiums structure. The implicit subsidy represents a portion of the
health care expenditures paid on behalf of the employer’s active employees.
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For purposes of GASB Statement No. 75, this expenditure on behalf of the active employee is reclassified
as a retiree health care expenditure so that the employer’s contributions towards the plan reflect the
underlying age-adjusted, retiree benefit costs. Non-employer contributions consist of an annual
appropriation by the General Assembly and the statutorily required transfer from PEBA – Insurance
Reserves. However, due to the COVID-19 pandemic and the impact it has had on the PEBA Insurance
Benefits reserves, the General Assembly has indefinitely suspended the statutorily required transfer until
further notice. It is also funded through investment income.
The SCLTDITF is funded through employer contributions for active employees that elect health insurance
coverage. For this group of active employees, PEBA – Insurance Benefits bills and collects premiums
charged to State agencies, public school districts and other participating local governments. The monthly
premium per active employee was $3.22 for the fiscal year ended June 30, 2022. The SCLTDITF premium
is billed monthly by PEBA – Insurance Benefits and transferred monthly to the SCLTDITF. It is also funded
through investment income.
The allocation percentage of the OPEB amounts are calculated differently for each OPEB Trust. For the
SCRHITF, the allocation percentage is based on the covered payroll surcharge contribution for each
employer. Please note that actual covered payroll contributions received from SCRS for the fiscal year
2021 totaled $585,482,183. However, the covered payroll contributions total includes prior year covered
payroll contribution adjustments and true-ups that net to a total of $2,619,984.
In accordance with part (b) of paragraph 69 of GASB Statement No. 75, participating employers should
recognize revenue in an amount equal to the employer’s proportionate share of the change in the collective
net OPEB liability arising from contributions to the OPEB plan during the measurement period from non-
employer contributing entities for purposes other than the separate financing of specific liabilities to the
OPEB plan. Therefore, employers should classify this revenue in the same manner as it classifies grants
from other entities.
For purposes of measuring the net OPEB liability, deferred outflows and inflows of resources related to
OPEB, and OPEB expense, information about the fiduciary net position of the OPEB Trusts, and additions
to and deductions from the OPEB Trusts fiduciary net position have been determined on the same basis
as they were reported by the OPEB Trusts. For this purpose, revenues are recognized when earned and
expenses are recognized when incurred. Therefore, benefit and administrative expenses are recognized
when due and payable. Investments are reported at fair value.
Actuarial Assumptions and Methods
Actuarial valuations of an ongoing plan involve estimates of the value of reported amounts and assumptions
about the probability of occurrence of events far into the future. Examples include assumptions about future
employment, mortality, and the healthcare cost trend. Actuarially determined amounts are subject to
continual revision as actual results are compared with past expectations and new estimates are made about
the future.
Projections of benefits for financial reporting purposes are based on the substantive plans (as understood
by the employer and plan participants) and include the types of benefits provided at the time the valuation
and the historical pattern of sharing of benefit costs between the employer and plan members to that point.
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Additional information as of the latest actuarial valuation for SCRHITF:
Valuation Date: June 30, 2020
Actuarial Cost Method: Individual Entry - Age Normal
Inflation: 2.25%
Investment Rate of Return: 2.75%, net of OPEB Plan investment expense; including inflation
Single Discount Rate: 1.92% as of June 30, 2021
Demographic Assumptions: Based on the experience study performed for the South Carolina
Retirement Systems for the 5‐year period ending June 30, 2019
Mortality: For healthy retirees, the gender-distinct South Carolina Retirees 2020 Mortality Tables are
used with fully generational mortality projections based on a fully generational basis by the 80% of
Scale UMP to account for future mortality improvements and adjusted with multipliers based on plan
experience.
Health Care Trend Rate: Initial trend starting at 6.00% and gradually decreasing to an ultimate trend
rate of 4.00% over a period of 15 years
Retiree Participation: 79% for retirees who are eligible for funded premiums. 59% participation for
retirees who are eligible for Partial Funded Premiums. 20% participation for retirees who are eligible
for Non-Funded Premiums.
Notes: There were no benefit changes during the year. The discount rate changed from 2.45% as
of June 30, 2020 to 1.92% as of June 30, 2021; demographic and salary increases assumptions
were updated to reflect the 2020 SCRS experience study and the healthcare trend rates were reset
to better reflect the plan’s anticipated experience.
Additional information as of the latest actuarial valuation for SCLTDITF:
Valuation Date: June 30, 2020
Actuarial Cost Method: Entry Age Normal
Inflation: 2.25%
Investment Rate of Return: 3.00%, net of Plan investment expense; including inflation
Single Discount Rate: 2.48% as of June 30, 2021
Salary, Termination and Retirement Rates: Based on the experience study performed for the South
Carolina Retirement Systems for the 5‐year period ending June 30, 2019
Disability Incidence: The rates used in the valuation are 165% of the rates developed for the South
Carolina Retirement Systems pension plans
Disability Recovery: For participants in payment, 1987 CGDT Group Disability; for active employees,
60% were assumed to recover after the first year and 93% were assumed to recover after the first
two years
Offsets: 45% are assumed to be eligible for Social Security benefits; assumed percentage who will
be eligible for a pension plan offset varies based on employee group
Expenses: Third party administrative expenses were included in the benefit projections
62
JUNE 30, 2022
Notes: The discount rate changed from 2.83% as of June 30, 2020 to 2.48% as of June 30, 2021.
Additionally, the salary, termination, and retirement rates assumptions were updated to reflect the
2020 experience study for the South Carolina Retirement Systems’ pension valuations, and the
disability incidence, disability recovery, and administration fee and offset assumptions were
updated to better reflect the plan’s anticipated experience.
Long-term Expected Rate of Return
The long-term expected rate of return represents assumptions developed using an arithmetic building block
approach primarily based on consensus expectations and market based inputs. The expected returns,
along with the expected inflation rate, form the basis for the target asset allocation adopted at the beginning
of the 2018 fiscal year. The long-term expected rate of return is produced by weighting the expected future
real rates of return by the target allocation percentage and adding expected inflation. This information is
summarized in the following tables:
SOUTH CAROLINA RETIREE HEALTH INSURANCE TRUST FUND

Allocation-
Weighted Long-
Expected Term Expected
Target Asset Arithmetic Real Real Rate of
Asset Class Allocation Rate of Return Return
U.S. Domestic Fixed Income 80.00% 0.60% 0.48%

Cash equivalents 20.00% 0.35% 0.07%
Total 100.00% 0.55%
Expected Inflation 2.25%
Total Return 2.80%
Investment Return Assumption 2.75%
SOUTH CAROLINA LONG-TERM DISABILITY INSURANCE TRUST FUND

Allocation-
Weighted Long-
Expected Term Expected
Target Asset Arithmetic Real Real Rate of
Asset Class Allocation Rate of Return Return
U.S. Domestic Fixed Income 80.00% 0.95% 0.76%

Cash equivalents 20.00% 0.35% 0.07%
Total 100.00% 0.83%
Expected Inflation 2.25%
Total Return 3.08%
Investment Return Assumption 3.00%
Discount Rate
The Single Discount Rate of 1.92% was used to measure the total OPEB liability for the SCRHITF. The
accounting policy for this plan is to set the Single Discount Rate equal to the prevailing municipal bond rate.
Due to the plan’s investment and funding policies, the difference between a blended discount rate and the
municipal bond rate would be less than several basis points (several hundredths of one percent).
63
JUNE 30, 2022
A Single Discount Rate of 2.48% was used to measure the total OPEB liability for the SCLTDITF. This
Single Discount Rate was based on an expected rate of return on plan investments of 3.00% and a
municipal bond rate of 1.92%. The projection of cash flows to determine this Single Discount Rate assumed
that employer contributions will remain $38.64 per year for each covered active employee. Based on these
assumptions, the plan’s Fiduciary Net Position and future contributions were sufficient to finance the benefit
payments through the year 2037. As a result, the long-term expected rate of return on plan investments
was applied to project benefit payments through the year 2037, and the municipal bond rate was applied
to all benefit payments after that date.
The following table presents the School District’s proportionate share of the net OPEB liability of the
SCRHITF calculated using a Single Discount Rate of 1.92 percent, as well as what the School District’s
proportionate share of the net OPEB liability of the SCRHITF would be if it were calculated using a Single
Discount Rate that is one percent lower or one percent higher:
Sensitivity of the SCRHITF Net OPEB Liability to Changes

in the Discount Rate
1.00% Decrease Current Discount 1.00% Increase

(0.92%) Rate (1.92%) (2.92%)
$ 506,784,653 $ 420,481,869 $ 352,442,752
Regarding the sensitivity of the District’s proportionate share of the net OPEB liability of the SCRHITF to
changes in the healthcare cost trend rates, the following table presents the District’s proportionate share of
the net OPEB liability of the SCRHITF, calculated using the assumed trend rates as well as what the
District’s proportionate share of the net OPEB liability of the SCRHITF would be using a trend rate that is
one percent lower or one percent higher:
Sensitivity of the SCRHITF Net OPEB Liability to Changes

in the Healthcare Cost Trend Rates
Current Healthcare
1.00% Decrease Cost Trend Rate 1.00% Increase
$ 337,339,627 $ 420,481,869 $ 531,266,147
The following table presents the District’s proportionate share of the net OPEB liability of the SCLTDITF
calculated using a Single Discount Rate of 2.83 percent, as well as what the District’s proportionate share
of the net OPEB liability of the SCLTDITF would be if it were calculated using a Single Discount Rate that
is one percent lower or one percent higher:
Sensitivity of the SCLTDITF Net OPEB Liability to Changes

in the Discount Rate
1.00% Decrease Current Discount 1.00% Increase

(1.48%) Rate (2.48%) (3.48%)
$ 72,012 $ 49,502 $ 26,813
Net OPEB Liability, OPEB Expense and Deferred Outflows/Inflows of Resources Related to OPEB
The Net OPEB Liability is calculated separately for each OPEB Trust Fund and represents that particular
Trust’s total OPEB liability determined in accordance with GASB No. 74 less that Trust’s fiduciary net
position.
64
JUNE 30, 2022
Net OPEB liability totals, as of June 30, 2021 measurement date, for the SCRHITF and SCLTDITF are
presented in the following table:
Plan Fiduciary Net

Employer's Net Position as a
Total OPEB Plan Fiduciary OPEB Liability Percentage of the
System Liability Net Position (Asset) Total OPEB Liability
SCRHITF $ 22,506,597,989 $ 1,683,416,992 $ 20,823,180,997 7.48%
SCLTDITF $ 44,378,931 $ 41,201,247 $ 3,177,684 92.84%
The total OPEB liability is calculated by the Trusts’ actuary, and each Trust’s fiduciary net position is
reported in the Trust’s financial statements. The net OPEB liability is disclosed in accordance with the
requirements of GASB No. 74 in the Trusts’ notes to the financial statements and required supplementary
information. Liability calculations performed by the Trusts’ actuary for the purpose of satisfying the
requirements of GASB Nos. 74 and 75 and are not applicable for other purposes, such as determining the
Trusts’ funding requirements.
At June 30, 2022, the District reported liabilities of $420,481,869 and $49,502 for its proportionate share of
the net OPEB liabilities for the SCRHITF and SCLTDITF, respectively. The School District’s total net OPEB
liability at June 30, 2022 was $420,531,371. The net OPEB liabilities were measured as of June 30, 2021,
and the total OPEB liabilities for the OPEB Trusts used to calculate the net OPEB liabilities were determined
based on the most recent actuarial valuation report as of July 1, 2020 that was projected forward to the
measurement date. The District’s proportion of the net OPEB liabilities were based on an allocation of the
District’s share of payroll-related contributions to the OPEB Trusts relative to the projected contributions of
all participating South Carolina state and local governmental employers, actuarially determined. At the
June 30, 2021 measurement date, the District’s SCRHITF proportion was 2.019297 percent, which was
.024614 percent less than its proportion measured as of June 30, 2020. At the June 30, 2021 measurement
date, the District’s SCLTDITF proportion was 1.557811 percent, which was .009498 percent more than its
proportion measured as of June 30, 2020.
In accordance with part (b) of paragraph 69 of GASB Statement No. 75, participating employers should
recognize revenue in an amount equal to the employer’s proportionate share of the change in the collective
net OPEB liability arising from contributions to the OPEB plan during the measurement period from non-
employer contributing entities for purposes other than the separate financing of specific liabilities to the
OPEB plan. For the year ended June 30, 2022, the District recognized $47,852 and $0 for the SCRHITF
and SCLTDITF, respectively, for a total of $47,852 of revenues from state sources and intergovernmental
expenditures in the District’s special revenue funds. In prior years, the School District has used General
Fund resources to liquidate OPEB liabilities.
65
JUNE 30, 2022
For the year ended June 30, 2022, the District recognized OPEB expense of $32,888,136 and $133,308
for the SCRHITF and SCLTDITF, respectively, for a total OPEB expense of $33,021,444. At June 30, 2021,
the District reported deferred outflows of resources (deferred OPEB charges) and deferred inflows of
resources (deferred OPEB credits) related to OPEB from the following sources:
Deferred Deferred
Outflows of Inflows of
Description Resources Resources
SCRHITF
Differences Between Expected and Actual Experience $ 8,509,233 $10,777,613
Changes in Assumptions 85,485,962 10,124,649
Net Difference Between Projected and Actual Earnings on
Pension Plan Investments - 113,700
Changes in Proportionate Share and Differences Between
Employer Contributions and Proportionate Share of Total
Plan Employer Contributions 91,105 13,732,096
The School District's Contributions Subsequent to the
Measurement Date 12,410,350 -
Total SCRHITF 106,496,650 34,748,058
SCLTDITF
Differences Between Expected and Actual Experience - 36,506
Changes in Assumptions 40,872 1,984
Net Difference Between Projected and Actual Earnings on
Pension Plan Investments - 15,180
Changes in Proportionate Share and Differences Between
Employer Contributions and Proportionate Share of Total
Plan Employer Contributions 254 5,267
The School District's Contributions Subsequent to the
Measurement Date 116,483 -
Total SCLTDITF 157,609 58,937
Total SCRHITF and SCLTDITF $106,654,259 $ 34,806,995
$12,410,350 and $116,483 that were reported as deferred outflows of resources related to the District’s
contributions subsequent to the measurement date to the SCRHITF and SCLTDITF, respectively, will be
recognized as a reduction of the net OPEB liabilities in the year ended June 30, 2023.
Other amounts reported as deferred outflows of resources and deferred inflows of resources related to the
SCRHITF and SCLTDITF will increase (decrease) OPEB expense as follows:
Year Ended
June 30, SCRHITF SC LTDITF: Total
2022 $ 8,502,160 $ (5,970) $ 8,496,190
2023 8,315,980 (10,344) 8,305,636
2024 11,546,692 (5,568) 11,541,124
2025 12,839,014 3,730 12,842,744
2026 12,060,961 (730) 12,060,231
Thereafter 6,073,435 1,071 6,074,506
$ 59,338,242 $ (17,811) $ 59,320,431
66
JUNE 30, 2022
11. RISK MANAGEMENT
The School District is exposed to various risks of loss related to torts; theft of, damage to, and destruction
of assets; errors and omissions; injuries to employees; and natural disasters. During the 2021-2022 fiscal
year, the School District obtained its general liability and property insurance through Surry of NC.
The School District has operated a self-insured Workers Compensation program since July 1, 2008. Activity
related to the Workers Compensation program is reported in an Internal Service Fund. The School District
has also hired a third party administrator to handle claim processing related to the program. The School
District has purchased excess workers compensation insurance that covers losses exceeding $600k per
occurrence, with no aggregate requirement. At June 30, 2022, the School District has recognized a liability
for claims payable in the Internal Service fund for $1,980,534 related to estimated future claim payments.
Unpaid Claims – Beginning of Year $ 1,664,728

Current Year Claims and Changes in Estimates 2,091,504
Claim Payments (1,775,698)
Unpaid Claims – End of Year $ 1,980,534
The School District continues to carry commercial insurance for all other risks of loss. Settled claims
resulting from these risks have not exceeded commercial insurance coverage in any of the past three fiscal
years. There were no significant reductions in coverage during the year ended June 30, 2022.
12. FUND BALANCE CLASSIFICATIONS

The following table summarizes the amounts classified for specific fund balance classifications other than
unassigned fund balance, which is only reportable in the General Fund:
Nonspendable:
Prepaid Items –Special Projects $ 48,167
Restricted Fund Balance:
Restricted for Special Projects 5,271,700
Restricted for Food Service 9,562,955
Restricted for Debt Service 31,897,109
Restricted for Capital Projects 102,767,156
Unassigned Fund Balance 94,631,244
Total Governmental Fund Balance $ 244,178,331
13. CONTINGENT LIABILITIES

Litigation
Various claims and lawsuits are pending against the School District. Although the outcomes of these
lawsuits are not presently determinable, it is the opinion of the School District’s counsel that resolution of
these matters will not have a material adverse effect on the financial condition of the School District.
Grants
The School District participates in a number of federally assisted grant programs. These programs are
subject to program compliance audits by the grantors or their representatives. The amount of program
expenditures which may be disallowed by the granting agencies cannot be determined at this time although
the School District expects such amounts, if any, to be immaterial.
67
JUNE 30, 2022
14. TAX ABATEMENTS

Richland County, South Carolina (“County”) has two tax abatement programs which abate Richland School
District Two’s (“School District”) property tax revenues from certain taxpayers. Those programs are the
“Fee-in-Lieu of Ad Valorem Property Tax” (“FILOT”) program and the “Special Source Revenue Credit”
(“SSRC”) Program. The purpose of the FILOT program is to reduce the disparately higher property tax rates
applied to manufacturing and certain commercial properties in South Carolina, which have previously
impeded new and expanding business from locating in South Carolina. The purpose of the SSRC program
is to enhance economic development by reducing property taxes for taxpayers that use the credit provided
under the SSRC program to pay the cost of designing, acquiring, constructing, improving, or expanding (a)
infrastructure serving the local government or the taxpayer’s property, or (b) improved or unimproved real
estate and personal property, including machinery and equipment used in the operation of a manufacturing
or commercial enterprise.
Additionally, the County uses multicounty industrial or business parks (“MCIP”) in connection with the FILOT
and SSRC programs which further abate the School District’s property tax revenues from certain taxpayers.
For tax year 2021, the gross dollar amount by which the School District’s property tax revenues were abated
pursuant to tax abatement agreements entered into by the County under each of the programs described
above is as follows:
FILOT Program: $11,879,894

SSRC Program: $294,9171
MCIP: $718,539
For tax year 2021, the gross dollar amount of property tax revenues the School District received pursuant
to the tax abatement agreements entered into by the County under each of the programs described above
is as follows:
FILOT Program: $5,044,017

SSRC Program: $307,0201
MCIP: $4,078,289
1
The County may combine the FILOT and the SSRC program into one tax abatement agreement. The property tax revenues abated or received
under the SSRC program are revenues that are abated or received by the School District through tax abatement agreements utilizing only the SSRC
program. Abatements incurred or revenues received by the School District through tax abatement programs utilizing a combination of the FILOT
and the SSRC programs are noted in the FILOT program abatements and revenues.
15. COMMITMENTS
The School District had capital projects still in process as of June 30, 2022, primarily related to safety and
security projects approved in the 2018 Bond Referendum. The School District has entered into contracts
for these projects totaling nearly $201.9 million, of which approximately $90.4 million had not been
expended as of June 30, 2022.
16. SUBSEQUENT EVENTS

The School District has considered subsequent events through the date of the auditor’s report, in preparing
the financial statements and notes hereto.
68
REQUIRED SUPPLEMENTARY INFORMATION
69
RICHLAND COUNTY SCHOOL DISTRICT TWO
BUDGETARY COMPARISON SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE
BUDGET TO ACTUAL
GENERAL FUND
Original Final Variance to

Budget Budget Actual Final Budget
REVENUES:
Local Property Tax $ 115,269,499 $ 115,269,499 $ 114,607,144 $ (662,355)
Other Local Revenue 1,250,000 1,250,000 1,768,700 518,700
Total Revenue from Local Sources 116,519,499 116,519,499 116,375,844 (143,655)
State Sources 189,327,793 189,327,793 191,172,560 1,844,767

Federal Sources 200,000 200,000 126,457 (73,543)
Total Revenues - All Sources 306,047,292 306,047,292 307,674,861 1,627,569
EXPENDITURES:
Current:
Instruction 173,541,711 186,446,071 175,670,499 10,775,572
Support Services 137,054,954 129,538,764 127,148,736 2,390,028
Community Services 391,524 1,638,353 1,521,032 117,321
Other Charges 505,794 311,963 238,445 73,518
Total Expenditures 311,493,983 317,935,151 304,578,712 13,356,439
Excess Revenues Over (Under) Expenditures (5,446,691) (11,887,859) 3,096,149 14,984,008
OTHER FINANCING SOURCES (USES):

Transfers In 9,865,691 9,865,691 11,594,473 1,728,782
Transfers Out (4,419,000) (14,427,832) (14,419,043) 8,789
Total Other Financing Sources (Uses) 5,446,691 (4,562,141) (2,823,864) 1,738,277
Excess / (Deficiency) of Revenues and Other Financing

Sources Over Expenditures and Other Financing (Uses) $ - $ (16,450,000) 272,285 $ 16,722,285
FUND BALANCES, Beginning of Year, as Previously Stated 94,606,189
Prior Period Adjustment (247,230)
Fund Balance, End of Year $ 94,631,244
Note: The budgets are presented on the modified accrual basis of accounting, which is consistent with accounting principles
generally accepted in the United States of America.
70
SCHEDULE OF PROPORTIONATE SHARE OF THE NET PENSION LIABILITY
2022 2021 2020 2019 2018 2017 2016 2015 2014

South Carolina Retirement System (SCRS)
Proportionate Share of Net Liability as a Percentage 1.582518% 1.610312% 1.628133% 1.664207% 1.682357% 1.691729% 1.702456% 1.681826% 1.681826%
Proportionate Share of Net Liability as an Amount 342,476,936 411,463,295 371,770,218 372,895,862 378,725,617 361,350,817 322,878,988 289,562,351 289,562,351
Covered Payroll During the Measurement Period 187,899,207 187,434,066 181,551,571 182,982,634 180,793,991 150,233,153 146,596,583 140,953,599 140,953,599
Proportionate Share of the Net Liability as a Percentage of its 182.27% 219.52% 204.77% 203.79% 209.48% 240.53% 220.25% 205.43% 205.43%
Covered Payroll
System Plan Fiduciary Net Position as a Percentage of the Total 60.70% 50.70% 54.40% 54.11% 53.34% 52.91% 56.99% 59.92% 56.39%
System Pension Liability
2022 2021 2020 2019 2018 2017 2016 2015 2014

Police Officers Retirement System (PORS)
Proportionate Share of Net Liability as a Percentage 0.027977% 0.032754% 0.034431% 0.039786% 0.041180% 0.036550% 0.040650% 0.042410% 0.042410%
Proportionate Share of Net Liability as an Amount 719,818 1,086,190 986,769 1,127,346 1,128,261 927,208 886,031 812,351 812,351
Covered Payroll During the Measurement Period 416,296 491,691 494,559 553,219 554,188 506,235 510,602 477,238 477,238
Proportionate Share of the Net Liability as a Percentage of its 172.91% 220.91% 199.53% 203.78% 203.59% 183.16% 173.53% 170.22% 170.22%
Covered Payroll
System Plan Fiduciary Net Position as a Percentage of the Total 70.40% 58.80% 62.69% 61.73% 60.94% 60.44% 64.57% 67.55% 62.98%
System Pension Liability
Source: Information obtained from the South Carolina Public Employee Benefit Authority (PEBA) and the district's financial records.
Note: The amounts presented for each fiscal year were determined as of June 30th of the preceding year. As of June 30, 2022, only nine years of data were available. Additional years' information will be included as it becomes available.
71
SCHEDULE OF CONTRIBUTIONS TO SCRS AND PORS
SOUTH CAROLINA RETIREMENT SYSTEM (SCRS)
Statutorily Contributions Contribution Contributions as

Required Recognized by the Deficiency a % of Covered
Contributions Plan (Excess) Covered Payroll Payroll
2022 $ 31,373,224 $ 31,373,224 $ - $ 198,037,239 15.84%
2021 $ 27,822,625 $ 27,822,625 $ - $ 187,899,207 14.81%
2020 $ 27,750,669 $ 27,750,669 $ - $ 187,434,066 14.81%
2019 $ 25,065,931 $ 25,065,931 $ - $ 181,551,571 13.81%
2018 $ 23,484,406 $ 23,484,406 $ - $ 182,982,634 12.83%
2017 $ 19,631,538 $ 19,631,538 $ - $ 180,793,991 10.86%
2016 $ 18,113,331 $ 18,113,331 $ - $ 150,233,153 12.06%
2015 $ 17,378,471 $ 17,378,471 $ - $ 146,596,583 11.85%
2014 $ 16,173,481 $ 16,173,481 $ - $ 140,953,599 11.47%
POLICE OFFICER RETIREMENT SYSTEM (PORS)

Required Recognized by the Deficiency a % of Covered
Contributions Plan (Excess) Covered Payroll Payroll
2022 $ 100,599 $ 100,599 $ - $ 528,358 19.04%
2021 $ 75,100 $ 75,100 $ - $ 416,296 18.04%
2020 $ 88,701 $ 88,701 $ - $ 491,691 18.04%
2019 $ 84,273 $ 84,273 $ - $ 494,559 17.04%
2018 $ 88,736 $ 88,736 $ - $ 553,219 16.04%
2017 $ 77,814 $ 77,814 $ - $ 554,188 14.04%
2016 $ 68,544 $ 68,544 $ - $ 506,235 13.54%
2015 $ 67,450 $ 67,450 $ - $ 510,602 13.21%
2014 $ 60,322 $ 60,322 $ - $ 477,238 12.64%
Note: The amounts presented for each fiscal year were determined as of June 30th of the preceding year. As of June 30, 2022, only nine
years of data were available. Additional years' information will be included as it becomes available.
72
SCHEDULE OF PROPORTIONATE SHARE OF THE NET OPEB LIABILITY
2022 2021 2020 2019 2018 2017

South Carolina Retiree Health Insurance Trust Fund (SCRHITF)
Proportionate Share of Net Liability as a Percentage 2.019297% 2.043911% 2.081519% 2.128269% 2.150499% 2.150499%
Proportionate Share of Net Liability as an Amount 420,481,869 368,955,500 314,757,407 301,588,167 291,281,567 311,147,763
Covered Payroll During the Measurement Period 187,899,207 187,925,757 182,046,130 183,535,853 181,348,179 181,348,179
Proportionate Share of the Net Liability as a Percentage of its 223.78% 196.33% 172.90% 164.32% 160.62% 171.57%
Covered Payroll
System Plan Fiduciary Net Position as a Percentage of the Total 7.48% 8.39% 8.44% 7.91% 7.60% 7.60%
System OPEB Liability
2022 2021 2020 2019 2018 2017

South Carolina Long-Term Disability Insurance Trust Fund (SCLTDITF)
Proportionate Share of Net Liability as a Percentage 1.557811% 1.548313% 1.582827% 1.614178% 0.411800% 0.036550%
Proportionate Share of Net Liability as an Amount 49,502 4,695 31,154 49,414 1,128,261 927,208
Covered Payroll During the Measurement Period** N/A N/A N/A N/A N/A N/A
Proportionate Share of the Net Liability as a Percentage of its N/A N/A N/A N/A N/A N/A
Covered Payroll**
System Plan Fiduciary Net Position as a Percentage of the Total 92.84% 99.29% 95.17% 92.20% 95.29% 95.29%
System OPEB Liability
Note: The amounts presented for each fiscal year were determined as of June 30th of the preceding year. As of June 30, 2022, only six years of data were available. Additional years' information will be included as it becomes available.
** Because contributions for the plan are not based on a measure of pay, covered payroll for the measurement period is not presented.
73
SCHEDULE OF CONTRIBUTIONS TO SCRHITF AND SCLTDITF
SOUTH CAROLINA RETIREE HEALTH INSURANCE TRUST FUND (SCRHITF)

Required Recognized by Deficiency a % of Covered
Contributions the Plan (Excess) Covered Payroll Payroll
2022 $ 12,410,350 $ 12,410,350 $ - $ 198,565,597 6.25%
2021 $ 11,769,719 $ 11,769,719 $ - $ 188,315,503 6.25%
2020 $ 11,745,360 $ 11,745,360 $ - $ 187,925,757 6.25%
2019 $ 11,013,791 $ 11,013,791 $ - $ 182,046,130 6.05%
2018 $ 10,094,472 $ 10,094,472 $ - $ 183,535,853 5.50%
2017 $ 9,665,858 $ 9,665,858 $ - $ 181,348,179 5.33%
SOUTH CAROLINA LONG-TERM DISABILITY INSURANCE TRUST FUND (SCLTDITF)

Required Recognized by Deficiency a % of Covered
Contributions the Plan (Excess) Covered Payroll** Payroll**
2022 $ 116,483 $ 116,483 $ - N/A N/A
2021 $ 118,016 $ 118,016 $ - N/A N/A
2020 $ 117,021 $ 117,021 $ - N/A N/A
2019 $ 125,931 $ 125,931 $ - N/A N/A
2018 $ 126,955 $ 126,955 $ - N/A N/A
2017 $ 117,150 $ 117,150 $ - N/A N/A
Note: The amounts presented for each fiscal year were determined as of June 30th of the preceding year. As of June 30, 2022, only
six years of data were available. Additional years' information will be included as it becomes available.
** Because contributions for the plan are not based on a measure of pay, covered payroll for the measurement period is not presented.
74
OTHER SUPPLEMENTAL
INFORMATION
The following schedules are required by the South Carolina Department of

Education.
75
SCHEDULE A
GENERAL FUND
The general fund, also referred to as the "operating fund," is the basic
budgetary fund of the School District. It is used to record all operating
revenues and expenditures for the educational and support programs of
the School District and for limited capital outlays. The appropriations and
the anticipated revenue sources originate in the School District's operating
budget. Any unassigned fund balance may be appropriated to support
operating expenditures in subsequent years.
The following schedule has been prepared in the format mandated by the
South Carolina Department of Education. The account numbers shown
on the schedule are also mandated by the South Carolina Department of
Education.
76
SCHEDULE A-1
GENERAL FUND
SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCE -
REVISED BUDGET AND ACTUAL
REVISED
BUDGET ACTUAL VARIANCE
REVENUES
1000 Revenues from Local Sources
1200 Revenue from Local Governmental Units Other Than LEAs:
1210 Ad Valorem Taxes - Including Delinquents $ 112,856,839 $ 109,027,795 $ (3,829,044)
1240 Penalties and Interest on Taxes 1,395,439 973,882 (421,557)
1280 Revenue in Lieu of Taxes (Independent and Dependent) 1,017,221 4,605,467 3,588,246
1300 Tuition:
1310 Tuition from Patrons for Regular Day School 37,222 33,316 (3,906)
1350 Tuition from Patrons for Summer School - 46,619 46,619
1500 Earnings on Investments:
1510 Interest on Investments 500,000 367,763 (132,237)
1700 Pupil Activites:
1740 Student Fees 64,050 77,223 13,173
1900 Other Revenue from Local Sources:
1910 Rentals 320,371 409,574 89,203
1950 Refund of Prior Years Expenditures - 347,871 347,871
1990 Miscellaneous Local Revenue
1993 Receipt of Insurance Proceeds - 2,435 2,435
1999 Revenue from Other Local Sources 328,357 483,899 155,542
Total Local Sources 116,519,499 116,375,844 (143,655)
3000 Revenue from State Sources

3130 Special Programs:
3131 Handicapped Transportation - Bus Driver Aides 20,000 4,743 (15,257)
3132 Home Schooling - 629 629
3160 School Bus Driver Salary 1,406,361 1,702,545 296,184
3161 EAA Bus Driver Salary and Fringe 5,070 5,244 174
3162 Transportation Workers' Compensation 72,410 72,410 -
3180 Fringe Benefits Employer Contributions 37,465,715 37,560,123 94,408
3181 Retiree Insurance 7,723,648 7,728,160 4,512
3186 State Aid Classroom T/S 8,850,711 8,788,696 (62,015)
3199 Other State Restricted - 210 210
3300 Education Finance Act
3310 Full-Time Programs:
3311 Kindergarten 3,625,734 3,581,461 (44,273)
3312 Primary 10,887,827 10,824,995 (62,832)
3313 Elementary 20,361,166 20,041,111 (320,055)
3314 High School 6,623,878 6,558,060 (65,818)
3315 Trainable Mentally Handicapped 241,010 243,878 2,868
3316 Speech Handicapped (Part-time Program) 3,296,231 3,125,844 (170,387)
3317 Homebound 8,333 16,654 8,321
3320 Part-Time Programs:
3321 Emotionally Handicapped 410,830 378,912 (31,918)
3322 Educable Mentally Handicapped 212,271 192,982 (19,289)
3323 Learning Disabilities 6,759,752 6,751,446 (8,306)
3324 Hearing Handicapped 251,085 223,273 (27,812)
3325 Visually Handicapped 174,752 134,015 (40,737)
3326 Orthopedically Handicapped 90,979 109,672 18,693
3327 Vocational 11,958,064 12,665,580 707,516
3300 Other EFA Programs:
3331 Autism 3,110,467 3,245,627 135,160
3332 High Achieving 1,323,959 1,137,055 (186,904)
3334 Limited English Proficiency 516,371 552,968 36,597
3351 Academic Assistance 2,753,948 2,375,667 (378,281)
3352 Pupils in Poverty 6,497,422 6,541,088 43,666
3353 Dual Credit Enrollment 61,135 75,706 14,571
3392 NBC Excess EFA Formula - 220,109 220,109
(Continued)
77
SCHEDULE A-1
GENERAL FUND
REVISED
3800 State Revenue in Lieu of Taxes:
3810 Reimbursement for Local Residential Property Tax Relief $ 8,759,334 $ 8,759,333 $ (1)
3820 Homestead Exemption 1,894,248 1,894,248 -
3825 Reimbursement for Property Tax Relief - Tier 3 42,181,974 42,273,190 91,216
3830 Merchant's Inventory Tax - 378,141 378,141
3840 Manufacturer's Depreciation Reimbursement - 1,219,259 1,219,259
3900 Other State Revenue:

3993 PEBA on-Behalf 1,783,108 1,789,526 6,418
Total State Sources 189,327,793 191,172,560 1,844,767
4000 Revenue from Federal Sources
4100 Federally Impacted Areas
4110 Maintenance and Operations P.L. 81-874 200,000 126,457 (73,543)
Total Federal Sources 200,000 126,457 (73,543)
TOTAL REVENUES ALL SOURCES 306,047,292 307,674,861 1,627,569
EXPENDITURES
100 Instruction:
110 General Instruction:
111 Kindergarten Programs:
100 Salaries 7,618,187 7,397,661 220,526
200 Employee Benefits 3,338,358 3,287,037 51,321
300 Purchased Services 14,063 14,029 34
400 Supplies and Materials 28,925 27,320 1,605
112 Primary Programs:
100 Salaries 28,966,085 27,854,342 1,111,743
300 Purchased Services 335,360 176,158 159,202
113 Elementary Programs:
100 Salaries 36,524,421 35,009,905 1,514,516
200 Employee Benefits 14,859,648 13,768,263 1,091,385
600 Other Objects 1,274 726 548
114 High School Programs:
100 Salaries 27,505,134 26,678,241 826,893
500 Capital Outlay 15,000 - 15,000
600 Other Objects 2,516 2,516 -
115 Vocational Programs:
100 Salaries 3,393,829 3,271,345 122,484
500 Capital Outlay 10,954 7,254 3,700
600 Other Objects 319 319 -
116 Career and Technology Education (Vocational Programs) - Middle School
100 Salaries 226,400 207,043 19,357
200 Employee Benefits 86,198 80,791 5,407
118 Montessori Programs
100 Salaries 1,132,627 1,116,731 15,896
400 Supplies and Materials 15,000 14,497 503
(Continued)
78
SCHEDULE A-1
GENERAL FUND
REVISED
120 Exceptional Programs:
121 Educable Mentally Handicapped:
100 Salaries $ 2,112,852 $ 1,854,602 $ 258,250
122 Trainable Mentally Handicapped:
100 Salaries 1,236,986 1,123,506 113,480
123 Orthopedically Handicapped:
100 Salaries 43,376 43,376 -
200 Employee Benefits 29,648 29,466 182
300 Purchased Services 4,250 - 4,250
124 Visually Handicapped:
100 Salaries 18,094 5,078 13,016
125 Hearing Handicapped:
100 Salaries 326,668 326,668 -
126 Speech Handicapped:
100 Salaries 2,715,585 2,360,929 354,656
200 Employee Benefits 1,115,881 987,069 128,812
127 Learning Disabilities:
100 Salaries 7,916,874 7,195,884 720,990
128 Emotionally Handicapped:
100 Salaries 1,217,542 1,112,496 105,046
129 Coordinated Early Intervening Services (CEIS):
100 Salaries 473,326 340,731 132,595
130 Pre-School Programs:

133 Preschool Handicapped Self-Contained (5-Yr.-Olds):
100 Salaries 111,814 106,758 5,056
136 Preschool Handicapped Itinerant(3- and 4-Yr.-Olds):
100 Salaries 13,109 12,457 652
137 Pre-School Handicapped-Self-Contained (3 &4 year olds):
100 Salaries 932,508 832,310 100,198
139 Early Childhood Programs:
100 Salaries 243,415 186,347 57,068
400 Supplies and Materials 597 597 -
(Continued)
79
SCHEDULE A-1
GENERAL FUND
REVISED
141 Gifted and Talented - Academic:
100 Salaries $ 916,042 $ 908,348 $ 7,694
600 Other Objects 1,000 269 731
143 Advanced Placement:
100 Salaries 10,319 10,319 -
200 Employee Benefits 3,105 3,105 -
144 International Baccalaureate:
600 Other Objects 33,522 33,522 -
145 Homebound:
100 Salaries 112,508 111,276 1,232
400 Supplies and Materials 2,000 405 1,595
147 Full Day 4K:
100 Salaries 23,653 24,253 (600)
148 Gifted and Talented - Artistic:
100 Salaries 126,285 124,054 2,231
160 Other Exceptional Programs:

161 Autism:
100 Salaries 2,794,544 2,518,615 275,929
162 Limited English Proficiency
100 Salaries 2,016,841 1,787,765 229,076
140 Terminal Leave -
170 Summer School Programs:
171 Primary Summer School:
100 Salaries 86,691 - 86,691
200 Employee Benefits 25,929 - 25,929
300 Purchased Services 30 28 2
172 Elementary Summer School:
100 Salaries 47,677 - 47,677
200 Employee Benefits 12,517 - 12,517
300 Purchased Services -
173 High School Summer School:
100 Salaries 64,922 10,700 54,222
175 Instructional Programs Beyond Regular School Days:
100 Salaries 568,422 488,967 79,455
300 Purchased Services 972 943 29
400 Supplies and Materials 195 181 14
180 Adult/Continuing Educational Programs:
182 Adult Secondary Education Programs:
100 Salaries 72,955 15,286 57,669
(Continued)
80
SCHEDULE A-1
GENERAL FUND
REVISED
183 ESL Programs:
100 Salaries $ 1,580 $ 1,580 $ -
200 Employee Benefits 121 121 -
188 Parenting/Family Literacy:
100 Salaries 17,442 17,380 62
400 Supplies and Materials 1,409 1,409 -
190 Instructional Pupil Activity

100 Salaries 10,354 10,354 -
200 Employee Benefits 794 792 2
300 Purchased Services 500 500 -
Total Instruction 186,446,071 175,670,499 10,775,572
200 Supporting Services:

210 Pupil Services:
211 Attendance and Social Work Services:
100 Salaries 2,294,811 2,063,292 231,519
212 Guidance Services:
100 Salaries 5,753,364 5,441,278 312,086
213 Health Services:
100 Salaries 1,873,647 1,774,000 99,647
500 Capital Outlay 15,000 14,770 230
214 Psychological Services:
100 Salaries 2,496,276 2,353,911 142,365
215 Exceptional Program Services:
100 Salaries 178,545 145,263 33,282
217 Career Specialist Services:
100 Salaries 41,940 41,940 -
220 Instructional Staff Services:

221 Improvement of Instruction-Curriculum Development:
100 Salaries 3,064,395 3,026,908 37,487
200 Employee Benefits 1,650,151 1,649,443 708
600 Other Objects 104,534 104,534 -
222 Library and Media Services:
100 Salaries 3,276,805 3,075,160 201,645
(Continued)
81
SCHEDULE A-1
GENERAL FUND
REVISED
223 Supervision of Special Programs:
100 Salaries $ 2,924,354 $ 2,822,398 $ 101,956
600 Other Objects 24,000 9,495 14,505
224 Improvement of Instruction-Inservice and Staff Training:
100 Salaries 569,036 488,423 80,613
230 General Administration Services:
231 Board of Education:
100 Salaries 131,069 114,734 16,335
318 Audit services 42,000 37,350 4,650
600 Other Objects 60,500 55,057 5,443
232 Office of the Superintendent:
100 Salaries 917,000 917,000 -
600 Other Objects 74,510 73,932 578
233 School Administration:
100 Salaries 20,610,778 19,997,368 613,410
300 Purchased Services 1,048,125 952,775 95,350
500 Capital Outlay 7,300 5,769 1,531
600 Other Objects 31,259 29,626 1,633
250 Finance and Operations Services:
251 Pupil Transportation-Federally Mandated:
100 Salaries 223,007 223,007 -
252 Fiscal Services:
100 Salaries 1,889,970 1,839,167 50,803
600 Other Objects 95,300 86,356 8,944
680 Head of Organizational Unit Other Objects 50 (50)
253 Facilities Acq & Construction
100 Salaries 134,740 133,078 1,662
254 Operation and Maintenance of Plant:
100 Salaries 3,710,844 3,708,043 2,801
300 Purchased Services 13,149,603 13,311,096 (161,493)
321 Public utilities (exclude gas, oil, elec. & heating fuels) 1,685,000 1,520,575 164,425
400 Supplies and Materials 2,105,194 2,069,253 35,941
470 Energy (include gas, oil, elec. & heating fuels) 6,571,355 6,532,127 39,228
500 Capital Outlay 56,900 56,900 -
600 Other Objects 349,100 1,379,091 (1,029,991)
255 Student Transportation:
100 Salaries 7,573,668 7,057,930 515,738
500 Capital Outlay 66,827 66,827 -
(Continued)
82
SCHEDULE A-1
GENERAL FUND
REVISED
256 Food Service:
100 Salaries $ 82,185 $ 78,264 $ 3,921
258 Security:
100 Salaries 2,577,799 2,507,161 70,638
300 Purchased Services 1,523,356 1,523,327 29
500 Capital Outlay 11,953 11,953 -
260 Central Support Services:

262 Planning, Research, Development & Evaluation:
100 Salaries 897,208 873,572 23,636
600 Other Objects 42,368 41,953 415
263 Information Services:
100 Salaries 1,018,193 1,006,167 12,026
500 Capital Outlay 6,000 2,095 3,905
600 Other Objects 2,229 2,168 61
264 Staff Services:
100 Salaries 1,461,300 1,421,951 39,349
200 Employee Benefits 1,176,169 543,466 632,703
600 Other Objects 3,150 2,490 660
266 Technology and Data Processing Services:
100 Salaries 3,169,876 3,044,888 124,988
300 Purchased Services 324,208 2,806,245 (2,482,037)
600 Other Objects 1,200 1,097 103
270 Support Services - Pupil Activity:
271 Pupil Service Activities:
100 Salaries 1,004,219 992,822 11,397
600 Other Objects 92,325 92,321 4
Total Supporting Services 129,538,764 127,148,736 2,390,028
300 Community Service:

360 Welfare
100 Salaries 1,155,647 1,155,647 -
200 Employee Benefits 87,780 87,780 -
390 Other Community Services
100 Salaries 147,031 96,936 50,095
500 Capital Outlay 5,000 658 4,342
600 Other Objects 100 - 100
Total Community Service 1,638,353 1,521,032 117,321
(Continued)
83
SCHEDULE A-1
GENERAL FUND
REVISED
400 Other Charges:
410 Intergovernmental Expenditures
412-720 Payments to Other Governmental Units $ 311,963 $ 238,445 $ 73,518
Total Intergovernmental Expenditures 311,963 238,445 73,518
TOTAL EXPENDITURES 317,935,151 304,578,712 13,356,439
OTHER FINANCING SOURCES

5300 Sale of Capital Assets - 706 706
Interfund Transfers, From (To) Other Funds:
5230 Transfer from Special Revenue EIA Fund 8,665,691 8,868,556 202,865
5280 Transfer from Other Funds Indirect Costs 1,200,000 2,725,917 1,525,917
421-710 Transfer to Special Revenue Fund (444,000) (444,000) -
423-710 Transfer to Debt Service Fund (1,600,000) (1,591,211) 8,789
424-710 Transfer to Building Fund (10,000,000) (10,000,000) -
425-710 Transfer to Food Service Fund (383,832) (383,832) -
427-710 Transfer to Internal Service Fund (2,000,000) (2,000,000) -
Total Other Financing Sources (Uses) (4,562,141) (2,823,864) 1,738,277
EXCESS (DEFICIENCY) OF REVENUES AND OTHER FINANCING

SOURCES OVER EXPENDITURES AND OTHER FINANCING USES (16,450,000) 272,285 16,722,285
FUND BALANCE, Beginning of Year, As Previously Stated 94,606,189 94,606,189 -
Prior Period Adjustment - (247,230) (247,230)
FUND BALANCE, End of Year $ 78,156,189 $ 94,631,244 $ 16,475,055
Note: This schedule is presented as prescribed by the South Carolina State Department of Education.
84
THIS PAGE IS INTENTIONALLY LEFT BLANK
85
SCHEDULE B
SPECIAL REVENUE FUNDS

The Special Revenue funds are used to record revenues derived from the
State of South Carolina and the federal government, of which certain
funds are required to finance particular activities and may require
matching revenues from local sources. Separate revenues, expenditures
and changes in fund balances are set forth for various reporting
requirements.
During 1984, the state legislature passed the Education Improvement Act
(EIA) to upgrade the quality of education in South Carolina. Because of
the categorical nature of the revenue, the state requires that revenues and
expenditures be accounted for in separate funds. Accordingly, the EIA
funds are reported as Special Revenue funds in the districts financial
statements.
The Special Projects Fund is used to account for all federal, state and
local projects except for those funded under the Education Improvement
Act.
The Food Service Fund records the operation and maintenance of the
food service fund operations. The fund's purpose is to provide balanced
nutritional meals to School District students, some of which are free and
reduced meals under the United States Department of Agriculture school
breakfast and lunch programs.
The Pupil Activity Fund is used to record the receipts and disbursements
of monies for pupil activities at schools within the district. These activities
include student clubs and organizations, field studies, athletics, as well as,
many other student activities.
The following Special Revenue Fund schedules have been prepared in

the format mandated by the South Carolina Department of Education.
The account numbers shown on the schedules are also mandated by the
South Carolina Department of Education.
86
SCHEDULE B-1
SPECIAL REVENUE FUNDS - SPECIAL PROJECTS FUNDS
SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES
Other
Designated Other
Preschool Occupational Restricted Special Student
Title I IDEA Handicapped Education Adult State Revenue Activity
(BA Projects) (CA Projects) (CG Projects) (VA Projects) Education Grants Programs Funds
(201) (203) (205) (207) (243) (900s) (200s/800s) (700s) Total
REVENUES
1000 Revenue from Local Sources

1300 Tuition
1350 Tuition from Patrons for Summer School $ $ $ $ $ $ $ 133,231 $ $ 133,231
1700 Pupil Activities
1710 Admissions 387,546 28,148 415,694
1720 Bookstore Sales 548 548
1730 Pupil Organization Membership Dues and Fees 14,743 14,743
1740 Student Fees 436,413 436,413
1790 Other 442,391 4,727,164 5,169,555
1920 Contributions and Donations from Private Sources 109,917 450 110,367
1930 Medicaid 12,310 12,310
1955 Medicaid Reimbursement 764,405 764,405
1990 Miscellaneous Local Revenue
1999 Revenue from Other Local Sources 203,042 685,206 888,248
Total Local Sources - - - - - - 2,052,842 5,892,672 7,945,514

3100 Restricted State Funding:
3110 Occupational Education:
3118 EEDA Career Specialists 1,482,792 1,482,792
3120 General Education:
3127 Student Health and Fitness 281,308 281,308
3134 Child Early Reading Dev & Education Program (CERDEP) 1,908 1,908
3136 Student Health and Fitness-Nurses 581,347 581,347
3156 Adult Education 88,553 88,553
3190 Miscellaneous Restricted State Grants:
3193 Education License Plates 9,418 9,418
3199 Other Restricted State Grants 3,948 3,948
3600 Education Lottery Act Revenue:
3699 Other State Lottery Programs 5,000 5,000
3900 Other State Revenue:
3994 PEBA Nonemployer Contributions 47,852 47,852
3999 Revenue from Other State Sources 140,547 57,085 197,632
Total State Sources - - - - - 2,633,725 66,033 - 2,699,758
4000 Revenue from Federal Sources

4200 Occupational Education:
4210 Perkins Aid, Title I - Career & Technology Education - Basic Grants to States 321,715 321,715
4300 Elementary and Secondary Education Act of 1965 (ESEA):
4310 Title I, Basic State Grant Programs (Carryover Provision) 6,169,108 188,361 6,357,469
4341 Language Instruction for Limited English Proficient
and Immigrant Students, Title III 152,196 152,196
4343 McKinney-Vento Education for Homeless Children and Youth Program 68,347 68,347
4351 Supporting Effective Instruction 728,371 728,371
(Continued)
87
SCHEDULE B-1
Other
Designated Other
(201) (203) (205) (207) (243) (900s) (200s/800s) (700s) Total
4400 Adult Education:
4410 Basic Adult Education $ $ $ $ $ 212,224 $ $ $ $ 212,224
4500 Programs for Children with Disabilities:

4510 Individuals with Disabilities Education Act (IDEA) 4,782,778 8,886 4,791,664
4520 Pre-School Grants (for Children With Disabilities (IDEA) 197,869 197,869
4900 Other Federal Sources:

4924 Nita M. Lowey 21st Century Community Learning Centers, Program (Title
IV, 21st Century Schools) 1,527,580 1,527,580
4931 ARP IDEA 159,827 159,827
4933 ARP IDEA Preschool 52,247 52,247
4937 ARP Homeless Children & Youth 508 508
4974 ESSER III 3,495,393 3,495,393
4975 Coronavirus Aid, Relief, and Economic Security Act (CARES Act) 548,683 548,683
4977 ESSER II 4,867,232 4,867,232
4990 Other Federal Revenue:
4997 Tilte IV SSAE 544,317 544,317
4999 Revenue from Other Federal Sources 5,839,575 5,839,575
Total Federal Sources 6,169,108 4,782,778 197,869 321,715 212,224 - 18,181,523 - 29,865,217
TOTAL REVENUES ALL SOURCES 6,169,108 4,782,778 197,869 321,715 212,224 2,633,725 20,300,398 5,892,672 40,510,489
EXPENDITURES
100 Instruction
110 General Instruction
400 Supplies and Materials 470 470
100 Salaries 629,468 102,002 291,942 1,023,412
200 Employee Benefits 297,331 40,628 94,251 432,210
400 Supplies and Materials 521,107 9,418 1,308,443 1,838,968
100 Salaries 75,582 98,633 116,437 290,652
100 Salaries 377,567 377,567
200 Employee Benefits 115,354 115,354
115 Career & Technology Education Programs:
100 Salaries 16,582 10,069 26,651
500 Capital Outlay 34,194 34,194
(Continued)
88
SCHEDULE B-1
Other
Designated Other
(201) (203) (205) (207) (243) (900s) (200s/800s) (700s) Total
116 Career & Technology Education - Middle School Programs:
400 Supplies and Materials $ $ $ $ 13,578 $ $ $ 5,417 $ $ 18,995
120 Exceptional Programs

121 Educable Mentally Handicapped:
100 Salaries 274,055 1,820 275,875
200 Employee Benefits 118,823 423 119,246
300 Purchased Services 26,018 26,018
122 Trainable Mentally Handicapped:
100 Salaries 152,498 12,595 165,093
124 Visually Handicapped:
100 Salaries 9,556 21,467 31,023
125 Hearing Handicapped:
100 Salaries 67,502 1,487 68,989
400 Supplies and Materials 227 35,768 35,995
100 Salaries 92,695 120 92,815
400 Supplies and Materials 1,073 1,073
100 Salaries 310,336 181,250 491,586
100 Salaries 49,912 3,440 53,352
129 Coordinated Early Intervening Services (CEIS)
100 Salaries 43,292 43,292
130 Pre-School Programs

132 Preschool Handicapped Itinerant (5 Yr. Olds)
100 Salaries 4,920 4,920
133 Preschool Handicapped Self-Contained (5 Yr. Olds)
100 Salaries 85,758 85,758
137 Pre-School Handicapped Self-Contained (3 & 4 Yr. Olds):
100 Salaries 4,082 46,540 251,596 302,218
400 Supplies and Materials 21,113 8,888 58,292 88,293
(Continued)
89
SCHEDULE B-1
Other
Designated Other
(201) (203) (205) (207) (243) (900s) (200s/800s) (700s) Total
139 Early Childhood Programs
100 Salaries $ 1,712,776 $ $ $ $ $ $ 403 $ $ 1,713,179
140 Special Programs

147 Full Day 4K
149 Other Special Programs
100 Salaries 26,040 26,040
300 Purchased Services 622 622
160 Other Exceptional Programs

161 Autism:
100 Salaries 86,917 5,725 92,642
162 Limited English Proficiency:

170 Summer School Programs

171 Primary Summer School
100 Salaries 392,932 392,932
172 Elementary Summer School
100 Salaries 283,717 283,717
173 High School Summer School
100 Salaries 53,285 99,492 152,777
175 Instructional Programs Beyond Regular School Days
100 Salaries 19,890 1,140,949 1,160,839
300 Purchased Services 4,200 1,857,516 1,861,716
180 Adult/Continuing Education Programs

100 Salaries 65,261 9,986 75,247
(Continued)
90
SCHEDULE B-1
Other
Designated Other
(201) (203) (205) (207) (243) (900s) (200s/800s) (700s) Total
183 Adult English Literacy (ESL):
100 Salaries $ $ $ $ $ 57,099 $ $ $ $ 57,099
188 Parenting/Family Literacy:
100 Salaries 289,935 750 290,685
300 Purchased Services 9,442 175 9,617
600 Other Objects 2,836 2,836
190 Instructional Pupil Activity:

100 Salaries 291,956 291,956
660 Pupil Activity 288,548 288,548
Total Instruction 4,971,055 1,760,656 188,740 153,214 179,011 386,188 9,484,041 678,806 17,801,711
200 Support Services

210 Pupil Services
211 Attendance and Social Work Services
100 Salaries 7,660 7,660
212 Guidance Services:
100 Salaries 2,099 214,323 216,422
200 Employee Benefits 623 82,845 83,468
213 Health Services:
100 Salaries 581,347 224,993 806,340
214 Psychological Services:
100 Salaries 326,358 326,358
215 Exceptional Program Services:
100 Salaries 616,418 80 616,498
217 Career Specialist Services:
100 Salaries 999,348 999,348
(Continued)
91
SCHEDULE B-1
Other
Designated Other
(201) (203) (205) (207) (243) (900s) (200s/800s) (700s) Total
220 Instructional Staff Services
221 Improvement of Instruction - Curriculum Development:
100 Salaries $ 35,263 $ $ $ $ $ $ 361,813 $ $ 397,076
222 Library and Media:
100 Salaries 226,747 281,436 707,129 1,215,312
400 Supplies and Materials 4,124 3,928 1,456 106,468 115,976
600 Other Objects 24,828 24,828
224 Improvement of Instruction-In-service and Staff Training:
100 Salaries 173,219 173,219
300 Purchased Services 355,893 102,500 46,220 793,172 1,297,785
230 General Administration Services:
100 Salaries 80,645 80,645
250 Finance and Operations Services
251 Student Transportation (Federal/District Mandated):
100 Salaries 704,039 704,039
254 Operations and Maintenance of Plant:
255 Student Transportation:
100 Salaries 116,941 116,941
258 Security:
260 Central Support Services:
264 Staff Services:
100 Salaries 101,433 101,433
(Continued)
92
SCHEDULE B-1
Other
Designated Other
(201) (203) (205) (207) (243) (900s) (200s/800s) (700s) Total
266 Technology and Data Processing Services:
400 Supplies and Materials $ $ $ $ $ $ $ 100,515 $ $ 100,515
270 Support Services Pupil Activity

271 Pupil Service Activities:
100 Salaries 32,376 882,120 914,496
300 Purchased Services 5,000 281,571 21,587 308,158
600 Other Objects 28,178 100,920 843,031 972,129
660 Pupil Activity 3,500,736 3,500,736
Total Support Services 918,139 2,814,709 - 156,318 24,000 2,064,138 7,636,919 4,666,796 18,281,019
300 Community Services

350 Custody & Care of Children
100 Salaries 185 185
200 Employee Benefits 56 56
360 Welfare Services

370 Non-public School Services
390 Other Community Services

100 Salaries 96,939 96,939
Total Community Services 16,783 - - - - 137,791 65,964 - 220,538
410 Intergovernmental Expenditures
412 Payments to Other Governmental Units

720 Transits 1,529,328 1,529,328
414 Medicaid Payments to the SCDE
720 Transits 132,732 132,732
419 Payments from PEBA Nonemployer Contributions
720 Transits 47,852 47,852
Total Intergovernmental Expenditures - - - - - 47,852 1,662,060 - 1,709,912
TOTAL EXPENDITURES 5,905,977 4,575,365 188,740 309,532 203,011 2,635,969 18,848,984 5,345,602 38,013,180
(Continued)
93
SCHEDULE B-1
Other
Designated Other
(201) (203) (205) (207) (243) (900s) (200s/800s) (700s) Total
Interfund Transfers, From (To) Other funds
5210 Transfer from General Fund (Exclude Indirect Costs) $ $ $ $ $ $ $ 444,000 $ $ 444,000
5220 Transfer from Special Revenue Fund (Exclude Indirect Costs) 4,217 4,217
421-710 Transfer to Special Revenue Fund (4,217) (4,217)
431-791 Special Revenue Fund Indirect Costs (263,131) (207,413) (9,129) (12,183) (9,213) (2,756) (1,842,167) (2,345,992)
Total Other Financing Sources (Uses) (263,131) (207,413) (9,129) (12,183) (9,213) (2,756) (1,402,384) 4,217 (1,901,992)

SOURCES OVER EXPENDITURES AND OTHER FINANCING USES - - - - - (5,000) 49,030 551,287 595,317
FUND BALANCES, Beginning of Year - - - - - 15,951 614,109 4,094,490 4,724,550
FUND BALANCES, End of Year $ - $ - $ - $ - $ - $ 10,951 $ 663,139 $ 4,645,777 $ 5,319,867
94
SCHEDULE B-1

NOTES TO SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE
SPECIAL PROJECTS FUND
* Other Designated Restricted State Grants * Other Special Revenue Programs
913 Data District Governance Group 210 Title IV 814 Laptop Computer Insurance
919 Education License Plates 212 Extended School Year 824 Wellness-Palmetto Health
924 CERDEP Program Supplies 218 COVID-19, American Rescue Plan - 825 Sisters of Charity Foundation
928 EEDA Career Specialist Elementary and Secondary School Education 826 DHEC Recycling Mini Grant
936 Student Health and Fitness - Nurses Relief Plan (ARP - ESSER) / ESSER III 830 SC Council on the Holocaust
937 Student Health and Fitness - PE Teachers 220 COVID-19, Elementary and Secondary School 834 PTO Grants
956 Adult Education Education Relief Fund / 20 SC CARES ESSER 836 Verizon Wireless
969 Miscellaneous Adult Education 224 21st Century Grant 837 Society for Science
994 PEBA Nonemployer Contributions 225 COVID-19, Elementary and Secondary School 839 SC Coalition for Mathematics and Science
Education Relief Fund / ESSER II 840 Francis Marion Prep Teachers of Poverty Students
230 COVID-19, IDEA / ARP Act of 2021 841 Clemson Agricultural Education
232 McKinney Vento Education for Homeless 843 Profoundly Mentally Disabled
233 COVID-19, IDEA / ARP Act of 2021 / Preschool 846 Lipscomb Family Foundation
237 Title I Targeted Support and Improvement 847 Target Field Trip Grant
263 COVID-19, American Rescue Plan Elementary 848 Southeastern Grocers
and Secondary Schools Emergency Relief 849 Special Olympics
Fund Homeless Children and Youth (ARP-HCY) 851 United Way - Parenting Teen Partnership
264 Language Inst.for Ltd English Proficient, Title III 855 SC Arts Commission Grants
267 Title II - Supporting Effective Instruction 857 Beacon Hill Society Jan Stauber Grant
274 Youth Risk Behavior Surveys 858 Rotary Club of Forest Acres Grant
275 Department of Defense Grant # 6 861 Sodexo Grant
277 Gear Up (2015 Award) 862 Summer School
278 Magnet School Assistance (2017 Award) 867 Special Needs Transportation
279 Gear Up 2018 (Central Carolina) 868 Walmart Foundation Grant
284 Department of Defense MCASP 869 Athletics Spring Valley High School
288 Transportation 872 Donations
289 Impact Aid Handicapped, P.L. 81-874 878 Mid-Atlantic DoDEA Conference
292 ROTC 879 Athletics Richland Northeast High School
294 Department of Defense Grant #5 884 Athletics Ridge View High School
299 Medicaid 886 Ridge View High School Basketball Bash
801 Cornell Lab of Ornithology 892 Athletics Blythewood High School
803 ACS High School Chemistry Grant 894 Athletics Westwood High School
804 Inclusive Innovation for Adolescent Writing
95
SCHEDULE B-2

SPECIAL REVENUE FUNDS
SUMMARY SCHEDULE FOR DESIGNATED STATE RESTRICTED GRANTS
SPECIAL REVENUE SPECIAL

INTERFUND REVENUE
TRANSFERS FUND
SUBFUND REVENUE PROGRAMS REVENUES EXPENDITURES IN/(OUT) UNEARNED
919 3193 Education License Plates $ 9,418 $ 9,418 $ $ 9,090

928 3118 EEDA Career Specialists 1,482,792 1,482,792 843,884
936 3136 Student Health and Fitness - Nurses 581,347 581,347
937 3127 Student Health and Fitness - PE Teachers 281,308 281,308 278,062
956 3156 Adult Education 88,553 88,553 90,698
994 3994 PEBA Nonemployer Contributions 47,852 47,852
Totals $ 2,491,270 $ 2,491,270 $ - $ 1,221,734
96
SCHEDULE B-3
SPECIAL REVENUE FUNDS - EDUCATION IMPROVEMENT ACT
SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE
REVENUES
3500 Education Improvement Act:
3502 ADEPT $ 30,078
3509 Arts in Education 29,004
3518 Adoption List of Formative Assessments 117,542
3519 Grade 10 Assessments 113,830
3526 Refurbishment of Science Kits 81,880
3528 Industry Certifications/Credentials 89,772
3529 Career & Technical Education 848,786
3532 National Board Salary Supplement 2,901,386
3533 Teacher of the Year Awards 1,077
3535 Reading Coaches 1,300,425
3536 Student Health and Fitness Nurses 138,746
3538 Students at Risk of School Failure 2,408,659
3541 Child Early Reading Development and Education Program (CERDEP) 996,951
3550 Teacher Salary Increase 6,885,885
3555 Teacher Salary Fringe 1,654,077
3556 Adult Education 567,162
3557 Summer Reading Program 176,694
3571 CSI and Priority Schools 180,631
3577 Teacher Supplies 570,900
3594 EEDA Supplemental Programs 137,981
3595 EEDA Supplies and Materials 48,362
3597 Aid to Districts 1,591,175
3599 Other EIA 55,000
Total State Sources 20,926,003
TOTAL REVENUES ALL SOURCES 20,926,003
EXPENDITURES
100 Instruction:
110 General Instruction:
100 Salaries 77,500
200 Employee Benefits 23,415
400 Supplies and Materials 26,950
100 Salaries 1,129,687
300 Purchased Services 138,875
500 Capital Outlay 16,483
100 Salaries 1,027,067
(Continued)
97
SCHEDULE B-3

100 Salaries $ 886,288
115 Career and Technology Education Programs:
100 Salaries 25,000
116 Career and Technology Education Programs - Middle School
118 Montessori Programs
100 Salaries 7,500
120 Exceptional Programs:

121 Educable Mentally Handicapped
100 Salaries 31,289
122 Trainable Mentally Handicapped
100 Salaries 22,500
124 Visually Handicapped
400 Supplies and Materials 399
125 Hearing Handicapped
300 Purchased Services 792
100 Salaries 171,992
129 Coordinated Early Intervening Services (CEIS)
100 Salaries 7,500
(Continued)
98
SCHEDULE B-3
130 Pre-School Programs:

133 Pre-School Handicapped Self-Contained (5 Yr. olds):
400 Supplies and Materials $ 550
137 Preschool Handicapped Self-Contained (3 and 4 Year Old)
100 Salaries 98,015
139 Early Childhood Programs:
100 Salaries 17,500

141 Gifted and Talented Academic:
100 Salaries 15,000
145 Homebound:
147 Full Day Kindergarten:
148 Gifted and Talented Artistic:
160 Other Exceptional Programs

161 Autism
162 Limited English Proficiency
100 Salaries 26,628
170 Summer School Program:

171 Primary Summer School:
172 Elementary Summer School:
100 Salaries 17,474
(Continued)
99
SCHEDULE B-3
173 High School Summer School:

100 Salaries $ 23,200
175 Instructional Programs Beyond Regular School Day:
100 Salaries 1,907
200 Employee Benefits 576
180 Adult/Continuing Educational Programs:

181 Adult Basic Education Programs:
100 Salaries 46,391
183 Adult English Literacy (ESL):
188 Parenting:
Total Instruction 8,914,887
200 Supporting Services:
210 Pupil Services:

211 Attendance and Social Work Services
212 Guidance Services
213 Health Services
100 Salaries 43,016
214 Psychological Services
215 Exceptional Program Services
217 Career Specialist Service
(Continued)
100
SCHEDULE B-3
220 Instructional Staff Services

221 Improvement of Instruction - Curriculum Development:
100 Salaries $ 1,310,427
222 Library and Media Services:
100 Salaries 57,500
224 Improvement of Instruction - In-service and Staff Training:
100 Salaries 1,004
100 Salaries 65,269
250 Finance and Operations Services:
255 Student Transportation (State Mandated)
260 Support Service - Central:
266 Technology & Data Processing Services
100 Salaries 3,095
270 Support Services - Pupil Activity:
271 Pupil Service Activity
660 Pupil Activity 93,535
Total Support Services 3,142,560
TOTAL EXPENDITURES 12,057,447

420 Interfund Transfers, From (To) Other Funds:
420-710 Transfer to General Fund (Exclude Indirect Costs) (8,868,556)
TOTAL OTHER FINANCING SOURCES (USES) (8,868,556)
SOURCES OVER EXPENDITURES AND OTHER FINANCING USES -
FUND BALANCES, Beginning of Year -
FUND BALANCES, End of Year $ -
101
SCHEDULE B-4
SUMMARY SCHEDULE BY PROGRAM
EIA
TRANSFERS EIA FUND
PROGRAM REVENUES EXPENDITURES IN/(OUT) UNEARNED
3500 Education Improvement Act:

3502 ADEPT $ 30,078 $ 30,078 $ $ 45,193
3509 Arts in Education 29,004 29,004
3518 Adoption List of Formative Assessments 117,542 117,542
3519 Grade 10 Assessment 113,830 113,830 137,877
3526 Refurbishment of Science Kits 81,880 81,880 28,614
3528 Industry Certifications/Credentials 89,772 89,772 57,652
3529 Career & Technical Education 848,786 848,786 193,726
3532 National Board Salary Supplement 2,901,386 2,901,386
3533 Teacher of the Year Awards 1,077 1,077
3535 Reading Coaches 1,300,425 1,300,425
3536 Student Health and Fitness Nurses 138,746 138,746 3,334
3538 Students at Risk of School Failure 2,408,659 2,408,659 959,815
3541 Child Early Reading Dev & Education Program (CERDEP) 996,951 996,951 756,365
3550 Teacher Salary Increase 6,885,885 (6,885,885)
3555 Teacher Salary Fringe 1,654,077 (1,654,077)
3556 Adult Education 567,162 567,162 356,467
3557 Summer Reading Program 176,694 176,694 211,134
3571 CSI and Priority Schools 180,631 180,631 268,318
3577 Teacher Supplies 570,900 570,900
3594 EEDA Supplemental Programs 137,981 137,981
3595 EEDA Supplies and Materials 48,362 48,362 36,526
3597 Aid to Districts 1,591,175 1,262,581 (328,594) 439,662
3599 Other EIA 55,000 55,000 68,056
Totals $ 20,926,003 $ 12,057,447 $ (8,868,556) $ 3,562,739
102
SCHEDULE B-5
SCHEDULE OF REVENUES, EXPENSES AND CHANGES IN FUND BALANCE
FOOD SERVICE PROGRAM
REVENUES:
1000 Revenues from Local Sources:
1510 Interest on Investments $ 323
1600 Food Services:
1610 Lunch Sales to Pupils 23,886
1620 Breakfast Sales to Pupils 23,563
1630 Special Sales to Pupils 3,772
1640 Lunch Sales to Adults 26,590
1650 Breakfast Sales to Adults 4,801
1660 Special Sales to Adults 1,012
1990 Miscellaneous Local Revenue:
1999 Revenue from Other Local Sources 13,712
Total Local Sources 97,659
4000 Revenue from Federal Sources:

4800 USDA Reimbursements:
4810 School Lunch, After School Snacks & Special Milk Program 11,997,659
4820 Supply Chain Assistance Funding 556,729
4830 School Breakfast Program 5,145,777
4860 Fresh Fruits and Vegetables (FFVP) 62,637
4890 CN Emergency Operations 655,961
4900 Other Federal Sources:
4991 USDA Commodities (Food Distribution Program) 450,145
Total Federal Sources 18,868,908
Total Revenue - All Sources 18,966,567
EXPENSES:
250 Finance and Operation Services:
256 Food Services:
393 Direct Purchased Services 11,597,254
600 Other Objects 1,438
Total Expenses 13,776,625
OTHER FINANCING SOURCES(USES):
5210 Transfer from General Fund 383,832
432-791 Transfer Food Service Fund Indirect Costs (379,925)
Total Other Financing (Uses) 3,907
SOURCES OVER EXPENDITURES AND OTHER FINANCING USES 5,193,849
FUND BALANCE, Beginning of Year 4,369,106
FUND BALANCE, End of Year $ 9,562,955
103
104
SCHEDULE C
DEBT SERVICE FUND

The Debt Service Fund is used to record payments of interest and
principal on long-term general obligation debt from tax proceeds and
earnings on temporary investments.
Education.
105
SCHEDULE C-1
DEBT SERVICE FUND
REVENUES

1200 Revenue from Local Governmental Units Other than LEA's:
1210 Ad Valorem Taxes - Including Delinquent $ 64,067,725
1240 Penalties & Interest on Taxes 568
1280 Revenue in Lieu of Taxes 1,450,155
1510 Interest on Investments 745,938
Total Local Sources 66,264,386
TOTAL REVENUES ALL SOURCES 66,264,386
EXPENDITURES
500 Debt Service:
610 Redemption of Principal 49,552,000
620 Interest 19,555,059
Excess of Revenues Over Expenditures (2,983,172)
5100 Sale of Bonds
5130 Proceeds on Refunding Debt 42,180,000

441-720 Payment to Refunded Debt Escrow Agent (42,046,000)
Interfund Transfers, From (To) Other Funds
5210 Transfer from General Fund 1,591,211
Total Transfers and Other Financing Sources (Uses) 1,725,211

SOURCES OVER EXPENDITURES AND OTHER FINANCING USES (1,257,961)
106
SCHEDULE D
CAPITAL PROJECTS FUND

The Capital Projects fund, also referred to as the "Building Fund",
accounts for financial resources to be used for the acquisition and
construction of major capital facilities and equipment. The fund balance is
reserved for the completion of specific projects.
Education.
107
SCHEDULE D-1

CAPITAL PROJECTS FUND
REVENUES

1510 Interest on Investments $ 372,819
1900 Other Revenue from Local Services
1993 Receipt of Insurance Proceeds 2,250
1994 Receipt of Legal Settlements 40,000
TOTAL REVENUES ALL SOURCES 415,069
EXPENDITURES
200 Support Services
250 Finance and Operations:
251 Student Transportation
253 Facilities Acquisition and Construction:
100 Salaries 18,898
500 Capital Outlay
520 Construction Services 102,473,949
530 Improvements Other Than Buildings 3,454,501
540 Expendable Equipment 2,201,558
541 Equipment 35,236
550 Vehicles 204,534
590 Other 851,789
258 Security
500 Capital Outlay 1,694,901
260 Central Support Services
266 Data Processing Services
400 Supplies and Materials 5,338,766
Total Support Services 117,710,340
500 Debt Services

Total Debt Services 299,827

5100 Sale of Bonds:
5110 Premium on Bonds Sale 7,715,430
5120 Issuance of General Obligation Bonds 74,995,000
TOTAL OTHER FINANCING SOURCES (USES) 92,710,430

SOURCES OVER EXPENDITURES AND OTHER FINANCING USES (24,884,668)

108
SCHEDULE E
INTERNAL SERVICE FUND

The Internal Service Fund is used to account for the financing of goods
and services provided by one department to other departments of the
School District, on a cost-reimbursement basis.
Education.
109
SCHEDULE E-1

STATEMENT OF CHANGES IN NET POSITION AND LIABILITIES
INTERNAL SERVICE FUND
ASSETS
Cash and Cash Equivalent $ 1,681,504

Accounts Receivable 12,945
Prepaid Expenses 456,778
Receivable from Other Funds 2,381,313
TOTAL ASSETS 4,532,540
LIABILITIES AND NET POSITION
Claims Payable 1,980,534
TOTAL LIABILITIES 1,980,534
NET POSITION - UNRESTRICTED 2,552,006
TOTAL LIABILITIES AND NET POSITION $ 4,532,540
110
SCHEDULE E-2
SCHEDULE OF REVENUES, EXPENSES AND
CHANGES IN NET POSITION - INTERNAL SERVICE FUND
REVENUES
1000 Receipts from Local Sources
1500 Earnings on Investments
1510 Interest on Investments $ 507
1900 Other Revenue From Local Sources
1950 Refund of Prior Year Expenditures 481
1993 Receipt of Insurance Proceeds 67,870
TOTAL REVENUES ALL SOURCES 68,858
EXPENSES
111 Kindergarten Programs
112 Primary Programs
113 Elementary Programs
114 High School Programs
121 Educable Mentally Handicapped
122 Trainable Mentally Handicapped
124 Visually Handicapped
127 Learning Disabilities
128 Emotionally Handicapped
129 CEIS
137 Preschool Handicapped Self-Contained (3&4 Year Olds)
139 Early Childhood Programs
161 Autism
211 Attendance & Social Work
212 Guidance
213 Health Services
214 Psychological Services
215 Exceptional Program Services
221 Improvement of Instruction
223 Supervision of Special Programs
233 School Administration
252 Fiscal Services
100 Salaries 542
254 Operations and Maintenance of Plant
256 Food Service
258 Security
(Continued)
111
SCHEDULE E-2
SCHEDULE OF REVENUES, EXPENSES AND
CHANGES IN NET POSITION - INTERNAL SERVICE FUND
264 Staff Services

200 Employee Benefits $ 1,592
271 Non-Instructional Pupil Activities
350 Custody and Care of Children Services
TOTAL EXPENSES 1,994,775
EXCESS RECEIPTS OVER DISBURSEMENTS (1,925,917)

Total Other Financing Sources (Uses) 2,000,000

SOURCES OVER EXPENDITURES AND OTHER FINANCING USES 74,083
Net Position, Beginning of Year 2,477,923
Net Position, End of Year $ 2,552,006
112
SCHEDULE F
OTHER SUPPLEMENTAL SCHEDULE
The following schedule is required by the South Carolina Department of

Education.
113
SCHEDULE F-1
DETAILED SCHEDULE OF DUE TO STATE DEPARTMENT OF EDUCATION/FEDERAL GOVERNMENT
AMOUNT DUE TO
STATE DEPARTMENT
PROJECT/ SUBFUND & OF EDUCATION STATUS OF
GRANT REVENUE OR FEDERAL AMOUNT DUE
PROGRAM NUMBER CODES DESCRIPTION GOVERNMENT TO GRANTORS
Transportation Bus Permits N/A 100/NA Bus Permits for May & June 2022 $ 11,101.36 Paid - July 2022
Arts in Education N/A 309/3509 Unspent Funds 1,516.24 Unpaid
National Board Cetification N/A 332/3532 Overpayment 16,840.78 Unpaid
Adult Education N/A 356/3556 Unspent Funds 133,581.58 Unpaid
Summer Reading Program - Cultivating
Literacy within the Arts N/A 357/3557 Unspent Funds 27,639.38 Unpaid
CSI and Priority Schools N/A 371/3571 Unspent Funds 35,116.68 Unpaid
Teacher Supply N/A 377/3577 Overpayment 6,875.00 Unpaid
Adult Education N/A 956/3156 Unspent Funds 2,144.87 Unpaid
$ 234,815.89
114
SCHEDULE F-2
LOCATION RECONCILIATION SCHEDULE
LOCATION ID LOCATION DESCRIPTION EDUCATION LEVEL COST TYPE TOTAL EXPENDITURES
000 / 001 / 002/ 025 / Districtwide/Shared Cost Non-School Central $ 118,737,933

027/ 052 / 061 / 099
023 Support Service Center (District Operations) Non-School Central 20,607,964
024 / 026 Alternative Program - Blythewood Academy Alternative School School 3,217,305
031 Transportation Non-School Central 15,234,351
040 Richland Two Child Development Other School School 532,401
043 W R Rogers Adult Education Program Other School School 1,287,077
045 Center for Inquiry Elementary School School 2,343,501
048 Center for Knowledge - North Elementary School School 2,096,239
050 Center for Knowledge Elementary School School 3,848,411
055 Center for Achievement Elementary School School 1,861,786
060 R2i2 - Richland Two Institute for Innovation Other High School School 2,064,239
062 R2eSchool Other School School 1,817,477
069 Spring Valley High High School School 19,944,238
070 Bethel-Hanberry Elementary Elementary School School 30,743,718
072 Dent Middle Middle School School 11,116,167
073 Conder Elementary Elementary School School 7,580,707
074 Forest Lake Elementary Elementary School School 34,666,484
075 Joseph Keels Elementary Elementary School School 6,416,965
076 Lonnie B Nelson Elementary Elementary School School 6,048,257
077 Windsor Elementary Elementary School School 7,292,688
078 EL Wright Middle Middle School School 40,120,062
079 Richland Northeast High High School School 25,794,524
080 North Springs Elementary Elementary School School 7,377,399
081 Pontiac Elementary Elementary School School 7,825,294
082 Summit Parkway Middle Middle School School 8,456,508
083 Rice Creek Elementary Elementary School School 7,806,421
084 Ridgeview High High School School 20,115,575
085 Blythewood Middle Middle School School 7,752,407
086 Killian Elementary Elementary School School 8,909,505
087 Bookman Road Elementary Elementary School School 6,087,232
089 Lake Carolina Lower Elementary Elementary School School 5,685,072
090 Round Top Elementary Elementary School School 6,303,883
091 Kelly Mill Middle Middle School School 8,593,326
092 Blythewood High High School School 22,906,290
093 Sandlapper Elementary Elementary School School 7,454,909
094 Polo Road Elementary Elementary School School 7,614,623
095 Longleaf Middle Middle School School 8,213,998
096 Bridge Creek Elementary Elementary School School 6,769,377
097 Langford Road Elementary Elementary School School 5,495,607
098 Muller Road Middle Middle School School 7,089,561
100 Westwood High High School School 15,238,432
101 Catawba Trail Elementary Elementary School School 5,841,703
102 Lake Carolina Upper Elementary Elementary School School 5,721,295
103 Jackson Creek Elementary Elementary School School 7,047,391
600 Richland Two Charter High (District Funded) Other School School 162
TOTAL EXPENDITURES/DISBURSEMENTS FOR ALL FUNDS $ 557,678,464
The above expenditures are reconciled to the School District's financial statements as follows:
General Fund $ 304,578,712

Special Revenue Fund 38,013,180
Special Revenue - EIA Fund 12,057,447
Special Revenue - Food Service Fund 13,776,625
Debt Service Fund 69,247,558
Capital Projects Fund 118,010,167
Internal Service Fund 1,994,775
$ 557,678,464
115
116
STATISTICAL SECTION
(UNAUDITED)
The Statistical Section of the District's annual comprehensive financial

report presents detailed information as a context for understanding the
information in the financial statements, note disclosures, and required
supplementary information says about the School District's overall
financial health.
Financial Trends
These schedules contain trend information to help the reader understand
how the School District's financial performance and well-being have
changed over time.
Revenue Capacity
These schedules contain information to help the reader assess the School
District's most significant local revenue source, the property tax.
Debt Capacity
These schedules present information to help the reader assess the
affordability of the School District's current levels of outstanding debt and
the School District's ability to issue additional debt in the future.
Demographic and Economic Information

These schedules offer demographic and economic indicators to help the
reader understand the environment in which the School District's financial
activities take place.
Operating Information
These schedules contain service and infrastructure data to help the
reader understand how the information in the School District's financial
report relates to the services the District provides and the activities it
performs.
Sources: Unless otherwise noted, the information in these schedules is derived

from the annual comprehensive financial reports for the relevant year.
117
Table 1
NET POSITION BY COMPONENT
JUNE 2013 THROUGH 2022
(ACCRUAL BASIS)
2013 2014 2015* 2016 2017 2018 2019 ^ 2020 2021 2022
Net Investment in Capital Assets $ 109,733,690 $ 113,769,149 $ 116,956,102 $ 137,108,277 $ 158,447,739 $ 180,950,749 $ 209,007,266 $ 238,905,419 $ 265,535,892 $ 303,718,257
Restricted 12,180,380 14,499,495 17,118,957 22,845,297 21,330,566 23,136,508 28,770,909 33,105,014 37,008,631 41,434,849
Unrestricted 32,682,030 35,864,156 (250,572,529) (259,241,952) (263,469,464) (576,671,789) (579,605,154) (582,769,349) (596,718,784) (604,349,002)
Total Governmental Activities Net Position 154,596,100 164,132,800 (116,497,470) (99,288,378) (83,691,159) (372,584,532) (341,826,979) (310,758,916) (294,174,261) (259,195,896)
Business-Type Activities
Net Investment in Capital Assets 2,528,910 2,234,238 1,905,492 1,715,155 1,862,896 1,517,687 - - - -
Unrestricted 2,755,534 3,335,786 427,840 (50,770) (334,257) (2,809,225) - - - -
Total Business-Type Activities Net Position 5,284,444 5,570,024 2,333,332 1,664,385 1,528,639 (1,291,538) - - - -
Primary Government
Net Investment in Capital Assets 112,262,600 116,003,387 118,861,594 138,823,432 160,310,635 182,468,436 209,007,266 238,905,419 265,535,892 303,718,257
Restricted 12,180,380 14,499,495 17,118,957 22,845,297 21,330,566 23,136,508 28,770,909 33,105,014 37,008,631 41,434,849
Unrestricted 35,437,564 39,199,942 (250,144,689) (259,292,722) (263,803,721) (579,481,014) (579,605,154) (582,769,349) (596,718,784) (604,349,002)
Total Primary Government $ 159,880,544 $ 169,702,824 $ (114,164,138) $ (97,623,993) $ (82,162,520) $ (373,876,070) $ (341,826,979) $ (310,758,916) $ (294,174,261) $ (259,195,896)
* The District Implemented GASB 68 for the year ending June 30, 2015. This implementation required recognition of a significant pension liability which resulted in a reporting deficit.
^ The District had a change in accounting principle in 2019, which reclassified the food service fund from a Business-Type Activity to a Governmental Activity.
118
Table 2
EXPENSES, PROGRAM REVENUES AND NET (EXPENSE)
FOR FISCAL YEARS ENDED JUNE 30, 2013 THROUGH 2022
(ACCRUAL BASIS)
2013 2014 2015 2016 2017 2018 2019^ 2020 2021 2022
Expenses
Instruction $ 166,236,699 $ 171,250,774 $ 179,943,863 $ 182,882,044 $ 178,527,719 $ 200,253,684 $ 207,429,969 $ 206,378,461 $ 231,171,951 $ 225,192,106
Support Services 114,581,107 116,519,318 122,728,455 126,081,749 150,532,971 147,675,895 154,341,997 176,570,046 164,831,852 179,710,992
Community Services 1,534,120 1,189,962 1,168,386 156,500 190,015 297,796 323,550 360,780 272,943 1,740,912
Intergovernmental 1,200,154 1,391,393 1,683,142
Interest and Other Charges 28,822,086 14,944,692 24,422,848 9,934,821 9,148,324 13,360,729 8,302,252 6,393,711 18,947,617 12,975,699
Depreciation - Unallocated
Total Governmental Activities Expenses 312,374,166 305,296,139 329,946,694 319,055,114 338,399,029 361,588,104 370,397,768 389,702,998 415,224,363 419,619,709
Business-Type Activities:
Food Services 11,392,466 10,911,686 12,196,339 12,257,836 12,181,857 11,900,159 - - - -
Total Business-Type Activities Expenses 11,392,466 10,911,686 12,196,339 12,257,836 12,181,857 11,900,159 - - - -
Total Primary Government Expenses 323,766,632 316,207,825 342,143,033 331,312,950 350,580,886 373,488,263 370,397,768 389,702,998 415,224,363 419,619,709
Program Revenues
Charges for Services
Instruction 294,035 334,656 276,459 447,146 221,503 364,633 392,984 376,715 160,326 157,158
Support Services 160,689 162,922 144,774 157,823 212,346 470,353 3,064,277 2,571,379 299,997 493,198
Operating Grants and Contributions 121,897,536 127,304,694 137,514,617 139,135,888 149,846,237 160,595,221 176,473,741 188,607,078 198,981,630 216,967,501
Capital Grants and Contributions - - - - - - - - - -
Total Governmental Activities Program Revenues 122,352,260 127,802,272 137,935,850 139,740,857 150,280,086 161,430,207 179,931,002 191,555,172 199,441,953 217,617,857
Charges for Services
Food Services 3,408,127 3,107,800 3,093,080 3,147,985 2,752,009 2,621,519 - - - -
Operating Grants and Contributions 7,398,346 7,788,741 7,878,779 8,313,365 8,632,309 9,131,491 - - - -
Total Business-Type Activities Program Revenues 10,806,473 10,896,541 10,971,859 11,461,350 11,384,318 11,753,010 - - - -
Total Primary Government Program Revenues 133,158,733 138,698,813 148,907,709 151,202,207 161,664,404 173,183,217 179,931,002 191,555,172 199,441,953 217,617,857
Net (Expense) Revenue

Governmental Activities (190,021,906) (177,493,867) (192,010,844) (179,314,257) (188,118,943) (200,157,897) (190,466,766) (198,147,826) (215,782,410) (202,001,852)
Business-Type Activities (585,993) (15,145) (1,224,480) (796,486) (797,539) (147,149) - - - -
Total Primary Government Net (Expense)/Revenue $ (190,607,899) $ (177,509,012) $ (193,235,324) $ (180,110,743) $ (188,916,482) $ (200,305,046) $ (190,466,766) $ (198,147,826) $ (215,782,410) $ (202,001,852)
^ The District had a change in accounting principle in 2019, which reclassified the food service fund from a Business-Type Activity to a Governmental Activity. 119
Table 3
GENERAL REVENUES AND TOTAL CHANGE IN NET POSITION
FOR FISCAL YEARS ENDED JUNE 30, 2013 THROUGH 2022
(ACCRUAL BASIS)
2013 2014 2015 2016 2017 2018 2019^ 2020 2021 2022
Net (Expense) Revenue:
Governmental Activities $ (190,021,906) $ (177,493,867) $ (192,010,844) $ (179,314,257) $ (188,118,943) $ (200,157,897) $ (190,466,766) $ (198,147,826) $ (215,782,410) $ (202,001,852)
Business-Type Activities (585,993) (15,145) (1,224,480) (796,486) (797,539) (147,149) - - - -
Total Primary Government

Net (Expense) Revenue (190,607,899) (177,509,012) (193,235,324) (180,110,743) (188,916,482) (200,305,046) (190,466,766) (198,147,826) (215,782,410) (202,001,852)
General Revenues and Other

Changes in Net Position
Taxes
Property Taxes Levied for General Purposes 80,052,909 83,784,521 85,522,956 88,498,475 93,776,751 95,996,569 104,159,771 111,642,361 107,989,495 114,621,663
Property Taxes Levied for Debt Services 45,620,780 50,979,099 55,045,358 56,820,028 58,515,896 59,435,654 60,630,757 61,837,422 62,903,570 64,072,277
Unrestricted Grants and Contributions 51,422,890 50,670,589 51,399,853 48,764,658 49,061,032 51,581,912 53,707,919 51,878,218 54,667,139 56,101,351
Investment Earnings 2,650,981 600,886 841,808 1,073,829 757,078 1,729,617 2,614,083 3,206,031 1,018,938 1,487,350
Miscellaneous 2,200,928 2,225,996 2,467,129 1,217,658 1,963,685 1,082,236 1,403,327 651,857 2,339,418 944,806
Insurance Proceeds
Transfers (70,521) 147,187 216,336 148,701 (358,280) 44,590
Total Governmental Activities 181,877,967 188,408,278 195,493,440 196,523,349 203,716,162 209,870,578 222,515,857 229,215,889 228,918,560 237,227,447
Unrestricted Grants and Contributions
Investment Earnings 25,371 27,871 49,740 43,047 845 1,373
Miscellaneous 60,572 420,041 329,784 233,193 302,668 140,124
Gain on Sale of Capital Assets 2,858
Transfers 70,521 (147,187) (216,336) (148,701) 358,280 (44,590)
Total Business-Type Activities 159,322 300,725 163,188 127,539 661,793 96,907 - - - -
Total Primary Government 182,037,289 188,709,003 195,656,628 196,650,888 204,377,955 209,967,485 222,515,857 229,215,889 228,918,560 237,227,447
Change in Net Position

Governmental Activities (8,143,939) 10,914,411 3,482,596 17,209,092 15,597,219 9,712,681 32,049,091 31,068,063 13,136,150 35,225,595
Business-Type Activities (426,671) 285,580 (1,061,292) (668,947) (135,746) (50,242) - - - -
Change in Net Position - Primary Government $ (8,570,610) $ 11,199,991 $ 2,421,304 $ 16,540,145 $ 15,461,473 $ 9,662,439 $ 32,049,091 $ 31,068,063 $ 13,136,150 $ 35,225,595
^ The District had a change in accounting principle in 2019, which reclassified the food service fund from a Business-Type Activity to a Governmental Activity.
120
Table 4
FUND BALANCES OF GOVERNMENTAL FUNDS
LAST TEN FISCAL YEARS
(MODIFIED ACCRUAL BASIS)
2013 2014 2015 2016 2017 2018 2019 2020 2021 2022
General Fund
Nonspendable $ 110,666 $ 60,093 $ 51,494 $ 40,652 $ 50,196 $ - $ - $ - $ - $ -
Restricted
Committed
Assigned
Unassigned 33,673,599 38,308,823 39,616,139 40,226,954 46,152,355 52,973,547 69,878,973 81,237,752 94,606,189 94,631,244
Total General Fund 33,784,265 38,368,916 39,667,633 40,267,606 46,202,551 52,973,547 69,878,973 81,237,752 94,606,189 94,631,244
All Other Governmental Funds

Nonspendable 80,041 140,376 48,167
Restricted 134,501,224 117,090,962 106,725,208 72,286,334 51,168,835 53,073,535 77,743,295 119,515,274 169,760,174 149,498,920
Committed
Assigned
Unassigned
Total All Other Governmental Funds $ 134,501,224 $ 117,090,962 $ 106,725,208 $ 72,286,334 $ 51,168,835 $ 53,073,535 $ 77,743,295 $ 119,595,315 $ 169,900,550 $ 149,547,087
121
Table 5
GOVERNMENTAL FUNDS REVENUES
2013 2014 2015 2016 2017 2018 2019 2020 2021 2022
Sources
Local Sources:
Local Property Tax $ 120,964,929 $ 134,745,959 $ 140,503,482 $ 144,931,769 $ 152,222,454 $ 155,455,615 $ 164,916,416 $ 173,403,303 $ 172,285,774 $ 180,125,592
Interest Income 2,632,635 592,701 834,453 1,049,521 739,473 1,704,469 2,466,461 3,085,617 1,018,434 1,486,843
Other Revenues 8,367,295 4,324,464 4,568,823 3,729,041 4,058,968 3,051,338 6,436,948 5,461,103 4,934,924 9,486,037
Total Revenue from Local Sources 131,964,859 139,663,124 145,906,758 149,710,331 157,020,895 160,211,422 173,819,825 181,950,023 178,239,132 191,098,472
State Sources:
State Education Finance Act 53,878,465 57,000,947 61,228,465 64,493,666 70,312,436 76,186,540 78,295,200 78,387,618 77,920,214 78,996,103
State Revenue in Lieu of Taxes 46,382,333 47,143,068 47,786,914 48,527,591 48,837,828 49,493,108 51,668,892 48,656,892 50,078,440 52,926,771
State Education Improvement Act 20,114,400 20,101,967 19,110,992 16,076,246 18,028,745 19,382,826 19,229,408 22,827,870 22,222,014 20,926,003
State Grants & Other State Revenue 36,823,577 34,645,799 36,350,570 38,685,065 40,631,865 47,183,734 50,818,188 58,058,454 65,465,901 61,949,444
Total Revenue from State Sources 157,198,775 158,891,781 164,476,941 167,782,568 177,810,874 192,246,208 200,011,688 207,930,834 215,686,569 214,798,321
Federal Sources:
Federal Grants 13,260,225 17,468,028 22,562,606 17,982,496 19,089,346 18,615,660 28,366,177 30,622,627 33,372,966 48,860,582
Total Federal Sources 13,260,225 17,468,028 22,562,606 17,982,496 19,089,346 18,615,660 28,366,177 30,622,627 33,372,966 48,860,582
Intergovernmental Revenue
Intergovernmental Revenue 612,294 92,980 194,007 238,276 352,513 181,149 229,733 213,581 972,255 -
Total Intergovernmental Revenues 612,294 92,980 194,007 238,276 352,513 181,149 229,733 213,581 972,255 -
Total Revenues from All Sources $ 303,036,153 $ 316,115,913 $ 333,140,312 $ 335,713,671 $ 354,273,628 $ 371,254,439 $ 402,427,423 $ 420,717,065 $ 428,270,922 $ 454,757,375
122
Table 6
GOVERNMENTAL FUNDS EXPENDITURES AND DEBT SERVICE RATIO
2013 2014 2015 2016 2017 2018 2019 2020 2021 2022
Expenditures
Current:
Instruction $ 150,941,022 $ 156,617,482 $ 162,098,330 $ 162,705,321 $ 167,746,259 $ 173,500,467 $ 176,804,024 $ 187,061,064 $ 194,706,976 $ 202,193,217
Support Services 104,499,931 106,497,349 112,622,549 115,753,657 144,017,660 127,617,115 138,270,437 166,955,061 148,640,842 167,859,552
Community Services 1,534,120 1,189,961 1,168,386 156,500 190,015 297,796 323,550 360,780 272,943 1,740,912
Capital Additions 28,802,838 21,254,322 18,154,121 44,273,913 9,484,256 6,935,244 6,290,035 33,542,151 121,741,503 112,394,266
Debt Service:
Principal Retirement 56,500,000 29,305,000 97,210,000 37,665,000 40,246,000 43,972,984 45,847,000 127,335,000 47,314,000 49,552,000
Interest and Fiscal Charges 26,128,127 22,775,177 30,874,055 17,409,696 16,740,331 15,200,286 14,155,133 18,077,428 18,440,053 19,995,385
Intergovernmental 1,200,154 1,391,393 1,683,142 1,739,055 1,855,598 3,754,927 5,073,420 5,487,843 4,928,339 1,948,357
Total Expenditures $ 369,606,192 $ 339,030,684 $ 423,810,583 $ 379,703,142 $ 380,280,119 $ 371,278,819 $ 386,763,599 $ 538,819,327 $ 536,044,656 $ 555,683,689
Debt Service as a Percentage of

Non-Capital Expenditures 23.72% 16.32% 31.85% 16.38% 15.33% 15.96% 15.74% 28.53% 15.62% 15.47%
123
Table 7
OTHER FINANCING SOURCES AND USES AND

NET CHANGE IN FUND BALANCES, GOVERNMENTAL FUNDS
2013 2014 2015 2016 2017 2018 2019 2020 2021 2022
Excess of Revenues Over
(Under) Expenditures $ (66,570,039) $ (22,914,771) $ (90,670,271) $ (43,989,471) $ (26,006,491) $ (24,380) $ 15,663,824 $ (118,102,262) $ (107,773,734) $ (100,926,314)
Other Financing Sources (Uses)

General & Special Long-Term Debt Issued 106,836,546 11,396,124 10,000,000 10,000,000 12,100,000 50,880,000 26,000,000 67,625,000 149,995,000 117,175,000
Premium on Bonds Issued 12,864,732 1,491,294 579,826 6,846,795 151,580 21,172,587 19,487,078 7,715,430
Sale of Capital Assets 2,594 45,849 12,166 10,575 2,391 13,563 63,891 15,474 16,823 706
Payments to Refunded Debt Escrow Agents (46,822,585) (42,046,000)
Issuance of Refunded Debt (Net) 60,010,000 85,000,000
Transfers in 9,183,514 6,439,855 9,228,298 7,163,447 8,709,364 8,386,612 10,221,778 15,261,965 16,100,229 24,013,516
Transfers out (9,254,035) (7,792,668) (10,511,962) (8,514,746) (10,567,644) (10,604,309) (13,063,993) (17,761,965) (17,600,229) (26,013,516)
Total Other Financing Sources 106,768,619 10,089,160 81,603,234 10,150,570 10,823,937 8,700,076 23,373,256 171,313,061 167,998,901 80,845,136
Net Change in Fund Balances $ 40,198,580 $ (12,825,611) $ (9,067,037) $ (33,838,901) $ (15,182,554) $ 8,675,696 $ 39,037,080 $ 53,210,799 $ 60,225,167 $ (20,081,178)
124
Table 8
ASSESSED VALUE AND ACTUAL VALUE OF TAXABLE PROPERTY
Fiscal Assessed Value Actual Value Total

Year Real Personal Real Personal Direct
Ended Property Property Total Property Property Total Tax Rate
2013 $ 409,508,640 $ 128,883,188 $ 538,391,828 $ 8,967,744,550 $ 1,644,392,695 $ 10,612,137,245 367.5

2014 $ 414,201,660 $ 135,129,099 $ 549,330,759 $ 9,069,862,050 $ 1,736,060,994 $ 10,805,923,044 385.5
2015 $ 380,188,860 $ 137,722,914 $ 517,911,774 $ 8,250,836,720 $ 1,785,430,842 $ 10,036,267,562 406.0
2016 $ 389,892,460 $ 143,192,835 $ 533,085,295 $ 8,466,308,860 $ 1,867,523,548 $ 10,333,832,408 412.0
2017 $ 398,138,830 $ 147,487,771 $ 545,626,601 $ 8,653,428,450 $ 1,910,910,660 $ 10,564,339,110 427.0
2018 $ 411,907,320 $ 144,756,816 $ 556,664,136 $ 8,947,211,680 $ 1,874,515,236 $ 10,821,726,916 429.2
2019 $ 423,322,970 $ 146,610,390 $ 569,933,360 $ 9,192,444,464 $ 1,893,019,320 $ 11,085,463,784 439.6
2020 $ 456,716,580 $ 147,443,009 $ 604,159,589 $ 9,889,374,511 $ 1,906,521,805 $ 11,795,896,316 435.7
2021 $ 471,310,810 $ 154,596,412 $ 625,907,222 $ 10,198,757,481 $ 2,019,781,463 $ 12,218,538,944 435.7
2022 $ 482,957,190 $ 153,399,733 $ 636,356,923 $ 10,479,841,950 $ 2,043,414,902 $ 12,523,256,852 435.7
Source: Richland County Assessor's Office and Richland County Auditor's Office
125
Table 9
DIRECT AND OVERLAPPING PROPERTY TAX RATES
(rate per $1,000 of assessed value)
Overlapping Rates ª
District Direct Rates Recreation
Richland District of East Richland Richland-
Fiscal General Capital School Richland Richland Public Service Lexington
Year Purposes Purposes Total District 2 County County District Riverbanks Park
2013 282.5 85.0 367.5 367.5 84.2 14.1 4.0 2.00

2014 291.5 94.0 385.5 385.5 86.5 14.4 4.0 2.10
2015 298.0 108.0 406.0 406.0 93.9 15.6 4.0 2.70
2016 304.0 108.0 412.0 412.0 95.6 15.8 4.0 2.40
2017 319.0 108.0 427.0 427.0 96.8 15.8 6.0 2.40
2018 321.2 108.0 429.2 429.2 97.1 16.1 6.0 2.40
2019 331.6 108.0 439.6 439.6 99.3 16.5 6.0 2.40
2020 331.7 104.0 435.7 435.7 97.7 16.0 4.0 2.40
2021 331.7 104.0 435.7 435.7 96.5 15.0 4.0 2.40
2022 331.7 104.0 435.7 435.7 96.5 15.0 4.0 2.20
Source: County Auditor's Office
Note: ª Includes levies for operating and debt service costs.
126
Table 10
PRINCIPAL PROPERTY TAXPAYERS
CURRENT YEAR AND 2013
2022 2013
Taxable Percentage of Taxable Percentage of
Assessed Total Taxable Assessed Total Taxable
Taxpayer Rank Value Value Rank Value Value
Dominion Energy 1 1 $ 19,554,290 3.07% 1 $ 16,198,640 2.94%

Blue Cross - Blue Shield** 2 7,349,060 1.15% 2 8,109,000 1.47%
JTEKT North America Corp** 3 7,055,490 1.11% 4 2,852,870 0.52%
Trane US Inc 4 6,661,040 1.04%
Charter 5 3,833,090 0.60%
Intertape Polymer Corp 6 2,549,280 0.40%
Fairfield Electric Co-op Inc 7 2,258,610 0.35% 9 1,857,230 0.34%
FN America LLC 8 2,166,690 0.34% 6 2,132,620 0.39%
The Kroger Co 9 2,144,910 0.34% 7 1,973,090 0.36%
Edward Rose Development Co. LLC 10 1,941,100 0.30%
Bose Corporation 3 3,185,080 0.58%
Bellsouth Telecommunications 8 1,969,970 0.36%
Century Realty, LLC 5 2,184,880 0.40%
IBM Credit, LLC 10 1,719,510 0.31%
Total $ 55,513,560 8.70% $ 42,182,890 7.67%
Source: County Treasurer's Office

** Fee agreement reduced taxes owed
1 Formerly SC Electric & Gas/SCANA
127
Table 11
PROPERTY TAX LEVIES AND COLLECTIONS
Collected Within the

Fiscal Year of the Levy Total Collections to Date
Taxes Levied Collections
Fiscal for the Percentage in Subsequent Percentage
Year Fiscal Year Amount of Levy Year Amount of Levy
2013 $ 126,061,667 $ 119,395,021 94.71% $ 2,622,974 $ 122,017,995 96.79%

2014 $ 131,695,063 $ 126,674,179 96.19% $ 2,453,974 $ 129,128,153 98.05%
2015 $ 133,882,532 $ 128,756,319 96.17% $ 3,887,962 $ 132,644,281 99.08%
2016 $ 139,053,118 $ 130,985,169 94.20% $ 1,802,579 $ 132,787,748 95.49%
2017 $ 146,075,919 $ 140,150,070 95.94% $ 1,779,640 $ 141,929,710 97.16%
2018 $ 148,453,984 $ 141,152,003 95.08% $ 2,827,840 $ 143,979,843 96.99%
2019 $ 154,805,872 $ 146,904,884 94.90% $ 4,992,627 $ 151,897,511 98.12%
2020 $ 166,078,425 $ 150,779,404 90.79% $ 2,642,874 $ 153,422,278 92.38%
2021 $ 169,811,094 $ 158,275,948 93.21% $ 2,246,053 $ 160,522,001 94.53%
2022 $ 168,751,722 $ 158,972,317 94.20% $ - $ 158,972,317 94.20%
Source : County Treasurer
128
Table 12
RATIOS OF DEBT OUTSTANDING
Ratios of Total Debt Outstanding

Percentage of
General & Special Unamortized Total Debt Actual Taxable Percentage
Obligation Bond Primary Value of of Personal
Year Bonds Premiums Government Property Income Per Capita
2013 $ 509,435,000 $ 46,289,512 $ 555,724,512 103% 3% $ 1,400

2014 $ 489,560,000 $ 40,695,255 $ 530,255,255 97% 3% $ 1,323
2015 $ 462,360,000 $ 47,066,450 $ 509,426,450 98% 3% $ 1,253
2016 $ 434,695,000 $ 40,935,532 $ 475,630,532 89% 4% $ 1,161
2017 $ 406,549,000 $ 34,163,324 $ 440,712,324 81% 4% $ 1,068
2018 $ 370,646,000 $ 31,207,636 $ 401,853,636 72% 5% $ 968
2019 $ 350,799,000 $ 25,869,403 $ 376,668,403 66% 5% $ 903
2020 $ 376,089,000 $ 34,639,510 $ 410,728,510 68% 5% $ 975
2021 $ 478,770,000 $ 48,593,670 $ 527,363,670 84% 4% $ 1,252
2022 $ 506,393,000 $ 48,055,370 $ 554,448,370 87% 4% $ 1,312
Ratios of General Bonded Debt Outstanding

Percentage of
Total Debt Less: Net Position Net General Actual Taxable Percentage
Primary Restricted for Debt Bonded Debt Value of of Personal
Year Government Service Payments Outstanding Property Income Per Capita
2013 $ 555,724,512 $ 12,163,874 $ 543,560,638 101% 3% $ 1,369

2014 $ 530,255,255 $ 14,482,989 $ 515,772,266 94% 3% $ 1,287
2015 $ 509,426,450 $ 17,102,451 $ 492,323,999 95% 3% $ 1,211
2016 $ 475,630,532 $ 22,828,791 $ 452,801,741 85% 4% $ 1,106
2017 $ 440,712,324 $ 21,313,250 $ 419,399,074 77% 4% $ 1,017
2018 $ 401,853,636 $ 23,119,192 $ 375,207,997 67% 5% $ 904
2019 $ 376,668,403 $ 25,343,387 $ 351,325,016 62% 6% $ 842
2020 $ 410,728,510 $ 26,726,508 $ 384,002,002 64% 5% $ 912
2021 $ 527,363,670 $ 27,914,975 $ 499,448,695 80% 5% $ 1,186
2022 $ 554,448,370 $ 26,552,027 $ 527,896,343 83% 4% $ 1,250
Source: District Records
Notes:
See Table 8 for property value data
See Table 15 for Personal Income and Per Capita Income Data
Details regarding the District's outstanding debt can be found in the notes to the financial statements
129
Table 13
LEGAL DEBT MARGIN
2013 2014 2015 2016 2017 2018 2019 2020 2021 2022
Debt Limit $ 43,071,346 $ 43,946,461 $ 41,432,942 $ 42,646,824 $ 43,650,128 $ 44,533,131 $ 45,594,669 $ 48,332,767 $ 50,072,578 $ 50,908,554
Total Net Debt Applicable to Limit 28,910,000 23,910,000 36,840,000 40,330,000 43,490,000 43,875,000 31,840,000 19,290,000 9,735,000 2,080,000
Legal Debt Margin $ 14,161,346 $ 20,036,461 $ 4,592,942 $ 2,316,824 $ 160,128 $ 658,131 $ 13,754,669 $ 29,042,767 $ 40,337,578 $ 48,828,554
Total Net Debt Applicable to Limit

as a Percentage of Debt Limit 67.12% 54.41% 88.91% 94.57% 99.63% 98.52% 69.83% 39.91% 19.44% 4.09%
Legal Debt Margin Calculation:

Total Assessed Value $ 636,356,923
Debt Limit (8% of Total Assessed Value) 50,908,554
Amount of Debt Applicable to Debt Limit:

Total Bonded Debt Outstanding 506,393,000
Less: General Bonds Outstanding Not Subject to Debt Limit (504,313,000)
Total Net Debt Applicable to Debt Limit 2,080,000
Legal Debt Margin $ 48,828,554
Notes:
The Constitution of the State of South Carolina allows for school districts to issue
up to 8% of the assessed value of all properties in the School District.
130
Table 14
DIRECT AND OVERLAPPING DEBT
June 30, 2022
Assessed Percentage
Debt Value Related Applicable District Share
Outstanding to Debt to District of Debt
Overlapping Debt
City of Columbia $ 135,601,172 $ 621,843,291 9.66% $ 13,102,619

Richland County 115,680,000 1,820,832,806 34.95% 40,428,626
Recreation District 27,766,000 1,198,989,515 48.06% 13,345,179
Richland/Lexington Riverbank Park District 27,299,000 1,820,832,806 34.95% 9,540,639
East Richland County Public Sewer District 9,946,951 251,326,782 72.82% 7,243,097
Richland/Lexington Airport District 4,135,000 1,820,832,806 34.95% 1,445,128
Total Overlapping Debt 320,428,123 85,105,288
Direct
Richland School District Two 554,448,370 636,356,923 100.00% 554,448,370

Total Direct Debt 554,448,370 554,448,370
Total Direct and Overlapping Debt $ 874,876,493 $ 639,553,658
Source: Richland County Treasurer's Office & Richland County Auditor
Note: The percentage of overlapping debt applicable to the School District is estimated using the taxable assessed property values. The County Auditor calculates the
applicable percentages based on the assessed values of each overlapping entity. Debt and % information reflects the most recent information provided by Richland
County. The County does not include unamortized bond premiums in the information reported, however the district's debt outstanding does include premiums.
131
Table 15
DEMOGRAPHIC AND ECONOMIC STATISTICS
LAST TEN CALENDAR YEARS
County
Calendar Per Capita County Personal Unemployment
Year Population (a) Income (b) Income (b) Rate (c)
2013 397,015 $ 38,359 $ 15,229,272 6.9%

2014 400,688 $ 40,103 $ 16,068,690 6.0%
2015 406,455 $ 41,764 $ 16,975,172 5.7%
2016 409,569 $ 42,391 $ 17,361,967 4.8%
2017 412,492 $ 43,951 $ 18,129,473 3.9%
2018 415,159 $ 45,001 $ 18,868,559 3.3%
2019 417,027 $ 46,806 $ 19,519,574 1.8%
2020 419,051 $ 49,678 $ 20,817,446 5.3%
2021 421,085 $ 52,980 $ 22,730,168 3.6%
2022 422,475 $ 56,159 $ 23,725,689 3.4%
(a) 2012 to 2022, US Bureau of Economic Analysis; 2022 estimated

(b) US Bureau of Economic Analysis, US Department of Commerce; 2022 estimated
(c) State Agency for Workforce Innovation, Office of Workforce Information Services,
Labor Market Statistics; October data for 2021 and 2022
132
Table 16
PRINCIPAL EMPLOYERS
CURRENT YEAR AND 2013
2022 2013
Percentage Percentage
of Total County of Total County
Employer Employees Rank Employment Employees Rank Employment
Prisma Health Midlands 1 14,000 - 15,000 1 8.0% 9,000 - 10,000 1 2.7%

Blue Cross-Blue Shield of SC 10,000 - 11,000 2 5.2% 6,000 - 7,000 2 1.9%
University of South Carolina 6,000 - 7,000 3 3.4% 4,000 - 5,000 3 1.3%
Richland School District One 4,000 - 5,000 4 2.3% 4,000 - 5,000 4 1.3%
Richland School District Two 3,000 - 4,000 5 1.9% 3,000 - 4,000 6 1.0%
Dominion Energy 2 3,000 - 4,000 6 1.3% 2,000 - 3,000 8 0.7%
City of Columbia 2,000 - 3,000 7 1.1% 2,000 - 3,000 10 0.7%
AT&T 2,000 - 3,000 8 1.0% 2,000 - 3,000 7 0.7%
Richland County 1,000 - 2,000 9 0.8%
Dorn VA Medical Ctr 1,000 - 2,000 10 0.5%
Department of Defense 3,000 - 4,000 5 1.3%
Humana Tricare 2,000 - 3,000 9 0.7%
Total 46,000 - 56,000 30,000 - 40,000
Source: Central South Carolina Alliance, SC Employment Security Commission, Central Midlands Council of Governments
Richland County Economic Development Office
Information on Principal Employers for Richland County was only available in the form of range of employees.
1 Formerly Palmetto Health
2 Formerly SC Electric & Gas/SCANA
133
Table 17
FULL-TIME EQUIVALENT SCHOOL DISTRICT EMPLOYEES BY TYPE
2013 2014 2015 2016 2017 2018 2019 2020 2021 2022
Instruction
Teaching Faculty 1,892 1,942 1,993 2,015 2,037 2,059 2,019 2,114 2,119 2,009
Other 506 520 593 572 556 565 626 614 619 640
Total Instruction 2,398 2,462 2,586 2,587 2,593 2,624 2,645 2,728 2,738 2,649
Support Services
Principals 36 36 37 36 36 37 36 36 36 35
Assistant Principals 80 83 83 82 83 85 84 80 80 80
Other Administration & Support 910 920 922 984 993 995 997 965 964 1,004
Total Support Services 1,026 1,039 1,042 1,102 1,112 1,117 1,117 1,081 1,080 1,119
Total 3,424 3,501 3,628 3,689 3,705 3,741 3,762 3,809 3,818 3,768

Note: Full-time instructional employees of the District are employed for all 180 scheduled school days, at seven hours per day or 1,260 per year. Total work hours by
instructional employees are divided by 1,260 to obtain full-time employment. Full-time equivalent employment for all other positions is determined based on 1,820 hours per
year (52 weeks times five days times seven hours).
134
Table 18
OPERATING STATISTICS
Percentage
of Students
Modified Accrual Basis of Accounting Accrual Basis of Accounting Receiving
Fiscal Free or
Year Operating Cost Per Percentage Cost Per Percentage Teaching Reduced-Price
Ended Enrollment Expenditures Pupil Change Expenses Pupil Change Staff Meals
2013 26,533 $ 258,175,227 $ 9,730 5.35% $ 312,307,926 $ 11,771 7.23% 1,892 47%
2014 26,877 $ 265,696,185 $ 9,886 1.60% $ 305,296,139 $ 11,359 -3.50% 1,942 49%
2015 27,325 $ 277,572,407 $ 10,158 2.76% $ 329,946,694 $ 12,075 6.30% 1,993 49%
2016 27,607 $ 280,354,533 $ 10,155 -0.03% $ 319,055,114 $ 11,557 -4.29% 2,015 49%
2017 27,872 $ 313,809,532 $ 11,259 10.87% $ 338,399,029 $ 12,141 5.05% 2,037 49%
2018 28,056 $ 305,170,305 $ 10,877 -3.39% $ 361,588,104 $ 12,888 6.15% 2,059 50%
2019 28,359 $ 320,471,431 $ 11,301 3.89% $ 370,397,768 $ 13,061 1.34% 2,019 50%
2020 28,549 $ 359,864,748 $ 12,605 11.54% $ 389,702,998 $ 13,650 4.51% 2,114 49%
2021 27,873 $ 348,549,100 $ 12,505 -0.80% $ 415,224,363 $ 14,897 9.13% 2,119 49%
2022 28,406 $ 373,742,038 $ 13,157 5.22% $ 419,619,709 $ 14,772 -0.84% 2,009 56%
Source: All information from School District records.
Note: Operating expenditures are total expenditures in the governmental funds less debt service and capital outlay expenditures.
135
Table 19
SCHOOL BUILDING INFORMATION
2013 2014 2015 2016 2017 2018 2019 2020 2021 2022
Anna Boyd School

Square Feet 13,500 13,500 13,500 13,500 - - - - - -
Capacity (Students) 200 200 200 200 - - - - - -
Enrollment 38 40 40 40 - - - - - -
Bethel-Hanberry Elementary School

Square Feet 128,369 128,369 128,369 128,369 128,369 128,369 128,369 128,369 128,369 137,322
Capacity (Students) 634 634 634 634 634 634 634 634 634 800
Enrollment 648 668 674 720 720 705 722 804 799 755
Bookman Road Elementary School

Square Feet 81,670 81,670 81,670 81,670 81,670 81,670 81,670 81,670 81,670 81,670
Enrollment 565 517 509 494 477 461 424 420 487 513
Blythewood Academy
Square Feet 40,000 40,000 40,000 40,000 40,000 40,000 40,000 40,000 40,000 40,000
Enrollment 92 95 95 95 95 95 95 95 95 59
Bridge Creek Elementary School

Square Feet 95,105 95,105 95,105 95,105 95,105 95,105 95,105 95,105 95,105 95,105
Enrollment 597 612 607 593 583 554 593 570 605 563
Catawba Trail Elementary

Square Feet 110,771 110,771 110,771 110,771 110,771 110,771 110,771 110,771 110,771 110,771
Enrollment 481 504 527 589 609 603 611 672 525 613
Conder Elementary School

Square Feet 80,047 80,047 80,047 80,047 80,047 80,047 80,047 80,047 80,047 80,047
Enrollment 766 802 800 848 864 566 546 552 519 460
Forest Lake Elementary School

Square Feet 76,245 76,245 76,245 76,245 76,245 76,245 76,245 76,245 76,245 162,279
Enrollment 649 617 597 577 580 599 606 605 594 611
Jackson Creek Elementary School

Square Feet N/A N/A N/A N/A N/A 125,000 125,000 125,000 125,000 126,338
Capacity (Students) N/A N/A N/A N/A N/A 747 747 747 747 747
Enrollment N/A N/A N/A N/A N/A 645 704 650 531 552
136
Table 19
2013 2014 2015 2016 2017 2018 2019 2020 2021 2022
Joseph Keels Elementary School
Square Feet 78,558 78,558 78,558 78,558 78,558 78,558 78,558 78,558 78,558 81,724
Enrollment 692 691 670 699 674 551 518 505 432 448
Killian Elementary School

Square Feet 81,429 81,429 81,429 81,429 81,429 81,429 81,429 81,429 81,429 81,429
Enrollment 737 769 759 759 790 730 687 697 669 749
Lake Carolina Elementary School - Lower Campus

Square Feet 91,635 91,635 91,635 91,635 91,635 91,635 91,635 91,635 91,635 91,635
Enrollment 828 801 460 473 480 472 466 450 419 490
Lake Carolina Elementary School - Upper Campus

Square Feet N/A N/A 128,656 128,656 128,656 128,656 128,656 128,656 128,656 128,656
Capacity (Students) N/A N/A 747 747 747 747 747 747 747 747
Enrollment N/A N/A 491 478 494 480 512 501 457 545
Langford Elementary
Square Feet 110,771 110,771 110,771 110,771 110,771 110,771 110,771 110,771 110,771 110,771
Enrollment 534 525 489 501 473 453 475 478 489 616
Lonnie B. Nelson Elementary School

Square Feet 100,495 100,495 100,495 100,495 100,495 100,495 100,495 100,495 100,495 100,495
Enrollment 590 563 580 588 592 587 617 618 559 578
North Springs Elementary School

Square Feet 101,448 101,448 101,448 101,448 101,448 101,448 101,448 101,448 101,448 101,448
Enrollment 719 745 761 758 734 763 710 736 664 707
Polo Road Elementary School

Square Feet 94,830 94,830 94,830 94,830 94,830 94,830 94,830 94,830 94,830 94,830
Enrollment 619 616 646 677 691 686 686 648 602 612
Pontiac Elementary School

Square Feet 89,296 89,296 89,296 89,296 89,296 89,296 89,296 89,296 89,296 89,296
Enrollment 689 696 735 700 691 722 693 696 714 741
Rice Creek Elementary School

Square Feet 90,016 90,016 90,016 90,016 90,016 90,016 90,016 90,016 90,016 90,016
Enrollment 777 729 733 753 723 742 758 752 720 746
137
Table 19
2013 2014 2015 2016 2017 2018 2019 2020 2021 2022
Round Top Elementary School
Square Feet 97,360 97,360 97,360 97,360 97,360 97,360 97,360 97,360 97,360 97,360
Enrollment 625 657 575 579 570 560 615 610 628 671
Sandlapper Elementary School

Square Feet 94,830 94,830 94,830 94,830 94,830 94,830 94,830 94,830 94,830 94,830
Enrollment 712 711 674 684 659 653 696 655 628 668
Windsor Elementary School

Square Feet 98,973 98,973 98,973 98,973 98,973 98,973 98,973 98,973 98,973 98,973
Enrollment 660 688 744 764 745 608 574 535 530 536
Blythewood Middle School

Square Feet 127,300 127,300 127,300 127,300 127,300 127,300 127,300 127,300 127,300 127,300
Capacity (Students) 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000
Enrollment 646 699 785 764 830 833 805 838 846 794
Dent Middle School

Square Feet 198,853 198,853 198,853 198,853 198,853 198,853 198,853 198,853 198,853 198,853
Enrollment 1,317 1,257 1,200 1,217 1,234 1,246 1,272 1,274 1,187 994
Kelly Mill Middle School

Square Feet 170,546 170,546 170,546 170,546 170,546 170,546 170,546 170,546 170,546 170,546
Enrollment 925 917 922 921 912 880 897 984 1,014 983
CFA Enrollment 93 93 112 103 100 87 87 73 58 69
Long Leaf Middle School

Square Feet 150,646 150,646 150,646 150,646 150,646 150,646 150,646 150,646 150,646 150,646
Enrollment 683 665 675 720 785 772 841 865 921 795
Muller Road Middle

Square Feet 176,532 176,532 176,532 176,532 176,532 176,532 176,532 176,532 176,532 176,532
Enrollment 698 725 696 717 793 810 872 911 902 987
CFK North Enrollment N/A 96 141 193 235 260 260 257 250 256
Summit Parkway Middle School

Square Feet 149,132 149,132 149,132 149,132 149,132 149,132 149,132 149,132 149,132 149,132
Enrollment 860 877 934 976 958 987 933 902 895 901
CFI Enrollment 261 260 252 275 250 250 250 252 246 235
138
Table 19
2013 2014 2015 2016 2017 2018 2019 2020 2021 2022
E. L. Wright Middle School

Square Feet 211,982 211,982 211,982 211,982 211,982 211,982 211,982 211,982 211,982 211,982
Enrollment 1,079 1,088 1,081 1,066 1,078 1,092 1,114 1,092 1,112 1,072
CFK Enrollment 258 265 261 280 267 267 267 260 258 250
Blythewood High School

Square Feet 299,000 299,000 299,000 299,000 299,000 299,000 299,000 299,000 299,000 376,673
Enrollment 1,588 1,664 1,820 1,924 1,987 1,987 1,920 1,886 1,855 2,061
Richland Northeast High School

Square Feet 302,413 302,413 302,413 302,413 302,413 302,413 302,413 302,413 302,413 302,413
Enrollment 1,374 1,451 1,447 1,410 1,423 1,359 1,410 1,446 1,399 1,304
Ridge View High School

Square Feet 238,755 238,755 238,755 238,755 238,755 238,755 238,755 238,755 238,755 291,084
Enrollment 1,591 1,524 1,473 1,357 1,343 1,442 1,507 1,593 1,654 1,683
Spring Valley High School

Square Feet 458,812 458,812 458,812 458,812 458,812 458,812 458,812 458,812 458,812 458,812
Enrollment 1,973 1,947 2,014 1,970 2,079 2,077 2,152 2,201 2,106 2,138
Westwood High School

Square Feet 328,874 328,874 328,874 328,874 328,874 328,874 328,874 328,874 328,874 328,874
Enrollment 1,169 1,303 1,346 1,345 1,354 1,472 1,464 1,466 1,504 1,651
Total
Square Feet 4,568,193 4,568,193 4,696,849 4,696,849 4,683,349 4,808,349 4,808,349 4,808,349 4,808,349 5,037,842
Enrollment 26,533 26,877 27,325 27,607 27,872 28,056 28,359 28,549 27,873 28,406
Component Unit - Charter High School:

Charter High School
Square Feet N/A N/A N/A N/A 13,500 13,500 13,500 13,500 13,500 N/A
Capacity (Students) N/A N/A N/A N/A 200 200 200 200 200 N/A
Enrollment 69 78 98 102 108 114 114 81 39 N/A
139
Table 20
TEACHER BASE SALARIES
Statewide
Minimum Maximum Average
Fiscal Year Salary (1) Salary (1) Salary (2)
2013 $ 35,210 $ 76,598 $ 48,375

2014 $ 35,210 $ 76,598 $ 48,340
2015 $ 35,210 $ 76,598 $ 48,892
2016 $ 35,210 $ 76,598 $ 48,769
2017 $ 36,094 $ 78,129 $ 50,050
2018 $ 36,094 $ 78,130 $ 50,182
2019 $ 36,455 $ 78,911 $ 50,882
2020 $ 37,193 $ 82,067 $ 53,329
2021 $ 37,193 $ 82,067 $ 53,185
2022 $ 41,000 $ 84,708 $ 54,814
Source: (1) District records

(2) SC Department of Education and SC Revenue and Fiscal Affairs Office
140
SINGLE AUDIT SECTION
141
INDEPENDENT AUDITOR’S REPORT ON INTERNAL CONTROL OVER FINANCIAL
REPORTING AND ON COMPLIANCE AND OTHER MATTERS BASED ON AN AUDIT OF
FINANCIAL STATEMENTS PERFORMED IN ACCORDANCE WITH GOVERNMENT
AUDITING STANDARDS
To the Board of Trustees

We have audited, in accordance with auditing standards generally accepted in the United States of America
and the standards applicable to financial audits contained in Government Auditing Standards issued by the
Comptroller General of the United States, the financial statements of the governmental activities, the
business-type activities, and each major fund of Richland School District Two (“the School District”), as
of and for the year ended June 30, 2022, and the related notes to the financial statements, which collectively
comprise the School District’s basic financial statements, and have issued our report thereon dated March
21, 2023.
Report on Internal Control over Financial Reporting
In planning and performing our audit of the financial statements, we considered the School District’s
internal control over financial reporting (internal control) as a basis for designing audit procedures that are
appropriate in the circumstances for the purpose of expressing our opinions on the financial statements, but
not for the purpose of expressing an opinion on the effectiveness of the School District’s internal control.
Accordingly, we do not express an opinion on the effectiveness of the School District’s internal control.
A deficiency in internal control exists when the design or operation of a control does not allow management
or employees, in the normal course of performing their assigned functions, to prevent, or detect and correct,
misstatements on a timely basis. A material weakness is a deficiency, or combination of deficiencies, in
internal control, such that there is a reasonable possibility that a material misstatement of the entity’s
financial statements will not be prevented, or detected and corrected, on a timely basis. A significant
deficiency is a deficiency, or a combination of deficiencies, in internal control that is less severe than a
material weakness, yet important enough to merit attention by those charged with governance.
Our consideration of internal control was for the limited purpose described in the first paragraph of this
section and was not designed to identify all deficiencies in internal control that might be material
weaknesses or significant deficiencies and therefore, material weaknesses or significant deficiencies may
exist that were not identified. We identified certain deficiencies in internal control, described in the
accompanying schedule of findings and questioned costs as item 2022-01 that we consider to be a material
weakness.
______________________________________________________________________________________________

Page 2 of 2
Report on Compliance and Other Matters
As part of obtaining reasonable assurance about whether the School District’s financial statements are free
from material misstatement, we performed tests of its compliance with certain provisions of laws,
regulations, contracts, and grant agreements, noncompliance with which could have a direct and material
effect on the financial statements. However, providing an opinion on compliance with those provisions was
not an objective of our audit, and accordingly, we do not express such an opinion. The results of our tests
disclosed no instances of noncompliance or other matters that are required to be reported under Government
Auditing Standards.
The School District’s Response to Finding
Government Auditing Standards requires the auditor to perform limited procedures on the School District’s
response to the finding identified in our audit and described in the accompanying schedule of findings and
questioned costs. The School District’s response was not subjected to the other auditing procedures applied
in the audit of the financial statements and, accordingly, we express no opinion on the response.
Purpose of this Report
The purpose of this report is solely to describe the scope of our testing of internal control and compliance
and the results of that testing, and not to provide an opinion on the effectiveness of the entity’s internal
control or on compliance. This report is an integral part of an audit performed in accordance with
Government Auditing Standards in considering the entity’s internal control and compliance. Accordingly,
this communication is not suitable for any other purpose.

March 21, 2023
143
INDEPENDENT AUDITOR’S REPORT ON COMPLIANCE FOR EACH
MAJOR PROGRAM AND ON INTERNAL CONTROL OVER COMPLIANCE
REQUIRED BY THE UNIFORM GUIDANCE
To the Board of Trustees

Report on Compliance for Each Major Federal Program
Opinion on Each Major Federal Program
We have audited Richland School District Two (“the School District”)’s compliance with the types of
compliance requirements identified as subject to audit in the OMB Compliance Supplement that could have
a direct and material effect on each of the School District’s major federal programs for the year ended June
30, 2022. The School District’s major federal programs are identified in the summary of auditor’s results
section of the accompanying schedule of findings and questioned costs.
In our opinion, the School District complied, in all material respects, with the types of compliance
requirements referred to above that could have a direct and material effect on each of its major federal
programs for the year ended June 30, 2022.
Basis for Opinion on Each Major Federal Program
We conducted our audit of compliance in accordance with auditing standards generally accepted in the
United States of America; the standards applicable to financial audits contained in Government Auditing
Standards, issued by the Comptroller General of the United States; and the audit requirements of Title 2
U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and
Audit Requirements for Federal Awards (Uniform Guidance). Our responsibilities under those standards
and the Uniform Guidance are further described in the Auditor’s Responsibilities for the Audit of
Compliance section of our report.
We are required to be independent of the School District and to meet our other ethical responsibilities, in
accordance with relevant ethical requirements relating to our audit. We believe that the audit evidence we
have obtained is sufficient and appropriate to provide a basis for our opinion on compliance for each major
federal program. Our audit does not provide a legal determination of the School District’s compliance with
the compliance requirements referred to above.
Responsibilities of Management for Compliance
Management is responsible for compliance with the requirements referred to above and for the design,
implementation, and maintenance of effective internal control over compliance with the requirements of
laws, statutes, regulations, rules, and provisions of contracts or grant agreements applicable to the School
District’s federal programs.

______________________________________________________________________________________________

Page 2 of 3
Auditor’s Responsibilities for the Audit of Compliance
Our objectives are to obtain reasonable assurance about whether material noncompliance with the
compliance requirements referred to above occurred, whether due to fraud or error, and express an opinion
on the School District’s compliance based on our audit. Reasonable assurance is a high level of assurance
but is not absolute assurance and therefore is not a guarantee that an audit conducted in accordance with
generally accepted auditing standards, Government Auditing Standards, and the Uniform Guidance will
always detect material noncompliance when it exists. The risk of not detecting material noncompliance
resulting from fraud is higher than for that resulting from error, as fraud may involve collusion, forgery,
intentional omissions, misrepresentations, or the override of internal control. Noncompliance with the
compliance requirements referred to above is considered material if there is a substantial likelihood that,
individually or in the aggregate, it would influence the judgment made by a reasonable user of the report
on compliance about the School District’s compliance with the requirements of each major federal program
as a whole.
In performing an audit in accordance with generally accepted auditing standards, Government Auditing
Standards, and the Uniform Guidance, we:
• Exercise professional judgment and maintain professional skepticism throughout the audit.
• Identify and assess the risks of material noncompliance, whether due to fraud or error, and design
and perform audit procedures responsive to those risks. Such procedures include examining, on a
test basis, evidence regarding the School District’s compliance with the compliance requirements
referred to above and performing such other procedures as we considered necessary in the
circumstances.
• Obtain an understanding of the School District’s internal control over compliance relevant to the
audit in order to design audit procedures that are appropriate in the circumstances and to test and
report on internal control over compliance in accordance with the Uniform Guidance, but not for
the purpose of expressing an opinion on the effectiveness of the School District’s internal control
over compliance. Accordingly, no such opinion is expressed.
We are required to communicate with those charged with governance regarding, among other matters, the
planned scope and timing of the audit and any significant deficiencies and material weaknesses in internal
control over compliance that we identified during the audit.
Report on Internal Control over Compliance
A deficiency in internal control over compliance exists when the design or operation of a control over
compliance does not allow management or employees, in the normal course of performing their assigned
functions, to prevent, or detect and correct, noncompliance with a type of compliance requirement of a
federal program on a timely basis. A material weakness in internal control over compliance is a deficiency,
or a combination of deficiencies, in internal control over compliance, such that there is a reasonable
possibility that material noncompliance with a type of compliance requirement of a federal program will
not be prevented, or detected and corrected, on a timely basis. A significant deficiency in internal control
over compliance is a deficiency, or a combination of deficiencies, in internal control over compliance with
a type of compliance requirement of a federal program that is less severe than a material weakness in
internal control over compliance, yet important enough to merit attention by those charged with governance.
145
Page 3 of 3
Our consideration of internal control over compliance was for the limited purpose described in the Auditor’s
Responsibilities for the Audit of Compliance section above and was not designed to identify all deficiencies
in internal control over compliance that might be material weaknesses or significant deficiencies in internal
control over compliance. Given these limitations, during our audit we did not identify any deficiencies in
internal control over compliance that we consider to be material weaknesses, as defined above. However,
material weaknesses or significant deficiencies in internal control over compliance may exist that were not
identified.
Our audit was not designed for the purpose of expressing an opinion on the effectiveness of internal control
over compliance. Accordingly, no such opinion is expressed.
The purpose of this report on internal control over compliance is solely to describe the scope of our testing
of internal control over compliance and the results of that testing based on the requirements of the Uniform
Guidance. Accordingly, this report is not suitable for any other purpose.

March 21, 2023
146
SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS
LEA Pass-Through
Subfund CFDA Grantor's Total
Fund Code Fed. Grantor/Pass-Through Grantor/Program Title Number FAIN Number Expenditures
U. S. Department of Education
Direct Programs:
100 Impact Aid 84.041 N/A $ 126,457

278 Magnet Schools Assistance / MedPro 21: Healthcare for a Caring Community 84.165A U165A170064-20 N/A 2,127,284
277 Gaining Early Awareness and Readiness for Undergradute Programs
(GEAR UP) / The Midlands GEAR UP Program 84.334A P334A140210-20 N/A 554,931
279 Gaining Early Awareness and Readiness for Undergradute Programs
(GEAR UP) / The Central Carolina Consortium 84.334A P334A180036-20 N/A 2,412,604
Total U.S Department of Education Direct Programs 5,221,276
Passed Through S.C. Department of Education:

243 Adult Education / 22-Adult Education 84.002A V002A210041 H63010101022 193,100
243 Adult Education / Adult Education - Reverted 84.002A V002A190041 H63010101020 13,833
243 Adult Education / Adult Education - Reverted 84.002A V002A200041 H63010101021 5,291
Total Adult Education 212,224

201 Title I Part A / 19 Title I 84.010A S010A180040 H63010100119 234
201 Title I Part A / 20 Title I 84.010A S010A190040 H63010100120 60,651
201 Title I Part A / 21 Title I 84.010A S010A200040 H63010100121 1,776,017
201 Title I Part A / 22 Title I 84.010A S010A210040 H63010100122 4,332,206
237 Title I Targeted Support and Improvement / 20 Title I TSI 84.010A S010A190040 H63010100120 48,555
237 Title I Targeted Support and Improvement / 21 Title I TSI 84.010A S010A200040 H63010100121 139,806
Total Title I Grants to LEAs 6,357,469
203 COVID-19, Individuals with Disabilities Education Act / FY19 IDEA 84.027A H027A180081 H63010100919 252,123
203 Individuals with Disabilities Education Act / FY20 IDEA 84.027A H027A190081 H63010100920 1,000
203 Individuals with Disabilities Education Act / FY21 IDEA 84.027A H027A200081 H63010100921 1,310,337
203 Individuals with Disabilities Education Act / FY22 IDEA 84.027A H027A210081 H63010100922 3,193,300
203 Individuals with Disabilities Education Act - Private School Placements 84.027A Unknown H63010100920 26,018
212 Individuals with Disabilities Education Act - Extended School Year 84.027 Unknown H63010100921 8,886
230 COVID-19, IDEA/ARP Act of 2021 / FY22 IDEA/ARP 84.027X H027X210081 H63010ARP922 159,827
205 COVID-19, Individuals with Disabilities Education Act - Preschool / FY19 84.173A H173A180085 H63010100819 1,869
205 Individuals with Disabilities Education Act - Preschool / FY21 IDEA Preschool 84.173A H173A200085 H63010100821 111,577
205 Individuals with Disabilities Education Act - Preschool / FY22 IDEA Preschool 84.173A H173A210085 H63010100822 84,423
233 COVID-19, IDEA/ARP Act of 2021 / FY22 IDEA/ARP Preschool 84.173X H173X210085 H63010ARP822 52,247
Total IDEA Cluster 5,201,607
207 CTE (subprogram 01) / 21CTE 84.048 V048200040 H63010107121 26,773

207 CTE / 20PPE 84.048 V048200040 H63010107121 1,000
207 CTE (subprogram 01) / 22CTE 84.048A V048210040 H63010107122 2,200
Total CATE 321,715

232 Education for Homeless Children and Youth / 19 McKinney-Vento Homeless 84.196A S196A180042 H63010108919 2
232 Education for Homeless Children and Youth / 20 McKinney-Vento Homeless 84.196A S196A190042 H63010108920 37,305
232 Education for Homeless Children and Youth / 21 McKinney-Vento Homeless 84.196A S196A200042 H63010108921 31,040
224 21st Century Community Learning Centers / 19-20 21st CCLC 84.287C S287C180041 H63010006920 11,007
224 21st Century Community Learning Centers / 20-21 21st CCLC 84.287C S287C180041 H63010006919 866
224 21st Century Community Learning Centers / 21-22 21st CCLC 84.287C S287C210041 H63010006922 1,382,883
264 Title III English Language Acquisition / 20 Title III English Language 84.365A S365A190040 H63010006720 4,711
264 Title III English Language Acquisition / 21 Title III, Part A - EL 84.365A S365A200040 H63010006721 92,417
264 Title III English Language Acquisition / 22 Title III, Part A-ML 84.365A S365A210040 H63010006722 39,982
264 Title III English Language Acquisition / 19 Title III English Language
Acquisition - Title III Immigrant 84.365A S365A180040 H63010006719 3,734
264 Title III English Language Acquisition / 20 Title III English Language
Acquisition - Title III Immigrant EL 84.365A S365A190040 H63010006720 11,352
267 Title II Supporting Effective Instruction / 21 Title II Supporting Effective Instruction 84.367 S367A200038 H63010006821 502,309
267 Title II Supporting Effective Instruction / 22 Title II Supporting Effective Instruction 84.367 S367A210038 H63010006822 226,062
210 Title IV (SSAE) / 19 Title IV SSAE 84.424A S424A180042 H63010100319 28,969
147
SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS
LEA Pass-Through
Subfund CFDA Grantor's Total
Fund Code Fed. Grantor/Pass-Through Grantor/Program Title Number FAIN Number Expenditures
220 COVID-19, Elementary and Secondary School Education Relief Fund /
20 SC CARES ESSER 84.425D S425D200019 H63010497520 548,683
225 COVID-19, Elementary and Secondary School Education Relief Fund / ESSER II 84.425D S425D210019 H63010497522 4,867,232
218 COVID-19, American Rescue Plan - Elementary and Secondary School
Education Relief Fund (ARP - ESSER) / ESSER III 84.425U S425U210019 H63010497523 3,495,393
263 COVID-19, American Rescue Plan Elementary and Secondary Schools
Emergency Relief Fund - Homeless Children and Youth (ARP-HCY) /
ARP Homeless I 84.425W S425W210042 H63010HCY721 508
Total Passed Through S. C. Department of Education 24,025,642
Total U. S. Department of Education 29,246,918
(Continued)
Non-Cash Assistance (Commodities):
600 School Breakfast Program 10.553 N/A 5,145,777
602 COVID-19, Supply Chain Assistance Funding 10.555 225SC323N8903 H63010765522 556,729
600 10.555
COVID-19, Child Nutrition Emergency Operational Relief Costs Reimbursement Programs 215SC100H1703 H63010426722 655,961
600 Commodities/Food Distribution 10.555 N/A 450,145
600 School Lunch Program 10.555 N/A 11,997,659
Total National School Lunch Program 13,660,494
600 Child Nutrition Programs / Fresh Fruit & Vegetable Program / 21FFVP 10.582 215SC328L1603 H63010002121 7,024
600 Child Nutrition Programs / Fresh Fruit & Vegetable Program / 22FFVP 10.582 215SC328L1603 H63010002122 55,613
Total Passed Through S. C. Department of Education 18,868,908
Total U. S. Department of Agriculture 18,868,908
OTHER FEDERAL ASSISTANCE
292 Air Force, Army and Navy ROTC 12.000 Unknown N/A 380,583
275 Support for Student Achievement at Military-Connected Schools / Military-Connected

Local Educational Agencies for Academic and Support Programs (MCASP) 12.556 HE1254-18-1-0008 N/A 67,078
Total 12.556 361,673
Total Department of Defense 742,256
274 Cooperative Agreements to Promote Adolescent Health through School-Based

HIV/STD Prevention and School Based Surveillance / Youth Risk
Behavior Surveys 93.079 Unknown H63010016221 2,500
Total Passed Through S. C. Department of Education 2,500
Total Department of Health and Human Services 2,500

TOTAL FEDERAL AWARDS $ 48,860,582
Footnotes:
The accounting policies of the School District conform to accounting principles generally accepted in the United States of America applicable to governments.
The Governmental Accounting Standards Board is the accepted standard-setting body for establishing governmental accounting and financial reporting
principles. A summary of the more significant policies can be found in the notes to the financial statements of the School District's basic financial statements
for the year ended June 30, 2022. All expenditures reported on the above Schedule of Expenditures of Federal Awards are reported on the modified
accrual basis of accounting as applicable to governmental funds.
148
NOTES TO THE SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS
JUNE 30, 2022
Allgemein
The accompanying Schedule of Expenditures of Federal Awards presents the federal grant activity of
Richland County School District Two. All federal awards received directly from federal agencies, as well
as those passed through other governmental agencies, are included in the schedule.
Basis of Accounting
The accompanying Schedule of Expenditures of Federal Awards is presented using the modified accrual
basis of accounting, the same basis of accounting used to prepare the governmental financial
statements as outlined in the Notes to the Financial Statements.
Relationship to Financial Statements
Federal Award Expenditures are generally reported in the District's financial statements as expenditures
in the Special Revenue Funds, with the exception of the revenues for Impact Aid, which are reported in
the General Fund.
Indirect Costs
The District elected not to use the de minimis indirect cost rate of 10%.
The information in this schedule is presented in accordance with the requirements of the Office of Management and
Budget (OMB) Uniform Guidance. Therefore, some amounts presented in this schedule may differ from amounts
presented in, or used in the preparation of the basic financial statements or reported in the federal financial reports.
149
SCHEDULE OF FINDINGS AND QUESTIONED COSTS
SECTION I - SUMMARY OF AUDITORS' RESULTS
1 The independent auditor's report on the financial statements expressed an unmodified opinion.
2 There was one material weakness in internal control over financial reporting identified during the audit.
There were no significant deficiencies in internal control over financial reporting that are not considered
to be material weaknesses reported during the audit.
3 The audit did not disclose any material noncompliance matters in relation to the financial statements.
4 There were no material weaknesses identified or significant deficiencies in internal control over compliance
reported that were applicable to major programs.
5 The report on compliance for major programs expressed an unmodified opinion.
6 The audit disclosed no audit findings that are required to be reported in accordance with 2 CFR 200.516(a).
7 The major programs of the School District included in the audit were:
A. Child Nutrition Cluster - 10.555/10.555
B. COVID-19 Elementary and Secondary School Education Relief Fund - 84.425D
C. Gaining Early Awareness and Readiness for Undergraduate Programs (GEAR UP) - 84.334A
8 The dollar threshold for Type A programs for the School District was $1,465,817
9 The School District did qualify as a low-risk auditee.
150
SCHEDULE OF FINDINGS AND QUESTIONED COSTS
SECTION II - FINANCIAL STATEMENT FINDINGS
2022 - 001: Payroll-Related Prior Period Adjustment and Accrual
Condition/Criteria: Internal controls should be in place to ensure that expenditures that are incurred are properly
reflected in the annual comprehensive financial report in the appropriate period.
Context: During the fiscal year ended June 30, 2022, the School District discovered that there were 56
teachers who were underpaid approximately $294,000, with some of the underpayments dating
back as far as the fiscal year ended June 30, 2010. The School District made retroactive
payments to these teachers during the fiscal year ended June 30, 2022 totaling approximately
$120,000, as well as additional payments of approximately $174,000 in October 2022. These
payments were made out of the School District's general fund and were classified as
expenditures when paid. Of these payments, approximately $247,000 relates to periods prior
to the fiscal year ended June 30, 2022.
Effect: The School District overstated general fund expenditures by approximately $73,000,
understated accrued salaries by approximately $174,000, and overstated beginning fund
balance by approximately $247,000, for the year ended June 30, 2022.
Cause: Controls in place were not adequate to ensure that the retroactive payments to teachers were
properly reflected in the annual comprehensive financial report in the appropriate period.
Recommendation: We recommend that the School District takes steps to ensure that its processes and controls
include following up on regular teacher payroll audits to ensure that any required retroactive
payments are properly recorded in the School District's general ledger and financial
statements.
Response: The District concurs with the finding and has implemented a review procedure to ensure that
its payroll processes and controls include, at least quarterly, teacher payroll audits to ensure
proper compensation as prescribed in the district teacher salary schedule.
SECTION III - FEDERAL AWARD FINDINGS AND QUESTIONED COSTS
No matters were reported.
151
CORRECTIVE ACTION PLAN
Section II: Financial Statement Finding
Finding: 2022-001: Payroll-Related Prior Period Adjustment and Accrual
Contact Person: Harry W. Miley, Jr., Ph.D., Senior Chief Officer for Finance and
Operations, [email protected]
Corrective Action: The District concurs with the finding and has implemented a review
procedure to ensure that its payroll processes and controls include, at
least quarterly, teacher payroll audits to ensure proper compensation as
prescribed in the District teacher salary schedule.
Proposed Completion
Date: Prior to June 30, 2023
Harry W. Miley, Jr. Ph.D.

Senior Chief Officer for Finance and Operations
124 Risdon Way, Columbia, SC 29223 ~ www.richland2.org ~ 803.787-1910 152

SCHEDULE OF PRIOR FINDINGS AND QUESTIONED COSTS
There were no Findings or Questioned Costs reported in the prior year.
153

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ANNUAL COMPREHENSIVE

RICHLAND SCHOOL DISTRICT TWO

COLUMBIA, SOUTH CAROLINA

FOR THE FISCAL YEAR ENDED

JUNE 30, 2022

Baron R. Davis, Ph.D.

Harry W. Miley, Jr., Ph.D.

INDEPENDENT AUDITOR'S REPORT 11-13

Basic Financial Statements

Fund Financial Statements

Notes to Financial Statements 34-68

Other Supplementary Information

Debt Service Fund

Capital Projects Fund

Other Supplemental Schedules Required by State Department of Education

Independent Auditor's Report on Internal Control Over Financial Reporting and

Schedule of Expenditures of Federal Awards 147-148

Notes to the Schedule of Expenditures of Federal Awards 149

Schedule of Findings and Questioned Costs 150-151

Corrective Action Plan 152

Schedule of Prior Year Findings and Questioned Costs 153

To the Board of Trustees and Citizens of Richland School District Two:

Profile of the School District

The District is a political subdivision of the State of South Carolina.

124 Risdon Way, Columbia, SC 29223 ~ www.richland2.org ~ 803.787.1910

Long-term Financial Planning

124 Risdon Way, Columbia, SC 29223 ~ www.richland2.org ~ 803.787.1910

Awards and Acknowledgements for 2021 – 2022

Richland Two named 2021 K-12 DIVE District of the Year

Best in State - Spring Valley JROTC Drill Team

124 Risdon Way, Columbia, SC 29223 ~ www.richland2.org ~ 803.787.1910

State 4A Track Athlete of the Year – Brianna Rodriguez – Westwood High

State Basketball Champions – Ridge View High’s Varsity Boys’ Basketball

124 Risdon Way, Columbia, SC 29223 ~ www.richland2.org ~ 803.787.1910

2022 ASCD Whole Child Award - Ridge View High

COGNIA’s STEM Certification – Westwood High

2021 National Blue Ribbon Beacon School – Polo Road Elementary

Superintendent Dr. Baron Davis

124 Risdon Way, Columbia, SC 29223 ~ www.richland2.org ~ 803.787.1910

Harry W. Miley, Jr., Ph.D.

124 Risdon Way, Columbia, SC 29223 ~ www.richland2.org ~ 803.787.1910

MEMBERS OF THE BOARD OF TRUSTEES

The Honorable Teresa Holmes, Chair

The Honorable James Manning, Vice Chair

The Honorable Amelia McKie, Secretary

The Honorable Lindsay Agostini

The Honorable Cheryl Caution-Parker

The Honorable Monica E. Scott

The Honorable Lashonda McFadden

Baron R. Davis, Ph.D.

Harry W. Miley, Jr., Ph.D.

Richland School District Two

For its Annual Comprehensive

June 30, 2021

Richland School District Two

The district report meets the criteria established for

William A. Sutter David J. Lewis

Honorable Chair and Members of

Basis for Opinions

Responsibilities of Management for the Financial Statements

(Continued next page)

WEST COLUMBIA ROCK HILL

Auditor’s Responsibilities for the Audit of the Financial Statements