To comply with Section 1.43 of Part I.B of the Appropriations Act of 2009 (Act No. 23 of 2009), Lexington Richland School District Five is posting monthly non-salary expenditures. Act No. 23 is also referred to as School District Expenditure Transparency. A monthly online posting of all non-salary expenditures over one hundred dollars will be posted on this site. In addition, a monthly posting of statements from all purchasing cards maintained by School District Five will be posted.
Expenditures reported on this site account for the use of funds from other sources, in addition to funds received from local, state, and federal tax sources. The information below categorizes the expenditure type by the beginning account number.
GENERAL FUND: FUND SERIES 100
Any account beginning with a “1” represents local and state tax dollars.
The General Fund is the basic budgetary fund of the School District. It is used to account for all financial resources except for those required to be accounted for in another fund. All property taxes, intergovernmental revenues, and miscellaneous revenues are recorded in this fund. Operational expenditures for general education, support services and other departments of the district are paid through the General Fund.
SPECIAL REVENUE FUND: FUND SERIES 200, 300, 800, OR 900
Any account beginning with a “2,” “3,” “8,” or “9” represents state, federal or grant dollars.
The Special Revenue Funds account for the proceeds of specific revenue sources (other than expandable trusts or major capital projects) that are legally restricted to expenditures for specified purposes. The School District has the following Special Revenue Funds:
- Special Projects Fund consists of multiple special revenue funds used to account for all federal, state and local projects and grants except for those subject to EIA.
- Education Improvement Act Fund accounts for the proceeds of the additional one percent Sales and Use Tax that is restricted to expenditures for the Education Improvement Act standards.
CAPITAL PROJECTS FUND: FUND SERIES 500
Any account beginning with a “5” represents construction dollars.
The Capital Projects Fund is used to record proceeds from the sale of long term general obligation bonds and other revenues used to acquire or construct major capital facilities.
ENTERPRISE FUND: FUND SERIES 600
Any account beginning with a “6” contains no local or state tax dollars.
The Enterprise Fund accounts for operations that are financed and operated in a manner similar to private business enterprises where the stated intent is that the costs of providing goods or services to the students or general public on a continuing basis are financed or recovered through user fees.
- School Food Services: To provide balanced nutritious meals to the School District’s students.
- After School Program: To provide after normal school hours programs for elementary students at some of the elementary schools.
FIDUCIARY FUND: FUND SERIES 700
Any account beginning with a “7” represents fees paid by students, parents, and staff for student activities.
The Fiduciary Fund accounts for assets held by the District in a trustee capacity or as an agent for individuals, private organizations, other governmental units, and/or other funds. These funds are purely custodial and do not involve measurement of results of operations.
- Pupil Activity Fund: To record the receipts and disbursements of monies from various student organizations. These organizations exist with the explicit approval of the Board of Education. The approval may be revoked. The fund accounting reflects the School District’s agency relationship with student activities organizations.
To view Expenditures for a specific school year use the panel on the left.
