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Piedmont Community Charter reports $716,251 surplus for August and $6.46 million cash on hand
Summary
Treasurer LaBarbara presented the August budget report showing $19.82 million in revenue, $19.10 million in expenses and a reported cash-on-hand total of $6,456,644.66; projected available cash for June 2026 was reported at $3,831,005.18 after accounting for restricted holdings.
At the Sept. 16 board meeting, the board’s finance presenter, identified in the meeting as LaBarbara, reported the August budget numbers: total revenue of $19,820,816.34, total expenses of $19,104,565.04 and a net surplus of $716,251.30 for the fiscal period presented.
LaBarbara reported cash and investment balances across accounts. The presentation listed operating and investment account balances that together produced a reported total cash on hand of $6,456,644.66. The presenter described an expected cash-and-investments position as of June 30, 2026, of roughly $7.01 million, and after subtracting amounts held in the school’s PNC investment account reported an expected cash available as of June 2026 of $3,831,005.18.
LaBarbara also read balances held in US Bank accounts: $298,393.03 in the bond fund, $1,794,014.99 in the debt service reserve fund and $84,079.77 in the repair-and-replacement account, for a reported total of $2,176,487.79 held at US Bank.
The finance report was received as informational; no budget amendments or board votes on finance items were recorded at the meeting. Board members present did not raise objections during the report.
The presenter spoke quickly through some line-item decimals during the oral report; board staff should be consulted for the official accounting statements if exact cent-level verification is required.
