Lake Norman Charter board approves budget amendment, Huntersville joint-use amendment and handbook updates

Lake Norman Charter’s Board of Directors at its May meeting approved a set of administrative changes and one-time budget updates, voted to amend a joint‑use agreement with the Town of Huntersville covering new tennis courts and related upkeep, and adopted revisions to the student handbook and a proposed additional core value for the school’s Portrait of a Graduate.

The finance update and approval of Budget Amendment No. 2 led the meeting. Miss Wilson (finance staff) told the board the school’s balance sheet shows roughly $16.3 million in assets, about $60,000 in payables and about $14.9 million in equity. She said year‑to‑date revenue through March was about $20 million and expenditures about $14 million, with capital expenditures and debt service of just over $2 million; netted against timing effects, the school reported an approximate $2.3 million surplus as of March and a projected net change in fund balance for the year of about $604,000. “We did receive growth funding from the state,” Miss Wilson said, adding the school also collected E‑Rate funds, an SRO grant, and state teacher bonuses and earned interest income after shifting operating cash into a money market account.

Why it matters: the amendment reflects roughly $1.6 million in net changes from Amendment No. 1, most of which the finance presenter described as one‑time or timing‑driven receipts and reimbursements (bond reimbursements, ERC receipts and related interest). Miss Wilson said any major changes will be brought back as Budget Amendment No. 3 when the fiscal year is closed.

Votes at a glance - Budget Amendment No. 2 — Motion to approve moved by Amy (board member), seconded by Nicole (board…