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Union Academy outlines finances, audit and fund balances during board presentation
Summary
Union Academy presented audited finances, enrollment and budget allocations to county commissioners, reporting an unqualified FY2024 audit and school/foundation fund balances of roughly $14.5 million and $11.88 million respectively.
Union Academy representatives briefed the Union County Board of Commissioners on the charter school's finances, audit status and fund balances during a June 2 session the county arranged to provide transparency about how local per‑pupil funding is used by charter schools.
Head of School Lisonbee Simpson introduced CFO Dave Fouts, who detailed Union Academy’s three primary revenue sources: state funds (the largest share), federal grants and a local pro rata share tied to county students under North Carolina law. Fouts said local per‑pupil (LEA) revenue accounts for about 24% of Union Academy’s…
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