PCSD financial, legislative and operational updates: January finances, staffing for external affairs and IT, and internal risk assessment

At the March 13 meeting, South Carolina Public Charter School District finance and operations staff updated trustees on January finances, legislative developments, organizational staffing, and a new internal risk-assessment tool for school finances.

Finance director Nick Michael told trustees that through Jan. 31 the district had received about $117.8 million in revenue and incurred roughly $117.7 million in expenditures, producing a net gain of approximately $90,169 for the period. He also said the district office recorded about $488,000 in revenue and $434,000 in expenditures for January, increasing the beginning fund balance by $100,809 for the fiscal year. Michael said approximately 97.44 percent of the district's state revenue allocation is categorized under state aid to classrooms.

Michael requested board approval of the January financial report; trustees moved, seconded and approved the report by voice vote. Michael also said the district is beginning the FY2026 budget season and will present the first budget reading at the April board meeting.

The board heard from Brad Henry in external affairs about several legislative developments, including that two pieces of education legislation had passed both chambers so far in the 2025 session (one an ESA voucher bill that still requires reconciliation between House and Senate changes, and one bill granting excused absences for students participating in FFA or 4-H). Henry said PCSD and legislators are pursuing a study committee on charter school transportation and that legislation to allow a military preference in charter enrollment (to permit preference for children of active-duty military stationed in South Carolina) had passed the House and advanced in the Senate.

Superintendent Chris Neely outlined operational priorities, including plans to bring PowerSchool and data services in-house after having relied on an out-of-state vendor. Neely said doing so will increase district control and accountability for data and IT services. He also celebrated partner engagements and fundraising at Liberty STEAM Charter School and emphasized the district’s commitment to accountability and stewardship of public funds.

Financial services staff presented a new internal risk assessment (IRA) tool developed to rate school financial performance using audited metrics (examples include days cash on hand, audit findings, compliance with required fund-balance minimums and whether a school met prior-year instruction-per-base-student cost). Applying the tool to 2023–24 data, staff reported that six schools rated high risk, eight rated medium and 25 rated low; staff said they will target support for schools with medium and high risk scores and compare financial risk to academic performance.

PCSD’s support team also provided a brief overview of federal Title II allocations for FY25 (district-level allocation $528,000) and noted continued partnerships with NIET (National Institute for Excellence in Teaching) and other instructional supports.

Provenance: Topic intro: transcript block starting at 6719.6104 — "Thank you. Good morning, madam chair and board members. At the January..." (topicintro) Topic finish: transcript block starting at 8123.15 — "Good afternoon." (topicfinish)