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SC Public Charter School District approves August financial report showing small year‑to‑date shortfall
Summary
Trustees approved the district—s August 2025 financial report showing roughly $36 million in revenue and expenditures through Aug. 31 and a small net loss; staff said enrollment updates in September should increase revenue.
Trustees of the South Carolina Public Charter School District voted Oct. 9 to approve the August 2025 financial report after a presentation from district finance staff.
Nick Michael said the district had received ‘‘over $36,000,000 in revenue, with total expenditures of over $36,000,000,’’ yielding a year‑to‑date net loss of just over $108,000. He told the board that district office–only figures for August showed about $469,000 in revenue against roughly $581,000 in expenditures, for a month‑level net loss of about $111,000. Michael said those early‑year deficits reflect the common practice of front‑loading expenditures and that a five‑day membership update in September would increase revenue and reduce the net loss in next month—s report.
Michael said the district—s estimated fund balance decreased from $3,000,000 to just under $2,900,000 after the August figures. He also reviewed departmental budgets and noted that the state allocation document lists about $257.9 million in calculated funding, with roughly $254.3 million under the state aid to classrooms line.
A trustee asked for clarification about the front‑loaded expenses; Michael cited prepayments for software (Epicenter, about $94,000) and accounting software (about $35,000) as examples. After discussion, a trustee moved to approve the August 2025 financial report, a second was given and the motion carried.
