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Lake Wales Charter reports $3.5M year-to-date surplus; food service posts October surplus
Summary
Board reviewed October financials showing assets of about $50.4M, liabilities ~$21.3M, student count 5,035, revenues of ~$16.7M, expenditures of ~$13.1M (YTD surplus ~$3.5M); food service returned a $460,377 surplus for October after receipts arrived.
The Lake Wales Charter Schools Board reviewed and approved its October financial report during the Nov. 17 meeting, with staff reporting overall stable finances and positive month-to-date results.
Chief financial presenter Mr. Smith said consolidated assets increased about $207,362 to approximately $50.4 million while liabilities rose to about…
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