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PCSD board accepts September financial report and receives audit update; superintendent reports 32 letters of intent
Summary
Trustees approved the September 2025 financial report and heard that the FY25 draft audit returned an unmodified opinion and a general fund balance increase. Superintendent Neely reported 32 letters of intent for new-charter applicants and staff updates on data systems and report-card performance.
At its Nov. 20 meeting the South Carolina Public Charter School District board approved the September 2025 financial report and received an audit update.
Nick Michael, deputy superintendent of financial services, said the district was at 72.87% of the general fund approved budget at the September reporting point (the guideline expectation is 75%). He reported about $55 million in revenue and similar expenditures year to date, producing a small net loss driven by front-loaded expenses; October results were expected to move the year back into positive net position. Michael said the district office recorded roughly $519,000 in revenue and $465,000 in expenditures for a monthly net increase of about $53,000.
Michael also reported the districts draft FY25 audit showed a clean, unmodified opinion with no audit findings; the audit noted a general fund balance increase of about $944,000 to $3.4 million (about eight months of operating expenditures), which meets the statutory one-month fund-balance requirement. Michael said the states compliance supplement is pending and the district will submit a final audit once it is released.
Trustees moved, seconded and approved the September financial report by voice vote.
Superintendent Neely updated the board on a large pool of interest in new charters: PCSD received 32 letters of intent to apply to the district this season, the most since 2020, and staff have hosted pre-application training. Neely said applications will be due Jan. 30, 2026, following a schedule change. He also described deployment of ClassLink and other state-required data systems, ongoing staff training, and the districts focus on improving math performance where PCSD currently trails the state.
Board members asked whether unsatisfactory schools were repeat cases; Neely said the mix included repeat unsatisfactory ratings and new downgrades and that none of the schools were in a third consecutive unsatisfactory year. Trustees pressed staff on supports, and Neely and deputies described collaborative data dives, goal-setting, and targeted visits to support schools.
The meeting closed with other operational updates and recognitions; trustees adjourned and invited attendees to a Thanksgiving reception.
