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Piedmont Community Charter reports December surplus, projects $4.1 million available cash
Summary
The board heard a treasurer's report showing December revenue of $1.808 million, expenses of $1.482 million and an expected cash available position of $4,096,427.20; the board received the report with no further action required.
The Piedmont Community Charter School Board received a December financial report showing a monthly surplus and a multi-million-dollar cash position, Treasurer/Speaker 4 reported Jan. 20.
Speaker 4 summarized the month: "The total revenue for the month was $1,808,419.90 minus the expenses for the month, which was $1,482,404.21, giving us a net surplus after our investment of $340,970.06." He also gave account balances: operating account $2,973,616.67; student activities $166,905.01; investment account (fair market value) $3,314,736.95; petty cash $1,000 — for total cash of $6,456,258.63. After accounting adjustments and fund balance appropriations, Speaker 4 said the expected cash available figure is $4,096,427.20.
Speaker 4 noted the year-to-date position still shows a small deficit that he expects to balance as funding arrives monthly, and he provided additional detail on US Bank-held funds, including a bond fund balance of $227,656.02 and a debt service reserve fund of $1,794,000.
No board action was required; the treasurer's report was presented for the record and for board review.
Provenance: Treasurer's report begins at SEG 073 and continues through SEG 111.
