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Lake Norman Charter board approves budget amendment to cover gym repairs, salary changes and capital timing shifts
Summary
The board approved a budget amendment to cover timing-shifted capital bills, the gym-floor insurance deductible and modest salary-schedule increases; finance presented Oct. 31 financials and projected a net surplus after adjustments.
Mrs. Wilson, the finance presenter, told the board the school’s October 31 financials showed about $15,300,000 in assets, most of it cash, and about $6.8 million in revenue against $5.9 million in expenditures as of that date. She described timing differences that moved some planned FY25 spending into FY26 and said the budget amendment would accommodate those charges and the gym-floor insurance deductible.
Wilson outlined compensation…
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