Prestige reports strong reserves; school highlights graduation and student success

Prestige, the school's financial adviser, told the Richland 1 Middle College Board on May 13 that the school is in a strong financial position and that key metrics through April 2026 show adequate reserves.

In a financial presentation the adviser said total cash is just under $2.0 million, which they described as approximately 414 days cash on hand — well above standard benchmarks — and noted operating cash dipped under a $250,000 threshold, addressed in part by a $61,000 wire. The presenter said salaries and benefits are about 63% of total revenue and that net income through April was about $338,000. Overall, the presenter characterized the school's finances as stable with no major red flags.

Why it matters: healthy reserves give the charter school flexibility for programming and staffing decisions as it finalizes the FY27 budget. Board members had no follow-up questions after the presentation.

School updates and events: Dr. Brabham reviewed spring activities — about 35 science students visited the Riverbanks Zoo on May 1, students completed virtual essay exams, and multiple students earned certificates or associates degrees at recent graduations. The school-wide graduation is scheduled for May 26 at 11:00 a.m. at the Columbia Metropolitan Convention Center; senior-clearance and senior-week events were also noted. Dr. Brabham read a note from a junior praising the school: 'This school has reminded me that I love school, and I love learning,' a message the administration identified as the day's mission moment.

Logistics: the board discussed regalia and parking for board members and VIP/stage guests at graduation; administration recommended arriving before 10:30 a.m. and using designated Richland 1 parking spaces at the convention center. The board also set its next meeting for June 10 (Teams) and noted the June meeting is typically in person on campus.