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Piedmont Community Charter reports year-end surplus, details cash position and capital projects
Summary
Treasurer reported May financials showing roughly $1.69M in revenue, about $1.49M in expenses, a pre-investment surplus near $199,000 and an after-investment surplus near $311,000; board heard account balances and approved continuing facilities work.
The Piedmont Community Charter Board received its year-end finance report and an update on campus capital work during its annual meeting.
The treasurer presented May financials, reporting about $1.69 million in revenue and roughly $1.49 million in expenses, producing a pre-investment surplus of approximately $198,993 and an after-investment surplus of about $311,289. The treasurer said the operating account held about $4.57 million, the student activities account about $164,128 and the investment account (fair market value) about $3.57 million, for a combined fund balance in the mid‑$8 million range across accounts. The treasurer outlined an anticipated cash position as of June 30, 2025, and noted amounts held in the PNC investment account and US Bank bond/debt reserves.
A finance committee member noted the committee purchased an off‑site property referred to as an 'open street house' to create space for remediation teachers and instructional support staff. Board members also confirmed that painting and flooring projects at the elementary and middle campuses are underway and, per the facilities update, remain within previously approved budgets despite using some contingency funds.
The facilities update included completed work from the prior year (a middle‑school roof project) and upcoming planned replacements of two HVAC systems at the elementary campus. Committee leaders said they maintain a 10‑year needs list to prioritize future projects.
No formal external funding sources or statute citations were introduced during the finance presentation. The board took no direct policy action on the budget figures at this meeting beyond accepting the report.
The treasurer’s report and facility updates close out the fiscal year planning ahead of the next board meeting scheduled for Aug. 18.
