The Anchor School
Minutes
Finance Committee Meeting
Date and Time
Tuesday May 20, 2025 at 7:00 PM
Location
Google Meet joining info
Video call link: https://meet.google.com/cda-nvij-adm
Or dial: (US) +1 401-526-8575 PIN: 612 382 123#
Committee Members Present
J. Whittington (remote), S. Kollu (remote), V. Thompson (remote)
Committee Members Absent
C. Humphrey
Committee Members who arrived after the meeting opened
J. Whittington
Guests Present
B. Hines (remote), Brittany Clay (remote), J. Pinto Taylor (remote), M. Felts (remote)
I. Opening Items
A.
Record Attendance
B.
Call the Meeting to Order
V. Thompson called a meeting of the Finance Committee of The Anchor School to order on Tuesday May 20, 2025 at 7:09 PM.
C.
Approve Minutes
V. Thompson made a motion to approve the minutes from Finance Committe Meeting on 05-10-25.
S. Kollu seconded the motion.
The committee VOTED unanimously to approve the motion.
II. Head of School and CFO Updates
A.
Enrollment Updates and Reporting
- 299 enrolled for next year. Highest growth rate YOY to date
- 7th and 8th have the highest percentage
- 336 is target enrollment, 311 submitted for projection
- Need to think through revenue planning FY26
- New applications and tours continue
- Student class information needs to be reported in June
III. Budget Planning
A.
FY26 Draft Budget Detail Review
- Reviewed list of questions line-by-line
- Discussed major changes in revenues and expenses
Action Items
- EdTec to review 3 priority asks and provide feasibility to FC
- EdTec to provide growth rates for high level categories
- J. Pinto-Taylor to share performance based bonus model with FC
B.
Budget Hearing Prep
- Desire to present budget to public in format that is easily digestible by public and non-financial stakeholders
- V. Thompson shared template and suggested content with team
Action Items
- J. Pinto-Taylor, EdTec, and B. Hines to finalize budget overview deck
- J. Whittington to present budget overview at public budget hearings
IV. Monthly Financial Review
A.
April Financial Updates & Dashboards
- Improvement of many dashboard items to "green" status
- B. Clay led efforts to code uncategorized revenue
- Approved Budget/Forecast vs. Current Forecast
- slight decrease in operating income vs. previous forecast
- Monthly Cash Balance & Projections
- Projected to end FY25 with 50 Days Cash on Hand
- QBE true-up improves last quarter cash position
- Future Cash Inflows: projected $300K CSP reimbursements, May-June
- Grant Dashboard
- Title I: drawdown in process, 85% drawndown.
- Title II: drawndown complete
- Title IV grants: drawndown complete
- IDEA Grant: drawndown complete
- IDEA Capacity Building Grant: budgeting in progress
- Parent Mentor Grant: drawdown in process, 28% drawndown
- CSP Grant: In Progress, 10% drawn down overall
- FY25 Key Measures Dashboard
- Highlights: Donations, Uncategorized Revenue & Expenses, Year-End Fund Balance
- Areas to Monitor: CSP Total Reimbursed, Days Cash on Hand
- Areas to Improve: Expense Variance
- FY25 SCSC Dashboard
- "Meets Financial Performance Standards" with 90 points as of April 2025
- Areas to Monitor: Unrestricted Days Cash
V. Closing Items
A.
Adjourn Meeting
J. Whittington made a motion to Adjourn Meeting.
S. Kollu seconded the motion.
The committee VOTED unanimously to approve the motion.
There being no further business to be transacted, and upon motion duly made, seconded and approved, the meeting was adjourned at 8:08 PM.
Respectfully Submitted,
V. Thompson
J. Whittington arrived.
Documents used during the meeting
- FY26_Draft-Budget_051625.pdf
- FY26 Budget Asks & Questions.pdf
- FY25_2025-04_Financial-Dashboard-Presentation_April_051625.pdf