GGA Graduation: Friday, June 5

June GGA Board meeting: Tuesday, June 23 at 6:30pm via Zoom

ED REPORT

ASPIRE 

• GGA ASPIRE Projection Tool (Q3)
• GGA ASPIRE Dashboard (AY24-25)
• ASPIRE Results for GGA AY24-25

Community Engagement Report

Enrollment report - as of May 8

Hello Community Engagement Committee,

The GGA Enrollment team has been working really hard to enroll students. Please see the 26 - 27 Enrollment tracker to monitor our enrollment numbers.  

As of May 4, 2026 we were 56% total enrolled.  Compared to last year, GGA had 48% of students enrolled.  Points of significance:

• 46% of current students have re-enrolled
• 11% of eligible re-enrollment students have withdrawn earlier in the year or have provided a verbal statement of not returning
• 25 pending applications overall (the parent has started the application process) and an additional 15 applicants still deciding
• 149 potential applications left to enroll

We met our goal to have 50% of new and current students enrolled by May 8.  The next goal is to enroll 75% of students by May 15.  

In an effort to inform our FY27 Budget, we made a number of adjustments to our EOY projections. All the adjustments are based on our best estimate of both revenue and expenses at year end. I'm thrilled to report on our very strong anticipated EOY cash position. 

Highlights

End of Year Days of Cash: 138 (Budget 107)

End of Year Cash Balance: $2.45M (Budget: $1.69M)

DSCR: 9.29 (Budget 2.91) 

Revenue

• $89k increase 
  • $101k increase in Per-Pupil funding from our final student count and Supplemental payments
  • $9k increase in Federal Revenue - Perkins Grant mainly offset by Title funds pushed to FY27 and a slight reduction in Medicaid and E-Rate estimates
  • $13k decrease in Private Grants & Donations to align with EOY estimates
  • $5k increase in Earned Fees due to bank interest
  • $10k decrease in Rental Revenue - to remain more conservative

Expenses

• $23k decrease in overall staffing costs based on current staffing 
• $24k decrease in Occupancy costs based on building needs/trends
• $7k decrease in Direct Student expenses  as we adjust to actuals/anticipated needs
• $77k decrease in Office & Business primarily due to our consulting contracts

Debt Disclaimer: We currently have a balloon payment of $1.8M scheduled for June 2027. We intend to seek a 2-3 year loan extension from OSSE beginning next December. In the meantime, we continue working towards building out our cash reserves. This year we project increasing our cash position by over $0.7M.

#1 Thank you for your patience as we incorporated the many different inputs needed to create the most accurate budget projections for next year. Attached, please find our assumptions, summary, as well as income statement and balance sheet for your review. We believe this budget provides the academic and cultural support required to meet our ASPIRE metrics, while allowing us to continue working toward paying down our debt.  Although we project a negative net income next year, we will have a positive operating income and positive cash growth. We are not projecting to pay down the loan in this current iteration. That said, our $2.5M year-end cash balance secures the underlying funds to do so (if needed). 

#2 Please see the attached file projecting a full loan payout at the end of next fiscal year. Although we do not plan to submit this budget to OSSE and the PCSB, we will continue working toward our goal of building out cash for our balloon payment.

Board Resolution Request of a Credit Enhancement Letter from OSSE

Google Sheet

GGA Board Financial Policies for review for June Board Meeting

Draft Revised Bylaws

Memo Explaining Revisions

• June Board Meeting
• Events at GGA
  • Graduation is Friday, June 5
  • As we prepare to commemorate this important milestone, GGA is launching the “Class of 2026 Graduation Campaign” with a fundraising goal of $2,000. This campaign will help support graduation celebrations, student experiences, and programs that continue to empower scholars across our school community.