Chiquetta West provided an update on the school's financial performance, revenue and expenditures through April 30, 2023. 

The committee discussed the status of CARES/ESSER funding reimbursements from APS. The Business office has remained in constant contact with APS, but the delay from submittal or reimbursement requests to receipt of funds has been a period of several months, and continues to be delayed. 

The committee discussed the status of delinquent accounts in aftercare and nutrition programs. Despite increased efforts, including direct email and updated account balances available to families and staff, the amount of delinquent accounts remains higher than anticipated. 

Staff received a bonus in April. Any outstanding balances were deducted from the bonus amounts. 

The committee discussed the planned installation of a turf field in the lower recess area of the EC. Jim Kessenich has engaged contractors around timing, but it is unlikely the project can be undertaken this summer due to timing constraints and uncertainty around the CARES funding. 

The umbrella insurance policies for both campuses are under review and will be renewed by the end of the fiscal year. 

Chuck Meadows provided an overview of the expansion opportunity that the board has been reviewing. The full board approved expenditures for earnest money to enter into a purchase and sale agreement, as well as a feasibility study which will be reviewed at the May 18th meeting. Staff has incurred further legal fees, estimated at less than $5,000, but the exact amount is not known as the invoice has not been received. 

Chuck Meadows reported that SouthState Bank has been reviewing the school's financial records, along with the terms of the purchase and sale agreement to provide a high level term sheet prior to the May 18th board meeting.