A new liability account was added to record the excess MFP being paid on 565 students vs 520 actual student count.  Adjustments to MFP due to February student count are expected to be minor.

The adjusted budget reflects the projected MFP based on 520 students.

KPIs are in line with expectations.

 

Adjusted budget revenues reflect projected 520 student count.  The budget handout was revised to include the budget originally adopted by the Board.

Revisions to salaries -- DIrect classroom instruction has not been affected by budget revisions.  Mostly administrative and custodial.

Other revisions to expense categories were discussed.  SW explained that the budget for expenses such as object code 600 was revised based on prior year expenses and current year operations such as using additional technology. 

The projected column should represent actual amounts for 2017-2018.

AT suggested that the administration add a percentage variance column to highlight material variances against the originally adopted budget.  DD will make the change for presentation to the Board.

SW explained that IHSNO funds are secured by Hancock Whitney collateral up to $1.25M

Edits will be made to the report to show the total value of grants being prospected, but not itemized by grants.

Most grants in preparation are expected to be awarded in January.  Pro Bono is sometime between January and prior to Mardi Gras.
 

AT, SW, KK, LL, and MS met with OPSB.  We are trying to understand the extent of improvements needed to the building and how that will be funded.  School Board members expressed confidence and support of IHSNO and commitment to maintaining our downtown campus.
We learned that OPSB has tools and resources that can be leveraged which may not require the school to take a facility study on alone.  OPSB is currently procuring architectural services for facility assessments with which we may be able to collaborate.
SB mentioned that she is aware of an outstanding OPSB RFQ and asked whether there can be a targeted approach to focus specifically on IHSNO.  AT shared that this is a possibility.  The OPSB contract is expected to be in place by first quarter of next calendar year.
SB asked how we provide OPSB with our requests to ensure task order is issued to meet our needs.  AT explained that this requires further consideration and that we will need scoping guidance from an independent third party.  We will need to understand the process more fully before moving forward.
We will need to define goals and assess the timeline for items to be addressed on a granular level.
SW explained an additional advantage of working in conjunction with OPSB is that OPSB has specific requirements for compliance in their buildings.
We need to better understand the financing options available to us.
No motion will be brought to the Board at this time, pending further information.

The committee is making good progress toward its goals.  No revisions are needed at this time.

No change to dates