Jethro,

July 31, 2023, our cash position is 57,908 and 80, 000 in the anybill clearing account. resulting in a total cash and cash equivalent balance of 650, 908

45 days of cash in hand, 65 days when considering our line of credit, 

We are projecting a net income of $3000, 

These favorable financial outcomes are due to 

additional title 1 federal revenue allocation

Additional title 2 federal fund allocation

Financial audit process the week of September 25, 2023.

45 days of cash at year-end, want to be at 60 days 

Revenue budget 7m

Expenses budget 7m

Revenue is driven by additional Title I and Title II allocations

Expenses decrease is driven by changes in

Staff and staff-related expenses.

Cash flow adjustment is driven by expected deferred revenue from NOLAPS

45 days we forecast the school's year-ending cash balance as of cash  860K, 50K above budget.

Salaries - behavior interventionist extra salary

The state will be distributing funds to address recruitment and retention needs.

The finance committee and ultimately the Board will approve the stipend distribution plan.

The state will be distributing funds to be provided to certification and support staff in the form of stipends in the following. 

$1000 stipend for school personnel listed as support

$2000 for certificated teachers. 

The school is working on a plan that will be subject to approval by the finance committee and ultimately, the board.

The worker's comp audit is completed. Amtrust is our agent.

The financial audit is beginning the week of September 27, 2023

Karen put together a checklist.

For the annual financial report - the secretary of state adopted the operation budget

October- confirm student counts- for the funding, worker's comp audit,  and quarter financial reports are submitted to the state.

Bernard and Franks- Does our Audit. 

 How development helps us meet our financial goals. 

Development and Financial- 

Goals 

Total student enrollment

grant revenue

event revenue

donation revenue

development contact data collection 

great PR on Barnes

SWOT

weakness:

• Grants and Data are controlled by contracts.
• Dev/Comm Plan misaligned with financial needs & School population
• Lact of impact Data
• Have more engaged Alumni data to see where our students are doing in our community.

Threats:

• Charter renewal
• declining students population
• declining teacher workforce
• unfunded legislative requirement

Our funds come from 

state  and local revenue 70%

Federal Revenue 27%

Earned income 2%

GAP 1%

Variable affecting revenues received

Student count

Special education

Allowable expenses 

The responsibility of the Board 

to ultimately be held accountable to the charter authorizer for the school's academic performance, financial health, and compliance with applicable laws and regulations.

2023.24

Ensure IHSNO is financially solvent by F24 year to end

End FY24 with 10K additional in reserves

Increase enrollment to 425 for SY24-25

focus area: 

reframe grant seeking from project-based small grants to larger multi-year operating support

development of a consistent brand message highlighted that IHSNO's community impact and return on investment

maximized state and federal grant allocations to ensure all allowable expenses are captured for reimbursement

plan to target student recruitment and early engagement opportunities to retain families

2023.24 goals for enrollment of 400 students 

3 Open house -Nov, Dec, Jan

High School fairs - MS and HS  coordinating some engagement

Our first school  fair to attend is  tomorrow November 9/28

Volleyball on Thursday at 4 pm 

Farm to school grant- $15000, agricultural opportunity.

Teacher Morgan Rae attended the conference at the Farm to school 

Hispanic Heritage Celebration on Friday 9/29

Percy- please reach our to the BESE board members to tell about our school.