990 submitted to Board Chair (Thomas) for review and signature.  Thomas working with school leadership to make a few minor edits/clarifications.  Anticipate having this completed by the end of the week.

Ms. Davis reviewed the 10/31/20 statements with the committee.  Page 4 highlights items of significance.  The school has continued to purchase/provide PPE for individuals who continue to work in the school.  The school has been able to replace water fountains with touchless water bottle filling stations. 

The school continues to work through the process to convert the PPP loan to a grant.  Currently under review by the SBA. 

There are a variety of federal grants that have provided or will provide additional financial support to the school.  WIA has sought about 65% of the CARES funding for reimbursement.  Additional reimbursements will be submitted in coordination with federal and state guidance.  

Lisa reviewed the QBE funding mechanism for the group. First estimate usually happens in July from APS.  The next milepost occurs after the October date count.  The school subsequently sees a mid-year revision in November/December based on the October counts.  After the last FC meeting, the school received additional information that is above expectations on the mid-year revisions.  Schools are working to understand the cause of the fluctuations.  There is a new contact who is handling these calculations as of a year ago.  Lisa will work in the days ahead to better understand the variances.