• The finance committee commits to ensuring 60-120 days of cash on hand by June 2025. Off-Track
• The finance committee will review and approve necessary audit periods. (December) On- Track
• The finance committee commits to staying between 20%- 40% of proportion of assets financed. On-Track

• Month Ended April 30, 2024 with 4 Days Ending cash Balance $489,500  at month end.
• Revenue: April forecast revenue was $854,295, actual revenue  $731,877, below projected amount. 
• Contributor to Deficit
  • Student ADA and Persistence continues to factor in lower state revenue
  • Title I,II, and IV Reduction fund due low enrollment.
• Expenses – April Forecasted expenditures $769,411, actual expenditures $783,886
  • Higher than forecasted expenses because significant AP paydown.
• Key Metrics
  • Days Cash on Hand - 4 Days
  • Net margin,% 4.0%
  • DESE fund balance, % - 1.3%
  • Salaries & Benefits, % Revenue - 63.9%
  • Lease/Debt Coverage Ratio - 0%

Facilities, % Revenues - 2.1%

The committee reviewed a draft of the SY24-25 budget.

MCPSC-sponsored school boards are required to establish a School Closure Reserve Fund.

The fund requirement is $75,000.

Boards must vote in open session to reserve these funds. Financial statements and audits must reflect the board’s decision. Board meeting minutes reflecting the vote are acceptable to satisfy the Epicenter compliance due no later than June 28.

The committee reviewed the RFP process and potential auditors for SY 23-24.

24-25 Staff vacancies

Network

1  Position

• Executive Assistant 

Operations

1 Position

• Student Recruitment Coordinator

HS

4 Positions

• PLTW Teacher
• Guidance Counselor
• Chemistry Teacher
• HS MGR, Student Support

MS

6  Positions

• 5th Grade Teacher
• 6th Grade History
• ID
• 7th Grade Math (Second Interview Progress)
• NDL Teacher
• Mgr. Student Support