Rodney Thompson gave an invocation.

Rodney Thompson led the Pledge of Allegiance.

Heather Bass read the mission statement, and Rachel Suchecki read the vision statement. 

Committee Liaison Report from Director of Finance: Gifford Shaw presented the January Finance Dashboard, including the Statement of Revenue and Expenditures, Cash Position, Operating Capital update, donations, Food Services cash flow analysis, enrollment, and FY26 federal reimbursement allocations (Titles I, II, III, IV, and IDEA). Cash on hand is 45 days. Enrollment stands at 913 (98% of target). Revenue is projected at $11.8M, slightly below budget. Salaries are trending under budget, while expenses are being closely monitored due to construction-related interest. Net reserves are projected below target. The Committee discussed the option of paying invoices closer to the 30-day deadline during months when revenue receipts are slower in order to support cash flow management. Delayed 1095-C and 1094-C filings are being addressed.

Yass Prize announcements are expected this week. Positive feedback was received regarding LSC’s budget during the Building Hope session attended by LaShea Davis and Dr. Ivey.

Expansion Update: The Committee discussed expansion plans and progress toward occupying identified spaces for the upcoming school year. Additional classrooms will be available for temporary use as needed (e.g., band, music, and the arts). Interior branding options were reviewed, and a walkthrough of the space was conducted.  

Primary Academy Maintenance Discussion (Restriping/Resurfacing): Rodney Thompson is reviewing details and will present additional information at a future Finance Committee meeting.

FY27 Preliminary Budget: The Committee discussed whether to base the FY27 budget on current confirmed funding levels versus projected increases that have not yet been finalized.

LSC Needs Assessment: Dr. Ivey is working with key staff to align and develop LSC’s needs assessment for presentation at a future meeting.

Test Security Policy and Procedures: The policy is under review by the Governance Committee and is scheduled to be presented to all committees and to the full Board on March 30 for approval consideration.

Succession Planning: The Committee received and reviewed documents related to leadership succession and sustainability planning, including the Executive Leader Succession and Sustainability Planning document.

• The first draft of the FY27 budget will be presented at the March 30 board meeting. 
• Primary Academy maintenance (restriping/resurfacing) will be presented at the April finance committee meeting.
• Rodney Thompson will secure two dates for expansion tours for board members and identified parent leaders.