Gifford Shaw gave an invocation.

Rodney Thompson led the Pledge of Allegiance.

Rodney Thompson read the mission statement.
Heather Bass read the vision statement. 

The Finance Committee met on March 26, 2026. Dr. Ivey presented the Executive Director’s Report and welcomed Mr. Shaw to present the financial updates.

The Finance Committee meeting focused on the school's current financial position and upcoming budget planning. Mr. Shaw reviewed the financial dashboard showing approximately 25 days of cash on hand, with enrollment at 911 students (below the 914 budgeted target). Key updates included a $2 million YASS Alumni Award, with $500,000 as a grant and $1.5 million as a 0% interest loan for Junior Academy expansion. 

The committee discussed a $16,740 parking lot seal coating project at the primary academy that needs to be completed within 6 months. The project is currently scheduled for spring break though concerns were raised about timing given current cash constraints. 

Mr. Shaw reviewed the FY27 budget presentation, with total revenue projected at $16 million and total salary and benefits at $11.4 million. The budget includes a 0% increase in state funding and a 3% increase in federal funds, with a projected net of $478,000 that would add to cash reserves if achieved. 

The committee discussed separating core offerings from Whole Child initiatives, with concerns raised about the difficulty of raising funds for the $1.8 million Whole Child expenses. The meeting also covered updates on needs assessment processes for Title I-II-III-IV and IDEA programs, with a May 15 deadline for final assessments.

Dr. Ivey noted the review of succession planning and the progress on executive leader search with 42 applicants received with phase three of the process beginning next week.

Plans are to continue a review of the FY27 budget in detail, along with updates on facilities expansion; a board tour is scheduled for the Junior Academy expansion on April 14.

Action Items and Upcoming Board Considerations

• Dr. Ivey will align with Mr. Shaw on wheter to move forward with the seal coating expansion project at the primary academy.
• Dr. Ivey and Mr. Shaw will continue to work through the FY27 budget options to prioritize the most mission critical positions to be included in the 6th grade expansion.
• Dr. Ivey will confirm with SCDE the status update on the strategic compensation MOU to release the $200,000 in funds.
• Recommended approval of first reading of FY27 budget to full board.
• Recommended approval of the Yass prize interest free loan agreement and terms for the $1.5 million as set forth in the document sent by Building Hope and the Center for Education Reform.