S. Haumersen presented the June 2026 financials to board members for approval, noting the following:

• Preliminary stand alone net loss: $1,086,422 (net cash gain $84,173). Net loss was $164,680 better than the prior year. (Figures pending year-end reconciliation).
• DPI funding and grants down due to enrollment declines and loss of prior-year WCSP grant; largely offset by increased fundraising and staffing cost savings.
• Anonymous donor match goal met; payment expected pending donor's board approval.

K. Caire presented the proposed budget for the 2026-27 fiscal year, noting that One City has not received the equitable funding requested by the state, and as such, have made the following decisions:

• The longer school day and school year have been eliminated - the funding for this is not supported by the state, and One City has relied on private philanthropy to date
• Some positions have been eliminated or restructured in order to reduce fundraising pressure while ensuring high quality instruction and experiences for One City families - 14 positions were reduced from the 25-26 budget through a combination of eliminations and unfilled vacancies
• We will stay smaller with an expectation of 400 scholars attending our charter schools for the coming year
• Enrollment will continue through the end of October
• At a typical charter school, the personnel expenses make up between 68-75% of the budget; at One City the personnel costs are 71% of the budget
• The advocacy work will continue, along with the OCPA charter renewal which is due to One City's authorizer at the Universities of Wisconsin Office of Educational Opportunity on July 31, 2026

K. Caire reported that One City needs to raise $1,773,000 to meet budget goals, with total revenue of $12,369,000, total personnel costs of $8,772,000, and student costs of $1,698,000. 

Occupancy costs presented do not include depreciation or imputed lease costs; a separate capital budget will be presented next month. Total expenses were reported at $12,343,000, resulting in a net budgeted surplus of $52,853.

K. Caire reviewed metrics related to the budget, including preschool rate setting and staff discounts, and cost savings and new revenue anticipated from the shorter school year and summer school.

J. Johnson asked about the extent of the savings, and S. Haumersen noted that the savings were not from salaries but from nutrition costs, utilities, and other variable occupancy costs, totaling approximately $150,000.

The motion was made by J. Howard to approve moving to a shorter school day, in line with local traditional public schools. The motion was seconded by G. Ladson-Billings. The motion was approved.

The motion was made by J. Howard to approve moving to a shorter school year, in line with local traditional public schools. The motion was seconded by S. Campagna. The motion was approved. 

C. Hampton presented the annual updates to the Scholar and Family, Employee, and Preschool Family Handbooks, along with the new Staff and Volunteer Interaction Policy incorporating Wisconsin's anti-grooming law requirements. C. Hampton noted that the policy had been reviewed by school counsel for compliance with Wisconsin law and the school's charter.

Chair Howard requested that final copies of the handbooks be added to the Documents section of Board on Track.