• Aline presented dashboard update-no major changes since March financials
• Current ratios and enrollment remain stable
• Strong cash position and healthy financial ratios, expected to remain steady through FY26
• April is month 10 of the school year, monitoring variances above/below 83% benchmark
• No urgent financial concerns identified
• Tuition remains unchanged until final June adjustment
• Grants remain well below $1M threshold for single audit requirement- no anticipated change even with E-rate funds
• Payroll taxes trending higher than budget (~3.8% actual vs ~3.4% budget)
  • Aline noted this trend is consistent across charter schools
  • Recommendation to adjust next year’s assumption to ~3.7–4%
  • Jeff agreed and supported increasing the assumption for next budget cycle
• Workers’ compensation now processed through payroll rather than year-end billing
• Admin costs remain stable overall
• Instructional supplies:
  • Budget split across multiple categories rather than a single line item
  • Aline noted approximately $22,000 remaining unspent, allowing potential timing flexibility
  • Jeff confirmed school is attempting to allocate allowable expenses within FY26 when possible

• Jeff presented FY27 budget showing approximately $185,000 net income
• Staffing model remains largely unchanged with minor adjustments
• Salary and tuition increases both set at approximately 4%
• Benefits costs increased slightly due to uncertainty in family plan enrollment
  • Tara asked about the number of new hires
  • Ginger confirmed approximately 8 new hires (~15% of staff)
  • Jeff noted this includes both replacements and new positions
• Admin expenses increasing due to MCPSA subscription changes and BoardOnTrack implementation
  • Jeff confirmed BoardOnTrack is necessary for compliance and operational tracking
• Instructional services:
  • Contracted services increasing slightly (normal annual trend)
  • Professional development decreasing due to updated tuition reimbursement policy
• Maintenance:
  • Jeff noted possible need to increase maintenance supply budget due to rising usage trends
• Capital planning:
  • Jeff reviewed expected capital projects including:
    • Two HVAC units to be replaced in summer
    • Possible carpeting project
    • Security system grant (~$22K earmark from state)
  • Veronica advised ensuring depreciation is included for capital assets (10–15 year useful life guidance depending on asset type)
  • Jeff confirmed capital items are tracked separately from operating budget
• Building foundation:
  • Tara raised concern regarding crack in foundation
  • Jeff stated this is still being evaluated, currently may be cosmetic but under review

• Tara reported money market interest rate increase:
  • Renegotiated from ~1% to 4% for 6 months, then 3.25% thereafter
• Foundation accounting / Givebutter reconciliation issue discussed:
  • Tara reported approximately $1,000 discrepancy across reports
  • Veronica suggested reconciling using exported transactions and transfer IDs
  • Aline offered assistance with reconciliation
• Aline confirmed cleanup of foundation accounts:
  • ~$935 miscellaneous balance reallocated to school support for clearer reporting
• Event revenue discussion:
  • Includes Rock & Roll Bingo, Lion King, ice skating, and other events
  • Aline noted memo tracking being used in QuickBooks for clarity
• Tara noted difficulty reconciling Rock & Roll Bingo profit across platforms (Givebutter vs cash basis reporting)
  • Support offered for line-by-line reconciliation
• Jeff mentioned upcoming merch revenue expected next month

Next meeting scheduled for June 22nd