Aline

• Aline shared her screen and reviewed the April–May financials.
• She noted that there were no significant changes or concerns in the financials from April to May.
• The organization received approval for cash management of the bank account. Current cash balance is approximately $1.1 million, with net income showing a favorable position of approximately $250,000.

Balance Sheet Review

• Aline reviewed the balance sheet and noted:
  • No major changes in cash balances from April.
  • Accounts receivable continues to reflect expected incoming funds.
  • Melissa Garber and the team have been tracking E-rate funds and grant receivables.
  • A significant amount of grant funding came in over the last few days, with some delays expected to clear over the next few weeks.
• There was a slight increase in prepaid expenses related to smart boards.

Fixed Assets / Capitalization Discussion

• Jeff and Ginger asked whether purchases were being tracked individually or grouped together.
• Aline explained that some auditors allow items to be grouped for capitalization, while others require individual tracking.
• Based on school policy, the current process is acceptable.
• All payments are being made timely, and grant liabilities are expected to clear.

Revenue Discussion

• Aline reviewed revenue details:
  • Tuition payments are still being received, and the team does not anticipate a significant decrease.
  • E-rate funds are trending slightly lower than expected.
  • Student service income is being monitored due to requested expenses.
• Aline asked if there were any questions regarding revenue.

Committee Response

• No questions were raised regarding revenue.

Expenses / Payroll Review

• Wages and workers compensation were reviewed.
• There are two remaining payrolls under the current $32,000 payroll allocation.
• The budget projection was reviewed, with expectations adjusted based on current trends.
• Administrative costs remain around 85% of budget and are tracking appropriately.
• Instructional expenses are performing well.
• Student services are trending slightly over budget.
• Nutrition expenses were the only area noted for additional review.

Jeff

• Asked about April and May numbers being estimates.
• Aline explained that estimates may be slightly under budget, but historical trends typically show some variation. 
• Aline 
•  Reviewed facilities-related expenses, including:
  • Utilities
  • Maintenance
  • Rent
• Discussed working with Sharon regarding foundation income and school-side rent expenses.
• Discussed month-to-month comparisons and confirmed year-to-date numbers come directly from QuickBooks.

Foundation Update

• Aline shared that the foundation has been relatively quiet this month with no major changes prior to cleanup.

Jenny Greene

• Discussed the $50,000 Cummings grant received annually.
• Birchtree pays an additional $50 per month for rent. 

Veronika

• Noted that adjustments need to be made to reflect this recurring funding.

Jeff

• Asked if this recurring item should be adjusted in the budget.
• Believes the adjustment begins with the August payment cycle, noting the school may be one month behind.
• Aline will make a note and send the update to Shane.

Budget Presentation

• Jeff L. shared the updated budget.
• He noted there have been no substantial changes.
• Current projected net income is approximately $160,000.

E-Rate Discussion

• Jeff L. asked whether revenue should be adjusted for FY27.
• Aline reviewed the E-rate projection and noted the estimated amount.
• The service cost is approximately $6,000 with two Comcast accounts.
• Jeff recommended reducing the revenue amount to better reflect expected funding.

Professional Development (PD) Discussion

• Veronika shared staff survey feedback regarding professional development needs.
• Discussion focused on whether the budget should increase to allow more flexibility for staff training.

Ginger

• Shared staff feedback:
  • Staff would like more professional development opportunities.
  • There is a balance between providing training and allowing more planning time.
  • Additional needs include anti-bias and anti-cultural training, which has not yet been budgeted.
  • Suggested bringing in an outside speaker.
• Discussed training opportunities for non-teaching staff as well.
• Current focus has primarily been on teacher pay scale and development, but there is a need to consider all staff.

Jeff L.

• Asked what amount would be reasonable and how many staff members would be included.
• Discussed required DESE training requirements and the importance of meeting those needs.
• Suggested identifying overall staff needs and determining how to distribute funding.
• Proposed $5,000 as a reasonable starting point.

Budget Adjustments
Jeff

• Recommended increasing budget lines for items that have not been specifically planned, including:
  • Playground improvements
  • Painting
  • Signage
  • Maintenance
• Noted the need for continued investment in the building.

Veronika

• Asked about signage.
• Discussed replacing the sign above the front door.

Fixed Assets
Jenny

• Asked about the sign out front being fixed.

Jeff

• Confirmed sign was repaired. 

Student Services Budget

• Discussed improving tracking for:
  • Graduation
  • K crossover activities
  • Parent movie screenings
  • Gratitude Feast
  • Trunk or Treat
  • Other student/family events
• Discussed creating a general student services bucket for recurring activities.

Staff Appreciation

• Discussed increasing staff appreciation opportunities throughout the year.

Technology / Instructional Hardware

• Discussed setting aside funds for monthly instructional hardware needs.
• Goal is to have available funding for replacements and purchases as needed.

Overall Budget

• Committee agreed that the budget maintains a sufficient cushion.

Jeff

• Thanked Jeff for his hard work preparing the budget.
• Jeff will reprint the budget and provide it for the board meeting.
• Requested any additional suggested changes within the next 10 hours.

Budget Approval

• Veronika motioned to approve the presented budget.
• Jeff seconded the motion.
• Motion passed.

July 20th