Aline Discussed: 

• Overall financial ratios have improved since the end of FY26. Cash on hand increased from approximately 46–47 days at year-end to over 100 days following tuition payments. No significant unfavorable financial concerns were reported. 
• Treasury Direct activity reflected transfers between the Pentucket account and Treasury Direct. The difference in the amount transferred was intentional to account for significant HVAC expenses. 
• Bill.com clearing account may show small timing differences between invoice and payment dates. Amounts under $1,000 are generally expected to clear as the month progresses. 
• The FY26 audit is nearing completion. No significant issues or anticipated adjustments have been identified at this time, and requested information has been provided timely. 
• Grant and nutrition revenue has not yet been recognized. Grants are generally approved toward the end of September, with drawdowns expected to begin in October or November. 
• Longer term subscriptions are being recorded as prepaid expenses and spread across the applicable months to provide a more consistent presentation of expenses. 
• Plumbing, HVAC, and security camera work completed over the summer is being recorded as leasehold improvements and will begin depreciating. 
• Accounts payable was approximately $37,000, with payments being made timely. 
• Tuition revenue is currently in line with the budget and based on 306 students. 
• Administrative supplies are currently over budget. The group discussed reviewing the detail to determine whether this is primarily due to beginning-of-year purchases and monitoring the line moving forward. 
• The approximately $6,000 HR charge was reviewed during the meeting and confirmed to be an annual maintenance fee. Aline will adjust the expense to spread the cost throughout the year.
• Facilities expenses remain in a good position overall despite several summer projects and purchases. 
• Foundation financials remain relatively quiet. Rock & Roll Bingo expenses were confirmed, along with rental income, donations/event revenue, interest, depreciation, and legal expenses

• Continue monitoring administrative supply expenses and review the purchases contributing to the current overage. 
• The group discussed escalating HR/payroll questions to additional Hilb contacts if timely assistance is not received. 
• The audit remains in progress and is expected to wrap up soon. No significant issues have been identified. 
• Aline shared that she will be traveling the following week but will remain available, with Cindy available for emergencies.