Brian presented a new live dashboard to provide real-time updates on revenue and expenditures through July.

• Financial Status: There was a $10k difference between June and July due to heavy upfront purchasing for curriculum, uniforms, and facilities upgrades (carpet and paint).
• Budget Trends: While July saw an uptick in costs, the school remains in a good cash position. Manoj questioned the $11k shortfall, which Brianclarified was an expected result of increased seasonal expenses.
• Reporting: Manoj requested traditional Excel-based reports for formal board meetings to ensure data immutability, which Brian agreed to provide. The dashboard link was shared via chat for committee access.

Facility Acquisition

The committee discussed the potential acquisition of a building located seven and a half miles from the current site to accommodate growth.

• Project Details: An LOI has been submitted for a building that includes 17,000 square feet of primary space plus trailers, totaling 34,000 square feet. This expansion could accommodate up to 500 students.
• Financial Model: The estimated acquisition cost is between $2.5 million and $2.8 million, with total renovation and purchase costs not to exceed $6 million.
• Risks and Approvals: The move is contingent upon securing a loan and receiving approval from the SCSC (specifically Robert Watts, Michelle Neely, and Donovan Head). A significant requirement is installing a sprinkler system, estimated at $700k to $1 million.
• Strategic Value: The location is in an area with increasing enrollment and less competition from other charter schools like Resurgence, Ethos, Kip, Main Street, or Slam.

Brian reported that the school is on track for its fourth consecutive clean audit.

• Process: The contract with Bambo has been signed, and documents are currently under review.
• Status: All receipts, invoices, and relevant documents have been submitted. The team is waiting for feedback on any "red flag" items or necessary reconciliations.
• Timeline: Feedback from Bambois expected within the next week or two to ensure completion before the deadline for the SCSC.