Ted Gildea, Committee Chair, directed the Committee's attention to the General Finance Updates. Diana Landry, Business Manager at Central Source, presented City on a Hill's financial statements, including the year-to-date budget and actuals as of April 30, 2024. She noted that the school is on track with its spending and currently maintains a surplus.

Jordan Pina, Chief Operating Officer, reported that she and Sonya Pratt, Executive Director, have been engaged in discussions regarding the allocation of surplus funds within the current fiscal year's budget. These discussions encompass various initiatives, such as professional development opportunities for administrative and operations staff, organizing summer college visits for students, and prepaying bills. Gildea commended the school for its conservative spending, acknowledging its effectiveness in preparing for the upcoming year.

The Committee inquired on the progress of the building sale process. Pina conveyed that Asha Ibrahim, Chief of Staff, has been conducting tours for prospective buyers, noting that the process is proceeding smoothly with significant interest from non-profit organizations. Landry noted that we will obtain precise figures for the SY25 budget subsequent to the completion of the building sale.