Josephine Quach, the representative from Charter Impact presents the 1st Interim Financial Reports for Oakland Charter Academy. Elisa Gallegos, Board Member, states she is happy to see that we are strong fiscally, and is wondering if she has any recommendations, Josephine said that we will continue to make tweaks, but as far as recommendations just staying as strong as we have been staying. Josephine begins to explain page 5 of 11 which is the revenue and expenditures. 

Josephine begins to breakdown the Financial Reports of Downtown Charter Academy. She states that these are very sound and stable fiscal reports. She goes over page 10 and breaks down the spreadsheet shared. Josephine then goes over page 2 which includes revenues and expenditures. Sylvia Flores, Chief Executive Officer, states that page 2 also shows the restricted funds and how they were spent. Adrienne Barnes, Chief Operating Officer, states that tracking has been established so that we can save money moving forward. Josephine states that overall we will continue to monitor and she will present updates on 2nd Interim. Elisa Gallegos, Board Member has a follow up question regarding highlighted areas on page 4. Josephine clarifies. 

Josephine states that we are very strong fiscally for Benito Juarez Elementary. The Board Members take a moment to review the documents. Total Expenditures is discussed, overall we spent less than our revenue which is great. Gilbert, the Board President asks a question that is located on page 3 of 9, Josephine and Adrienne clarify. Restricted funds are always spent first as shown on the spreadsheets shared. 

Josephine states that this is very fiscally sound and stable, and that overall we will continue to make updates based on actuals. Right now there is nothing to worry about in terms of this budget. She brings our attention to total expenditures on page 4, she confirms that revenue exceeded expenses. She goes over total expenditures and revenue. Gilbert asks about page 7, the difference in change on page 5. Josephine clarifies that it is revenues and reserves amount. 

Josephine begins to show page 2 out of 9, and describes total revenue and expenditures. We do have a deficit because our balance carried from last year. Adrienne states that they are working with the auditors to determine best course of action. Josephine states that these numbers are projections right now, but that they are closely working with Auditors to ensure they are on the right track. 

Josephine begins to explain expenditures on page 4 out of 10. She states that is is higher than revenues but it is okay because we are still in the positives. Gil is wondering the discrepancy on Line F on Page 4, Josephine agrees. She will take this back  to her office and report back during 2nd interim. 

Mary Busby, Interim Chief Academic Officer presents the Grad Night Proposal for Oakland Charter High School. She states that this is an overnight trip. The trip has a few options, Option 1 cost beterrn $239 - $259, and the cheaper alternative is Universal Studios for $133 per student. Students have been fundraising for this specific trip. No student will be turned away due to financial inability to pay. This does not include transportation or housing fees for the drivers. The goal for them is to go to Disneyland for Gradnight, The students will cover the cost of the tickets, but the school will pay for the transportation, housing for the drivers, and meal vouchers for the themepark.