Arleen Samuels presented the September 2025 financial report, highlighting a net income of $722,925.15 and a net loss of $108,000.22. The committee reviewed key financial indicators, including the coverage ratio covenant, accounts payable summary, balance sheet, and cash flow statement. Ms. Samuels noted that while grant funds, including $56,000 from SCSE, had been received, monthly expenditures continued to outpace revenue, contributing to the ongoing deficit. The committee discussed potential revenue-generating options, such as concession sales and ticket revenue from athletic events, which generated $5,750.82 in ticket sales and $1,276.64 in uniform payments in September. Barry Williams emphasized the need to present a balanced budget by November, noting that CPI and FTE reports under review would inform adjustments.

Diane Freeman reported that the school received $58,229 in federal funding earmarked for remediation and literacy programs for economically disadvantaged students. The committee discussed whether these funds could support existing programs, and Ms. Freeman committed to verifying the eligibility of expenditures. She also reported delays in the disbursement of $60,000 in Title IV funds due to the federal government shutdown, explaining that the funds would be allocated to last year’s budget once released. Barry Williams added that leadership is working to reconcile last year’s budget and prepare to draw down FY26 funds.

Wendy Grimes presented an update on facilities operations, including the installation of BART units and ongoing work on the SCSE checklist. She highlighted current maintenance needs such as fencing, pothole repairs, door adjustments, and water fixture replacements, and noted that a part-time custodian had been hired at $10 per hour to support cleaning needs. A lockbox for the fire department is being installed, and metal detectors will be added by January 1. She also discussed ongoing challenges with storage capacity and the need for additional custodial support. Due to the board’s new requirement for two vendor quotes per repair project, some maintenance projects may be delayed past the October 31 deadline. The committee acknowledged that while potential monitoring findings may occur, the school would likely be granted time to address issues. The group reaffirmed the need to obtain competitive quotes to ensure cost-effective spending before the upcoming monitoring visit.

Chantelle Blake reported that approximately 67% of tasks in Epicenter have been completed, though several financial tasks remain in progress. Chantelle and Diane Freeman emphasized the importance of meeting QBE and federal funding compliance thresholds, which will be finalized later this week. The committee also discussed updates to key policies, including revisions to the Code of Conduct, Employee Handbook, and Scholar and Parent Handbook, all scheduled for board approval at the upcoming meeting.

Chantelle Blake presented the May 2025 Financial Policies Summary, which had been previously tabled pending potential revisions. After discussion, the committee moved the policies forward to the full governing board for approval.