Draft budget is not complete yet.  Megan, Courtney + Brian anticipate having the initial draft to the finance committee in the next week.  The committee may have a currently unscheduled call to review before our next board meeting/retreat.

The attached resolution outlines that once the lease for the upcoming ('20-'21) school year is executed, CCP will no longer pay the additional contingent rent as outlined in the current lease agreement.  Starting with January 2020's rent payment, CCP has been paying contingent rent and VCP has put it in an escrow - these funds will be applied to future rent payments for the '20-'21 school year.

We are working to establish investment policies for CCP.  Next steps will be to share investment policies from other organizations and Alexis will take the first pass of drafting one for CCP. 

Megan reported that overall, we'll continue to be under budget as it relates to salaries + benefits.  Effectively, down by 3 and a half teachers.

In light of closing the school for the next couple weeks, a stipend of $500/teacher was issued to buy materials for their home offices as CCP is 100% e-learning for the foreseeable future. Additionally, Courtney noted that while items such as Chromebooks were purchased for families to utilize e-learning platforms, this would have been an expenses we would have eventually incurred - just earlier than anticipated (i.e. these Chromebooks will be put in the classrooms once the quarantine is lifted).

Finally, related to the COVID closure, from a budgetary standpoint, Brian reported that based on everything currently known, we should not run into issues from a revenue perspective.