Draft for the lease contract with Grace to lease the second floor for middle school expansion.

draft of SPED Strategies contract for the current school year (to be paid with CSP funds)

Insurance premiums increase for middle school additional classes and contents. 

Review quote for adding security and safety features to leased space at Grace (CSP funds to cover cost)

Service Agreement / contract for PT services for School year with Jason Riley / Riley Physical Therapy

LDOE Stipends for school years 2024/24 & 2025/26, additional funds from LDOE

The committee will discuss each goal regarding its status:

On-Target — progressing well and on schedule 

Off-Target — falling behind the expected timeline 

At-Risk — requiring monitoring and/or intervention

ACE FY26 Finance Committee SMART Goals

Goal #1:

By September 2025, the Finance Committee, in collaboration with Accounting Services, will initiate a monthly review of the Budget vs. Actual Report to enhance financial oversight and inform strategic decision-making. This analysis will ensure that budgetary allocations align with actual expenditures, providing a clear picture of financial health and supporting informed financial planning.

Goal #2:
The Finance Committee will ensure that financial statements are and continue to be balanced, current, and accurate by September 2025, and will review them at each subsequent Finance Committee meeting. This initiative will involve a thorough review and reconciliation process, ensuring that all financial data is up-to-date and in line with standard accounting practices, thereby strengthening fiscal responsibility and transparency.

Goal #3:
By June 2026, Katie, in collaboration with Accounting Services and the Finance Committee, will develop and implement procedures to efficiently expend the CSP budget. This will include meticulous billing processes, ensuring that funds are utilized effectively and in compliance with program guidelines.

Goal #4:
By August 2025, HEAL will begin providing monthly Medicaid billing reports to the ED, Finance Committee, and Accounting Services to manage productivity effectively, with reports completed by the 15th of the following month. This goal aims to streamline billing processes, ensuring timely and accurate financial reporting, which will contribute to enhanced financial management and more effective resource allocation.

Goal #5:
By August 2025, Accounting, Joellen, Katie, and the Finance Committee will establish, document, and implement comprehensive procedures for the month-end close. This effort aims to standardize the closing process, ensuring accuracy and consistency in financial reporting and supporting a smoother and more efficient monthly financial cycle.

Goal #6:
By August 2025, Katie, Joellen, Accounting, and the Finance Committee will develop a cost analysis for each classroom, determining the cost per pupil and per classroom. This analysis will establish "rules" for decision-making, providing a data-driven foundation for resource allocation and financial planning within the educational environment.

Goal #7:
By June 2026, procedures will be established by Katie, Joellen, Accounting, and the Finance Committee to increase access to cash through timely billing to CSP and Medicaid, as well as by developing a line of credit (LOC). Additionally, by the same date, Anna will create and implement processes for cash transfers with Friends of ACE, ensuring that liquidity is maintained to support operational needs and maintain financial stability.