The committee held a public budget hearing and provided a high-level overview of the proposed annual operating budget, including:

• Budget scale-up from founding year to the first year of operations serving students
• Projected enrollment assumptions and growth plan
• Major revenue categories (state, charter supplement, federal grants, and anticipated philanthropic/grant funding)
• Major expense categories (personnel, curriculum/materials, facilities/safety)
• Projected fund balance and reserve

The committee noted the budget may require amendment later in the year if/when additional funding is awarded.

No public comment.

The committee reviewed the set of financial policies under development (based on a template) and identified a small number of areas needing customization, including:

• Updating approval/signature authority thresholds to better match operational needs
• Clarifying banking policy language (e.g., whether an RFP is required)
• Updating credit card/P-card policy to reflect the school’s transition to Ramp
• Confirming standard policies such as “time and effort” for hourly staff tracking

The committee agreed that revised policies should be brought to the next board meeting for review/approval (including procurement policy).