1. Pankaj, Nikesa & Alison

2. Contracts and procurement

3. IRS resolution - official

• Support Investments in Our Students - support investments in academic and wellness strategy including strategic investments using federal funds (ESSERs)
• Support Investments in Our Staff - support the school’s effort to develop our total compensation philosophy and outline our new teacher and staff compensation model to be implemented over multiple years.
• Support Long-Term Facilities Planning - determine the feasibility of a transformative facility project that consolidates and improves our physical spaces in service of our academic vision.
• Ensure Timely Budgets, Audits, and Tax Filings - review and approve annual budgets, financial audits, and tax filings to ensure that the organization is compliant with all necessary fiscal requirements.
• Review Multi-year Budgets and Ensure Sustainability - review multi-year budgets and provide recommendations to ensure the long-term financial sustainability of the organization while investing in our students, facilities, and staff.

Following Wednesdays from 12:30-2PM:

• August 30, 2023
• November 1
• December 6
• January 31, 2024
• March 27
• May 1

Year in Review/Soft Close/Audits

• Continued strong financials through Q4, ending the year with 136 days of cash. This is 4 days more than reported close at Q4 and triple the required target.
• We have increased our cash-on-hand $17k and will end the year with a net income of $63k; $558k of revenue stems from unrealized swap gains.
• As we close the books on FY23, additional revenue (HQIM and E-Rate) will likely offset any late invoices (approx. $150k).
• Annual fiscal audit starts next month with RSM. Gray, Gray, and Gray will do the 403(b) audit again this year. Internal prep for both audits has already begun.

• Submitted plan to OSSE (pending approval for total $2.3 million)
  • 7.6% retro payment for returning teachers (or $5000, whichever is higher); $5000 payment for all other returning staff; $1000 payment for all new staff
  • Support costs associated with FY24 compensation model investments (i.e. educational aide salary scale and non-instructional staff comp)
  • Additional resources for staff awards and spring payments
• Now forecasting $4.2MM in ERTC for FY24; initial thinking includes: 
  • FY24 debt-reduction to offset one-time, unexpected revenue
  • Assist with viability of CapEx campus consolidation; 
  • Will bring recommendation to next AF&F meeting  

Priorities for SY2023-24 are:

• Fifth grade move completed during summer ‘23
• Advocacy with DGS, PCSB, and DC Charter Alliance
• Design planning and engagement
• Quiet phase of capital campaign
• CapEx financing; assessing current assets
• Identifying flex space options (on-site and potential neighborhood opportunities)

Lenora completed a review; will share out any updates at next AF&F committee meeting.

November 1 at 12:30PM