Draft

Seaside School, Inc

Finance Committee Meeting

Published on August 15, 2026 at 4:40 AM CDT

Date and Time

Tuesday August 18, 2026 at 9:00 AM CDT

Location

Finance Committee Meeting 
Tuesday, August 18 · 9:00 – 10:00am
Time zone: America/Chicago
Google Meet joining info
Video call link: https://meet.google.com/pcx-kdwh-vbu

Founded in 1996
Serving Students in Grades 5 - 12

 

We seek to sustain an educational community where an emphasis on academic excellence is complemented by our concern for each learner’s personal growth and intellectual, aesthetic, and psychological development. The curriculum is developmentally responsive – actively engaging students in learning skills in context, integrative – directing students to connect learning to daily lives, and exploratory – enabling students to discover their abilities, interests, learning styles, and ways that they can make contributions to society.

 

 

Information on procedures for public comment can be found at https://www.seasideschools.net/domain/35.

 

If anyone needs special assistance to participate in the public input session, every effort will be made to provide an appropriate accommodation. When requesting accommodations for public input, please allow no less than 1 business day notice prior to the scheduled meeting.

 

Specific issues about a particular student should only be addressed to the school’s Director of Student Services, rather than the Board of Directors.

 

All public comments will be taken under advisement by the Board, but will not elicit a written or spoken response. The names of persons providing public comment and a brief summary of topics or input will be included in the meeting minutes published. A response will be provided to the stakeholder within seven (7) days.

Agenda

Section Number Topic Number Details Purpose Presenter Time
I. Opening Items 9:00 AM
  A. Record Attendance   Frank “Chip” Brown 1 m
  B. Call the Meeting to Order   Frank “Chip” Brown 1 m
  C. Minutes Approval Approve Minutes Frank “Chip” Brown 5 m
    Approve minutes for Finance Committee Meeting on June 16, 2026  
II. Finance 9:07 AM
  A. School Budget Updates and Reports Vote Lily Meadows 30 m
   

June 2026 Financials

 

Review

  • School Cash in Bank start of fiscal year Jul 1, 2025 $, end Jun 30, 2026 $2,170,374
  • Life to Date Loan utilization: $25,824,173.
  • Budgeted $278,275 surplus compared to year-end $1,313,763 surplus
    • Debt Surplus: $1,159,136, budgeted $0.
      • Several items borrowed for are expected to be reimbursed by Triumph. $750K borrowed, then reimbursed by General Appropriation.
    • Capital Outlay/LCIR Surplus: $268,503, budgeted surplus $239,343
    • Operating Surplus: $122,000, budgeted surplus $261,433
      • State earned revenue increase over budget by $324,759 (no FEFP increase was projected)
    • Internal Deficit: $235,875, budgeted deficit $222,501

 

Outstanding Receivables

  • Capital Outlay final June payment received in July
  • Triumph - $796,380; 63% salaried positions

 

Loan Requirements

  • Debt Service Coverage Ratio required 1.10-1.00 at Jun 30, actual year end 1.04
  • Cash on Hand required 60 days at Jun 30, actual year end 136

 

Audit Preparation

  • I have provided preliminary reports to the auditor to begin their review.
  • Audit is due to the District Aug 30.

 

 

 

 

 

 

 

 

 

 

 

 

July 2026 Finanicals

 

 

From the Balance Sheet you can see:

  • Cash Balances
  • Revenue Receivables
    • FEFP is being paid on 574.43, whereas I am accruing based on 638 (budget)
    • Capital Outlay will be paid starting in September, LCIR will not be paid until February, but I am accruing 1/12th each month based on 638 FTE
    • Triumph, still recording expenses as indicated by Tricia and recording revenue to offset. – Primarily salaries in receivable.
    • Foundation due to/from is driven by the lease payment and the credit card activity.
    • The Lease payment is accrued based on the last agreement - $14,000/mo.
  • Overall, the first month of the fiscal year shows a surplus of $356,284. This comes from the payroll expense being lower in July. Teacher contracts run Aug – Jul, last month at the end of the fiscal year, I accrued the July payroll.
  
  B. Foundation Updates and Reports Discuss Kav Tucker 10 m
   

Foundation Updates

 

 

 

 

 

 

  
  C. Triumph Update (if not covered in financial update) FYI Tricia Peterson 5 m
  D. Approval of the 2026-2027 Seaside Budget Discuss Frank “Chip” Brown 15 m
III. Closing Items 10:07 AM
  A. Adjourn Meeting Vote