Board Members:

Adrienne Mason: Board Chairperson

Taina Knox: Board Treasurer

Tyrone Foster - Board Member 

School Officials:

Steven Carney: Executive Director & School Leader - RSV

Sandra Yokley: Director of Operations - RSV

JGP

Matt Paolini

Purpose: To review October’s financial performance, key metrics, and sustainability indicators, alongside strategic recommendations to address budget impacts from lower enrollment.

Summary & Key Metrics
 

Enrollment & Funding

• Enrollment: Currently at 60 students, below the 70-student goal, which affects revenue given FTE-based funding.
• Revenue Collection:
  • Public Revenue: 15% collected, slightly under the 17% target due to delays in federal funds.
  • Private Revenue: Achieved 44%, meeting overall fundraising goals, though donations lag at $1,000 against a $35,000 budget​​.

Expenditures

• Spending Rate: On track, with 14% of the budget used compared to a 17% benchmark.
• Major Expenses:
  • Salaries: $163,592 spent out of a $1,020,133 budget (16%).
  • Contracted Services & Facilities: Running below budget with facilities costs at 17.9%​​.

Cash Position

• Days Cash on Hand: A robust 97 days, well above the 60-day goal.
• Bank Balances: Combined total of $660,014.99 across accounts​.

Payroll

• October Payroll: $82,246.50, mainly covering administration and teaching roles.
• Deductions & Benefits: High deductions for state pensions, taxes, and insurance​​.

Accounts Payable

• Outstanding Payments: Totaling $88,974.92, focused on benefits, utilities, and supplies, with an additional $3,351.51 in non-AP cash disbursements for tech and office fees​​.

Liabilities & Equity

• Current Liabilities: $47,718.15 in accounts payable, plus a $1.13M construction loan as long-term debt.
• Equity: Currently at $1.44M, indicating strong financial standing​.

Analysis & Observations

• Sustainability Concerns: Five-year outlook suggests challenges due to enrollment shortfalls impacting revenue. Further cost management may be needed if enrollment does not increase.
• Fundraising Dependency: While private revenue meets targets, low donations suggest a reliance on grants. Exploring additional fundraising sources could enhance resilience.
• Operational Efficiency: Spending aligns with budgeted goals; ongoing management of facilities and service costs will be key as RSV grows.
• Cash Flow & Liquidity: Strong cash position offsets federal funding delays, though optimizing public revenue collection could further stabilize cash flow.
• Employee Benefits & Payroll: Payroll constitutes a major expense with notable deductions; careful monitoring is advised if staffing grows.

Continued Recommendations

Enrollment Strategy: Intensify recruitment to meet or exceed the 70-student target, crucial for revenue growth.

Fundraising Expansion: Strengthen donor outreach and explore new funding channels, including local business or educational grants.

Cost Optimization: Review long-term costs for facilities and contracted services to ensure alignment with budget constraints as RSV scales.

Purpose: Evaluate and discuss two fundraising proposals for RSV to determine the best partner for addressing the $500,000 funding gap through diversified revenue streams. The analysis recommends Pacific Northwest Fundraising (PNWF) for its multi-channel fundraising approach, comprehensive event management, and capacity-building support.
 

Key Discussion Points:

1. Pacific Northwest Fundraising (PNWF): Proposes a fractional business model with support across major gifts, recurring donations, sponsorship outreach, and full event management, aligning well with RSV’s operational needs and limited internal development capacity​​.
2. ResourceFull Consulting: Specializes in grant-based fundraising with a strong focus on equity-driven grants and long-term capacity building for grant acquisition, ideal for securing large, transformative funding​​.

Action: Vote on committee recommendation for the most suitable vendor to meet RSV’s comprehensive fundraising objectives.

• Recap of action items and final remarks.
• Confirmation of the next meeting date