CFO, B. Chan, went over the dashboard and current cash position. 

 Current Cash Position:

Checking: $ 296,766 

Food Service: $ 61,465 

Reserve: $ 286,127 

Total: $ 644,358 

CFO, B. Chan reports the school is about 70-75% through the implementation of SAGE.  We are aiming for a July 1 soft change over from Quickbooks. 

D. Zieff asked when we are going to run parallel? B. Chan reports that July will be the month. 

Audit planning- we have an audit coming up on Thursday, June 26th. 

B. Chan reports that the operations team with the help of Mr. Litwin, our facilities manager, has been helping the off peak usage of electricity. 

• During the summer months the school runs on the 1st and 2nd floor for summer school and MLL program and the 3rd floor is not in use. 
• The electric meter is being monitored by Mr. Litwin year round. B. Carlson, Board Chair, asked who else knows how to use/ read the meter in case Mr. Litwin is not around? L. Hubbard reports she knows the basics. 
• The Operations Team has been able to control the electric use throughout the building. The electric rate is going down about 5% instead of just a constant increase. 

We have receivables. We have asked for the 4th quarter sped funding from the bridgeport school district, Commissioners Network, Title 1,2,3,4, State Bilingual and SIG which is a total is $860,000 that is in the process of coming to us. We should receive that in the bank in the next few days. 

• D. Zieff will be running the bank and Credit Card reconciliation efforts in the next cycle.

At the end of May we are at 1,047,417 and an additional 866,610 from receivables.

The updated 11 month actual vs. budget:

State funding had an increase which is about $1,000 per student. This is an added 496,388 new per pupil adjustment. 

• Next year stays at 66%

L. Hubbard reports that the form we give out is an internal form. It is confidential and protected by FERPA and this document allows us to get more information. 

No new vendors.

No additional items.