Suzanne opens the meeting with discussion for financials from July - December of 2025. 

Financial Review and Enrollment Update

Suzanne opens the meeting with discussion for financials from July - December of 2025. They discussed revenue, which was at 47% of the budget, and tuition rates. Bill inquired about the regular rate and foundation rate.

 Suzanne provided the current figures: 

 1. Personnel costs were running at 45% of budget, slightly below the 50% target, due to unfilled positions.

2. Administrative costs were at 58% 

3. Instructional costs were at 31%. 

Bill inquired about maintenance needs, and Omari and Suzanne mentioned plans for gym renovations and storage space improvements, which would be presented to the board in the coming month. 

There are also  plans for a major electrical upgrade as well as changes to the roof. The spending for these upgrades will all be capital projects. 

Statement of Financial Position/Blance Sheet:

Our cash (which is compared to last years) is up 12% and overall 1.2% up for assets. 

The board approved a motion to shift $766,435.49 from the money market to a CD to lock in a higher rate, bringing the total CD balance to $1,300,000. 

The group proposed an additional $25,000 for tuition assistance, maintaining the one-year eligibility requirement, and discussed the potential risks and benefits of waiving this requirement. The board also discussed the challenges of recruiting teachers, with Omari noting a significant decline in teacher candidates over the past decade. The board agreed to inform the full board about the financial decisions and continue to monitor the effectiveness of the tuition assistance program. 

The board approved an additional $20,000 in funding for visa processing costs, bringing the total available to $32,590. West explained that while they currently have a credit of $12,590, they anticipate needing more funds for complex cases and extensions.