Norms for 2026 - 2027

• cameras on
• rotate notetaker
• best times for meetings will be the third Wednesday of the month from 6 - 7:30 PM
• set up a work team to revise the F and F Committee Charter for AY27, including updates to any internal goals

Discussed the need for increased specificity (what/when) on line items for the CSP Spenddown plan. - Due to the Committee by 8.19.26.

• May need to meet with funders to amend the grant by $198K
• Going forward, ED report should include a discussion of grant reimbursement activity.

Discussion of other grant activity - tabled.

Reviewed the Financials for June:

• Days of Cash - 75
• Gross Margin - 5.6%
• Fund Balance - 18%

184k Increase in Net Income since prior Close:
 May close 136k  June close 320k
 The increase in Net Income can be explained by 198k of FY26 expenses were not paid by 6/30
 Impact on FY27 Budget
 198k of Operating Expenses that should have been paid in FY26 are shifting to FY27  Expect a 198k decrease in
budgeted FY27 Net Income

 Summary of annual changes: 167k increase in Operating Net Income
 194k of Black Men Read pass through funds that weren’t returned or passed through
 556k decrease in CSP
 50k Fy25 Transportation and Food expenses paid in FY26, but 198k of FY26 expenses to be paid in FY27
 182k decrease in Staffing
 87k increase in PD

Committee recommendations to improve timely documentation:

• Take a photo of any receipts and load to the appropriate folder within two business days of the transaction
• Obtain the DIVVY mobile app and use it to track receipts
• Credit card statement closes on the 14th; paid on the 15th. Receipts due to EdOps by the 24th or 25th.
• Use the EdOps Hub to assist with tracking, roles/responsibilities
• Documentation will be facilitated by the new Exec Assistant role in AY 27
• Board should request monthly reporting on timeliness.

Reporting Requirements:

New position of Executive Assistant will supervise Reportwell uploads for AY 27.

Ended AY 26 with 95% on time and 97% completion.

Facilities compliance:

 Water testing:  Will be done when completed as part of new construction.  Currently we have no lead pipes.

Next month will discuss the Provided by Client (PBC) list to assist in an efficient audit process in the fall.