Carl Nystrom presented the January & February 2026 monthly budget report. Discussion points:

• Tuition Revenue for year end will include an adjustment for an average enrollment of 1197. The adjustment will be in the June end of year payment. The calculation is estimated tp lower tuition revenues by 80k. The end of year tuition adjustments will include final student EL counts and sending district foundation budget adjustments. Collegiate did have over 20 students withdraw during the months of December - February mainly due to moving out of state. Collegiate did enroll an additional 16 students during that period of time. Over all budget revenues are on pace with year to date amounts. 
• January 2026 expenses in the IT Instructional account were reclassed to capital. Collegiate purchased 100 chrome books in January and the totaled 38k. The expenses was moved form IT to Capital expenses. 
• Employee tuition reimbursement will be over budget due to additional teaching staff taking college courses working towards DESE certification. Alan Miller asked about the policy, Adam Bakr said we allow once course per year & dependent upon budget teachers can submit for additional reimbursement. 

Adam Bakr reviewed cuurent update on Assistant Business Manager search. Collegiate has recieved over 30 resumes through school spring. Two canidates have been identified for addtional interviews. Carl Nystrom indicated that in the FY27 Budget there are two potenetion business staff openings. Collegiate will reveiw the timeline for adding addiotponal staff & keep the finance committee updated.

Adam Bakr & Carl Nystrom gave an upadte on the FY27 Budget, Adam bakr indicated that intial Health Cost porposal was an 9% increase. Carl Nystrom said we have instructed our Insurance Broker to try and lower costs. In addition, Collegaite is looking at the employee & employer contriubtion rates.