Actual operating surplus for the three months ended 9/30/20 is $51,941 vs. budgeted deficit of ($306,989). Revenues are running lower primarily due to MFP revenue and before/after care fees. Continuing with surplus since expenses are running lower than expected as well. 
Salary, payroll taxes & benefits all under budget – mostly due to timing of hires & benefit plan participation
o Professional fees over YTD budget mainly due to upfront spending related to professional development, new payroll software, COVID support
o Insurance under budget due to timing of premium payments & billings from NOPS
o Busing costs in September significantly below budget
o Materials & Supplies – Instructional over YTD budget mainly due to upfront purchasing of supplies; Food Service Supplies below budget due to reduced food purchases
o Miscellaneous under budget as most costs in category not incurred yet
Took the loan into conditional income for the audit purposes - under assumptions this loan will be fully forgiven - following provided by accounting guidance. 

19-20 Financial Audit is in progress
Workers Comp audit completed on September 8th 
Due to pandemic the audit is happening remotely and documentation is upload for review
Expecting to submit the audit by early December