It is recommended that the KIPP Memphis Public Schools Board of Directors approve the contract to Triple T Cleaning LLC in the amount of $395,000.00 annually to provide custodial services for KIPP Memphis Public Schools. The term for this contract is 36 months with two (2) additional one-year renewal options. 

It is recommended that the KIPP Memphis Public Schools Board of Directors approve the amended contract to ENA Services, LLC in the amount of $50,700.00 (plus applicable fees and taxes) annually to provide internet connectivity services for KIPP Memphis Public Schools. The contract is amended to remove the current Regional Office as a service location. The total monthly service cost for both locations of $4,225.00 includes all E-Rate eligible costs. The term for this contract is 36 months with two (2) additional one-year renewal options. 

It is recommended that the KIPP Memphis Public Schools Board of Directors approve the contract to Class AAA Security, LLC in the amount of $118,900.00 annually to provide security services for KIPP Memphis Public Schools. The term for this contract is 36 months with two (2) additional one-year renewal options.

It is recommended that the KIPP Memphis Public Schools Board of Directors approve the contract to BCH Services Group in the amount of $617,400.00 annually to provide daily student transportation services for KIPP Memphis Public Schools.

Chief Carr presented and gave an overview of the following:

• 2024-2025 KIPP Memphis Adjusted Budget vs. Actuals for All Schools, KIPP Forward, and SST.
• The finance team has excelled in managing grant reimbursements and working with Memphis-Shelby County Schools and the State, ensuring a quick turnaround. Both revenue and cash flow have benefited from strong financial and operational support.
• FY 2025 Cash Projections: 
  • 192 Days projected (without investments) cash on hand at June 2025
  • 244 Days projected (with Charles Schwab) cash on hand at June 2025

• PowerSchool enrollment is 1,041, while the adjusted budgeted enrollment is 1,017. 

Chief Carr provided an update on the following:

• 2025-2026 TISA projections
• 2025-2026 KIPP Memphis Initial Budget for All Schools, KIPP Forward, and SST

Schools:

• A 2% pay increase was approved for teachers and teacher types, which includes PLC coaches and counselors.  
• Minimum Teacher salary for 2025-2026 is $50K.
• KMPS position changes for all schools, KIPP Forward, and SST for 2025-2026 reflect an overall decrease in positions.

2025-26 Initial Budget:

• The 2025-2026 initial budget for all schools and SST is categorized by funding source.

2025-26 Budget Calendar:

• The proposed budget and updates will be shared with the Finance Committee on May 21, 2025.
• Submit the proposed 2025-26 budget for Board approval on June 5, 2025.

Board Chair Johnson acknowledged that there’s a lot of uncertainty both within and outside the State. He asked how Dr. Burt and the team are addressing these unknowns and planning accordingly, noting that this isn’t a typical year.

Chief Carr: The finance department has been actively staying informed through news, documents, and professional development. Currently, for KIPP, the only federal funding included in the budget is Title I.

Committee Chair Davis thanked the team for attending the Finance Committee Meeting despite the bad weather.