Pharos Academy Charter School
Minutes
Pharos Academy Charter School Finance Commitee Meeting (Zoom)
Date and Time
Monday March 16, 2026 at 5:30 PM
Location
Committee Members Present
G. Garcia (remote), J. Lopez-Molina (remote), J. Sowell (remote), K. Shah (remote), P. Wesonga (remote)
Committee Members Absent
None
Guests Present
C. Russell (remote), M. Dorsey (remote), S. Rasheed (remote)
I. Opening Items
A.
Record Attendance
B.
Call the Meeting to Order
C.
Approve Minutes
II. Other Business
A.
Items Over 50K
III. Enrollment Update
A.
Enrollment Update
Current enrollment is at 687 FTE.
IV. Finance
A.
Monthly Financials
4SS shared the monthly financials for Pharos.
Current ratio 2.26. Days cash on hand 157 days. Total margin is above break even. Debt to asset ratio 0.86.
Enrollment is at 687 FTE.
11.3 MM in revenue against a budget of 16.7 MM in revenue. Projetion was updated last month. Per pupil is based on 685 scholars.
OPT spent 3.8 MM against projection of 5MM. 275K recorded in depreciation. Net surplus is 362K. Expecting a small surplus to end the year.
7.2 MM in cash and cash equivalents. Change from last year due to advanced per pupil funding.
Total assets 22.3 MM.
On liability side 579 in Accounts Payable, including a recent payroll.
Courtney shared a proposal from Togetherhood and discussed the Summer Boost grant. The committee asked a number of questions around funding, materials, references, and insurance. Courtney will be sure to connect with Dr. Brown about references and speak to the Togetherhood representative about insurance.
The committee asked to review the proposal again in April for approval.