Pharos Academy Charter School
Minutes
PHACS Finance Committee Meeting
Date and Time
Monday September 14, 2026 at 5:30 PM
Location
Committee Members Present
J. Lopez-Molina (remote), K. Shah (remote), P. Wesonga (remote)
Committee Members Absent
G. Garcia, J. Sowell
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. Investment Account
A.
Investment Account Update
III. Other Business
A.
Items Over 50K
N/A
IV. Finance
A.
Monthly Financials
4SS reviewed all financials for August 2026. All is going according to plan in terms of expenditures and monies received.
Courtney Russell provided an update on enrollment for FY27. Our budgeted number is 709 and the school is currently at 707. The school team is working actively to recruit and enroll scholars using a healthy wait list available. Courtney provided an overview of the process, shared spreadsheets to provide an update on numbers (enrollment vs. wait list vs. goal).
The Board engaged with several questions to which the school responded. The school is confident we will be able to get to 720+ with efforts currently in place.
V. Audit Updates
A.
Audit Updates
MMB will join the October finance call for an update.
Current deposits = $4,657,821 - do not touch, operating account
Current money market = $478,313 - can be transferrred to treasury ladder if Board desires
Current 3 year treasury ladder = $2,263,402 - TBills
TOTAL = $7,399,536
No change in value and just extend out to five years (only extending current 3 year treasury ladder) - passive approach Daniel mentioned on his email