Total revenue and total expenses were reviewed.  Surplus YTD is strong at 200K.  We are forecasting 188K to end the year.

Depreciation is 213K and projecting 437K to end the year.  Total assets 9.8.  FY23 above 10MM in total assets.  Total liabilities at 1.7 MM.  

Last month 4SS added the additional slide to have the visual of how we are progressing.  On the balance sheet it shows we have been very consistent with total assets at 10MM.  Revenue and expenses 16.6MM which is above compared to last year.  Current ratio - NYSED benchmark vs. Pharos; we are above the benchmark.

Days cash on hand is 118.  Benchmark is 30 days.  

Total margin 0.01 and the benchmark is 0.  Debit to asset ratio benchmark is 0.9 and we are at 0.17.

Enrollment count - budget was 682 and the actual is at 700.  For Special Education we have three more in the 20 - 60 range than what was budgeted.

The Profit and Loss statement was also reviewed.  No changes on Salary and Benefits forecast. 

Additionally, the balance sheet was reviewed. 

4SS reviewed the Investment Account update.  2.4 million is in the investment account.  Last quarter closing we had 2.3 million.  There is a positive change in value of approximately 30K or 1%.

All signatures have been submitted to MMB.

Upcoming audits will begin in the coming months.

N/A for this month.

Courtney Russell reviewed the approved enrollment increase with the Board of Regents (approved April 2023).

Courtney Russell shared an initial update on the first draft of the FY24 budget.

The Finance Committee would like to see brief notes on "worst case scenario" budgeting components that we can add into brief notes as a tab in the overall budget.

Courtney Russell reviewed the LeaseCrunch details from the auditor, MMB.  The Finance Committee discussed next steps.