KIPP SoCal Public Schools
KIPP SoCal Finance Committee Meeting - CANCELLED
Date and Time
Location
KIPP SoCal School Success Team Office
1933 S. Broadway St, Suite 1144
Los Angeles, CA 90007
Agenda
| Purpose | Presenter | Time | |||
|---|---|---|---|---|---|
| I. | Opening Items | 10:00 AM | |||
| A. | Record Attendance | Naeem Arastu | 2 m | ||
| B. | Call the Meeting to Order | Naeem Arastu | |||
| II. | Public Comment | 10:02 AM | |||
| A. | Public Comment: Agenda & Non-Agenda Items | Discuss | Naeem Arastu | 10 m | |
|
Members of the public are allows 2 minutes each for public comment |
|||||
| III. | Consent Agenda | 10:12 AM | |||
| A. | Approve Minutes from the December 5, 2025 Finance Committee Meeting | Approve Minutes | Naeem Arastu | 1 m | |
|
Approve the Minutes documenting the discussion and action taken at the Finance Committee Meeting held on December 5, 2025. |
|||||
| B. | Second Interim Financial Reports | Vote | Naeem Arastu | 2 m | |
|
Review and approve the FY2025-26 Second Interim Financial Reports for KIPP Sol Academy, KIPP Compton Community School, and KIPP Adelante Preparatory Academy. |
|||||
| C. | Authorization to Obtain Revolving Credit Line with Ramp | Vote | Naeem Arastu | 2 m | |
|
KIPP SoCal Public Schools is migrating its spend management platform from Concur to Ramp. Ramp offers a comprehensive platform that covers procurement, accounts payable, expense reimbursements and corporate credit cards. A distinguishing feature of Ramp is that it integrates its own credit card product into the spend management platform. As a result, KIPP SoCal will be closing its credit cards issued by PNC and transitioning all credit cards to those issued by Ramp.
KIPP SoCal will be applying for credit through Ramp to facilitate the transition and management is seeking approval to apply for and obtain a revolving line of credit to support the Ramp issued credit cards. The credit line is not expected to exceed $500,000. |
|||||
| IV. | Financial Update | 10:17 AM | |||
| A. | KIPP SoCal FY26 YTD Results | Discuss | Dennis Chao | 20 m | |
|
Management will provide an overview of the financial results through January for Fiscal Year 2025-26. |
|||||
| V. | FY2026-27 Budget | 10:37 AM | |||
| A. | FY2026-27 Budget Preview | Discuss | Dennis Chao | 35 m | |
|
Management will give a preview of the FY2026-27 budgeting process |
|||||
| VI. | KIPP SoCal Finance Committee Strategic Updates | 11:12 AM | |||
| A. | Refinancing Updates | Discuss | Kyle Salyer | 10 m | |
|
Management will provide an overview of the upcoming refinancing of the New Market Tax Credit loan for KIPP Adelante and the loan from Charter School Growth Fund for construction of KIPP Comienza's facility. |
|||||
| B. | Other Key Updates | Discuss | Kyle Salyer | 8 m | |
|
Management will provide an update on the spend management system selection and an update on the ongoing KLARE corporate formation restructuring. |
|||||
| VII. | Closing Items | 11:30 AM | |||
| A. | Adjourn Meeting | FYI | Naeem Arastu | ||