KIPP SoCal Public Schools

Finance Committee Meeting

Date and Time

Thursday June 1, 2023 at 3:00 PM PDT

Location

1933 S. Broadway, LA, CA, 90007 

Agenda

      Purpose Presenter Time
I. Opening Items 3:00 PM
  A. Record Attendance   EJ Kavounas 2 m
  B. Call the Meeting to Order   EJ Kavounas
II. Public Comment 3:02 PM
  A. Public Comment: Agenda & Non-Agenda Items Discuss EJ Kavounas 7 m
   

Members of the public are allows 2 minutes each for public comment

 
III. Financial Update 3:09 PM
  A. KIPP SoCal FY23 YTD Results Discuss Dhaval Prajapati 10 m
   

Management will provide an overview of the organization's financial results through the April 2023.

 
IV. FY2023-24 Budget 3:19 PM
  A. FY2023-24 KIPP SoCal Public Schools Budget Preview Discuss Kyle Salyer 30 m
   

Management will present the proposed FY2023-24 budget, including an overview of the proposals from the Governor's May Revise budget proposal, enrollment projections, and other assumption impacting the budget.

 
V. Other Organizational Updates and Discussion 3:49 PM
  A. KIPP Poder Public School Fiscal Stabilization Plan Discuss Kyle Salyer 5 m
   

Los Angeles County Office of Education (LACOE) has requested that KIPP Poder create a fiscal stabilization plan to demonstrate its ability to maintain a 3% reserve for economic uncertainty.  The plan is required to be approved by the Board of Directors.

 
  B. Banking Relationship Update Discuss Kyle Salyer 5 m
   

Management will provide an overview and recommendation for KIPP SoCal's future banking relationship

 
  C. Fees for Special Projects Discuss Kyle Salyer 10 m
   

Management will provide an overview of its recommendation for charging fees to schools to cover the cost of managing special projects on behalf of schools.

 
  D. Real Estate Financing Discuss Kyle Salyer 5 m
   

An update will be provided on our real estate financing, including a discussion on potential sources of financing for the real estate project to benefit KIPP Comienza Community Prep. 

 
  E. KIPP SoCal Forecast FY25 to FY27 Discuss Kyle Salyer 15 m
   

Management will lead a discussion on the forecast beyond the 2023-24 budget year and discuss key issues for the forecast.

 
VI. Closing Items 4:29 PM
  A. Adjourn Meeting FYI EJ Kavounas 1 m