KIPP SoCal Public Schools
Minutes
KIPP SoCal Public Schools Finance Committee Meeting
Date and Time
Tuesday June 3, 2025 at 1:00 PM
Location
1933 S. Broadway STE #1144, Los Angeles, CA, 90007
Committee Members Present
C. Bermudez, J. Miller, N. Arastu
Committee Members Absent
None
Guests Present
B. Espinoza, D. Chao, K. Salyer
I. Opening Items
A.
Record Attendance
B.
Call the Meeting to Order
II. Public Comment
A.
Public Comment: Agenda & Non-Agenda Items
III. Minutes
A.
Minutes from Finance Committee Meeting on March 12, 2025
| Roll Call | |
|---|---|
| J. Miller |
Aye
|
| C. Bermudez |
Aye
|
| N. Arastu |
Aye
|
IV. Financial Update
A.
KIPP SoCal FY25 YTD Results
B. Espinoza provided an update on YTD results through Q3. B. Espinoza presented revenues and expenses compared to YTD budget along with explanation of some key variances. Discussion ensued, including discussion regarding facilities and maintenance budgeting and spending and the nutrition program. .
V. FY2025-26 Budget
A.
FY2025-26 Budget
D. Chao presented an overview of KIPP SoCal's FY2025-26 Budget Draft. D. Chao provided an overview of the State May Revise budget proposal and how that is incorporated into the KIPP SoCal budget assumptions. Other key budget assumptions were discussed, including enrollment, attendance rates, philanthropic revenue, and federal revenue. The committee members indicated support for taking the budget to the Board of Directors for approval.
VI. KIPP SoCal Finance Committee Strategic Update
A.
Financing Updates
K. Salyer provided an update on upcoming refinancing of the debt for the facilities occupied by KIPP Adelante and KIPP Comienza and the potential refinancing of the 2015 bonds. Discussion ensued.
B.
Other Strategic Issues
K. Salyer provided an update on the 2026 charter renewal cohort and potential financial implications of various renewal scenarios. Discussion ensued.
No members of the public at the meeting.