KIPP SoCal Public Schools
Minutes
KIPP SoCal Finance Committee
Date and Time
Monday September 15, 2025 at 1:00 PM
Location
11444 W. Olympic Blvd., 11th Floor
Los Angeles, CA 90064
Committee Members Present
C. Bermudez, J. Miller, N. Arastu
Committee Members Absent
None
Guests Present
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. Voting Items
A.
Minutes from Finance Committee Meeting on June 3, 2025
B.
FY25 Unaudited Actual Reports
IV. Financial Update
A.
KIPP SoCal FY25 Preliminary Results
D. Chao presented our FY25 preliminary financial results. D. Chao discussed variances from budget. Positive variance for revenue a result of nutrition revenue, state one-time revenue recognition, and philanthropy. Negative budget variances on expenses from repairs & maintenance and special education services. The committee asked questions about our variances from budget, including sources of philanthropic revenue and what management is doing to improve controls on repairs & maintenance spending. J. Miller asked questions about sources of changes to our assets and liabilities, including changes in debt and why no growth in long-term assets.
B.
KIPP SoCal FY2025-26 Budget Outlook
D. Chao and K. Salyer provided an update on FY26 fiscal outlook based on the final State budget impacts on our revenue and updated revenue assumptions based on enrollment and attendance through the first three weeks of schools.
V. Financing Update
A.
Refinancing Updates
K. Salyer provided updates on KSD Facilities, LLC and KLARE 19 LLC financings that will need to be refinanced in next two years.
K. Salyer provided updates on KSD Facilities, LLC and KLARE 19 LLC financings that will need to be refinanced in next two years.
VI. Treasury
A.
Treasury Update
K. Salyer previewed changes to the Investment Policy Statements that will be presented for approval to the Board of Directors at the upcoming meeting.
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