KIPP SoCal Public Schools
Minutes
KIPP SoCal Public Schools Finance Committee Meeting
Date and Time
Wednesday March 12, 2025 at 1:30 PM
Location
1933 S. Broadway STE #1144, Los Angeles, CA, 90007
Committee Members Present
C. Bermudez, J. Miller
Committee Members Absent
N. Arastu
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. Minutes
A.
Minutes from Finance Committee Meeting on December 4, 2024
| Roll Call | |
|---|---|
| C. Bermudez |
Aye
|
| J. Miller |
Aye
|
| N. Arastu |
Absent
|
IV. Financial Update
A.
KIPP SoCal FY25 YTD Results
D. Chao presented our financial results through Q2 FY25. Discussed timing of revenue on our budget to actual results. Also discussed variances on expenses compared to budget. D. Chao also discussed capital project spending.
V. FY2025-26 Budget
A.
FY2025-26 Budget
D. Chao presented initial assumptions underlying our FY26 budgeting, including enrollment and state funding rates. D. Chao also discussed potential state revenue sources that are not yet incorporated into our budget assumptions. K. Salyer discussed the share of federal revenue as a percent of KIPP SoCal's overall revenue and the programs the federal revenue funded. K. Salyer also discussed early results on enrollment relative to our budget assumptions. D. Chao discussed expected uses of philanthropy and preliminary net income assumptions for each school.
VI. KIPP SoCal Finance Committee Strategic Update
A.
Financing Updates
K. Salyer previewed two loans that will need to be refinanced over the next two years and discussed potential sources of financing.
B.
Other Strategic Issues
K. Salyer discussed potential implications of charter renewals. Committee members engaged in questions to better understand the potential impacts to the schools and KIPP SoCal.
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