No changes needed.

No public comment on non-agendized items.

Alejandra shared the latest information year to date in financials.

1. Largest changes from prior forecast in individual expense and revenue areas

Operating income decreased over the last two months of about $29,000. Positive workers comp refund, and food service overall slightly less expensive. Increases in fundraising expenses (which was donations to families in need); depreciation now on new HVAC systems over five years; decrease in Title funding; increases in marketing and student recruitment (mislabled as "enrichment program" on the slide) which helps with the transition from current SIS to new SIS given current on-going application/enrollment needs; Zoom licensing; and increases in professional development (mostly from fees for teachers to clear their credentials). Current forecast is at $77,000 in one-year operating income.

1. Latest enrollment, attendance, and average daily attendance (ADA)

A few students did not return after winter break and enrolling in schools outside of the area.

1. Current cash flow and ending fund balance projections, though the school now projects to be well below one month's worth of expenses starting in May and June. Lack of cash is the main reason why UMCS at this time would seek loan forgiveness.

Cash remains positive all year, but still very tight near the end given state cash deferrals.

1. Fundraising forecast year-to-date

Still waiting to submit matching paperwork for Quest grant -- waiting for bookkeeping to catch up to show matching fundraising requirement met. RFF grant payment expected to arrive in January. Other family donations and fundraising slightly ahead of forecast.

Alejandra shared updates from the State level.
Statewide, California tax receipts were up over what was expected. Governor is proposing to spend some in the In-Person Instruction Grant. Not yet law, and we can submit our plan to the County, but it's unlikely to be a real option for our school.

Governor also proposed Expanded Learning Time and Academic Intervention -- larger than the re-opening grant proposal. Targeted towards funding supports for students contributing towards a school's unduplicated count.

For FY2021-2022: Governor proposes 3.84% LCFF increase and 1.5% increase for other state funding streams, but also projecting deficits in the following two fiscal years. Moving away from almost all cash deferrals; return to normal ADA tracking; STRS contribution decreased slightly and PERS holding at 23%; and other smaller funds that don't have many details yet.

In Federal funding, UMCS spent Coronavirus Relief Fund funds by end of 2021, which was the original CARES Act deadline. Still looking at how the recent federal stimulus ESSER funding will support next year's budget.

Alejandra shared the timeline we use each Spring to develop the next year's budget. The committee will look in February at a draft of a multi-year budget that incorporates the Governor's proposal.

Davis asked if we will be in remote learning entirely for the rest of the year. Krishna shared that the county's rates of COVID remain too high to be allowed to reopen at this time. Given new installation of ventilation, we will likely start small, targeted in-person instruction at some point during spring semester.

No public comment.

Krishna shared that we are in enrollment season, hosting virtual learning opportunities. Krishna will share more application numbers next month.

No public comment on this itme.

Krishna shared the proposed AERIES contract to switch to the new SIS for next school year. Our current SIS is going away. Must make a change. Would pay approximately 1/3 this fiscal and the balance next year. Also looked at PowerSchool. OUSD uses AERIES, more staff familiarity, and similar price. After initial costs, AERIES likely to cost the same or less than we currently spend on Illuminate.

Committee recommends this go to the Board's General Consent Report.

No public comment.

Krishna shared the latest draft SPSA, the structure, and the purpose given current lack of LCAP. Plan is to bring back to committees in February, public hearing with the Board, and approval by Board in February. Need ample opportunity for community engagement.

This document documents more total funding than current Learning Continuity and Attendance Plan. Format of SPSA is more like the LCAP.

No public comment.

Alejandra shared the draft resolution. We are eligible to apply for the EZ forgiveness application. Greg commented about the school still faces hard financial dynamics given the current state cash deferrals. Alejandra shared that we could add a whereas clause that references the original board-approved resolution that clarifies further the case for the funding. The committee agreed to that addition and with that, recommends moving to the Board's General Consent Report.

No public comment.

Multi-year budget forecast.

No public comment.