Motion to adjourn
There was no notable discussion on the motion.
Bricolage Academy
Public Hearing
Public FY27 Budget Hearing - Tuesday August 11th, 2026 @3:30 PM
Meeting Minutes
Attendance Summary
| Name | Status | Arrival Time | Departure Time |
|---|---|---|---|
| Norman Barnum | present member | On Time | At Adjournment |
| Randy Philipson | not present chair |
Call Meeting To Order
2026 - 2027 Budget
Review 2026 - 2027 Budget
Meeting Overview
The meeting focused on Bricolage Academy’s proposed FY27 budget and the assumptions used to develop it. Discussion included projected enrollment and revenue, compensation and staffing costs, state funding changes, transportation expenses, liquidity, cash management, and the steps the school may take if actual financial performance differs from the budget.
Ross Noor, School Finance Manager with EdOps, presented the budget. Mr. Knor explained that EdOps supports Bricolage Academy with budgeting, forecasting, financial reporting, closing the books, and the annual audit process.
Budget Development and Financial Targets
Development of the FY27 budget began during the final portion of FY26 and involved testing multiple scenarios against estimated FY26 actual results. Throughout the process, EdOps and school leadership focused on three primary financial measures: gross margin, days cash on hand, and fund balance.
The proposed FY27 budget projects approximately $15.7 million in revenue against approximately $15.8 million in expenses. This produces a projected deficit of approximately $126,000, equivalent to a -0.8% gross margin.
Although the budget begins in a modest deficit position, the school’s other financial indicators remain strong. The FY27 projection anticipates approximately $2.7 million in ending cash, 62 days cash on hand, and a fund balance of approximately 15%.
The days-cash benchmark discussed during the presentation was approximately 45 days. Bricolage’s projected 62 days is therefore considered a healthy liquidity position. This represents approximately three fewer days of cash than the school expects to have as of June 30, 2026.
Enrollment and Revenue Assumptions
Enrollment continues to be one of the primary drivers of Bricolage Academy’s revenue. The school’s FY27 enrollment target is 985 students, while the budget is built more conservatively around 981 students.
The 981 budgeted students consist of 961 K–12 students and 20 Pre-K students. The four-student difference between the budget and enrollment target creates a small level of contingency. If the school reaches the full 985-student target, those additional students would create a favorable variance.
The budget assumes a base per-pupil rate of approximately $9,440. It also incorporates an estimated 1% increase in local tax revenue, consistent with guidance received from NOLA Public Schools. This is more conservative than the City’s projected increase of approximately 3%, creating the possibility of a positive revenue variance if actual collections are stronger than budgeted.
Philanthropic revenue is expected to remain approximately consistent with FY26.
Overall FY27 revenue is expected to be lower than FY26 even though local revenue is projected to increase. FY26 benefited from a significant one-time Employee Retention Tax Credit payment. Because that payment will not recur, the comparison between FY26 and FY27 reflects an overall revenue decrease.
Expense and Compensation Assumptions
Personnel remains the school’s largest expenditure. Salaries and benefits account for approximately 70% of total expenses, including approximately $8.2 million in salaries and approximately $2 million in benefits.
Overall salary expenditures are projected to increase approximately 5.36% from FY26 to FY27. This reflects both increases in employee compensation and changes in the number of employees included in the staffing model.
The compensation budget incorporates published instructional salary scale increases, approximately 2% cost-of-living adjustments where applicable, new positions, and state-mandated employee stipends. The state stipends are in addition to normal salary scale and COLA increases.
State Stipends and MFP Funding Change
The presentation also addressed the state funding change enacted during the summer. Approximately $168 million was shifted statewide within the Minimum Foundation Program from a non-instructional funding category to support employee stipends.
The funding provides approximately $2,000 for eligible instructional staff and $1,000 for eligible support staff.
Based on preliminary guidance from NOLA Public Schools and prior staffing data, Bricolage has budgeted approximately $166,000 for these stipends.
Because this change occurred late in the FY27 budget-development process, the school did not make significant operational reductions solely to offset the additional expense. Leadership and EdOps determined that Bricolage’s liquidity position provides enough flexibility to incorporate the change into the proposed budget.
Strategic Investments and Staffing Changes
Several operational investments are incorporated into FY27.
Bricolage plans to move custodial services from a contracted arrangement to an in-house staffing model. The change is not expected to create significant financial savings. Instead, the objective is to improve consistency, oversight, and the experience of students and staff.
The staffing model also adds a compliance coordinator to strengthen the school’s organizational and compliance capacity.
In addition, the budget includes an investment in new laptops and other technology to replace aging equipment.
Transportation
Student transportation remains one of Bricolage Academy’s largest non-personnel expenditures. Transportation costs were discussed extensively during budget development because of the significant financial pressure they place on the operating budget.
The expense will remain an important area for continued monitoring and future financial planning.
Cash Management
Because Bricolage is maintaining a strong liquidity position, the school has placed a portion of available cash reserves in a high-yield money market account rather than allowing all available cash to remain in a traditional checking account.
The funds remain liquid and accessible while earning additional interest income that can support school operations. The strategy is intended to generate a return on existing reserves without materially limiting access to those funds.
Monitoring and Midyear Adjustments
The proposed budget represents the school’s financial plan based on the information currently available. Leadership emphasized that actual revenue, enrollment, and expenditures will be monitored throughout FY27.
While the school is beginning the year with a projected deficit of approximately $126,000, leadership stated that the intention is not to finish the fiscal year in a deficit position.
If anticipated revenue does not materialize, particularly as the school’s financial position becomes clearer by December, leadership intends to identify appropriate expense reductions or other adjustments.
Key areas for ongoing monitoring include enrollment, per-pupil revenue, local tax collections, state funding, transportation expenses, personnel costs, non-personnel expenditures, cash reserves, and days cash on hand.
Stakeholder Discussion Regarding Budget Communication
During the discussion, a parent/community member raised concerns about the timing of financial communication to families.
The suggestion was made that the Finance Committee consider providing families with an earlier and more accessible budget update during future budget cycles. Such an update could communicate major assumptions, known financial pressures, and unresolved issues before the final budget is presented.
The discussion also recognized the challenge of communicating preliminary information that may later change.
Overall Financial Position
EdOps characterized Bricolage Academy’s financial position as stable despite the modest FY27 projected deficit.
The proposed budget anticipates approximately 62 days cash on hand, $2.7 million in ending cash, and a 15% fund balance. Revenue assumptions have been developed conservatively, and the school retains the ability to make expense adjustments if actual financial conditions differ from projections.
When compared with other schools supported by EdOps, Bricolage’s combination of liquidity and gross margin was described as approximately in the middle of the comparison group.
FY27 Budget Summary
Financial Measure
FY27 Budget/Projection
Enrollment Target
985 students
Budgeted Enrollment
981 students
K–12 Budgeted Enrollment
961 students
Pre-K Budgeted Enrollment
20 students
Base Per-Pupil Rate
~$9,440
Total Revenue
~$15.7 million
Total Expenses
~$15.8 million
Projected Deficit
~$126,000
Gross Margin
-0.8%
Projected Ending Cash
~$2.7 million
Days Cash on Hand
62 days
Fund Balance
~15%
Salaries
~$8.2 million
Benefits
~$2.0 million
State Stipend Budget
~$166,000
Non-Labor Inflation Assumption
3%
Overall Salary Expense Increase
~5.36%
Follow-Up
Bricolage Academy and EdOps will continue comparing actual FY27 financial performance with the approved budget, with particular attention to enrollment and revenue.
As additional financial information becomes available, leadership will determine whether expense adjustments are needed to protect the school’s liquidity and improve year-end operating performance.
Closing Summary
The proposed FY27 budget seeks to balance investments in employees, technology, compliance, and school operations with conservative revenue assumptions and the need to maintain financial stability.
The budget currently projects a deficit of approximately $126,000, but Bricolage’s projected 62 days cash on hand, approximately $2.7 million in ending cash, and approximately 15% fund balance provide the school with financial flexibility.
Leadership intends to monitor performance throughout the fiscal year and make appropriate expense adjustments if necessary, with the goal of avoiding an operating deficit at year-end.
The Meeting was Adjourned
The meeting adjourned at approximately 1:42 am