Welcome and Call to Order

The meeting was called to order and a quorum ascertained.

Approval of Agenda

Approve Minutes

Approve minutes from the last meeting.

April 2026 Financials

The Finance Committee meeting focused on reviewing April 2026 financials and discussing the FY27 budget. Ms. Lee presented the financial snapshot showing a $126,000 net profit for the school year to date, with revenue at $8,289,615 against budgeted expenses of $8,100,000. The committee discussed vendor payments, including notable expenses for Amazon services and credit card payments for conferences. The group reviewed an audit engagement letter with Marshall Jones at an increased cost of $750, and Mr. Dennis proposed issuing an RFP for landscaping services with a 20-day posting period. Ms. Lee presented the FY27 budget overview, highlighting an increase in QBE revenue of $744,000 due to projected enrollment growth from 522 to 560 students, along with budget increases for equipment, software, and salaries including a new $415,000 new hire retention amount. Key changes discussed included a $65,000 increase in new hire retention amount, a $68,000 increase in TRS pension costs, and a $111,000 increase in health insurance costs. The budget still projects a net profit of $126,000 at the end of the fiscal year.

Other Business

For the landscaping contract, it was decided to run the new contract for at least 20 days once approved, with vendors being notified about potential July services, and three bids will be required with presentation at the June meeting. Regarding the 26-week payroll adjustment, while staff were surveyed with mixed results, the transition from 24 to 26 weeks would require board approval due to cost implications exceeding $5,000, and detailed cost information from ADP will be presented at the next board meeting.

The Meeting was Adjourned

The meeting adjourned at approximately 6:57 pm