Welcome and Call to Order

The meeting will be called to the order.

Approval of Agenda

So that there is agreement between board members on the agenda, and the amount of time spent on the meeting, the board shall vote to approve an agenda for the meeting. To the best of its ability, it will follow that agenda, and allow for the chair to move the board through the agenda as specified.

Finance Committee

Resurgence Hall Charter School: FY25 End of Year

Financial Results:

• Ended FY25 with an operating income of $765,593.
• Total revenue exceeded budget by $343,686, driven mainly by higher local funding.
• Expenses came in $56,525 below budget.

Cash Position:

• Closed the year with 368 days’ cash on hand (~$5.76M).

Balance Sheet & Adjustments:

• Year-end balance sheet changes tied to a higher cash balance.
• Predicted non-cash pension obligation for FY25: $776,320.

Performance Dashboard:

• Achieved a score of 90/100, meeting financial performance standards across all key metrics (current ratio, cash, debt service, efficiency margin).

Resurgence Hall Middle Academy: FY25 End of Year

• Financial Results:
• Ended FY25 with an operating income of $531,039.
• Revenue exceeded budget by $125,576.
• Expenses were $375,791 below budget.
• Cash Position:
• Closed the year with 265 days’ cash on hand (~$2.04M).
• Performance Dashboard:
• Also scored 90/100, meeting all financial performance standards (current ratio, cash reserves, debt service, efficiency margin).

Compliance Update:

• Received an IRS inquiry regarding unfiled 941 forms from 2016–2017 (before the school’s operation).
• School is responding with confirmation that no salaries were paid during those periods.

Adjournment

The Meeting was Adjourned

The meeting adjourned at approximately 7:00 pm