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.

Approval of Minutes

Finance Committee

• Resurgence Hall Charter School and Resurgence Hall Middle Academy: FY27 Budget

The Board reviewed the FY27 Budget Proposal, which is grounded in three core principles:

• Transition to a mature, K-8 school model
• Continued investment in staffing and retention
• Shift to a sustainable, primarily public revenue model with reduced reliance on one-time philanthropic funding
• Budget reflects a fully staffed model aligned to the organization’s vision, with intentional investments to support instructional quality and long-term stability.
• Continued investment in employees with a competitive salary schedule that is not step-stair, but significant increases at milestones
• 100% Employer paid health insurance
• Comprehensive wellness programming partnership similar to post-COVID partnership

Revenue - Total revenue reflects a year-over-year decrease driven primarily by reduced philanthropic funding and slight enrollment adjustments. The budget relies more heavily on predictable public funding sources such as QBE and federal funds.

Expenses - Personnel remains the largest expense category, reflecting salary benchmarking adjustments and expanded staffing, including associate teachers and manager roles. Additional increases are reflected in investments in benefits, technology, and curriculum.

Operating Position - The budget reflects a significant reduction in operating income:

• RHPA: approximately $1.23M to $95K
• RHMA: approximately $770K to $17K

This reflects an intentional shift to invest in the program rather than maintain prior surplus levels.

Refinance implications on the budget - Board members discussed how the upcoming refinance, ahead of the June 2027 maturity, may impact the FY27 budget. It was noted that the current budget does not yet reflect finalized refinance terms.The Board discussed the potential for lower annual debt service depending on final loan structure and rates, and the opportunity to improve long-term cash flow. There was alignment on the importance of ensuring that the financing strategy supports long-term operating sustainability.

The Meeting was Adjourned

The meeting adjourned at approximately 7:01 pm