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

FY26 Primary Academy Financial Performance

• Primary Academy closed FY26 with approximately $1.2 million in operating income, exceeding the board-approved budget of approximately $182,000.
• Favorable performance was primarily driven by:
• Conservative revenue projections.
• October enrollment exceeding budgeted enrollment by eight scholars.
• Favorable local five mills takeback.
• Higher-than-projected State Charter Schools Commission supplemental funding.
• Expenses remained below budget in nearly all categories.
• Personnel expenses included the unbudgeted teacher bonus provided by Governor Kemp.

Primary Academy Balance Sheet and Cash Position

• Days cash on hand increased from 335 days to 411 days, significantly exceeding the State Charter Schools Commission financial health benchmark.
• Loans payable decreased by approximately $160,000.
• Accounts receivable primarily reflected accrued Title I and security grant reimbursements associated with drawdowns submitted prior to June 30.
• Management will continue to update the Board on the outstanding receivable balance until it reaches zero.

Primary Academy Comprehensive Performance Framework

• The updated State Charter Schools Commission financial framework was reviewed.
• Management projects a 64 out of 65 score for the fiscal viability portion of the framework.
• The projected score includes the five-point bonus associated with building ownership.
• Primary Academy ended FY26 with a 15.6% efficiency margin.

FY26 Middle Academy Financial Performance

• Middle Academy closed FY26 with approximately $1.02 million in operating income, exceeding the board-approved budget of approximately $440,000.
• Revenue was generally aligned with projections.
• Favorable expense variances were primarily driven by personnel, benefits, and insurance savings resulting from vacancies and strategic role consolidations.

Middle Academy Balance Sheet and Comprehensive Performance Framework

• Days cash on hand increased from 204 days to 293 days, representing approximately $3.04 million in cash reserves.
• Accounts receivable were $0 at fiscal year-end.
• Management projects a 64 out of 65 fiscal viability score.
• The projected score reflects an 8.7% debt-to-income ratio and the five-point building ownership bonus.

FY26 Closeout and FY27 Outlook

• FY26 revenue and expense ledgers have been submitted to Bambo for audit preparation.
• Initial FY27 allotment information and finalized staffing data will be incorporated into updated forecasts for presentation at the next Board meeting.
• FY27 operating income is expected to be lower than FY26 due to planned salary adjustments and the elimination of one-time philanthropic revenue; however, current budgets remain revenue positive.
• Finalization of the property refinancing will result in updates to the debt amortization schedule and related expense forecasts.

Property Refinancing

• Management reviewed the proposed South State term sheet for long-term refinancing of the school's real estate loans.
• South State emerged as the most competitive lender following the financing review conducted from February through June.
• Management recommended moving forward with the refinancing process to mitigate exposure to potential future interest rate increases.
• The South State term sheet was advanced to the Governing Board for consideration and action.

Academic Committee

Resurgence Hall Charter School: Review the academic dashboard, which includes schoolwide enrollment, attendance averages, demographic data, RHCS entry year, attrition rate, and reason for both students and staff, school climate indicators, and parent engagement indicators and staff engagement indicators.

• FY27 Enrollment

Resurgence Hall Middle Academy: Review the academic dashboard, which includes schoolwide enrollment, attendance averages, demographic data, RHCS entry year, attrition rate, and reason for both students and staff, school climate indicators, and parent engagement indicators and staff engagement indicators.

• FY27 Enrollment

Strong Start: Enrollment and Staffing

• Scholar enrollment as of August 15 exceeded enrollment targets.
• Recruitment and enrollment efforts continue through existing waitlists.
• Both academies achieved 100% staffing by July 1.
• Full staffing allowed all team members—including instructional staff, leadership, recess and aftercare staff—to participate in asynchronous and on-site summer professional development prior to the start of school.
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Governance Committee

Resurgence Hall Charter School: Review board membership, board recruitment, board fundraising progress, and review policies that govern Resurgence Hall Charter School.

• FY27 Board Calendar
• FY27 Conflicts of Interest Statements

Resurgence Hall Middle Academy: Review board membership, board recruitment, board fundraising progress, and review policies that govern Resurgence Hall Middle Academy.

• FY27 Board Calendar
• FY27 Conflicts of Interest Statements

FY27 Board Calendar

• The proposed FY27 Board meeting calendar was presented for review.
• No significant changes to the existing meeting cadence were proposed.
• The calendar was advanced to the Governing Board for approval.

Annual Governance Requirements

• Board members were reminded to complete and submit annual conflict of interest disclosures distributed via email.
• Upcoming opportunities for required annual Board training were shared.

The Meeting was Adjourned

The meeting adjourned at approximately 7:00 pm