Learning First Charter Public School Finance Committee

Learning First Charter Public School Finance Committee Agenda Monday, September 15th, 2025, ~ 5:00-5:45 REMOTE Google Meet - Meeting ID meet.google.com/udf-msoj-qjg Phone Numbers (US)+1 609-483-6085 PIN: 881 880 991# The Finance Committee works with board members, the Superintendent and Business Manager to create the upcoming fiscal year budget, present budget recommendations to the Board, monitor implementation of the approved budget, propose revisions, and make policy recommendations for the management of the charter school's assets. The Finance Committee monitors the following Accountability Plan goals: 1. The school’s annual budget is sustained by its enrollment. 2. Each year, the school demonstrates a history of positive net assets, adequate cash flow to sustain operations and support the academic program and consistently operates within budget. 3. There is an absence of material or repeated audit findings in annual audits by qualified independent auditors. *** Items for vote Welcome: Minutes from August 18, 2025, finance committee meeting presented for approval *** 1) Financial Reports School: a. Cash Balances August 2025 b. LFCPS Balance Sheet July & August 2025 c. LFCPS P&L July & August 2025 2) Information: FY25 Audit is almost complete, it is currently being reviewed by the CBIZ audit review group. The audit presentation will take place at the October 14 th Board of Trustees meeting by Kevin Petrosino from CBIZ for approval. The October Board of Trustees meeting date has changed to accommodate CBIZ. The Finance Committee will have the Draft Audit and Correspondence by the beginning of October for review. 3) New Business: Roof repair – the school is made up of several different buildings and roof levels, one of the roofs needs to be replaced and the roof’s perimeter has asbestos, so there will need some asbestos abatement during the replacement, the estimated cost to replace is $150,000. On September 17th, there is a Learning First Foundation meeting, and we will discuss the Foundation paying for the roof replacement. 4) Old Business – Review Current CD Rates. Discuss opening long term CD. 5) Adjournment Next meeting: TUESDAY OCTOBER 14, 2025 (REMOTE)