Bia Charter School Finance Committee Meeting Minutes
The committee discussed significant concerns regarding the school's cash position, which is lower than the previous year, prompting an immediate temporary pause on all non-essential expenditures. An analysis of financial statements revealed that year-to-date operating expenses have increased, driven primarily by rising costs in salaries, benefits, and purchased services, particularly within special education. The committee identified accounting and budget-integration issues stemming from a recent software transition. To address these challenges, the committee agreed to reinstate budget controls, utilize an outside consultant to validate the budget and reconcile records, and pause the approval of new purchase orders until the financial issues are resolved. Additionally, the planned adoption of the amended FY2026 budget and proposed FY2027 budget was postponed.