The DC Prep Board Meeting held on November 30, 2023, focused on several key initiatives and financial updates crucial for the organization’s future. The meeting began with a discussion about a significant donation aimed at sending students to summer camp, which was presented as an exciting opportunity to enhance student experiences. The development committee highlighted plans to raise approximately $20,000 to support this initiative, emphasizing the importance of engaging new donors and strengthening existing relationships, particularly with the holiday elves known for their generosity.

Following this, the board addressed the annual fiscal audit. Dan Fine, chair of the audit committee, reported that the external audit had been completed with a clean bill of health, indicating no material adjustments or findings. The financial performance was consistent with budget expectations, despite some anticipated fluctuations due to specific funding sources. The board unanimously voted to accept the audit, confirming the integrity of the organization’s financial practices.

The meeting then moved to a reimbursement resolution concerning tax-exempt financing for upcoming construction projects. The board discussed plans for phase two of construction at Wilkinson and refinancing of the V Street property. The updated resolution, now totaling $45 million, was presented for approval. This resolution allows for reimbursement of expenses related to these projects, although it does not authorize immediate spending or financing agreements. The board approved this resolution as well, ensuring that the organization is prepared for future financial maneuvers.

The meeting concluded with a transition to updates from the schools, led by Cassie, signaling a continued focus on educational developments within the organization. Overall, the meeting underscored DC Prep's commitment to enhancing student opportunities while maintaining sound financial practices.