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EPIC board adopts second amended 2024–25 budget after midterm state-aid increase
Summary
The EPIC ONE ON ONE CHARTER SCHOOL board approved a second amended budget after receiving a midterm state-aid allocation increase; the board also approved financial statements for October and November and approved the consent agenda.
The EPIC ONE ON ONE CHARTER SCHOOL Board voted Jan. 23 to adopt a second amended budget for the 2024–25 school year following publication of the state’s midterm allocation.
Janice, EPIC’s finance lead, told the board the district’s midterm state-aid allocation rose from $19,930,000 to $21,070,000 after the January adjustment. She said the district’s cash position improved with the January state-aid payment already received, and that projections show monthly spending now tracking below budget as the year progresses.
Board members approved a second amended 2024–25 budget of $287,210,398. The amendment increased revenue by about $820,000 and increased expenditures by just under $11 million; the net change reduced the projected ending fund balance by about $280,000 compared with the prior amended budget. Janice said the amended budget reflects updated state aid and current encumbrances and is intended to provide headroom through June 30.
The board took recorded votes on multiple finance items during the meeting:
- Second amended budget (motion to approve the amended budget as proposed): Approved. Vote: Miss Casper — yes; Miss Myers — yes; Mr. Vella — yes; Miss Berry — absent; Mr. Hammonds — absent. Outcome: approved.
- Financial statements for period ending Oct. 31, 2024: Approved. Vote: Miss Casper — yes; Miss Myers — yes; Mr. Vella — yes; Miss Berry — absent; Mr. Hammonds — absent. Outcome: approved.
- Financial statements for period ending Nov. 30, 2024: Approved. Vote: Miss Casper — yes; Miss Myers — yes; Mr. Vella — yes; Miss Berry — absent; Mr. Hammonds — absent. Outcome: approved.
Board members also approved the consent agenda and other routine items by the same recorded pattern of votes.
Janice presented charts showing cash-balance projections, month-to-month revenue and expense trends, and weighted average daily membership (ADM) details used in state aid calculations. She noted EPIC’s weighted ADM rose, which contributed to the midterm increase; she also explained that small state-level adjustments can still affect allocations but described the midterm change as favorable to EPIC’s cash position.
The board moved into and returned from executive session later in the meeting; the presiding officer stated only the listed agenda item was discussed and no votes were taken in the executive session.
