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Board accepts EPIC financial statements for period ending Feb. 28, 2025
Summary
The board accepted financial statements showing a fund balance of just over $13 million, an increase of about $1.2 million, with total revenue of $208 million and expenses around $195 million through February.
The EPIC Charter Schools board voted to accept the financial statements for the period ending Feb. 28, 2025.
Deputy Superintendent of Finance Janice Swinn presented the packet and told the board the fund balance was "just over $13,000,000," an increase of about $1,200,000 over the prior months. She said total revenue was $208,000,000 and total expenses were just under $195,000,000 through February. Swinn reiterated that federal program reimbursements are a key source of timing volatility: claims and reimbursements arrive at varying times, and the variance typically evens out by year end.
After a brief discussion and no objections, a motion to accept the financial statements passed on a roll-call vote: Miss Berry, Miss Casper, Miss Myers and Mister Vela voted yes; Mister Hammons/Hammes was recorded absent.
Swinn said there were no audits this month and that staff will continue to monitor reimbursements and provide updated reports to the board.
