EPIC board told revenue is ahead and $26M in bank; board accepts financial statements

The EPIC ONE ON ONE CHARTER SCHOOL governing board on Oct. 9 received a finance update and voted to accept the presented financial statements.

Mister Florey, the meeting—s finance presenter, said total actual revenue stood at about $47,000,000 and that the district has approximately $26,000,000 in the bank. He told the board that revenue is running about $2,700,000 ahead of budgeted revenue and that actual expenses to date were about $51,900,000. Florey said the finance team is refining dashboards and tracking cash flow on a weekly basis to provide more granular projections.

Why it matters: cash-on-hand and revenue trends affect short-term operations, liquidity planning and any near-term budget decisions.

Board action: The board accepted the financial statements as presented. The public audio records the motion and second but does not name a mover in the audio; the roll-call vote recorded four "yes" votes and one absence. No amendments were reported.

Additional administrative items on finance: Florey said expenses were below budget in the most recent reporting period and that the finance committee reviewed contingency planning related to potential government shutdowns. The committee—s work on weekly cash-flow dashboards was described as ongoing and intended to give the board earlier visibility into cash positions.

The board subsequently approved the consent agenda and later voted to enter and then return from an executive session; minutes state only board members and Brandon Webb were present in executive session and that no votes were taken there.

The public meeting concluded with adjournment after routine business.