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EPIC reports stronger March finances and moves to hire prospective CFO
Summary
Finance staff reported March revenue of roughly $187M and a fund balance near $40.5M after paying off the line of credit; following an executive session the board voted to hire Dr. Rex Wahl as prospective CFO at a $190,000 salary.
EPIC Blended Learning Charter's finance report showed improved fiscal position in March, and the board approved hiring a prospective chief financial officer after an executive session.
Finance lead Mr. Florey told the board the March balance sheet shows a cash balance of about $44,000,000, year-to-date revenue near $187,000,000 and expenses about $147,000,000, producing a fund balance of roughly $40,500,000. Florey said the board is running ahead on revenue relative to budget and emphasized conservative budgeting and maintaining cash-on-hand to bridge timing lags in state/federal funding.
Superintendent Dr. Sean Ross also noted the district paid off a line of credit, reducing expected interest payments by "almost $200,000" and framing the payoff as improving long-term financial security. Ross highlighted forthcoming graduations and student recognitions in his superintendent report.
The board then entered executive session on a listed personnel item. After returning to open session, the chair moved to hire Dr. Rex Wahl as the prospective CFO at a salary of $190,000, to start no later than May 11, 2026; the motion was seconded and approved by roll call.
The hiring vote and the finance report are separate actions: the finance presentation was accepted by the board, and the hiring motion resulted from executive-session discussion and a subsequent open-session motion to hire.
