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Board reviews charter audit reports; HOLLA, MLA and Arthur Academy report fund balances and fundraising
Summary
Presenters reviewed audit highlights for three charter schools: HOLLA's ending net position listed about $1 million (ending fund balance nearer $646,000), Multnomah Learning Academy reported an ending fund balance of $3.6 million, and Arthur Academy said fundraising is handled by its parent organization and reserves dipped this year but are not expected to continue falling.
At its Jan. 28 meeting, the Reynolds School Board reviewed charter school audit reports covering HOLLA, Multnomah Learning Academy (MLA) and Arthur Academy.
A presenter summarized financial figures for the schools. For HOLLA the minutes record an "Ending Net Position" listed as $1 million; the presenter clarified that this figure "doesn't mean that [the school] have that much cash on hand — it includes all assets," and said the ending fund balance is closer to $646,000. Multnomah Learning Academy reported an ending fund balance of $3.6 million and indicated plans to move forward with some building renovations in the future. For Arthur Academy, the presenter said the parent organization conducts a small amount of fundraising and that reserved funds dipped this year, but the presenter did not expect that trend to continue.
The transcript provides numeric summaries but does not include extended discussion, board questions that change funding decisions, or follow-up motions. The presentation materials or the full audit reports posted with the board packet will have the detailed audited financial statements and accompanying notes.
