001life. >> Morning, today is Thursday, June 11th. Uh this is the special meeting of the Finance Committee for the Board of Education. Uh we'll start with the review of the May 2026 financial report, Rich. >> Uh so, this is the financial report through May. We are showing a positive balance of $231,739. Uh this is an increase of just over $55,000 from the prior month. Uh the changes include an adjustment to a couple settlements for $38,849 in special ed. Uh we did review the uh fight the tax account. Um we are going to be under budget due to some staffing changes throughout the year, and that's $13,246. Uh we have some salary savings from a vacant groundskeeper of just over $2,000. Uh it is this time of year where we're starting to close down POs. Um
002and so, some of those POs that have been closed down have generated about $2,741 across a number of accounts. Uh we still have about 450 open POs uh left to close the year. Um ELP tuition refund of just under $1,400, and that makes up the $55,000 change. Um overall, general education RC's are a positive 43,651, while the special education RC's are a positive 188,088, and again, the majority of that is the excess cost revenue that we received. Um just going through the RC's for the changes. In RC1, um some of those accounts that I mentioned earlier for small dollar amounts that were closed out, textbooks, resource materials uh show a positive balance of $94. Um at the middle school, uh textbooks, classroom reference, periodicals, resource materials show a positive balance of $254. At Henley, uh
003textbooks, classroom reference, teaching supplies $210. At Holmes, same thing, textbooks, classroom reference, periodicals, teaching supplies $438. At Oxridge, those same accounts for $50. At Royal, those same accounts are $294. At Tokeneke, those same accounts are $426. At RC12, as I mentioned earlier, we did have a groundskeeper resign, and so there's salary savings from that gap in time of 2,700. In music, uh software, classroom reference, office supplies show a positive balance of $330. Art teaching supplies, 61. Um curriculum, ESL resources, 28. Uh library acquisitions, periodicals, resource materials, a little over 700. And tech ed teaching supplies, 112. And then just moving to RC 24, as I mentioned, the tuition changes for 38,000. I did want to highlight there's no change in excess cost, but we have received all the money that's anticipated to uh be received
004this year. And then in RC 25, FICA does show that savings of 13,246. >> Um Mr. Dunn and Robin are joining remotely. >> Okay. Thanks, Rich. Any questions? Joanna. >> Um The groundskeeper, is that a something that's easy to hire? >> So, it's been filled. We're just waiting for that person to start, and so it's just like a couple weeks where that person There's nobody in the position. >> Right. >> Go ahead. >> Um >> [laughter] >> Um and so you said in the uh teaching supplies are closing POs, and you still have 450 left. So, do you expect that number to go up? >> It'll likely go up. Um so, as we kind of get closer to the end of the year, um POs that are open for blankets, um which are basically like,
005you know, if you're buying paper, let's say, and you know, you have a $1,000 PO, maybe you spend $950. As you close that down, you'll start to accumulate small amounts across everything. So, that 2,700 will grow a little >> Are there any um like, we're getting close to year end, any any year end changes, expectations? >> Um so, everything's running pretty much as expected. Um we'll likely end up closing the uh the PO for the um staff and parent survey the bus transportation study because it likely won't happen before June 30th if it were to occur. Um and then we have electricity accounts which could fluctuate slightly. Um we're still waiting on those end-of-year electricity bills, but for the most part everything's running as expected. >> And anything that um anything that's impacting go forward
006for next year? >> Uh nothing that's going to impact uh next year for this year's budget. >> Okay, great. Other questions? >> Well, just in general, as the surplus gets a little bigger, um you know, the other night we talked about new materials that might need to be purchased with um the change in the technology policy. Um do you see room for any of that like pre happening before the school year or do we really need to wait to see? >> I think we really need to wait and see because there's a lot of planning that has to happen in the coming school year, but we we wouldn't anticipate a huge We have math textbooks that was the big wondering. Uh So, there's nothing I can see at this moment in time. And if there
007are any major changes planning into '27 '28, um we'll make we'll add that to the budget process next year. >> So, that was actually a really good point. To front load what we could buy now uh versus next year's budget with the excess. >> There isn't anything that we're aware of at this moment, so. >> Thank you, John. >> Other questions? And go ahead. >> Well, it it's also just a general question. So, the the fiscal year closes on June 30th, right? So, then what is your process after that to close out the year? >> Sure. So, typically we leave the year open for about 6 weeks um because as an example for electricity, you consume electricity on June 30th, we're not going to get the bill on June 30th. And so, there's about 6
008weeks where we're processing invoices, closing down those 450 purchase orders. Um the next big cash draw down on the budget is the teachers have a balloon check on the 19th and so that's uh represents their summer pays. Um, so that's about 10 to 12 million dollars that'll go out the door June 19th. Um, and then once we reconcile all the accounts, we have to do a state report which is called the EFS. That state report's due September 1st. Um, failure to submit that by September 1st is a $10,000 fine. Um, and then at that point we bring the board the unaudited financial statements and then we start the audit in the fall. >> Great. Anything else? >> Just just out of my own curiosity, the teacher summer pay, does that go out as a lump
009sum for the remaining months of the calendar >> teachers have a choice between 26 or 22 pays. So teachers who choose 26 essentially get four pays on that June 19th date. Um, and it's essentially money that we've held back throughout the year and it represents their summer pays. And so some teachers choose to do that cuz they're not not actually getting a paycheck till August. >> Thank you. >> Yep. >> Great. Anything else? And we have I don't think we have any transfers. Okay. Excellent. Uh, public comment. >> We have no members of the public to participate. >> Okay, great. Thanks everyone. Uh, motion to adjourn. Joanna. >> Bill. >> Argo.