Pagosa Peak Open School (PPOS) board treasurer Pamela Meade provided the PPOS board of directors with a treasurer’s report during the board’s most recent meeting on May 15.
Meade noted that her report looks at the school’s financial situation for the month of April, highlighting that the school received $193,000 during that month.
She also noted the school spent $158,000 during April.
“So, we did have income this month,” Meade said, noting the school had about $35,000 of income.
Meade explained that PPOS has put in request for funding from the district which she anticipates PPOS will be receiving next month.
“So, we should have another big receipt of funds that we expect to receive,” she said.
Meade noted that the school is still working on covering a deficit from July 2023 through April, mentioning the school has brought in $1.3 million during that time and has spent $1.57 million.
“So, we had a net loss of $268,245,” she said, explaining that gap should be covered once the school receives all of its expected revenues and they are “actually in the door.”
Meade explained the school has generated $6,841 in interest revenue in the last two months.
Meade also noted that PPOS has received about 76 percent of its general fund revenues, but has spent about 88 percent.
The final 2023-2024 budget will be presented at next month’s meeting for final approval, Meade explained.
The school has a balance of $694,249 in its account designated for a new playground, which earned a total of $3,081 in interest revenues in April, Meade explained.
She noted that the account is getting a 5.4 percent interest return rate.
Meade mentioned the general fund account, at the time of her report, had $51,403 and is getting a 5.254 percent interest return rate.
Meade also noted that an additional $50,000 is being transferred to the general fund account from the fundraiser account and will start earning interest instead of just sitting in an account that was earning no interest revenues.
“Let’s make a little more interest on that,” she said.
“In order for that budget to be balanced, we are looking at $44,000 [from] reserves, and that’s due to some unexpected costs related to special education aids, the audit and just lower enrollment than we realized,” PPOS School Director Angela Reali-Crossland said.
Draft 2024-2025 budget
Reali-Crossland also noted the budget proposal for the next school year, 2024-2025, has been drafted.
The board voted unanimously to approve the draft, allowing for public comment on it before it is finalized.
According to the draft budget included in the meeting’s packet, PPOS is expecting a total of $2,465,926.18 in revenues. This includes $1,237,530 of per-pupil funding.
Total funds available for spending are listed at $2,686,566.71, and total budget expenditures are listed at $2,462,232.41, resulting in a surplus of $3,693.77.
Listed expenditures in the draft budget include $728,828.60 for salaries, $299,723.48 for benefits, $435,899.33 for purchased services, $73,250 for supplies and materials, and $5,250 for “other.”
The beginning budgeted fund balance for the general fund is listed at $220,640.53, with the projected ending fund balance listed at $224,334.30.
Food authority
At the same meeting, the PPOS board voted unanimously to approve the memorandum of understanding between the school and the Colorado Charter School Institute (CSI) for CSI to act as the food authority for PPOS.
Assistant Director Emily Murphy briefed the board on the matter, explaining that she had been in communication with Archuleta School District Food Service Director Todd Stevens in regard to different school lunch program options.
Murphy also mentioned that she attended a webinar with schools across the state and found that “there really isn’t a sweet spot” in terms of meals served to have a viable food program.
She noted there have been “programs serving 200,000 meals fail and they’ve seen ones with 100 kids be just fine,” noting that it comes down to the efficiency of the school program.
“Which gave me hope that we can continue forward with our lunch program,” Murphy said.
Murphy indicated that, according to Stevens, “Due to time issues and schedules of schools … that this will not be possible for this upcoming year, but that he would like to continue to stay in communication next year.”
Reali-Crossland stated that, for this upcoming school year, “There is no other food authority option, so it is signing the contract or not having a food program.”
Board member Bill Hudson inquired as to how comfortable Murphy would be overseeing the food program.
Murphy explained that she has engaged with current lunchroom staff about getting more training to have someone step up and fulfill the role of the food program supervisor and that she is comfortable with it.
“Because I know that we have a very confident and capable person in that role currently … I feel some relief,” Murphy said.
clayton@pagosasun.com
